==> Whether North Korean officials actually said this, or whether it is US propaganda to get Americans mad, either way it’s hilarious: They allegedly called the US mainland a “boiled pumpkin.” Who can drop bombs after such a funny insult?
==> I did an interview on financial topics with a guy named Mo, but alas, he didn’t call me a wiseguy.
==> All joking aside for the moment, this abortionist grand jury stuff is pretty shocking. I can understand why people are outraged that it isn’t getting more media coverage.
==> David R. Henderson points out that “crying wolf” warnings from government are counterproductive. I thought the same thing when I was growing up, because there was a definite point at which I noticed the disclaimers on TV commercials got ubiquitous. All of a sudden, every product had an announcer speed-reading a list of awful things that might conceivably happen if you took Product X. At first comedians made fun of it, but after a while you got desensitized, such that nobody even listened to the warnings anymore. Hey, everything causes cancer. You shouldn’t take anything if you’re pregnant or have a heart condition. Etc.
==> Some of my favorite bloggers have been having a war over interest rate theory. As this was the subject of my dissertation, you’d think I’d be hip-deep in it by now. (In the sense that I would be commenting, not that any of them would acknowledge my existence.) I understand quite well what Krugman and DeLong are saying, but unfortunately I am not really clear on the Cowen/Andolfatto/Williamson position (and in fact I wonder if the latter three even have the same position, since I think Williamson embraces fiscal policy while the other two say their diagnosis leads to a different prescription).
But none of that matters. The important thing is the following, hilarious exchange:
First, DeLong took Cowen out to the woodshed for (allegedly) failing to make a distinction that Knut Wicksell made in 1890. Then DeLong ends with, “This is not rocket science. This is basic Geldzins und Guterpreis…”
Then, Cowen shoots back with a long post containing this quick line amidst all of the boring econ chatter: “Brad also chides me for neglecting “basic Geldzins und Guterpreis”, but speaking of basics he neglects the umlaut and also the plural on “price”, so it should be “Güterpreise“, the German-language title then being translated somewhat inexactly into “Interest and Prices.””
DA-YUM! That may not sound snippy to you outsiders, but that was the academic equivalent of Tyler saying, “Hey Brad, I got your Knut right here.”