House of Paine

fed up with blither :toward a full employment dollar part 1

 raise the yuan raise the yuan


well uncle can't make that happen

but he can lower the dollar





 i just sent this 
as a personal E mail 
    to
blogger b*** "the gracious " 

we'll see if he replies :



why can't i shake the impression 
no one wants to look this square in the eye

the yuan doesn't need raising
the dollar needs lowering

in fact there's a systematic tilt
 in the whole damn global exchange rate  set up

built to jet stream  fdi from the first world to the ex third world 

this deeper warpage
    its not among first world currencies
despite their jockeying 

its between  all first world currencies
on the one hand
 and all third world currencies
on the other


what ever the history of how we got here

right now

its  plain truth 
 the yen the euro the pound  etc etc
                  as well as the dollar

may waltz around each other

but theres a lower realm

a currency dungeon
out there 

where all the thirds  live 


okay so some fly up from hell 

the won the yen etc 
next in line the yuan 

but the two very seperate  currency domains
will still  remain   

and the mechanics of 
      relative  comp advantage  
can't operate 
without  system wide
automatic  monetary levelers 

now from jump street

forgetting scale and ip effects 

modern  credit  systems
alone 
make  the simplistics of this impossible

but  reality
however more complex
can be improved

by a long run win win

by a concerted  
first world CB  effort
    to lower 
ALL their  first world currencies
  to the  level of  the third  emergers



in my estimation this is the only possible way
 to rectify
our 30 year 
bloody and  hideous 
first world wage squeeze
without the  global disaster of protectionism 

to wait on a system that
takes
 one currency at a time and promotes
 it  over say 15 years
   to first tier  exchange rate status

(locus classicus the yen )

                          seems well beyond humane endurance 

we need a systemic shift
or there will be nasty waves of protectionism
in the first world 

what say  u swami b***