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I completely disagree with your assertion that you can "cure" deflation with a printing press. And how is Japan not a relevant example?

You can certainly raise prices of financial assets but when the long rates are low for so long (and are made lower by QE) there emerges a negative feedback loop of overproduction -> oversupply -> lower prices for goods, with a stronger concentration of this effect low on the value chain (CPI ex-housing). In fact, if you look at domestic and european CPI's ex-housing (European countries are ex-housing by default), you will see that the inflation rates has been nearly 0 since the financial crisis despite printing trillions of dollars. But stocks are expensive. Quote from Greenspan: "As the cost of capital approaches zero, so too will the return on capital."

And to pose another question to you: from what transmission mechanism will your printing press create inflation when long rates are already low?

Like another poster below, I suggest reading the material at http://www.economicprinciples.org/


>I completely disagree with your assertion that you can "cure" deflation with a printing press. And how is Japan not a relevant example?

Of course you can always “cure” deflation by printing money. If you gave me control of the printing press for a few weeks I would print up a few billion dollars for each person (or maybe just a few trillion for my friends) and give it away. You can be sure that a dollar would be worth nothing after this exercise.

To answer your second question you can’t create inflation unless you actually get the money into the hands of consumers. The central banks have not been printing and handing the money out to consumers, they have been printing and giving it to banks. If the banks don’t have anyone they want to lend to then the money just sits in the bank and has no effect on demand. If I printed off a few trillion dollars for myself and just left it in a huge vault there would be no inflation - we would only get inflation if I went out a started buying every asset under the sun.


It's important to note that they've been printing it and paying banks not to give it to consumers. Back at the start of the crisis inflation had nosedived but the most recent inflation number the Fed had still showed high inflation. They knew that they were going to have to print lots of money to support the banks so they embarked on the unprecedented Interest On Reserves program to counteract the expansionary effects. That change in the rules of the game is probably a good part of why the Fed's models were so badly off during the crisis.


I have to agree that monetary stimulus alone isn't enough. Some call this the "zero lower bound" and that fiscal policy needs to drive inflation.


Mind you I think 0% interest rates from a central bank and reckless gov't spending are idiotic policies.


You can have negative interest rates (Switzerland and Sweden currently have them) so the zero lower bound does not need to exist. Of course monetary stimulus only works if the banks decide to actual lend all this cheap money. If they don’t then the money just piles up on their balance sheet and has no effect on aggregate demand.


Sweden has negative rates when loaning in money, not when loaning out money. That is, they are not violating the zero lower bound - they are simply a bit closer to it.


The Swedish negative rates are for banks borrowing from the central bank, but in theory there is nothing stopping banks lending money to individuals at a negative interest rate. In a deflationary environment such loans will still have a positive real interest rate. The banks of course would only do so if the negative interest rate was less than what the central bank charged.


That assumes that alternative tools like Quantitative Easing are not available. Central banks don't like to engage in Quantitative Easing because it hasn't been done very often and central bank models of it aren't very precise but it has certainly had an effect when tried.



I sincerely doubt a "super-futuristic" aesthetic is going to catch on in the mainstream. One of the reasons the Model S has done so well is because it resembles other large luxury sedans that it competes against.

One very thing in particular about futuristic designs, to include many recent domestic cars (like the new dodge sedans and sports cars) is little vertical space given for windows. In contrast, one of the great things about the Porsche 911 design is that you have incredibly clear 360 views with big windows. That's a major design feature that separates cars that are in continuous production for over 50 years and those that need design refreshes every few years.

Best of luck, FF.


Remember the Honda Civic hybrid? No? It predated the Prius and looked exactly like a Civic. The first generation Prius looked pretty normal, too. It wasn't until the second generation Prius, with its radical styling that announced it was a hybrid, until it took off.


Prius came first (introduced in 1997), then came the Honda Insight (1999) - the Civic hybrid rolled off around 2001.

2nd gen. Prius was introduced 2003, but sales only picked up around 2005 < https://en.wikipedia.org/wiki/Toyota_Prius >. The design wasn't the only factor - I would say Toyota's marketing and rising gas prices contributed too < http://zfacts.com/gas-price-history-graph >.


