tag:blogger.com,1999:blog-5713178645208582139.post9150221010151442896..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: The Merkelian ReichDavid Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-5713178645208582139.post-23184803418313010932011-12-24T06:09:28.784-06:002011-12-24T06:09:28.784-06:00Well, how we have all seen the "fiscal union&...Well, how we have all seen the "fiscal union" was just a bluff, there has not been any federal reform agreement at all and what has been proposed is just a ratification of the present power balance (which of course isn't balanced at all...).Anonymoushttps://www.blogger.com/profile/14377623855540455028noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-16743931336296556752011-12-08T14:48:11.246-06:002011-12-08T14:48:11.246-06:00sorry for the typos. wrote from a smartphone ... a...sorry for the typos. wrote from a smartphone ... and was evidently shocked by the your post.arash molavinoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-22926871069857713032011-12-08T13:45:35.390-06:002011-12-08T13:45:35.390-06:00Good god! You guys are really going to far! May I ...Good god! You guys are really going to far! May I remind you that the US is quite aggressive when its interests are involved? And that it always were the French who wished for a fiscal union? And that until recently Germany was opposed to it? And that most Germabs are still opposef to it? To come up with the Reich-thing is just cheap.arash molavinoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-4643586628533415192011-12-07T11:06:45.383-06:002011-12-07T11:06:45.383-06:00Time for Market Monetarists develop a concrete pla...Time for Market Monetarists develop a concrete plan of action, such as the Fed buying $100 billion a month in bonds/securities not to a dollar target, but to a NGDP goal. Also wipe out IOR. <br /><br />By speaking in abstractions, we allow the John Taylors of the world to argue back in abstractions, and the argument becomes wonderfully esoteric.<br /><br />Develop a concrete plan of action, and Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-3210502820150954812011-12-04T16:43:13.143-06:002011-12-04T16:43:13.143-06:00The EU crisis is neither monetary nor fiscal. It i...The EU crisis is neither monetary nor fiscal. It is a democratic crisis as perceptively argued by AShwin on his blog, see http://www.macroresilience.com/2011/06/29/the-democratic-deficit-in-europe-and-the-crisis-in-the-periphery/<br /><br />btw, Ashwin's blog is by streets lengths the best econ blog on the internet. just brilliant.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-85120367262267089852011-12-04T13:47:57.437-06:002011-12-04T13:47:57.437-06:00I wonder if ever a nation should give up control o...I wonder if ever a nation should give up control of its own currency printing press.<br /><br />Having the press is part and parcel of a sovereign. It goes comfort to citizens and bondholders. <br /><br />There are times when monetary authorities need to juice the action, or deleverage through inflation and growth, and having press helps in that.<br /><br />There are some items more important Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-8978925599790148522011-12-03T05:10:41.733-06:002011-12-03T05:10:41.733-06:00I agree with Edwin. My suspicion is that Draghi r...I agree with Edwin. My suspicion is that Draghi really wants the ECB to give some ground ( http://reservedplace.blogspot.com/2011/11/easing-in.html ), but he needs some contrite gesture from the politicians to convince the governing council to go along with him. Note that the intention is that the ECB will act IMMEDIATELY, whereas the fiscal framework is more about avoiding a repetition of the RebelEconomisthttps://www.blogger.com/profile/13241098878248190971noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-73423278507043876372011-12-02T18:34:41.798-06:002011-12-02T18:34:41.798-06:00I don't see how the evidence supports the conc...I don't see how the evidence supports the conclusion here, at all: If the "path" is flawed, why exactly should we be resigned to power plays shaping the EU? That, at the very least, isn't the shape a politically legitimate institutional structure would have, and I think that proponents of this move are much too optimistic about fiscal union.<br /><br />Instead of moving to Edwin Herdmanhttps://www.blogger.com/profile/05040978095707760636noreply@blogger.com