tag:blogger.com,1999:blog-58277752012-01-24T08:43:40.626-08:00<strong>The Dictatorship of Rogue International Capital - The Global Transactions Bubble</strong>Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.comBlogger4221100tag:blogger.com,1999:blog-5827775.post-65841154095259825592012-01-24T08:43:00.000-08:002012-01-24T08:43:40.634-08:00

Author: Marshall Auerback So the ratings agencies have finally followed through on the big threat and downgraded a number of the eurozone’s credit ratings, including France and Austria, both of which have now lost their coveted Triple AAA status. Italy, Portugal and Spain were downgraded a further two notches. What does this mean and why does it matter? Investors (often badly informed) use

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-66212261621287414392012-01-18T08:36:00.000-08:002012-01-18T08:43:26.607-08:00

Satyajit Das I Satyajit Das II I thought this short comment, by Richard Wood to Satyajit Das' post at Roubini's blog, placed the horse in the field, where he belongs... "I should have summarise my proposal. Throughout the centuries governments have had two options: they could finance their budget deficits by printing money or by borrowing from the public. When inflation is high, or a threat,

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-39498948964441873332012-01-13T09:49:00.000-08:002012-01-13T09:53:26.828-08:00

Check out the statistics at CHIPS... http://www.chips.org/docs/000652.pdf And the BIS... http://www.bis.org/statistics/otcder/dt1920a.pdf Oughtta' warm your heart... Those are all 'trillions of dollars' statistics...

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-73159336693062461122011-12-13T07:04:00.000-08:002011-12-20T07:46:57.098-08:00

(NEW) Fragile and Unbalanced in 2012 http://www.economonitor.com/nouriel/2011/12/15/fragile-and-unbalanced-in-2012/?utm_source=contactology&utm_medium=email&utm_campaign=EconoMonitor_Highlights%20-%20A%20Weekly%20Recap%20of%20some%20of%20the%20Best%20Pieces%20on%20EconoMonitor_10_27_111  Author: Nouriel Roubini (NEW) http://mobile.nytimes.com/article?a=882026&single=1&f=28 Will China Break?,

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-42355797294847116732011-12-01T06:44:00.000-08:002011-12-01T06:47:54.071-08:00

Posted At : November 27, 2011 11:03 AM | Posted By : Satyajit Das Related Categories: Global Sovereign Debt Crisis At best, European plans to resolve the continent’s debt crisis have been to provide funds to tide over the immediate funding problems of weaker Euro-zone members. It does little to deal with the euro-zone’s structural problems. There is still the risk that Europe enters a prolonged

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-14690604133566865532011-11-16T12:29:00.000-08:002011-11-23T08:59:17.401-08:00

"New"__The Main Event – The U.S. Debt Crisis S___, the solution was offered by Plato some 2400 years ago__Nobody has eyes or ears__Yet...!!! "--- The citizen of the ideal state will require a currency for the purpose of every day expenses; This is practically indispensable for workers of all kinds and for such purposes as the payment of wages to wage earners. To meet these requirements, the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-61144915534792755732011-11-15T07:37:00.000-08:002011-11-15T07:37:45.001-08:00

Author: Fabius Maximus  Link... Summary: The endgame for Europe (in its current form) probably has started. Like birth, nobody knows what comes next. Will the process be easy or difficult? Fast or slow? Produce an angel or monster? Here we make some guesses. Pay attention, as Europe’s travails mirror those to come for the world. Contents The present: rising stress What comes next?

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-5924196853634797512011-11-01T10:19:00.000-07:002011-11-08T06:30:34.041-08:00

by Fabius Maximus... (Also:) Europe’s Plan to End the Debt Crisis Can’t and Won’t Work – Part 1 Author: Satyajit Das  LINK... (China-Euro connection, at end of article...). Summary: The conference of Europe’s leaders concluded with little results, a failure judged by the expectations they had set. They don’t have time for many more such failures as conditions worsen, the financial

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-18607184483165249672011-10-12T12:41:00.000-07:002011-10-12T12:41:01.552-07:00

"Wisdom is an ocean of visions, poured into a dewdrop, of a single ultimate vision...." Ever look deep into the pure mind__I mean really deep, to where you can answer the questions about how thought thinks about pure thought…? Follow me to a zone you may never have been before__it won’t hurt, but it may surprise. Most think they know their own minds quite well, but do they really?__I think you’

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-16264305488649161282011-10-03T18:09:00.000-07:002011-10-03T18:17:10.089-07:00

A NEW MONETARY SYSTEM for THE ELECTROSPHERE ©LLOYD GILLESPIE [HOME PAGE] [E-MAG] [INTERNAL EXCHANGE CLEARING MECHANICS] [TRIPLE ENTRY BANKING MECHANICS] [INTRODUCTION TO INTERNAL EXCHANGE CLEARING] [TABLE OF CONTENTS] Date: 12-25-02 21:09 -------------------------------------------------------------------------------- "All problems using crude money must be overcome to survive the future

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-30923967149668287912011-09-21T09:03:00.000-07:002011-09-21T09:12:04.816-07:00

. . . . . . . . . . . . . http://www.visualcv.com/unfrozenmind

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-34448283540429572092011-08-23T13:50:00.000-07:002011-08-23T13:50:32.864-07:00

Only Alien Invasion Can Rescue Keynes by Martin Hutchinson August 22, 2011 New York Times columnist Paul Krugman, in a talk show August 14, remarked that the fiscal stimulus caused by a fake Alien invasion of the United States would best rescue the U.S. economy, providing the inflation and growth that according to him it needs (a real Alien invasion would be equally efficacious, but might cause

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-53951593847001437682011-07-22T08:11:00.001-07:002011-07-22T08:12:07.550-07:00

