A different subject but you have asked about inflation. All I know is that in Canada house prices may be down 8% or so, and gas two thirds of what it was but everything else is going up, from my newspaper that now is $1.50 vs. $1, wine in a restaurant at $7.50 vs $3.50 to our local taxes that just received a 4% increase. And oh yea, unions which suddenly are threatening strikes all over the country. It may be a depression but it’s one with higher prices.
Rev MeehenFeb 13, 2009 @ 17:49
It is notable that the US banks experience in this economic era are quite different from Canadian banks who in a quasi-regulated environment have not experienced the management practices of of big banks in USA. Banking in Canada is seen more as a service
industry and less of a commercial and investment rodeo.
RichFeb 13, 2009 @ 10:52
Local banks rule – keep your money in your pocket!
Citigroup quintessential failed financial powerhouse.
As C goes, whither went the USA?
“Come on, world
and join hands
get on the love train,
love train!”
the O Jays
Kurt Hinz jrFeb 13, 2009 @ 9:57
Glenn your right.
What an irony that taxpayers pay for burocrats’ income, pension, & pension-bailout.
And about job-creation… that’s why I posted the links under Rick’s “Press Conference Was a Breeze”-commentary:
[https://rickack.com/2009/02/press-conference-was-a-breeze/]
Because, IF unemployment rises as gov.spending rises, we’re in for some huge problems.
Most ‘austrians’ would *probably* understand these charts, and agree to some extent that gov.spending is destructive; …while the rest of the economic world, especially ‘keynesians’ play along whith their ‘causation vs correlation’ arguments.
I think your right on about any recovery being localized. Maybe, the big banks think globally, but it will be the small local and regional banks that will think locally and hopefully invest in our future not China’s or Vietnam’s. The BIG banks have to be honest lost faith in the rest of us. Who are the real patriots in America today? Is it the hedge fund mgrs. that sink their wealthy clients money into China or Indonesian sweat shops or Indian call centers, or is the local and regional American banks that to make money going forward will need to find local talent to rebuild our battered private economy. As for the public side of this the problem, we have to start asking ourselves honestly how we as a nation can continue to pay for the GOLD plated gov’t we have @ all levels these days? Also, how will we pay for these folks pensions and benefits? A quick look at the ex-Soviet experience might be instructive here.
The long and short of this whole crisis can be summed up in one word JOBS. Without strong JOB creation in the private side of the economy all the Gov’t stimulus and Gov’t subsidizes will amount to nothing. Nobody yet seems to know how to get there.
Comments on this entry are closed.
A different subject but you have asked about inflation. All I know is that in Canada house prices may be down 8% or so, and gas two thirds of what it was but everything else is going up, from my newspaper that now is $1.50 vs. $1, wine in a restaurant at $7.50 vs $3.50 to our local taxes that just received a 4% increase. And oh yea, unions which suddenly are threatening strikes all over the country. It may be a depression but it’s one with higher prices.
It is notable that the US banks experience in this economic era are quite different from Canadian banks who in a quasi-regulated environment have not experienced the management practices of of big banks in USA. Banking in Canada is seen more as a service
industry and less of a commercial and investment rodeo.
Local banks rule – keep your money in your pocket!
Citigroup quintessential failed financial powerhouse.
As C goes, whither went the USA?
Banks, States, and Financial Crises
by Harold James
“Come on, world
and join hands
get on the love train,
love train!”
the O Jays
Glenn your right.
What an irony that taxpayers pay for burocrats’ income, pension, & pension-bailout.
And about job-creation… that’s why I posted the links under Rick’s “Press Conference Was a Breeze”-commentary:
[https://rickack.com/2009/02/press-conference-was-a-breeze/]
Because, IF unemployment rises as gov.spending rises, we’re in for some huge problems.
Most ‘austrians’ would *probably* understand these charts, and agree to some extent that gov.spending is destructive; …while the rest of the economic world, especially ‘keynesians’ play along whith their ‘causation vs correlation’ arguments.
It’s all about religion, time will tell…
I think your right on about any recovery being localized. Maybe, the big banks think globally, but it will be the small local and regional banks that will think locally and hopefully invest in our future not China’s or Vietnam’s. The BIG banks have to be honest lost faith in the rest of us. Who are the real patriots in America today? Is it the hedge fund mgrs. that sink their wealthy clients money into China or Indonesian sweat shops or Indian call centers, or is the local and regional American banks that to make money going forward will need to find local talent to rebuild our battered private economy. As for the public side of this the problem, we have to start asking ourselves honestly how we as a nation can continue to pay for the GOLD plated gov’t we have @ all levels these days? Also, how will we pay for these folks pensions and benefits? A quick look at the ex-Soviet experience might be instructive here.
The long and short of this whole crisis can be summed up in one word JOBS. Without strong JOB creation in the private side of the economy all the Gov’t stimulus and Gov’t subsidizes will amount to nothing. Nobody yet seems to know how to get there.