Kevin Gowen wrote:
> Declan Murphy wrote:
> 
>> Kevin Gowen wrote:
>>
>>> Declan Murphy wrote:
>>>
>>>> Kevin Gowen wrote:
>>>>
>>>>> Declan Murphy wrote:
>>>>>
>>>>>> Kevin Gowen wrote:
>>>>>>
>>>>>>> If China is so concerned, why does it have the same central bank 
>>>>>>> as the US?
>>>>>>
>>>>>> China doesn't have the same central bank as the US. 
>>>>>
>>>>> Sure it does. It's called the Federal Reserve. This is by dint of 
>>>>> pegging the yuan to the dollar
>>>>
>>>> Still haven't actually got around to understanding Friedman et al 
>>>> yet have you.
>>
>> Do you have a rough layman's understanding of what a central bank does 
>> now? Have you learned the difference between a currency peg, currency 
>> baskets, optimum currency areas, fixed and floating exchange rate 
>> regimes, the relationship between exchange rates and domestic money 
>> supply etc?
>>
>>> Are you still scratching our head over who exactly James Buchanan is?
>>
>> Nope - I enjoyed writing a paper in 1989 that drew largely upon 
>> Buchanan's work on Wicksell. I also have a bit of an unfair advantage, 
>> in being able to understand his theoretical work. His critiques of 
>> poor policymaking with respect to the 1890's depression are still 
>> worth crunching. Last year I was actually expecting you to quote Mundell.

You are such a lightweight.

> So why did you fire Brett?

As far as I'm concerned the details are confidential. All I can say is 
that the decision had everything to do with costs and nothing to do with 
his (excellent) skills, knowledge & performance. As I've already 
explained, you will do well if you end up being as good at law as Brett 
is in his field.


-- 
Non gratum anus rodentum