So, here's a fun assignment to think about. This is my homework for my econ class, and I think it'd do people a bit of good to think about it. I'll post my answer as well as what my teacher says is the answer at a later date (no later than Wednesday). Anyway, think about it, and leave any comments if you think you have some ideas. I look forward to hearing them.
You work at the Federal Reserve Bank of New York’s Open Market Operations desk. It’s 1:05 PM on Wednesday when a major commercial bank releases its quarterly report showing a $3.5 billion in losses from its subprime investments. The bank also announces it will lay off 12,000 employees over the next three months, thus raising fears about a double-dip recession. The news comes after a rumor that OPEC may be reducing its oil production due to the decline in the value of the U.S. dollar. China reacts by announcing it will increase its aid to and cooperation with oil-producing African nations. The U.S. State Department holds a press conference announcing fresh peace talks in the Middle East, and renewing the United States concern about Iran’s nuclear plans and China’s human rights record.
At 4:13 PM you notice that the Fed Funds Rate (FFR) started to climb to 0.35%, away from the Fed’s target of [0-0.25%]. Concerns about slow economic growth and staggering deficits are now putting the Obama administration under pressure to put forward a solid economic plan to invigorate the economy. At 5 PM, CNN and Fox News announce they’ll be cosponsoring an unprecedented joint interview with President Obama, Chairman Ben Bernanke, and Secretary of Treasury Timothy Geithner in two days to discuss the state of the economy.
-The Economist
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FIRE ALL NUKES! FIRE ALL NUKES!
ReplyDeleteWell, if we fire all nukes plunging the world into WW3 and destroying everything, that would effectively destroy the problem, so I guess technically you're right. Unfortunately, I think my teacher is looking for an answer that doesn't involve annihilation of the human species.
ReplyDeleteBut think about the video game Total Annihilation. In that video game, the entire milky way galaxy is plunged into nuclear holocaust because of a war over resources. In the end, the robots become self-aware and begin building their own armies to continue the war that their human masters had been fighting. Think of how that helps the robotics industry. THINK ABOUT THE IMPLICATIONS. FIRE ALL NUKES. SAVE A ROBOT'S JOB! FIRE ALL NUKES!
ReplyDeleteI have expressed my feelings about this before, but I am pretty sure the only solution to this problem is to sit in your lavish office, with its modernist, minimalist decor, and cry. Sob like a small child. And maybe consider moving to the Dominican Republic, changing your name to Emanuel, and starting a modest basket-weaving business.
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