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the (217), and (79), money (39), that (35), debt (29), you (28), for (27), #september (25), arthurian (24), more (24), comments (21), read (21), posted (20), was (19), are (18), policy (17), they (17), 2009 (17), this (17), economic (16), from (16), labels (15), have (15), economics (15), can (14), not (14), when (13), how (13), economy (12), here (12), krugman (12), def (12), words (11), hoarding (11), but (10), what (10), one (10), new (10), inflation (10), monetary (10), hold (10), spending (10), january (10), things (9), much (9), time (9), just (9), were (9), circulation (9), may (9), february (9), march (9), april (9), june (9), july (9), august (9), october (9), november (9), december (9), all (8), day (8), people (8), there (8), like (8), with (8), your (8), their (8), two (8), supply (8), save (8), coins (8), would (7), out (7), problem (7), five (7), flow (7), spend (7), hoard (7), growth (7), fed (6), first (6), years (6), his (6), came (6), gold (6), know (6), only (6), 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Text of the page (random words):
ugust 34 july 35 june 32 may 34 april 33 march 35 february 28 january 37 2013 412 december 33 november 31 october 35 september 32 august 33 july 36 june 31 may 36 april 39 march 40 february 31 january 35 2012 476 december 38 november 35 october 51 september 41 august 35 july 39 june 37 may 31 april 38 march 36 february 44 january 51 2011 571 december 44 november 38 october 41 september 53 august 54 july 52 june 50 may 45 april 54 march 46 february 37 january 57 2010 361 december 51 november 43 october 47 september 43 august 35 july 39 june 31 may 9 april 8 march 12 february 23 january 20 2009 79 december 17 november 10 october 14 september 20 krugman agonistes hoard flow save spend hold another h word either or the little things from an ad in my gmail just now two things in circulation giving new meaning to my label tot this is getting krugly discretion aside a response making sense of it here i looked it up balance in all things discretion aside this day assumptions notes on the forgiveness just a quick reference beyond hope august 3 july 7 june 4 april 1 march 1 february 1 january 1 links the 12 pages pdf html scribd money as credit paul krugman john mason gavin kennedy crisis timeline 1 crisis timeline 2 statistical abstracts measuringworth bea economic accounts bls inflation jobs flow of funds debt st louis fed fred money stock 1947 58 economagic usgovernmentspending top tax rates recession dates corp taxes 2006 irs tax data pk sources historicalstatistics org historical charts perot charts mark wieczorek the secret economist econompic john williams sgs crystal bull aquinum s razor flavianopolis william f hummell ecometry the l curve businomics blog on banking crises cybereconomics tim duy like a father to me worthwhile canadian the skeptical optimist nextblog better of thought action the troublesome economist the candid blogger blended purple frozen arctic tundra truth addicts anon jbpeebles mayday books dredd blog dolor s rants the 40 year old freshman thinking on the margin redonomics broad oak unsettling economics irrational expectations theory2life prac spoiler tips vin s read more faq s image host a very nice menu www w3 schools bloogger help image test and t2 blogger sentral html color codes google translate link within a page supreme court jester dave ross 1 dave ross 2 organize your stuff interesting jim kardi teknomo numerical ignorance mental workout g scaled data g normalized data tufte data analysis arthurian website about me contact labels real is a calculation 1 2 3 4 5 6 7 1966 1970s growth 1986 2000 2013 revision 400k smoothing a call for better argument a little r n r accelerated repayment of debt accidental discoveries adjusting debt for inflation artish b is greater than a b h finte behavioral ec best put downs bullard s earthquake c d of wealth calculating labor share civ civilization coinage coping cost and productivity cost push cost push inflation credit efficiency crisis chronicles cycle of civilization debasement debt debt and context debt and inflation debt and recovery debt bulge debt good and bad debt is not credit debt productivity debt to gdp debt to gdp in comments def credit def debt def economic activity def financial cost def gdp def general equilibrium def inflation def inside money def investment def issue and reissue def laffer limit def outside money deflation demand pull inflation disarray dpd echoes economic forces economics v the economy eroc erosion of debt evolution of the excuse expectations factors failure s embrace fallacy of composition fcm fed policy federal spending feedback loops final spending financial cost financialization five words five digit years forget about debt fpi fred free banking era full disclosure fun with the mpc gang8 gds gold shortage gresham s law gross domestic spending growth rate calc growth phase growth historical revisionism hoarding hodrick prescott household debt hover craft how to pay for it humor because you might not know if i didn t say i couldn t sleep iceberg inflation introduction is it ego captain jerry says krugman laffer curve limits long and variable loops malaise matched set fekete math problems medium of account military spending milton friedman mmt money multiplier more debt than money is