"It is easy to confuse what is with what ought to be, especially when what is has worked out in your favor."
- Tyrion Lannister

"Lannister. Baratheon. Stark. Tyrell. They're all just spokes on a wheel. This one's on top, then that's ones on top and on and on it spins, crushing those on the ground. I'm not going to stop the wheel. I'm going to break the wheel."

- Daenerys Targaryen

"The Lord of Light wants his enemies burned. The Drowned God wants them drowned. Why are all the gods such vicious cunts? Where's the God of Tits and Wine?"

- Tyrion Lannister

"The common people pray for rain, healthy children, and a summer that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in peace. They never are."

- Jorah Mormont

"These bad people are what I'm good at. Out talking them. Out thinking them."

- Tyrion Lannister

"What happened? I think fundamentals were trumped by mechanics and, to a lesser extent, by demographics."

- Michael Barone

"If you want to know what God thinks of money, just look at the people he gave it to."
- Dorothy Parker

Monday, November 21, 2011

Central Bankers: Stop Dithering. Do Something. by Adam S. Posen

I'd add Posen to my League of Super Technocrats - reality-based policymakers trying to do the right thing. In a previous post, I mentioned Mervyn King, Governor of the Bank of England and Chairman of its Monetary Policy Committee. Also there was Charles Evans, President of the Chicago Fed, Christina Romer former chairwoman of the C.E.A., and Elizabeth Warren who is currently running for the U.S. Senate and so might become a politician.

Posen is extra cool in that somehow he's an American on the Bank of England's Monetary Policy Committee. Also he co-edited a book with Bernanke titled Inflation Targeting: Lessons from the International Experience.

I thought I had read he taught at Princeton with Krugman but can't find confirmation on the Internet.

Krugman on the debasement of the word "technocrat."

The Congressional Budget Office, for the most part, and the IMF - which has marked its beliefs to market - are positive examples of technocrats.

Bad examples would be the Bank of International Settlements and the O.E.C.D.

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