tag:blogger.com,1999:blog-5713178645208582139.post6634797348333371746..comments2024-03-22T02:37:15.030-05:00Comments on Macro Musings Blog: About the Texas Economy...David Beckworthhttp://www.blogger.com/profile/04577612979801459194noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5713178645208582139.post-39967635034353537952011-01-11T19:51:20.583-06:002011-01-11T19:51:20.583-06:00Dr. Beckworth, that kind of wishful thinking is a ...Dr. Beckworth, that kind of wishful thinking is a pipe dream...at least for Americans, and probably for the emerging world too.<br /><br />Let's see...the Fed has put nearly two trillion dollars into the banks...meanwhile, the real asset our world runs on,oil,is rapidly dwindling.<br /><br />Fewer real assets...more money...this is a simple equation. Put that in your pipe and smoke it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-13847456420659258662011-01-11T16:43:13.679-06:002011-01-11T16:43:13.679-06:00ECB,
I may be guilty of not appreciating the broa...ECB,<br /><br />I may be guilty of not appreciating the broader structural context that drove the Fed to do what it did in 2003-2006. That is why I am fortunate to have commentators like you who keep me honest. You have challenged and/or corrected me a number of time and I appreciate all of them. Keep 'em coming.<br /><br />Since we on the topic of broad structural trends, I don't David Beckworthhttps://www.blogger.com/profile/04577612979801459194noreply@blogger.comtag:blogger.com,1999:blog-5713178645208582139.post-80038782716496287432011-01-11T16:31:07.333-06:002011-01-11T16:31:07.333-06:00David, I recommend you take a gander at Nasseem Ta...David, I recommend you take a gander at Nasseem Taleb's "Fooled by Randomness". Luck plays an awful big role in things. Texas got relatively lucky this time. It was a basket case in the 1980s. And it is relative. Things are far from rosy even in the Emerald City of Austin.<br />Do not be deceived. America is in structural decline; once we take that on board, we begin to understand ecbnoreply@blogger.com