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irniger, I asked you what you thought the relative growth prospects were. You sent me an EU study of historic growth and projection using Per Captia GDP adjusted for purchasing power parity. Do you think that is a good way to measure growth? Do you think the regular GDP is a good...

ZH got it from Reuters which did a comprehensive analysis of the issue that makes sense. As you say, we will have to wait and see what roll is played by rehypothecation...not too long though. With regard to the strategies floated...I think it is already settled...we are having an austerity...

So, another month has gone by on the Humpty Dumpty at the Summit project and still the egg is broken. It is tortuous to see so many tragically educated bureaucrats and pundits continue to scheme on how they can solve an insolvent debt problem by applying more debt. The simply obvious truth...

How would you discount the prospect for future U.S. growth against the prospect for future EU growth?

The issue is solvency and that is what shows up in the failed Auction. Its a matter of record that the U.S. can have a bad auction. We just saw Germany have a bad auction. You could say that the bund auction underpins the 'reserve currency' of the Euro within the EMU currency zone. From a...

Misterno I appreciate your thoughts; we disagree. If the U.S. cannot sell its bonds to private individuals and foreign buyers at auction, it will not matter that the U.S. dollar is reserved currency...it will lose its utility as reserve currency and as domestic currency at the same time...

Misterno, your last post is a profound example of a person talking to himself while in public. The question that occurs to me is why bother to post it on a site that involves interaction and argument between people? I will assert again for comment...the limit to printing money with...

Great comment from FT, intelligent but not exactly right. Misterno, the smear against prior comments being 'microeconomic' details is just plain wrong. Wages, Wealth, Assets and the rest are obviously 'macroeconomic' details. If you pretend to superior attitude and vitriol we have a right...

Average income is not a good indicator because there is too much noise in number. I don't want to discuss how to make a better average number by reducing to only employees and then looking at different skill groups because in the end it will only tell you about labor and nothing about wealth...

Oldtime, I understand anti-matter. Anti-logic is not anti-matter. The term 'anti-matter' is an accepted and defined term in discourse that describes a real physical substance or phenomenon, but that is a matter for a different thread, or 'string' if you will. In contrast your made up term...

Oldtime, I didn't write anything that could objectively be interpreted to mean that I didn't care about your fictional, only partly articulated and defined 'person' in NJ who you made up for argument sake. I suggested that your argument was disjointed and the connection you appeared to be...

Oldtime et. al., 'net worth' is not different from aggregate real assets. Net worth is an individual notion that is the sum of possessory rights to real assets controlled by an individual. 'Buying Power' is the leverage ratio of net worth. Real aggregate assets, net worth and buying power are...

Everybody who works for the rating agencies is Keynesian trained. All they teach at the most selective universities is Keynesian economics. So, yes it influence their decisions, because they all accept the demand paradigm and veiw economic performance through a demand paradigm with reference...

Free Thinker and Denner, on the issue of 'growth', I watched that youtube video of the Tampa malinvestment and read your comments but I don't agree with your comments about what it means. Real growth is an increase in aggregate assets. Real assets are characterised by the possessory right...

I made my point clear Mghoul...you don't agree. OK. I believe I was clear about what I was saying using 'Investment/GDP'. You understand what I am saying but you like other jargon 'Capital Formation/GDP.' Well that's fine, you can communicate your way. If you think Monti has a credible...

I didn't misunderstand, printing money won't work, it will do more harm than good, it will remove the possibility of real growth...so it could not buy time...and really for what? There have been very detailed schemes to provide more debt...in order to buy time...but there has been no...

No, printing press wont work it would destroy the Euro and the common area economies just the same. It is the same as default but worse. I said the GDP was a lousy growth metric and I see you don't understand that becuase you assume you can raise GDP through monetary inflation and demand...

With appologies to Humpty Dumpty, 'All the Burgomasters in Brussels and all the Burgomasters Technocrat men could't put a debt bandaid on all that debt again.' The debt egg is broken. You cannot solve a debt problem with debt; it requires income. That is an unexcapable truth...

The debt service cost on thier accrued debt increased dramatically as they roll over debt...even at the planned subsidized rates. They can't reduce 'burn' at rates above 5% even if the planned 'austerity' is implemented. At the same time the chaos destroys tourism income and interrupts even...

OK, I acknowledge that you have understanding, even if that is not immediately clear in the way you write. Still your perjorative use of 'shananigans' and the implied manipulation in comment is not justified. Margins should be increased on Italian Debt and its derivatives. As far as public...