ronthecivil Posted August 8, 2013 Share Posted August 8, 2013 This is a simplistic point of view given the fact that in the 19c the geographic space occupied by markets was much smaller. Today, the ability for crises to be shifted, or traversed to other markets, exists. Do you include all capitalist economies when looking at the modern era? Given the global nature of our system, you should. Link to comment Share on other sites More sharing options...
CB007 Posted August 8, 2013 Share Posted August 8, 2013 Nevermind! Link to comment Share on other sites More sharing options...
CanuckClown Posted August 9, 2013 Share Posted August 9, 2013 BTW as a fun exercise I decided to look up just how big trade was in the ancient era by looking at Ancient Roman trade with China. Now, I don't doubt that the world is more interconnected and interdependant than ever but people have this strange idea that large scale international trade, globalisation if you will, is somehow new. Check out this reckoning of the cost of the silk trade into Rome by pliny the elder.... If one takes a value of one sesterce to be one gram of silver, which is about what it was supposed to be, then the value of the silk trade alone to China from Rome in Pliny's time was 100 MILLION dollars a year. In silk. Link to comment Share on other sites More sharing options...
CB007 Posted August 9, 2013 Share Posted August 9, 2013 I don't know anyone who would argue that international trade is something new... I'm really not sure what you're trying to get at to be honest. Link to comment Share on other sites More sharing options...
ronthecivil Posted August 9, 2013 Share Posted August 9, 2013 The technique involves redefining your argument to make it obviously wrong, then effortless dismantling it with simple facts. However, Ron might not have done it on purpose. Link to comment Share on other sites More sharing options...
CanuckClown Posted August 9, 2013 Share Posted August 9, 2013 I was simply saying that a global economy is not new. That's all. Not sure how this got so off topic. I believe it was something to do with mention of the federal reserve and quantitive easing which tends to bring out the gold bugs and new world order conspirists. Link to comment Share on other sites More sharing options...
mdehaan Posted August 9, 2013 Share Posted August 9, 2013 I was simply saying that a global economy is not new. That's all. Not sure how this got so off topic. I believe it was something to do with mention of the federal reserve and quantitive easing which tends to bring out the gold bugs and new world order conspirists. Link to comment Share on other sites More sharing options...
ronthecivil Posted August 9, 2013 Share Posted August 9, 2013 You're surprised the federal reserve was brought up in an US economic boom and bubble discussion? This is the second time you've mentioned gold bugs and conspiracy theorists, what are you trying to start? How about a new thread? Link to comment Share on other sites More sharing options...
mdehaan Posted August 9, 2013 Share Posted August 9, 2013 No, not surprised, it's definitely playing a part. It was just some of the comments about the federal reserve. IMHO they are doing a better job with the economy than the US federal government! It will be interesting to see what happens when debt ceiling V2.0 comes around but one thing is for sure that so long as inflation is not humming along on it's own they will artificially create it until it does. Link to comment Share on other sites More sharing options...
CanuckClown Posted August 10, 2013 Share Posted August 10, 2013 I agree it will be interesting. Unfortunately, discussing inflation/CPI would most likely lead to indirect personal attacks and more talk of gold (blah) and conspiracy theories. Link to comment Share on other sites More sharing options...
CB007 Posted August 10, 2013 Share Posted August 10, 2013 The problem with bringing up the Fed is that too many people clinge to a BS documentary - name I refuse to mention - that has so many holes and flaws in it that it's impossible to take seriously. Link to comment Share on other sites More sharing options...
mdehaan Posted August 12, 2013 Share Posted August 12, 2013 The problem with bringing up the Fed is that too many people clinge to a BS documentary - name I refuse to mention - that has so many holes and flaws in it that it's impossible to take seriously. The days of going back to the gold standard are long over save for an absolute global meltdown - world war 3 is literally more likely. Having said all of that - they do play a role. Talk of the gold reserve ratio is certainly a topic that could have profound impact without resulting in a paradigm shift. Link to comment Share on other sites More sharing options...
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