I've been following the Greek crisis, thinking about the global economy, and got a lot of thoughts percolating through my head. Only problem is, I think I need a better understanding of the global economy, finance etc.
I wanted to lay out some of the influences on my thinking before going deeper into this. Some of it is coming from that new app - Brigade. It's nice to read some of the comments, and can be thought provoking.
Some of it comes from this article, which said a couple of things I want to know more about. It discussed the importance of letting a currency float, which was somewhat interesting...and reminded me that I'd like to know more about currency exchanges and global finance. It seems odd that a business can be doing the exact same thing it was the month prior, making a product that is just as good as it was the month before...but because it's debt is in one form of currency and it's business is in another it may suddenly be in danger simply because the rate of exchange changes. (Suddenly, it's debt is considered greater than before because the currency it operates in is devalued, so the debt is now worth more of the equivalent local currency. Nothing changed in the way it did business, but now it's in trouble.)
I also found the whole section on "The eurozone doesn't treat Greece the way America treats Kentucky" worth learning more about. Except I'm not really sure where to go for that. I'd like to read more about our national economy. About this claim that Massachussetts transfers money to Kentucky, but because it's all part of our one nation/state we aren't upset about it the way the eurozone is with Greece.
I wish there was something on public finance...I pick up drips and dribbles here and there, might be nice if I knew a PhD in economics. :)
So I've got some thoughts going on, but I know I don't actually know enough to make them solid. Picked up a few books I'll try to read at some point, not sure when I'll get these down in a blog post.
I wanted to lay out some of the influences on my thinking before going deeper into this. Some of it is coming from that new app - Brigade. It's nice to read some of the comments, and can be thought provoking.
Some of it comes from this article, which said a couple of things I want to know more about. It discussed the importance of letting a currency float, which was somewhat interesting...and reminded me that I'd like to know more about currency exchanges and global finance. It seems odd that a business can be doing the exact same thing it was the month prior, making a product that is just as good as it was the month before...but because it's debt is in one form of currency and it's business is in another it may suddenly be in danger simply because the rate of exchange changes. (Suddenly, it's debt is considered greater than before because the currency it operates in is devalued, so the debt is now worth more of the equivalent local currency. Nothing changed in the way it did business, but now it's in trouble.)
I also found the whole section on "The eurozone doesn't treat Greece the way America treats Kentucky" worth learning more about. Except I'm not really sure where to go for that. I'd like to read more about our national economy. About this claim that Massachussetts transfers money to Kentucky, but because it's all part of our one nation/state we aren't upset about it the way the eurozone is with Greece.
I wish there was something on public finance...I pick up drips and dribbles here and there, might be nice if I knew a PhD in economics. :)
So I've got some thoughts going on, but I know I don't actually know enough to make them solid. Picked up a few books I'll try to read at some point, not sure when I'll get these down in a blog post.
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