"The mind is a compact, multiply connected thought mass with internal connections of the most intimate kind. It grows continuously as new thought masses enter it, and this is the means by which it continues to develop."

Bernhard Riemann On Psychology and Metaphysics ca. 1860

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Saturday, September 01, 2007

The Subprime Housing Bubble

The reason that so few can conceive the presence of various bubbles going back to the tulip and the John Law bubbles is that monetarism is a pathological belief system. Monetary values are not reality as Mark Twain humorously limned in one of his writings (I forget which one at the moment.) What is real about the economy is whether or not it can adequately sustain a population in the here and now AND in the future. The recent visible collapses of our nation’s infrastructure are the product of the ideological delusions wrought by monetarism’s salacious grasp upon the body politic (pardon the mixed metaphor.) I write this knowing full well of course that most readers will have very little idea whereof I speak due to the execrable state of our education system in this regard.

When mathematical reasoning has been found, it checks political faction and increases concord, for there is no unfair advantage in its presence, and equality reigns. With mathematical reasoning we smooth out differences in our dealings with each other. Through it the poor take from the powerful, and the rich give to the needy, both trusting in it to obtain an equal share... Archytas

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