If not Captain Blood,
then ,
what?
A time,
long ago,
long before 'profits', in a moderate, modern sense,
a time before wages..........................................
a time of slavery,
serfdom,
lackeydom,
or booty.
BOOMERBUSTER
OLD CELLO
Monday, October 31, 2011
RE A FILM REFERENCE FOR THE COMING GLOBAL STRUGGLE OR WAR FOR WEALTH
Why not,
ala Steingart,
call it,
merely a metaphor,
Captain Blood?
ala Steingart,
call it,
merely a metaphor,
Captain Blood?
RE DK'S RECENT POSTS
This is an interesting passage:
'My old friend Stanley Hoffmann, in his review of Thomas Friedman and Michael Mandelbaum's new book This Used to Be Us, suggested that European parliamentary systems are simply more effective than our own separation of powers, but I think this was an oversimplification. Presidents such as Truman and Eisenhower have accomplished great things with the help of Congresses at least partially controlled by the opposition party. We are in trouble now not because of our constitution, but because of our almost complete lack of any common civic spirit.'
They, European parliamentary systems, are more effective for a variety of reasons, both there and here.
We here are, after all, partly in trouble precisely because of our constitution, as amended,.............. pace DK.
It, ours, lends itself, after all, sadly enough, to a lack of a common civic spirit, and always, since its inception, has.
It, our constitution, is not of course a necessary condition for a lack of common civic spirit, but it seems instrumental, at a fundamental, historical, structural, level, in a failure to integrate politically and culturally, over here, over centuries.
Many European parliamentary regimes are more nationalistic, and more politically integrated, in spite of the EU,
and less susceptible than ours, perhaps, to political drift, or separation of powers paralysis.
So.
'My old friend Stanley Hoffmann, in his review of Thomas Friedman and Michael Mandelbaum's new book This Used to Be Us, suggested that European parliamentary systems are simply more effective than our own separation of powers, but I think this was an oversimplification. Presidents such as Truman and Eisenhower have accomplished great things with the help of Congresses at least partially controlled by the opposition party. We are in trouble now not because of our constitution, but because of our almost complete lack of any common civic spirit.'
They, European parliamentary systems, are more effective for a variety of reasons, both there and here.
We here are, after all, partly in trouble precisely because of our constitution, as amended,.............. pace DK.
It, ours, lends itself, after all, sadly enough, to a lack of a common civic spirit, and always, since its inception, has.
It, our constitution, is not of course a necessary condition for a lack of common civic spirit, but it seems instrumental, at a fundamental, historical, structural, level, in a failure to integrate politically and culturally, over here, over centuries.
Many European parliamentary regimes are more nationalistic, and more politically integrated, in spite of the EU,
and less susceptible than ours, perhaps, to political drift, or separation of powers paralysis.
So.
re THE EURO
My position is that a customs union would have been the best ultimate goal for Europe, not a common currency, or further political integration.
A common currency has always struck me as a huge mistake, for just the reasons we have been seeing.
But, crucially, the 'crisis' we see everywhere now is not primarily merely a ' debt ' one.
A common currency has always struck me as a huge mistake, for just the reasons we have been seeing.
But, crucially, the 'crisis' we see everywhere now is not primarily merely a ' debt ' one.
THE CHINA WAGE
Wonder how Americans will like this,
once ' The China Price ' is well in place here.
We have been moving the world there by mainly our efforts for a long time now.
We need Indian CEO S to really cap it, as shown in Time Magazine recently.
once ' The China Price ' is well in place here.
We have been moving the world there by mainly our efforts for a long time now.
We need Indian CEO S to really cap it, as shown in Time Magazine recently.
RE KRUGMAN BOMBS BRIDGES AND JOBS NYT TODAY
He makes some good points here.
However,
because of how things have gone, past 50 years, and how the US jobs market and hollowed out industrial system sits,
his position that a jobs program would 'work' has to mean work in the very weak, now, traditional Keynsian sense,
a sense no longer that doable in a globalized world.
By itself, it is hardly a prescription for economic nationalism and redevelopmentalism needed now.
Term search: weasel.
However,
because of how things have gone, past 50 years, and how the US jobs market and hollowed out industrial system sits,
his position that a jobs program would 'work' has to mean work in the very weak, now, traditional Keynsian sense,
a sense no longer that doable in a globalized world.
