http://www.huffingtonpost.com/robert-naiman/stephen-kinzer-hits-the-r_b_84064.html
http://www.dailykos.com/story/2008/1/30/125112/210/181/446284
tour link, with schedule:
http://www.follyofattackingiran.org/
we're also doing a push on Facebook today - if you're on Facebook, the
link is here:
The conventional wisdom is that the Fed is worried about a recession.
The Fed did the 3/4 point cut the morning after Asian and European
markets crashed. (Plus another 1/2 point just now.)
I think they were/are more worried about the stock market. If the US
market had tanked the morning after
On Jan 30, 2008, at 3:24 PM, Eugene Coyle wrote:
Throwing people out of work with monetary policy to deal
with inflation has always been something the Fed was happy to
embrace.
Yeah, but they haven't really done that to any major degree since
1979-1982. They tried to arrest and reverse the
Eugene Coyle wrote:
The conventional wisdom is that the Fed is worried about a recession.
The Fed did the 3/4 point cut the morning after Asian and European
markets crashed. (Plus another 1/2 point just now.)
I think they were/are more worried about the stock market. If the US
market had
Paul Phillips
Charles Brown wrote:
By the way, the commodity produced by a teacher is labor power.
CB
Not necessarily. There is a huge adult education industry out there
with teachers instructing in everything from foreign languages for
tourists to music appreciation to craft welding all
This may be just the first in a continuing series based on the time I
have available and on the availability of suitable candidates—I imagine
that the second condition will be a lot easier to meet. It is written in
the spirit of Keith Olbermann’s “Worst Person in the World” awards that
he
On Jan 30, 2008, at 3:47 PM, Jim Devine wrote:
Free Jerome Kerviel and all other political prisoners!
A rogue trader, as they say, is one who starts losing money.
Doug Henwood wrote:
A rogue trader, as they say, is one who starts losing money.
Isn't it that a rogue trader is one who's caught?
--
Jim Devine / Segui il tuo corso, e lascia dir le genti. (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
Same difference.
On 1/30/08, Jim Devine [EMAIL PROTECTED] wrote:
Doug Henwood wrote:
A rogue trader, as they say, is one who starts losing money.
Isn't it that a rogue trader is one who's caught?
--
Jim Devine / Segui il tuo corso, e lascia dir le genti. (Go your own
way and let people
By these rate cuts at a time of high and rising inflation the fed is
sending a four word message: ITS TIME TO PANIC.
Shane Mage
Thunderbolt steers all things...it consents and does not consent to
be called Zeus.
Herakleitos of Ephesos
On Jan 30, 2008, at 4:00 PM, Louis Proyect wrote:
This may be just the first in a continuing series based on the time
I have available and on the availability of suitable candidates—I
imagine that the second condition will be a lot easier to meet. It
is written in the spirit of Keith
On Jan 30, 2008, at 3:47 PM, Jim Devine wrote:
Free Jerome Kerviel and all other political prisoners!
A rogue trader, as they say, is one who starts losing money.
But Kerviel *is* free--on his opn recognizance.
me: Free Jerome Kerviel and all other political prisoners!
Shane: But Kerviel *is* free--on his opn recognizance.
hey, it was a joke, hearkening back to when the left was always
calling for freeing political prisoners.
--
Jim Devine / Segui il tuo corso, e lascia dir le genti. (Go your own
On Jan 30, 2008 3:39 PM, Jim Devine [EMAIL PROTECTED] wrote:
hey, it was a joke, hearkening back to when the left was always
calling for freeing political prisoners.
When you consider that at least 80% of California's prison population
is there for drug related crimes, that means 80% of the
Sorry... forgot to add: Maybe THAT'S what the 'fed'(s) is (are) worried about.
It sounds complicated, but it's really fairly simple. Banks lent
hundreds of billions of dollars to homebuyers who can't pay them back.
Wall Street took the risky debt, dressed it up as fancy securities,
and sold it around the world as safe investments. It sounds like a
shell game or Ponzi
Maybe it's time to read Minsky.
To nobody in particular, any suggestions on that front?
By these rate cuts at a time of high and rising inflation the fed is
sending a four word message: ITS TIME TO PANIC.
Try http://www.levy.org/vdoc.aspx?docid=968
That's a paper by Randall Wray published by the Levy Institute several
weeks ago. I found it helpful.
When I was just starting grad school Minsky came to speak. I'd never
heard of him and can't remember a thing.
Gene Coyle
On Jan 30,
On Jan 30, 2008, at 9:16 PM, Eugene Coyle wrote:
When I was just starting grad school Minsky came to speak. I'd never
heard of him and can't remember a thing.
Funny. I sat next to him at the opening ceremony for the Levy
Institute's building about 15 years ago and he slept through the
whole
Thanks, Doug. I didn't get the Fed press release you are operating
from.
What was the Fed up to raising rates from the middle of 2004 until mid
2007, going from 1% to 5.25%? Not that it wasn't the right move when
the Fed began, but obviously they wanted to slow down the economy.
I agree they
I invited Minsky to Chico. I think everybody here -- even the conservatives --
appreciated his visit.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com
Max,
I tried to send a response a little while ago but it is in the ether
but not on Pen-l. Here is a recreation:
I found this paper helpful.
Lessons from the Subprime Meltdown
by
L. Randall Wray*
Senior Scholar, The Levy Economics Institute, and
Professor, University of
CAN IT HAPPEN AGAIN? and JOHN MAYNARD KEYNES are good books by
Minsky. -- Jim D.
On 1/30/08, Max B. Sawicky [EMAIL PROTECTED] wrote:
Maybe it's time to read Minsky.
To nobody in particular, any suggestions on that front?
By these rate cuts at a time of high and rising inflation the fed is
Minsky is a genius. It is a mystery to me why he is so obscure.
http://www.levy.org/pubs/wp74.pdf
---snip
The Financial Instability Hypothesis
Abstract
The Financial Instability Hypothesis (FIH) has both empirical and
theoretical aspects that challenge the classic precepts of
On Jan 30, 2008 1:00 PM, Louis Proyect [EMAIL PROTECTED] wrote:
This may be just the first in a continuing series based on the time I
have available and on the availability of suitable candidates—I imagine
that the second condition will be a lot easier to meet. It is written in
the spirit of
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