The Telegraph, by Peter OborneMany of the biggest losers from the Wall Street Crash were not those greedy speculators who bought at the very top of the market. There was also a category of investor who recognised that stocks had become badly overvalued, sold their shares in the summer or autumn of 1928, then waited patiently as the market surged onwards to ever more improbable highs. When the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-31624914645806183662011-05-20T06:29:00.000-07:002011-05-20T06:33:36.890-07:00

by Marshall Auerback If we keep pretending banks are just waiting for regulators to get out of the way, we’ll keep implementing the wrong policies.Banks will likely have too much cash by 2019 as a result of the Basel III global banking rules, UBS AG Chief Executive Oswald Grübel said Thursday. “In the next 10 years, at the end of 2019, we will have overly liquid, overcapitalized banks,” he said,

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-36561301053574314102011-04-22T06:59:00.000-07:002011-04-22T07:03:15.339-07:00

Fabius Maximus...(click this link to see graphs and further links...) Summary: The boomers lust for inflation. Conservatives fan this fear for political gain. The government hopes for gentle inflation to deleverage the US economy. Evidence suggests that disappointment lies ahead for all. Here we review the evidence.Most were too young, too poor, too inexperienced to get rich during the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-32962215295650720982011-04-17T06:13:00.000-07:002011-04-17T08:32:15.577-07:00

An Early Warning... by Dmitry Orlov http://www.energybulletin.net/node/23259The exponential function ez can be defined as the limit of (1 + z/N)N, as N approaches infinity, and thus eiπ is the limit of (1 + iπ/N)N. In this animation N takes various increasing values from 1 to 100. The computation of (1 + iπ/N)N is displayed as the combined effect of N repeated multiplications in the complex plane

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-64601037377608936872011-04-15T10:52:00.000-07:002011-04-15T10:54:50.019-07:00

Satyajit Das... Quantitative easing ("QE"), the currently fashionable form of voodoo economics favoured by policymakers in the US, is primarily directed at boosting asset values and creating inflation. By essentially creating money artificially, central bankers are seeking to return the world to stability, growth and prosperity.The underlying driver is to generate growth and inflation to enable

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-8437368783044757192011-03-18T08:05:00.000-07:002011-03-18T08:08:43.160-07:00

Satyajit Das Mar 17, 2011 2:39PM The behaviour of financial markets over recent days confirms British Prime Minister Lloyd George’s observation that "financiers in a panic do not make a pretty sight". While workers in the Fukushima nuclear plant risked death trying to bring damaged reactors under control, financiers cowered in fear. Oscillating between boom and doom, they sought opportunities to

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-59881772542715327192011-03-12T09:52:00.000-08:002011-03-12T10:07:49.449-08:00

For over 2500 years, and possibly more, the world has been debating personal, social and economic conditions, from a less than ideal perspective of inter-tribal differences. Can we possibly transcend our tribal allegiances of special interests, whether labor and workers, of the egalitarian vein, on the left, or business and corporations, of the competition and profit vein, on the right, and find

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-8565864341602591302011-02-18T11:09:00.000-08:002011-02-18T11:14:05.826-08:00

by Fabius Maximus Summary: Confidence provides strengths for a society, but only when coupled with clear vision. Unfortunately modern America too-often sees the future only in terms of doomsters’ pessimism and advocates’ optimism. Here we have a case study of the latter.In the run-up to the 2008 oil price spike optimists had extreme confidence in several advanced technologies as new energy

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-73854813348654557252011-02-04T09:27:00.000-08:002011-02-04T09:31:29.907-08:00

Two Pictures Show an Important Difference Between China and AmericaFabius Maximus Feb 3, 2011 7:21PM Summary: Americans tend to see the mote in China’s eye but not the beam in ours. We project our dark traits onto China, no matter how absurd. Today we see two pictures that provide a rebuttal to one common myth about China and America.The French Marshall Louis Lyautey (1854-1934) told his

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-26254419009932780282010-12-31T07:03:00.000-08:002010-12-31T07:05:26.145-08:00

Why Can’t Europe Avoid Another Crisis? Why Can’t the U.S.?By Simon JohnsonMost experienced watchers of the eurozone are expecting another serious crisis to break out in early 2011. This projected crisis is tied to the rollover funding needs of weaker eurozone governments, i.e., debts falling due in March through May, and therefore seems much more predictable than what happened to Greece or

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-73072608214901584872010-11-27T11:30:00.002-08:002010-11-27T11:33:10.187-08:00

by Martin Hutchinson... LINK...Global opposition to Fed Chairman Ben Bernanke's policy, World Bank President Robert Zoellick's "trial balloon" and statements by some of the new Republican Congressional caucus have caused a modest revival in consideration of the Gold Standard. In my view, the chances of its revival by official means in the next 10 years remain infinitesimal, but there is an

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com2tag:blogger.com,1999:blog-5827775.post-36780540185638938292010-11-07T09:00:00.000-08:002010-11-07T09:01:44.332-08:00

By Paul Davidson:After the shellacking the Democrats and Obama took in this November election, it is clear that the old time religion of classical economics will be coming back into fashion. The result is likely to be further economic disaster. I am not surprised by the failure of the Obama Administration to win over the American people to a progressive economic program. On pages 13 to 18 of my

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-33132440142835274152010-10-22T08:54:00.000-07:002010-10-22T08:56:58.423-07:00

Satyajit Das...During the European debt crisis, in a matter of days, the dollar strengthened by around 10%. The weakness of the Euro and resultant appreciation of the Renminbi by over 14% reduced Chinese exporter’s earnings and competitiveness. Some of the moves reversed equally quickly when markets stabilised. Volatility of currency exchange rates has increased markedly in recent months.To

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-35179018660576242572010-09-22T11:19:00.000-07:002010-09-26T16:54:37.522-07:00

