Wednesday, 25 February 2015
Tuesday, 24 February 2015
Monday, 23 February 2015
Sunday, 22 February 2015
Friday, 20 February 2015
https://www.opendemocracy.net/ourkingdom/steve-keen/keen-krugman-debate
Krugman thus supports what monetary reformers like Prof Steve Keen identify as the orthodox ‘Loanable Funds Theory’ – often (wrongly) defined as “Keynesian”. Professor Mankiw of Harvard, a prominent neoliberal economist, defines ‘Loanable Funds Theory’ this way: “Saving is the supply of loans – individuals lend their saving to investors or they deposit their saving in a bank that makes the loans for them. Investment is the demand for loans – investors borrow from the public directly by selling bonds or indirectly by borrowing from banks.” (Mankiw, Macroeconomics, p.65).
According to this theory money for loans is provided by savers, and the ‘price’ (or rate of interest) for loans is determined by changes in demand and supply of ‘loanable funds’. Credit does not appear to enter into the theory. Mankiw and Krugman do not appear to accept that banks create credit--“out of thin air”--on the guarantee of collateral, a contract to repay over a fixed time period, and at a certain rate of interest. Instead, according to this view, they are simple intermediaries between savers and borrowers; between those who are ‘patient’ savers and ‘impatient’ borrowers.
Krugman thus supports what monetary reformers like Prof Steve Keen identify as the orthodox ‘Loanable Funds Theory’ – often (wrongly) defined as “Keynesian”. Professor Mankiw of Harvard, a prominent neoliberal economist, defines ‘Loanable Funds Theory’ this way: “Saving is the supply of loans – individuals lend their saving to investors or they deposit their saving in a bank that makes the loans for them. Investment is the demand for loans – investors borrow from the public directly by selling bonds or indirectly by borrowing from banks.” (Mankiw, Macroeconomics, p.65).
According to this theory money for loans is provided by savers, and the ‘price’ (or rate of interest) for loans is determined by changes in demand and supply of ‘loanable funds’. Credit does not appear to enter into the theory. Mankiw and Krugman do not appear to accept that banks create credit--“out of thin air”--on the guarantee of collateral, a contract to repay over a fixed time period, and at a certain rate of interest. Instead, according to this view, they are simple intermediaries between savers and borrowers; between those who are ‘patient’ savers and ‘impatient’ borrowers.
The part of the Irish administration charged with advising the government on the carve up and sale of our state’s (people’s) assets is called ‘New Era’.
This utterly opaque entity is enormously difficult to get real
information on. The current distraught and legitimate anger of the Irish
community over the stealing of their resources in return for loans to
bail out rogue bankers belongs at their door. Creeping privatization of energy resources, community and social services, health care and most importantly our sacred waters by an incestuous elite of corporate, bankster and political cronies sees little improvement in the oligarchical landscape of Ireland since the early 1800s. Different psychopaths – same old MO.
Read more at http://www.maxkeiser.com/2015/02/protester-arrests-and-jailing-continue-apace-in-bankerland/#WZUyt0mgwYh0W3tB.99
Read more at http://www.maxkeiser.com/2015/02/protester-arrests-and-jailing-continue-apace-in-bankerland/#WZUyt0mgwYh0W3tB.99
Thursday, 19 February 2015
Wednesday, 18 February 2015
Tuesday, 17 February 2015
Friday, 13 February 2015
http://kingworldnews.com/man-predicted-collapse-euro-swiss-franc-time-running-global-financial-system/
" the Greek Finance Minister, Varafoukis, knows how to play this game because he is an expert at game theory. He has now opened up a dialogue with China and Russia. This is unacceptable to the EU and the United States. Neither the EU nor the U.S. would welcome a Russian naval base in Greece.
" the Greek Finance Minister, Varafoukis, knows how to play this game because he is an expert at game theory. He has now opened up a dialogue with China and Russia. This is unacceptable to the EU and the United States. Neither the EU nor the U.S. would welcome a Russian naval base in Greece.
Major Repercussions For Europe And The World
Regardless
of the outcome in Greece, there will be major repercussions for Europe
and the world. The world is already very close to an avalanche of money
printing and defaults. Also, other countries in the EU are waiting to
follow Greece.
In
Spain, an even more radical opposition party than the one in Greece is
now well ahead in the opinion polls and is likely to win the November
election. Their platform is a canceling of debts with the EU, public
control over energy and banks and withdrawal from NATO. And in Italy,
all three opposition parties are anti-euro. They are calling for a
return to the lira. This anti-euro sentiment is already spreading to
France."
thanks to Wile for link
Thursday, 12 February 2015
Wednesday, 11 February 2015
Tuesday, 10 February 2015
Sunday, 8 February 2015
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