one doesn't
need to dehumanize

u consevers

one only needs to realize

by dint of a steady diet

of

dead ideas and other rotten fruit

u've all managed

to re-ape yourselves

Posted by js paine at 11:11 PM

“I wish we could keep to
a more sedate and amicable language….”

why hari ???

let the blood flow
its good for the site's meme crop

all ideas are vamp's

Posted by js paine at 11:08 PM

suddenly paul k is a path braking prophet …
an isiah for the bush II years

commenters thump their chests for being brave enough

to champion his columns

get in year when

commenting:

i read jim casey
and wonder….

what reagan's milk fed campus
econ con cows

he must herd with

jeepers mr kent …

krug is about as terrible a swift sword as ….jimmy olsen

———
but i in turn

add my faint praise

lending it a brass hat

anne

i like your

“paul is us ” take

yes he has very little more then “us”
to work with

data wise

and he uses analytic tools
we average hu-caps

oughta be able to find

lying around somewhere

in our own heads

and yet using only this ready to assemble shit
he can punch holes

in the official white house guff-alo-ing

and strike
—on a good day —-

right thru

to the the dead center

of the big lies

krug may be a bit of a faux terrier

chancing a bark

on limited premeditation

and on too many occasions

but “a hack”

not a bit

god bless his jab

even if his knock out punch

is a sorry sight

as to stig's quote
that krug sometimes goes

“over the top”

words of caution

context said
vs

context reproduced

though indeed stig
the bah bah est of all bah bahs

among ivy economic's black sheep

might find even our beloved

paul k olsen phd

ferocious

——————

now stig vs krug
bupa

nice stuff on stig

may i add
his contributions to the dismal science

—-such as it is —-

are without equal in his generation

just using his twenty best papers

i submit

you can

travel from 1970 to today

and have a fair sense

of the whole advance in micro

a giant for all time

…
“he lacks the eloquence, urgency, and passion of the preacher”

yes indeed

” while he has too often abandoned the rigor of the scientist”

absolutely false

…
“loosely argued ” ???

no
just bare

its examples quite oddly secondary

not remotely equal in light giving clarity

to
the precise coherent simplicity

and sweepingly unheaving

range of application

contained in his algebra

consult any micro theorist
mention stig

and u'll provoke

one of the various

colors

of envy and/or awe

…
krug as scientist

by comparison to joe s ???

not even a maris to his mantle

…
one area where krug has flopped badly

sources of the oil price surge

he seems stuck in a fairly simple
text book model

reminds me of his 90's miss
of

the effects of trade on wages

and really at this point
to get the sources of today's

oil price spiral right

would expose a great deal more

about how the world's

trans nat econ con works

day after day after day…

then any further diatribes

on the bushco sand trap folly

or

gallant fending offs

of any stray

atilla of wall street

attacks on our social security system

…
then again

he did okay on

the latest version of

grand theft credit

Posted by js paine at 11:03 PM

hari

“US policy in Africa is self-defeating…
In comparison, EU has relentlessly tried

to re-establish a functioning civilian gov in Somalia

… The difference between US/EU perspective

is what I call the short-terminism (US)

and long terminism (EU) approach

to development economics …”

a case of either or …is it ??

i think not 

you fail to notice
or at least to fully absorb

a bare faced fact

of the way its done

in

our global limited liability

borderless profits system

to keep doors open and shut
as board room

need and advantage require

uncle sam plays bad cop

u euros play good cop

but in a world suddenly without uncle….

u euros'
very own

home grown

trans nat corporations

would find among

“the community's member states “

some lesser powers

to keep playing good cop

while strapping together

a co-all -ition

of willing big boy euro states

to take back

the far better paying

bad cop role

a role BR (BEFORE ROOSEVELT)
once less ably played

by various euro powers

Posted by js paine at 08:12 PM

urban poors riot
short of open insurection

rural poors usually just

quietly starve

if we want the south hemi poor
to eat better

then we oughta set up

a north hemi funded

UN poor folks food stamp program

and let local supply fill the demand

that oughta be a double win win

for third rate systems

btw

corruption tyranny and inefficiency

are alibi moves

food aid long term can work and work well

food stamps work very well
without much administration

or distribution cost

counterfeits
so what

resale

great let it happen

if the local gub wants to gouge
out the added perchasing power

by fiddling prices so be it

let the native people on the ground deal with it

stamps work here in the US
with our natives … eh??

