... Well, I guess the old solution is still valid - in principle: Autharky ;-) Therefore Fichtes book with the ironic title "The Closed Trading State" Or more...
This strikes me as nonsense. Just see how much cheaper our life is due to imports from non-EU countries - or more structurally, how much we depend on non-EU...
Arno, this is precisely the logic I explained in Global Fracture (1978). There¹s no other logical solution that I can find. The alternative is for Europe...
Dirk, how do you propose to ³resolve BoP problems²? The US won¹t give economic value to its dollars. That means that Europe must find the ³greater fool²...
Michael, My issue was NOT with resolving BoP problems by moving away from export dependence on the US. But autarky implies also cutting off imports e.g. from...
Fine, Dirk. Not autarchy, but simply excluding the US from an exploitative system. This assumes an asymmetrical world economy in times to come. Given Europe¹s...
dear Geoffrey, I think EVERYONE is biased - not just agnostics or believers! Making those biases explicit - not pretending they do not exist - is the most ...
Incredible, the demands the West makes on foreign gov'ts. They are to hire "financial professionals" and NOT act in any national self-interest. Why would any...
I thought Jesus was not of the tribe of Levi, not a Cohanim, and therefore could not be a Rabbi. I agree he must have known a dialect of Aramaic, but surely...
from the UK's channel 4 news: SOMETHING AFOOT IN THE CITY There's something going on in the City. It's hard to divine precisely what it is, but it seems to...
Likewise here, Dirk: From today's WSJ a few minutes ago: Financials logged heavy losses amid continued concern over the exposure of banks and Wall Street...
This is what I have been telling my doctor, my dentist, my Probus colleagues and every other person who has asked me. A spanking profit for the Bank. But it is...
Geoff I can see why the BoE extending interest-free credit directly to you and me in an uncontrolled way is not a great idea - Congdon of course refers to...
Chris, I am assuming it is not in substitution. Depositors have withdrawn funds and placed them elsewhere, so the credit provided by the BofE should be new...
Gary wonders about views on the Greenspan book and movie..... ... From: Gary Santos Sent: Tuesday, November 06, 2007 4:20 AM Subject: Greenspan mentions gold ...
"The Euro as a Reserve Currency: A Challenge to the Pre-Eminence of the US Dollar?" BIS Working Paper No. 218 Contact: GABRIELE GALATI Bank for International...
Thanks for sharing Arno. Awful. Evasive and bland. But then it is for a Fox audience. Some food for thought though. I am copying in Richard who may be ...
The attachment to this message shows that the gloom in the banking world has been overdone. Note however that the gloom in property and other asset markets is...
Niews in the Dutch morning papers: Prices of dairy and cereal products to rise strongly - in september only it was 13 %, more is in the coming The controversy...
Well done ING, the chauvinist in me says. But hold on - with the underlying net profit up 19.2% to EUR 1,946 million including a EUR 455 million net gain on...
I thought it said the underlying profit was up, excluding the sale of AMRO. Must look again but have to go out now. Geoff PS. We hold ING shares! We have faith...
Dear Geoffrey et al, We're all agreed that interest is an expense and hence, higher interest rates raise prices, all other things equal. But interest rates...
Dear Michael. In the early 1970s, the US Administration chose to scuttle the Bretton Woods system rather than scale back its domestic and foreign economic,...
Right now, lengthening maturities IN DOLLARS won¹t help, if foreigners don¹t think the US has the will or intentions to pay. They want guarantees in euros or...
Group, I mentioned Paul de Grauwe's article in the FT. I attach Michael Moore's messages to him and me. 'My Mr Churchill' refers to Michael's habit of sending...
Dirk, I thought it was clear that there is a world shortage, partly due to the CAP now being designed to encourage farmers not to grow things. The stockmarket...
I have downloaded this paper. That anyone should think it a good thing for the Euro to be a reserve currency amazes me. such a status can only be obtained by...
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