Tuesday, December 30, 2014

Updating Belshaw’s blog list 1

Denis Wright

I have begun the slow process of updating my blog lists. It’s slow because I have to squeeze the time required into an otherwise very busy schedule. Since I am updating, I thought that I would devote today’s post to a blog review.

Denis Wright died on 7 December 2013. I have retained his blog, My Unwelcome Stranger, on the list and will do so so long as the blog survives on-line. Denis was a very brave man who retained his joy in life to the end.

Do read the blog, starting with the final post, a last message from Denis. Right at the end, Denis’s blog achieved global reach because of its messages of hope and endurance.

It has been quite a while since I mentioned Barbara Martin’s Canadian blog. I used to read it all the time and then, somehow, it dropped of my radar. I think Barbara stopped posting regularly, something that we all must watch. The blog continues with its marvellous pictures of the Canadian bush.

Tikno has not posted since 21 November 2013, and I have, with sadness, deleted the blog from the list. Tikno occupies a special place in my blogging memory. The link with him and with Niar marked the start of a period when our little blogging village developed first a connection with Indonesia and then beyond. Sadly, this dropped away quite quickly. While I still get a little information through Facebook, I do wonder what happened to those who briefly flashed across our blogging firmament.

Anna Carborg’s My Observations is a new addition to my list. Postings are weekly, if sometimes irregular. I enjoy her writing style.

I have retained Catallaxy Files on my blog list because it provides an alternative view. Here I was struck by a Steve Kate’s post, Excessive savings[!] and Keynesian economics that reminded me of my lack of knowledge.

When I first studied macro-economics all those years’ ago, the simple Keynesian message had two parts. Savings must always equal investment. That was established as an identity. The second part was about plans. If planned savings exceeded planned investment, ie people and businesses wanted to save more than others wanted to invest, then the lower consumption would not be offset by investment spending. Since actual savings and investment must equal, balance was achieved by involuntary investment (rising inventories) that would ultimately lead to reduced production, lower incomes and lower savings bringing savings and investment back into balance.

The macro focus is necessarily short term. It says nothing about the longer term, including the situation where longer term savings consistently tend to exceed investment either because the investment opportunities are not there or are not there at the required rate of return adjusting for changing perceptions of risk.This seems to me to be a very different issue.

I have added Michael  Pettis’ China Financial Markets to the main blog list. IBotanic Gardens Herb Garden find it an insightful blog that also links to Steve Kates’ arguments. 

This photo of the herb garden at the Sydney Botanic Gardens comes from the photo blog Sydney - City and Suburbs. This is another blog that I haven’t mentioned for some time. It continues to run some rather nice shots about life in this harbour city.

I have added Christopher Moore's History News to the main blog list. The blog carries frequent short posts on Canadian history and historiography. I refer to it all the time.

Well, since I started this post I have played tennis with my daughters and put a pie on for lunch. I really need to eat now. Talk to you later.

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