Next Weeks Reading for Episode 13: Country’s that have taken the “medicine”
http://www.businessweek.com/articles/2012-07-19/krugmenistan-vs-dot-estonia#p1
http://www.foreignpolicy.com/articles/2012/09/13/paul_krugmans_baltic_problem
Next Weeks Reading for Episode 13: Country’s that have taken the “medicine”
http://www.businessweek.com/articles/2012-07-19/krugmenistan-vs-dot-estonia#p1
http://www.foreignpolicy.com/articles/2012/09/13/paul_krugmans_baltic_problem
Dave you said the reason the bankers got away with murder was because the rules didn’t contemplate their situation. It is more correct to say the bankers through lobbyist write the rules and we don’t. Glass-Steagall Act of 1933 saw the dangers of commercial banks being able to gamble their assetts by being Investment bankers. But Glass-Steagall was repealed because it lowered corporate profits along with lowering risk to the economy.
Notice the Star Spangled Banner question is about the flag still being there after a long night of battle. Can you see it? Is it still there? Not a question about bravery and freedom. But I get Dave’s point: where have our freedoms gone?
What’s depressing is all the heads in the sand. When I try to talk to family, friends, coworkers about “The Controversial Truth” (the reality, as oppossed to the brilliant podcast), I feel like Noah, building an enormous ship in my front yard…
A couple disjointed comments
1. Why the fixation on world ending hyper inflation? There is a huge gap between our current inflation rate and Weimar Germany or Zimbabwe. We had double digit inflation in the 70s and the world did not come to an end. Please don’t forget there were a lot of smart people worried that the financial crisis would push us into deflation and a repeat of the Great Depression, and many still fear a lost decade Japan style future.
2. You repeatedly dismiss printing money as absurd and pointless, but David is correct. There is no “way it always was” society is a giant experiment.
3. I know you guys lean towards the commodity backed money side of things. Take a look at this stuff for a mirror opposite perspective. Could make for a very interesting comparison.
Just read the Krugman article. Oh boy, what can I say? Well, see, Krugman is special. The Fed is especially special. They use special logic in order to achieve a special goal.
First time poster, 1 episode behind (Slowish reading of the Ascent of Money).
Love the show and you guys are great, had a question in regards to QE3. During the Great Depression the book makes mention that injecting liquidity into the market would of maybe softened the Depression had it been done effectively. In the 90’s it was credited with preventing a serious economic downturn. How does this play into the recent QE? Is it then okay to say some QE is good policy to prevent a Depression and then to much of a good thing is a bad thing kind of deal?
right on line with this show http://news.yahoo.com/bursting-the-higher-education-bubble–why-college-shouldn%E2%80%99t-matter.html