The Theorem of Catastrophic Dis-Equilibria__As aggregate onshore wealth is de-taxed, aggregate offshore transaction wealth’s credit productivity drastically increases unimpeded, as the total aggregate onshore credit productivity is decimated__due to exchange rate, tax and tax haven systems’ necessary historical computerized mechanics of such dis-equilibria__unless government intervention be

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-56102548106116851612010-08-24T08:27:00.000-07:002010-08-24T09:18:23.088-07:00

New York, NY, August 24, 2010 – The Institute for New Economic Thinking (INET) has appointed Paul Davidson, Editor of the Journal of Post Keynesian Economics and Holly Chair of Excellence Professor Emeritus, University of Tennessee, to its advisory board. Paul Davidson, is the 31st distinguished individual to join INET’s Advisory Board, including five Nobel Prize winners. Professor Paul

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-59544193701360680732010-08-24T08:12:00.000-07:002010-09-01T09:32:22.183-07:00

by Marshall Auerback... It is time to distinguish between the truths and the myths propagated by Wall Street.A few days ago, I wrote a piece suggesting that President Obama’s attack on the proposed GOP threat to Social Security masked a more fundamental threat posed by members of his own party. Sadly, this analysis appears to be confirmed today in Mike Allen’s politico playbook:“–ADMINISTRATION

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-85466824745962203972010-08-02T18:33:00.000-07:002010-08-02T18:41:18.615-07:00

Paul DavidsonAbstract: This paper explain why, given Keynes’s General Theory, worries overthe size of the government’s national debt per se is foolish. It is more importantto educate politicians and the public that government fiscal policy should be designed to make sure that aggregate market demand will produce sufficient profitsso that entrepreneurs will hire all domestic workers willing and

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-86999797453183167522010-07-09T16:19:00.000-07:002010-07-09T16:25:20.017-07:00

by James K. GalbraithPresident Obama and his economic team face a daunting challenge: how to deliver economic growth they know can only come from deficit spending, while deferring into the future the “fiscal consolidation” which is being pressed on them by practically everyone, from Peter G. Peterson to Angela Merkel.Clearly the “bipartisan deficit commission” — like practically all bipartisan

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com3tag:blogger.com,1999:blog-5827775.post-12126400832890113252010-06-20T12:00:00.000-07:002010-06-20T12:05:34.197-07:00

The arguments of cause and effect are as old as history and philosophy herself, and probably best divided by those who classed the arguments within or without the self__those grounding or non-grounding their results within themselves, or without. The trouble is, few if any of these well known thinkers and philosophers ever tried to align both sources, and the mechanics involved to arrive at a

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-64340798334919518912010-06-14T10:43:00.000-07:002010-06-14T10:46:31.571-07:00

TECHNOLOGY’S CHALLENGE TO DEMOCRACY: WHAT OF THE HUMAN? Nikolas Kompridis(Aussie...)"We do not know what our nature permits us to be". J-J. Rousseau, EmilePART IRetrieving the normative significance of the question: What does it mean to be a human being? To say, with Rousseau, that we do not know what our nature permits us to be, is to say that our status as natural beings underdetermines our

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-6915883030483866572010-05-22T09:25:00.000-07:002010-05-22T09:26:55.992-07:00

My letter on the Stiglitz review of Robert Skidelsky's "Keynes: The Return of The Master" is printed in the May 27, 2010 issue of the London Review of Books. Paul Davidson It reads as follows:(Sent to me by Paul Davidson__The economist we need to solve the present world crisis...)The Non-Existent Hand...Joseph Stiglitz criticises Robert Skidelsky, Keynes’s biographer, for not understanding Keynes

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-25840948019272158052010-05-14T07:06:00.000-07:002010-05-14T07:13:45.004-07:00

About the Euro Crisis: The Experts Are Wrong, the German People Are Right...Fabius MaximuThe great and wise tell us that the European unification project — of which the Euro is now center state — is good. And the foolish German people are short-sighted and foolish to oppose aid to Greece that’s necessary to preserve it. They’re wrong. The German people are right.From Eurointelligence’s

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-88589094365854172612010-05-09T11:03:00.001-07:002010-05-09T11:04:42.367-07:00

Sooner Rather Than Later By Philip I. LevyWhy would the U.S. stock market drop so dramatically this week, just after Europe and the IMF agree to back Greece and the Greeks adopt a painful package of fiscal measures? Even if Thursday's roller-coaster ride turns out to be partly due to the mother of all typos that cannot explain the week's global stock market slide. One possibility is that

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-12262801420156451592010-04-11T09:51:00.000-07:002010-04-11T09:54:29.225-07:00

Going Off on Rogoff – There is No Hard Debt Constraint for Fiat Currency, by Marshall Auerback We’ve persistently taken the view that there is no economic doctrine, no magic number, which would imply a firm external constraint as far as public spending goes, when dealing with a sovereign government issuing debt in its own floating rate, non-convertible currency. At some point, we may indeed have

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-23602952863452235162010-03-29T16:41:00.001-07:002010-03-29T16:41:55.726-07:00

Uncertain Times for Business and Investors, by Robert HiggsI don't know how many times I have made the remark to friends and family that this Great Recession is occurring like a slow-motion movie. We saw the bodies sailing through the air in our peripheral vision--the Ken Lewises, the Alan Schwartzes, the Martin Sullivans, the Richard Fulds. The stock market implosion took several weeks to come

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-945769514524356942010-03-12T12:12:00.000-08:002010-03-12T12:14:38.262-08:00

Satyajit Das Mar 10, 2010 11:53AM A question of values …Derivative contracts are valued on a mark-to-market ("MtM") basis. This requires valuation of the contracts based on the current market price.OTC derivatives trade privately. Market prices for specific transactions are not directly available. This means current valuations rely on pricing models.In current accounting argot, most derivatives

