Comments on: Chinese Prof: If the US wants to be saved, it should be saved the way the IMF “saves” countries http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/ Firedoglake weblog Thu, 26 Nov 2009 06:05:17 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: someofparts http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1725442 someofparts Fri, 14 Nov 2008 20:20:08 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1725442 <p>How depressing and morbidly funny to hear that wingnuts plan to John Galt waitstaff for supporting Obama. </p> <p>First, saying you plan to John Galt somebody sounds like you plan to force them to read bad books.</p> <p>Second, if they plan to give their tips to homeless families outside the restaurant they may be disappointed if Democrats stay in power because the homeless will vanish.</p> <p>Finally, if they do refuse to tip liberals just for spite, I hope waitstaff spit has lots of nutritional value because they’re gonna be chugging gallons of it with their lattes.</p> How depressing and morbidly funny to hear that wingnuts plan to John Galt waitstaff for supporting Obama.

First, saying you plan to John Galt somebody sounds like you plan to force them to read bad books.

Second, if they plan to give their tips to homeless families outside the restaurant they may be disappointed if Democrats stay in power because the homeless will vanish.

Finally, if they do refuse to tip liberals just for spite, I hope waitstaff spit has lots of nutritional value because they’re gonna be chugging gallons of it with their lattes.

]]> By: raven333 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724527 raven333 Fri, 14 Nov 2008 06:22:12 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724527 <p>Congratulations! You have discovered the Chinese Alan Greenspan! Caw!</p> Congratulations! You have discovered the Chinese Alan Greenspan! Caw!

]]> By: james http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724487 james Fri, 14 Nov 2008 05:54:16 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724487 <p>For anyone who needs a good primer on postwar economics and how we got where we are there are 2 really good books.</p> <p>One is the late Andrew Glynn’s Capitalism After 1945 and the other is Mike Hudson’s Super-Imperialism. </p> <p>Beyond that there are the wonderful books by Bowles/Weisskoff/Gordon After the Wasteland and Beyond the Wasteland. Ahhh…the joys of going over the social structures of accumulation with the sight of 800+ point intraday swings on the Dow.</p> <p>Too bad they replaced all the windows downtown with ones that don’t open.</p> For anyone who needs a good primer on postwar economics and how we got where we are there are 2 really good books.

One is the late Andrew Glynn’s Capitalism After 1945 and the other is Mike Hudson’s Super-Imperialism.

Beyond that there are the wonderful books by Bowles/Weisskoff/Gordon After the Wasteland and Beyond the Wasteland. Ahhh…the joys of going over the social structures of accumulation with the sight of 800+ point intraday swings on the Dow.

Too bad they replaced all the windows downtown with ones that don’t open.

]]> By: Blub http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724485 Blub Fri, 14 Nov 2008 05:38:27 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724485 <p>sorry. .. my #83 was in response to #78. darn iphone doesn’t deal well with the FDL reply feature sometimes</p> sorry. .. my #83 was in response to #78. darn iphone doesn’t deal well with the FDL reply feature sometimes

]]> By: Blub http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724484 Blub Fri, 14 Nov 2008 05:31:29 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724484 <p>possible, of course, but in recent years their academics have been allowed a fair amount of free-press access to express their views, even if those views are loony and break with politburo policy. Hot issues like Taiwan, Tibet, political oppression at home, criticism of the Olympics, etc are still taboo of course, but you can pretty much say what you want about other countries’ foreign or economic affairs. Heck, you can even write about poisoned food, corruption at home and AIDS on a good day. I wouldn’t read too much into this particular sinothug’s nationalistic ramblings.</p> possible, of course, but in recent years their academics have been allowed a fair amount of free-press access to express their views, even if those views are loony and break with politburo policy. Hot issues like Taiwan, Tibet, political oppression at home, criticism of the Olympics, etc are still taboo of course, but you can pretty much say what you want about other countries’ foreign or economic affairs. Heck, you can even write about poisoned food, corruption at home and AIDS on a good day. I wouldn’t read too much into this particular sinothug’s nationalistic ramblings.

]]> By: MarkH http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724481 MarkH Fri, 14 Nov 2008 05:26:19 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724481 <blockquote><p>btw, isn’t Iceland doing the whole IMF failed state thing now?</p></blockquote> <p>Can a ‘terrorist’ country do that?</p> <p>Weirdest damn thing for UK to label them terrorist.</p>

btw, isn’t Iceland doing the whole IMF failed state thing now?

Can a ‘terrorist’ country do that?

Weirdest damn thing for UK to label them terrorist.

]]> By: DrDick http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724480 DrDick Fri, 14 Nov 2008 05:24:55 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724480 <p>Off to bed to dream of the socialist workers paradise (Finland!).</p> Off to bed to dream of the socialist workers paradise (Finland!).

]]> By: MarkH http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724479 MarkH Fri, 14 Nov 2008 05:24:22 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724479 <blockquote><p>They all knew it was a house of cards. They just hoped it would crash on somebody’s else watch. In the meantime they were as greedy as anyone over here.</p></blockquote> <p>The crazy mortgages have to go, but curiously the Credit Default Swaps might work out in the end.</p> <p>If, they charged properly for a CDS and, over time, the mortgage default rate isn’t very high and the dollar value drops enough, then any ‘claim’ on a CDS ‘insurance policy’ might not have to pay out very much in inflation-adjusted dollars. It’s complicated.</p> <p>However, if the dollar rises back up on strong exports and less oil imports, then they might lose money paying off CDSs.</p> <p>Key is for government to do the right thing and fix the mortgages to protect homeowners and do it quick. I suppose that’s why Paulson has tried to kill the FDIC plan to workout mortgages — evil Bushie bastards.</p>

They all knew it was a house of cards. They just hoped it would crash on somebody’s else watch. In the meantime they were as greedy as anyone over here.

The crazy mortgages have to go, but curiously the Credit Default Swaps might work out in the end.

If, they charged properly for a CDS and, over time, the mortgage default rate isn’t very high and the dollar value drops enough, then any ‘claim’ on a CDS ‘insurance policy’ might not have to pay out very much in inflation-adjusted dollars. It’s complicated.

However, if the dollar rises back up on strong exports and less oil imports, then they might lose money paying off CDSs.

Key is for government to do the right thing and fix the mortgages to protect homeowners and do it quick. I suppose that’s why Paulson has tried to kill the FDIC plan to workout mortgages — evil Bushie bastards.

]]> By: DrDick http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724478 DrDick Fri, 14 Nov 2008 05:17:57 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724478 <p>Iceland is indeed in the foul clutches of the IMF. Don’t know the details of the restructuring plan, however.</p> Iceland is indeed in the foul clutches of the IMF. Don’t know the details of the restructuring plan, however.

]]> By: BargainCountertenor http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724477 BargainCountertenor Fri, 14 Nov 2008 05:17:12 +0000 http://firedoglake.com/2008/11/13/chinese-prof-if-the-us-wants-to-be-saved-it-should-be-saved-the-way-the-imf-saves-countries/#comment-1724477 <p>It’s also possible that the prof’s views are being floated in a plausibly deniable way.</p> <p>I’m not the least bit sure that I believe that, but it’s a possibility.</p> It’s also possible that the prof’s views are being floated in a plausibly deniable way.

I’m not the least bit sure that I believe that, but it’s a possibility.

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