We don't aquire wisdom until we make a few mistakes. So don't worry if you make a whole lot of mistakes... Just think how wise you're going to be.
~Motivational Poster On the Internet
So yeah I'd like to point out that I misrepresented what "subsistence fund"(also called "pool of funding" in Austrian circles) actually means in my earlier post. I would also like to point out that even though I did not use the term properly, I used it consistently(in the sense that I used it to mean the same thing all the time) and that this mistake does not in anyway compromise my final thoughts on the subject.
To summarize: I used a term in the wrong way in my earlier post; otherwise nothing to see here.
2010-09-10
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