By itself, it is hardly a prescription for economic nationalism and redevelopmentalism needed now.
Term search: weasel.
Sunday, October 30, 2011
ROSS IS NOT RIGHT NYT WHAT TAX DOLLARS CAN'T BUY
He is right about taxing the richest, but his ideas for reform aren't good either.
Term search: your state
Term search: your state
Friday, October 28, 2011
Wednesday, October 26, 2011
RE FLAT TAX AND ALL THAT
A flat tax made some sense, back in the day.
Not anymore.
Back then, there was an aristocracy at the top of a class system, and income inequality was not as drastic even under that skewed system.
Now, we have a bozo ocracy,
not an aristocracy.
Not anymore.
Back then, there was an aristocracy at the top of a class system, and income inequality was not as drastic even under that skewed system.
Now, we have a bozo ocracy,
not an aristocracy.
foolish to have long transferred technology and know how in exchange for temporarily low labor cost Captain Kidd
See Thomas Friedman's recent article, this week, nyt.
Game over.
Game over.
RE LIMITS OF MAGICAL THINKING DOWD NYT LIMITS OF GOOD WHOLESOME IT
Amen.
Term search: really erratic, etc.
Other possible themes here,
eg the social and civilizational and security problems
with too much laissez faire unregulated IT, no matter how magnetic these devices,
and aberrant ways of life are becoming,
can be put off for another post or 5.
Term search: really erratic, etc.
Other possible themes here,
eg the social and civilizational and security problems
with too much laissez faire unregulated IT, no matter how magnetic these devices,
and aberrant ways of life are becoming,
can be put off for another post or 5.
Tuesday, October 25, 2011
ALL TECH STOCKS INCLUDING APPLE AND ALL OTHERS ARE FAUX SECURITIES THEY ARE LIABLE TO PIRACY ON THE GLOBAL MARKET
The very obvious fact........
All these investors count on this general, call in the Generals, in these turbulent times.
Forget it, now.
There is nothing, really, of value, in the globalist world, other than rising wages,
a quaint notion, really, in these Bonfire of the Vanities times,
and those rising wages are, guess where?
Term search: Kidd
All these investors count on this general, call in the Generals, in these turbulent times.
Forget it, now.
There is nothing, really, of value, in the globalist world, other than rising wages,
a quaint notion, really, in these Bonfire of the Vanities times,
and those rising wages are, guess where?
Term search: Kidd
just think long term for a moment
Cheap foreign goods, cheap now, for a moment,
as a dagger, in the heart,
of your great grandchild.
Terms search: Steingart, etc.
as a dagger, in the heart,
of your great grandchild.
Terms search: Steingart, etc.
RE IT'S THE GROWTH STUPID STEPHANIE FLANDERS
The boomed global economy is only booming, less, but booming, in Asia, not in the EU, or anywhere nearby,
thanks to largely US initiatives there, over a long period of time.
Thank you America.
thanks to largely US initiatives there, over a long period of time.
Thank you America.
LETS TALK DERIVATIVISTS DISMANTLING GLOBAL laissez fairy CAPITAL MARKETS
These rogues hedgers and anarchists have long been wreaking havoc,
GAMING SHAMELESSLY AND WITHOUT REGULATIONS, the stupid globalist system, now fitfully and temporarily in place.
I say let them, these Bolsheviki, derivativist, investors, ruin it completely, as that is the trajectory of this globalist system anyway.
GAMING SHAMELESSLY AND WITHOUT REGULATIONS, the stupid globalist system, now fitfully and temporarily in place.
I say let them, these Bolsheviki, derivativist, investors, ruin it completely, as that is the trajectory of this globalist system anyway.
RE ARE THE FRENCH AND GERMANS TRYING TO FORCE SILVIO FROM OFFICE
Were this true, well and good. And I am not saying there is not an element of truth there...........
One troubling note, though, from a political, and journalistic, perspective, even were it true, is how much such a 'story' resembles traditional British, strategic, 'divide and conquer' tactics, re the Continent..................................
So..........
One troubling note, though, from a political, and journalistic, perspective, even were it true, is how much such a 'story' resembles traditional British, strategic, 'divide and conquer' tactics, re the Continent..................................
So..........
