Can’t believe it has been two years since we started Pileus. Thanks a lot to TFAS for its great support!
Here is a quotation from Wendell Berry that my dear wife pointed out as worthy of posting, and it seemed quite appropriate for our anniversary:
I wish to testify that in my best moments I am not aware of the existence of the government. Though I respect and feel myself dignified by the principles of the Declaration and the Constitution, I do not remember a day when the thought of the government made me happy, and I never think of it without the wish that it might become wiser and truer and smaller than it is.
Unfortunately his lack of awareness of the presence of the government and which allows for his “best moments” does not make the government go away, as it keeps on operating on many levels unknown to a normal citizen.
For instance the current ongoing downfall of the Western World is traceable to that moment when bank regulators came up with that crazy notion that one could avoid bank failures by giving the banks regulatory incentives to avoid risk-taking; something which the regulators executed by means of capital/equity requirements for banks based on the ex-ante perceived risk of default of borrowers.
That doomed the banks to a dangerous overexposure to what is officially perceived as absolutely not risky, like what´s triple-A rated and “infallible” sovereigns; and also doomed the world to an equally dangerous bank underexposure to what is officially perceived as risky, like small businesses and entrepreneurs.
Amen…and happy anniversary to Pileus!
Excellent. Thanks for leavening and enlivening the republic!
[...] any case, the folks at Pileus (where they’re celebrating their second blogiversary — congrats, y’all) offered a [...]