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That helps a lot, thanks. And Jerome's comment in reply to your piece is vivid: Liquidity is the opposite of porn: you know it when you don't see it. So I guess the money shot here would be the fact that... there isn't any.
So much for mathematical macroeconomics, as you say.
by MikeM on Fri Oct 10th, 2008 at 01:18:24 PM EST
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