Uphill struggle

Komentāri (7)

Valdemārs Valdemārs 12.07.2013. 11.43

In the perspective of next few years there is no concern of high inflation indeed. However, I am not that sure about the long run. QE policies of the major central banks pump up the money stock worldwide. Those efforts to “stimulate economy” are largely in vein due to preferences of economic agents to hold cash like bonds instead of following a conventional spending behaviour. Nevertheless, this precautionary behaviour will not last forever. And when the attitude will shift the reversal from the sitting on the pile of cash to the getting rid of it will blast the prices up in a short time span with a narrow room for the central banks to react.

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simpsons 11.07.2013. 23.13

Latvia is country where person who 10 years was directly responsible for the state budget and 8 subsequent years for the audit of the budget can declare that Lats is not money, but nation’s flag and ‘the last remaining freedom’.
Lemberg’s spokeswoman Reizniece-Ozola has heard that just before changeover of Lats to euros, the exchange rate will move by 30%, fuelling rumours of exchange rate at parity. Another member of her party on national TV suggested to base decision on euro on views of one taxi driver in Berlin.
Therefore, it is hardly surprising that a women or an anonymous commentator at BNS have bizarre views on euro.

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simpsons > simpsons 12.07.2013. 00.56

Many people regard that Lat notes are beautiful. Some also believe that Lats foremost is money. Because euro functions better as money, it’s worth considering adopting euro.
Whatever people’s views, if they express idiotic opinions, they should be called to answer.
For example, if somebody implies that stars in the EU flag have something to do with number of the EU member states, that somebody should be told that he is quite mistaken.

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simpsons > simpsons 12.07.2013. 19.24

– If you new that the number of stars on the flag have nothing to do with the number of the member states, then why did you imply otherwise?
– Language is much more than the communication tool, it is major part of the nation’s culture and adapts to local geographical and historical specifics. To demonstrate it I was going to ask you to translate into English ‘sērsna’, ‘urla’ and ‘Jāņabērni’, but because you love the symbolism so much, here is better example. ‘Latvijas Avīze’ was asking readers for ideas for a monument which would represent Latvia. Amazingly many suggested along the lines ‘Sērdienīte sēž uz laukakmeņa un gauži raud’. English please.
– Money have certain functions (1) be medium of exchange. Majority of Latvia’s foreign trade is in Euros, nothing in Lats. Even within Latvia quite a few transactions are done in euros, e.g. financing. (2) accounting unit – some car dealerships express their prices only in euros, Latio publishes flat prices in €. (3) store of value – end of 2008, beginning of 2009 Latvians changed 2 billion lats for euros. Therefore euro is better money than Lats.
It appears that your only arguments against euro is that euro coins come in different size to Lats and, bizarrely, that you find Milda less of a symbol than the cow and the salmon.

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simpsons > simpsons 13.07.2013. 12.46

Just for recapitulation
– On topic about economics and weak/false argumentation, you linked number of stars on the European flag to number of the member states. The link, which by your own admission does not exist, therefore the argument is false.
– You made fantastic statement that a language is just a communication tool which I rebuffed. Now you are implying that a living language is only commodity and would like to put a price on it. I believe that that communication within your family/friends and recognition of the heritage is priceless. For 99% of Latvians that would not be possible in English.
– On the topic under discussion you introduced argument of different sizes and that the cow and the salmon represent Latvia better than Milda.
Now you are arriving at participation in ESM. Yes, Latvia will have to pay 300 million euros. No, it is not expenditure, it is investment in capital which pays dividends, both economic and political. Arguments against ESM coming from a Latvian is preposterous. Latvia was the first beneficiary of ESM predecessor and still owes it more than 3 billion euro. And why only against ESM? Latvia has subscribed to EBRD capital 30 million, 220 million euro in EIB capital and 142 million SDRs in IMF. Shall we withdrawn from all these too?

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simpsons > simpsons 13.07.2013. 15.14

– I can read what you wrote, but cannot understand why in the discussion about economics you insist on counting stars.
– Glad to hear that your command of English is as of your mother tongue. For 99% of Latvians it is not. By the way, would you mind putting in English ‘sērsna’, ‘urla’, ‘Jāņabērni’?
– You are saying that Latvia can refuse help others, and those others next time will be definitely helping Latvia? Seriously? If you view that the current situation in Latvia is less advantageous than bankruptcy of the state, disappearance of the banking, severe devaluation followed by bankruptcy of all mortgage holders in forex and major inflation, then you will fit well in Nikolajs Kabanovs organisation ‘God save the Lat’.

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simpsons > simpsons 13.07.2013. 20.44

It is you who states that it is easy to replace Latvian with English. I wrote exactly the opposite. Why then I have to prove your bizarre views? Brits are know for speaking speak English already for few centuries, yet are less well-off than Germans.

In 2008/9 no-one was willing to provide any loan to Latvia and local interest rates exceeded 10%. Yes, in those circumstances long term loan at 3% interest and huge amount is a help.

You say that Latvia’s bailout was financed by IMF, not ESM. I wrote ‘ESM predecessor’, which the arrangement of the EC and the member states actually is. IMF allocated 1.7 billion euros, other 5.8 billion were put together by the EC.
Can’t you do even basic search before making obviously false statements?

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Uphill struggle

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