We each have a litany of holiday rituals and everyday habits that we hold on to, and we often greet radical innovation with the enthusiasm of a baby meeting a new sitter. We defend against it and - not always, but often enough - reject it. Slowly we adjust, but only if we have to.
I just want to say that, all you do, no matter how bad your diet is, for the first six months or year, I just reduce the amount, even if it's horrible stuff. That you can deal with it.
Under a cold turkey strategy, at each policy meeting the Federal Open Market Committee would make its best guess about where it ultimately wants the funds rate to be and would move to that rate in a single step.
Federal spending is like a massive ship that takes a very long time to turn.
It was a bad idea, because I think that any government reorganization has to come in relatively small bites, or else you get indigestion.
Where the road bends abruptly, take short steps.
Slowly we adjust, but only if we have to.
We survive day by day on this planet by adjusting down, adjusting down. Little by little, imperceptibly, we adjust to increasingly deadly conditions, and come to accept them as 'natural' or inevitable.
