Posts
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Everyday Small Use Cases for Generative AI
Today I had the pleasure of attending a continuing legal education (CLE) class. For those of you that aren’t attorneys, CLEs are professional education courses required for attorneys and some other legal professionals to maintain their licenses to practice law.
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It's a Wonderful Lie - That Movie Misled Us About Money
Why, why, why “the money’s not here…. Your money’s in Joe’s house! Right next to yours!” But, that isn’t how money works – George Bailey owes us an explanation if that is his real name. In lieu of George showing up and explaining it to us, we can take a high level look at how money is created. This examination is timely, as commentators and some policy makers seem to imagine the Federal Reserve can simply step in and curtail the amount of money in circulation effectively pressing the big red “Stop Inflation” button – but the truth is much more nuanced. The Federal Reserve doesn’t so much control the flow of money as it controls the interest rate one bank must pay another to borrow money; in sum, it controls the cost of money.
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