Comments on: Links 11/29/08 http://www.nakedcapitalism.com/2008/11/links-112908.html Sun, 22 Nov 2009 16:18:41 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27691 Anonymous Sun, 30 Nov 2008 19:48:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27691 Here's the nub of Krugman's economics: "Depression economics, however, is the study of situations where there is a free lunch, if we can only figure out how to get our hands on it, because there are unemployed resources that could be put to work." The problem with this is that there are always unemployed resources. When oil prices were 150frns/barrel there was lots of unemployed oil and there is even more now. Seems like labor is different but it isn't. You have to have capital, e.g. food, clothing, shelter (or else equivalent paychecks) to employ that labor. I grant that now that the US (the leader of the rational world) has transcended racism we can engage in a dispassionate discussion of the merits of restoring slavery. However even slaves have to be paid in food, clothing and shelter. Here’s the nub of Krugman’s economics: “Depression economics, however, is the study of situations where there is a free lunch, if we can only figure out how to get our hands on it, because there are unemployed resources that could be put to work.” The problem with this is that there are always unemployed resources. When oil prices were 150frns/barrel there was lots of unemployed oil and there is even more now. Seems like labor is different but it isn’t. You have to have capital, e.g. food, clothing, shelter (or else equivalent paychecks) to employ that labor. I grant that now that the US (the leader of the rational world) has transcended racism we can engage in a dispassionate discussion of the merits of restoring slavery. However even slaves have to be paid in food, clothing and shelter.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27639 Anonymous Sun, 30 Nov 2008 03:22:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27639 The situation between Pakistan and India is beginning to deteriorate with rumors of up to 100,000 Pakistani troops possibly being relocated from the Afgan border to the border with India. This situation could well dominate the international news and financial headlines in the coming weeks.<br/><br/>http://www.alertnet.org/thenews/newsdesk/LT668351.htm The situation between Pakistan and India is beginning to deteriorate with rumors of up to 100,000 Pakistani troops possibly being relocated from the Afgan border to the border with India. This situation could well dominate the international news and financial headlines in the coming weeks.

http://www.alertnet.org/thenews/newsdesk/LT668351.htm

]]> By: doc holiday http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27636 doc holiday Sun, 30 Nov 2008 02:06:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27636 Are those songs for the inauguration ball?<br/><br/> I remember the great feeling watching Fleetwood Mac playing Don't Stop, for The Clinton's, and getting pumped up for change -- but things did stop and they did change, and now many years later, we have, as a nation, a new chance to begin and look at what can be -- looking back, reminded that, "Yes We can", realizing, yes we did, and now what? Can we?<br/><br/>I hope that The Obama Music Programe is not too weird, not too old, not too un-original, but perhaps a connection to something heart-felt and emotional like Dylan or some American that cuts to the bone and passes over all the bullshit and the pop lyrics that caught the ear of The Clinton's. Maybe even some mournful and somber thing from johnny Cash? I hope we don't see the violent heart-felt despair of young people and the angry rap that morphs into some foul desecration of what America may still be or has been, or the synthetic up-beat happy sound connected to some shopping mall tunes that pump up people to believe in the spirit of XMAS.<br/><br/>I'd like to hear truth from Obama and then songs that are based on the emotion of The American Experience, something we can all share and feel, versus feeling out of touch.<br/><br/>If Obama can't solve the mystery of <br/>inauguration music he won't have a chance for the economic nightmare that is unfolding! Are those songs for the inauguration ball?

I remember the great feeling watching Fleetwood Mac playing Don’t Stop, for The Clinton’s, and getting pumped up for change — but things did stop and they did change, and now many years later, we have, as a nation, a new chance to begin and look at what can be — looking back, reminded that, “Yes We can”, realizing, yes we did, and now what? Can we?

I hope that The Obama Music Programe is not too weird, not too old, not too un-original, but perhaps a connection to something heart-felt and emotional like Dylan or some American that cuts to the bone and passes over all the bullshit and the pop lyrics that caught the ear of The Clinton’s. Maybe even some mournful and somber thing from johnny Cash? I hope we don’t see the violent heart-felt despair of young people and the angry rap that morphs into some foul desecration of what America may still be or has been, or the synthetic up-beat happy sound connected to some shopping mall tunes that pump up people to believe in the spirit of XMAS.

I’d like to hear truth from Obama and then songs that are based on the emotion of The American Experience, something we can all share and feel, versus feeling out of touch.

