Ed Seedhouse

Ed Seedhouse

  • Commented on Upcoming Appearances
    "Pacific North-East?" It all depends on your perspective. I live in Victoria, the capital of B.C. and thus the center of the world. We are south of the 49th parallel so all the rest of B.C. is north and east...
  • Commented on That sinking feeling
    "If this reminds you of anyone in politics, that's up to you; I didn't name any names. :-)" But the TV show that I also watched, definitely did. Now "we" know what channels you watch, commie......
  • Commented on Canned Monkeys Don't Ship Well, the Remix Version
    But you can't use convection to do it, you can only dump that energy into that cold vacuum in the form of radiation. Convection is a *much* more efficient way to dump heat than radiation....
  • Commented on Dude, you broke the future!
    Would it be a reasonable assumption that as long as I don't install new software I should be OK? No, it most certainly wouldn't be. Unless the O/S prevents it the bug will happen and *no* current or past O/S...
  • Commented on What can possibly go wrong?
    Explain, then, why the introduction and gradual rise in the age of consent precedes general schooling and then the rise in school graduation ages by roughly a century. I wasn't meaning to suggest a direct causal relationship. The AOC is...
  • Commented on What can possibly go wrong?
    I think the restriction on having sex with young teenagers has little to do with the age of sexual maturity. It has to do with a more abstract concept, that being the age of consent. We want (or should want,...
  • Commented on Unforeseen Consequences and that 1929 vibe
    That's where money comes from. Printing currency has little or nothing to do with the economy anymore. Yes, but I believe coins and bills are created by the Mint (at least they are in Canada) and are part of what...
  • Commented on Unforeseen Consequences and that 1929 vibe
    From what I've understood of Charlie's explanations in the past, currency in the UK is issued by a bank, not by the government, and so the Bank of England is what issues it. The government regulates it, for sure, but...
  • Commented on Unforeseen Consequences and that 1929 vibe
    It will? Yes, it will. The Bank of England stated this quite explicitly on it's website a couple of years back. The Bank of Credit and Commerce International would like a few words with the Bank of England in that...
  • Commented on Unforeseen Consequences and that 1929 vibe
    The point I was trying to make is that the "reserve" requirements are not in practice a constraint on money creation by banks. So it's "Hullo, I'd like to borrow 10 million to open another fladget factory as the one...
  • Commented on Unforeseen Consequences and that 1929 vibe
    Banks lend more than they've got in reserve from savings, but they're limited by law and regulation to lending up to a multiple of that reserve Not in practice, and not at all for everyone. There is, for example, no...
  • Commented on Unforeseen Consequences and that 1929 vibe
    Money that's saved is invested and loaned out and spent by others Nope. The problem we have right now is precisely that this is not happening. Banks do not loan out savings or reserves. They create money out of "nothing"...
  • Commented on Unforeseen Consequences and that 1929 vibe
    "Savings" in bank accounts are re-loaned out in circulation, for instance... Er,no. Banks don't loan out reserves, as has been admitted by among others, the central banks of England and Germany. Banks create new money by bookkeeping entries when...
  • Commented on Unforeseen Consequences and that 1929 vibe
    But we know what happens when this scenario oocurs: START HERE See also Zimbabwe, of late, or, we came close in the early 1970's, with at one point, between 20%-25% inflation in one year ... Well, it seems to me...
  • Commented on Unforeseen Consequences and that 1929 vibe
    "Inflation and the loss of "full faith and credit" in their currency" True, but this is a practical constraint, not a monetary one. The solutions you suggest are fine, but in theory a country could just keep creating more money...
  • Commented on Unforeseen Consequences and that 1929 vibe
    "austerity opposite of running unsustainable budget deficit?" Given the fact that national governments generally issue fiat currencies that cost virtually nothing to produce, and is a monopoly issuer of that currency, why should budget deficits be "unsustainable" for such a...
  • Commented on Unforeseen Consequences and that 1929 vibe
    "Given the current state of the US legal system I'd say not over here." Yes, I was rather assuming a rational legal system...silly of me, really. But I guess a country still refusing to use the metric system of measurements...
  • Commented on Unforeseen Consequences and that 1929 vibe
    "The point is, the scenario is rigged from the outset because the parameters are set up so that someone is going to get hurt." And the other point is that the car doesn't have to drive perfectly, it only has...
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