tag:blogger.com,1999:blog-2121490237517462736.post4015011558467642914..comments2024-02-20T01:52:53.299-08:00Comments on Futronomics: contrarian analysis of global macro trends, commodities, currencies, equities: Steve Keen SpeechMatt Stileshttp://www.blogger.com/profile/17977694389453612864noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2121490237517462736.post-87590605727266310452009-11-24T20:15:53.244-08:002009-11-24T20:15:53.244-08:00Matt, I know you go to that site because I have se...Matt, I know you go to that site because I have seen your comments while posting my own. I believe Keen is one of the few guys out there with standing that has a clue as to what is going on. I don't believe he is one of those that would agree that much with Moore, who is an opportunist nut. I have watched that video twice and I make a point to go to his site most days to see what is new. <br /><br />I believe the first thing I read by Von Mises was a short expose on this theory of the business cycle. In it he says the banks under rate risk and keep rates low too long and encourage long term investments that fail to make the cash flow to keep them alive. When the game goes as long as it did this time around, it creates a totally systematic situation that needs another solution other than the fend for yourself game. Keen is against the idea of what they are doing now, as he understands it is making it worse. My understanding is he is looking more for a bankruptcy settlement to clear the debt. This is going to happen whether we do it in a systematic way or wait for collapse. In some fashion, they sound like socialists. Hudson says we should go to a 100% reserve banking system and that the banks should borrow additional money from the government. I have to believe that there are some things social. <br /><br />The backbone of any bubble is the capacity to expand credit on land by inflating its value. We are now watching that process deflete in the US and some other areas like Spain and Ireland, peak in China, Canada and Britain along with Australia and bottom in Japan. I heard a guy say years ago that once a structure was put on land, its value was minimal and that the value of the property had to stand on the land. I have seen 20 year old malls on prime locations go bad, despite being among the best in Dallas with Lord and Taylors and Neiman Marcus as tenants (Neimans is an old Dallas department store, so it had a strong leg to stand on and they stayed for 2 years after the rest of the mall deserted). They tore the mall down and redeveloped the property, but the land was worth more than the mall. So, you might see how credit is floated off land. The original big time bubble was John Law's use of the Mississippi territory under the authorization of Louis XIV to issue money. Of course, Louis saw it as a scheme to get himself out of debt. Clearly Hudson is onto something when he says land is something in common, provided by nature. I can see where we need a solution or the next step isn't capitalism or communism, but famine and feudalism. A solution to avoid that is more important than any philosophy on the short term.mannfm11https://www.blogger.com/profile/06507232690375884354noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-65024153282206894132009-11-20T16:40:04.091-08:002009-11-20T16:40:04.091-08:00$IRX has collapsed ! Financial collapse up ahead ?...$IRX has collapsed ! Financial collapse up ahead ?Willy2https://www.blogger.com/profile/07184304215966665265noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-18039933462165587592009-11-20T15:48:36.828-08:002009-11-20T15:48:36.828-08:00The video (without ads) is posted on Steve Keen...The video (without ads) is posted on Steve Keen's blog at:<br />http://www.debtdeflation.com/blogs/2009/11/06/my-per-capita-talk-on-debt/<br /><br />There are about 320 comments about the video so far.<br /><br />Matt: In case you would like to check them out, my various comments on his blog are around comment number 315.<br /><br />I also very much like Steve Keen's talk. He is starting to have the credibility in Australia needed to create sensible solutions. Bullish on Australia if they get Keeny!<br /><br />If you want to read more comments on the video, you can Google on "Zero Hedge Sobering words from Steve Keen". (Zero Hedge also posted the video).<br /><br />all the best from<br /><br />Namke von FederleinNamke von Federleinhttp://emsjuwel.com/businessnoreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-25075120856617532332009-11-20T12:45:51.029-08:002009-11-20T12:45:51.029-08:00Matt, very well put. You deliver a concise explana...Matt, very well put. You deliver a concise explanation for (what seems to me) to be a simple issue that nevertheless seems to confuse a lot of smart people.RRBhttps://www.blogger.com/profile/09022375119606981298noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-70680745705159402112009-11-20T12:01:56.510-08:002009-11-20T12:01:56.510-08:00Yeah, screwy file. I put up a link instead.Yeah, screwy file. I put up a link instead.Matt Stileshttps://www.blogger.com/profile/17977694389453612864noreply@blogger.comtag:blogger.com,1999:blog-2121490237517462736.post-68187726256837563262009-11-20T10:42:13.193-08:002009-11-20T10:42:13.193-08:00The embedded video is a trailer to
Michael Moore&...The embedded video is a trailer to<br /><br />Michael Moore's "Capitalism: A Love Story"<br /><br />Maybe it is my Linux, but it just repeats over and over.mike.montchalinhttps://www.blogger.com/profile/11585962509132061997noreply@blogger.com