Comments on: NYC RGE Monitor Panel Discussion (Not for the Fainthearted)

By: Anonymous

Anonymous — Fri, 30 May 2008 00:09:00 +0000

Great blog,
I will surf it more often in the future. The financial meltdown ist even noticed in the EU. Deutsche Bank’s CEO Ackerman wasn’t even able to announce or at least predict 2009 expections. But the hardest times are gone… great joke. Just to give my 2 cents: Germany isn’t in a recession now, but France is and this is a great problem since Germany’s industry is very export-oriented; it will last for perhaps two, or three quarters and Germany’s economy will decline as well.The consumer’s market in Germany is also bad, because all the export-winnings, where bought by a poorification of the masses. Bush would be denounced as a socialist right here if he repayed the taxes. DON’T HOPE FOR EU, TO EXPORT! Right here, there’s deflation policy at stake.

P.S.: I’m quite bitter about that, capitalism serves and destroys itselft.

By: Tom Lindmark

Tom Lindmark — Tue, 27 May 2008 23:49:00 +0000

Nice post. A little more bearish than I am but useful information.

By: Anonymous

Anonymous — Tue, 27 May 2008 18:11:00 +0000

I don't believe we do good service in observing the current pitfall in the US financial services industry in terms of effects on its players (consumers vs. corporations) nor of the effects on its components (housing in ten years, commercial vs. investment bank rebound, when).
So I presume nobody at nakedcapitalism.com wants to talk about the cause for all of these conflagrations on real people - naked capitalism.
Or, of the cure - eliminating capitalism's ability to revive the business cycle for yet another round of bursting bubbles.
We need to begin discussing new ways of doing some of the things that have caused us to be here in the first place.
First and foremost is the right of private bankers to create the nation's money supply, and then to manipulate it's growth into unrecognizable, and unquantifiable, financial instruments, all aimed at perpetuating this financial crime against the American people.
"Only the Congress shall have right to coin money, to regulate the value therof and of foreign coins."

How 'bout some free enterprise?
How 'bout the masses as property owners, rather than renters?
If the econblog sites want to start talking about how to prevent the next dereg-expand-contract(confiscate)-reg capitalist business cycle, we need to talk about basic monetary reforms, and let the bankers start lending their own money, rather than plunging the taxpayers into debt.
Milton Friedman's one sentence proposal would do wonders for that prevention:

"Sound monetary reform requires the issuance of all money (legal tender) by the State, exclusively; in amounts calculated to stabilize the general price level; without debt obligation to private persons; with all lending to be performed by private legal persons, exclusively; while safeguarding the widespread ownership of private property.

The widespread ownership of private property.
Free enterprise.
Beats naked capitalism any day.

joebhed

By: Anonymous

Anonymous — Tue, 27 May 2008 07:52:00 +0000

thanks for the excellent post.

Housing has been over-built (too many houses and tons of square feet per American.)

Peak Oil is just beginning to diminish our wealth and increase our expenses. An expensive synergism between peak oil & housing will make things worse. People will try to cut expenses by combining households to share taxes & utilities.

This ability to, and reason for, combining households should make the declines in house prices greater than experts expect.

But the ten year duration sounds reasonable. That amount of time vacant should guarantee excess housing will never be used.

MikeInOregon