Sunday, August 16, 2009

Money 1

Moral: Wherein we consider money.


We'll eventually get to a Money 101, however let's start to collect some background information using prior post from the related blogs.
From these, a few are listed that need more discussion.
  • Where is the money? -- this is in the context of the losses of the past few months. To where did the money go. Well, many explanations confound the issue. You see, these views do not separate money from its use. So, we have a fiat situation with money where wizards set value. Yet, 'intrinsic' value comes into play in more ways than finance allows.
  • I M F -- as we all know, there are those who work in the realm of money. Too, we know that those with more have greater power than those without. What is it exactly that allows money to accrue power (and I mean more than the salivating of the politicos as bucks are passed beneath their noses)?
  • Stable money vs Gab standard -- not an easy issue as we can see from looking at the history of these arguments. Yet, engineering of money would allow more science than we get with just the dismal variety. What would be the motivation? Well, just as the financials froze when they woke up to the fact that they were only playing against others like them (the whole playing field of advantages changed) -- they not only froze, they quit playing -- ah, feel sorry for them? -- well, we must have, as we allowed a bail out of the fat cats (question - who in Main street is enjoying any benefit of all those bucks thrown to the fat cats?).
  • Fresh look & What the hell happened -- many choices led to the recent downturn and its dire consequences for the most. These all can be looked at more closely. Those who were to show, at least, some modicum of fiscal responsibility only cared for the size of their own pockets.
  • Truth about money -- there are people who do not salivate when confronted with piles of money or gold. Are they smart? Yes, in many ways smarter than the best and brightest (what a sickening concept! created by fat cats to describe those who activities filled the fat cats' pockets maximally - of course, the fat cats would allow some bonus -- albeit, of outrageous magnitude to those with any sense of decency).
  • What is money? -- by the way. Be sure to look at von Mises work. One side of the confounded answers (see first bullet) deals with this question. Money has a long history. Its most recent manifestation, as an abstraction, can never be audited truly (despite SOX, et al) because it is an open topology. You do have to give a slight nod to those who saw the silly game's advantages for siphoning off boatloads of bucks; yet, money and ethics ought to get acquainted.
  • Money and Being -- as quaint as this may appear, it is seriously offered.
This list covers some of the basics. Next up, we'll look at securities and related.


05/24/2011 -- Lemons problem, dark pools, ... Oh, so much to look at!

03/17/2011 -- On the rise of the professional politician (will there ever be the citizen polico? that is, those who do not salivate when a buck is passed beneath the nose) toward robber barony. The M & Ms are apropos. As well, need to bring in Schervish's viewpoint.

01/27/2011 -- The chimera shines.

11/02/2010 -- Over a year later, the message is the same, except some changes have occurred. But Big Ben continues in his ways. Of real note is that the jobless rate is high; out-housing really set up for that. Also, we need to re-look at that learned from the 'vons' guys, Ludwig and Friedrich. See Near Zero.

12/15/2009 -- Requiem for the dollar (WSJ) and responses.

08/24/2009 -- Money 2. Gosh, now we see credit as an asset?

08/21/2009 -- Banks handle our money. Many have failed. Most have done so by bad loans rather than by screwy financial instruments, says the NYT. Ah, but they're the best (in their own minds). Do they need to be scrutinized further?

08/17/2009 -- Books on the credit crunch. This crunch involved "macroeconomic imbalances, greedy and incompetent bankers, and fraudulent American homebuyers."

08/17/2009 -- We'll get into value, too, in the sense of money having two roles (perhaps, more). One is a medium of exchange. The other is a measurement of wealth. Joseph Lazzaro estimates that the US's total value of wealth is $50,000,000,000,000 in the context of do we have enough money to fix up the economy. Of course, $2,000,000,000,000 is from China.

Modified: 08/24/2011

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