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-58764319561650930002010-03-12T12:08:00.000-08:002010-03-12T12:11:54.942-08:00

Satyajit Das Mar 8, 2010 12:18AMOn 30 July 1998, Alan Greenspan, then Chairman of the Federal Reserve argued that: "Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary." In October 2008, the now former Chairman grudgingly acknowledged that he was "partially" wrong to oppose regulation of credit default swaps ("CDS"). "Credit default swaps, I think,

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-39722978053211506642010-03-07T07:07:00.000-08:002010-03-07T07:10:14.606-08:00

Part 4: A course of actionby Gordon RingoenMarch 05, 2010Last of four partsThere are no silver bullets to solve our looming energy crisis, resource depletion, and environmental pollution. But, there are surely better courses of action. Major problems are not solved, but we can create an environment whereby solutions evolve. The following 12-step program is a beginning to keep us on course as

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-12476366228547114172010-02-18T15:18:00.000-08:002010-02-18T15:30:29.424-08:00

The China Syndromeby Satyajit DasIn 1971, Ralph Lapp, a nuclear physicist, used the term "China syndrome" to describe a hypothetical nuclear reactor meltdown where the molten core breaches containment barriers and melts through the crust of the Earth reaching China. The economic equivalent of the China Syndrome describes a process in which China's strong growth, abundant savings and foreign

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-32209754213916315022010-02-11T16:46:00.000-08:002010-02-11T16:50:12.631-08:00

But Ben, A Bubble Has No National Boundaries Ben Bernanke is showing himself to be more of a Big-Government politician than a scientist. In his latest speech, he has tried to defend the actions of his predecessors by claiming that their easy-money monetary policy only holds five percent of the responsibility for the high real estate prices that ignited the boom-and-bust bubble that almost broke

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-5541773930862843102010-02-02T13:25:00.000-08:002010-02-02T13:26:47.045-08:00

Let’s atomize Wall Street, by Martin HutchinsonPaul Volcker’s proposal that proprietary trading should be spun off from deposit-taking banks is a worthwhile step in the direction of stabilizing the financial services business. However, when you consider that business in detail, it becomes clear that further breakups are necessary in order to remove the excessive risks from the U.S. economic

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-35639548312796470542010-01-22T08:57:00.000-08:002010-01-22T09:01:24.112-08:00

EMH Funeral Oration, by Satyajit DasLike Mark Anthony with Julius Caesar, many have now come to bury the Efficient Market Hypothesis (”EMH”) rather than praise it. Amusingly, some of the critics who have recently found their voice are those who for years made their living from financial markets that were predicated in no small measure from the intellectual dogmas that EMH was central to.In his

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-79095943468113891662010-01-20T11:28:00.000-08:002010-01-20T11:29:46.568-08:00

I am pleased that Posner has read what I (Davidson) wrote. Yes P{osner is correct that I have used Keynes as the basis for my analysis of uncertainty and Post Keynesian theory. When Keynes wrote, unfortunately, the theory of stochastic probability theory [ ergodic theory] had not been developed in the English language. Thus Keynes’s uncertainty is not terchnically defined and can easily be

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-13354442012134977292010-01-15T07:50:00.000-08:002010-01-15T07:52:26.294-08:00

Everyone Wants to Talk about CurrenciesMichael Pettis Jan 11, 2010 4:44PM For now I suspect everyone will want to discuss currencies. One of the more interesting pieces of news for me was yesterday’s Financial Times story on President Sarkozy’s finding “unacceptable” the disordered currency markets (“disorder” means a rising euro). According to the article:Nicolas Sarkozy on Thursday stepped up

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-36638215580583525612010-01-13T18:57:00.000-08:002010-01-15T12:58:21.778-08:00

Here's the scariest statistics you'll ever see. It's the decline in global transactions since last year's numbers__C.H.I.P.S.Global transactions have shrunk from $508,758,657,298,000 to $364,355,126,940,000 as the difference from Dec 31, 2008 to Dec. 31, 2009... That's a shrinkage of $144 trillion dollars over the year...What do you really think the outcome is going to be...?Global derivatives

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-56434870264178778922009-12-30T12:08:00.000-08:002009-12-30T12:12:48.412-08:00

This is an older article by Marshall Auerback, but one of the best about what was done by FDR, and what should now be done.But consider the historic precedents. In the words of Professor Paul Davidson:Let us look at a historical example where if this type of “what will cost to the tax payer and/or the economy?” question were asked, one of the most desirable government policies would never have

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-40567979622683829592009-12-19T13:30:00.000-08:002009-12-19T13:32:55.241-08:00

Edward Harrison here. This is an updated version of a post I wrote about two-and-a-half months ago over at Credit Writedowns. When I wrote it, I had been looking for bullish data points as counterfactuals to my bearish long-term outlook. I found some, but not nearly enough. Early this year, I wrote a post “We are in depression”, which called the ongoing downturn a depression with a small ‘d.’ I

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-68068981364396131732009-11-22T15:04:00.000-08:002009-11-23T12:02:47.259-08:00

Cascading theft … compounding miseryby Peter SoulelesAlso: A few thoughts about the limitations of government, By Edward Harrison of Credit Writedowns.I used to think that "civilized society" was defined as people collaborating and in the process of doing so, providing each other with goods and services, mostly for reward but at times – either through taxation or volunteerism – for free to those

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com2tag:blogger.com,1999:blog-5827775.post-64913995234259158532009-11-10T17:23:00.000-08:002009-11-11T14:03:29.114-08:00

The Inverse Theorem of Value__Iff Capitalist System Incentive Mechanics’ Value Is Transferred From Commodities, Goods, Services, Prices, Wages and Profits, to Fiat Money System Law, Real Wealth Can Be Created for All World Citizens…Dan McGrewFlorian Cajori...BIS, Derivatives $605 Trillion

