Archives » central banks

Hobson’s Choice

Posted on March 16, 2016

If you don’t like what’s being said, change the conversation. – Don Draper, Mad Men: “Love Among the Ruins” (2009) Dalek: The Dalek stratagem nears completion. The fleet is almost ready. You will not intervene. The Doctor: Oh really? Why’s that, then? Dalek: We have your associate. You will obey or she will be exterminated. […]

Rewardless Risk

Posted on February 1, 2016

Faramir: Then farewell! But if I should return, think better of me. Denethor: That depends on the manner of your return. – J.R.R. Tolkien “The Lord of the Rings” (1954) I’m going full-nerd with the “Lord of the Rings” introduction to today’s Epsilon Theory note, but I think this scene — where Denethor, the mad […]

You Can Either Surf, or You Can Fight

Posted on January 14, 2016

Kilgore: Smell that? You smell that? Lance: What? Kilgore: Napalm, son.  Nothing else in the world smells like that. – Apocalypse Now (1979) Hello, hello, hello, how low? [x3] – Nirvana, Smells Like Teen Spirit (1991) Outside the bus the smell of sulfur hit Bond with sickening force.  It was a horrible smell, from somewhere down in the stomach of […]

Storm Warning

Posted on December 14, 2015

Unfortunately for mariners, the total amount of wave energy in a storm does not rise linearly with wind speed, but to its fourth power. The seas generated by a forty-knot wind aren’t twice as violent as those from a twenty-knot wind, they are seventeen times as violent. A ship’s crew watching the anemometer climb even […]

Funny How?

Posted on October 28, 2015

Henry Hill: You’re a pistol, you’re really funny. You’re really funny. Tommy DeVito: What do you mean I’m funny? Henry Hill: It’s funny, you know. It’s a good story. It’s funny. You’re a funny guy. [laughs] Tommy DeVito: What do you mean? You mean the way I talk? What? Henry Hill: It’s just, you know. […]

The New TVA

Posted on July 23, 2015

War is too important to be left to the generals. – Georges Clemenceau (1841 -1929) Competition has been shown to be useful up to a certain point and no further, but cooperation, which is the thing we must strive for today, begins where competition leaves off. … If we call the method regulation, people will […]

Why Take a Chance?

Posted on February 24, 2015

Vinny Forlano: He won’t talk. Stone is a good kid. Stand-up guy, just like his old man. That’s the way I see it. Vincent Borelli: I agree. He’s solid. An effin’ Marine. Americo Capelli: He’s okay. He always was. Remo, what do you think? Remo Gaggi: Look… why take a chance? At least, that’s the […]

Catch – 22

Posted on January 12, 2015

Four times during the first six days they were assembled and briefed and then sent back. Once, they took off and were flying in formation when the control tower summoned them down. The more it rained, the worse they suffered. The worse they suffered, the more they prayed that it would continue raining. All through […]