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DanS: Bull, he does everything wrong. The global capitalism needs urgent reforms and GwB is just taking it backwards. It's really about not realising USA is not an isolated remote island somewhere but one of the main engines of our global economy. He should give his adamant support for the UN and really try to develope the global economy. As any european knows it's still very difficult to eg. buy anything online from the us. Now I'm not blaming everything on the US, but GwB just isnt helping at all, his foreign policy is just too much tied up with internal affairs. As US foreign policy has always been...
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Que l’Univers n’est qu’un défaut dans la pureté de Non-être.
- Paul Valery -
If the US is the engine of growth then he should do everything he can to grow the US economy falling short of creating barriers to access to our market. This is the first time that I've heard that complaint about people in the US not being able to buy things online from Europe.Originally posted by laurentius
DanS: Bull, he does everything wrong. The global capitalism needs urgent reforms and GwB is just taking it backwards. It's really about not realising USA is not an isolated remote island somewhere but one of the main engines of our global economy. He should give his adamant support for the UN and really try to develope the global economy. As any european knows it's still very difficult to eg. buy anything online from the us. Now I'm not blaming everything on the US, but GwB just isnt helping at all, his foreign policy is just too much tied up with internal affairs. As US foreign policy has always been...I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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The global capitalism needs urgent reforms and GwB is just taking it backwards.
A lot of reform is being done, and would be done regardless of what the US said or did. China and India continue to open up. Some European countries are reforming, if perhaps slowly.
his foreign policy is just too much tied up with internal affairs
This isn't true. We're doing our best to liberalize trade, for instance.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Maybe I didn't phrase it right. US is one of the main engines of our global economy. It means that it's not the only one and since there are others we need a basic set of rules. I know we have WTO-for that but you know USA and EU arent exactly playing fair. Not to mention China, Korea and Japan. What we really need to do is to decide are we going to release our markets totally to capitalism or should we let our goverments have some power over economic issues. It has become clear that we can't go on like thisand both the ways need strong international cooperation.
Also, japan may need our help in the future. It's good for us they do well. I don't know so much about US economy but I reckon it's quite dynamic and strong despite some recent setbacks..Que l’Univers n’est qu’un défaut dans la pureté de Non-être.
- Paul ValeryComment
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laurentius,
I wouldn't count on as much global cooperation as you have in Europe. Not gonna happen.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Well, at least we have to hope it will. I really see only bad scenarios if we continue like this.Que l’Univers n’est qu’un défaut dans la pureté de Non-être.
- Paul ValeryComment
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Also, japan may need our help in the future. It's good for us they do well. I don't know so much about US economy but I reckon it's quite dynamic and strong despite some recent setbacks..
During the Clinton administration, we railed against the Japanese policies every time we met with the Japanese. The Bush administration has decided to say "they know that we think they're screwing up their economy, no need to be high-handed" and leave it at that.
I agree that we would all be better off with a healthy Japanese economy.
What we really need to do is to decide are we going to release our markets totally to capitalism or should we let our goverments have some power over economic issues.
Well, the US has already done much of this unilaterally, the steel and agricultural stuff notwithstanding (neither is a large part of the US economy, after all).
The US can only lead by example--to show that it pays to open up an economy. We can't force anybody to do what they need to do.
But anyway, more than half of the world's people are living under governments that are liberalizing their economies. We are going the right direction!I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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DanS: are we? As a leftist I'm not so sure about it
Que l’Univers n’est qu’un défaut dans la pureté de Non-être.
- Paul ValeryComment
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Well, what would you want the US to do or say?
I don't agree that capitalism is suffering some sort of crisis. More like it's entering a golden age.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Dan, Even I don't have ALL the answers and right now I'm too tired and/or drunk to answer. I do think that you will find the answer to your Q from my earlier posts. it's 3 am here and after 3.5 litres of beer I am relly getting sleepy.
Also I must be able to drive tomorrow morning Hope you understand...
Last edited by laurentius; July 11, 2003, 20:13.Que l’Univers n’est qu’un défaut dans la pureté de Non-être.
- Paul ValeryComment
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OK, you get a pass, this time.
By the way, why would China be the ones to pick up the pieces from the Japanese implosion? Who has the biggest economy, after all.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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What I find interesting is that there seems to be three camps today. The mainstream camp is the neo-classical camp (Aglo-Saxon Turbo-Capitalists as HO puts it). Like DanS, they believe that free market globalization is leading capitalism into a new golden age. I think you can include a subgroup of Supply-Siders to this group. Then you have the old Austrian School saying that monetary policy is causing disruptions to the market. Like Colon, they say that attempts to fine tune the economy makes capitalism unstable. And then you have a few communists like myself saying that capitalism is unstable and doomed to eventual failure that it won't be able to recover from. The group that seems to be missing is the Keynesians. There are some of them, but they are few and far between. I remember in the 70s when our president Nixon said, "We are all Keynesians now." Wow are we far from there now! What's going to happen if the global economy collapses? Will there be any Keynesians then or will the Austrian School win out? What will be the consequences? Interesting.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Money supply growth + money velocity growth = nominal output growth = real output growth + inflation.Originally posted by Kidicious Only lower interest rates can drive growth or slow it down. Increased money supply can cause inflation eventually if the economy doesn't pick up, but why are you worried about inflation?
Does that ring a bell? It might haven't crossed your thoughts yet, but a CB lowers interests rates exactly by stimulating money supply growth. Or at least by attempting to do so.
Compared to what?That's what I'm talking about. The're too high.DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.Comment
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Yes, but lower interest rates are needed to increase velocity. The point is that increased money supply may lower rates, but unless rates are lowered people will not spend more.Originally posted by Colon
Money supply growth + money velocity growth = nominal output growth = real output growth + inflation.
Another point is that you can have a larger money supply with a smaller output and not have inflation. When people start spending you can decrease the money supply.
They just need to be lower to stimulate growth.Originally posted by Colon
Compared to what?I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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BTW those Anglo-Saxon Turbocapitalists are just Keynesians in disguise. We are the real deal.
DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.Comment
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