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-49652733142294766262009-11-06T08:34:00.000-08:002009-11-06T08:35:44.215-08:00

Mother of all Carry Trades Faces an Inevitable BustNouriel Roubini | Nov 1, 2009 Since March there has been a massive rally in all sorts of risky assets – equities, oil, energy and commodity prices – a narrowing of high-yield and high-grade credit spreads, and an even bigger rally in emerging market asset classes (their stocks, bonds and currencies). At the same time, the dollar has weakened

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-62094274475613848492009-10-23T05:12:00.000-07:002009-10-23T05:14:57.626-07:00

The Snowball of Derivatives: The Specter of a Second Black Swanby Ricardo Lago | Oct 21, 2009 Banking sector consolidation (via acquisition of failed banks) and the generalized bailout of bondholders, actions both promoted by governments, have aggravated the problems of “too big to fail” and “moral hazard”. Hence incentives for reckless behavior have actually heightened.So far there has been

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-74202728926607368432009-10-12T11:23:00.000-07:002009-10-12T12:31:37.810-07:00

The Global Financial Crises' Placebo Effectsby Satyajit Das(Also see: When Money Becomes Worthless by Martin Hutchinson) Mixed metaphorsBotanical commentators are finding "green shoots." The astronomically minded have seen "glimmers." The meteorologically minded have spoken about the storms "abating." Strong rallies in equity and debt markets have confirmed the recovery for the "true believers."

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-73134703973628974492009-09-29T06:26:00.000-07:002009-09-30T09:27:32.975-07:00

Motto of the elite: “Placate the sovereign individual with complex words' systems, to keep him docile”.SB asked this question in his last post to me:“Will we allow it to be ? education into the human condition if sprinkled lightly over all people can make it s(o: - any ideas on how to bypass the politicians, bankers and lawyers who don't like people talkin', getting ideas ...?""Politicians

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-51500850186333215602009-09-23T10:11:00.000-07:002009-09-28T11:49:33.714-07:00

"“Eclecticism” is a name given to a group of ancient philosophers who, from the existing philosophical beliefs, tried to select the doctrines that seemed to them most reasonable, and out of these constructed a new system (see Diogenes Laertius, 21). The name was first generally used in the first century BCE. Stoicism and Epicureanism had made the search for pure truth subordinate to the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-10835720472498539252009-09-18T10:36:00.000-07:002009-09-18T10:37:20.990-07:00

Can any one of us truly answer the question: “How does one know the boundary line between logic and ego?” Is it even possible to discern? What is the exact criteria you use to determine whether you are using a logic faithful to your chosen field of belief? How do you even make your ideas truly clear to yourself? What are your methods? Do you even believe there are any truly value-valid methods?

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-66946685622247542702009-09-08T14:50:00.000-07:002009-09-14T16:18:33.575-07:00

(Anyone wishing to follow these dabates as they take place: cleck here)(click image for larger view)“Two things here are all-important to assure oneself of and to remember. The first is that a person is not absolutely an individual. His thoughts are what he is "saying to himself," that is, is saying to that other self that is just coming into life in the flow of time. When one reasons, it is that

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com2tag:blogger.com,1999:blog-5827775.post-54459197671970966092009-08-28T15:38:00.000-07:002009-09-04T11:19:42.625-07:00

Sandia National Laboratories Peircean Induction GraphicJohn Pollock __ The Mystery Link _ Embodied PerceptionBourdieu’s Three Relations of Knowledge ClaimsThe Economic Mind of Charles Sanders Peirce, by James R. WibleComplete Economics, Physics, Philosophy Image Library...What's A Trillion Dollars Look Like...?History has many blind spots, but none so great as exists in political economic science

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-62794132631586222362009-08-18T10:16:00.000-07:002009-08-24T19:59:20.020-07:00

Epistemology, Rationality, and Cognition, by J. Pollock VISION, KNOWLEDGE,AND THE MYSTERY LINK, by John L. Pollock & Iris Ovid"Two things here are all-important to assure oneself of and to remember. The first is that a person is not absolutely an individual. His thoughts are what he is "saying to himself," that is, is saying to that other self that is just coming into life in the flow of time.

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-86351531824255749522009-07-29T10:13:00.001-07:002009-08-15T19:01:52.975-07:00

(Early preview of Paul Davidson's new book; 'The Keynes Solution, The Path To Global Economic Prosperity')(New) Global Financial Crisis__Placebo Effects, by Satyajit Das(New, Aug. 15) Lunch with the FT: Larry Summers, By Chrystia FreelandAmerica’s seminal economist, Dr. Paul Davidson, has written the clearest vision of money and math mechanics, to date. Not since the 18th century’s true

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com4tag:blogger.com,1999:blog-5827775.post-61657236222656842692009-07-22T07:35:00.000-07:002009-07-29T06:26:22.420-07:00

The Keynes Solution, The Path To Golbal Economic Prosperity, by Paul DavidsonIS “MATHEMATICAL SCIENCE” AN OXYMORON WHEN USED TO DESCRIBE ECONOMICS? by Paul Davidson The Great Mathematical Instincts__P=NP "Two things here are all-important to assure oneself of and to remember. The first is that a person is not absolutely an individual. His thoughts are what he is "saying to himself," that is, is

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-88149655432793077492009-07-15T08:23:00.000-07:002009-07-22T07:43:25.319-07:00

Tell me, what do you think it’s going to take to reach the ‘Washington Consensus’, etc., crowd about the realities of the Equilibrium, Ergodic and EMT Theory fallacies? (NEW TRUTH) The Great American Bubble Machine, by Matt Taibbi ALTERNATIVE EXPLANATIONS OF THE OPERATION OF A CAPITALIST ECONOMY: EFFICIENT MARKET THEORY VS. KEYNES’S LIQUIDITY THEORY, by Paul DavidsonThanks to Mr. Davidson the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-46070009857072726032009-07-12T14:02:00.000-07:002009-07-15T09:27:45.032-07:00