…
“.. longer term solution is direct aid

to develop agrisector

and food production and supply”

why ???

when enough effective
demand

will create its own supply

the ag policy of an modern market emerging state
might need some non directed

public grants and sovereign loans but all else

is but

the soft tyranny of empire …

——————

reason:

i agree

about likely outcomes

but i never guess at
the likely politics of a policy

till i've tried to figure out

the best policy

i'm still at stage one here
what's best

next comes

whats best among what's possible

hari

you seem to not notice
a bare faced

way its done

of our global limited liability

borderless profits system

to keep doors open and shut
as need and advantage require

uncle sam plays bad cop

the euros play good cop

but in a world suddenly without uncle….

the euros
very ownhome grown

trans nat corporations

would find among the community's member states

some lesser states

to keep playing good cop

while strapping together

a co-alition of willing big boy euro states

to take back

the better paying

bad cop role

a role BR (BEFORE ROOSEVELT)
once ably played

by various euro powers

…
rusty

we can play a sweden type role

send money thru the un

not your cup of tea

but we need to keep anne
feeling

globally helpful

Posted by js paine at 07:56 PM

franklesteins little mid 80's paper model
gives plausible commodity price dynamics

in a sticky product price world

its implications today
carry

a shit load of potential import

paul k et al
attendez vous

reason
uses unreason and fragmented thought

read the “frank” piece
and notice the role of exchange rates

” short term interest rates are domestic and commodity prices are traded internationally”

btw the link between exchange rates
is in fact in part thru the relatuve value

of various local

“real” short term interest rates

ie

relative nominal local in currency rates

plus expected relative inflation rates

and the knock on expected exchange rate moves

zinc
nice bit of swan dancing this:

“Is it difficult to accept that lack of regulatory enforcement, asymetric information in a super leveraged world, organized suppliers and disorganized buyers, and a stampede of cheap money from every central bank in the world would lead to an inefficient market”

despite the hyper-density of your expo
i think i agree …at the level of

general impression

if inefficient here means

chronically giving off

treacherously sub optimal

supply and demand “signals”

…
the problem

we need to duel this out
with explicit models 

using shared assumptions

and shared parametric ranges

otherwise

we pass by

maybe hearing each other

sort of …

but never making

punishing decisive contact

like a hand full of horse flies
buzzing about

inside the seattle super dome

Posted by js paine at 07:52 PM

within the property holding class
big may out perform little

even more

in times of higher inflation

then in times of lower inflation

but the poor and unretired
in this country today

properly defined

have nothing to lose but their jobs

and inflation

is not directly

a job killer

policy moves to squelch inflation
however

usually fight the good fight

by sending net job formation

into the negative range

which takes real wage rates

by the throat and ….

still

with indexed SSI
jobless-ness

is more the enemy of the small

then inflation

and when more or less of either
gets

policy pitted

one against the other

the mostly just a jobster's choice
oughta be obvious

…
goat guy writes:

“Ultimately, assuming that an open market stabilizes prices of things based on supply and demand, the increased demand results in higher prices, supporting the base for inflation”

even if macro policy faces
the absorption of a massive change

in relative prices

——-as in the crude oil

global price pop ——

and chooses to buffer it's real impact 

by accelerating

the rate of price level change

its not a necessary move by any means

changes in relative prices
per se

imply no necessary increase

in the rate of general price level change

” It all ends when disposable money is used up,

spending decreases, demand drops,

and prices stabilize or drop in turn.”

but why should this necessarily follow ???