Yeah, I'm 24 and hate the narrow windows and huge side wall look. Also, Porsche's are...amazing. One of the best and longest lasting designs in the car industry. So iconic and known anywhere. It'd be hard for any company to touch the Porsche 911.


The Porsche 911 is an exercise is excellent engineering defying abysmal physics. That big engine hanging way out over the rear wheels... Well any first year engineering student could tell you why that's a bad idea. But they do drive like a dream.

On another note, my daily driver is a Charger with gunslit windows, and you do get used to it. That, and the fact that it's a 485 hp engine mated to a Mercedes transmission and suspension, and it drives as well as any 7-series I've ever driven.


You realize that ever-thicker doors and ever-smaller windows are all about crash test performance, right? The 911 is suffering from the exact same problem as the year go on. I've never thought of the 911 as having particularly good visibility anyway, but I guess the low hood and upright windshield helps.


Part of me wonders why they don't open source datomic and crank up the marketing effort on the consultancy and datomic/clojure/etc support portion of the business. It seems like a much more effective model for DB companies. For direct revenue streams, they can always have tuned/monitored clusters packaged as appliances.


Very cool. https://gist.github.com/clifton/97f8a862a590c15e1785


It was by FAR the most fun game I played as a teenager. The world was wide open. I had so much fun playing UO that very few games since have held my attention.


I'm not familiar with either implementation, but webrtc (I believe) allows for UDP networking, which is better for FPS games.


Breadth and depth are both very important. Too much breadth and you have a hard time getting any non-trivial job done. Not enough breadth and you use the wrong tool for the job. If you want to be the best dev possible, it's probably good to keep up with the latest in terms of adding those alternative solutions into your own conceptual framework, but it's distracting to spend too much time with them unless they truly are the best tool for the job at hand (and marginally so in terms of time invested).

I suppose it's like reading non-fiction books. As soon as you believe you understand the author's perspective in sufficient detail, it's often best to set the book aside and move on to the next one. You are under no obligation to read every page.


I played CounterStrike competitively against EG more times during my college years than I can count. Congratulations on the acquisition!


what team


OrgSync — Dallas, TX. Full-time.

Frontend / Backend / Full-stack / DevOps

## Job Summary

We're looking for a sharp engineer to work alongside a small team of developers and designers committed to building a robust, performant and scalable web application serving over 350 colleges and universities around the country. You have an attention to detail and a professional curiosity that extends beyond the workplace. You will work in a mostly autonomous environment, so you have to be just as awesome at getting things done as you are at composing elegant solutions.

Most of our code is written in Ruby and runs on the Rails stack backed by a MySQL database, but we also incorporate other technologies such as Node.js, Memcached, ElasticSearch and Redis. We use GitHub for version control and our infrastructure is entirely hosted via cloud services. We care about keeping our libraries up-to-date and test coverage. While most of our stack is on Rails today, we're comfortable with other technologies and always strive to use the right tool for the job.

This is a full-time position at our headquarters in Dallas, TX and includes a competitive base salary, a full range of benefits, stock options, and an awesome team of creative people by your side.

## Requirements

- Passion for developing excellent software and an appreciation for elegant code

- Strong understanding of web services and REST concepts

- Strong understanding of relational databases including complex queries and optimization

- Experience writing object-oriented software guided by tests

- Strong understanding of performance optimization and caching techniques

- Being comfortable in a polyglot environment a plus

- Open source project contributions a plus

- Ability to play "Careless Whisper" on saxophone a plus

- Strong written and verbal communication skills

## Links

Open source: http://orgsync.github.io/

Blog: http://devblog.orgsync.com/

Apply here: http://www.orgsync.com/apply


Law, medicine and natural sciences are very different than computer science (plus the latter two are graduate degrees). I'd like to see the same graph but with applied mathematics and physics added.


This may help a bit (from a previous HN thread)



The data for that comparison is here:


(I guess that's what NPR used anyway)

The trends show some in the tables here:


Between 1985-1995, mathematics (all, not just applied) declined but not as much as CS, physics increased moderately.



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