Monday, October 24, 2011
RE SMALL ISN'T ALWAYS BEAUTIFUL BERNSTEIN NYT
Popping the perennial American small biz bubble illusion.
He says it's really about 'new' small ones that grow.
That is also mostly an illusion; they get gobbled, or put out of business, by the large ones.
He did mumble something important about manufacturing I believe. This issue explains, in part, why a so called financial crisis, although a big problem, has not been what is really going on, at a deeper level, with the common welfare here or there.
He says it's really about 'new' small ones that grow.
That is also mostly an illusion; they get gobbled, or put out of business, by the large ones.
He did mumble something important about manufacturing I believe. This issue explains, in part, why a so called financial crisis, although a big problem, has not been what is really going on, at a deeper level, with the common welfare here or there.
RE TRADE IN 1922 AND TODAY
Reading Keenan's Russia and the West Under Lenin and Stalin,
clearly Western regimes have not learned much
since say 1922
about how trade helps politics.
clearly Western regimes have not learned much
since say 1922
about how trade helps politics.
Sunday, October 23, 2011
RE HEDGING
See DK's current post re hedging.
Hedgers are usually on the 'edge', not to say also ' really erratic '.
Hedgers are usually on the 'edge', not to say also ' really erratic '.
re WHO YOU ARE BROOKS AND POP SOCIAL SCIENCE MAVERICK EXECUTIVE
Term search: really erratic
See also: NYT article: Will Dropouts Save America
See also: NYT article: Will Dropouts Save America
RE INDIAN HELI BREACHES PAKI AIR SPACE
Sounds like they need Chinese investors to help them work this thing out.
Saturday, October 22, 2011
RE WILL MRS. MERKEL WAKE UP NYT EDITORIAL
Re '...the judgment of global credit and capital markets being swift'...
I would suggest that such markets now are part of the problem and should be partially dismantled.
Perhaps the crisis they have caused will give these markets the judgment they deserve.
Term search: eg Krugman, Steingart, Michael Howard, Michael Lewis, The Big Short, etc.
I would suggest that such markets now are part of the problem and should be partially dismantled.
Perhaps the crisis they have caused will give these markets the judgment they deserve.
Term search: eg Krugman, Steingart, Michael Howard, Michael Lewis, The Big Short, etc.
Friday, October 21, 2011
RE BROOKS WHO YOU ARE
'We are players in a game we don't understand.'
Even more so, for the Maverick Executive, or the so called entrepreneur.
Term search: rail to rail, Pavlov's dog, Steingart.
Even more so, for the Maverick Executive, or the so called entrepreneur.
Term search: rail to rail, Pavlov's dog, Steingart.
RE BROOKS NYT WHO WE ARE
Newspaper social science...................what is it for?
Call, perhaps, the Laissez Fairy, Thurston Robert Macaire Howell III, Maverick Enterpreener, bonobos, cartoons, and other emanations on this blog, creatures partially from the id.
Call, perhaps, the Laissez Fairy, Thurston Robert Macaire Howell III, Maverick Enterpreener, bonobos, cartoons, and other emanations on this blog, creatures partially from the id.
Thursday, October 20, 2011
LORD WOLFSON PRIZE IDEA BBC EXITING THE EURO CHINESE LAISSEZ FAIRY LANDING ON GREECE
I say let China take over any country expelled.
That's my entry in the contest.
See eg
http://www.npr.org/2011/06/08/137035251/in-greek-port-storm-brews-over-chinese-run-labor
Laissez Fairy touching down in Greece.
That's my entry in the contest.
See eg
http://www.npr.org/2011/06/08/137035251/in-greek-port-storm-brews-over-chinese-run-labor
Laissez Fairy touching down in Greece.
RE RELATIVISM POLITICS AND HISTORY
http://www.nytimes.com/2001/10/15/opinion/condemnation-without-absolutes.html
It is best not to associate academic philosophy, however ostensibly relevant, too closely with actual, or even merely possible, events.
For example, suggesting that 9/11 was an 'end' for postmodernism is a dumb and dumber idea.
But we have those ideas here.
It is best not to associate academic philosophy, however ostensibly relevant, too closely with actual, or even merely possible, events.
For example, suggesting that 9/11 was an 'end' for postmodernism is a dumb and dumber idea.
But we have those ideas here.
