Brazil urges fiscal measures – elsewhere beyondbrics
Wall Street Journal ataca a España: "¿Es muy grande para caer o muy grande para salvar?" Cotizalia
Why America is going to win the global currency battle Martin Wolf, FT (hat tip Swedish Lex)
Italy’s crackdown on Gypsies reflects rising anti-immigrant tide in Europe WaPo (Xenophobia is increasing in the developed economies)
More Fed easing likely won’t help economy: Hoenig Reuters
Know Your Fed Heads: Here’s the Hawk-O-Meter MarketBeat
America should open its vaults and sell gold FT (This is not a piece from the Onion)
Why printing money makes sense Dean Baker
Yellen: "It is conceivable that accommodative monetary policy could provide tinder for a buildup of leverage" Credit Writedowns
A “Gate” Worthy of the Name—”ForeclosureGate” Dean Starkman (h/t Richard)
Moral Hazard and the Foreclosure Crisis Synthetic Assets (h/t Richard)
nakedcapitalism.com is probably written by a male somewhere between 66-100 years old Urlai (h/t Richard Smith)
Fears of global currency war rise FT
(hat tip Yves)
Antidote du Jour:
16 comments
Comments are closed.
Re Urlai:
Yves stop cross-dressing!
Given all the news about mortgage foreclosure fraud, this site by SEIU is getting a lot of attention:
WheresTheNote.com
Whether you are facing foreclosure, have an underwater mortgage, or are just a concerned homeowner, it’s important that you contact your bank and demand to see the original note on your mortgage. It only takes a few minutes using our free online tool.
Cheers,
Matt
(Disclosure: I’m proud to work for the Service Employees International Union)
>> Brazil urges fiscal measures – elsewhere
LOL.
What goes around, comes around. The “developed” nations will start hearing the “austerity” message they’ve dished out to these countries in the past.
>> nakedcapitalism.com is probably written by a male somewhere between 66-100 years old Urlai (h/t Richard Smith)
>> The writing style is academic and upset most of the time.
Funny. Will you be joining the Tea Party, Yves? Oh, wait, I overlooked “academic”.
Well, hey, I’m solidly in that demographic that Urlai is talking about.
And I think Yves and her blog are both pretty neat.
Probably just a coincidence.
If Urlai had factored in sleep patterns, I expect he would have nailed you.
If I haven’t said so before, congrats on a fabulous blog.
let’s see. A Washington economist recommends the treasury dump its gold (Truman) while another suggests the fed should print more money (Baker). Should our govt really work so hard to impoverish the nation? Number one way to improve the economy and budget: make every resident of the DC area and all economists (mostly govt. employed) get a real job (ie, productive).
‘To put it crudely, the US wants to inflate the rest of the world, while the latter is trying to deflate the US. The US must win, since it has infinite ammunition: there is no limit to the dollars the Federal Reserve can create.
‘What needs to be discussed is the terms of the world’s surrender: the needed changes in nominal exchange rates and domestic policies around the world.’ — Martin Wolf
AH HA HA HA! Wolf is flat-out delusionary. Did John Law ‘win’ in 1720 France? No, I reckon not — he got run out of town on a rail.
The notion that large-scale counterfeiting of worthless scrip can defeat the globe is preposterous.
What the US stands to lose is the dollar’s anachronistic, undeserved reserve currency status. If the US is forced to pay for oil imports in euros or yen or renminbi, it will be in a hell of a pickle, since US exports don’t earn enough forex to make those purchases. Hello, Third World!
Wolf’s sheer grandiosity in delivering this off-the-wall American triumphalist rant is powerful contrarian evidence that he is radically, fatally wrong.
Death to the dollar!
haha urlai is awesome. but i guess the ‘upset’ part is probably more a reflection of the time we’re in. or maybe not? :)
LOL I see a lot of gender bias that equates a “personal” style of writing with being “female” and “academic” being “male”
Et tu, Baker? Why do so many apparently intelligent people not see the corruption of the system caused by such a large infusion of funny money (he agrees it may as well be counterfeit).
And the poor guy will decry all the moral and societal decay that ensues, with no clue as to how the economic incentives got all messed up.
http://www.bloomberg.com/news/2010-10-13/pentagon-likely-to-cut-eliminate-more-major-weapons-programs-mullen-says.html
HERE IS A RELEVANT EXCERPT FROM THE STORY
Defense accounted for at least 51 percent of overall discretionary federal spending last year, according to the Office of Management and Budget, so the military budget faces increased pressure, including from the National Commission on Fiscal Responsibility and Reform that President Barack Obama created to identify tax and spending options to cut the deficit. A bipartisan group of 57 representatives and senators released a letter today asking the commission to consider defense cuts.
JUST SO Y’ALL KNOW, THE WORLD IS BIGGER THAN WALL STREET AND BEING IN THE BANKSTERS HIP POCKET. THE RULE OF LAW WENT OUT THE WINDOW DECADES AGO AT THE PENTAGON, IT’S SHOWING UP IN JUST THE DARNEDEST PLACES THESE DAYS. LIKE HERE AT HOME, WITH BANKS NOT KNOWING WHAT COMPLIANCE IS ANYMORE.
“The analysis is based upon 24 posts that has enough English words.”
The text analysis website would benefit from learning English grammar.
I used to help my Dad raise piggies just like this. When all the sows gave birth we’d have 35 or so running around, each with their own little personality.
The urlai may be picking up the quoted material. Since many of your quotes are from older men that would partly explain it.
Masterpiece Theater once ran a pretty funny adaptation of a comic World War II novel revolving around a German scheme to bankrupt the British economy by smuggling counterfeit pounds into England. Come to think of it, I think I saw a non-comic action movie with the same premise. Historically, there may have been such a scheme.
Baker doesn’t quite say that the United States government should start counterfeiting its own money. He says that an expansionary fiscal policy is a good thing, and has an example of the United States government counterfeiting its own money that is supposed to support his point. The entire article seems to be tongue in cheek. I wonder if the joke will be too subtle for most people.