Deflation, unlike it’s counterpart inflation, is a fairly misunderstood force when it comes to understanding the economy. The textbook definition of deflation is simply a general decline in the price of goods and services. This decline is attributed to monetary policy by central banks, such as The Federal Reserve. If left unchecked, it can damageContinue reading “Deflation: As Explained By The LUCAS”
Category Archives: Tactical Terms
ALT+ $$$$: Holiday Supply and Demand
What Supply & Demand Can Tell You About How To Get Your Holiday Shift Covered
Scarcity
I think any firefighter can understand economics because fundamentally to study economics is really just a study and a mastery of scarcity. Scarcity is the term that implies that there is only a fixed amount of any given resource available for the needs of a society. Economics seeks to get the most amount of goodContinue reading “Scarcity”
Compound Annual Growth Rate: Weighing Epic And Boring Tales From Deployment
On the news, watching a wildfire devour the wilderness is an awe-inspiring sight. Some days, the fire takes on the life of a Kenyan marathon runner, steadily running through the timber canopy and undergrowth in a steady march of destruction. Despite an army of strike teams, hand crews, air tankers, dozers and helicopters, it pushesContinue reading “Compound Annual Growth Rate: Weighing Epic And Boring Tales From Deployment”
Hazards Of Coordination: The Counterparty Risk
In the profession of firefighting, the idea of getting injured on the job is more of an inevitability rather than a massive “what if.” If you feel compelled to want to run into burning buildings, its only a matter of time before something catches up to hurt you. In our career, most of us areContinue reading “Hazards Of Coordination: The Counterparty Risk”
Running Out Of Water: An Appreciation For Passive Income
You Never Want To Run Out Of Water When It’s Avoidable I ran out of water as a new captain. We were clearing a medical aid call and a group of people rounded the corner of a residential street frantically waving us down. We were caught off guard to say the least. As we roundedContinue reading “Running Out Of Water: An Appreciation For Passive Income”
Opportunity Cost: A Decision From Every Angle
Opportunity Cost: How expensive is the option you decided not to take?
The Art of Reading Smoke: Real vs Nominal Terms
Like most new firefighters, I was an absolute train wreck on the fire ground during my first few years, namely my probationary year. For our department, your first year on the job after the academy is known as the probationary year. As a “Probie,” you need to demonstrate proficiency in basic firefighting skills on realContinue reading “The Art of Reading Smoke: Real vs Nominal Terms”
Stock To Flow in Firefighter Goggins Terms
David Goggins is an ex Navy SEAL, endurance athlete and all around bad ass. His book Can’t Hurt Me a fantastic exploration into what any of us can achieve should we decide to develop our mental discipline to push the envelope. Also, after listening to his book, I found out that he’s a wildland firefighter.Continue reading “Stock To Flow in Firefighter Goggins Terms”
The Law of Diminishing Returns
Some Fire Economics School… With modern day construction, there is something we know very well as structural firefighters nationwide: the fire environment has gotten hotter and hotter over the years. This is mostly because building materials, and the stuff we fill our homes with are made out of synthetic materials tend to burn at higherContinue reading “The Law of Diminishing Returns”
The Firefighter Economist 