Search found 14 matches: romer

Searched query: romer

by aeden
Wed Jan 19, 2022 6:58 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

Deflation helps the broken unlike Burn Loot Murder did to Bob Bish so it is not going to happen with lie cheat steal schroomers spewing stupid as Cotton read back to the cherful idiots dolts on the floor. Now the crayon chewers like finger nails on a chalk boards screech muh vote. When the consumer rejects the current price structure get back to us actual producers that trade above the margin. As one contractor put it we charge liberals 300 percent over and they are to stupid to even own a hammer for the each to their own cultists.
Homeless junkies condo was 587K per head plus in Kommifornia funded by idiots. When the canning lids that screwed on went verticle way back then they only allowed x out the door and the whare house looked like the India Jones storage vault. Americans are useful idiots and Inflation is policy since the Romer papers. Sismondi coined the term proletariat, from the class of proletarii (from proles, Latin from offspring) the lowest class in ancient Rome. To give one more sample of Sismondi's perceptiveness: he pointed out that the combination of capital and labor under existing conditions increased the value of each and produced a mieux-valeur. This is close to the Mehrwert by which Marx demonstrated that labor was exploited. Sismondi's critique of political economy dates from 1818, the year of Marx's birth.
Sections of America are dead not dying.

The bourgeoisie will remember my carbuncles until their dying day, Marx told Engels in a letter from 1867.

https://www.revolver.news/2021/12/damni ... january-6/
by aeden
Sun Dec 19, 2021 11:17 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

The old world order knows what is coming also. They also know it does not include them.
We seen this before long ago but we have a new wrinkle on supply chains given the trade lines to south east asia.
For those paying attention to the H.8 as we did early and the swap lines during the lock ups of the swaps
you can see where we actually are.
The true nature of the market and the misnomer of how money is even created still amuses a few.
Yes you are correct on this next market pivot upcoming and the balance sheet H as seen.
Example here: https://www.xe.com/currencycharts/?from ... RY&view=1W

The reference - Around our LME observations...

The current only thinking Democrats knows whats coming since the wasting was a feature now generating what consumers cannot do which is think.

How to generate severe stagflation in the years 2010 through 2019 right on que thanks Washington provided below. Sun Jun 21, 2009 8:29 pm
The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president's Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3."
In the same vein: This is from Professor Fisher's book entitled 100% Money, revised edition
published by The Adelphi Company (1936)
It was the Velvet rope period well underway from the cluster study white paper we unbraided here then.
H was instructive some key elements also as was a few more also. T

Zone issues like Politics are no accident since FDR.
(1 + i) = (1 + r) (1 + π) fisher

As we noted they are lucky it did not catch fire earlier. As Feidman said plainly and basically
what greed do all Governments not understand that they did not produce.

thread: Rule 2a-7

https://www.youtube.com/watch?v=BfrUQA2tb6M
by aeden
Sat Dec 11, 2021 6:49 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

They have convinced people they have value to forward. They do not since you started importing food and now fiat slaves for a
polit system that produces even less with even more worth less values. By year end we will have closed our 100 day window.
Inflation is your problem as you hand off an economy based in decrepid algoed minds. Go ahead blame whom ever and whatever you see in
the mirror into the next decade. Real inflation in a basket of goods you do not and are not even going to produce.
That moral vaccum has a cost basis.

...their strategy is to start as many new projects as possible and then build public support around them." DEC 10, AT 11:56 AM

The 41st Congress committed treason by illegally abandoning the Republic to form a corporation managed by the three branches of government from the incorporated District of Columbia. The Congress had no Constitutional authority to do so. It essentially used the same Constitution of 1789 and by changing one word in the title it in effect created a new legal document that became the corporate constitution for THE UNITED STATES, Inc.

Your true charter has run out with the owner of the gerden. Lie cheat steal burn loot murder is not a plan. It is a feature of rot.
You scoff at the term grain colony pretending you made it to civilization. All we seen was Bob Bish looted from thier own also
ignoring the diseased minds that put them there and elicited as response in support.

Sismondi was right about the level of regards of the circles.

