Basically, though, you are suggesting that China otherwise would have had to use debt to finance its 8 cities initiative...to absorb its rural populace into its new cities modelled after Shanghai. Because of the contradiction faced by the Fed. Reserve--to be at once a global central bank (and also monitor U.S. financial stability)--China was able to use the "gap"--as an alternative to having to issue its own debt--to finance its build-out. I like your analytical thinking. What other reference sources would you recommend, Mr. Bruce?
Get people to Send a free prewritten fax to Sen. Minority leader Mitch McConnell telling him to STOP EVERY REPUBLICAN FILIBUSTERS, get the Employee Free Choice act enacted into law, along with single payer universal health care, a fix for the Medicare Prescription drug benefit, a 10 dollar an hour minimum wage, an end to the Iraq war and until that happens you will boycott some Republican campaign contributors.
You can go to http://write-congress.democratz.org and send Mitch McConnell a free prewritten fax. This web site appears completely noncommercial. I don't sell anything there.
We have to hit the friends of the GOP in their wallets. Oh and if you only send your fax, this will fail. You need to get friends to send the fax and have their friends send the free fax and so on.
Thank you!
Dennis Baer
516 579 2568
PS the prewritten fax reads thusly:
Hello
I want the following actions taken
and legislation enacted into law.
Congress and the President must
enact HR 676 single payer universal
health care and set up a new
prescription drug benefit in
Medicare Part B covering 80% of the
cost of all drugs with no extra
monthly premiums, no extra yearly
deductible, no means tests, no
coverage gaps, and remove the means
test for Medicare Part B and until
that happens, I won't buy ANYTHING
from Republican contributor
Rite Aid Pharmacies.
The President must end the war in
Iraq and until that happens
I will not buy any products from
Republican contributor and War
contractor General Electric
Corporation.
Congress and the President must
enact a $10/HR MINIMUM WAGE
into law and until this happens
I will not go to any Republican
contributor Wendy's Restaurants.
In 2008 Brown-Forman of Kentucky,
the maker of Jack Daniels Whiskey
and Southern Comfort gave Mitch
McConnell money for his campaign.
SENATOR McCONNELL MUST NOT
EXECUTE ANY REPUBLICAN
FILIBUSTERS FOR 8 YEARS
DURING THE OBAMA PRESIDENCY
AND MUST GET THE EMPLOYEE
FREE CHOICE ACT ENACTED
INTO LAW AND UNTIL THAT
HAPPENS I WON'T BUY JACK
DANIELS WHISKEY OR SOUTHERN
COMFORT OR ANY OTHER OF THEIR
PRODUCTS.
It's evident that CANDIDATE Obama"s promise to punish companies that offshore jobs and reward those that keep jobs in the US was forgotten by PRESIDENT Obama, silly me, I actually believed him when he promised that to America many times over the campaign. At the rate Obama is going he will be a one termer, if I wanted more of Bush I would of voted McCain/Palin, I guess only the faces change, but the game remains the same, wipeout the middle-class seems to be the governments agenda.
... and it is mass transit that requires very high population densities, not all kinds of rail. Regional stopping trains are effective at population densities where even buses drop out of the picture. Rapid streetcars can allow short stretches of streetcar line to knit together small towns and small cities while the majority of the route runs in existing rail right of way. There is a wide variety of light rail technologies that meet a range of transport tasks.
And, of course, it does not matter at all for high speed rail what the local population density is, any more than airports require a certain minimum population density before they can function.
Now, even in the face of the massive subsidies to cars that we have adopted as policy, big cities see continued survival of mass transit lines, because they have the density to support them, and because no other form of transit can approach its efficiency in use of valuable urban space.
But if we were to simply level the playing field and have road projects and rail projects compete for transport funding on a level playing field, we would quickly reverse the present funding ratio and be building more new rail route miles than new highway lane miles. And the rail projects attracting funding would run the gamut.
... China had to generate Chinese currency and buy US$ assets in order to maintain their exchange rate at a discount below what a floating exchange rate would be. That was to ensure the competitiveness of Chinese exports overseas, as the Chinese relied on manufacturing export growth to help soak up the massive demographic bubble they are trying to negotiate.