RE DELIBERATE POLICY CHOICES KRUGMAN INVISIBLE HAND CHOICES
http://geraldmeaders.blogspot.com/2011/10/deregulation-is-invisible-hand-at-work.html
Post WWII globalization was precisely such a choice, recommended by the economists of the day as well as the strategists, diplomats, and politicians. The Council on Foreign Relations had been under way since 1921.
Post WWII globalization was precisely such a choice, recommended by the economists of the day as well as the strategists, diplomats, and politicians. The Council on Foreign Relations had been under way since 1921.
Wednesday, October 19, 2011
RE MONOPOLY CAPITAL PLUS LOCAL GOVERNMENTS PLETHORA
For those who have looked at posts re state and local government, Lorch, etc., see Monopoly Capital, Civilian Government, especially the passage re ' 1400 Governments ' footnote, re how many governmental entities overlap in NYC.
Terms search: your state, local government, etc.
Terms search: your state, local government, etc.
RE THOMAS FRIEDMAN TODAY NYT
Well, same ideas, different day.
He at least is mouthing dire concerns, now, that should, in a reasonable person, suggest backpedal away from the long held concepts of globalization, and free trade, as hard as one possibly can.
Notably, he doesn't do that.
He at least is mouthing dire concerns, now, that should, in a reasonable person, suggest backpedal away from the long held concepts of globalization, and free trade, as hard as one possibly can.
Notably, he doesn't do that.
Tuesday, October 18, 2011
RE TWIN PEAKS PIRATE'S CHEST STEPHANIE FLANDERS BBC
My concept of laissez fairy land 'twin peaks', chartist nonsense:
Terms search: laissez pirate
Terms search: laissez pirate
RE MULTINATIONAL CORPORATION TERM DAVID E LILIENTHAL MNC
Re 1980 and not before:
I have been scanning the old book Monopoly Capital, 1966, chuckling to myself re current pundits saying the current fix of globalist capitalism began in, say, 1980.
I am not a socialist, but Sweezy and Baran did tell the truth on some things, back then.
See the sections on The Giant Corporation, Militarism and Imperialism re Lilienthal etc., On The Quality of ... Life, great stuff.
They, the MNCs, were intensely booming the noncommunist world by 1966 already very very heavily, see quotes and data in chapter Militarism and Imperialism.
This really set the stage for what was to come in say the 1980s, and after, with the internet and the www, which took off all the market capitalists' attackers' gloves, while still couched in soft power (Steingart) lingo.
I have been scanning the old book Monopoly Capital, 1966, chuckling to myself re current pundits saying the current fix of globalist capitalism began in, say, 1980.
I am not a socialist, but Sweezy and Baran did tell the truth on some things, back then.
See the sections on The Giant Corporation, Militarism and Imperialism re Lilienthal etc., On The Quality of ... Life, great stuff.
They, the MNCs, were intensely booming the noncommunist world by 1966 already very very heavily, see quotes and data in chapter Militarism and Imperialism.
This really set the stage for what was to come in say the 1980s, and after, with the internet and the www, which took off all the market capitalists' attackers' gloves, while still couched in soft power (Steingart) lingo.
Monday, October 17, 2011
RE KEYNESIAN STIMULUS IDEAS
It works mainly only in a non globalized economy.
In a globalized one, the offshore global economy sucks out the stimulus like a weasel sucks out an egg.
In a globalized one, the offshore global economy sucks out the stimulus like a weasel sucks out an egg.
DEREGULATION IS THE INVISIBLE HAND AT WORK CONTRA KRUGMAN NYT
'For the financialization of America wasn’t dictated by the invisible hand of the market. What caused the financial industry to grow much faster than the rest of the economy starting around 1980 was a series of deliberate policy choices, in particular a process of deregulation that continued right up to the eve of the 2008 crisis.'
Term search many terms, try: trickle, Casanova Hand,
laissez fairy, laissez pirate, Kidd, globalization trap,
Cartoon
Term search many terms, try: trickle, Casanova Hand,
laissez fairy, laissez pirate, Kidd, globalization trap,
Cartoon
Sunday, October 16, 2011
PAVLOV'S DOG GABOR STEINGART SOFT TRADE FREE POWER
http://www.google.com/url?sa=t&source=web&cd=15&ved=0CFoQFjAEOAo&url=http%3A%2F%2Ffora.tv%2F2008%2F06%2F12%2FGabor_Steingart_The_New_World_Disorder&ei=N_eaToiuGs6DtgePw4jpAw&usg=AFQjCNEkAdcjfqRCO0OdZhZKTvhO--UuBg&sig2=xeyMV23ad8oKO8QxQAx7qQ
RICHARD MARTIN REAECONTV
' The Wake Up Call '.
