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151 [lbo-talk] The Battle of Cyprus (Ellen Brown) -- rank: 1000

On Mar 24, 2013, at 12:09 PM, Shane Mage <shmage at pipeline.com> wrote: > On Mar 24, 2013, at 11:15 AM, Doug Henwood wrote: >> On Mar 23, 2013, at 11:58 AM, Lew <wsm_mod at yahoo.co.uk> wrote: >>> Shane Mage wrote: >>>>> Doug Henwood wrote: >>>>> Banks know they need deposits, otherwise they have nothing to lend... >>>> Except that the deposit is *created* by the loan. >>> If this were true then no bank would ever ...

Document Size:	6782
Author:	Doug Henwood
Date:	Sun Mar 24 09:25:49 PDT 2013

152 [lbo-talk] The Battle of Cyprus (Ellen Brown) -- rank: 1000

On Mar 23, 2013, at 11:58 AM, Lew <wsm_mod at yahoo.co.uk> wrote: > Shane Mage wrote: >>> Doug Henwood wrote: > >>> Banks know they need deposits, otherwise they have nothing to lend... > >> Except that the deposit is *created* by the loan. > > If this were true then no bank would ever go bust or get into difficulty - they would simply create the necessary deposits by making loans. No kidding. Banks make loans and create deposits but then they have to ...

Document Size:	5388
Author:	Doug Henwood
Date:	Sun Mar 24 08:15:26 PDT 2013

153 [lbo-talk] The Battle of Cyprus (Ellen Brown) -- rank: 1000

On Mar 22, 2013, at 1:15 PM, Arthur Maisel <arthurmaisel at gmail.com> wrote: > But isn't a savings deposit the same sort of > liability to a bank as parts or raw materials are to a manufacturer? In > other words, a liability but one you can't do business without. I > understand that bankers might lose sight of this from their vantage on the > commanding heights, but can they escape it? (Maybe evading it is all they > need to do?) Banks know they need deposits, otherwise ...

Document Size:	5556
Author:	Doug Henwood
Date:	Fri Mar 22 11:36:41 PDT 2013

154 [lbo-talk] The Battle of Cyprus (Ellen Brown) -- rank: 1000

On Mar 22, 2013, at 12:35 PM, 123hop at comcast.net wrote: > You're right, it is basic accounting, but most people are not familiar with basic accounting and are not likely to view their assets from the point of view of the bank, to whom they are liabilities. I'm not talking about "most people," I'm talking about Ellen Brown, who is terrible.

Document Size:	5035
Author:	Doug Henwood
Date:	Fri Mar 22 09:39:35 PDT 2013

155 [lbo-talk] The Battle of Cyprus (Ellen Brown) -- rank: 1000

On Mar 22, 2013, at 11:52 AM, Mitchel Cohen <mitchelcohen at mindspring.com> wrote: > The deposit confiscation scheme has long been in the making. US depositors could be next . . . . Ellen Brown is a quack. No, U.S. depositors are not next. The under-100,000 deposit haircut is almost universally seen as a stupid disaster. For large deposits, though, it's not necessarily a bad idea. They're usually rich people or big institutions. Also: > Most people would be surprised to learn that ...

Document Size:	5563
Author:	Doug Henwood
Date:	Fri Mar 22 09:21:52 PDT 2013

156 [lbo-talk] New bishop of Rome -- rank: 1000

On Mar 13, 2013, at 4:29 PM, Carl G. Estabrook <galliher at illinois.edu> wrote: > In Argentina, I think that has to be read as support. Except there's this: What one did not hear from any senior member of the Argentine hierarchy was any expression of regret for the church's collaboration and in these crimes. The extent of the church's complicity in the dark deeds was excellentlyset out by Horacio Verbitsky, one of Argentina's most notable journalists, in his book El Silencio (Silence). ...

Document Size:	5930
Author:	Doug Henwood
Date:	Wed Mar 13 13:48:30 PDT 2013

157 [lbo-talk] New bishop of Rome -- rank: 1000

On Mar 13, 2013, at 4:06 PM, "Carl G. Estabrook" <galliher at illinois.edu> wrote: > "We live in the most unequal part of the world, which has grown the most yet reduced misery the least. The unjust distribution of goods persists, creating a situation of social sin that cries out to heaven and limits the possibilities of a fuller life for so many of our brothers." What about the "pink wave" across South America? They're doing decent work at reducing inequal ...

