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Jim Corr : Message to the people of Ireland
11-24-2010, 09:16 AM,
#1
Jim Corr : Message to the people of Ireland
The revolution is not an apple that falls when it is ripe. You have to make it fall. - Che Guevara

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11-24-2010, 12:32 PM,
#2
RE: Jim Corr : Message to the people of Ireland
Dr. Jamie Sanderson has an interesting formula (and far more accurate than the manipulated CPI that the US treasury uses) to signify inflation/deflation trending and indexing as it relates to interest rate vs money supply representing the feeling of inflation to drive the spending/saving curve due to liquidity and capital flow mechanisms.

Quote:M3 Inflation and Ireland: Deflation Sets In

My thought bubble on M3 Inflation is going to be developed further as time goes on. The basic premise is that the annual growth rate of money supply (M3) minus the amount money can earn in a year (short term interest rates) will approximate a ‘true’ measure of inflation/deflation. This type of measure is needed because the standard measure of inflation currently used by government statistical agencies around the world is hopelessly flawed.

Having constructed an M3 inflation measure for Australia over the last several decades the picture is one that if put to the average joe on the street would much more accord with how they ‘feel’ inflation in their everyday lives. The measure for Australia shows much higher levels of inflation over the last decade and also several short periods of deflation in the two decades before that.

This is still only a thought bubble with no peer review as yet, I am an academic economist with an honours degree, a PhD and some publications in econimics, but currently non-practising. I can come up with these ideas free from the constraints many non-orthodox economists must deal with on a day to day basis.

So the thought bubble will be expanded to Ireland. Basically the same methodology, annual growth in M3 minus short term bank interbank interest rates (90 days). With the monetary unification of the European Union the classic measures of M3 for each member country became obsolete overnight. However, Ireland has constructed it’s own measure of M3. The measure is known as the Irish contribution to the equivalent euro-area aggregate M3.

The Iriish Central Bank put a great deal of thought into how a new measure for M3 could be constructed given the financial implication of the Maastricht treaty. The following document is one example, http://www.centralbank.ie/data/QrtBullFiles/2003%2003%20Money%20Supply%20in%20Ireland.pdf.

   

So let us cut to the chase and have a look at M3 Inflation in Ireland. The following graph clearly show that with my measure of M3 Inflation, Ireland lurched into a sever period of deflation in 2008 and has slowly been clawing back ever since. The deflation rate plunged to levels of 15% .

   
http://www.deflationite.com/blog/?p=212

Defaulting on the loan, No to the EU, No to the IMF, Independent Monetary Policy, Nationalize Resources, Nationalize Money, Government integrity -- can't disagree with that... too much.

Careful in the implementation of nationalization (government monopoly) though. Electoral reform or institute a direct democracy will put the power back in the hands of the mob -- but you need an informed mob to make informed decisions. Best to have local vetoes so the minority is protected.

Really it comes down to one thing, respect. Respect for others, respect for your neighbours and respect for the Planet.
There are no others, there is only us.
http://FastTadpole.com/
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