"If supply and demand had been allowed to prevail, the value of China’s currency would have risen sharply. But Chinese authorities didn’t let it rise. They kept it down by selling vast quantities of the currency, acquiring in return an enormous hoard of foreign assets, mostly in dollars, currently worth about $2.1 trillion."
The Chinese government is obviously making the Chinese people work too much. These people need a shorter work week even more than we. It seems to be a race to see which sovereign (including the multinationals) can control all the natural resources. Why else would a sovereign save up money?
Nowadays Paul is flip-flopping between Neo- and Post-Keynesianism. Whereas Tom appears to have gotten wind of the fact that deficit terrorism will be rewarded with 72 Megans in the afterlife and has chosen to flip-flop between Schumpeterism and progressivism instead. American fascism? Schumpeter knew that Roosevelt and Churchill were even worse than Hitler and Stalin. If you rob Paul of his reputation to pay homage to Josef, you don't increase political capital on the left. It's really just a left pocket - right pocket operation. Of course, once HUD and the Fed are disbanded, the administrative reserve army will finally be large enough to cement relative pocket relations forever. Do you really want to play a game of Hit-and-Ron, Tom?
From a Ptolemaic perspective, planets too seem to flip-flop into retrograde. What you need to wrap you head around is not just leftist Copernicanism but Kepler.
(Stolen from Re: The People.)
"If supply and demand had been allowed to prevail, the value of China’s currency would have risen sharply. But Chinese authorities didn’t let it rise. They kept it down by selling vast quantities of the currency, acquiring in return an enormous hoard of foreign assets, mostly in dollars, currently worth about $2.1 trillion."
ReplyDeleteThe Chinese government is obviously making the Chinese people work too much. These people need a shorter work week even more than we. It seems to be a race to see which sovereign (including the multinationals) can control all the natural resources. Why else would a sovereign save up money?
I always suspected that PK was a secret member of the gnomenklatura.
ReplyDeleteYou have to love the trucker, too. He is also throwing a fascist temper tantrum. I'd say that makes him the second member of the gnomenclatura.
ReplyDeleteNowadays Paul is flip-flopping between Neo- and Post-Keynesianism. Whereas Tom appears to have gotten wind of the fact that deficit terrorism will be rewarded with 72 Megans in the afterlife and has chosen to flip-flop between Schumpeterism and progressivism instead. American fascism? Schumpeter knew that Roosevelt and Churchill were even worse than Hitler and Stalin. If you rob Paul of his reputation to pay homage to Josef, you don't increase political capital on the left. It's really just a left pocket - right pocket operation. Of course, once HUD and the Fed are disbanded, the administrative reserve army will finally be large enough to cement relative pocket relations forever. Do you really want to play a game of Hit-and-Ron, Tom?
ReplyDeletewordplay,
ReplyDeleteFrom a Ptolemaic perspective, planets too seem to flip-flop into retrograde. What you need to wrap you head around is not just leftist Copernicanism but Kepler.