Originally posted by normbenignWhat a magnificent feat of revisionism this is, surely your dogmatism hasn't clouded your reasoning to the point where you can't see that the way economic history has unfolded is far more complex than "the 19th century panics".
The 19th century panics, bank failures and depressions were minor and local, because people were held responsible for bad acting. Just fifteen years after the Fed's approval, the United States and the world entered the great depression which led to the Second World War.
So in other words, you are saying the Fed was responsible for World War II? well, that seems like a likely story.
Originally posted by KazetNagorra" Inflation levels stabilize at acceptable levels and the financial system exhibits unprecedented robustness, weathering the 2008 crisis without any real problems."
- The gold standard is abolished.
- Inflation levels stabilize at acceptable levels and the financial system exhibits unprecedented robustness, weathering the 2008 crisis without any real problems.
- People whine to bring back the gold standard.
???
Inflation levels are not price increases. They are symptoms of inflation. Inflation is injecting more useless paper into an economy, which eventually will cause prices to rise.
As far as the 2008 having no real problems, what planet are you on?
Originally posted by generalissimoIf I had wanted to use other words I would have done so.
What a magnificent feat of revisionism this is, surely your dogmatism hasn't clouded your reasoning to the point where you can't see that the way economic history has unfolded is far more complex than "the 19th century panics".
So in other words, you are saying the Fed was responsible for World War II? well, that seems like a likely story.
Clearly the panics of the 1800s were minor compared to the Great Depression. The Great Depression was international largely due to national banks and their interdependency.
The depressed economies of Germany and Austria led to Hitler's rise to power.
I did not make the leap you did, but you must know that the only parties that routinely profit from any War are bankers.
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Originally posted by no1marauderAmazing isn't it?
Here's some info they might not have mentioned in your grad school:
South Korea's hard-working citizenry is not alone. [b]Greece comes second in the OECD's rankings with 2,052 hours worked on average each year, and just behind is a trio of Eastern European nations: Czech Republic, Hungary and Poland. The U.S. is also above the OECD ave ...[text shortened]... rbes.com/2008/05/21/labor-market-workforce-lead-citizen-cx_po_0521countries.html
LMAO![/b]
Ladies and gentlemen I give you the 4th Reich (aka the European Union).
Only this time the Germans didn't require a blitzkrieg to conquer Greece. A common currency and a banking system got the job done.
Originally posted by UllrBut they didn't get past Britain!
Amazing isn't it?
Ladies and gentlemen I give you the 4th Reich (aka the European Union).
Only this time the Germans didn't require a blitzkrieg to conquer Greece. A common currency and a banking system got the job done.
Do you think so this time?
I very much doubt it. 😉
-m.
Originally posted by UllrSo do you think the economic potential shut-down contendors for the collapse of the Euro really think they should have followed suit with the inventors of it?
No apparently Britain is smart enough to sit this one out and maintain control of it's own currency.
Britain said no, for obvious reasons - and, yet to be neighbours, still had a contribution to Greece's last bail out, although knowing it was dead 'rental' money.
Glad it has been recinded so far, of GB aid.
Do you think Germany and France fear now, and wish they had maintained their Mark and Franc, or will they laugh all the way to the bank once 5 or 6 defaults start queueing up?
I have no idea, but I'm interested for opinions..
-m.
(p.s. Additionally, do you think China will invest heavily IN business assets, land and buy out potential, from potential default countries/states?). I'm an optimist, and think they can.
The Yuan is currently close to being legitimised as accepted currency in Russia, is it not? 😲
Originally posted by normbenignactually it was the huge war indemnity that was imposed upon Germany by France and Britain after the first world war which did much to wreck the German economy.
If I had wanted to use other words I would have done so.
Clearly the panics of the 1800s were minor compared to the Great Depression. The Great Depression was international largely due to national banks and their interdependency.
The depressed economies of Germany and Austria led to Hitler's rise to power.
I did not make the leap you did, but you must know that the only parties that routinely profit from any War are bankers.