Not a bad rant, really.
Way too late for this thing to wake up.
Not a bad rant, really.
Way too late for this thing to wake up.
Saturday, October 15, 2011
RE THOMAS FRIEDMAN THE WORLD IS FLAT 3.0
Finally bought a copy of this ridiculous rant, used, at a garage sale, from some young gay guys, who were equally disillusioned with his ridiculous nonsense.
They had worked 'over there', apparently...............................
Sad, really, still to see such adulation, NYT editorials, Goldman Sachs prize (that kind of tells it all doesn't it), etc, for such a bewildered point of view, at this late date.
So he was adopted. So what.
Many people were adopted.
That is no warrant whatsoever for globalization.
Sorry.
Steingart is perhaps the most visible antidote to Friedman, but his views too have to be taken with a large dash of salt.
Term search Steingart, Friedman, etc.
They had worked 'over there', apparently...............................
Sad, really, still to see such adulation, NYT editorials, Goldman Sachs prize (that kind of tells it all doesn't it), etc, for such a bewildered point of view, at this late date.
So he was adopted. So what.
Many people were adopted.
That is no warrant whatsoever for globalization.
Sorry.
Steingart is perhaps the most visible antidote to Friedman, but his views too have to be taken with a large dash of salt.
Term search Steingart, Friedman, etc.
RE DOWN A RABBIT-HOLE
TERM SEARCH EG:
LAISSEZ FAIRY LAND
' Never Never Land ' would also be a propos.
LAISSEZ FAIRY LAND
' Never Never Land ' would also be a propos.
Friday, October 14, 2011
RE RABBIT-HOLE ECONOMICS KRUGMAN NYT
Great stuff, but....
Relatively little to object to here, even from an economist.
He does now backpedal heavily from free trade, after it has been too late now for about 40 years.....
There is not really much of an explanation why, now, free trade has been bad for only 30 years.........
He does dwell on the Alice in Wonderland financial and deregulatory political issues, foibles of the 'other party', but they are really minor faux pas points (and previously embraced to some extent by both mad hatters) when one considers them against an issue like
free trade, the 900 pound economists' gorilla now in the room for a long time.
Free trade, unfortunately, has long been a bipartisan, as well as almost all economist's, obsession:
witness the rare bipartisan accord just approved and given the President's blessing, only yesterday, was it?
Terms search: trading american interests, trading places, cartoon, Krugman, Keynes, Steingart, Michael Porter, etc.
Relatively little to object to here, even from an economist.
He does now backpedal heavily from free trade, after it has been too late now for about 40 years.....
There is not really much of an explanation why, now, free trade has been bad for only 30 years.........
He does dwell on the Alice in Wonderland financial and deregulatory political issues, foibles of the 'other party', but they are really minor faux pas points (and previously embraced to some extent by both mad hatters) when one considers them against an issue like
free trade, the 900 pound economists' gorilla now in the room for a long time.
Free trade, unfortunately, has long been a bipartisan, as well as almost all economist's, obsession:
witness the rare bipartisan accord just approved and given the President's blessing, only yesterday, was it?
Terms search: trading american interests, trading places, cartoon, Krugman, Keynes, Steingart, Michael Porter, etc.
Thursday, October 13, 2011
Wednesday, October 12, 2011
Tuesday, October 11, 2011
RE PRESIDENT'S COUNCIL ON COMPETITIVENESS GET READY FOR SAME TYPE OF STORY NEW DAY
Remember The Competitive Advantage of Nations, Michael Porter, the little diamonds sprinkled throughout to appear very analytic and scientific? Some of it made some sense, but the overall tone was ' let laissez fairy land continue ' .
He had chaired a previous ' President's Council of Competitiveness ',
really an oxymoron, given the role the Presidency has so often played in eliminating any chance for prosperity within the domestic economy.
Terms search eg: Michael Porter
He had chaired a previous ' President's Council of Competitiveness ',
really an oxymoron, given the role the Presidency has so often played in eliminating any chance for prosperity within the domestic economy.
