Korean Job Discussion Forums

[Gollywog]

Well, I thoroughly enjoyed both micro and macro econ. I had a great teacher, and we used the classic: Samuelson.

And I enjoyed reading and seeing "Free to Choose," by Milton and Rose Friedman. "Wealth of Nations" is an interesting read, too, abridged.

If you don't understand the basics of economics, you are going to fall prey to all sorts of bogus predictions and ideologies.

Conservative economic theory is not the whole story, but it is the foundation of economics.

What we are seeing is a fair amount of cooperation in responding to the economic problems, which is why there hasn't been a panic and crash.

However, there is a limit to the cooperation, and the options are severely limited, for reasons pointed out by earlier posters.

If there is a recession or depression, that should slow demand and inflation. And the inflation numbers cited do not seem to include wage inflation, so it is not clear there is an inflationary spiral in at least some countries.

Economic imbalance has a way of working itself out, if it is allowed to take its course. If that happened, the U.S. would be bankrupt. That is not in the interest of other countries holding the Treasury notes.

Good thread. Keep posting, please.

[Zenas]

Well, you'd better re-educate yourself. I had to.

Did you learn anything from Ludwig von Mises?

Did you learn that the Federal Reserve is as federal as Federal Express?

Did you learn why the Federal Reserve Act was passed in 1913 and the Federal income tax along with it?

Did you learn that fiat money and our credit system guarantees inflation?

Did you learn about the Bretton Woods agreement?

Did you learn why the Constitution requires the coining of gold and silver by the states and Congress?

Article I, Section 8, Clause 5. The Congress shall have Power�To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.

Article I, Section 10, Clause 1. No State shall�coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.

Notice how the money had to be coin, not paper, for good reason.

Did you learn how the commandment "Thou shalt not steal" relates to fiat currency? "....nd fix the Standard of Weights and Measures." and " regulate the Value thereof"

Did you learn how the IMF and the World Bank loan money to developing nations with conditions that forces those nations to lose control over their resources?

If not, you've probably learned what those controlling our economies want you to learn and not much else.
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[Gollywog]

As I said:

[Zenas]

China worried over foreign funds inflow

BEIJING: China�s foreign exchange administrators are worried about the sudden increase in the foreign inflows that cannot be explained in terms of trade surplus, equity investments or foreign direct investments. The amount of such "hot money" inflows has broken the past records by reaching an estimated amount of $150 billion in the past five months.

http://timesofindia.indiatimes.com/Business/China_worried_over_foreign_funds_inflow/articleshow/3198868.cms

Rumors are that the funds - which are much higher than stated - are coming from the US. Those in the know in the US are getting their money out asap.
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[Paddycakes]

They've all been reading Jim Rogers I guess...