Table On-Topic Summary - 05-Oct-2002
A compilation of this board's financial/economic posts From 43235 to 43249

Post  43235  by  Decomposed       OT: Table ON TOPIC SUMMARY Oct 04, 2002

Post  43236  by  pdowd       Reply
ttalknet2 !!
That was really an excellent post ! I especially appreciated this paragraph : " Yin/Yang. Good/Bad. Make lemonade from lemons. That's the 'message' of human experience. Fix the broken systems and do better at adapting the next time aberrations arise. "

No better example of that was the gubenitorial election of the early 90's in the" Great State of Louisiana " ---- David Duke vs. Edwin Edwards. We had the Ku Klux Clan going up against the Mob. Edwards even had a bumper sticker that read : " Vote for the Crook , it is too important this time ! " . Of course Edwards won and legalized gambling was forced down the voters throat , but that was better than total anarchy under David Duke.

Fast forward to present ----Edwin Edwards is a convicted felon set to serve a 10 year sentence in late October , and David Duke is on sabbatical somewhere in Russia and really has not been heard of since that election.

Louisianna currently has a 2 term Governor Mike Foster. He came from out of nowhere ; a non politician who was an honest self made blue collar millionaire with a real self effacing "down home" style. He has really made alot of reforms to LA's political structure and really "cleaned house at the state capitol". Out of the darkness of Edwards / Duke , voters chose a relative unkown with an honest conservative message and changed the whole system !
Regards PD.

Post  43237  by  pdowd       Reply
pmcw !!

I came home after Hurricane Lilly to find a 200 hundred year old Live Oak tree totally destroyed on my property. It was totlly uprooted and toppeled over. I am really devestated. It was registerred with the National Live Oak registry. I really can't bear to have it all chopped up,but I am told by tree experts that it is a total loss. A very sad time for my wife and I ,but at least we are all safe and sound as we fled Lilly to Dallas, Texas and didn't feel a thing. Regards PD.

Post  43238  by  maniati       OT: ttalknet: I disagree with your characterizatio
Post  43239  by  pacemakernj       OT: Clo, I think it is a tossup. I would not be su
Post  43240  by  maniati       OT: pdowd: Not that this is much consolation, but
Post  43241  by  maniati       OT: Slouching Towards Nigeria

Post  43242  by  pdowd       Reply
maniati !!
That is an excellent suggestion. If you have either visited or have seen pictures of Oak Alley plantation in Vacherie , Louisiana . You will see the power of what one person can achieve for posterity.

The canopy of 28 live oak trees , that lead from the Mississipi to the Plantation was planted by a poor farmer who occupied the property Oak Alley was built on. He planted the trees from seedlings at least 50 years before Jaques Roman built the beautifull plantation home. Now almost 300 years later people still marvel at what that poor farmer achieved by the simple act of planting 28 smal trees , which by many are considered more magnificent than the home itself !

Regards PD.

Post  43243  by  maniati       OT: pdowd:
Post  43244  by  maniati       OT: Tin: I have to hand it to you, I thought I did
Post  43245  by  clo       OT: Pace, The Constitution it's a matter of interp
Post  43246  by  jeffbas       OT: maniati, another great post. The NJ situation,
Post  43247  by  ttalknet2       OT: maniati, a little research turned up two thing
Post  43248  by  tinljhtkh       OT: maniati!

Post  43249  by  srudek       Reply
Question: What is a "dollar-pegged" currency?

I ran across the following paragraph in an article about Brazil's currency crisis: "When the dollar-pegged real was introduced in 1994, inflation stabilized -- until this year's currency and stock-market crash in Brazil once again sent the country's economy reeling."

What does it mean to be "dollar-pegged"? Brazil, Argentina, and I think a number of other currencies were somehow "pegged" to the dollar to, supposedly, make them credible. Yet, somehow, that pegging has not only not worked -- I've read that it has backfired and made the plight of many countries much worse than it otherwise would be.

Can someone explain this to me? What exactly does it mean to be "pegged". Why was that thought to be helpful and how has it gone wrong?

I'm presuming this means that the various countries have pledged to exchange dollars for their currency at some fixed exchange rate -- as the U.S. used to promise to exchange dollars for gold. The U.S. had to discontinue because it wanted to be able to inflate without limit and pretend it wasn't doing that. Is that what happened in Argentina, Brazil, and the other countries "pegged" to us? Did they actually decide to out-inflate us even knowing they'd be inviting a run? Or is there much more to the situation than this?