Some interesting views from Harvard economic historian, Niall Ferguson. Among other things, he refers to this little spot of troubles as the Great Recession which he indicates may well last for better part of a decade. Besides discussing things like possible civil wars in some less stable countries, he does have some positive things to say. I agree with much of his analysis and thought I would pass it along. I picked it up over at Squirrels r Us.
http://www.theglobeandmail.com/servlet/story/RTGAM.20090223.wferguson0223/BNStory/crashandrecovery/home
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I'm glad Mr.Garth got around to reading it. The Black Swan is also an excellent read.
ReplyDeleteBoth authors tackle economic issues differently than the fortune tellers/economists. I love the historical analysis and it's not done with tunnel vision.
Somehow I don't think China is going to feel as much pain as Ferguson describes. I'm basing this on posts I've read at Angry Bear. However, some of them have tasted capitalism, as you previously said, and it may pose a problem down the road.
Interesting how Gordon Brown is in the U.S. along with our leader. Making the rounds or discussing strategy? Leader has a meeting with the former prez wife.
Posted this at Mr. Garth's
ReplyDeletehttp://krugman.blogs.nytimes.com/2009/02/24/highly-unlikely/#comments
Check out the rent link he's posted.
And I also posted this;
http://bloomberg.com/apps/news?pid=20601087&sid=aF55puGwJuS0&refer=home
I'm logging off now so I can go and thump my head against the wall.
Dee, maybe Harper and Mrs. Bush are going to have a revival? Hope they invite sister sarah.
ReplyDeleteI thought Ferguson quite realistic, and a pleasant surprise given his association with Harvard. I was beginning to wonder about that place. I think the economies of net exporters of consumer goods are going to slide in proportion to the net importing countries. Pretty simple when the interdependence is considered.
How each economy deals with it will depend on ability to cope with unemployment and levels of self sufficiency I suppose.
Sorry Comrade. I meant the other former prez.
ReplyDeleteObama is a great orator. Won't help the economy in the long run. The underlying problems are still there.
Watch for the rally but people can't spend what they don't have. Keep that in mind before drinking kool-aid. That and a belief in fairies.;)
In case some of us had oodles of money and we didn't know what to do with it, here is one idea.
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How the other half lives.
What selling lots of coffee will get you! This is the new yacht that Ron Joyce (owner of Tim Horton's Coffee) just bought.
http://www.hamiltonspectator.com/video2/sailingaway/index.html
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THOUGHT FOR THE DAY! (Courtesy wrh.com)
"We now live in a state of permanent war - a global arms industry, apparently the largest single international business, must have its products used up so more can be sold. There must be profits for the capitalists and jobs for the proles... Are we not still in Caligula's Rome?" -- David Watson, New Internationalist magazine, May 2000, p35
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A link re: the possibility of Japan losing it's status as a 'safe haven'. -- http://www.moneymorning.com/ -- plus gold may double this year.
Keep in mind that if and / or when gold rises, inflation usually follows suit.
Or, if Switzerland stutters, here are ways to make profits. I have to assume all of us at Progressive Comrades have been bailed out as well, so we all have billions to invest somewhere! -- http://tinyurl.com/cubpnn
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The Fed is using George Orwell's 'doublespeak' again. After all, didn't they help create some of these sub-primes, derivatives, all that kind of junk which sheeple bought into?
The Fed is laughing its head off! -- http://tinyurl.com/daj2pn
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One way of starting a new trade war! -- http://tinyurl.com/cxtaoh
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When fighting happens on an island, because of low wages and rising prices, it is obvious that there is something wrong with this world.
There are many examples -- this is but one. -- http://tinyurl.com/cwfd5v
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Thanks Dee for sending this over!
Okay, I thought this vid was cute and that's why I'm posting the link.
ReplyDeletehttp://www.youtube.com/watch?v=gC0sIwcAi1A&feature=related
There's an English version but I thought the German version was better.
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ReplyDeleteThis is NOT for the politically correct dimwits so prevalent in society today.
ReplyDeleteAgree / disagree with him, but he does make valid points . . .
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Racists? . . . There is a lot of truth to this. Why are Whites Racists, yet no other race is?
Proud to be White -- Michael Richards makes his point . . .
Michael Richards, better known as Kramer from Seinfeld, does make a good point. This was his defense speech in court after making racial comments in his comedy act. He makes some very interesting points...
Someone finally said it, but how many are actually paying attention to this?
"There are African Americans, Mexican Americans, Asian Americans, Arab Americans, etc. And then there are just Americans.
"You pass me on the street and sneer in my direction. You call me 'White boy,' 'Cracker,' 'Honky,' 'Whitey,' 'Caveman' . . . and that's OK.
"But when I call you, Nigger, Kike, Towel head, Sand-nigger, Camel Jockey, Beaner, Gook, or Chink . . . you call me a racist.
"You say that Whites commit a lot of violence against you. So why are the ghettos the most dangerous places to live?
"You have the United Negro College Fund. You have Martin Luther King Day. You have Black History Month. You have Cesar Chavez Day. You have Yom Hashoah. You have Ma'uled Al-Nabi. You have the NAACP. You have BET.
"If we had WET (White Entertainment Television), we'd be racists.
"If we had a White Pride Day, you would call us racists. If we had White History Month, we'd be racists.
"If we had any organization for only whites to 'advance' our lives, we'd be racists.
"We have a Hispanic Chamber of Commerce, a Black Chamber of Commerce, and then we just have the plain Chamber of Commerce. Wonder who pays for that?
"A white woman could not be in the Miss Black American pageant, but any color can be in the Miss America pageant.
"If we had a college fund that only gave white students Scholarships, you know we'd be racists.
"There are over 60 openly proclaimed Black Colleges in the US. Yet if there were 'White colleges', that would be a racist college.
"In the Million Man March, you believed that you were marching for your race and rights.
"If we marched for our race and rights, you would call us Racists.
"You are proud to be black, brown, yellow and orange, and you're not afraid to announce it.
"But when we announce our white pride, you call us racist!
"You rob us, carjack us, and shoot at us. But when a white police officer shoots a black gang member or beats up a black drug-dealer running from the law and posing a threat to society, you call him a racist.
"I am proud . . . but you call me a racist.
"Why is it that only whites can be racists?
"There is nothing improper about this E-mail.
"Let's see which of you are proud enough to send it on. I sadly don't think many will. That's why we have lost most of OUR RIGHTS in This Country. We won't stand up for ourselves!
"BE PROUD TO BE WHITE! It's not a crime yet. But it's getting real close!"
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See if you can figure out who this link is about (not too difficult!) -- http://tinyurl.com/d76cd9
"We believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited." -- Ben Bernanke, May 2007
"There is a reasonable prospect that the current recession will end in 2009" -- Ben Bernanke, February 2009
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Sarkozy hints that eastern Europe, formerly known as The Iron Curtain, is on the verge of fiscal collapse.
If it falls, the EU and Euro will go down with them, and that's when all the pins start falling -- Credit Default Swaps, Credit Card Debt, etc. -- all fall down like the King's horses and men! -- http://tinyurl.com/bnjfae