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  The Chatter Box : Blathering On
Re: The globalisation of economic growth in the 20th century by Ahren on 21 June 2005 10:39pm
Well that's always nice to know

Did you write it all out yourself?!
Re: The globalisation of economic growth in the 20th century by George on 22 June 2005 7:26am
Ahren, that's a great question. RedWood, did you write all this yourself? Are you a student majoring in Economics somewhere? Some of the conclusions made in your paper are good and some I have problems with.
Re: The globalisation of economic growth in the 20th century by CheekyTraveller on 22 June 2005 10:23am
Food for thought! (no pun intended)
Re: The globalisation of economic growth in the 20th century by canaveralgumby on 22 June 2005 10:28pm
I recently watched a standup commedian on tv (wish I knew his name) who said he refused to give money to the homeless. He said he's in $10,000 of debt, whereas the homeless are dead even with nothing, so he figures they're in better financial shape than him.

I appreciate your post, RedWood! I've recently had a thought. I hope I can articulate it 1/16 as well.

I have had to ask my bank to investigate what is now the 5th unauthorized direct debit out of my checking account using my or my husband's Visa ATM card #. This is a common occurance now.

I have had electronics, travel discount plans, magazine subscriptions and other "services" charged to my account in the past few years. I'm guessing that most people reading this have also.

What I have found in trying to find the culprit(s) is, there are very elaborate networks of offices, in different states, sometimes countries, so that it is extremely discouraging and difficult to trace who actually sold my account # and info to the next party, who gave it to the next party, and so on. A lot of buck-passing, and each party in the chain cannot be found to be doing anything wrong.

This means there are many people employed (on the books or not) by many companies (legitimate or not) whose purpose, beneath whatever facade is used, is to illegally scam money from hundreds of thousands or millions of people.

Carrying out scams is its own industry. Who knows how extensive the indusrty is?

My theory is, this has proliferated so much because of unemployment and the desperation of people falling into poverty (or already trapped there). People will do what they have to do to eke out a living.

If I were hungry, I can't say I wouldn't participate. Especially if the victims seemed wealthy and I was only getting $10/mo. out of them...

Okay, I don't know how to end this post. Whaddya think? - Cori

Re: The globalisation of economic growth in the 20th century by Ken Dunn on 23 June 2005 11:23pm
What a strange posting. I looked at the thread title and said to myself that must be a dissertation for a degree. Although I haven't read it that is exactly what it looks like. I'm afraid I can't add constructive comment on the item's content.
OK, I've thought of an amendment to the dissertation title. For 'growth' substitute 'stability'.
I don't think I'll have time to write the new one.
Re: The globalisation of economic growth in the 20th century by George on 24 June 2005 6:50pm
Cori, we either have an "acceptable" level of criminal behavior or do away with credit cards altogether. I've had bogus charges put on my credit cards as well, which are taken off after a good bit of hassle sometimes. It's seems like that's part of the price we have to pay for the convenience of using credit cards. If there were fewer people with access to your credit card billing, along the way, there would obviously be fewer opportunities for mischief. I think in time, this will in happen with advances in technology. What amazes me, is how well the system does work, when there are companies like Amazon.com who never see anyone's credit card or Identification.

Red, I'm sorry I don't have time to fully critique your paper, but I'd like to make a couple of general statements. When you describe "debt", I think your understanding might be incomplete. Debt is also a function of reliability. All developing countries borrow lots of money, because it's more productive than just plain saving. They get it through loans which is the same thing as issuance of debt. America is able to get more money and pay a lower interest rate, than, say, Uzbekistan because we have a much bigger tax base from which to raise the money to repay. As the world lending markets gain confidence in Uzbekistan over time, the situation will change. As it stands now, just about the only way some of the dirt-poor countries like Somalia can build sewer systems & the like is through the charity of organizations like the United Nations. The same principle works for cities, states & corporations as well.

Also, you seem to be anxious over the idea that money is collecting in offshore banking institutions. I'm not, because I believe this is just part of the inevitable evolution of doing business. It really doesn't matter if the bank is in New York, London, or Timbuktu, with electronic banking, nowadays. Money has a life of its own and is not static, like stashing money in a mattress. The entities that deal in billions and billions must be "at arms length" with each other and deal honestly, or lose confidence. Otherwise, the world's pension funds and insurance companies would go out of existance, and no one with a brain wants that.

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