Perhaps I should have said, 'The public likes to assume it is a government liability'. I agree there is a big element of 'accounting fiction', but that is...
14121
D.J.Bezemer
p233369
Jun 1, 2009 7:30 pm
No, Bernanke's view is the so-called 'Credit View' which is very different from wht we call creditary economics. I include an excerpt on it (esp towards the...
14122
Gunnar Tómasson
gunnar.tomasson
Jun 1, 2009 8:25 pm
Dirk. Mainstream monetary writing has always struck me as incomprehensible - in fact, that was the reason why I decided in the context of my Harvard Ph. D. ...
14123
D.J.Bezemer
p233369
Jun 1, 2009 9:09 pm
Quite right! Bernanke's 'innovative' work is solidly within the mainstream. Dirk On Mon, 01 Jun 2009 16:24:10 -0400...
14124
Michael Hudson
peshinesmith
Jun 1, 2009 9:23 pm
It¹s getting to the point with all our good contributions that maybe we should have our OWN meeting, and publish our OWN proceedings, like the post-Keynesians...
14125
Gunnar Tómasson
gunnar.tomasson
Jun 1, 2009 10:02 pm
Second the idea. Gunnar _____ From: gang8@yahoogroups.com [mailto:gang8@yahoogroups.com] On Behalf Of Michael Hudson Sent: 1. júnà 2009 17:24 To: GANG8 ...
14126
Dr. Richard Werner
rawjapan2005
Jun 1, 2009 10:17 pm
Friends, Yes, I think this is what we should do. I have been asked by Palgrave to produce an edited book on this, and this would fit the bill nicely. How about...
14127
Michael Hudson
peshinesmith
Jun 2, 2009 1:50 am
Sounds good, Otherwise, Hirschbach (near Dresden) is a good place  where Geoffrey came for our Harvard archaeology meeting. We have a great big meeting room ...
14128
D.J.Bezemer
p233369
Jun 2, 2009 7:07 am
So do I! Dirk Mon, 01 Jun 2009 18:02:09 -0400...
14129
Geoffrey Gardiner
geoffrey276927
Jun 4, 2009 3:27 pm
Gunnar, A truly remarkable collection of comments Geoff ... From: Gunnar Tómasson To: gang8@yahoogroups.com Sent: Wednesday, May 06, 2009 5:38 PM Subject:...
14130
Geoffrey Gardiner
geoffrey276927
Jun 4, 2009 3:27 pm
Richard, I forgot an important point. Because farm rents are controlled, theoretically at a fair level, but in practice below the market rate, farm owners who...
14131
Michael Hudson
peshinesmith
Jun 4, 2009 4:09 pm
Dear Geoffrey, I think most ³farming² in Iceland is cod fishing. I gather that your principle is the same for that ‹ except that farmers don¹t have quota...
14132
Geoffrey Gardiner
geoffrey276927
Jun 4, 2009 4:32 pm
Yes, Richard, you have hit the nail. Strangely Adam Smith did not seem to realize that in certain circumstances people will happily hold non-interest earning...
14133
Geoffrey Gardiner
geoffrey276927
Jun 4, 2009 4:57 pm
Is not 'Goodwill' a function of how much one can borrow to buy an asset at above net tangible asset value? The RBS/ABN AMRO affair created a 'Goodwill' item of...
14134
Geoffrey Gardiner
geoffrey276927
Jun 4, 2009 5:58 pm
I can confirm that Hirshbach is delightful for a small conference. The limit is presumably the capacity of the hotel. http://www.hirschbachmuehle.de/index.htm ...
14135
Michael Hudson
peshinesmith
Jun 4, 2009 11:21 pm
Good definition, Geoffrey. In this case, there must be an awfully lot of goodwill in real estate. Especially commercial real estate these days. And subprime...
14136
Geoffrey Gardiner
geoffrey276927
Jun 5, 2009 10:49 am
No longer, Michael. Here commercial properties are selling at gigantic discounts to building cost. Actually although it has always been easy to borrow to...
14137
Kevin Donnelly
kevin.donnelly87@...
Jun 5, 2009 9:27 pm
Despite my best intentions and efforts, I too still have difficulty with the idea that "all money is debt", although Geoffrey spent some time explaining it to...
14138
D.J.Bezemer
p233369
Jun 6, 2009 7:41 am
Might be worth participating... Dirk...
14139
D.J.Bezemer
p233369
Jun 8, 2009 7:36 am
Dear All, Interesting conference announcement - especially for Michael and Gunnar: http://sites.google.com/site/managingfinancialinstability/...
14140
Michael Hudson
peshinesmith
Jun 8, 2009 1:27 pm
Dear Dirk, Good idea in principle, but the topics seem hopelessly econometric and mainstream academic ‹ meaning of only marginal relevance. I¹d rather be ...
14141
Michael Hudson
peshinesmith
Jun 8, 2009 3:06 pm
Dear Gunnar, Could this be proposed for Iceland? Michael Lex: How to break a currency peg, Financial Times, June 8, 2009 Posted by John Casey, FT on Jun 08...
14142
Dirk Bezemer
p233369
Jun 8, 2009 3:46 pm
Here's a good piece on the crisis from the NY Review of Books quote: "An important question—which no one seems interested in addressing—is what fraction of...
14143
Geoffrey Gardiner
geoffrey276927
Jun 8, 2009 6:05 pm
Richard, I agree it would be good to involve Tim Congdon, but I am having some difficulty getting him to understand exactly what we stand for. He sees...
14144
Gunnar Tómasson
gunnar.tomasson
Jun 8, 2009 6:14 pm
Geoffrey. Might Congdon be focusing on the first of the following: All deposits/money is credit. All credit is not deposits/money? Gunnar _____ From:...
14145
Geoffrey Gardiner
geoffrey276927
Jun 8, 2009 6:24 pm
Kevin, Do I take it you do not accept my definition of money as 'negotiable debt'. What other definition do you think will work? All other definitions I have...
14146
Geoffrey Gardiner
geoffrey276927
Jun 8, 2009 6:36 pm
Much as I would like to visit Iceland I am in Edinburgh on the dates mentioned' Geoff ... From: D.J.Bezemer To: gang8@yahoogroups.com Sent: Monday, June 08,...
14147
Geoffrey Gardiner
geoffrey276927
Jun 8, 2009 7:27 pm
The topics are written in gibberish. Goeff ... From: Michael Hudson To: GANG8 Sent: Monday, June 08, 2009 2:27 PM Subject: Re: [gang8] Interesting conference...
14148
Geoffrey Gardiner
geoffrey276927
Jun 8, 2009 7:31 pm
Gunnar, I fear not. He may be devoted to traditional 'M0,1,3,4..' watching. Geoffrey ... From: Gunnar Tómasson To: gang8@yahoogroups.com Sent: Monday, June...
14149
Michael Hudson
peshinesmith
Jun 8, 2009 8:35 pm
Yes, that¹s what I MEANT to say, Geoffrey. Michael On 6/8/09 3:16 PM, "Geoffrey Gardiner" <geoffrey.gardiner@...> ... Re: [gang8] Interesting...
