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Yeah, I totally agree. But on the other hand, if Fireman Rick's job is to put out the occasional small wildfire, and one day a small controllable fire starts bu
by tedsanders 8y ago
Yeah, I totally agree. But on the other hand, if Fireman Rick's job is to put out the occasional small wildfire, and one day a small controllable fire starts but Fireman Rick says not "not my problem, I'm gonna stay home and play video games" and then that fire burns down half the state, there's a sense in which the fireman is to blame by choosing to abandon his job.
Or to give it more of a HN spin: if Rick's job was to run a website, but hackers broke in and stole all the plaintext passwords, it could be construed as partially Rick's fault for negligently storing the passwords in plaintext, even though the hackers were the ones directly responsible for the hack.
- JamesBarney 8y agoYeah the Fed is screwing up massively when it comes to crises. They're keeping inflation too low(so they spend too much time trapped at the zero lower bound), and they're not as willing to engage in unconventional policy when the risks are clearly asymetric(a great recession is way more damaging than accidentally creating a little too much inflation temporarily)