On Tue, 30 Oct 2001, Chris Burford wrote:
The classic description by Engels of capitalist crises observes in 1877
that the world was at that time going through its 6th crisis since 1825.
In this he describes how the markets are glutted (as in present day
Japan) but further hard cash
At 03/11/01 00:14 -0500, you wrote:
Chris,
I think you are exactly right about this. This is the answer to your
puzzle of several weeks ago - that Marx predicted high interest rates at
the peak of an expansion, but now we have low interest rates. The answer,
as you say, is expansionary
This is a much better analysis than the standard Kruman stuff, which
focuses only on the fact that nominal interest rates can't go below
(slightly above) zero.
At 05:10 PM 10/28/01 -0800, you wrote:
Puzzle in Japan: Despite Lowering Rates
To Rock-Bottom, Banks Lack Borrowers
By PHRED
At 28/10/01 17:10 -0800, you wrote:
Puzzle in Japan: Despite Lowering Rates
To Rock-Bottom, Banks Lack Borrowers
By PHRED DVORAK
Staff Reporter of THE WALL STREET JOURNAL
October 25, 2001
HIROSHIMA, Japan -- Why does Japan's economy, despite
phenomenally low interest rates, keep
Chris, you are talking about two different conditions. In a depression,
there is a mad search for money because, in part, credit is short. In
Japan, credit is abundant.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL
Chris, you are talking about two different conditions. In one case,
credit is scarce because of a depression. In Japan, credit is abundant.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
At 29/10/01 17:40 -0800, you wrote:
Chris, you are talking about two different conditions. In one case,
credit is scarce because of a depression. In Japan, credit is abundant.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL
