It’s Always Hysteria with Some People


The economy is bad, but in no way comparable to the Great Depression. Think 1974 or ’82. Though I respect Mr Obama, I do not support the current policy on helping the economy. It is money-centric games. We need to fight deflation, true. But this current imbroglio is a phenomenom of money and not actual productivity. People need jobs, housing, food. Get that in order, regulate phoney baloney financial manipulation, and that fixes most of our troubles. Careening from one financial scheme to another is no way to fix the economy.


Dollar Hegemony Imperilled


America, albeit not all Americans, have benefited from the Dollar as the world reserve currency. The organizational structures and peace that follwed WW2 by definition favored the US. That other nations benefited too, is indisputable yet we benefited most: and many nations suffered under that regime. It may be past time that the post WW2 system can be saved, if that is the case, it is a certainty that it is all the US;s own fault. More and more people and politicians are becoming aware and interested in a solution to the situation. Here is an article in that regard. Suffice to say that military adventurism, and a complete lack of fiscal prudence over a long time brought us here. And lets not blame Keynes, who like Adam Smith and many other thinkers had their theories and writings reduced to some flippant maxim.

Financial Follies: Is the Fed Encouraging Credit Card Company Foot-Dragging?


The financiers all know, or know of each other. Additionally there is an extreme bias toward capital and away from labor. The Right is never concerned about “moral hazard” when high stakes white collar theft is the issue.
More on Economy
Read the Article at HuffingtonPost



Free trade in the global economy is affected by politics, and the extraordinary cheapening of transport and communication costs. The transport and communication technology’s dramatic reduction in cost and increase in speed allows for business models that were inconceivable earlier in my own lifetime, except to prescient sci fi authors. There are significant concerns by many that globalization is leading to environmental degradation, and cultural destruction globally. The idea of sustainable use is taking hold among a segment of the population. But it remains to be seen how or whether this will be adopted by business. Business will jump on cost savings tied to environmental remediation, whether that concept is valid and can be demonstrated is an open concern.
The nations of the world are not all well integrated into the global system. Those countries that are somewhat integrated represent a crazy-quilt of regulations, laws, tariffs, and customs. There are no international standards or laws. Though some reference is made to both, that is simply an equivocation. There is a real concern that growth is not sustainable, or that if it is, the kind of growth ensuing will lead to a widening gap between rich and poor, and possibly revolution. Answers to these concerns are both elusive and desirable. Human tendency to put off current pain, though more costly to fix later, endures still. Human tendency towards immediate gratification, demonstrated inconstancy, and a miniscule ability to see things from other viewpoints militates against solution. However, mankind has surely proved adaptable. While we cannot seem to plan ahead our adaptability will allow some to succeed quite well. I wonder whether it will be me, my friends & family, and my country that succeeds, or fails.