Of course, the Fed could have tried to slow the bubble by
raising margin requirements. It's not clear this would have
worked, but then again, the Fed never tried it.
Jim wrote:
I didn't finish my thought here. The Fed had a hard job in this
situation,
which involved a private-sector-led
Of course, the Fed could have tried to slow the bubble by raising margin
requirements.
It's not clear this would have worked, but then again, the Fed never tried it.
right, but the officially-"independent" Fed isn't independent of pressure from the
financial interests, who hate that kind of
I wrote:
The Fed has clearly contributed, though the factors discussed above (the
race to the bottom, competitive austerity and export promotion) encourage
it too. I think it's a mistake to put too much blame on the Fed, because
the world economy has been facing a situation that is
Doug Henwood wrote:
--
For those interested, my supply-side gurus are taking the position that the
world economy is suffering a severe monetary deflation, mainly caused by
errors at the Fed.
...because, as every supply-sider knows (and every monetarist too -
this is one point
If you could explain to me how monetary deflation can arise from private
market relations and not the actions of a central bank(s), I would be very
interested.
David Shemano
***
http://www.csu.edu.au/ci/vol06/keen/keen.html
Ian
David Shemano wrote:
Doug Henwood wrote:
--
For those interested, my supply-side gurus are taking the position that the
world economy is suffering a severe monetary deflation, mainly caused by
errors at the Fed.
...because, as every supply-sider knows (and every monetarist too
David, I tried to give an explanation in a book, The Natural Instability
of Markets.
David Shemano wrote:
If you could explain to me how monetary deflation can arise from private
market relations and not the actions of a central bank(s), I would be very
interested.
David Shemano
--
At 02:53 PM 3/19/01 -0500, you wrote:
David Shemano wrote:
For those interested, my supply-side gurus are taking the position that the
world economy is suffering a severe monetary deflation, mainly caused by
errors at the Fed.
...because, as every supply-sider knows (and every monetarist too -
At 11:56 AM 3/19/01 -0800, you wrote:
If you could explain to me how monetary deflation can arise from private
market relations and not the actions of a central bank(s), I would be very
interested.
There is no such thing as "private market relations." Without the Fed and
other government
[EMAIL PROTECTED] writes:
At 11:56 AM 3/19/01 -0800, you wrote:
If you could explain to me how monetary deflation can arise from private
market relations and not the actions of a central bank(s), I would be
very
interested.
How could a monetary deflation not arise from "private market relations"
I don't think anything necessarily. I am simply asking questions. The two
articles I linked discuss a worldwide monetary deflation. In other words,
the Fed has not created enough dollars to satisfy the world demand for
dollars. As a result, commodity prices, as best evidenced by gold, have
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