enoch US

Member Profile

Real Name: stephen
Channel: Electronica
A little about me...
To laugh often and much; To win the respect of intelligent people and the affection of children; To earn the appreciation of honest critics and endure the betrayal of false friends; To appreciate beauty, to find the best in others; To leave the world a bit better, whether by a healthy child, a garden patch, or a redeemed social condition; To know even one life has breathed easier because you have lived. This is to have succeeded. — Ralph Waldo Emerson

Member Since: April 22, 2009
Email: enochthewatcher at gmail dot com
Homepage: http://electronica.videosift.com/
Favorite Sift: Another Great Poem by Enoch
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Comments to enoch

siftbot says...

Congratulations! Your dedication to finding diamonds in the rough and pushing videos of other members to success has earned you your "Assister" Level 44 Badge!

Jinx says...

I was referring specifically to the (fairly) recent experiment/collab between bethesda/valve/modders to allow mods for Skyrim to be bought for real actual dollars through the Steam Workshop. It was an uncharacteristic (at least, imo) misstep by both companies, but they have both been quite candid in their contrition after the inevitable failure.

Personally I'm not a great fan of the Workshop for multiple, complex modifications. More sophisticated third party tools exist for managing mods and all their idiosyncrasy.

At any rate, I think Bethesda were testing the water for Fallout4. I wonder if they've decided not to pursue modding for the moment, or if they're just not ready to announce anything yet.

enoch said:

yeah..what happened with the steam workshop?
i really dug how they implemented skyrim mods.was easy and it worked awesome.

siftbot says...

Congratulations! Your comment on Cops doing good deeds has just received enough votes from the community to earn you 1 Power Point. Thank you for your quality contribution to VideoSift.

siftbot says...

Congratulations! Your dedication to finding diamonds in the rough and pushing videos of other members to success has earned you your "Assister" Level 43 Badge!

radx says...

NC's collection of interesting links yesterday brought us this paper by the Bank of England.

The summary upfront is somewhat interesting, the rest gives you cancer.

But here's something, page 3/61, second paragraph:

Furthermore, if the loan is for physical investment purposes, this new lending and money is what triggers investment and therefore, by the national accounts identity of saving and investment (for closed economies), saving. Saving is therefore a consequence, not a cause, of such lending. Saving does not finance investment, financing does. To argue otherwise confuses the respective macroeconomic roles of resources (saving) and debt-based money (financing).

Unless my brain truly did take same damage from reading the first ten pages of the paper, this paragraph is basically saying that the mainstream theory of crowding out is a load of shit. It's probably just a minority position within the BoE, but still...

The last paragraph of the summary also states that reserve positions have little to no effect on a bank's ability and willingness to lend. Any claims that a shortage of savings is responsible for a lack of credit are thrown out of the window right then and there. It's a lack of credit-worthy customers, end of story.

The BoE folks responsible for this paper still don't go all the way, but these two issues alone are devastating enough to mainstream economics and the policies that result from it.

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