Ray Hendon

After G-20: The Beginning of the End of the Old Order

Invest in A Farm: Thank you for your thorough exposition on Mr. Draghi. I confess I am not familiar with the history you describe, so I appreciate the information.

Best wishes,

Ray

After G-20: The Beginning of the End of the Old Order

gramps2
I see you are quite active in posting comments. I always appreciate thoughtful contributions. My preference would be more thought and less name calling and silly labeling. But to each his own.

You must take your views on yesterday's economics to all the world forums. Romanticism never dies. I guess that is its charm.

Best wishes,

Ray

After G-20: The Beginning of the End of the Old Order

I don't know what government actions you are referring to that have caused the existing turmoil in currency prices. Perhaps you could be more specific on what actions you mean.

As far as economic theories taught in textbooks, I am not aware of any theory that does not consider the effects of government actions. It would be a weird theory that ignores this important a factor. Even the most outdated classical microeconomic theory recognizes the importance of the public sector in influencing economic events.

As far as returning to a gold or other commodity standard, this subject has been adequately explored and tried over the centuries to know the actual effects. A modern economy would be hard pressed to function waiting on a new gold discovery to increase the supply of money.

There is something romatically appealing about "gold" that casts a spell on a lot of folk. But, as a tool of economic growth or even stability, it is like all romantic notions: great in conversation and dreams, but a nightmare in actual practice.

Best wishes,

Ray