Credibly promising to be irresponsible...since 2004!
"Long" is not measured in minutes; it's subjective. A speech is long when I have heard enough and the guy is still talking.I have hear many of Munger's speeches. There has never been a long one.
Well, thanks, Tom! But it seemed long to me. The room was not really air conditioned, and it was 102 outside. I felt faint...
You did look like you needed a seersucker suit to go with the hanky sweat wiping.To continue with your concern about mulitplers, John Whitehead at the Environmental Economics Blog had a post on July 11, 2011 that hit a very good shot at the current state of multiplier inflationA Federal Government Study that delivered $33 million in economic activity from $900,000 in spending. To some the the 3.X multiplier has the decimal place to far to the left.An actual regional report can be found at http://library.fws.gov/Pubs4/Econ_trout01.pdf that shows the same crazy multipliers. I wonder if they included the economist studying in the activity as well.
Can we consider the IMF announcement a "two minute warning"?
Excellent Excellent Excellent speech. I really liked the comment about libertarians and how they view macroeconomics. I also liked the description of Destination vs. Direction Libertarians. First time I've heard it described that way, and I really like the terminology.
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