(NEW) ALTERNATIVE EXPLANATIONS OF THE OPERATION OF A CAPITALIST ECONOMY: EFFICIENT MARKET THEORY VS. KEYNES’S LIQUIDITY THEORY, by Paul Davidson(NEW) CHIPS is shrinking more than in its history. Half year numbers...A little economic and financial truth by my favorite economist, Marshall Auerback...(full article here)...Obama, Geithner, and Summers misguided......My issue with Obama and his fiscal

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-37446391446706431542009-07-10T06:41:00.001-07:002009-07-11T08:33:44.651-07:00

(NEW) Excellent pbs 4hr. free video of 'The Ascent of Money', by Niall FergusonSatyajit Das has done an excellent job of describing the 'Global Financial Crisis' in this brilliant article. I highly recommend reading it HERE.

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-53870418828766779422009-06-23T16:32:00.000-07:002009-06-29T15:03:02.940-07:00

I'm republishing this post of June 23, 2008, as I feel it's so important to be thoroughly understood:(New June 29) The World Finance Crisis & the American Mission, By Robert SkidelskyTo Fareed Zakaria at CNN___The World’s Last One-Hundred Years, Most Important EventHi Fareed, thanks for the program, it’s great___Keep up the fine work… As to your question; “What’s the world’s last one-hundred

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-26207630816157786372009-06-08T18:28:00.000-07:002009-06-13T07:55:51.653-07:00

(NEW) Krugman's Nostalgianomics, by Brink Lindsey I agree more with Paul Krugman than Brink, but this paper offers many facts, otherwise...“CHARLES SANDERS PEIRCE” by Josiah Royce, with W. Fergus Kernan(Note)Extremely clear and concise ideas and graphs’ explications presented. (Exact Logic = Numbers = Analogical Graphs = A Universal Analogical Language of Genericity = Possibility of A Perceptual

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-72768694817855920022009-05-29T11:48:00.000-07:002009-06-07T18:06:03.435-07:00

(New)The Greatest Swindle Ever Sold By Andy Kroll"Can Future Systemic Financial Risk Be Quantified? Ergodic Vs. Nonergodic Stochastic Processes" by Paul DavidsonFabius Maximus | May 21, 2009 This financial crisis has revealed much about America. About the operation of our government. About our ruling elites, and what they consider important — and who they believe should pay for their mistakes.

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-54395905045692201002009-05-22T12:54:00.000-07:002009-05-22T13:00:03.286-07:00

This is an excellent article of our financial mess. I fully agree with Satyajit Das...Second Lesson of the GFC: Whatever It Takes!Satyajit Das | May 18, 2009 Socialist WITThe severity of the crisis was underestimated initially. Ben Bernanke, Chairman of the US Federal Reserve in March 2007 stated during Congressional Testimony: "At this juncture, the impact on the broader economy and financial

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-82299113098039945642009-05-16T14:41:00.000-07:002009-05-20T16:19:59.863-07:00

“We should chiefly depend not upon that department of the soul which is most superficial and fallible (our reason), but upon that department that is deep and sure, which is instinct.” - Charles Sanders Peirce Far too much about history has been stated in narrow analytical diatribe, inconcise nonsense, and pure empty rhetoric… Why? Are we really that dense? A simple first example; Aristotle___Most

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-61997190114681901842009-04-27T06:59:00.000-07:002009-04-28T09:44:41.648-07:00

A Song___A Plea...The economic and mathematical truth___Paul Davidson; http://econ.bus.utk.edu/davidson.htmlThe deflationary debt truth___Irving Fisher; http://fraser.stlouisfed.org/docs/meltzer/fisdeb33.pdfThe historical economic truth___Robert Skidelsky; http://www.skidelskyr.com/books/

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-3966900084933728922009-04-25T09:24:00.000-07:002009-04-25T09:27:02.995-07:00

Imagination___There’s More to `Utens’ Than First Meets the Eye…

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-70798143251838857332009-04-21T07:05:00.000-07:002009-04-21T09:41:04.308-07:00

When the Solution to the Financial Crisis becomes the Cause, by F. William EngdahlThe Realities of Understanding Capitalist Free-Trade, vs., Communist Controlled Trade, Intents and Practices…National Security Alert #3___The Republic Destroying Democracy, Fix…[Note], (Realize these are trading transactions turnover values. Total, possibly real/notional, values are about $54 trillion globally, a

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-83201609574249369652009-04-07T17:50:00.000-07:002009-04-18T06:37:33.099-07:00

New, Important; Must read A Tale of Two Depressions, by Barry Eichengreen, Kevin O'Rourke{New, Important} Can Future Systemic Financial Risks Be Quantified? Ergodic VS Nonergodic Stochastic Processes, by Paul DavidsonThe Pragmatic Maxim___“Consider what effects, that might conceivably have practical bearings, we conceive the object of our conception to have. Then, our conception of these effects

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-82535413725471723522009-04-04T10:40:00.001-07:002009-04-04T10:52:28.550-07:00

Fetters of the mind blind us so that we cannot see a solution to this crisisFabius Maximus | Apr 1, 2009 We know so little. This is one of the major themes of this site, hence the frequent rebukes to those speaking with great confidence about things far beyond our ken — based on the available data and tested theories. In the realm of public policy that is nowhere more salient than economics.