After Mao's policies to deliberately create a population explosion, it just takes a long time to reverse the massive demographic bubble that resulted, and while they are faced with that, and the immediate threat to the survival of the Chinese regime if there are no jobs to provide to at least some of the new entrants into the labor force, the exchange rate policy is the priority, and the accumulation of US sovereign debt as foreign exchange reserves is a purely secondary consideration.
With the demographic bubble cresting in the coming decade, the Chinese will be in a position to allow their exchange rate to rise.
However, the question is not what the Chinese or anyone else is going to do in the future ... people using Milton Friedman's Monetarist economics to predict hyperinflation are ignoring economic history (as mainstream economists normally do) ... a debt default leading to hyperinflation requires that we owe a lot of debt in foreign currency. And at this point in time, we just don't.
Oh yes they are. He had NASSCOM meeting where they demanded more Visas and I know for a fact he's heard about this.
Also, Harvard these days seems to have "group think" of their entire economics department that somehow shipping U.S. jobs overseas and labor arbitraging Americans is "good" economics.
Boy, I wouldn't pay a dime for their "education" for they seemingly cannot read any data or statistics...
just spin out this "religion" not based on what is really happening economically.
If Bill Gates and Warren Buffet frequently calls him then he is already influenced. Now he just has to find out more how he can get rid of the middle class jobs.
Of all the White House Briefings, Obama Conferences; I still have to hear somebody ask about Guest Foreign Worker Visas.
Letting US workers go so they can be replaced by Offshore workers is bad enough, but to do it while asking for stimulus money is an insult to every US tax payer!
Let IBM and the US government know you are against US tax payer money going to create jobs offshore!
is probably that a new authority that monitors systemic risk will be enough. This is a huge mistake because any authority is only as good as it is willing to exercise that authority. If we have an administration like Bush's we will be right back in the same situation 10, 20 years from now.
I can't understand how IBM could justify spending US taxpayer money by offshoring jobs. The stimulus money should be used to create and/or keep US jobs.
A lot has to do with "low wage, low skill' but a lot ALSO has to do with high wages, or high wage high skilled which can be sourced cheaper abroad and transferred back to the USA in the process called "labor abitrage". Obama is a legal scholar, and knows many of these terms. He should explain the truth of labor arbitrage to Americans anxious about their economic future.
Or he should get such a huge push from the grass roots populist movement that he HAS to acknowledge and accept it.
Is indeed the most important, it seems to me. Interstate banking *needs* very heavy regulation.
And the only way to do that is to replace the attitude of too big to fail with Too Big To Succeed
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
Whew, that is one sobering read. I saw Simon Johnson on Bill Moyers Journal a few weeks ago. He was worried and pessimistic at that time. I guess the continued dismissive attitude of the administration toward professional and academic criticism, as well as their condescension toward populist outcry, has moved him to apocalyptic. I don't disagree with him. This is going to be very unpleasant.
We still have the key to the room where the money is printed...
Following quickly on the heels of last week's news that the Federal Reserve plans to print up another trillion dollars came this announcement that a UN panel wants to replace the greenback with a shared basket of currencies.
And CHINA ANNOUNCED:
The world needs a reserve currency that is disconnected from individual nations and is able to remain stable in the long run.
The role of the SDR has not been put into full play due to limitations on its allocation and the scope of its uses. However, it serves as the light in the tunnel for the reform of the international monetary system.
The price is becoming increasingly high, not only for the users, but also for the issuers of the reserve currencies. Although crisis may not necessarily be an intended result of the issuing authorities, it is an inevitable outcome of the institutional flaws.
so, do not worry. we still have that key
these financial conglomerates and then try to re-regulate them. It was better to deal with them in a weakened state. Once strengthened they will resist with all of their resources (that we provided) to fight re-regulation.
If the people in that White House East Room only knew what I know. Or had read your previous blogs, this type of economic/labor misdirection would be quickly discredited.
BofA and Citi are trying to drive up the price of these toxic assets ahead of PPIF debut. This could help them profit from over-inflated prices when they sell to private investors.
So now they are using the bailout money to buy more toxic assets instead of lending. It is time to kill these zombies.
Basically, though, you are suggesting that China otherwise would have had to use debt to finance its 8 cities initiative...to absorb its rural populace into its new cities modelled after Shanghai. Because of the contradiction faced by the Fed. Reserve--to be at once a global central bank (and also monitor U.S. financial stability)--China was able to use the "gap"--as an alternative to having to issue its own debt--to finance its build-out. I like your analytical thinking. What other reference sources would you recommend, Mr. Bruce?
