Saturday, November 29, 2008

A Memo of Sound Advise...

New Dec. 04, National Security Alert
#3___The Republic Destroying Democracy, Fix…

New Dec. 12, Top Broker Accused of $50 Billion Fraud
New Dec. 11, The World Credit Crisis: A Simple Introduction Part I
New Dec. 09, Do Blame The Quants, by Pablo Triana Portela
New Dec. 08, Macroeconomic Policy and the Current Depression--Posner
New Dec. 05, What Would Keynes Have Done?
New Dec. 01, What to Do, by Paul Krugman
New Dec. 01, Deficits and the Future, by Paul Krugman
New Dec. 01, Finally, System-Risk Insurance
New Nov. 30, Global Liquidity & Capital Flows – Grand Illusions, by Satyajit Das

Here's a certified mailed letter to Obama. It was returned with a note, "Due to security, Not accepting mail". Now, how is this supposed to be an open administration of people participation, when I haven't been able to receive any response of any transmission forms, for over six months? Something's drastically wrong here. Hey Obama, can't you afford to hire someone, anyone, to open or answer your letters and e-mails...?

Lloyd Gillespie

Obama for America
P.O. Box 8102
Chicago, IL 60680
(866) 675-2008

Hon. President Elect Barack Obama,

Congratulations, congratulations a thousand times over. You’ve shown the nation how to see common sense, once again___Thank You… You’ve made the nation realize real change is necessary, and desired___No-one could have achieved more… The nation has realized “Markets are more than profits”___They must have a proper law mechanics… You’ve alerted her to the fact, “Markets can not be supported by drastically imbalanced currencies”___They require balanced PPP’s(purchasing price parities)___Globally… You’ve further alerted her to the fact, “Markets can not function, while tax havens gobble and hoard profits”___This must be changed. You’ve also alerted her to the fact, “Markets cease functioning when a nation out-sources its jobs”___This must be rectified… Further still, you’ve alerted her to the fact, “Markets cease functioning when free-trade meets its limit of cheap labor”___This is a law of free-trade limits, i.e., “You can only free-trade, until cheaper labor out-trades you”

You now have the awesome responsibility of “Market-Maker In Chief”, along with “Commander In Chief”… I mention this to you with no small sense of seriousness, as you will need the key, and proper, economic and financial advisers, to deal with the seriousness of what’s to come. I’m not writing this for my own personal interests, as I only wish to offer a few very important academic names, I’ve been following for years. I personally know these people have correctly forward forecasted the present economy, as I have also, since the early `90’s. They have credentials, which I do not, as I’m a polymath autodidact___that’s beside the point. Of all the economic advisors, presently employed/advising you, none have the proper “Market-Maker” academic intelligence the present job requires, or will require. I know them all, and have tried to influence a few, in the Clinton Administration, in the `90’s, about the ever-increasing global transactions’ bubble, then forming, with no success___The truth I warned them of, is now known by all. If they didn’t act then, why should we expect them to act, correctly, now?

As number one economic advisor/Czar, it should be America’s premier academic “Market-Maker” economist, Dr. Paul Davidson, from the University of Tennesee: Subordinate to Paul Davidson should be Jane D’Arista: and Chris Whalen: They should be the head micro/macro financial/monetary architecture economists, as the rest of the world has already stated their desire of a new “Bretton Woods II”. These are America’s foremost, truly Democratic, thinkers on the “BW II International Financial Architecture”. A secondary subordinate team should be made up of Nouriel Roubini: and Marshall Auerback: as they also correctly predicted most every move the present market has taken, over the last five years. I know them to be factually true and accurate, and I trust them, as should you. I have nothing vested in any of these names___I just know them to be who you need to succeed, and only they will do, as to their specific intelligences/informations/knowledges, as relates to what I know our nation, and the world, will absolutely require___Global derivatives’ mechanics absolutely requires the above people’s extensive knowledge of...

I trust you Mr. Pres. Elect Barack Obama, as I can clearly see your heart guides your intellect, to the true analytical middle ground judgment necessary, to lead us out of this mess. I have simply offered you the compulsory, complimentary, bottom-up/top-down economic help, I know you will absolutely need…

Please approach your present team carefully, with this information, as many will be rather jealous and angry, at outside names being suggested. Some of them know who I am also, as we’ve directly corresponded. I, myself, look for nothing but the proper people placement, as per above. Of course, the choice is yours, but I know, not vetting these names, would be a grave error…

Thanks for your time,
Life-time economic investigator,
Lloyd Gillespie, age 63

If possible, these names should attend the Nov. 15, D.C. Conference, if you could make that possible, as this meeting will only be the first of many required, on into your administration, most likely culminating in a months’ long conference, as did the first BW I, in 1944. Many of my ideas, backing/supporting you and your ideas/goals, are listed at: and on my Obama Blog at:

