(Who loves Tokyo more than New York, London, and Paris?)WHY DID THEY NEED ECONOMICS?
There are no coins and bills in this world that can suffice for dealers and brokers who would claim that they need $605 trillions at hand rather than in computers.
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Bloomberg
Derivatives Reform Would Have Dissuaded Greece, Gensler Says
March 02, 2010, 1:11 PM EST
By Dawn Kopecki
March 2 (Bloomberg) -- Greece would have been dissuaded from using swaps to obscure the country’s deficit if the $605 trillion derivatives industry were properly regulated, U.S. Commodity Futures Trading Commission Chairman Gary Gensler said...
Gensler is gearing up for a fight in the Senate, where lawmakers are working to come up with legislation this week reining in the $605 trillion over-the-counter market.
http://www.businessweek.com/news/2010-03-02/derivatives-reform-would-have-dissuaded-greece-gensler-says.html
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As the U.S. annual federal budget is only $3.5 trillions, just an accrual of interest at 0.6% of the $605 trillion derivatives can cover the whole expenses of the U.S. Government. Probably, dividend on interest at 3% would cover the whole global governmental expenses.
This is one end where economics disappears.
SECTION I: Status Of The UK
American elites think Japan's anti-American Prime Minister Mr. Yukio Hatoyama will lose face sooner or later.
But, it is UK P.M. Mr. Brown that has lost face first. And, President Mr. Barack Obama gladly called new U.K. P.M. Mr. Cameron as the prime minister is younger than the president.
The truth of the United Kingdom is as follows in terms of an unemployment rate and an (3-month) average wage change year on year:
(http://www.jri.co.jp/MediaLibrary/file/report/ber/pdf/4744.pdf )
In short, you can see a pattern here which is a kind of similar to the one in the U.S. which indicated inevitability of the realization of President Mr. Barack Obama, that is a "change!"
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The UK, with gross debt of 72.9% of GDP and a deficit likely to reach 12.6% this year, the largest in the European Union, has no such capacity – and only the IMF to turn to for a bailout.
As Moody's points out in a new report, what makes the UK so vulnerable to a sovereign debt crisis is the weakness of its banking system. Including private and public sector debt, the UK is one of the most leveraged countries in the world of debt equivalent to [400%] of GDP and a banking system still highly dependent on wholesale funding.
http://online.wsj.com/article/SB10001424052748704370704575228493522274272.html?mod=WSJ_latestheadlines
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Now, many British citizens poor and rich are trying to get out of the Great Britain, either to avoid future higher taxation or to find jobs.
The Anti-Japanese Financial Times has recently laughed at Japan, saying "Ask China for financial help!"
The Anti-Japanese Financial Times has to now laugh at the U.K. or itself, saying "Ask China for financial help!"
SECTION II: Marx and Keynes
In 1971, a Japanese businessman visited the Soviet Union. While sitting on a seat in a bus during a tour, he found that a landscape looked askew through a windshield. He realized that the windshield was not uniformly thick; it had no uniform thickness. As filling one's quota was the most important thing in the communist society, such defective products were widely circulated in the Soviet Union, while Japan came to be more respected even by American consumers for high quality of Japanese products.
But, it took 20 years, since then, for the Soviet Union to totally collapse.
But, why has not the capitalism world fallen and developed into the socialist society, as predicted theoretically by Karl Marx?
It is because Karl Marx thought that citizens should be categorized effectively into the capitalists and the laborers, while there are other type of citizens like Americans and Japanese.
It is not a matter of economics but underlying or superior issues concerning the nature, environments, culture, religion, and history that decide the fate of a human society.
However, some people who learnt Keynes would say that it is because democracy forced governments in the world to continue public investments without interruption year after year, while Keynes recommended only temporary execution of public investments. A government in a democratic society needs a majority of votes from citizens, who never vote for ruling parties if put into unemployment, so that public investments cannot be stopped regardless a debt-ridden financial state of the government.
Consequently, the capitalism world has however survived so far to date, owing to great innovation in technology directly linked with production and productivity and continuous growth in demands.
But, as you see, the greatest financial crisis of the century has occurred every three years nowadays, which implies that this sort of capitalism might be finished, say, in 20 years.
By the way, do you think that Keynes really despised Marx? If so, his reference to Karl Marx is too little.
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Keynes and Marx — Keynes is totally dismissive of Marx; in the GT there are three brief very negative references to Marx...
page 355; I believe the that future will learn more from the spirit of Gesell than from that of Marx...
http://people.ucsc.edu/~nuclear/econ189/lectures/keynes.htm )
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From Gesell, you have to advance to the non-money economics before the Kingdom of God.
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If you are now rich enough to view this blog.
It is time to make up your mind to live an equivalent life to that lived by those who lost it in Sumatra, Sichuan, Haiti, Chile, and Quinhai.
Living such a life equivalent to that of a poor victim is the only way to justify your living now.
But, how can it be measured as being equivalent? This question requires theology but not economics, though we have still only the Bibles and the Koran in addition to Buddhist scriptures.
The basic idea of this EEE-Reporter Project is related to the above notion.
Accordingly, I do not even ask you to pay a tithe to this blog. It is free. Yes, what is free has another price tag you cannot read until enough time goes by. In principle, as long as I can pay the price put on the hidden price tag of EEE-Reporter, this goes on. In short, it depends on how rich I am, to our surprise.
(Arabesque No.1:
http://www.midiworld.com/midis/other/c1/arabesqu.mid
Source: http://www.midiworld.com/classic.htm
Not to suffer from a nightmare...)
Mat 5:11 Blessed are ye, when men shall revile you, and persecute you, and shall say all manner of evil against you falsely, for my sake.
Mat 5:12 Rejoice, and be exceeding glad: for great is your reward in heaven: for so persecuted they the prophets which were before you.