Comments on: Mark Carney abandons Thatcher-era supply-side policy http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/ Sat, 03 Jan 2015 16:42:55 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Pete_Murphy http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1087 Sat, 10 Aug 2013 10:53:35 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1087 Perhaps in another 30 years or so economists will come to the realization that they are powerless to counter-act the inverse relationship between population density and per capita consumption, and that worsening unemployment is inescapable as long as increasing overpopulation erodes per capita consumption.

Pete Murphy
Author, “Five Short Blasts”

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By: amateurediteur http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1086 Sat, 10 Aug 2013 02:00:51 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1086 The Bank of England doesn’t have a dual mandate, like the Fed. It is tasked only with maintaining sound money and doesn’t have to concern itself with full employment. This is not a matter of policy preferences or supply side economics – it has to do with the basic role of the institution. Mr. Carney’s should read the charter of his new employer before making any more pronouncements.

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By: amateurediteur http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1085 Sat, 10 Aug 2013 02:00:45 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1085 The Bank of England doesn’t have a dual mandate, like the Fed. It is tasked only with maintaining sound money and doesn’t have to concern itself with full employment. This is not a matter of policy preferences or supply side economics – it has to do with the basic role of the institution. Mr. Carney’s should read the charter of his new employer before making any more pronouncements.

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By: ErnestPayne http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1084 Sat, 10 Aug 2013 00:25:34 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1084 Ding Dong The Witch is, indeed, dead and a Canadian drove the stake through the monetary policy.

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By: BidnisMan http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1083 Fri, 09 Aug 2013 21:34:26 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1083 This article simply ignores reality. You cannot print your way to prosperity. Printed money is given to banks. The banks loan it to the 1% who let virtually nothing trickle down as minimum wages while the rest get gambled on derivatives with proceeds stashed in tax havens, and the losses get bailed out by more printing. The whole fiat money system is flawed and Carney is just an iteration of this, representing no real change at all. Let interest rates float on the market and ban fractional lending thus fixing money supply – then we will see a return to prosperity for the 99%.

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By: ptiffany http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1082 Fri, 09 Aug 2013 18:36:34 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1082 The Truly Entitled:
It’s interesting that the “people who gamble with the money…” are mostly the Plutocracy, the One Percenters. Those among the 99% generally are invested in vehicles like 401(ks) and are certainly not gambling and want relatively predictable, but modest returns to support their retirement.

The wealthy gamblers who are enabled by the Wall Street Casinos expect high returns and full coverage for their gambling losses using taxpayer funds. They caused the now six-year-old depression (see Nobel Laureate in Economics Paul Krugman’s book, “How to End the Depression”) through the mortgage-backed toxic financial derivatives backed by vapor. Regulation has fallen further behind as the too-big-to-fail “federally regulated banks” (Goldman Sachs is a bank?) moan about the potential regulations resulting from the two-year-old Dud-Frank Bill that has no possibility of enforcement since there are no appropriations to create the necessary enforcement apparatus. So,
The PLUTOCRACY RULES !
“Let the Pee-Ons, the 99%, eat cake!”

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By: kengprice http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1081 Fri, 09 Aug 2013 18:33:22 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1081 Finely, an admission that the tinkle down theory of economics does not work.
Robertla, thank you for you insightful posting the this story.

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By: Robertla http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1080 Fri, 09 Aug 2013 12:54:14 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1080 ….it worked for Bernanke…..

‘we’ll continue printing UNTIL unemployment comes down’

let me translate….from the disinformation central bankers are known for…..it should read:

‘we’ll enable feckless speculation. asset bubbles, and a return to a feudal economy based on lords and serfs……and if somebody creates jobs for the masses, oh, maybe we’ll stop printing money…… or maybe we won’t.’

policies that result in excess liquidity, result in misallocation……people gamble with the money……and expect a bailout, if they lose.

asset prices rise……..further impoverishment for people who can’t afford assets.

easy money does not create jobs, it enables investment in capital intensive technologies that replace jobs.

Facebook cannot feed the world.

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By: vkbaxi http://blogs.reuters.com/anatole-kaletsky/2013/08/08/mark-carney-abandons-thatcher-era-supply-side-policy/#comment-1079 Fri, 09 Aug 2013 12:51:27 +0000 http://blogs.reuters.com/anatole-kaletsky/?p=472#comment-1079 I must say I don’t share your sanguinity about low likelihood of any one of the three caveats set by Mr Carney (especially inflation) being triggered well before 2016. I think if people don’t catch this risk they will end up being more complacent about interest rate tightening than they should be! That could recreate some of the issues we experienced, albeit on a smaller scale, when debt overhang caused housing market and consumption to take the hit, with consequent effect on banking and the economy again!

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