Saturday, September 29, 2007

Royalty Returns

Ben Bernanke "replaced Alan Greenspan as Fed chairman in early 2006. But until now, Bernanke had faced no crisis and his policies had shadowed Greenspan's", Robert Samuleson in Newsweek, 1 October.

What is important in this article is the title, "The Bernanke Era Has Begun". It made me think of the time before the US existed and Americans were Colonists. For example, in 1570 the British passed a new bankruptcy law. It was denominated "13 Elizabeth" signifying it passed in the 13th year of Elizabeth's reign. Similarly, should we now call 2007 "2 Bernanke"? In the early days of the Republic the US Supreme Court listed its terms by court reporter. For example, 2 Cranch refers to 1802 so there is some US precedent for this.

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