Ian
>
>
>
> the US exports inflation by forcing other nations to devalue; they
> experience hyperinflation [in their interest rates and need wheelbarrows
to take their money to market] we maintain price stability. Since
> other nations
> must sell more of their commodities to achieve income levels approximating
> the level before the forced devaluation, they export like mad,
> which is why
> Seattle, SF, LA and Vancouver ports have been busy as bulldogs the last 20
> months. US consumers get lower prices--even the folks who don't get
> raises--hence have a little greater purchasing power...Deflation is the
> midwife of price stability...For more info see Jonathan
> Kirshner's Currency
> and Coercion, Princeton University Press, 1995
>
> Ian Murray
> Seattle, WA
>
> > -----Original Message-----
> > From: owner-lbo-talk at lists.panix.com
> > [mailto:owner-lbo-talk at lists.panix.com]On Behalf Of Chris Beggy
> > Sent: Tuesday, June 15, 1999 6:55 PM
> > To: lbo-talk at lists.panix.com
> > Subject: Re: Japan: Up or Down?
> >
> >
> > Henry C.K. Liu wrote:
> > >
> > >
> > > Stiglitz and Krugman are both selling snake oil (quoting the
> > Japanese) and are
> > > merely doing the "if A does not work, how about B or C or A+C?"
> > They haven't a
> > > clue on how to make Asia recover. The fact is Asia will not
> > begin to recover
> > > before the US economy stops exporting deflation to feed its own
> > bubble. The
> > ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
> > > beginning of global recovery will come after the US economy
> > crashes. The longer
> > > the US bubble hold, the more severe the global pain when it
> > comes. And if the
> > > pain is severe enough, neoliberalism may well be the casualty.
> > >
> >
> > I haven't heard this before, and it sounds interesting. In the 1980's a
> > criticism of Japan was that it was exporting unemployment to its trading
> > partners. How does the US export deflation?
> >
> > Chris
> >
>