Re: The Hong Kong peg?

[James Devine <jdevine@xxxxxxxxxxxxxxx>]

Tom Walker wrote:

>Erdman's logic sounds convincing. Can anybody explain why Erdman's scenario
>_won't_ happen or how the global money fixers will smooth it over if it does?
>
>Financial columnist Paul Erdman wrote....

Doug replies: >It could happen that way for sure. But Erdman has predicted
3 out of the
last 0 depressions.<

Sounds like a lot of lefty economists I know.

It should be noticed that Erdman's CRASH OF 1979 has some interesting
political economy even though it turned out to be inaccurate in practice.
He's one of the few writers of economic science fiction. Some of it might
be good for use in teaching (though it's quite sexist, at least what I've
read).

He's also a leader in the anti-Swiss movement which is currently so
popular. He's anti-Swiss mostly because they threw him into jail for what
he considers to be normal banking behavior.

in pen-l solidarity,




Jim Devine   jdevine@xxxxxxxxxxxxxxx &
http://clawww.lmu.edu/1997F/ECON/jdevine.html
"The only trouble with capitalism is capitalists. They're too damned greedy."
-- Herbert Hoover