“The third-order differential calculus

of the market

inevitably results in boom-bust cycles,

where chaotic factors of supply capacity,

technological progress, fad, necessity,

weather and pests

work their confounding force over the S/D field”

that's a home made instrument your playing
there in the last graph …eh ??

“Inflation is one symptom of the unraveling”
jamie g.

spec perhaps
you confuse jamie's use of ” symptom”

with your own use of cause

as in this line of yours :

“this inflationary policy
slowly destroys the capitalist system”

a minsky “built in ” cyclical hi fi crisis
is not a progressive system destroying catabolism

the system has survived
many a deep hi fi paper boat

ride over the niagra falls

and i suspect

will survive many more

Posted by js paine at 07:32 PM

caveat :

we ought never confuse
hatred and contempt of

all infidels and aliens

with true blue internal racism

which remains a freak show

a side ally indulgence

unless this

kill or be killed

nuclear option type gig

must get trundled out

by cornered big power corporate elites

gearing up for an uneven cross border scrap

with their rivals

in which case

to carry a big stick

often requires

nationalization

of their ethnic majority wage class

Posted by js paine at 07:30 PM

mark surely hits a main barrier
to any de facto

consolidation and concertation

of C- bank policy at the global level

ie

a joint set of national inflation rate targets

why ???
since “self chosen” national best rates prolly

conflict seriously with assigned

best for the whole rates

upshot
each nation

ala the great DEP

may hang separately

cause they can't hang together

the BW dollar gold link alone
hardly restrained national inflations

they were restrained
by the further attempt to maintain

fixed rates among currencies

which in turn were

anchored to a dollar fixed in gold ounces

but
more to the real nationalist point

the gold peg

kept uncle's

annual trade and payments balance

nearer zero

if we are to target an inflation rate

which inflation rate ???

the wage profit spiral driven core rate ???

Posted by js paine at 07:28 PM

“The path is clear:
re-regulation, planning, standards

(including wage controls),

and coming to grips

with the nation’s global responsibilities.”

re-tame the corporations ????

its like those ever so often
noticed

trainer killed by his meal ticket stories

today in funkville
film star

biff the kodiak bear

chewed off the arm and face

of his long time trainer

chandler Iffington

Iffington remains undaunted
even as he lies in a tubular state

in the ICU over at st mercy's hospital

sez Iff :
“after they give me

a new face and workable metal arm

i plan on returning

to wild animal domestication

hell it's the only racket i know”

to put a blunt point on this:

trans nat corporations are
kodiak bears giant cobras bengal tigers etc etc

message:

you can't engineer a flawless freedonia

out of any society

largely built and sustained

thru eternal relentless

exploitration devices

like the present day

trans nat corporation

—————-

unfortunately
a minsky type

“built right into the dna ”

cyclical hi fi crisis

is not despite its destructive power

a progressive system destroying

catabolism

seems to me
today's big corporate capitalism

with its intricate — built out of credit —-

hi fi “value pump”

has survived

N self inflicted catarctic moments

and may well survive M more of the same

to me the present hegemonic economic institution
the multi national border free corporate

can not be perminently tamed…

fruitfully domesticate …

let alone yoked long term

to any public purposes beyond its own

like houdini the limited liability
for private profit trans planet corporation

will always in god's good time

escape the regs and containments

just as it has the first new deal

the treaty of detroit

and

—-read closely now —-

the euro social market too

we as progressive liberation dreaming humanists
have to pray to clio

to help us discover

inside ourselves

the makings of a full institutional sublation

“regulation is the consumers' only hope to moderate rent demands”

true enough …on one level

but
i hope this line don't labor under

the following fatuous assumption

markets don't generate bad rents
gubmints do

in fact
bad rents-r-us

pretty much epitomizes

todays big for profit

corporate players

even if they steer completely clear

of regulators and agency capture 

Posted by js paine at 07:24 PM