The decline and fall of the English system of finance by Thomas Paine

[BillBoard]

For those of us that suspect how the Fed's low rate experiment will turn out, Thomas Paine wrote a much excellent analysis back in the 18th Century:

https://books.google.com/books?id=OC...inance&f=false

Clearly there are no surprises there, and just like the Japanese precedent, you all would do well to develop your people networks.

[santafe2]

Re: The decline and fall of the English system of finance by Thomas Paine

For those of us that suspect how the Fed's low rate experiment will turn out, Thomas Paine wrote a much excellent analysis back in the 18th Century:

https://books.google.com/books?id=OC...inance&f=false

Clearly there are no surprises there, and just like the Japanese precedent, you all would do well to develop your people networks.

It's important to understand this pamphlet within the context of Paine's life. He was always a radical and had long supported the French Revolution and had been found guilty of sedition, (maybe it was libel), for his ongoing fight with Edmund Burke. I read a good book a couple of years ago on this subject called The Great Debate. Paine is like Hamilton, if you get a few people in a room it's unlikely they'll agree on either of these two...or on sensible levels of debt. Paine was not against debt per se, in fact he recommended debt for the US to build a proper navy. Also, he was living in France at the time and hadn't France just declared war on England?

I'm not sure I'd try to tie 18th Century England to 21st Century Japan. Just a suggestion.

[BillBoard]

Re: The decline and fall of the English system of finance by Thomas Paine

I'm not sure I'd try to tie 18th Century England to 21st Century Japan. Just a suggestion.

His computed ratios still hold, clearly with all the new communication technology and computer storage we have been able to exceed the initial sums, but his computations still hold.

Try it yourself, the data is available from the Fred site and the Bureau of Labor, and well as the ECB and Japan's MOF.

[dcarrigg]

Re: The decline and fall of the English system of finance by Thomas Paine

His computed ratios still hold, clearly with all the new communication technology and computer storage we have been able to exceed the initial sums, but his computations still hold.

Try it yourself, the data is available from the Fred site and the Bureau of Labor, and well as the ECB and Japan's MOF.

I for one love old stuff like this. You can almost read Friedman's Quantity Theory of Money right into an hundreds-year-old pamphlet. Thanks for sharing!

[Chris Coles]

Re: The decline and fall of the English system of finance by Thomas Paine

For those of us that suspect how the Fed's low rate experiment will turn out, Thomas Paine wrote a much excellent analysis back in the 18th Century:

https://books.google.com/books?id=OC...inance&f=false

Clearly there are no surprises there, and just like the Japanese precedent, you all would do well to develop your people networks.

Good case for staying with iTulip.