yes, and the latter had to with the realization that Yamani had, that Perez Alfonso's OPEC, could corner the market on petroleum. So you're
saying there's been 3500% percent inflation since that time
Well you have read Ahmed's "Lords of Finance" right, about Strong, Norman, Havenstein et al, You miss that the decision on the gold standard in '33 and '71 was driven by deficit spending issues, not the other way around. I'm fully on board with you on the Fed, after the Greenspan experience
Well take that point up with Matt Taibbi, the historical reference is a cycle has in never collapsed in this way before. It's like we're living in
a Michael Thomas novel, who gave up fiction sometime in the early 00s
What happened in 1993, with the CRA revisions most directly had an impact with 2008, so did the first lawsuit Obama won against Citibank,
for 'redlining. How 1971, which was due to the overspending on both
guns and butter, relate to today is a little more murky.
Now business cycles run 8-10 years, so it begs to reason that sometime around 2009-10, would have run out of steam, but that did
not turn out that way.
The Crisis was certainly looming at that time, but it took the collapse of first Bear Stearns and then Lehman Brothers, six months apart, under a wave of phony contracts, and one has to wonder how did this
end up happening with 60 days of an election, all economic crisis I can recall, notably 1837, 1873, 1893, happened after an election
Now it can be argued that the solution posited from the last crisis, the tech and derivative bubble, Sarbanes/Oxley really facilitated this last crisis
Yes, 'they thought me mad at the university,' is that the logic, maybe
PCR can take the Delorean back to 1980, and I don't even know what
alternate economic strategy he would follow,
The parallel is really closer to Britain if you want to hazard it, although
the bell didn't "toll for thee' till Suez, when they exited India that meant the NorthWest Frontier and Afghanistan where they had been for the better part of a century, Egypt for three quarters of one, Kenya
for roughly that same time
You have to as they say Rex, 'read the whole thing' I took issue with some of PCR's later contentions are dubious and counterproductive, The Soviets were overextended certainly in Eastern Europe and in the perennial quagmire that is Afghanistan, then again they have a skill at creating 'quagmires' read Tolstoy's "Cossacks' and then Nathan Thornburg's take on Chechnya a hundred and fifty years later in Time, then again he was confused by a simple beat like Alaska, so scotch that suggestion.
That's so blinkered I don't know where to start, Stockman, I've gathered what a back stabbing weasel he was and is. There's a degree of truth in the view of the establishment objections, the ones who wanted seemingly a return to the Nixon/Ford era of stagnation it seems. That seems to the glorious world that Frum wants to return to as well.
Soviet Russia, like it's predecessor, 70 years before, was a terribly brittle system, but it took the twin shocks of the Japanese War
(re; Bely's Petersburg) and the First World War (any part of the
Red Wheel) China had already embarked on the Kuomingtang redux
path in 1985, under Deng, India was the lone hold out, but a small
nuclear exchange with Pakistan will solve that problem. Talk about
'thinking of foolish things'
"Facts are stubborn things" unfortunately we don't get them from the press anymore;
That 'post hoc prompto ergo hoc,' the mosque was built 30 years before the WTC attack, right around the time the towers went up.
Colin, my frem, I don't discount what the media can do to annihilate some one's 'public consciencesnes' you apparently do, considering the Journolist revelations, and the patent lies said about the tea parties. However, after everything you've seen, how each new initiative he puts forward doesn't even come close to solving the problem, but creates some new problems, 'blowing the transaxle" of American fiscal and administrative governance, I cannot see this coming to a good end. That's not including the donnybrook over Iran, and some other major flashpoint maybe the very crisis on the Arabian peninsula, alluded to by the one who have turned on so aggressively, even she has been more right than you would care
Well if people did learn from history, Santayana wouldn't have had to remind them, did he borrow that line from Hegel. With the onset of monetization of the debt, that's the snake eating it's own tale, that sounds a touch like the prelude to Stuart Archer Cohen's dystopiananarchist tale, 'Army of the Republic' from Juneau's resident anarchist
Of course that little tome was stocked full of Kossian conspiracy riffs, about rigging of elections, American death squads, all that fun delusion, of course in the end the arriviste revolutionary leader and
the noble, if confused magnate, face off, and well there can be only one
"Release the Kraken"