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-74504130304915623792009-03-19T12:33:00.000-07:002009-03-24T09:04:07.895-07:00

“Consider what effects that might conceivably have practical bearings you conceive the objects of your (best possible liberty)conception to have. Then, your conception of those effects is the whole of your conception of the (best and highest possible)object(a priori arithmetic liberty).” The pragmatic maxim, C.S. Peirce plus my bolded additions...The Isomorphic Gates of Perception“His maxim will

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-42852269344349112222009-03-04T13:27:00.000-08:002009-03-04T13:30:13.960-08:00

“Logic is rooted in the social principle.” Charles Sanders Peirce“No man can communicate the smallest item of information to his brother-man unless they have … common familiar knowledge; where the word `familiar’ refers less to how well the object is known than the manner of knowing … Of course, two endless series of knowings are involved.” C.S. Peirce

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-46168574390480825652009-01-16T09:58:00.000-08:002009-03-04T07:11:20.951-08:00

Fabius Maximus | Jan 8, 2009 NEW, March 4, RISK AND UNCERTAINTY IN ECONOMICS, By Paul Davidson, Editor, Journal of Post Keynesian EconomicsNew, Feb. 24, High Noon: Geithner v. The American Oligarchs New, Feb. 15 IMF official says the world’s advanced nations are already in a depression, by Fabius MaximusNew, Jan. 30 The Economic Mind of Charles Sanders Peirce, by James R. WibleNew, Jan. 30 A

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-86112309412866284082008-12-22T09:32:00.000-08:002008-12-22T09:40:12.482-08:00

National Security AlertBy Robert SkidelskyGlobal leaders are once again reminding themselves of the insights of the Cambridge academic who helped relaunch the world economy after the Second World War. He deserves to ride again, writes his biographer Robert Skidelsky Keynes, as portrayed by Low in the New Statesman of 28 October 1933; reproduced with permission of Solo SyndicationJohn Maynard

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-38493095077143330932008-11-29T13:26:00.000-08:002008-12-12T11:03:42.324-08:00

New Dec. 04, National Security Alert#3___The Republic Destroying Democracy, Fix…New Dec. 12, Top Broker Accused of $50 Billion FraudNew Dec. 11, The World Credit Crisis: A Simple Introduction Part INew Dec. 09, Do Blame The Quants, by Pablo Triana PortelaNew Dec. 08, Macroeconomic Policy and the Current Depression--PosnerNew Dec. 05, What Would Keynes Have Done?New Dec. 01, What to Do, by Paul

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com1tag:blogger.com,1999:blog-5827775.post-67392201812734027202008-11-10T14:03:00.000-08:002008-11-26T12:37:05.079-08:00

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 DeepensNew Nov 25, Global Financial System – Calling for the Plumber!New Nov 24, What Barack Obama Needs to Know About Tim

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-6300435172189440282008-10-27T11:25:00.000-07:002008-11-06T10:54:45.574-08:00

New Nov. 6, Credit Swap Disclosure Obscures True Financial Risk(beware-the $596 trillion is actually total BIS global transactions turnover figure)New Nov. 6, The Economic Mess and Financial Disaster that Obama Will Inherit, by Nouriel RoubiniNew Nov. 3, The Bank Bailouts Are Very Well Intended, But Where Is All The Money Going To Come From?, by Edward HughNEW Nov. 2, Two, two-trillionaires, by

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-43263932068785169282008-10-03T10:17:00.000-07:002008-10-27T11:08:28.453-07:00

Evaluating Toxic Assets – And Where Do We Go Next, by Paul DavidsonNEW Oct. 27,, Media's Missing Intelligent Economists...NEW Oct. 13, The Entire Global Market Law System Is Broken___Throwing Good Money After Bad Law Makes No Sense…!NEW Oct. 12, Is The World Mature Enough To Handle “Free Money Print” Governments…?, by L.A.GillespieNEW Oct. 11, A Crash Course In Economics, by Chris MartensonNEW

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-46515012322094605462008-09-30T14:12:00.000-07:002008-10-03T10:08:13.576-07:00

Although this article was published on my birthday, I'm only now publishing, because I've been so busy. I was 63 years old, and graduated in 1963. So, I like Sept. 25, 2008___that's neat. Anyway, Galbraith's ideas are here put forth, along with this article, by Dr. Paul Davidson, in the accompanying pdf___sensible ideas for addressing our financial mess. These fundamentals must be addressed first

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-71612332557262696142008-09-22T10:08:00.000-07:002008-09-29T09:00:01.343-07:00

NEWIs Purchasing $700 billion of Toxic Assets the Best Way to Recapitalize the Financial System? No! It is Rather a Disgrace and Rip-Off Benefitting only the Shareholders and Unsecured Creditors of Banks by Nouriel RoubiniSept. 28, Emergency Economic Stabilization Act of 2008NEW Sept. 29, The US and global financial crisis is becoming much more severe in spite of the Treasury rescue plan. The

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-39614783137507150292008-09-16T17:19:00.000-07:002008-09-16T17:29:45.305-07:00

I posted this snippet on _____ last night. I hope I can stir some interest by the candidates, as I mailed it to them as well.(this is a repost of an older message, yet very timely, again) The International Financial Architecture I'd like to discuss a serious issue - The IFA. I believe we could accomplish more by bringing this subject into the platform debate more than any other subject, as this

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-19479824826260621572008-09-04T14:34:00.000-07:002008-09-04T14:36:13.859-07:00

JANE D'ARISTA President Richard Nixon's decision to end the Bretton Woods agreement in 1971 was a milestone in the erosion of the Western social contract. This decision ushered in a new international monetary system--one in which international payments in dollars would be made by private banks rather than exchanges of gold between the Federal Reserve and other central banks, and the value of the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-63409529228249564132008-08-22T19:29:00.000-07:002009-07-10T15:40:10.003-07:00

Key___The Decay Death of A Universe…"The highest truth probability, of the highest truth possibility, is the only truth possibility."QUANTUM DARWINISM AND ENVARIANCE by Wojciech H. ZurekWhat if I were to tell you, it’s all about the force of infinity on finity, yet only affecting the photon spectrum…? Would you believe me? No. Of course you wouldn’t, unless you happen to be one of the few, who

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-41740666279128500322008-08-19T13:49:00.000-07:002008-08-22T14:50:21.946-07:00

"Photons___The Absolute Tensor Cycloids..."“First law must exist, before any law can exist. Just a simple absolute principle, even of first random motions, toward later uniformity.” :-)"It's a, fundamentally, polyadic universe, not a monadic 'one'..." :-) "The choice is, everything evolving from absolute nothing, or everything evolving from an absolute something. I choose the absolute something..

