| Forum Home | ||||
| PC World Chat | ||||
| Thread ID: 93990 | 2008-10-09 09:22:00 | hypocrits & thieves | mark c (247) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 711066 | 2008-10-10 18:24:00 | I realise there are some on here who are way beyond the group I will introduce you to,but for we plebes please have a look at this forum. http://www.economics.harvard.edu/ |
Cicero (40) | ||
| 711067 | 2008-10-10 19:29:00 | Good points Win01, I know about the New Deal and Keynes. The Monetarists derided Keynes and now the only solution appears to go back to some form of it. I said it wouldn't work because easier credit will just cause another bubble unless the whole system is closely regulated, which is going to need a major change of thinking and behaving and I don't see that happening. | mark c (247) | ||
| 711068 | 2008-10-11 05:16:00 | You will all be Socialists quite soon, new right monetarist system is in meltdown. | zqwerty (97) | ||
| 711069 | 2008-10-11 08:04:00 | Yes it is zqwerty, but there is a tendency for those who hold a belief which is under pressure to back up to the wall and become even more zealous. We have had 20-30 years of monetarism (aka Freidmanite economics, the Chicago school, Thatcherism, Reaganomics, Rogernomics,). That in human terms in a whole generation. That is also a generation of huge student debt which is an integral part of the scheme, but I digress. These last few decades where unbridled greed was considered the best policy for economic development (didn't anyone see "Wall Street", at least?) and therefore for overall human prosperity generated a bubble of expectations and a profit-feeding frenzy liberated from the "nanny shackles" and then exploded in smithereens. The taxpayer will now pay to clean it up. When will we ever learn? And to those recalcitrant free marketeers and anti-regulators who may say "Well who the hell are we going to be regulated by?" I totally sympathise with you. The regulators cannot be expected to be perfect anymore than anyone else, but to return to the title of this post, if you want to left alone to do your own thing and assume the responsibility and get the benefits for your own behaviour don't come back to "the nanny state" you have been so hip in abusing asking to be bailed out after you have fleeced millions from millions. I have considerably more time for philistines than I do for hypocrits and thieves. |
mark c (247) | ||
| 711070 | 2008-10-11 10:18:00 | Its unreal that rednecks like Solmeister are blaming it on "beneficiaries". Unless he's going to include in that category all those poor CEOs who no longer have a job....I'm really grieving with that last CEO of Lehmann Bros. who has sleepless nights.....counting the US$500 million he was paid over the last 8 years. Martynz |
martynz (5445) | ||
| 711071 | 2008-10-11 19:31:00 | The Reds are coming from under there beds,Terr will be joining your ranks soon. We have a boat ready for you on Auck warf,to Cuba, and for you lot no doubt paradise. |
Cicero (40) | ||
| 711072 | 2008-10-12 10:28:00 | When Bankers knowingly lend other peoples money, to individuals or corporations, where there insufficient equity to safeguard their depositors funds, and doubtful ability of many of the borrowers to service the debt the bankers granted, they have failed in their duty to the depositors, and should be held accountable. the failures have been so wide spread and the number of property possessions and mortgagee sales so great that the markets have become so depressed as to threaten what was previously secure debt. This problem did not occur overnight, and it has been an international failure of governance and control over a protracted period that has been the catalyst for this financial melt down. The tragedy is that it will be the innocent that suffer, the taxpayer will end up paying, and those who should be held accountable will evade being held responsible and paying for their actions. |
KenESmith (6287) | ||
| 711073 | 2008-10-12 22:15:00 | We have a boat ready for you on Auck warf,to Cuba, and for you lot no doubt paradise. As I said in an earlier post there is a tendency for those whose belief systems are threatened to become even more zealous and revert to entrenched positions. This crisis goes all the way to the early 80s and the "big bang" deregulation of the finance industry. If we are going to find a way out of it and stop it happening again we need some sensible analysis, not reversion to positions based on fear and hostility. The privatisation of profit and nationalisation of debt is clever (and beneficial for a wealthy minority) but in the long term it is us ordinary people who will pick up the tab. It is sadly ironic to see here so many posts supporting the politico-economic position of Friedmanite economics from the same people who are going to pay for its failure. |
mark c (247) | ||
| 711074 | 2008-10-12 22:46:00 | I do realise that I'm grinding my own axe with this thread - it's just that I wanted to talk about it with an extended group. Most people I talk to just shake their heads and say "I dunno, beyond me." Thanks for all the posts, it's been good. |
mark c (247) | ||
| 711075 | 2008-10-13 00:04:00 | Its unreal that rednecks like Solmeister are blaming it on "beneficiaries". Unless he's going to include in that category all those poor CEOs who no longer have a job....I'm really grieving with that last CEO of Lehmann Bros. who has sleepless nights.....counting the US$500 million he was paid over the last 8 years. Martynz Martynz, why dont you f u c k off. Where you get off calling me a redneck. I read the original post to be about the F\House lending, if I got that wrong sorry, however as stated, I get to hear about the doling out of impossible loans to 'beneficiaries', i did not state they are the only or main cause.... |
SolMiester (139) | ||
| 1 2 3 4 | |||||