Sismondi coined the term proletariat, from the class of proletarii (from proles, Latin from offspring) the lowest class in ancient Rome. To give one more sample of Sismondi's perceptiveness: he pointed out that the combination of capital and labor under existing conditions increased the value of each and produced a mieux-valeur. This is close to the Mehrwert by which Marx demonstrated that labor was exploited. Sismondi's critique of political economy dates from 1818, the year of Marx's birth.

The bourgeoisie will remember my carbuncles until their dying day, Marx told Engels in a letter from 1867.
https://www.zerohedge.com/political/doz ... -left-2021
The analysis we utilized is from the 1840 to 1884 intellectual pivot point from the Pari café liberals Sismondi mentioned also.
As it was written the mark of the of Beast composite overlay with Amos and Daniel.
Hobsons choice in a Overton window for them.
The Fig tree or two olive Trees for the ones paying attention.
More did not.

For some who can jump the pond to effects consider what Brezhnev did to Khrushchev to take power and how.
Plain site into the Andropov solution then and what was adapted. These facts are self evident to the the upper and lower criticisms
seen as such.

They kicked the door off the hinges and now convey close the door.

Sun Jun 21, 2009 8:29 pm
The wage arbiters started in 1987 locally on these effects. For our cluster group it was 1979 as sticky wages was still ignored.
Clueless is a condition. Only query was fair trade not free as Romer and cults subsidized out tax capital flows. As we noted your decades late to intent.

You have been lied to all your lives.
You also missed the irony of you can keep your Doctor also.

thread: amos, bantu, kadesh, Sogo Shosha, taproot
pretext: viewtopic.php?p=9203#p9203

https://www.youtube.com/watch?v=diTmxxmSf1Q
by aeden
Fri Jul 30, 2021 2:06 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

Posted Human Action Book.
https://mises.org/library/human-action-0
My wife the college graduate student tutor was glassy eyed for weeks
trying to understand a reality from the insidious deception of the demented academia walking through the
institution locally also. A journey of failure unleashed on the American Sheep.
What Sismondi conveyed as the earliest French Resistance Theories as the Role of the Burgundian Court
barely surviving the war and the distorted café intelligentsia period even Acton and Hume unbraided.
I enjoyed Minsky's works to the effect He knew was a feature and not an accident of Minsky effect as
accumulation of debt by the non-government. The Wasting.
Inflation Tax and derivatives are the feature called weapons of mass destruction
as the wasting from the 936 notes we left at capital and labor misnomers from deep well waste injection
and subsequent barge Oceanic dumping issues timeframes.
Current Coral bleaching observations was not missed by a few also very recently to dismantle the greenmask and
watermellon appropriation grifters. The Romer papers ran cover for the debt issues as we did from the
MF Global's collapse to the actual target of the LME Stock period.
This is in direct context to multiplier.
Romers work for the administration's theory of money multiplier was based on Fishers observations and it is in the forums from the 1930's.
viewtopic.php?f=14&t=2&p=3891&hilit=romer#p3891
How to generate severe stagflation in the years 2010 through 2019 right on que thanks Washington provided below. Sun Jun 21, 2009 8:29 pm
The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president's Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3."
In the same vein: This is from Professor Fisher's book entitled 100% Money, revised edition
published by The Adelphi Company (1936)
It was the Velvet rope period well underway from the cluster study white paper we unbraided here then.
H was instructive some key elements also as was a few more also. T

https://cms.zerohedge.com/s3/files/inli ... k=gHv-T0dH

Zone issues like Politics are no accident since FDR.
(1 + i) = (1 + r) (1 + π) fisher

thread: Rule 2a-7
by aeden
Wed Aug 12, 2020 9:10 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

At that December 1935 meeting, the FOMC had voted 7 to 5 against an increase in banks’ reserve requirements. As noted in the quote above, the argument wasn’t against inflation, even the “no” votes were worried about it, rather it was about what they thought might be the best way to deal with the monetary situation; how best to address those “excess” reserves.
To that end, the Board passed (8 to 4) a resolution stating that monetary inflation was in need of attention at that time, only that some members preferred the simpler, cleaner bond sales.
By July 1936, however, central bankers felt they could no longer wait. Opposition to using the reserve requirement instead of the Open Market Desk melted away and the new mandate was scheduled for a phased-in approach beginning later that year. In its August 1936 Annual Report, the Fed declared:
The Board’s action was in the nature of a precautionary measure to prevent an uncontrollable expansion of credit in the future.
And almost as soon as the reserve requirement was raised the banking system bled liquidity, the economy fell into a second severe contraction, one which would’ve rivaled the country’s worst had it occurred on its own, and the Great Depression once more proved its absolute deflationary hold.

