DUSTY MAVERICK STAGECOACH OLD WEST SHAKEDOWN WCONOMICS

Wednesday, August 24, 2011

RE MARKET POWER AND TRICKLE DOWN ECONOMICS TECHNOLOGY TRANSFER AND OTHER ISSUES CALL IT SOMETHING REAL CALL IT SHAKE DOWN ECONOMICS

Re Apple, China, and Samsung, etc., etc.:

Imaginary dual soliloquies:
American savvy, sassy, MNC executives: "Let's start producing, or continue producing, in Asia, or India, as the labor costs are so darn  low, and profitability is our main criterion."

Asian political leaders: "Let's give these idiotic American companies low labor costs for a little while, while we are taking everything useful regarding their products and techniques, and market information, from them. 

Then we will simply undersell them on foolish laissez faire world markets, and take over these foolish gringos' world, then enslave, and perhaps also kill, a great many of these idiots."

What is going on now, with the shift already far advanced in so called market power, 

we are seeing the emergence of powerful leverage in Asian economies against foreign companies and their weak regimes, and their products and markets.

I would call it, at this point, not merely not trickle down economics, 

or trickle away, 

or torrent away, 

but something more realistic, more somber, 

in line with Steingart's epithet, "attacker countries".

I would call it now 

dumb and dumber 

shake down economics.

Terms search: human conflict, leverage, trading places, dumb dumber, etc.

Thursday, August 25, 2011

SHAKEDOWN SHAKE DOWN SHEIK DOWN ECONOMICS

Not 


a Samuelsonian, or Krugmanian, or Friedmanian, or Keynesian, or Smithian, or Chicagoan, or Randian, or Austrian, 


type of economics term.


term search: market power trickle down

Sunday, May 21, 2017

THE DUMB MONEY IDEOLOGY

Watched Lewis, again, last night, with laGarde.

What brought him back to following Wall Street he said was the sub prime debacle, and the extent, as I reiterated recently here, that the big banks themselves nad been what he calls the dumb money, and had lost their ass too, rather than taking someone else's ass for a profit, which they are accustomed to do (they do not, of course, really want to be bailed out, they want to make money.)

 

Western liberalism has been and continues to be the dumb money ideology, and this sad fact is only now really being brought home to the average person in the West. 

 

There are so many reasons for this late awakening, analogously to the late awakening of big bank executives to the realities of the sub prime debacle. 

 

For example, in 89 (1989), the West actually still thought they had 'won'.

 

Tragically, it symbolized a huge sign of a loss for the West in general, against the Rest, and not just for the West's Europhile Soviet elite.

Lewis is himself ironically, of course, one of the liberals who fail to see what is coming. He discusses the big problem, with LaGarde, inequality, rather in the fashion that Piketty addresses it, as the really big roadblock to further good globalization.

What he fails to see, apparently, and what Piketty certainly has seen but refuses to mention or discuss, is not inequality at all, which is not really a new thing as such (the so called problem of the top 1%), which will neither shake your windows nor rattle your walls.

The 800 pound gorilla in the room of economic globalization, oh the times they are a changin, is income and wealth convergence, converging average or median income of a world population, amid gathering environmental degradation and vanishing natural resources.

For relatively wealthy Westerners, it is rather like having a freight train bearing down on you in the dark with its lights off.