Mapping the global water trade

hornytoad69 · 3 days

Look at our beer! It's cold AND you can drink it really fast!

Barkul · 24 days

Better than Arsenal last season from essentially the same position :]

soberlook · 1 month

There are policy steps to avoid a nasty recession spillover from external sources. Poland for example, has largely avoided the majority of the contagion from the eurozone by using monetary policy to increase domestic demand even as exports declined.

SirHerpOfDerp · 1 month

I would recommend not living in Stony, that is a terrible walk during the winter time with the wind coming off the lake. Remember though that even if you do receive a double and don't like your roommate you can always request a room change with relatively little hassle.

MrMachiavelli · 1 month

The overlooked thing in this thread so far is the increased efficiency that replacing the welfare state with a negative income tax provides. To help to reduce the problems associated with disincentives to work, Friedman also suggested that the NIT be progressive instead of a lump sum type payment. Israel has implemented a NIT with good results.

besttrousers · 1 month

The argument is that a shared reduction in real wages by increasing the inflation rate is more effective in maintaining full employment because nominal wages have a zero lower bound.

herminione · 1 month

Yes, thanks to monetary policy mistakes.

1) Milton Friedman and Anna Schwartz in their famous Monetary History highlighted the fact that the Federal Reserve’s decision to increase reserve requirements starting in July 1936 was what caused the recession of 1937.

2) Douglas Irwin has – in an excellent working paper from last year – claimed that it was not the Fed, but rather the US Treasury that caused the the recession as the Treasury moved aggressively to sterilize gold inflows into the US and thereby caused the US money supply to drop.

Timofmars · 1 month

Ugg this is bad journalism.

This boom in housing demand propped up consumption in the economy. But of course, this level of consumption wasn't backed up by enough personal income to be sustainable and would lead to a severe economic crash.

When you actually look at the housing data:

Jan. 2006: starts = 2,303,000, completions = 2,058,000, average = 2,180,000, U-rate = 4.7%

April 2008: starts = 1,008,000, completions =1,014,000, average = 1,011,000, U-rate = 4.9%

October 2009: starts = 527,000, completions = 745,000, average = 636,000. U-rate = 10.1%

We had the greatest contraction in housing construction in the history of the country from the beginning of 06 to mid 2008 with a negligible impact on the unemployment rate. How does that imply that we suddenly enter a recession in late 2008 when the majority of the downfall in housing construction has already happened?

happy_jihad · 1 month

On my mobile but can't see your resume link. Just a photo of a locked box

EquanimousMind · 1 month

Cheers thanks

EquanimousMind · 1 month

We have been reducing spending at a faster rate rate than the U.K., first U.K. final govt consumption expenditure and now US final govt expenditure. Looks like you need another explanation.

Edit: Thanks Eriden, U.K's final govt expenditure is actually still growing year over year albeit at a slower pace.

besttrousers · 1 month

Japan has continually expanded the money supply since the early 1990's and had deflation in the same time period. Time for a new model.

Fittyakaferrari · 1 month

Then, once the crash happened, the devalued their currency and boosted domestic demand through fiscal spending.

Hmm, the author is arguing that devaluation through monetary policy boosted domestic spending even while exports decreased, which is not the typical devaluation being used to boost exports argument. Gov't fiscal spending appears to have little impact in this narrative.

Fittyakaferrari

TROPHY CASE

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