At 16:59 1998-05-25 +0000, you wrote:
>In response to Henry and Peter,
>
>'There is a THEY who tell people to do things in accordance with the
>signals from "the market". "the market" that launches these signals is,
>however, not a THEY, but certainly a reification. No THEY starts the
>markets and no THEY keeps it going on. Certain THEY use the market for
>THEIR purposes.'
>
>I'm not sure about these signals. Smoke signals, yes. they mean what you
>want them to mean.
>
>A strawberry grower once explained to me about market signals.
>If the market is good, obviously you plant more strawberries - market
>says so, by the price-message.
>
>If the market is down - you plant more strawberries. Every body else
>will pull out, so the price will go up next year.
>
>More seriously , refer to an article on the messages of the money market
>according to NZgovt experience, written by Jan Whitwell. This stuff
>about market signals is unproven. There is no delivery system. And often
>there is no translation system. so the govt has to use very crude
>messages (concealed as market messages), like put up interest rates on
>mortgages and (mortgage-paying) people will stop buying stuff therefore
>inflation will come down. Put up interest rates on 90-day bills and
>businesses will stop borrowing - employment and wages will come down.
Govt does not by itself choose to raise interest rates. The mystical,
impersonal market has a saying as well.
>
>There is a 'they'. The market is an illusion.
The predominant emittor of market-signals is not govt but the market itself.
>We have not yet cut off
>the king's head.
>
>Cheers,
>Nesta
>
Peter Norberg
http://hem.passagen.se/fosforos/arte24.htm
>In response to Henry and Peter,
>
>'There is a THEY who tell people to do things in accordance with the
>signals from "the market". "the market" that launches these signals is,
>however, not a THEY, but certainly a reification. No THEY starts the
>markets and no THEY keeps it going on. Certain THEY use the market for
>THEIR purposes.'
>
>I'm not sure about these signals. Smoke signals, yes. they mean what you
>want them to mean.
>
>A strawberry grower once explained to me about market signals.
>If the market is good, obviously you plant more strawberries - market
>says so, by the price-message.
>
>If the market is down - you plant more strawberries. Every body else
>will pull out, so the price will go up next year.
>
>More seriously , refer to an article on the messages of the money market
>according to NZgovt experience, written by Jan Whitwell. This stuff
>about market signals is unproven. There is no delivery system. And often
>there is no translation system. so the govt has to use very crude
>messages (concealed as market messages), like put up interest rates on
>mortgages and (mortgage-paying) people will stop buying stuff therefore
>inflation will come down. Put up interest rates on 90-day bills and
>businesses will stop borrowing - employment and wages will come down.
Govt does not by itself choose to raise interest rates. The mystical,
impersonal market has a saying as well.
>
>There is a 'they'. The market is an illusion.
The predominant emittor of market-signals is not govt but the market itself.
>We have not yet cut off
>the king's head.
>
>Cheers,
>Nesta
>
Peter Norberg
http://hem.passagen.se/fosforos/arte24.htm