The Pankian Metaphor wasGoodbye to USENET 3147

On Tue, 28 Mar 2006 21:03:28 +0200, Morten Reistad

I saved the message for studying later, but there are several points I agree with (IAmNotAnEconomist). Its a good thing that Mainland China has a stake in the stability of the US dollar. China (as you type) is so opaque that its impossible to know their priority or aims?.. Improve the conditions of their people?.. Taking over Taiwan?.. Who knows?.. Who is in charge there?..

I remember the impact that man's (Milton Friedman?) writings in the 80's, which, along a lot of other critics of the then `socialistic' idea of society, changed the aims of government. I think that we have reached the end of that phase, and a new theory is needed, not socialistic, not capitalistic, but a controlled form of capitalism. (Looking at the French Riots on TV, neo-con ideas are not popular in France!). To get back to Friedman, one of his points was the example (From my memory, its been how many years?), that the Confederacy was plagued by inflation caused by it printing money to solve pressing problems, and at one point having to stop printing to move the presses, which slowed inflation for a while.. Is running such a msssive defecit a form of printing money?..

I don't think that it is any longer possible to have any idea of how much loose dollars are out there. There is a need for those funds, whether we consider those needs good or bad is another?... How does Osama finance his network?.. Indeed, does he finance it?.. Its amazing, considering the amount of dollars out there, that they are so acceptable anywhere.

The euros role is probably helpful for the dollar, taking the absolute pressure off it. The euro itself has problems, the problems in its heartland, France and Germany, with dealing with changes in the world economy, the lax atbreastude to economics in Italy, etc.

As I have written in messages to BAH, the problem is not just the US's atbreastude to the rest of the world, but that there is no real alternative in dealing with the changing problems of our world except having the US behaving more responsibly.. Whatever ones idea of that is.. Rant, rant. Yours, in peace, hopefully..

-- greymaus Just Another Grumpy Old Man