The 1937-38 depression-within-a-depression.

The current measure seen from Treasury and the current safety valve metal maps.

As we read with Dietrich capital is fungible and apples and oranges of atypical Utility.
Beyond the pale has connotations still missed.
I would reflect what the Germans said on cost push in relationship to what sparked zone inflationary facts.

https://www.magadhuniversity.ac.in/down ... RE%206.pdf

For over a century the 1:3 exchange is all they are bitching about as value added.
Not rocket science. They just use rockets for eugenics cults and on another topic tissue sales for moleks infecting minds to mores.
The Monasteries for century's preserved knowledge and advanced agriculture as practices draining literal real swamps
with Borders for obvious reasons to assist factual issues in assistance's.

You may wish to note pork exports to consumer substitution realities for a simple example.
Brazil bought American proecessing plants and sold them to the Chicoms.
The wage arbiters started in 1987 locally on these effects. Clueless is a condition.
Only query was fair trade not free as Romer and cults subsidized out tax capital flows.
As we noted your decades late to intent.
by aedens
Sat Feb 27, 2016 3:26 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

February 27, 2016 at 10:20 am
I owned a ladies’ dress shop on the historic square of a Texas town that for many years had been a tourist attraction for people who lived in the DFW metroplex. From the beginning, my store earned good profits and flourished. Then the Bush crash came. Sales dropped quickly, but not from lack of traffic, but from lack of money. Higher cost merchandise, dresses, jewelry, etc. dropped off the cliff. We continued to see the same size crowds on the square as they attended our frequent events. We continued to see the same number of people coming into our store, but the number of sales tickets and amount of these tickets dropped. If I had not had enough personal capital to keep it going I would have closed immediately. But then we heard that the nearby power plant was going to add another reactor and 14,000 people would move into the area. And at about the same time the oil drilling, or fracking, was going full blast So, I rode on a little longer. But the power plant plan was dropped, the oil industry tanked, and I sold the business in 2012. Many other stores that had been on the square for many years closed and were replaced with newcomers with new money and with new dreams. Some of those stores have closed and a new cycle of dreamers has begun. Anyhow, the economic problem faced by the people in my area was a lack of demand. Plain and simple. People did not have money to spend. Ladies, longtime customers in many cases, browsed, but did not buy or they bought lower-priced goods. And the boom is not in sight.

I question whether any economic model is satisfactory when it doesn’t include the impact of political decisions designed to take away the financial wherewithal of individuals–specifically, government “trade” deals (whether WTO, NAFTA, TPP) that eliminate good-paying jobs, anti-union policies, and failure to enforce anti-trust laws. It doesn’t take a degree in economics to understand that the U.S. relies on its citizens to fuel the economy by behaving as “consumers.”

In any case, CofFEE (Center of Full Employment and Equity) has demonstrated that, with proper policies, unemployment can be driven effectively to zero, and thus it is R&R’s output gap that is too low. (A note, Kelton, economic advisor to Sanders in the Senate, is fully on board with CofFEE’s work.) --- r&r http://gdxforum.com/forum/search.php?ke ... sf=msgonly --- http://gdxforum.com/forum/search.php?ke ... sf=msgonly

