you know

Obā-san

Impossible Trinity would be a cool name for a pulpy spy novel with conspiratorial overtones

Salix Babylonika

I'd only read it if it had a cool cover and/or intriguing blurb.

Obā-san

the cover looks like a tom clancy video game

the blurb is as follows:

Since the beginning of May the Indian rupee has plunged by 23%
against the dollar. The Turkish lira fell by 15% in that time, and the
Indonesian rupiah by 16%. Headlines warn of a replay of the Asian crisis
of the late 1990s. Complaints from emerging-market officials that
rich-world monetary experiments are to blame for the trouble look like
sour grapes. But new research presented to the world’s top central
bankers at their recent gathering in Jackson Hole suggests they may have
a point.

At issue is how the flood (and ebb) of foreign capital affects
economies. The traditional rule has been that countries face a
“trilemma”: they must choose between free capital flows, a fixed
exchange rate and an autonomous monetary policy.

“The impossible trinity” sounds like new-age theology but simply posits
that an economy can choose at most two of these three. An economy open
to free movement of capital can keep a fixed exchange rate, for example,
only by subjugating monetary-policy goals to its defence—by raising
interest rates sharply, say, when capital outflows put downward pressure
on the currency. Yet the trilemma also implies that an economy can
enjoy both free capital flows and an independent monetary policy, so
long as it gives up worrying about its exchange rate.

Sredni Vashtar

Totally going to be the name of my epic film noir cyberpunk acid jazz/psytrance side-project.

Obā-san

yes that is copy pasted from the first thing i found searching "impossible trinity site:economist.com"

Salix Babylonika

naney said:

the cover looks like a tom clancy video game

the blurb is as follows:

Since the beginning of May the Indian rupee has plunged by 23%
against the dollar. The Turkish lira fell by 15% in that time, and the
Indonesian rupiah by 16%. Headlines warn of a replay of the Asian crisis
of the late 1990s. Complaints from emerging-market officials that
rich-world monetary experiments are to blame for the trouble look like
sour grapes. But new research presented to the world’s top central
bankers at their recent gathering in Jackson Hole suggests they may have
a point.

At issue is how the flood (and ebb) of foreign capital affects
economies. The traditional rule has been that countries face a
“trilemma”: they must choose between free capital flows, a fixed
exchange rate and an autonomous monetary policy.

“The impossible trinity” sounds like new-age theology but simply posits
that an economy can choose at most two of these three. An economy open
to free movement of capital can keep a fixed exchange rate, for example,
only by subjugating monetary-policy goals to its defence—by raising
interest rates sharply, say, when capital outflows put downward pressure
on the currency. Yet the trilemma also implies that an economy can
enjoy both free capital flows and an independent monetary policy, so
long as it gives up worrying about its exchange rate.

this makes me want to watch Kill la Kill so I can get as culturally far away from this piece of writing as possible without actually moving to a rural village on another continent.

Obā-san

the economist is overly WOO FREE MARKET YEAH DEREGULATE STUFF but idk what's objectionable about that particular excerpt

Salix Babylonika

it's economy talk and there is literally zero mention of overthrowing our capitalist overlords with black magic.

basically it is pure poison to me.

Sredni Vashtar

It's basically just a blurb about how developing countries that want to "play the game" in terms of trade tend to get stuck between a series of choices that are all imminently necessary and almost impossible to reconcile in the current world market environment. As a good anti-capitalist, I think it's useful to know how late-stage capitalism works and what its defenders believe before one can take out one's knives.

Salix Babylonika

nonsense, comrade.

The sooner we get to handing out literal hammers and sickles the sooner we can get to bashing heads in and slitting throats!

*drapes the Soviet Spangled Banner from my deck*

Salix Babylonika

it should be obvious that I am being somewhat facetious, but if it is not, I will state so plainly here.

Sredni Vashtar

I want to fly around like Superman with the Red Banner as a cape and a black and red jumpsuit embroidered with slogans from revolutionary leftists. Then I would fight white collar crime and social injustice with my fists.

Salix Babylonika

For largely being a failure, I really think the Soviet Union had the unified aesthetic thing fuckin' down.

I like their flag a lot better than ours.

Klinotaxis

Mo The Show said:

it's economy talk and there is literally zero mention of overthrowing our capitalist overlords with black magic.

basically it is pure poison to me.

Mo The Show said:

this makes me want to watch Kill la Kill so I can get as culturally far away from this piece of writing as possible without actually moving to a rural village on another continent.

daze i have some bad news re: the structure of the japanese economic system

Salix Babylonika

it has literally been half a decade since I was called El The Daze on anywhere.

I'm not mad at you, you saying that just made that sink in, and now I'm scared of time.

Klinotaxis

lol. hello, i am aeshtaer

Salix Babylonika

eh?

Mandelbrot

otherwise known as Nitya, Jack, Glossina, Tzetze, i'm not seeing how you drew your conclusdf

Imipolex G

spain sun at the library

Imipolex G

scared of time? welcome to my world

lee4hmz

I still feel like I essentially pissed away my 20s. :P