If Obama can’t solve the mystery of
inauguration music he won’t have a chance for the economic nightmare that is unfolding!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27626 Anonymous Sun, 30 Nov 2008 00:37:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27626 On another note, music for the times:<br/>Hard Times, Pusherman, Superfly - Curtis Mayfield<br/>Cosa Nuestra (album) - Willie Colon<br/>Smiling Faces Sometimes -Ojays(?)<br/>Ball of Confusion -Temps<br/>Don Giovanni (written for Paulson, Rubin?)<br/>On Broadway (or Wall Street) -Drifters<br/>Too High ,Livin for the City -Stevie Wonder<br/>Barrett's Privateers -trad/Stan Rogers<br/>Liar, Disconnect - H. Rollins<br/>Mr. Knowitall - Primus<br/>Trouble Man - M. Gaye<br/>Castles Made of Sand - J. Hendrix<br/>The Payback, The Boss, Blind Man Can See it, Take Some..Leave Some - James Brown<br/>I want a new Drug, If this is It, Huey Lewis and the News<br/>Death Wish - H. Hancock<br/>Can You Get to That, Whole Lotta BS, If You Don't Like the Effects Don't Produce the Cause- Funkadelic<br/>The Gold Rush is Over - Hank Snow<br/>I'm Payin Taxes, What Am I Buyin?- Fred Wesley and the JBs<br/>Expensive Shit - Fela Kuti<br/>Bloodsucking Leeches -Dixie Dregs<br/>What's Going On? We got Robbed -DDBB<br/>Oh Don't let em drop the bomb...- Mingus<br/>Across 110th Street -B Womack<br/>God Only Knows - Beach Boys<br/>Moanin' - A Blakey<br/>Wrong - W. Jennings On another note, music for the times:
Hard Times, Pusherman, Superfly – Curtis Mayfield
Cosa Nuestra (album) – Willie Colon
Smiling Faces Sometimes -Ojays(?)
Ball of Confusion -Temps
Don Giovanni (written for Paulson, Rubin?)
On Broadway (or Wall Street) -Drifters
Too High ,Livin for the City -Stevie Wonder
Barrett’s Privateers -trad/Stan Rogers
Liar, Disconnect – H. Rollins
Mr. Knowitall – Primus
Trouble Man – M. Gaye
Castles Made of Sand – J. Hendrix
The Payback, The Boss, Blind Man Can See it, Take Some..Leave Some – James Brown
I want a new Drug, If this is It, Huey Lewis and the News
Death Wish – H. Hancock
Can You Get to That, Whole Lotta BS, If You Don’t Like the Effects Don’t Produce the Cause- Funkadelic
The Gold Rush is Over – Hank Snow
I’m Payin Taxes, What Am I Buyin?- Fred Wesley and the JBs
Expensive Shit – Fela Kuti
Bloodsucking Leeches -Dixie Dregs
What’s Going On? We got Robbed -DDBB
Oh Don’t let em drop the bomb…- Mingus
Across 110th Street -B Womack
God Only Knows – Beach Boys
Moanin’ – A Blakey
Wrong – W. Jennings

]]> By: Andrew Foland http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27619 Andrew Foland Sat, 29 Nov 2008 22:23:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27619 <i>This story is more unvarnished than the Black Friday coverage I see in the US.</i><br/><br/>Thank you for this comment! In Boston, malls and electronics stores looked like a normal weekend yesterday (at best); today (Saturday) was, if anything, a slow (but not horrible) Saturday. The toy store had more employees than shoppers. <br/><br/>Yet what do I see on TV? "Vast crowds line up for days, shop until they kill people!" I'm sure there are isolated crowds. But they are isolated, not representative.<br/><br/>The disparity between reality and the news on this subject was enough last night to mention to my wife that I felt like I was gaining an understanding of what it was like to read <i>Pravda</i>. This story is more unvarnished than the Black Friday coverage I see in the US.

Thank you for this comment! In Boston, malls and electronics stores looked like a normal weekend yesterday (at best); today (Saturday) was, if anything, a slow (but not horrible) Saturday. The toy store had more employees than shoppers.

Yet what do I see on TV? “Vast crowds line up for days, shop until they kill people!” I’m sure there are isolated crowds. But they are isolated, not representative.

The disparity between reality and the news on this subject was enough last night to mention to my wife that I felt like I was gaining an understanding of what it was like to read Pravda.

]]> By: Tortoise http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27598 Tortoise Sat, 29 Nov 2008 19:31:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27598 Dear Yves and friends,<br/><br/>For your entertainment:<br/><br/>http://www.telegraph.co.uk/finance/financetopics/recession/3527803/Recession-When-the-money-goes-so-does-the-toxic-wife.html<br/><br/>Oh, the human vanity and frailty! Dear Yves and friends,

For your entertainment:

http://www.telegraph.co.uk/finance/financetopics/recession/3527803/Recession-When-the-money-goes-so-does-the-toxic-wife.html

Oh, the human vanity and frailty!

]]> By: M.G. http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27584 M.G. Sat, 29 Nov 2008 15:07:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27584 Krugman is not making at all a convincing economic and logic case for a big and quick fiscal stimulus. His case is being mounted on a kind of self-fulfilling prophecy: if we do it, it will work and if it will work we must do it, now. Krugman is not making at all a convincing economic and logic case for a big and quick fiscal stimulus. His case is being mounted on a kind of self-fulfilling prophecy: if we do it, it will work and if it will work we must do it, now.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27559 Anonymous Sat, 29 Nov 2008 09:34:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27559 Tin Man says<br/><br/>you should be linking to this:<br/>http://www.telegraph.co.uk/finance/personalfinance/investing/3525234/Encouraged-by-a-wicked-wizard-Greenspan-Bernanke-toils-at-his-printing-press.html Tin Man says

you should be linking to this:
http://www.telegraph.co.uk/finance/personalfinance/investing/3525234/Encouraged-by-a-wicked-wizard-Greenspan-Bernanke-toils-at-his-printing-press.html

]]> By: ndk http://www.nakedcapitalism.com/2008/11/links-112908.html#comment-27552 ndk Sat, 29 Nov 2008 07:57:00 +0000 http://www.nakedcapitalism.com/2008/11/links-112908/#comment-27552 Extensive discussion of <i>What to do?</i> over at <a HREF="http://economistsview.typepad.com/economistsview/2008/11/krugman-what-to.html#comments" REL="nofollow">Economist's View</a>. Walt and I take each other to the woodshed, I have an epiphany about why China can't revalue the yuan that I'll post here on the next China thread, and it seems all outcomes suck. Extensive discussion of What to do? over at Economist’s View. Walt and I take each other to the woodshed, I have an epiphany about why China can’t revalue the yuan that I’ll post here on the next China thread, and it seems all outcomes suck.

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