When "Nobel prizewinner" Joe Stiglitz came to my town to give a talk on economic inequality, I felt like I had to go, even tho it meant misspending $5. Sure enough, he didn't disappoint, as the words "Federal Reserve" never passed his lips. During the Q&A, I frantically waved my hand to point out this omission, but didn't get called on. Though there is no official Nobel in Econ, the associated prize went to such as Hayek and Friedman in its early years, recent winners include Stiglitz, Krugman and Bernanke. It's become a very low bar.....
It would appear that Mr. Stiglitz wishes to control everything and everyone but the elite group that actually cause the problems. Obviously, Mr. Stiglitz has no mirrors to see who causes the problems.
You wrote"Who’s going to write these new laws? Who’s going to enforce these new rules and regulations? What Solomons will govern this brave new world? What angels will police it?" I totally agree. If we had Solomon or angles as our bureaucratic masters life would be great. But in fact these gubmit workers are stupid, lazy, and self serving. I am dumbfounded that liberals are unable to see the obvious.
Stiglitz points out the unfairness. But who caused the unfairness? Who caused the $130T in debt, including promises ? Who found Fed chiefs that printed money at each economic stall? What are the ramifications of that? Who is paying the lower classes to insure they don't work or vote along lines desired? Who demanded society take vaccines that kill and promoted experimental vaccines? Who is claiming we must spend trillions on climate change for technologies that aren't producing what was promised? Who controls the academic grants? Where are the supposed advocates of balanced budgets? Are they Republicans or are they nonexistent?
Printing money is the easiest "solution" for nonthinking leadership when a quick "solution" is a must. Seems pretty obvious every solution like AIG, Fannie and Freddie, GM, too big to fail banks and recently Silicon Valley and others all seem to imply that the government doesn't want any big money to fail. Just saying, since all the big money is always bailed out, by the people. So they can take the loss through inflation.
There is no getting past two universal constants: Human nature and the law of supply and demand. My algebra teacher was forever saying: "Gentlemen, your equations MUST balance. Whatever you do to one side, you must also do to the other." Human nature? Self-interest to the point of trying to "game" the system, which produces (you guessed it) UNBALANCED EQUATIONS. Best always. PM
I have read your notes for years, I have subscribed to your service and I follow some of the great advice of Mr. Dyson and your other analysts. But my question is what do we do? Do we start thinking of another country in which to live? That for many reasons is not a viable solution for us. While we do just fine we are older and on occasion need medical advice and help, we have families that are established here and we do not have the ability to live in multiple places. So what do we do, as individuals we have lost all ability to make changes to our elected officials and have no ability to get relief from the courts, we lack standing as citizens to demand change, so what are some suggestions as to things we could do. I have a basic understanding of your explanations of the failure of the economy, but wold like something concrete we could do in these turbulent times.
Thank you and look forward to your future postings.
Cheez, it's not that bad here yet. I mean, it is, but it's much worse in most other parts of the world. Where it isn't much worse, it's much more expensive. You can make wherever you are a nice place to live, well, except the big cities. If you must move to another country, try Wyoming or Alaska. Bring a jacket.
Bill what your observations can be summed up as entropy. Over time things progress towards chaos, and gradual decline into disorder. For those that are observant we can see it first hand!
You commented on Mr. Stiglitz: "But wait, you'd think a Nobel prize winner would dig a little deeper."
I had a similar thought about your comment in a recent essay to the effect that 'reading between the lines of the New York Times' you didn't think the indictment charges against Mr. Trump 'amounted to much.'
I suggested that given your influence the opinion you shared might be better informed if you had read the indictment itself. I think you would agree, actually.
But interestingly, my suggestion never made it to the comment queue. But it did appear for a few seconds.
Randall: I agree with your comment that "BB didn't read all the indictment charges against Trump. Maybe he needs new glasses. Very disappointing coming from him.
Have been a subscriber almost since the beginning and have always received the daily and weekly emails in my gmail account. For the last 3 days I have had to go in to the Substack account to get them. They are not not in any of my gmail accounts including the spam account.
Please let me know what I need to do to get back to normal. Thanks so much.
YES! We need to get back to our founding principles. Not clear how in the current "climate" (not related to the climate change insanity). If enough of the voting population will vote for a brain-dead person as president and an idiot as next in line that they can carry a crooked election, where are we going from here. Many are already lined up to repeat, with no assessment of where we are now or how we got here.
Besides Musk vs. ZTurd, we should arrange for Stiglitz and Paul Krugman to be locked in a room together to bloviate away. Whichever one survives by driving the other to commit suicide should receive a Nobel.
When "Nobel prizewinner" Joe Stiglitz came to my town to give a talk on economic inequality, I felt like I had to go, even tho it meant misspending $5. Sure enough, he didn't disappoint, as the words "Federal Reserve" never passed his lips. During the Q&A, I frantically waved my hand to point out this omission, but didn't get called on. Though there is no official Nobel in Econ, the associated prize went to such as Hayek and Friedman in its early years, recent winners include Stiglitz, Krugman and Bernanke. It's become a very low bar.....