I have a plan to get the EFCA enacted and more.
Get people to Send a free prewritten fax to Sen. Minority leader Mitch McConnell telling him to STOP EVERY REPUBLICAN FILIBUSTERS, get the Employee Free Choice act enacted into law, along with single payer universal health care, a fix for the Medicare Prescription drug benefit, a 10 dollar an hour minimum wage, an end to the Iraq war and until that happens you will boycott some Republican campaign contributors.
You can go to http://write-congress.democratz.org and send Mitch McConnell a free prewritten fax. This web site appears completely noncommercial. I don't sell anything there.
We have to hit the friends of the GOP in their wallets. Oh and if you only send your fax, this will fail. You need to get friends to send the fax and have their friends send the free fax and so on.
Thank you!
Dennis Baer
516 579 2568
PS the prewritten fax reads thusly:
Hello
I want the following actions taken
and legislation enacted into law.
Congress and the President must
enact HR 676 single payer universal
health care and set up a new
prescription drug benefit in
Medicare Part B covering 80% of the
cost of all drugs with no extra
monthly premiums, no extra yearly
deductible, no means tests, no
coverage gaps, and remove the means
test for Medicare Part B and until
that happens, I won't buy ANYTHING
from Republican contributor
Rite Aid Pharmacies.
The President must end the war in
Iraq and until that happens
I will not buy any products from
Republican contributor and War
contractor General Electric
Corporation.
Congress and the President must
enact a $10/HR MINIMUM WAGE
into law and until this happens
I will not go to any Republican
contributor Wendy's Restaurants.
In 2008 Brown-Forman of Kentucky,
the maker of Jack Daniels Whiskey
and Southern Comfort gave Mitch
McConnell money for his campaign.
SENATOR McCONNELL MUST NOT
EXECUTE ANY REPUBLICAN
FILIBUSTERS FOR 8 YEARS
DURING THE OBAMA PRESIDENCY
AND MUST GET THE EMPLOYEE
FREE CHOICE ACT ENACTED
INTO LAW AND UNTIL THAT
HAPPENS I WON'T BUY JACK
DANIELS WHISKEY OR SOUTHERN
COMFORT OR ANY OTHER OF THEIR
PRODUCTS.
Thank you.
It's evident that CANDIDATE Obama"s promise to punish companies that offshore jobs and reward those that keep jobs in the US was forgotten by PRESIDENT Obama, silly me, I actually believed him when he promised that to America many times over the campaign. At the rate Obama is going he will be a one termer, if I wanted more of Bush I would of voted McCain/Palin, I guess only the faces change, but the game remains the same, wipeout the middle-class seems to be the governments agenda.
... and it is mass transit that requires very high population densities, not all kinds of rail. Regional stopping trains are effective at population densities where even buses drop out of the picture. Rapid streetcars can allow short stretches of streetcar line to knit together small towns and small cities while the majority of the route runs in existing rail right of way. There is a wide variety of light rail technologies that meet a range of transport tasks.
And, of course, it does not matter at all for high speed rail what the local population density is, any more than airports require a certain minimum population density before they can function.
Now, even in the face of the massive subsidies to cars that we have adopted as policy, big cities see continued survival of mass transit lines, because they have the density to support them, and because no other form of transit can approach its efficiency in use of valuable urban space.
But if we were to simply level the playing field and have road projects and rail projects compete for transport funding on a level playing field, we would quickly reverse the present funding ratio and be building more new rail route miles than new highway lane miles. And the rail projects attracting funding would run the gamut.
... China had to generate Chinese currency and buy US$ assets in order to maintain their exchange rate at a discount below what a floating exchange rate would be. That was to ensure the competitiveness of Chinese exports overseas, as the Chinese relied on manufacturing export growth to help soak up the massive demographic bubble they are trying to negotiate.
After Mao's policies to deliberately create a population explosion, it just takes a long time to reverse the massive demographic bubble that resulted, and while they are faced with that, and the immediate threat to the survival of the Chinese regime if there are no jobs to provide to at least some of the new entrants into the labor force, the exchange rate policy is the priority, and the accumulation of US sovereign debt as foreign exchange reserves is a purely secondary consideration.
