Comments on: 9/14 http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/ The source on how we live, work and play Wed, 07 Dec 2011 18:10:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: hayden fisher http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/comment-page-1/#comment-5734 hayden fisher Tue, 16 Sep 2008 18:32:31 +0000 http://www.creativeclass.com/_v3/creative_class/?p=3298#comment-5734 I agree that we'll manage our way out of this mess and a new financial nerve center will begin to emerge. Hamiltonian federalism will make a come-back. Government can be an enormous difference-maker in the area of national finance (and should be). The Lehman example shows that the Fed will not bail-out everyone. There's a strategic approach to this and each bail-out comes with strings attached and a fair degree of control being left in the hands of the regulators. Wall Street might look very different at the end of this and that could be good news for Main Street; and especially boutique firms. Government sponsored economic development (lending, not spending) is the key to our future prosperity and it should be occurring beyond the local level and outside of the colleges and universities. Taking quasi-governmental control of the top tier of the financial system is a big first step. Entrepreneurship would soar if the federal government seeded it. The capital used to prop-up these banks after their CEO's and executives have walked with much of the loot should be available to stoke the dreams and ideas of tomorrow's new business creators the next time. I agree that we’ll manage our way out of this mess and a new financial nerve center will begin to emerge. Hamiltonian federalism will make a come-back. Government can be an enormous difference-maker in the area of national finance (and should be). The Lehman example shows that the Fed will not bail-out everyone. There’s a strategic approach to this and each bail-out comes with strings attached and a fair degree of control being left in the hands of the regulators. Wall Street might look very different at the end of this and that could be good news for Main Street; and especially boutique firms. Government sponsored economic development (lending, not spending) is the key to our future prosperity and it should be occurring beyond the local level and outside of the colleges and universities. Taking quasi-governmental control of the top tier of the financial system is a big first step. Entrepreneurship would soar if the federal government seeded it. The capital used to prop-up these banks after their CEO’s and executives have walked with much of the loot should be available to stoke the dreams and ideas of tomorrow’s new business creators the next time.

]]> By: Robert http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/comment-page-1/#comment-5719 Robert Tue, 16 Sep 2008 09:46:39 +0000 http://www.creativeclass.com/_v3/creative_class/?p=3298#comment-5719 "...we will once again manage our way out of this one:..." Well I think you can only manage/manipulate the economic system so much. For example, the dollar is being propped up and gold is being kept down by use of derivatives from central banks according to one article I read "The Great Dollar Pump of 2008: A Doomed Central Bank Intervention" by: James Conrad on Seeking Alpha. This is causing a break between the physical market for gold/silver and the paper market. Thus, gold is being bought for much more over the spot price for gold by many gold dealers because people are refusing to sell their gold for such a low spot price. Since gold/silver are precious metals and are in limited supply unlike paper gold futures contracts, eventually there will be a collapse in the paper gold market since no one would trust the spot price of gold/silver any more as an accurate gauge of the current value of gold/silver. “…we will once again manage our way out of this one:…”

Well I think you can only manage/manipulate the economic system so much. For example, the dollar is being propped up and gold is being kept down by use of derivatives from central banks according to one article I read “The Great Dollar Pump of 2008: A Doomed Central Bank Intervention” by: James Conrad on Seeking Alpha.

This is causing a break between the physical market for gold/silver and the paper market. Thus, gold is being bought for much more over the spot price for gold by many gold dealers because people are refusing to sell their gold for such a low spot price. Since gold/silver are precious metals and are in limited supply unlike paper gold futures contracts, eventually there will be a collapse in the paper gold market since no one would trust the spot price of gold/silver any more as an accurate gauge of the current value of gold/silver.

]]> By: Mark Samber http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/comment-page-1/#comment-5713 Mark Samber Tue, 16 Sep 2008 03:59:22 +0000 http://www.creativeclass.com/_v3/creative_class/?p=3298#comment-5713 I am not one to seek the spotlight or brag, but I predicted this 13 years ago. During the height of the "go go 90s" I exhorted the NY Times readership that Congress and then-Treasury Secretary Rubin were playing with fire. Well...read for yourselves. http://query.nytimes.com/gst/fullpage.html?res=990CE0D7123DF936A35750C0A963958260&scp=1&sq=Mark%20Samber&st=cse Too bad nobody in politics or the media pays attention to History--they could benefit from a real history lesson or two. Maybe we wouldn't be in this colossal mess. Richard, hope you're well. Mark I am not one to seek the spotlight or brag, but I predicted this 13 years ago. During the height of the “go go 90s” I exhorted the NY Times readership that Congress and then-Treasury Secretary Rubin were playing with fire. Well…read for yourselves.

http://query.nytimes.com/gst/fullpage.html?res=990CE0D7123DF936A35750C0A963958260&scp=1&sq=Mark%20Samber&st=cse

Too bad nobody in politics or the media pays attention to History–they could benefit from a real history lesson or two. Maybe we wouldn’t be in this colossal mess.

Richard, hope you’re well.

Mark

]]> By: Michael Wells http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/comment-page-1/#comment-5712 Michael Wells Tue, 16 Sep 2008 01:10:50 +0000 http://www.creativeclass.com/_v3/creative_class/?p=3298#comment-5712 I can't predict where the market will head, but a couple of observations. During the Clinton administration the Dow tripled from around 3,500 to around 10,000. During Bush it's been basically flat and may end up having lost value over 8 years. This from a supposedly "pro-business" administration. The financial mess is one of the of the results of the massive deregulation since the late 1970's. Banks, Savings & Loans, Electricity, Airlines, Phone Companies -- in every case, service to the customer, the average American, has deteriorated. And in every case I'd say the industry has suffered, and most have had severe scandals, airlines being an exception. In all cases the regulation probably needed to be adapted for the late 20th and early 21st century, but the total abandonment of oversight has put us behind most of the developed world. I can’t predict where the market will head, but a couple of observations.

During the Clinton administration the Dow tripled from around 3,500 to around 10,000. During Bush it’s been basically flat and may end up having lost value over 8 years. This from a supposedly “pro-business” administration.

The financial mess is one of the of the results of the massive deregulation since the late 1970’s. Banks, Savings & Loans, Electricity, Airlines, Phone Companies — in every case, service to the customer, the average American, has deteriorated. And in every case I’d say the industry has suffered, and most have had severe scandals, airlines being an exception. In all cases the regulation probably needed to be adapted for the late 20th and early 21st century, but the total abandonment of oversight has put us behind most of the developed world.

]]> By: AC http://www.creativeclass.com/_v3/creative_class/2008/09/15/914/comment-page-1/#comment-5711 AC Tue, 16 Sep 2008 01:10:47 +0000 http://www.creativeclass.com/_v3/creative_class/?p=3298#comment-5711 Your dissertation sounds interesting. Have you ever thought about uploading uploading it? Your dissertation sounds interesting. Have you ever thought about uploading uploading it?

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