It all boils down to this. R&R are essentially admitting that conventional (orthodox) macroeconomics has nothing to offer today’s economy, and claim that the use of heterodox macro, about which they know nothing, is wrong. This is the constant claim of orthodox macro, even after the entire discipline flopped on its face in 2008. Some people never learn.
NAIRU is an acronym for non-accelerating inflation rate of unemployment, and refers to a level of unemployment below which inflation rises. It was first introduced as NIRU (non-inflationary rate of unemployment) in Modigliani–Papademos (1975), as an improvement over the "natural rate" of unemployment concept, which was proposed earlier by Milton Friedman.
The Centre of Full Employment and Equity or CofFEE is an official research centre of the University of Newcastle, New South Wales, Australia, and has operated since 1998. CofFEE’s membership is drawn from the disciplines of Economics, Politics, Sociology and Geography. Y
by aedens
Sun Jan 15, 2012 7:27 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

Dimon said Europe was the worst problem for the banking sector. "But the EU and euro are solid even if the states will have to be financially responsible and do all they can to develop common social policies," he said."

Business leaders are starting to brisle up. These bankers are smarter than the market Higg since it is not there money.
Note the geopolitical fruitcakes ecalations in this affair we posted as Quintus Fabius Maxim. The Leviathon is loose
and cannot be contained. Mere spectators, to the inane affairs of wisdom and humanity of the day we mentioned
pages back. I was having a focused conversation with my wife who had issue with a observation. It sumed to this.
"Man and person were not equivalent terms. A slave was not a person, but a thing; a person was a human being endowed with civil status."
We covered no man status already. When we slave to desire we are subject to consequences to a few. They will learn from
travail of lessons that cannot be tought. They consider trillions a solution as bricks into the tower of modern babel IMO.

It is no difference than this time reference:
Fri Jul 31, 2009 6:25 pm

“In the real world, banks extend credit, creating deposits in the process, and look for reserves later”.
We see who paid for that.
Their empirical conclusion was just the opposite: rather than fiat money being created first and credit money following with a lag, the sequence was reversed: credit money was created first, and fiat money was then created about a year later:

Having failed to understand the mechanism of money creation in a credit money world, and failed to understand how that mechanism goes into reverse during a financial crisis, neoclassical economics may end up doing what by accident what Marx failed to achieve by deliberate action, and bring capitalism to its knees.
Academic economics responded to these empirical challenges to its accepted theory in the time-honoured way: it ignored them.
Well, the so-called “mainstream” did—the school of thought known as “Neoclassical economics”. A rival school of thought, known as Post Keynesian economics, took these problems seriously, and developed a different theory of how money is created that is more consistent with the data.
The standard money multiplier model’s assumption that banks wait passively for deposits before starting to lend is false. Rather than bankers sitting back passively, waiting for depositors to give them excess reserves that they can then on-lend.

Interferes in actual production in a most dangerous manner since it is impossible to mark and measure moral hazard malinvestments from a premise of credit collapse with out marked to market seeking stabilization.
Basil Moore 1983, “Unpacking the post Keynesian black box: bank lending and the money supply”, Journal of Post Keynesian Economics 1983, Vol. 4 pp. 537-556; here Moore was quoting a Federal Reserve economist from a 1969 conference in which the endogeneity of the money supply was being debated.
Consumption of fixed capital
2005 1612.0 billion
2006 1623.9 billion
2007 1720.5 billion
2008 2032.3 billion
So, they print more and more will never be enough since there is no market signal to refer to.
is this true or false to date: http://generationaldynamics.com/forum/s ... ords=romer
This is in direct context to multiplier.
Romers work for the administration's theory of money multiplier was based on Fishers observations and it is in the forums from the 1930's.
viewtopic.php?f=14&t=2&p=3891&hilit=romer#p3891
How to generate severe stagflation in the years 2010 through 2019 right on que thanks Washington provided below.
The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president's Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3."
In the same vein: This is from Professor Fisher's book entitled 100% Money, revised edition
published by The Adelphi Company (1936)
There is a growing opinion among specialists in this field that the per capita money income is approximately equal to three times the per capita
money in circulation. Should this opinion be confirmed - that money and money income maintain an approximately constant ratio or even that this
would be true in the absence of great booms and depressions - we would reach the rather startling conclusion that to maintain the dollar as a
fixed fraction of per capita income would amount to the same thing as fixing the per capita supply of money and that the only statistics needed
by the Currency Commission would be those of population. We cannot, as yet, be sure that the two criteria - a fixed per capita quantity of money
and a dollar as a fixed fraction of the per capita income - are so nearly the same
; but we can at least be sure that the per capita quantity plan
would not be a bad solution of the money problem. To note, this calculation exists.
We are right on target to what we already know. Also Fisher dies bankrupt and under his Family's dominion.
http://generationaldynamics.com/forum/v ... omer#p3608
by aedens
Sat Jul 16, 2011 6:59 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

