Morten Reistad <
fi...@last.name> writes:
> Not all economists do. Many see growth as a solver of many problems
> that would require some hefty spines of the politicians that have to
> tackle them. A cop-out.
>
> Growth keeps fiat money in place, so the politicians can collect the
> inherent 3-4% float, and the 2-3% tehcnology deflation. In reality
> they can print 5-6% money. As long as there is growth to mask the
> effects.
>
> No wonder the FED no longer publishes M3 figures (the real amount
> of money, not just cash or checking/credit cards, but also the
> savings and clearing accounts that hold the big volumes).
>
> Growth also masks the great increases in inequality, the power
> concentration into megacorporations, because there is something
> for everybody.
>
> Without growth the americans will, in short, make another revolution.
> After all, they were pretty good at it the last time around.
there were a couple articles/programs that a number of
(prominent/university) economists that they &/or their departments have
(undisclosed) large grants from large corporations (and/or are
consultants for), creating appearance of conflict of interest and/or
bias.
I visited these guys in the last century when they were still housed in
state incubator quarters (converted grade school) ... they now have more
upscale address. Early in the last decade they raised issues on how
wallstreet was treating risk
http://www.kamakuraco.com/
one of their founders recent blog entries
Collusion and CDS Dealer Volume
http://www.kamakuraco.com/Blog/tabid/231/EntryId/362/Collusion-and-CDS-Dealer-Volume.aspx
The Credit Default Swap Market and Anti-Trust Considerations
http://www.kamakuraco.com/Blog/tabid/231/EntryId/371/The-Credit-Default-Swap-Market-and-Anti-Trust-Considerations.aspx
and has reference to level of transparency and visibility at DTCC.
http://en.wikipedia.org/wiki/National_Securities_Clearing_Corporation
the above wiki entry used to also have big section about DTCC records
and illegal naked short sales.
After working on financial transaction standards in the last century, I
had been asked in to NSCC (before merger between NSCC & DTC) to look at
improving integrity of trader transactions. After having worked on it
for awhile, I was told that the work was suspended, that side-effect of
the integrity work would have greatly increased transparency and
visibility ... which apparently is anathema to trader culture (a number
of recent articles about wallstreet is the antithesis of "open market")
this mentions over $700 Trillion in derivatives
http://www.atimes.com/atimes/Global_Economy/ML14Dj02.html
also mentioned in this google+ entry
https://plus.google.com/u/0/102794881687002297268/posts/Zwu2dKeWBsJ
other recent (long-winded) comment about FED (and IMS hot-standby)
http://www.garlic.com/~lynn/2012.html#67 Has anyone successfully migrated off mainframes?
there are a number of blogs that reference this graph/comparison ...
including this one:
http://globalguerrillas.typepad.com/globalguerrillas/2011/10/journal-why-the-us-middle-class-is-broken.html
a few recent posts mentioning above:
http://www.garlic.com/~lynn/2012.html#1 The war on terabytes
http://www.garlic.com/~lynn/2012.html#3 We are on the brink of a historic decision [referring to defence cuts]
http://www.garlic.com/~lynn/2012.html#30 Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present
http://www.garlic.com/~lynn/2012.html#45 You may ask yourself, well, how did I get here?
--
virtualization experience starting Jan1968, online at home since Mar1970