« Global Investors Losing Faith in Faith-Based Paper Currencies | Main | Power Tends to Corrupt »

December 11, 2005



Dave, That is one GREAT Keynes quote: "Markets can remain irrational longer than you can remain solvent." Personally, this time I don't care. We sold our house last Jan at market high + 20% because we couldn't afford to lose the windfall "given" to us by low int. rates & absurdly eased lending policy. I can do nothing about either of these influences, but I'm fed up enough with witnessing what this Administration & the Federal Reserve have done in the last 5 years. Personally, I will remain a hunkered down penny-pinching renter - counting the 5+% earnings from my Ford Interest Advantage Account - until someone returns us to saner fiscal & monetary policies. It may take the rest of my life, but so be it. It's one thing to play Russion Roulette, but it's quite another to play when you know at least half the bullets are spent. Have a GREAT Holiday & thanks for your posts.

Elaine Meinel Supkis

Hi, didn't know about your blog until mine flagged down your link and I just want to say, welcome! Glad to read you and will bookmark you.

About the "what we do not know"---when I first began to debate economic stuff on the web 18 years ago, I really didn't know all that much. The rancorous and sometimes hilarious debates brought a great deal of information to my brain which then processed it.

For example, 20 years ago, I didn't know squat about derivatives or relative value of currency manipulations to increase exports and a host of financial matters. Since banging around the web, just reading other people's links and postings and quite a few lights turned on in the head.

This is better than going to school! Thanks for being yet another light.

Elaine Meinel Supkis

About the future: All empires implode financially because they can. All other countries must be very careful and are cut off from the money stream very swiftly if they wobble too much.

But empires can soak everyone and because they can, they do! And it is awful when they do, usually it ends in vast wars as the dying empire lashes out.


Thanks for the promise of a bookmark Elaine..

Among the many books I keep close at hand are Kevin Phillips "Wealth and Democracy" and "Boiling Point." When I read your stuff about "empire" and "empires" and such I hark back to Phillips' books and Phillips' warnings about "financialization" and other trappings that signal the end of empires. Of course there are many other authors of note who deal with the topic as well.

Here is Kevin Phillips, from "Boiling Point" : "Excessive preoccupation with finance and toleration of debt are apparently typical of great economic powers in their late stages."

When you mention that you didn't know that much about economics when you first became engaged in economic debates it reminded me of Hazel Henderson's story, http://www.hazelhenderson.com/

Those who are self-taught tend to be better-taught and less inclined to fall into the disciples' trap of lapping up nonsense thinking it profound.


"We don't know what the future holds." You could as well say: "we cannot know..." for some reason, God decrees that we cannot know the future. This is sort of humorous, because we all try to predict the future, all the time. Oh well.

The comments to this entry are closed.

Want Email Updates?

Your email address:

Powered by FeedBlitz

* Google * Site-Search


  • Chronicles of international finance and geopolitics, with hints from thither and yon to help us find a way from "growth and development" to "sustainability."

    This is a personal web site, reflecting only the opinions of its author and those who offer up comments. It was built and is maintained in occasional spare moments.

    More about me, my other blogs, etc.

Blog powered by Typepad