CSPAN2 U April 24, 2013 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
if there s a smaller available supply securities they re willing to pay a higher price for securities, which is the inverse of the yield. so again, by purchasing securities can i bring it on the balance sheet, reducing available supply of treasuries, we affect the lowered the interest rate on longer-term treasuries and on gse securities as well. moreover, to the extent that the best no longer having available a treasuries and gse securities to hold an portfolios, the extent that they are induced to go to other kinds of security for corporate bonds, that raises the price of hours yields on securities and so the net effect of these actions was to lower yield across a range of securities and of course as usual, lower interest rates have supported stimulative effects on the economy. so this is really monetary policy by another name. instead of focusing on the short term if we were focusing on longer-term. the basic logic of lowering rates stimulates the economy is really the same
host: james, thank you so much for joining us. guest: well, thank you for having me. host: i really enjoyed your book, great fun to read, and quite informative. guest: thanks. host: what i was fascinated about by the year 1948. i mean, clearly that was a banner year so to speak in terms of setting the stage for the world we live in today. that was the year that the transistor was ingented, the information theory, and that the book was published cybermedics qtsz, and what was about that year that all that came together? guest: that year is the starting point for my book because i start the book in the middle. it s a pivotal moment, and it s great that we can say this is the fulcrum in which the world changed. i really believe that about 1948. you named two things that came out of bell labs in the same year. the transistor, and claude shannon s information theory. claude shannon is the central figure of my book because of this starting point, because in 1948, h
public library for 50 minutes. it is terrific to be back in chicago. it always is, especially on an actual nice day. i was here last week was 45 degrees. i have to tell you this makes me tremendously must all shook for the days when moodie came to my talks to read and i always like to tell this story about my very first book event, which took place when i was living in baltimore. it was just after it published a book called the naked consumer. [laughter] exactly. it s a book that nobody got. nobody read. well, one read it and reviewed the book and he did it because he was a target of the book. the book was about, by the way, about how corporations spy on individual consumers, very apt today perhaps, so why did get a call when i was living in baltimore to what to lamb tester pennsylvania to the talk, not to talk to a signing. i since learned that sunday afternoon talks are deaf and especially when you do a talk in