On voluntary constraints that undermine public purpose
It was a very quiet day at the office today. The day started out pretty much as normal – a bit of a surf down at Nobbys Beach in small waves with a few of the regulars out. Then as I was driving to work I wondered where everyone was. Anyway, an easy drive. Then I noticed there were no E-mails, no newspapers, no-one at the office … and only one Twitter from Sean Carmody saying he was going off-line for the day. Maybe this is my big chance to take control of economic policy and fix the current malaise? That would be good. There would be some legislative changes immediately. The first I would make (for the US) was the topic of a report in yesterday’s Wall Street Journal (December 24, 2009) which noted that the US Congress had raised the debt ceiling to allow the US Treasury to borrow through to Fedruary 2010. Hmm, get rid of that legislation as a first step. Then on we would go.