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-18641446778020771762008-08-05T16:55:00.000-07:002008-08-05T18:20:16.783-07:00

A scientist's view of another scientist's idea...Herb Hoche, a polymath, auto didactic scientific genius, owner of "Four Wins Farm", and friend of mine for years, has discovered a thorough-going ecologically friendly, and economically sustainable, natural farming system, complementing and capable of restoring nature's natural, balanced harmony. By us exchanging metaphores of our minds' natural

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-69581353839840914592008-07-11T13:01:00.000-07:002008-07-18T15:05:27.773-07:00

“Perpetual Economic Suzerainty”___The Free-Trade Limit…“Perpetual Economic Suzerainty”___The Nation to Nation Transactions’ Flows, Until A New Nation Is Crowned___King!The Self-Arbitrage of Capitalism Into Communism…?“It‘s all a matter of currency exchange rate laws, and true ppp’s.” meWe need to raise the stage of understanding to higher levels of perception. At present, the highest levels of

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-22226342734042920602008-07-06T08:21:00.000-07:002008-07-06T09:01:15.208-07:00

Gustav Cassel - PPP's - China?___An older article, updated and re-published, yet still very pertinent... Over the past week I have posted several articles about the international financial architecture, the IMF, WTO, sweatshops, FTAA, etc. I felt I should expand my ideas to bring more clarity to these posts. I thought I'd use the case of China - U.S. trade and purchasing power parities. Below is

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com2tag:blogger.com,1999:blog-5827775.post-42023490280868688562008-06-23T11:45:00.000-07:002008-07-06T08:07:15.267-07:00

To Fareed Zakaria at CNN___The World’s Last One-Hundred Years, Most Important EventHi Fareed, thanks for the program, it’s great___Keep up the fine work… As to your question; “What’s the world’s last one-hundred years, most important event?” That, transactions’ mathematically factually, would definitely be Nixon’s `71 and `73 decisions to end the gold std. and the Bretton Woods system, and

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-57275198368096279592008-06-12T14:10:00.000-07:002008-06-21T05:58:46.930-07:00

Att: Hon. President Elect, Barack Obama___NATIONAL SECURITYIff: In case the oil and derivatives mess, the world is presently in, turns into a full blown national and global emergency, here’s an emergency sketch-plan for the necessary moves to be taken, and WHY…U.S. Balance of Payments With China Link:Important article: The End of The BeginningPaul Krugmanhttp://

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-85209775086444650732008-06-06T08:43:00.000-07:002008-06-06T08:47:07.010-07:00

Here's an extremely important article for understanding our present world situation, as communism relates to capitalism___The survival of which system...?Survival of Humanity

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-18050907578317066022008-05-21T09:33:00.000-07:002008-05-21T10:20:07.500-07:00

I really enjoy it when I find honest conservatives, linking sincere market analysis to Obama's ideas, of a better way forward. There's still a little hope for us that more will discover the merits of Hyman Minsky's Heinz 57 capitalism's truly fundamental, and profound, yet simple, analyses...Other great links to Minsky ideas, and others promoting them: PimcoPimco ArchivesJPRI, Marshall

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-46431849725263837332008-05-14T10:53:00.000-07:002008-05-14T11:25:55.164-07:00

I am re-posting this tale from Pimco's Bill Gross, to show you how correct the bears, have been all along. The article's forcast was and is right on. Check it out, and be sure to read the post of Auerback and Dialynas, I posted yesterday. They're on the money. It's going to be a very interesting world, when the "Bears" will be, or are, required to re-educate the "Bulls."Bill GrossThe Strange Tale

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-61025662936669075312008-05-13T19:36:00.000-07:002008-05-13T21:56:33.948-07:00

And the "shadow banking system" squeaks and groans a bit more...As an extra related series, check out Sybil Star's links.Here's an older article of Marshall Auerback's everyone should read; Link It is certainly still pertinent.This article by Karol Gellert should also be read by everyone. It may be old, but very pertinent.And finally for the real truth: Auerback, Gross and Dialynas Libor Set for

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-19080554508764181422008-05-08T12:37:00.000-07:002008-05-08T13:03:55.589-07:00

We caught wind of a recent analysis from Professor Nouriel Roubini of the Stern School of Business at New York University. Nouriel has become known for his rather clear clarion calls that the housing bubble would lead to a credit crisis and possibly much worse. He has been one who has been on CNBC and was in the clear minority early last year, but now no one is laughing.John Mauldin's Outside the

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0tag:blogger.com,1999:blog-5827775.post-32202837468423198232008-05-04T09:56:00.000-07:002008-05-04T10:05:06.999-07:00

PAUL B. FARRELLDerivatives the new 'ticking bomb'Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happenARROYO GRANDE, Calif. (MarketWatch) -- "Charlie and I believe Berkshire should be a fortress of financial strength" wrote Warren Buffett. That was five years before the subprime-credit meltdown. "We try to be alert to any sort of mega-catastrophe risk, and that posture may

Lloyd Gillespiehttp://www.blogger.com/profile/05900009452723717618noreply@blogger.com0