MIDWAY, Ga. (AP) -- Police in Georgia have shut down a lemonade stand run by three girls trying to save up for a trip to a water park, saying they didn't have a business license or the required permits. Midway Police Chief Kelly Morningstar says police also didn't know how the lemonade was made, who made it or what was in it. The girls had been operating for one day when Morningstar and another officer cruised by. The girls needed a business license, peddler's permit and food permit to operate, even on residential property. The permits cost $50 a day or $180 per year.

Above does sum up why things are beyond repair. Also note a street vendor in China was beaten to death so wake up cheerfull idiots. Who could spend for the best benefit. We already know that answer. Romers work for the administration's theory of money multiplier was based on Fishers observations and it is in the forums from the 1930's.
http://generationaldynamics.com/forum/v ... omer#p3891
How to generate severe stagflation in the years 2010 through 2019 right on que thanks Washington provided below.
The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president's Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3."
In the same vein: This is from Professor Fisher's book entitled 100% Money, revised edition
published by The Adelphi Company (1936)
There is a growing opinion among specialists in this field that the per capita money income is approximately equal to three times the per capita
money in circulation. Should this opinion be confirmed - that money and money income maintain an approximately constant ratio or even that this
would be true in the absence of great booms and depressions - we would reach the rather startling conclusion that to maintain the dollar as a
fixed fraction of per capita income would amount to the same thing as fixing the per capita supply of money and that the only statistics needed
by the Currency Commission would be those of population. We cannot, as yet, be sure that the two criteria - a fixed per capita quantity of money
and a dollar as a fixed fraction of the per capita income - are so nearly the same; but we can at least be sure that the per capita quantity plan
would not be a bad solution of the money problem.

This debt issue today, and they are aware to the extent that policy error was the issue then rused of Money Stock rigidity as Capital flight was ignored.
As they say kill a chicken to scare the monkeys. They assert now that the Senators sent to end this insanity are back seat drivers and no consequence. They should be fired since balancing a check book is so difficult. Voters deserve this travail since they send them back over and over again.
The fact of the matter is you are owned.

Facts: http://money.usnews.com/money/blogs/flo ... an-anymore

Money will not come Home since basic's are this. Gold collar, White collar and Blue collar workers. Between the two party's there are none for the taxpayers who are being pushed around like vegetables on a plate. And they expect another election to be to there benefit is beyond words to express.
by aedens
Tue Jun 21, 2011 3:22 am
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: "S&P is at the cheapest valuation in 26 years."

vincecate wrote:
John wrote: One normally doesn't think of something like the P/E ratio as being
subject to a "crash," but perhaps it's possible.
When interest rates go up the P/E ratio goes down. My bet is we see interest rates up and P/E down sometime in the next year.
http://www.scribd.com/doc/58350277/Thir ... xed-Income

Under less debt saturated scenarios I would agree. This correlation will play out on graph.
Offsett of M1 (usually) is the M1 money multiplier. Just a factor I trust...
Back in the forums we warned of Romers folly to be on the money multiplier
in this climate of malinvestment on this brutal 4th wave.

