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Some antiMilton Friedman fodder...was DuPont's US Lab closure 6


Some antiMilton Friedman fodder...was DuPont's US Lab closure 7
On Tue, 16 May 2005, rrc While I'm in general agreement and appreciate the sentiments, I think the economy...

On Mon, 16 May 2005, rrc

That ain't the half of it. Do you remember the "buzz" of about ten years ago when securitization of Credit Debt was the big deal? Now, in 1-2 months ago CFO magazine...you should have seen the expansion over the last 3-4 years of securitization of receivables. It was bigger than the entire US bank loan business. Then have a look in this week's Business Week for a fairly clear article on collateralized Debt Consolidation obligations which, in 2004 was three times larger than in 2003 and is very very large. I need to read that article a few more times. From the speculations (in that article) on how this market could collapse (and reference was made to some rumblings from recent shifts in these markets and hedge funds in just the last few days), I'm wondering if our next depression could originate from a chain-reaction that expands from a trigger in the derivatives markets (all unregulated, guys).

Then, in the same issue of BW was another one of these "economist puff pieces" that said "Oh, big trade deficit is nothing to worry about" because net per capita worth has gone up 57% in the last ten years and oodles of 'hand-is-quicker-than-the-eye-bullpoo' rationalizations, and, poof, the rabbit comes outta the hat. However, the way I've been noticing it, the trade deficit has been going up more like about 10% every year, so, in the last ten years, the trade deficit is up about 100%. Sure seems like 100% trumps 57%.

Funny, you get 'whoop-de-doo-rah-rah-rah' in the same issue as 'fasten-the-seatbelt-and-pray' articles.

An economic doomsday scenario...Some antiMilton Friedman fodder
Washington, D.C., August 22, 2010, 6:15 PM EST. Transcript of video news spot by MV...

How much you wanna bet that when the real estate bubble bursts, the trade deficit keeps on going up? Or, will there be expanding unemployment and people won't buy that Chinese junk? Then, there's all that rapidly expanding personal Debt Consolidation (credit cards).


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