Gongol.com Archives: August 2014
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Generals and their peers are a lot like high priests -- they preside over a highly-structured culture with a lot of in-group language, symbols, and rituals that outsiders don't understand. How they choose to reach out to the outside when those tools become available comes without much of a textbook for guidance.
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The amount of money pumped into the economy as a stabilizing force? Huge. The consequences for pulling that money out too quickly? Extremely painful. The damage that could be done if the money stays in too long and creates inflation? Just as awful, but drawn out in slow-motion.
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People wanted to buy low-priced local bonds, and they sold out in a hurry. This model should be considered for lots of economic-development projects in other places -- especially those projects that are purely speculative in nature, which public officials too often get in the business of funding with other people's money.
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After the reprehensible behavior of some officers documented by a Washington Post reporter, something serious has to change.