It would appear that Mr. Stiglitz wishes to control everything and everyone but the elite group that actually cause the problems. Obviously, Mr. Stiglitz has no mirrors to see who causes the problems.
You wrote"Who’s going to write these new laws? Who’s going to enforce these new rules and regulations? What Solomons will govern this brave new world? What angels will police it?" I totally agree. If we had Solomon or angles as our bureaucratic masters life would be great. But in fact these gubmit workers are stupid, lazy, and self serving. I am dumbfounded that liberals are unable to see the obvious.
Stiglitz points out the unfairness. But who caused the unfairness? Who caused the $130T in debt, including promises ? Who found Fed chiefs that printed money at each economic stall? What are the ramifications of that? Who is paying the lower classes to insure they don't work or vote along lines desired? Who demanded society take vaccines that kill and promoted experimental vaccines? Who is claiming we must spend trillions on climate change for technologies that aren't producing what was promised? Who controls the academic grants? Where are the supposed advocates of balanced budgets? Are they Republicans or are they nonexistent?
Printing money is the easiest "solution" for nonthinking leadership when a quick "solution" is a must. Seems pretty obvious every solution like AIG, Fannie and Freddie, GM, too big to fail banks and recently Silicon Valley and others all seem to imply that the government doesn't want any big money to fail. Just saying, since all the big money is always bailed out, by the people. So they can take the loss through inflation.
There is no getting past two universal constants: Human nature and the law of supply and demand. My algebra teacher was forever saying: "Gentlemen, your equations MUST balance. Whatever you do to one side, you must also do to the other." Human nature? Self-interest to the point of trying to "game" the system, which produces (you guessed it) UNBALANCED EQUATIONS. Best always. PM
So...I'm guessing that Stiglitz is a democrat/neo-republican?
I have read your notes for years, I have subscribed to your service and I follow some of the great advice of Mr. Dyson and your other analysts. But my question is what do we do? Do we start thinking of another country in which to live? That for many reasons is not a viable solution for us. While we do just fine we are older and on occasion need medical advice and help, we have families that are established here and we do not have the ability to live in multiple places. So what do we do, as individuals we have lost all ability to make changes to our elected officials and have no ability to get relief from the courts, we lack standing as citizens to demand change, so what are some suggestions as to things we could do. I have a basic understanding of your explanations of the failure of the economy, but wold like something concrete we could do in these turbulent times.
Thank you and look forward to your future postings.
Cheez, it's not that bad here yet. I mean, it is, but it's much worse in most other parts of the world. Where it isn't much worse, it's much more expensive. You can make wherever you are a nice place to live, well, except the big cities. If you must move to another country, try Wyoming or Alaska. Bring a jacket.
Running for president on an anti-corruption platform cost a candidate his life in Equador.
Bill what your observations can be summed up as entropy. Over time things progress towards chaos, and gradual decline into disorder. For those that are observant we can see it first hand!
You commented on Mr. Stiglitz: "But wait, you'd think a Nobel prize winner would dig a little deeper."
I had a similar thought about your comment in a recent essay to the effect that 'reading between the lines of the New York Times' you didn't think the indictment charges against Mr. Trump 'amounted to much.'
I suggested that given your influence the opinion you shared might be better informed if you had read the indictment itself. I think you would agree, actually.
But interestingly, my suggestion never made it to the comment queue. But it did appear for a few seconds.
Are mild criticisms taboo in this medium?
Randall: I agree with your comment that "BB didn't read all the indictment charges against Trump. Maybe he needs new glasses. Very disappointing coming from him.
No, you can say pretty much anything you want, no matter how ridiculous. BPR doesn't believe in censorship.
Have been a subscriber almost since the beginning and have always received the daily and weekly emails in my gmail account. For the last 3 days I have had to go in to the Substack account to get them. They are not not in any of my gmail accounts including the spam account.
Please let me know what I need to do to get back to normal. Thanks so much.
Richard Bloomfeldt
trailrider3@gmail.com
Everything that goes up must come down, we're past the point of a soft landing in America.
YES! We need to get back to our founding principles. Not clear how in the current "climate" (not related to the climate change insanity). If enough of the voting population will vote for a brain-dead person as president and an idiot as next in line that they can carry a crooked election, where are we going from here. Many are already lined up to repeat, with no assessment of where we are now or how we got here.
Besides Musk vs. ZTurd, we should arrange for Stiglitz and Paul Krugman to be locked in a room together to bloviate away. Whichever one survives by driving the other to commit suicide should receive a Nobel.
Poor Mr. Stiglitz may just be trying to draw attention to that which he is in desperate need.. medication and adult supervision.
Does Melei have a chance of winning in October? Will he peg the peso to the dollar if he does?