Talk about the global and national economy to your heart’s content, as much as it takes to get it out of your system so the rest of the site can stick to real estate and housing.
For previous economic open threads, click here.
As of 09/07/2010, global economic comments that do not directly relate to Seattle-area real estate go only in threads designated for this specific subject.
Debt jubilee, suggests Steve Keen.
http://www.youtube.com/watch?NR=1&v=SkesgECRXtM
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The Woman Who Knew Too Much
http://www.vanityfair.com/politics/features/2011/11/elizabeth-warren-201111
great article about elizabeth warren.
this BI article shows the perils of the new gold standard. we can see why the world went off the gold standard. it’s too restrictive. internal devaluation is too painful.
The Entire Sovereign Debt Crisis Can Be Understood By Looking At Sweden Vs. Finland
http://www.businessinsider.com/sweden-vs-finland-2011-11#ixzz1exHwjy7j
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RE: pfft @ 2 – Wish I knew what EW expected to do in the Senate. I agree w/ Yves Smith, I think EW is blowing an opportunity to do something significant.
EW’s book is certainly worth reading. Written in 1998, she talks about high housing costs!!!
http://www.amazon.com/Two-Income-Trap-Middle-Class-Parents-Going/dp/0465090907/
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By ChrisM @ 103:
the Senate is a high-profile job though. she’ll have a platform everyday plus she can still be involved in watching over Wall Street.
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RE: pfft @ 100 – Pfft – The infrastructure looks ok but not great. It will not revolutionize the economy. But at least the dilapidated infratructure will not kill the economy. But this tactic is kind of like damage control. I was thinking of something more ambitious.
Otherwise what will happen is that the rest of the world will start catching up and it will get harder and harder to compete in the global marketplace.
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By Trigger @ 105:
actually no. studies show that lack of infrastructure could cost our economy tens if not hundreds of billions of dollars.
ok after a quick google whirlwind it may cost trillions.
Report: Crumbling transportation infrastructure could cost U.S. $3.1 trillion
http://www.metro-magazine.com/News/Story/2011/07/Report-Crumbling-transportation-infrastructure-could-cost-U-S-3-1-trillion.aspx
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RE: pfft @ 106 –
Yours is correct
actually no. studies show that lack of infrastructure could cost our economy tens if not hundreds of billions of dollars.
That’s also correct:
at least the dilapidated infratructure will not kill the economy.
What I was hoping for is that there are ways you can revolutionize the economy. Those are all good things we are doing now. But they are not like the time when a computer was invented.
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By Trigger @ 107:
yes. studies show that if you don’t fight the liquidity trap as much as possible you reduce the long-run growth rate, and thus people’s lives, for a very long time.
who cares about computers if you don’t have a job?
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RE: pfft @ 108 – We are not in disagreement here. Look at even how Dow reacted after Europe decided to do some printing. This is good. It makes sense to invest in infrastructure however if there are better opportunities that will revolutionize the economy then this is even better.
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By Trigger @ 109:
europe didn’t print. it just did some swaps. if europe printed the dow would have gone up way more.
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RE: ChrisM @ 103 – She’s got a long slog ahead of her unless she can do something really clever before she burns out in 10 years. She will be assimilated. Or marginalized like Bernie.
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