Crystal ball,
I'm glad you brought up all the complaints people might have. First, let me bring up some points. I might be wrong. But anyone can correct me with logical reasoning.
You said:
The ONLY INFLATION created was initiated by Alan Greenspan and the Federal Reserve FOMC jacking up interest rates starting last June 1999, and continuing thoughout 2000. This created an increased cost of money, that is the price of money went up.
I agree with you on this. Greenspan should've done a better job to control the overheated economy. For example, he should've raised the interest rate earlier but he had waited too long. Also, he should've cut interest rate in Dec'00. This economy had been overheated, no matter what. We simply cannot have exponential growth year-after-year. Just imagine if people become richer as wages increase with respect to the stock market, and some may become instant millionaire. Let's face it. Where does the money come from ? Of course it is not real money, until you take it out from the bank.
You said:
the YEN and EURO continued to drop, multi-nationals seeing the writing on the wall and DESPERATE to maintain overall price stability sought to put the squeeze on the one sector they could: COST OF LABOR
I think every nation shouldn't have the same interest rate standard as the US have, since different nations have different living standard.
and thus the WTO
I personally think WTO can give market liquidity for other foreign economies, so the foreign nations can have more funds to produce either manufactured products or natural resources for the world needs. Of course, they will be subject to trade rules by WTO to prevent corruption.
You said:
PERMANENT COMMUNIST CHINA MEMBERHSIP IN MOST FAVORED NATION TRADE STATUS
First, how do you define "communism" ?
I personally no longer see them as communist as they used to be 20-50 years ago. At least, ShenZhen has stock market, Shanghai has stock market, and business people can invest into the mainland and own properties. We didn't see those kinds of things 20-50 years ago. If China has more buying power, they will actually buy more products from the US, Europe, and Japan, helping to keep down the trade deficits and the Yen.
You said:
no one can compete with 12 cents an hour.
It is not a matter of 12-cent per hour wages. It is a matter of whether different nations can produce different products for other nations, and trade among each other. If workers in other nations are paid 12-cent per hour, they technically have less buying power within the world economy. There always have tradeoffs.
You said:
stifled housing starts
Housing price unfortunately grow along with the economy. If you want to make money, you can actually go to Santa Barbara California. Get a high-tech job and buy a cheap house there. The potential economic growth there is pretty good.
You said:
collapsed the liquidity of cash in the financial markets causing the NASDAQ and NYSE to fall to record lows not seen since the great depression, not CRASHED since 1929 and 1933 the year Hitler spread across Europe.
Don't worry. The systems are totally different. The govt now have big surplus. I know their plan.
You said:
the Alan Greenspan/Larry Summers year of economic warfare by monetary policies.
Economic warfare ... Can you come up with a better economic system in this capitalist market ?
You said:
All in the name of "Global Welfare" for failed IMF and World Bank projects across corrupt regimes that we should pray never get an automobile in every grass ut to add to the air pollution, water pollution and increase the demand and price for world oil.
I believe the future technology can improve the air quality. I really hope oil can become obsolete in 10-20 years later. Let's give our future technology a chance.
Have you ever wondered the futuristic world of Arthur C Clarke ? By the way, do you actually think WTO is corrupt, full of conspiracies ?
You said:
The Ancien Regime must pass, they have kept their grip these past 18 months by stunting the growth of the newborn high technology and internet decentralized econmic models, that affront their old centralized government planning and authoritarian short sighted view of the world and the future.
I agree that the internet presents some danger to the society in some degree. However, it also has the good side of it, like we can discuss things and enlighten each other.
I guess you are complaining about the .com pump-n-dump phenomenon. IMO, most young people, who love to party, want to make easy money. But they ignore all the basics.
You said:
If we are going to have an economic revolution, then we will have new economic models, and they will be outside the old business cycle, and the old cycle of expansion and contraction, human nature driven or driven by the unseen hand of Adam Smith, would likewise be broken, and maybe escaped from forever, like escaping from the earth's pull of gravity with enough force, enough escape velocity to enter the space age once and for all. Here's to seeing you all on the dark side of the Moon.
Unfortunately yes, that's why the adjustment of interest rates comes into play. It prevents our spaceship from steering off the orbit into outta space, but also from diving toward the earth and crash. I think Greenspan is having tough time to control the economy. And IMO the global economy shouldn't concentrate on the US alone. Nations around the world need to survive and deserve better life-style, by keeping the cash flow circulated for the global high tech economy to go forward.
Q |
