From: abelard 
Newsgroups: uk.politics.misc uk.finance
Subject: Re: UK debt crisis is imminent. What happens to the economy ? the fossil media strikes again...
Date: Mon, 06 Jun 2005 21:56:29 +0200

On Mon, 6 Jun 2005 18:36:35 +0000 (UTC), M Holmes 

  typed:

>In uk.finance abelard  wrote:
>
>>>> in the thirties there were attempts to get back to sound
>>>> money....nobody
>>>>      is *that* mad anymore...
>
>>>That's a real shame.
>
>> a pov.....but do you want an old time deflation?
>
>Sure. After six decades of inflation, it's time for the medicine.

where's the purpose...25% 'unemployed'

>> at the heart of what keynes taught is that there is no natural
>>      rate of unemployment.... 
>
>I'm an Austrian, not a Keynesian.

you don't have to get religion to recognise the problem

>>>> if the debts can't be paid....they'll essentially get written off.....
>
>>>Writing off a debt collapses the money supply in just the same way as
>>>paying off a debt does. Do enough of either and you get a deflation.
>
>> so, you do it slowly?
>
>Why have twenty years of recession when you can have four of depression
>and get on with the new boom?

repeat stt re keynes....why do you believe there will be a 'boom'?

>> you print more than you write off?
>
>The quickest way to currency repudiation and the return of Gold that
>exists.

durrrhhhhh.....to refuse to return it would be a repudiation....
you're not one of those damnable gold bugs are you.....

>> japan is in the midst of that learning curve....
>
>Helicopter money was tried in Japan. It failed.

they are still eating.....rather well.....
and the problem, such as it is....appears to be *gradually* sighing
    away....
work is the curse of the drinking classes.....

i'm told brown is moving towards 40-50% clientalism.....
this is a new world.....
much 'work' is designed to stop grafitti....not to produce anything....

>> best you try to keep out of it in the first place...
>> 'i'd rather not start from here'
>
>Indeed, but You Are Here ->

no....we have no serious deflation so far....

>>>>>But you and I at least have danced this dance before... 
>>>
>>>> i'm not convinced you understand my position sufficiently :-)
>>>
>>>I have similar suspicions about thee sir!
>
>> that could easily be...
>> i start from the real world.....i get the impression you still have the
>>      cobwebs of uni voodoo economics!
>
>I've never been to a University Economics class in my life.

don't stop you reading the scribblers in the daily slime....and getting
    infected

>If you're serious about reasoning from what you see, check out the
>Austrians: they're much hotter on what happens in fact than what happens
>in theory.

that suits me fine.....
but i'd rather you were much more specific than 'the austrians'...even
    adolf was one of those....

regards...

-- 
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