Posner, again, full of hand-waving subterfuge. 8% return on 1 billion in capital? Sure, at the end they only feasibly keep 20 million cash and definitely just l

Posner, again, full of hand-waving subterfuge. 8% return on 1 billion in capital? Sure, at the end they only feasibly keep 20 million cash and definitely just lose all value in the other luxury goods they buy... What a horrible economist if they could even begin to suggest anything but that this billionaire widow will do nothing but maybe get index ETF rates of return. Where is he coming from? University of Chicago? Oh right, I'll dive right into spending a lot of time breaking down his strawman. Sorry to commit logical fallacies folks, but why is it that I can never get but a flock of anti-Krugman gadflies out of UC? Which other econ departments drip with this much politically driven fluff?