Monday, November 10, 2008

White House Summit on Financial Markets and the World Economy

New Nov 21, National Security Alert #2___The Epistemology of Ecolo-Techno-Political-Economic Morality…
New Nov 26, Desperate Measures by Desperate Policy Makers in Desperate Times: the Fed Moves to Radically Unorthodox Policies as Economy Is in Free Fall and Stag-Deflation Deepens
New Nov 25, Global Financial System – Calling for the Plumber!
New Nov 24, What Barack Obama Needs to Know About Tim Geithner, the AIG Fiasco and Citigroup Link
New Nov 22, The Deadly Dirty D-Words: “Deflation”, “Debt Deflation” and “Defaults”. And How Central Banks Will Have to Resort to “Crazy” Policies as We Have Reached Such Bermuda Triangle of a “Liquidity Trap”
New Nov 20, Advance Preview of "America's Defense Meltdown"
New Nov 17, Despite Treasury issuance, the U.S. debt-to-gdp ratio of 360% may be topping out, by D.Holt
New Nov 16, National Security Alert #1___The Epistemology of Economics…
New Nov 16, Fabius Maximus The US economy must go to Defcon 1 and Link
New Nov 15, The Meeting of No Meeting White House Fact Sheet: Agreements of G-20 Summit, Especially read the comments section...
New Nov 14, A most important post by Paul Davidson Reforming the World's International Money LINK
New Nov 12, The G20 Role In The Current Financial Crisis
New Nov 12, The Dismal Outlook for the US and Global Economy and the Financial Markets
Addition: "We interrupt regular programming to announce that the United States of America has defaulted"

Dear Colleague:

Henry Liu and I have written a brief note (see below) to the Heads of State who will be meeting on November 15, 2008 to discuss the international implications of the current financial Crisis . Henry believes that he will be able to get the ASIA TIMES to print it on Monday, November 10, 2008 as a Headline piece. The Asia Times is a global on line publication with a web visibility of over 2,000,000 daily of highly educated readership world wide, beating,,, according to Presumably, other publications may also publish it in the EU. Perhaps among all our friends, we can recruit a public relation professional to help. Even Keynes needed Felix Frankfurter to introduce him to FDR.

Our note is as follows:

Open Letter to All Political Leaders attending the November 15 White
House Summit on Financial Markets and the World Economy

The Winter of 2007-2008 will prove to be the winter of economic
discontent and the beginning of the end of the belief that unfettered
global financial markets spread risk and promoted economic efficiency,
growth, and prosperity. For more than three decades mainstream
economists have preached, and politicians accepted, the myth of the
efficiency of markets, while burying any thoughts of John Maynard
Keynes's analysis of interconnection of financial markets and the
international payments system.

Those who do not study the lessons of history are bound to repeat its
errors. Economists forgot the events of the world-wide Great Depression
that followed the collapse of the unfettered U.S. financial markets that
were associated with the "Roaring Twenties" prosperity. Now history has
repeated itself with the deregulation of financial markets and banking
operations that occurred at the same time as the prosperity of recent
years that climaxed in 2008 with the Greatest Financial Market Crisis
since the Great Depression.

The U.S. sub prime mortgage problem that started in 2007 developed from
a small blip on the economic radar screen to a situation that has caused
the collapse of financial markets and threatened the viability of
financial institutions world wide as the contagion spread quickly via
the existing international payments system. If we are to prevent a
global Great Depression, it is time to restore Keynes's vision of how
the international payments system should work to permit each country to
promote a national full employment policy without having to fear balance
of payments problems or financial events that occur in other countries
from infecting the domestic banking and financial system.

Another Great Depression can be avoided if world leaders would
reconsider John Maynard Keynes's analytical system that contributed the
golden age of the first quarter century after World War II. The
undersigned have advocated for years a new financial architecture based
on an updated 21st century version of the Keynes Plan proposed at
Bretton Woods.

This new financial architecture will create (1) a new global monetary
regime that exists without currency hegemony, (2) global trade
relationships that support rather than retard domestic development and
(3) a global economic environment that induces each nation to promote
full employment and rising wages for its labor force.

Paul Davidson Editor, Journal of Post Keynesian Economics
Henry C.K. Liu, Visiting Professor of Global Development, Department of Economics, University of Missouri and Chairman of a New York based private investment group.

We hope you will be sympathetic to our message If you agree we invite you to support our message Let us know by sending both Henry and I an email saying you agree give us your name, title, and affiliation.

our email addresses are Paul Davidson:
Henry C.K. Liu