-------- Original Message --------
| Subject: | Re: --Mkts… It Is the Volatility (Uncertainty), Stupid! |
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| Date: | Sun, 19 Dec 2010 13:21:07 -0800 |
| From: | Jas Jain |
Re: --Mkts… It Is the Volatility (Uncertainty), Stupid!
Jas: "The global financial markets would collapse if the US really tried to inflate its way out of the debt problem. The markets would force Americans to live with less compared with the artificial boost in the living standard in the recent years via consumption debt, first by the households and now via huge public debt."
Sabri: "Good point! Further, QE2 cannot be a "currency war" for the same reason. Given that the household incomes are not going up anytime soon in the US, it would be a suicide for the US to devalue the US dollar. How the heck the US households can buy the imported things with their steady, if not decreasing, incomes, if their dollars can buy less? Captains of the US economy cannot be as dumb as we believe, I should say."
"Captains of the US economy," or "Captains of Industry" as Veblen referred to them, are not only not stupid, and I don't know anyone so stupid as to believe that they are, are organized gangsters who are served by other organized gangs in politics and in economics profession. The most obvious organized political gangs in America are the two political parties supported by well-trained (born-and-bred) political slaves, i.e., partisan voters, and two economics schools of thought, Neo-Keynesians and Supply Side, each providing justification for the policies of a political party. I realize that you support policies of socialist gangsters like Krooksman, but the fact that he is serving banking and finance Crooks cannot be in doubt after the "crisis" of 2008 because he, together with his fellow gangsters like Stiglitz, supports more and more and more public debt as the solution to the problem caused by more and more debt, both household and public. Political and economics gangsters know whom they must serve to have fame and fortune. In America they must serve "Captains of Industry," who have turned into Crooks since the voodoo economics of Reagan. Reagan is dead but the voodoo of tax cuts as panacea lives on.
Jas
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