Last Man Standing by Tyler Cowen
April 11, 2009 4:33 PM Subscribe
"Americans talk about institutions that are 'too big to fail.' In parts of Europe, it's more apt to speak of those 'too big to be saved.'" Last Man Standing by Tyler Cowen of Marginal Revolution fame.
Yawn, yawn. Bootycall Glenn Beck and get a room. Or better yet, I hear patrioterotica.com is still for sale.
Glenn Beck? Please. Cowens is making pretty solid arguments. The dollar went back up because now bank asset sheets are more realistic. People's fantasies of hoping for America's doom are way off base.
posted by Ironmouth at 5:28 PM on April 11, 2009
Glenn Beck? Please. Cowens is making pretty solid arguments. The dollar went back up because now bank asset sheets are more realistic. People's fantasies of hoping for America's doom are way off base.
posted by Ironmouth at 5:28 PM on April 11, 2009
The dollar went back up because now bank asset sheets are more realistic.
Yeah right. The value of the dollar went up because of all the deleveraging going on. As people tried to pay back their loans back the pool of available dollars shrank. Simple supply/demand.
And of course there was the fact that foreign banks and currencies were just as at-risk, so switching from dollars to euros or yen wouldn't make you any safer.
posted by delmoi at 7:48 PM on April 11, 2009
Yeah right. The value of the dollar went up because of all the deleveraging going on. As people tried to pay back their loans back the pool of available dollars shrank. Simple supply/demand.
And of course there was the fact that foreign banks and currencies were just as at-risk, so switching from dollars to euros or yen wouldn't make you any safer.
posted by delmoi at 7:48 PM on April 11, 2009
the pool of available dollars shrank. Simple supply/demand
The money supply must be kept realistic, or it will go Zimbabwe on our asses.
/obvious point apology
posted by longsleeves at 8:09 PM on April 11, 2009
The money supply must be kept realistic, or it will go Zimbabwe on our asses.
/obvious point apology
posted by longsleeves at 8:09 PM on April 11, 2009
Yawn, yawn. Bootycall Glenn Beck and get a room. Or better yet, I hear patrioterotica.com is still for sale.
Yeah, just like that Glenn Beck boot licker Paul Krugman, who makes the same basic arguments here.
posted by afu at 9:32 PM on April 11, 2009
Yeah, just like that Glenn Beck boot licker Paul Krugman, who makes the same basic arguments here.
posted by afu at 9:32 PM on April 11, 2009
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...The ability to react swiftly to new challenges is an underlying theme in American history, whether we consider the early missions to the moon, the breakthroughs of the civil rights movement, the pioneering of environmental regulation, or the pro-market Reagan reforms of the 1980s.
Yawn, yawn. Bootycall Glenn Beck and get a room. Or better yet, I hear patrioterotica.com is still for sale.
Oh, and to answer the original question as to why the dollar has gone up in relative value: go figure? I would have assumed everybody dumped dollars when the US economy bellied-up, it's hardly like they're useful for anything else...
posted by Sova at 5:20 PM on April 11, 2009