With the demographic bubble cresting in the coming decade, the Chinese will be in a position to allow their exchange rate to rise.
However, the question is not what the Chinese or anyone else is going to do in the future ... people using Milton Friedman's Monetarist economics to predict hyperinflation are ignoring economic history (as mainstream economists normally do) ... a debt default leading to hyperinflation requires that we owe a lot of debt in foreign currency. And at this point in time, we just don't.
Oh yes they are. He had NASSCOM meeting where they demanded more Visas and I know for a fact he's heard about this.
Also, Harvard these days seems to have "group think" of their entire economics department that somehow shipping U.S. jobs overseas and labor arbitraging Americans is "good" economics.
Boy, I wouldn't pay a dime for their "education" for they seemingly cannot read any data or statistics...
just spin out this "religion" not based on what is really happening economically.
If Bill Gates and Warren Buffet frequently calls him then he is already influenced. Now he just has to find out more how he can get rid of the middle class jobs.
Of all the White House Briefings, Obama Conferences; I still have to hear somebody ask about Guest Foreign Worker Visas.
Letting US workers go so they can be replaced by Offshore workers is bad enough, but to do it while asking for stimulus money is an insult to every US tax payer!
Let IBM and the US government know you are against US tax payer money going to create jobs offshore!
http://apps.facebook.com/causes/257851
Let IBM and the US government know you are against US tax payer money going to create jobs offshore!
http://apps.facebook.com/causes/257851
is probably that a new authority that monitors systemic risk will be enough. This is a huge mistake because any authority is only as good as it is willing to exercise that authority. If we have an administration like Bush's we will be right back in the same situation 10, 20 years from now.
Laws like Glass-Steagall have real teeth.
I can't understand how IBM could justify spending US taxpayer money by offshoring jobs. The stimulus money should be used to create and/or keep US jobs.
http://apps.facebook.com/causes/257851/48636658?m=daa413f6
A lot has to do with "low wage, low skill' but a lot ALSO has to do with high wages, or high wage high skilled which can be sourced cheaper abroad and transferred back to the USA in the process called "labor abitrage". Obama is a legal scholar, and knows many of these terms. He should explain the truth of labor arbitrage to Americans anxious about their economic future.
Or he should get such a huge push from the grass roots populist movement that he HAS to acknowledge and accept it.
Is indeed the most important, it seems to me. Interstate banking *needs* very heavy regulation.
And the only way to do that is to replace the attitude of too big to fail with Too Big To Succeed
-------------------------------------
Moral hazards would not exist in a system designed to eliminate fraud.
financial conglomerates first before we re-regulate. It seems the Obama Administration is content with preserving the status quo.
Whew, that is one sobering read. I saw Simon Johnson on Bill Moyers Journal a few weeks ago. He was worried and pessimistic at that time. I guess the continued dismissive attitude of the administration toward professional and academic criticism, as well as their condescension toward populist outcry, has moved him to apocalyptic. I don't disagree with him. This is going to be very unpleasant.
We still have the key to the room where the money is printed...
Following quickly on the heels of last week's news that the Federal Reserve plans to print up another trillion dollars came this announcement that a UN panel wants to replace the greenback with a shared basket of currencies.
And CHINA ANNOUNCED:
The world needs a reserve currency that is disconnected from individual nations and is able to remain stable in the long run.
The role of the SDR has not been put into full play due to limitations on its allocation and the scope of its uses. However, it serves as the light in the tunnel for the reform of the international monetary system.
The price is becoming increasingly high, not only for the users, but also for the issuers of the reserve currencies. Although crisis may not necessarily be an intended result of the issuing authorities, it is an inevitable outcome of the institutional flaws.
so, do not worry. we still have that key
Obama Seeks JPMorgan, Goldman, Citigroup Support on Bank Plan
these financial conglomerates and then try to re-regulate them. It was better to deal with them in a weakened state. Once strengthened they will resist with all of their resources (that we provided) to fight re-regulation.
Well said, Robert Oak!!!!
If the people in that White House East Room only knew what I know. Or had read your previous blogs, this type of economic/labor misdirection would be quickly discredited.
BofA and Citi are trying to drive up the price of these toxic assets ahead of PPIF debut. This could help them profit from over-inflated prices when they sell to private investors.
So now they are using the bailout money to buy more toxic assets instead of lending. It is time to kill these zombies.
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