policy motives moving average new tools of policy non linear not only household debt oil parameters for debt pfi policy predicting recession price controls printing vs spending problem x productivity questions r reading and writing red and green reduction reviews scott sumner sequence 2 serfdom simulacron simulated evidence slack special report spreadsheeting stagflation standard deviation star trek stimulus sumner symmetry in deception taxes taylor rule the difference between debt and credit the economy is transaction the k r shift the long decline the supply side the tint knob they don t know timeline tongue in cheek tot ulc umic unsustainable urgency verdoorn waste fraud abuse withering shoots zoho the new arthurian economics copyright 2010 2018 arthur shipman wednesday september 30 2009 krugman agonistes well yeah it s bad but we need it so i ll say it ain t really so bad in yesterday s post the true fiscal cost of stimulus paul krugman writes so fiscal expansion is good for future growth still it does burden the government with higher debt requiring higher taxes or some other sacrifice in the future or does it well probably but not nearly as much as generally assumed y know i like the guy i like a lot of what krugman says but he s desperately trying to make an argument here in favor of debt when i read it i was sympathetic but i don t buy the argument he s waffling and he s trying to weasel around the problem of insurmountable debt read more posted by the arthurian at 6 42 am 1 comments labels debt krugman tuesday september 29 2009 hoard flow save spend hold sometimes you wake up in the morning and there it is one way the federal reserve can fight inflation is to sell some of its assets if it sells a t bill to someone in exchange the fed receives money that someone was willing to spend that money spending money is m1 money the fed receives that money and holds it and it is no longer in circulation it comes out of m1 i get it now a few days ago i wrote you can only either spend or save i wrote people make their own decisions here s the thing you can only either spend or save but while you re deciding between the two you are holding money here s the picture that was in my head when i woke up this morning the heavy line between hoard and flow represents the range of possible attitudes toward holding money call it the hold line if you don t hold money very long your spending happens near the flow end of the line if you do hold money a long time your spending shows up closer to the hoard end the diagram also shows that hoarding is not the same as saving if you save a dollar your bank will put it to use lending out multiple copies of it but until you put it in the bank you are holding that dollar and as long as you hold it no one is putting it to use the money you hold may count as being in circulation but it is not in circulation just like at the fed posted by the arthurian at 12 27 pm 0 comments labels five words monday september 28 2009 another h word many voices back when i was teaching myself c language two of the first words i came upon were declarations and definitions well they were long words and both started with d and i was just startin out and they were two of a kind to me so i skipped over them and started writing functions things went pretty well for a while as i learned my programs got bigger and then i started getting really strange errors one time the source code in the editor changed when i ran the code weird errors it took me three years to figure it out in the end i finally understood the difference between definitions and declarations i started using them both and the weird errors went away i m not sayin anyone will have a problem like that with the words holding and hoarding i just thought it was interesting hoarding is an extreme form of holding money there springs up among them an extravagant love of gain get another man s and save your own is their principle and they have dark places in which they hoard their gold and silver for the use of their women and others they take their pleasures by stealth like boys who are running away from their father the law from the republic by plato book viii i first came upon the word hoarding in the general theory some thirty years ago the economy was different then hoarding was not something in the news not part of the world i understood i had trouble with the concept below are some notes and quotes gathered since that time friedman free to choose p 74 a run that results in hoarding of cash by the public tends to reduce the total money supply samuelson economics 1958 edition p 269 a hoarder who earns no money interest on his mattress cache finds the real value of his wealth increasing every day as prices fall hoarding reduces the amount of circulating money which causes deflation which causes the value of the hoard to increase in other words there are times when money under the mattress will increase in value as though it were collecting interest in a bank this is a fascinating aspect of a money economy it means that the system has a self perpetuating positive feedback loop that can lead to economic collapse that is why it is important to the government to keep people spending my old economics text by campbell r mcconnell 1975 edition pp 328 29 includes an excerpt from whatever happened to the cashless society from the morgan guaranty survey