Gunnar, I agree with Michael. A very good article! I have a few comments. First the formal issue, I would like references to the quotes. Then the content: ... ...
Dear Arno. Thanks for your comments - I just read them quickly and, when time permits, will respond after a second reading. At present, there are important...
Chris' article should be read by more people! ;-) ... From: chris cook To: undisclosed-recipients: Sent: Thursday, February 26, 2009 5:57 PM Subject: Carnegie...
Charts in PDF-format (155 kB) http://www.norges-bank.no/templates/article____13822.aspx A Norwegian perspective on banking crisis resolution Kristin Gulbransen...
quote: No blanket guarantees were given Once the crisis had become systemic, the Norwegian authorities acted swiftly to limit contagion. But they did not issue...
For those of you near Oxford UK, here are some interesting events. You can subscribe to this news message service. best, Dirk ============ Dear all. two...
Chris, A sensible model for this would be the Agricultural Mortgage Corporation which raised money by selling bonds and borrowing from banks and lent the...
... From: kecske_bak To: gang8plus@yahoogroups.com Sent: Friday, March 06, 2009 6:14 AM Subject: [gang8plus] Guns and Butter - Michael Hudson on KPFA Radio ...
The stuation is far different here. The villain is the government which is robbing all pensioners and foreigners blind, using the excuse of banking failure. It...
Dear Gang. I just finished translating this - and now I realize that I still have to explain the logical error in the foundations of modern monetary economics....
Dear Gang. Here is the first part of the interview. Gunnar _____ From: gang8@yahoogroups.com [mailto:gang8@yahoogroups.com] On Behalf Of Gunnar Tómasson Sent:...
Just for the record: the qoute “Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly...
Dirk, Brilliant quote! Concerning the present crash, the "experts"seems to confuse matters. It has been portrayed as a result of the US housing crisis, but...
Arno, It is indeed important to distinguish between whatever triggers the crash and the cause of the crash. Like an explosion - the wick does not cause the...
Gunnar, ... Thank you. ;-) ... - then you say someting totally logical (since capital is a derivative of labour and nature) and also someting totally against...
As Gunnar pointed out by phone, it¹s akin to the Physiocratic concept of ³sterile activity² as opposed to ³productive² (of an economic surplus). ...
Dirk, ... I surely understand that housing was a bubble, but in perspective I think this huge bubble is a minor bubble, and the one that will pop the larger...
Rich, ... I agree that there are many pins that are behind popping a bubble, and it is difficult to indentify which was the REAL trigger.... Arno ... From:...
See the NYT article at the bottom Arno ... From: peter.myers@... To: undisclosed-recipients: Sent: Tuesday, March 10, 2009 3:53 AM (5) Head of Futures...
You are right, Arno. The derivatives bubble itself is a LARGE MULTIPLE of the real estate bubble ‹ but the derivatives are based on real estate mortgages and...
dear Gang, I have second thoughts about one of the arguments that I shared with some of you last week. I noted that all debt growth is FIRE sector debt growth,...
Re: [gang8] erratumMichael, This seems very odd to me. The derivatives market was immense long before the housing bubble. Arno ... From: Michael Hudson To:...
Yes, but then everyone piled on who was not a direcct seller or producer. The BIS has the figures, year by year. That would show the magnitudes and takeoff. ...
Dear Dirk. In principle, at all times there is debt outstanding in the amount of the factor content of the economy's work in progress. Hence Keynes's argument...
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