Terms search eg: Michael Porter
WAL-MART STORES CLOSED IN CHINA AFTER PORK PROBE BBC
'Organic' pork, in China? Kind of hard to believe in the first place.
Clever ' marketing '.
Organic probe here needs to be conducted everywhere I guess.
Where's the beef?
Clever ' marketing '.
Organic probe here needs to be conducted everywhere I guess.
Where's the beef?
RE THIS TIME, IT REALLY IS DIFFERENT NOCERO NYT
As I have pointed out already here, and as these authors confirm apparently,
it was not merely a debt bubble or some financial and investment bubble that has ended up causing global slow down and depression.
It is globalization itself.
Few low sighted policy makers, or blinkered economists, even want to admit that the whole program has been a disaster for so long now.
Some white paper ideas sound good, some, like a global currency, would merely institutionalize, with a currency, an already bad, and misguided, past course of globalization.
RE GLOBAL MELTDOWN NOT MAINLY A BANKING PHENOMENON
See also something like this on the deglobbalization blog:
http://deglobbalization.blogspot.com/2011/09/bank-tank-is-good-for-deglobbalization.html
it was not merely a debt bubble or some financial and investment bubble that has ended up causing global slow down and depression.
It is globalization itself.
Few low sighted policy makers, or blinkered economists, even want to admit that the whole program has been a disaster for so long now.
Some white paper ideas sound good, some, like a global currency, would merely institutionalize, with a currency, an already bad, and misguided, past course of globalization.
Monday, October 10, 2011
RE A DEAL FOR THE DEALS NYT SAME OLD POSITION FROM THIS PAPER
Same old same old, for many decades now.
The President bad cop, the congressional democrats playing good cop.
Terms search: trading american interests, trading places, etc.
The President bad cop, the congressional democrats playing good cop.
Terms search: trading american interests, trading places, etc.
RE 2 NEW NOBEL ECONOMISTS
Prof Sims said: "I think that the methods that I have used and that Tom has developed are essential to finding our way out of this mess."
Not.
Not.
Saturday, October 8, 2011
RE UNITED EUROPE
If one wanted such a thing that might work, it might have to be based on the Ancien Regime system,
of aristocracies and crowns,
rather than on liberal democracies.
That does not seem to be on the cards.
Sorry.
of aristocracies and crowns,
rather than on liberal democracies.
That does not seem to be on the cards.
Sorry.
RE UK BANKS ALSO DOWNGRADED TOO YES FRAGILE THE DUMBER THE MORE POWERFUL
Loose regulation, low reserve requirements, fiat currencies, poor investments in iffy globalized US derivatives, dumb and dumber management as well, surely.
Terms search: Michael Lewis, eg The Big Short.
The big banks have proven themselves to be the 'dumb money', but that has not prevented their growing consolidation, and growing power.
It seems, the more dumb, the more powerful................
Terms search: Michael Lewis, eg The Big Short.
The big banks have proven themselves to be the 'dumb money', but that has not prevented their growing consolidation, and growing power.
It seems, the more dumb, the more powerful................
Wednesday, October 5, 2011
RE GLOBAL MELTDOWN NOT MAINLY A BANKING PHENOMENON
Most people have been lead to believe that this started as mainly a banking and investment caused situation.
That has not been the case.
It goes well beyond that, and goes back much further, re globalist tendencies promoted for 60 years, finally coming to roost.
Term search, eg: Thurston
That has not been the case.
It goes well beyond that, and goes back much further, re globalist tendencies promoted for 60 years, finally coming to roost.
Term search, eg: Thurston
RE THOMAS FRIEDMAN THE WORLD IS FLAT WHY NOT ALSO POINT OUT
His illustration is 'flatly wrong'.
Term search: flatly wrong, experts, Venn diagram, also Steingart,
whose views I do not necessarily agree with in toto, but the part about Friedman's portion of the planet being flat and broken is well taken.
Term search: flatly wrong, experts, Venn diagram, also Steingart,
whose views I do not necessarily agree with in toto, but the part about Friedman's portion of the planet being flat and broken is well taken.
RE NO CHRISTIE NO BARGAIN THOMAS FRIEDMAN NYT
Americans want a,
you guessed it,
Maverick Executive.