the convenience of paying by check and the credit card revolution would suggest a declining need for currency but curiously the amount of coins and paper money in circulation has increased significantly so current day observations of increasing demand for m1 money are at least nothing new the excerpt also offers explanations for the increase including a rising price for silver in the sixties made the old coins worth more intrinsically than their face value silver coins rapidly disappeared into private hoards and this tax evasion is believed to be a significant factor in the demand for currency people receive payment in cash so that there is no record much of this money winds up in safe deposit boxes under the mattress or in fruit jars buried under the old apple tree according to the excerpt hoarding is one reason for the increase of money in circulation money hoarded in fruit jars and under the mattress still counts as being in circulation that s gotta screw up the economic accounting from money prices and civilization in the mediterranean world fifth to seventeenth centuries by carlo m cipolla many good historians have told us of the shortage of coins in europe in the dark ages coins were scarce and they were scarce partly because the supply of precious metals was scarce and partly because a tremendous and widespread propensity to hoard drained relatively large amounts of the existing metals from the current supply p 9 and a follow up while the transaction demand for coins was very much depressed in the dark ages the demand for coins as assets to be hoarded was exceedingly high this sort of demand though had rather disruptive effects on the working of the monetary system it subtracted continuously coins from business circulation for unreasonable lengths of time and tended to shift them into the class of jewelry p 11 so hoarding doesn t only screw up the economic accounting it also screws up the economy from monetary theory before adam smith by arthur eli monroe antonine of florence also notes the influence of supply indirectly in his remarks that when gold is hoarded it becomes scarce and more goods will be given for the same money monroe p 26 antonini of florence was one of the scholastics or schoolmen he came in the next century after thomas aquinas from wealth and poverty by george gilder 1981 economies stall for much of human history in a slough of depression caused by insufficient buying power stagnant savings and hoarded funds p 33 in the general theory keynes analyzes the stall that gilder observes the destruction of the inducement to invest by an excessive liquidity preference was the outstanding evil the prime impediment to the growth of wealth in the ancient medieval worlds p 351 let us do everything we can to prevent that from happening in our time posted by the arthurian at 7 51 am 0 comments labels feedback loops five words hoarding saturday september 26 2009 either or there is no other choice you can spend a dollar or save it there is no other choice keep a dollar or let it go if you keep it that s saving if you let it go that s spending save and spend are the only options read more posted by the arthurian at 1 18 pm 0 comments labels five words the little things holding patterns how are we gonna solve the big problems if we don t even know the meaning of little words milton friedman used to write about the amount of money people want to hold i never quite understood it i want to hold lots of money who would want to hold less it never made sense to me read more posted by the arthurian at 11 59 am 0 comments labels five words friday september 25 2009 from an ad in my gmail just now maybe this is something new read more posted by the arthurian at 5 39 pm 0 comments two things thing one the wikipedia article money supply this morning contains this statement since most modern economic systems are regulated by governments through monetary policy the supply of money is broken down into types of money based on how much of an effect monetary policy can have on each narrow measures include those more directly affected by monetary policy whereas broader measures are less closely related to monetary policy actions i d say that s an accurate statement maybe we could leave out the word since because it implies causal relationships that complicate the simple facts leave out the word since change the first comma to a period and we re good the supply of money is broken down into types of money based on how much of an effect monetary policy can have on each narrow measures are more directly affected by monetary policy whereas broader measures are less responsive read more posted by the arthurian at 6 06 am 2 comments wednesday september 23 2009 in circulation hustle n flow raging river meandering stream stagnant pond the flow of water sometimes more sometimes less sometimes not at all the same is true of money read more posted by the arthurian at 8 07 pm 0 comments labels five words sunday september 20 2009 giving new meaning to my label tot i have a grandson jacob arthur four days old born on 7 september 2009 labor day read more posted by the arthurian at 6 38 pm 1 comments labels tot saturday september 19 2009 this is getting krugly inflation and the vietnam war krugman writes for the late 1970s was when macroeconomics experienced its gre...
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