tag:blogger.com,1999:blog-2761684730989137546.post587388558182832486..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: HuffPo — "As Middle Class Shrinks, Products Begin To Be Tailored To Rich And Poor"mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-85590997576545490172011-09-14T04:57:52.339-04:002011-09-14T04:57:52.339-04:00ThanksThanksGLHnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-56212995274557296592011-09-13T09:37:03.693-04:002011-09-13T09:37:03.693-04:00GLH, the basic difference is that the US is a fede...GLH, the basic difference is that the US is a federal system with the Fed and Treasury being agencies of the federal government. <br /><br />Although the Fed is politically independent to some extent, the Fed and Treasury cooperate to effect monetary policy and coordinate monetary and fiscal matters.<br /><br />The EZ is a confederation without a fiscal counterpart to the US Treasury and a federal government that is in charge of fiscal operations. The ECB is politically independent and manages monetary policy. This leaves an enormous hole between monetary and fiscal in the EMU, which is at the bottom of the problem, along with asymmetry.<br /><br />Yes, it is possible to run an economy without a central bank. All options have pros and cons.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-87524364445725441762011-09-13T04:15:37.670-04:002011-09-13T04:15:37.670-04:00Mr. Hickey;
I know this is off topic, but I would ...Mr. Hickey;<br />I know this is off topic, but I would like for you to discuss the differences between the European Central Bank and the Fed. I ask you to do this because I've been listening to Michael Hudson and he raised several questions in my mind about central banks in general. I think he was mainly criticizing the ECU. Is is possible to have a modern economy without a central bank as some politicians have suggested?GLHnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-43066277343988040812011-09-13T00:08:07.476-04:002011-09-13T00:08:07.476-04:00yup. I saw this WSJ article today and posted it on...yup. I saw this WSJ article today and posted it on facebook saying "this is not good." <br /><br />Still most of the baby boomers I talk to you are all still refusing to think outside the boxes given to them by media/etc. So be it...Jedi!Mariohttps://www.blogger.com/profile/00905402431684735610noreply@blogger.com