Mostly original content that examines financial surreality in equity markets in general, and the Japanese Stock Market in particular.
Wednesday, November 11, 2009
More Sober-Minded "Hosanna's"
All kidding aside, the recent delusional religious rationalisations by Varley and Blankfein beg a more serious reply, the best I've seen which is in Marshall Auerback's measured retort entitled Attention Mr Blankfein, posted over at New Deal 2.0. Marshall deserves reading not because his analyses are unusually lucid and hyperbole-free (which they always are), but because he always translates them into definitive (and perhaps more importantly, realistic) public policy responses, which altogether put him in a rare class amongst practitioners/financial critics.
Cassandra,
ReplyDeleteI am happpy the long drought of your insights this summer is over.
Richard C. Cook, a former Treasury official and the whistleblower on the Challenger disaster is the best-known (to me) proponent of credit as a public utility. Videos here:
http://www.opednews.com/articles/-Credit-as-a-Public-Utilit-by-Richard-C-Cook-090329-936.html
More articles at Global Research:
http://www.globalresearch.ca/index.php?context=listByAuthor&authorFirst=Richard%20C&authorName=Cook
The book Social Credit, available online at http://www.mondopolitico.com/library/socialcredit/socialcredit.htm
is the founding document of the "social credit" economic movement of the 1930s. Robert Heinlein used much of For Us, the Living to espouse this theory, and it appeared as a major element in the later Beyond This Horizon as well.
There is no reason to wait for the government to spend interest-free money into circulation. A person can do it themselves by obtaining new dollar coins from their bank/credit union. The US Mint will pay shipping on up to $500 of each Presidential dollar or $5000 Native American dollars when available.