Monday, December 19, 2005


...there is much ugliness. This is only the fifth or sixth time I've done this to myself.

This time was over the handlebars...

(Stock photo, not me)

The time before that I was drunk at the batting cages. Oops. And so on. Yes, I am a 28 year old trapped inside a 50 year old body (no offense 50 year olds, I know some in better shape than me).

Besides being really painful to do just about everything--from putting on socks to typing at the computer (typing one handed, sooooo slow)--I get to have a titanium pin implanted in my shoulder for my upcoming one year anniversary instead of a long awaited honeymoon to Mexico City (and boy is my wife pissed).

In the meantime, while I've been agonizing over my socks and drooling through a vicadin induced stupor, the grad school work has really piled up. I guess I won't be blogging much in the early part of the new year either.

Wednesday, December 07, 2005

Wake up people! Central Bank monetary policy is a contested political space. The reminds us why we should all just laugh at this prudence of Central Bank Independence--Inflation Targeting nonsense:

Mr Koizumi’s administration has recently warned the Bank of Japan of the dangers of tightening policy prematurely, saying there is no need to end ultra-loose monetary policy while the world’s second-biggest economy is still in deflation.

One senior politician from the ruling Liberal Democratic party even warned the BoJ that its independence – won only in 1998 – could be removed if it jeopardised government goals by derailing the recovery.

The BoJ has been making the case for gradually ending its current policy, by which it drenches the market with liquidity, saying that prices are stabilising and financial stability has returned. Until recent government pressure, analysts had expected the bank to start moving in the first half of next year, though many now say the BoJ might hold off because of political arm-twisting.