Document Size:	5060
Author:	Doug Henwood
Date:	Wed Mar 13 13:10:40 PDT 2013

158 [lbo-talk] Graeber -- rank: 1000

On Mar 13, 2013, at 10:32 AM, 123hop at comcast.net wrote: > Last time I was there, 2003, I thought it was incredibly depressing. The polarization of wealth was right in your face ALL the time. And London used to be my favorite city in the world. I was there in November 2003 and loved it. I'm pretty hardened to displays of polarization in First World cities.

Document Size:	4770
Author:	Doug Henwood
Date:	Wed Mar 13 07:41:23 PDT 2013

159 [lbo-talk] Graeber -- rank: 1000

On Mar 13, 2013, at 2:46 AM, "Chuck Grimes" <cagrimes42 at gmail.com> wrote: > Yeah, but he's got to go to England and live under the Queen and a bunch of rich snots. Living in London isn't exactly a season in hell.

Document Size:	4642
Author:	Doug Henwood
Date:	Wed Mar 13 07:05:48 PDT 2013

160 [lbo-talk] Graeber -- rank: 1000

I just learned on the Twitter that David Graeber got a professorship at the London School of Economics. He's not being persecuted for his beliefs anymore. Doug

Document Size:	4489
Author:	Doug Henwood
Date:	Tue Mar 12 19:32:26 PDT 2013

161 [lbo-talk] Current Crisis -- rank: 1000

On Mar 12, 2013, at 11:52 AM, "Carrol Cox" <cbcox at ilstu.edu> wrote: > Then would it be fair to say that from the perspective of capital there is > no recession or crisis? Absolutely. There are some sectoral exceptions - Walmart hasn't been doing so well because its customer base has been so badly hammered. But overall, capitalists are pretty happy. As long as things remain quiet on the political front, that is. Doug

Document Size:	4937
Author:	Doug Henwood
Date:	Tue Mar 12 09:11:38 PDT 2013

162 [lbo-talk] Current Crisis -- rank: 1000

On Mar 12, 2013, at 11:08 AM, Steve Bruns <sdbruns at telus.net> wrote: > "That is the missing ingredient from both the analysis of Sachs and his Keynesian opponents: profitability. The evidence that profits drive investment is now well documented. " > > and, > > "Recognise the close connection between past profitability and future expectations of profit on investment . . . . " > > and back to > > "And in my book,The Great Recession, eve ...

Document Size:	6038
Author:	Doug Henwood
Date:	Tue Mar 12 08:27:06 PDT 2013

163 [lbo-talk] What legal speciality handles this kind of problem -- rank: 1000

On Mar 11, 2013, at 8:32 PM, Gar Lipow <gar.lipow at gmail.com> wrote: > I think my Mother is being cheated on her reverse mortgage in the > sense they are cutting off draws long before she reaches her agreed on > limit "to cover future interest, fees and insurance". Clearly she > needs a lawyer. The question is what speciality and subspeciality. > Finding a good lawyer is tough any time, but really hard when you > don't what kind of lawyer. I'm guessing a sub-s ...

Document Size:	5849
Author:	Doug Henwood
Date:	Mon Mar 11 17:47:44 PDT 2013

164 [lbo-talk] left bus observer? -- rank: 1000

it has been a long long time - one is about to go out - I needed a sabbatical - rather burned out on the thing - hope I can recover my energy for it now

Document Size:	4655
Author:	Doug Henwood
Date:	Sun Mar 10 19:19:08 PDT 2013

165 [lbo-talk] Krugman bankrupt? -- rank: 1000

On Mar 8, 2013, at 10:53 AM, 123hop at comcast.net wrote: > Joke? > > http://dailycurrant.com/2013/03/06/paul-krugman-declares-personal-bankruptcy/ Yes! The Daily Currant is a parody site, but it seems to trick a lot of people.

Document Size:	4858
Author:	Doug Henwood
Date:	Fri Mar 8 08:05:14 PST 2013