European Tribune - Comments - On governments, taxes, rent and debt

On governments, taxes, rent and debt | 200 comments (200 topical, editorial, 0 hidden)

But debt is just non-voting preferred shares who are harder to give a haircut than ordinary non-voting preferred shares in the event of a contraction in asset values. If you allow preferred shares, you'll still have leverage (that's how the hedge funds leveraged in the 1920, and we know how that went...).

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Mar 9th, 2009 at 04:59:04 AM EST
[ Parent ]

Re: Aaaahrg (none / 1)

According to Veblen's Theory of the Business Class (1904) both debt and equity in all their forms are "loan finance".

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Mon Mar 9th, 2009 at 05:03:06 AM EST
[ Parent ]

Re: Aaaahrg (none / 0)

And also in

Creditary Economics

where the Gang8 analysis is pretty good in many ways.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Mon Mar 9th, 2009 at 06:43:23 AM EST
[ Parent ]

On governments, taxes, rent and debt | 200 comments (200 topical, 0 editorial, 0 hidden)

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