tag:blogger.com,1999:blog-8078379512095504946.post80373075987062992..comments2024-03-26T06:17:49.527-07:00Comments on Had Enough Therapy?: Does the Dollar Have an Achilles Heel?Stuart Schneidermanhttp://www.blogger.com/profile/12784043736879991769noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8078379512095504946.post-58959791459843078202015-04-21T18:58:57.465-07:002015-04-21T18:58:57.465-07:00Okay, here's one more from the Church about Ro...Okay, here's one more from the Church about Robert Morley:<br />https://www.pcog.org/articles/78/profile-how-robert-morley-became-the-trumpet-s-economics-man<br />------------<br />His average workday consists of several hours watching the news, checking headlines from his go-to sources.<br />...<br />Morley said his passion for learning about finances and the economy actually began when he was an environmental scientist living in California from 2002 to 2005. He was newly married and had a lot of questions. He asked himself, “How do you get ahead? What do you do to be a good steward with what God has given you?” His wife challenged him to learn the financial field to make wise investments.<br /><br />The challenge showed him he had no idea how to use money prudently, he says. He started off by printing out finance and economy articles and reading them during his 90-minute train commutes in and out of Los Angeles.<br /><br />Morley says his lack of formal training in economics turned out to be a blessing in disguise. He avoided a mainstream education that would have engrained the principle of credit and instead learned a different approach.<br /><br />“It’s one of those fields that’s trying to be a science, but it can’t,” he says. “The more I understand, the less I understand.”<br />------------<br /><br />But never fear, he's trying very hard, several hours per day, to help us all understand less.Ares Olympushttps://www.blogger.com/profile/09726811306826601686noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-80853297653946707122015-04-21T18:53:47.426-07:002015-04-21T18:53:47.426-07:00I'm not sure "The Philadelphia Trumpet&qu...I'm not sure "The Philadelphia Trumpet", an online newsletter about biblical prophesy should be considered the "go to source" to world economic news.<br /><br />But I'm curious. Hmmm...Wikipedia is kind of boring.<br />https://en.wikipedia.org/wiki/The_Philadelphia_Trumpet<br /><br />How about rational wiki for the juicy version?<br />http://rationalwiki.org/wiki/The_Philadelphia_Trumpet<br />------------<br />The Philadelphia Trumpet is a religious magazine that covers world events and traces how they were foretold by the prophets of the Bible. It does a lot of shoehorning in order to make the news fit Herbert W. Armstrong's prophecies from 50 years ago. The magazine's editor-in-chief is self-appointed prophet, fundamentalist, and conservative Gerald Flurry of the Philadelphia Church of God (a break-off church of Armstrong's Worldwide Church of God). He also hosts a weekly television show, "The Key of David."<br />------------<br /><br />Didn't we just have a blog topic arguing against the idealists fictional (facts fit the narrative) approach to reality?<br />Ares Olympushttps://www.blogger.com/profile/09726811306826601686noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-85482363166474651532015-04-21T11:29:36.555-07:002015-04-21T11:29:36.555-07:00For those who are interested here are two links to...For those who are interested here are two links to discussion that relate to GDP growth in Germany/Japan after world war 2, GDP growth in China, and the process China used to accumulate international reserves:<br /><br />How Foreign Reserves Are Accumulated:<br />http://www.ecrresearch.com/how-foreign-reserves-are-accumulated<br /><br />The End of Chimerica ():<br />http://www.hbs.edu/faculty/Publication%20Files/10-037.pdf<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-52566304532249444302015-04-21T10:22:12.522-07:002015-04-21T10:22:12.522-07:00This paper discusses innovation, institutions, and...This paper discusses innovation, institutions, and other factors as the driver of GDP growth. <br /><br />http://faculty.insead.edu/fatas/wall/wall.pdf<br /><br />According to the paper the US has been the leader of GDP growth with 1.85% trend rate for 130 years, but we went from a small central government and no central bank, to a larger federal government and now a large central bank over the period. Japan and Germany grew GDP rapidly after World War II. The UK and Japan both have Sovereign currencies with much higher debt to GDP ratios than the US.<br /><br />I am still trying to understand the international payment mechanism. It seems international payment flows are swap agreements on the books of the largest banks in respective countries. However if a country runs a persistent trade deficit, as we do with China, then they ship us real goods and collect $ bank accounts in the form of Treasury securities based on swap agreements between central banks, if my hunch is correct. The central bank swaps take the load off the commercial banks when one country is importing and the other exporting in a persistent pattern.<br /><br />China and Russia do not like the fact that US has the power to punish others via international bank interference. <br /><br />I remember a picture in the local paper where a young man in Palestine is smiling and flashing a wad of $100 bills that had been smuggled into the country from Egypt in a suitcase to make government payroll after the US imposed banking sanctions. I thought this is a very interesting picture about the psychology of money.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-91595658313849209792015-04-21T06:52:39.511-07:002015-04-21T06:52:39.511-07:00Thank you for the link. It's good to have an a...Thank you for the link. It's good to have an alternative point of view.Stuart Schneidermanhttps://www.blogger.com/profile/12784043736879991769noreply@blogger.comtag:blogger.com,1999:blog-8078379512095504946.post-13988765967569853632015-04-21T06:30:25.211-07:002015-04-21T06:30:25.211-07:00http://blog.mpettis.com/2014/12/my-reading-of-the-...http://blog.mpettis.com/2014/12/my-reading-of-the-ft-on-chinas-turning-away-from-the-dollar/JPhttps://www.blogger.com/profile/11126071014909954387noreply@blogger.com