Mon Aug 03, 2009
http://generationaldynamics.com/forum/v ... omer#p3891
Now the White House conveys if there is a hurdle call. Going to be a interesting summer indeed.
by aedens
Mon Aug 03, 2009 8:46 pm
Forum: Finance and Investments
Topic: Financial topics
Replies: 29822
Views: 17014308

Re: Financial topics

Rep. Richard Neal, D-Mass., chairman of the House subcommittee that oversees fuel taxes, is working on a package to make the fund more self-sufficient.
The Estimated Costs to Households From the Cap-and-Trade Provisions of H.R. 2454
http://www.cbo.gov/ftpdocs/103xx/doc103 ... ranges.xls <-------- notice amount
And the costs will be measured of course by best Government revenue nuetral means.
==============================================
Then: Sun Dec 07, 2008 3:10 pm
Sir,
Being pressed for time today can you remember that scammer's name you linked for the coming carbon energy credit scam to unfold very soon on ill advised investors.
==============================================
Meanwhile: http://hosted.ap.org/dynamic/stories/N/ ... TE=DEFAULT
Non payment for carbon credits already to be funded by as we can assume the taxpayer very soon one way or another to the spin
doctors of revenue nuetral acromony.
http://www.cbo.gov/ftpdocs/104xx/doc104 ... ffsets.pdf
And what under there all seing eye has changed?
http://www.eia.doe.gov/cneaf/alternate/ ... ends08.pdf
Consumption:
Renewable energy consumption grew by 7 percent between 2007 and 2008, despite a 2
percent decline in total U.S. energy consumption (Table 1). Total renewable energy
consumption increased by 487 trillion Btu to 7,301 trillion Btu. This is the highest level
attained based on EIA estimates of renewable energy back to 1949, and is due to
substantial increases in the use of biofuels, wind and solar energy. Renewable energy’s
share of total U.S. energy consumption was over 7 percent in 2008, compared to 6
percent in 2004
Just another option we do not need or want as a taxpayer. Energy plan? Since when has
Washington had a viable plan since the 70's Oil cash grab? There only ability is "all Government"
cost more than needed for a free market.

In addition:
If you listened to Timmy G. today, tax increase, all is on the table <--- Timmy call rate from now on. Given stats it is
almost here A. Taxpayer there just filling in the blanks since what output value to they provide as employers?
Comprehensive household income equals pretax cash income plus income from other sources. Pretax cash income is the sum of wages, salaries, self-employment income, rents, taxable and nontaxable interest, dividends, realized capital gains, cash transfer payments, and retirement benefits plus taxes paid by businesses (corporate income taxes and the employer's share of Social Security, Medicare, and federal unemployment insurance payroll taxes) and employee contributions to 401(k) retirement plans. Other sources of income include all in-kind benefits (Medicare, Medicaid, employer-paid health insurance premiums, food stamps, school lunches and breakfasts, housing assistance, and energy assistance).
http://www.heritage.org/Research/Energy ... table1.pdf
How to generate severe stagflation in the years 2010 through 2019 right on que thanks Washington provided below.
The Macroeconomic Effects of Tax Changes: Estimates Based on a new Measure of Fiscal Shocks, by Christina D. and David H. Romer (March 2007). (Christina Romer now chairs the president's Council of Economic Advisors). This study found that the tax multiplier is 3, meaning that each dollar rise in taxes will reduce private spending by $3."
In the same vein: This is from Professor Fisher's book entitled 100% Money, revised edition
published by The Adelphi Company (1936)

There is a growing opinion among specialists in this field that the per
capita money income is approximately equal to three times the per capita
money in circulation. Should this opinion be confirmed - that money and
money income maintain an approximately constant ratio or even that this
would be true in the absence of great booms and depressions - we would
reach the rather startling conclusion that to maintain the dollar as a
fixed fraction of per capita income would amount to the same thing as
fixing the per capita supply of money and that the only statistics needed
by the Currency Commission would be those of population.
We cannot, as
yet, be sure that the two criteria - a fixed per capita quantity of money
and a dollar as a fixed fraction of the per capita income - are so nearly
the same; but we can at least be sure that the per capita quantity plan
would not be a bad solution of the money problem.

Debased and flushed to dead banks to the proclivity of few causing
consumer resentment

August 2, 1930
Walter P. Chrysler sees improvement in auto industry, believes business generally on upturn; not overly optimistic about immediate future, but believes business in almost every line has hit bottom; also believes commodity prices at bottom. Pres. Grace of Bethlehem Steel confident bottom reached in steel demand and prices. Erie Rail Pres. C. Denney sees some signs of improvement.