I think the key to the coming financial crises is the exchange value of the dollar. The question of what is the proper (least damaging) level is not an easy...
2584
Gunnar Tomasson
tomasson@...
Dec 16, 2000 6:59 pm
Henry: ... a ... inflation. A short-cut to the bottom line on the relationship between interest rates and inflation is to consider the impact of higher/lower...
2585
schulte-baeuminghaus
cresscourt@...
Dec 16, 2000 7:17 pm
Henry, While I can agree with this, I am struggling to conceive what the Fed and the new Administration will do. I assume Clinton will be gone before the crash...
2586
Gunnar Tomasson
tomasson@...
Dec 16, 2000 9:24 pm
James: ... ******** The brief answer is "None of the above." For now, as in the early 1970s, the political leaders that direct these institutions and the...
2587
Henry C.K. Liu
hliu@...
Dec 16, 2000 11:15 pm
Michael, please see my recent posts which also answered some of the issues tou raised. Specifically, I will responds below your message: ... No, because no one...
2588
Henry C.K. Liu
hliu@...
Dec 16, 2000 11:27 pm
"In principle, any increase therein relative to the rate of Real World Economic Growth would be inflationary, other things being equal." The problem is in the...
2589
Henry C.K. Liu
hliu@...
Dec 16, 2000 11:35 pm
James, Baring was not systemic. It wasfraud on the part of Leeson who hid temproary losses trying to recoup. All traders has cut loss strategies but leeson...
2590
Gunnar Tomasson
tomasson@...
Dec 17, 2000 12:44 am
Henry: The phrase "other things being equal" does NOT imply that interest rate changes will not impact other economic variables. It is technical jargon for "in...
2591
Henry C.K. Liu
hliu@...
Dec 17, 2000 1:51 am
Yes Gunnar, but interest rate is a derivative, it cannot be "in and of itself." You of all people, who are so well versed in the laws of physics, must...
2592
Gunnar Tomasson
tomasson@...
Dec 17, 2000 3:30 am
Henry: There is nothing "derivative" about changes in the Fed's interest rate. Gunnar ... From: "Henry C.K. Liu" <hliu@...> To: <gang8@egroups.com> ...
2593
Henry C.K. Liu
hliu@...
Dec 17, 2000 4:07 am
Is it whimsical then? The Fed sets the ff rate based on its judgement of inflation pressure. does it not? Thus the ff rate is "derived" from the Fed's judge...
2594
Gunnar Tomasson
tomasson@...
Dec 17, 2000 4:23 am
... It is derivative of Greenspan's mood of the moment. Gunnar ... From: "Henry C.K. Liu" <hliu@...> To: <gang8@egroups.com> Sent: Sunday, December...
2595
schulte-baeuminghaus
cresscourt@...
Dec 17, 2000 8:27 am
Gunnar, While we can't be other than fearful because of the prospects you reveal, what you say is valid and is the more worrying because of your experience...
2596
schulte-baeuminghaus
cresscourt@...
Dec 17, 2000 9:13 am
Henry, Thank you for your suggestion that I might be too ethical or have too high an opinion of my fellow man. You forget my long experience in international...
2597
schulte-baeuminghaus
cresscourt@...
Dec 17, 2000 9:30 am
Henry, Depends how you define deflation/inflation. We've been over this ground before. If Greenspan were to raise interest rates significantly right now or in...
2598
Henry C.K. Liu
hliu@...
Dec 18, 2000 4:43 am
Many expect James Baker to be an influential voice in the new Adminstration. It is undeniable that he has a score to settle with Greenspan whom both bush Sr....
2599
Wray, Randall
wrayr@...
Dec 18, 2000 6:12 pm
james and all i've been busy giving/grading finals. i don't agree that the coming crisis had much to do w/the speculative bubble on wall street--would have...
2600
Wray, Randall
wrayr@...
Dec 18, 2000 6:21 pm
and, gunnar, of course i agree with you that "all else equal" higher interest rates are inflationary. but, as henry says, all may not be equal. in a heavily ...
2601
Ggard97342@...
Dec 18, 2000 8:08 pm
17 December 2000 Gardiner to gang 8 Most of us are enthusiasts for the study of archeology as a help to understanding economics. I would like therefore to...
Glad you like the writings of my old host and play mate at summer camp Rhinebeck, NY, 1972! ;-) - Worth any further connection? Arno...
2604
Henry C.K. Liu
hliu@...
Dec 19, 2000 3:33 pm
Arno, You know the author? Tell me more about Mandel. I would be interested in exchanging some ideas with him. Henry...
2605
Wray, Randall
wrayr@...
Dec 19, 2000 4:12 pm
arno/michael is this the same mandel who writes on marx and keynes? arno: did you know my house in ny is 3 miles from rhinebeck, in red hook ny? randy...
2606
Henry C.K. Liu
hliu@...
Dec 19, 2000 7:13 pm
This IMF package is not designed to save the Argentine economy. It is design to save the lender banks from a haircut at the expense of further auterity...
2607
Ggard97342@...
Dec 19, 2000 7:32 pm
In a message dated 16/12/00 06:09:39 GMT Standard Time, cresscourt@... ... Did you see the very long account, blow by blow, in the FT of what went on at ...
2608
Arno Mong Daastoel
am@...
Dec 19, 2000 7:48 pm
Hey, no kidding Randy !!! I have been to the Red Hook Air Fair !( - in 1972...) (Or whatever it is called) In fact I am also responsible for getting Norway "on...
2609
Arno Mong Daastoel
am@...
Dec 19, 2000 7:56 pm
As a matter of fact I have not seen him since 1972 bvut "he hasn't changed a bit" looking at the photos. I stayed with his family in Brooklyn for a short week...
2610
Henry C.K. Liu
hliu@...
Dec 19, 2000 11:04 pm
I have suggested that Bush and his team have every incentive to pin the inevitable recession solidly on Clinton. The Fed decision today, which I have...
2611
schulte-baeuminghaus
cresscourt@...
Dec 20, 2000 3:39 pm
Does anyone have any comment on the report below on an Australia-United States free-trade deal? My own reaction is, at least to some extent, ambivalent. On the...
2612
Ggard97342@...
Dec 20, 2000 9:17 pm
In a message dated 18/12/00 16:06:44 GMT Standard Time, aisaac@... ... Alan's maths are obviously indisputable, and supported by the empirical ...
