tag:blogger.com,1999:blog-2249851329008146395.post1729939914522086913..comments2023-10-30T09:11:12.922-07:00Comments on Clouded Outlook: Let the dead man speakAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2249851329008146395.post-83944775256422298312009-07-07T09:21:09.293-07:002009-07-07T09:21:09.293-07:00fantasticfantasticNick Drewhttp://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-13859799640667904312009-07-07T13:30:03.294-07:002009-07-07T13:30:03.294-07:00That Shakespeare put down words in the right order...That Shakespeare put down words in the right order to cover everything. What a man! Think I'll reread The Merchant of Venice and Macbeth before making any more trades.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-15098920682852361052009-07-07T14:59:13.184-07:002009-07-07T14:59:13.184-07:00That's so apposite I'd suspect it as a hoa...That's so apposite I'd suspect it as a hoax. But looking at the beautiful use of language I think not.<br><br>Have you checked the provenance Alice?Micknoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-45804413835388513172009-07-07T15:35:49.653-07:002009-07-07T15:35:49.653-07:00Hi MickHad we met before then I would have been of...Hi Mick<br>Had we met before then I would have been offended. Checking primary sources is an obligation.<br>The memo is from<br>National Archives - Cabinet Papers 1915 - 1978<br> Finance and the Economy<br> Economic Policy in the 1920's<br> World Trade Downturn<br>Cabinet Memorandum. The Financial and Economic Position of the United Kingdom. Note by the Secretary. 14 September 1931<br>It is our first encounter, it is my obligation to inform.<br>JKAJKA on Economicshttp://jkaonline.typepad.comnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-86411374470738098792009-07-08T05:02:18.610-07:002009-07-08T05:02:18.610-07:00Unlike 99 percent of the politicians and public of...Unlike 99 percent of the politicians and public officials working in the US and UK, I actually successfully pulled an asian country out of the 97 crash. So here is my insight: sound money. People need to believe money has worth and it is worth saving (and your savings won't disappear). Targetted investment ONLY in new equipment and the latest technology. Encouraging free exchange of ideas. And a culture that says getting off your butt and doing things is the only way to get ahead. Do those things, and you can turn it around. We are not doing any of those things right now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-84374841947401238412009-07-09T02:12:05.374-07:002009-07-09T02:12:05.374-07:00I found this interesting about the alternative of ...I found this interesting about the alternative of not doing fiscal stimulus etc etc. <a href="http://www.youtube.com/watch?v=czcUmnsprQI" rel="nofollow">Why You've Never Heard of the Great Depression of 1920</a>.<br><br>Another lesson from history unlearned.<br><br>When all this started I used to comment on boards etc that Franklin Roosevelt New Deal didn't work ( having studied American History at school ). But at the time no one seemed to listen.<br><br>PS Did Britain weather the great depression much better than the US - until we had to transfer all our wealth for the next 50 years to the US to save the world from Hitler ? ( About the same amount of money Gordon Brown has just borrowed to keep himself in office. Maybe we should have a rule that money can only be borrowed to remove a dictator. Though at the risk of saying something about Hitler - unlike Brown he was at least elected ! )Man in a Shedhttp://www.blogger.com/profile/00990902055642035293noreply@blogger.comtag:blogger.com,1999:blog-2249851329008146395.post-13771712040103138642009-07-10T06:42:05.903-07:002009-07-10T06:42:05.903-07:00Keynes himself said not just that fiscal deficits ...Keynes himself said not just that fiscal deficits caused a stimulus in the economy, but that it was an automatic thing to occur when tax revenues drop in a recession. If you're budget-neutral after recovery but before boom, you get a little more revenue than spending during the boom, which stops it inflating. It's a negative-feedback system.<br><br>Politicians have believed that they can run stimulus at any time and barely reduce deficits at all. I have no problem with the level of spending that occurred from about 1999 onward, but it should have been financed by taxation. We were in the boom part of the cycle and should have been extracting some of that to pay off past debts, and even build up a reserve for future recessions. Ken Clarke had actually put together a minor surplus budget, which Labour followed for the first year.<br><br>Instead Mr Bush and Mr Brown continued to run ever increasing deficits, which inflated the bubble ever further. It now leaves us having to throw ludicrous amounts of money to have an effective stimulus, with massive debts, and much of that money being used unproductively as bank bailouts.Mike Dimmickhttp://www.blogger.com/profile/05742167175227840320noreply@blogger.com