The miracle of Christmas and the obtuse notions of Paradox and Catch 22 in today’s Economics

The miracle of Christmas and the obtuse notions
of Paradox and Catch 22 in today’s Economics

Prince Albert - Friday - December 24, 2004 - by: Mario deSantis

"How we live is circular"

Jane Cull [1]

We have to solve our social and economic challenges together and when I think about the past duality of Capitalism and Communism and later of the duality of Capitalism and Terrorism I am at a loss. In fact, I cannot understand such dualities as they are artificially created not for our collective welfare but for the welfare of the few and privileged.

We have been given the understanding that Capitalism has defeated Communism when the Soviet Union collapsed with the collaboration of the Soviet oligarchs. Now with president Bush’s misunderstanding notion of Terrorism we are given the understanding that Capitalism will defeat Terrorism. So, Capitalism is pushed forward with the Free Market and with its supposed free political elections all over the world, with particular emphasis on countries rich in resources and OIL; but where do you find a Fair Market and fair elections in president Bush’s world?

In Bush’s world there is not a Fair Market as a fair Free Market exists only in Bush’s ideology of
‘supply side economics’ better known as ‘trickle down economics.’ In my last article I pointed out the misleading economic policies of Bush’s agenda: tort reform, privatization of Social Security, tax cuts and more money for wars.[2] These policies are all marketed with the ideological rationality of economics; but economics is not the result of mathematical reasoning, and in fact, economics should be the result of all of our collective understanding. Today, as a result of Bush’s ideological Free Market, our world economy is headed for a down turn, and in this respect it is really interesting to read the following excellent two articles:

* "The Paradox of Trade," by Stephen Roach[

* "A New Illusion: The falling dollar," by Kurt Richebcher[

Roach writes

"Therein lies the ultimate paradox of trade: Courtesy of a strong dollar and cut-rate foreign financing, America has been living beyond its means for almost a decade. As the dollar now weakens, that movie is about to run in reverse."

Richebcher asserts

"the Fed will face a Catch-22. With CPI inflation above 3% at annual rate and a falling dollar, a new easing of monetary policy is absolutely impossible. Rather, the market will expect the Fed to continue its rate hikes. But doing so, it would prick the carry trade bubble in bonds with disastrous effects, first on the bond market and then on the economy."

There is no such a word as PARADOX in proper communicative language and for me the wording CATCH 22 is a cliche’ invented for the purpose to freeze understanding and get brainwashed by the Bushes of this world. In fact, our social and economic events have a cyclical evolvement as both Roach and Richebcher have attested. However, let us be clear and use proper language, there is neither an economic paradox nor a catch 22.

Today we celebrate the miracle of Christmas Day, neither a paradox nor a Catch 22: Merry Christmas!


Mario deSantis







deSantis, Mario George Bush’s smarts and the economy December 22, 2004 Ensign,




Roach, Stephen The Paradox of Trade December 13, 2004 Morgan Stanley




Richeb?cher, Kurt A New Illusion: The falling dollar December 15, 2004 PrudentBear


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