Unfortunately, it has always been an American dream.............
Friedman has nothing really new here, only seemingly so.
He says we should follow what the great majority of economists tell us, supposedly, ie I guess, his last paragraph, that we need 'growth' (where?), most economists say from Asia, not domestic economic growth. (Friedman by the way is a historian by background, or journalism, not an economist, and he takes other 'experts'' word for this.)
Most economists are globalists re where 'growth' happens, and they have, virtually all, supported free trade all along, as Krugman also relentlessly has.
Friedman has nothing really new here, only seemingly so.
He says we should follow what the great majority of economists tell us, supposedly, ie I guess, his last paragraph, that we need 'growth' (where?), most economists say from Asia, not domestic economic growth. (Friedman by the way is a historian by background, or journalism, not an economist, and he takes other 'experts'' word for this.)
Most economists are globalists re where 'growth' happens, and they have, virtually all, supported free trade all along, as Krugman also relentlessly has.
Term search: Maverick Executive, Krugman, Thomas Friedman, Keynes in the clouds.
At least Keynes had tried to argue primarily for a 'domestic economy solution', in the passage referred to:
Ch 24 IV The General Theory:
But if nations can learn to provide themselves with full employment by their domestic policy...there need be no important economic forces calculated to set the interest of one country against that of its neighbours. There would still be room for the international division of labour and for international lending in appropriate conditions. But there would no longer be a pressing motive why one country need force its wares on another or repulse the offerings of its neighbour...with the express object of upsetting the equilibrium of payments so as to develop a balance of trade in its own favour. International trade would cease to be what it is, namely, a desperate expedient to maintain employment at home by forcing sales on foreign markets and restricting purchases, which, if successful, will merely shift the problem of unemployment to the neighbor which is worsted in the struggle, but a willing and unimpeded exchange of goods and services in conditions of mutual advantage.
At least Keynes had tried to argue primarily for a 'domestic economy solution', in the passage referred to:
Ch 24 IV The General Theory:
But if nations can learn to provide themselves with full employment by their domestic policy...there need be no important economic forces calculated to set the interest of one country against that of its neighbours. There would still be room for the international division of labour and for international lending in appropriate conditions. But there would no longer be a pressing motive why one country need force its wares on another or repulse the offerings of its neighbour...with the express object of upsetting the equilibrium of payments so as to develop a balance of trade in its own favour. International trade would cease to be what it is, namely, a desperate expedient to maintain employment at home by forcing sales on foreign markets and restricting purchases, which, if successful, will merely shift the problem of unemployment to the neighbor which is worsted in the struggle, but a willing and unimpeded exchange of goods and services in conditions of mutual advantage.
Monday, October 3, 2011
RE HOLDING CHINA TO ACCOUNT
Please.
No more nonsense.
Now he says we need to increase the competitiveness of our products.
He had said 'competitiveness', (rather than competitiveness of our products), as a concept, was flatly wrong, back in 94.
Ultimately, what's the real difference?
It is better not to trade internationally, if you do not have to.
If you have to, be prepared for a very, very, very, heavy, mostly hidden, cost.
He also praised free trade and 'sound money', 96, Tulip article. Way after 71.
Gold as a standard had already been washed up by then.
What do you think he thought he meant then,
or thinks he means now?
Now he wants to debase the already fiat currency in the name of competitive US products.
What is wrong with that picture?
Why compete with poor countries on price or cost,
or based on weak or debased currency?
Why manufacture something somewhere else,
unless you are prepared to have it stolen?
Why, if you want to survive?
No more nonsense.
Now he says we need to increase the competitiveness of our products.
He had said 'competitiveness', (rather than competitiveness of our products), as a concept, was flatly wrong, back in 94.
Ultimately, what's the real difference?
It is better not to trade internationally, if you do not have to.
If you have to, be prepared for a very, very, very, heavy, mostly hidden, cost.
He also praised free trade and 'sound money', 96, Tulip article. Way after 71.
Gold as a standard had already been washed up by then.
What do you think he thought he meant then,
or thinks he means now?
Now he wants to debase the already fiat currency in the name of competitive US products.
What is wrong with that picture?
Why compete with poor countries on price or cost,
or based on weak or debased currency?
Why manufacture something somewhere else,
unless you are prepared to have it stolen?
Why, if you want to survive?
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