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#346 DrStool

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Posted 19 May 2003 - 07:25 AM

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#347 rayok

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Posted 19 May 2003 - 10:38 AM

WHY CURRENCY DEVALUATIONS ARE A LOSER'S GAME

If your country is productive and it's products are in demand, why reduce prices?

When prices are reduced (currency devalued) by 20%, you now need 21% more sales to benefit.

Imports are reduced because they are more expensive (20%), but imports must be reduced by more than 20% to benefit.

No country has ever devalued it's way to greater prosperity. :P

#348 BarBu

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Posted 19 May 2003 - 12:25 PM


I cannot site sources but believe the number I have seen in several places for  10% of all stock holders holding around 60% of all stocks is a good number.

This is not really that new.

Pareto (to whom the 80/20 rule is named after) was an economic historian who made the observation that 20% of people owned 80% of wealth.

Unfortunately, I am lumped in the plebian side of this wealth equation. :lol:

DIDNT WE ALL LEARN THIS at the Parker Bros. school of Economics,located i believe ,in Atlantic City??
:P

Looks like people are serious about this numbers...... I saw it at Bloomberg, a commtary by Art Pine about 2 years ago; Bloomberg already removed that link. I will dig the exact number from my office's computer if it is still there.

I retrieve the follwoing old commentary from my archive with the answer.

this is prettry much an obsolete commentary so I skip most the part.

---------------------------------------------

10/30 00:01

The Wealth Effect -- Not as Potent as Some Suggest

By Art Pine

Washington, Oct. 30 (Bloomberg) -- Next to the idea that there's a ``New Economy,'' the most ballyhooed concept in economics in recent years may be the ``wealth effect.''

... .....

Indeed, Edward N. Wolff, an economist at the Jerome Levy Institute, points out thatthe 1998 Fed figures show that 90 percent of total stock shares -- accounting for 79 percent of the overall value -- were held by the richest 10 percent of American families. The richest 1 percent held half of the total.

........





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