tag:blogger.com,1999:blog-2250387991720860996.post3043874268272226100..comments2023-05-15T07:54:01.876-07:00Comments on Bathos on Econ and Trading: Monetary Policy Success - Transfered to Fiscal? Hegemon@ElpinorFollyhttp://www.blogger.com/profile/00158477037189661959noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2250387991720860996.post-86931883355546790202009-02-02T13:22:00.000-08:002009-02-02T13:22:00.000-08:00www.moslereconomics.comThe world got caught short ...www.moslereconomics.com<BR/><BR/>The world got caught short $US for a variety of reasons including funding $ assets that depreciated.<BR/><BR/>Falling crude prices made $ far harder to get, exacerbating the short squeeze.<BR/><BR/>The Fed swap lines are, functionally, nothing more than high risk, unsecured loans to foreign cb's that have bought the world some time to cover their $ needs.<BR/><BR/>Warren Mosler<BR/><BR/>www.moslereconomcis.comWarren Moslerhttps://www.blogger.com/profile/10482768786644478587noreply@blogger.comtag:blogger.com,1999:blog-2250387991720860996.post-86234141366309521672009-02-02T10:48:00.000-08:002009-02-02T10:48:00.000-08:00I make a distinction. It's irrefutable the US easi...I make a distinction. It's irrefutable the US easily fulfills the definition of a hegemon. However, there is nothing intrinsic to the definition of being a hegemon that ensures it will carry on as such. Historically, I would argue that hegemons are at risk--to themselves and to others.<BR/><BR/>At this particular juncture, risk is pretty high to the USA as a hegemon. The world has been operating under such a framework for 60 years. If you and I agree that this crisis is fated to give expression to long-standing pressure in the tectonic plates, then one has to carry some for of insurance against hegemon breakdown.<BR/><BR/>Gwww.gregor.ushttps://www.blogger.com/profile/14172143997858920566noreply@blogger.com