Comments on: Davos Newbies Home http://www.davosnewbies.com/2001/12/06/davos-newbies-home/ A year-round Davos of the mind, written since 1999 by Lance Knobel Sat, 28 Jan 2012 12:38:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric Mauro http://www.davosnewbies.com/2001/12/06/davos-newbies-home/comment-page-1/#comment-197 Eric Mauro Wed, 30 Nov -0001 00:00:00 +0000 http://www.davosnewbies.com/?p=480#comment-197 Hi Lance, Cavallo has a point, this doesn't seem to have much to do with his actions. He's just doing what people told him to. You make it sound like they're in all this trouble because /argentines are hot latin lovers. Hi Lance, Cavallo has a point, this doesn’t seem to have much to do with his actions. He’s just doing what people told him to. You make it sound like they’re in all this trouble because /argentines are hot latin lovers.

]]> By: Lance Knobel http://www.davosnewbies.com/2001/12/06/davos-newbies-home/comment-page-1/#comment-198 Lance Knobel Wed, 30 Nov -0001 00:00:00 +0000 http://www.davosnewbies.com/?p=480#comment-198 Eric,
I hope I didn’t give that impression. They’re in trouble for a bunch of reasons: profligate spending by uncontrollable regions, the strength of the dollar versus the devalued Brazilian real, etc. I agree that it isn’t all Cavallo’s fault – he went into a near-impossible situation. But he’s an arrogant sod, and the remark that it’s Michael Mussa and Ricardo Haussmann’s fault was nonsensical.

]]> By: Eric Mauro http://www.davosnewbies.com/2001/12/06/davos-newbies-home/comment-page-1/#comment-199 Eric Mauro Wed, 30 Nov -0001 00:00:00 +0000 http://www.davosnewbies.com/?p=480#comment-199 OK Fair enough. But the currency board was from Steve Hanke, and the austerity plan was from the IMF's economists. And ultimately, the dollar's outsized strength is from Greenspan's domestic monetary policy. So he may have a point. Even if he doesn't know what's happening, somewhere he must understand that something that worked great from 1991 to 1997 just doesn't break down on its own. OK Fair enough.

But the currency board was from Steve Hanke, and the austerity plan was from the IMF’s economists.

And ultimately, the dollar’s outsized strength is from Greenspan’s domestic monetary policy.

So he may have a point. Even if he doesn’t know what’s happening, somewhere he must understand that something that worked great from 1991 to 1997 just doesn’t break down on its own.

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