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| Thread ID: 93990 | 2008-10-09 09:22:00 | hypocrits & thieves | mark c (247) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 711046 | 2008-10-09 09:22:00 | have done very well. - monetorrerism. | mark c (247) | ||
| 711047 | 2008-10-09 09:30:00 | Well said .... ummm, what? | Jester (13) | ||
| 711048 | 2008-10-09 09:57:00 | I really don't understand how this this global economic crisis which has been caused as far as I understand by the advancement of easy (meaning unsupported ) credit can be resolved by reducing interest rates, meaning easier credit - therefore encouraging people into debt. And I don't want to appear like a clever dick, cos I don't feel like one. I just don't understand the economic theory behind that solution and would welcome info about that. | mark c (247) | ||
| 711049 | 2008-10-09 10:10:00 | have done very well. - moneterrorism.and that. | mark c (247) | ||
| 711050 | 2008-10-09 18:01:00 | and that. Nobody understands it,otherwise we would be in this predicament. Bretton woods sorted last time,but it was faulty as we can see. It will be sorted by similar,but again with faults. Nobody is clever enough to find answer. |
Cicero (40) | ||
| 711051 | 2008-10-09 19:26:00 | Nobody understands it,otherwise we would(n't) be in this predicament. Bretton woods sorted last time,but it was faulty as we can see. It will be sorted by similar,but again with faults. Nobody is clever enough to find answer. I agree :) But back in the good old days when the world was divided into the superior white races and the rest were wogs, it was possible to exploit the resources of the wogs and dagos, their gold, silver, commodities, and the only cost was to feed the locals a handful of subsistence gruel, or even better, just let them feed themselves as best they could. If they became uppity, well tie a few across cannons and blow them to smithereens as a lesson to the other recalcitrants. Thus grew up the capitalist idea of limitless growth prevalent to this day. It was also a monetary concept that when paper money was issued, it would be backed up by gold and silver standards., but very early on even before notes were issued it was found that it was possible to lend money that didn't actually exist. Thus grew up the idea of fractional reserve lending. www.livingstonemusic.net www.financialsense.com We have seen this fractional reserve lending carried out to absurdum. The big problem in latter years is that the wogs have all aquired AK47s, so it has been much more difficult to expoit their resources for the benefit of the rest of us, though GW Bush has tried and failed. Despite the genocides of the 20th Century, the only limitless growth seems to be in population, until this problem is solved there never will be an answer to the monetary problems. Now here is another question or questions: Governments around the world are talking about backing up the worlds banks with umpteen trillions of dollars, but where is this money? Will Reserve Banks around the world start running the printing presses flat out? Will world inflation follow Zimbabwe? Will the money be borrowed from China? Disclaimer: Now because there are sensitive souls with no sense of humour or history, I do not necessarily agree or disagree with anything written above.:banana |
Terry Porritt (14) | ||
| 711052 | 2008-10-09 20:29:00 | I think Shakespeare got it right. "From Shakespeare's Hamlet, 1603: LORD POLONIUS: Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry" |
lakewoodlady (103) | ||
| 711053 | 2008-10-09 20:42:00 | Not so Cicero, an answer has been found. After public wealth became private wealth (privatisation) and the free marketeers had their profit feast (exorbitant salaries and directors fees) and prudence was shoved aside by greed (ninja lending) and the whole thing fell over the answer is for nanny state to move in and make the biggest welfare handout ever seen. As Terry P says, the question of where this money is going to come from is an issue and the answer to that is quite simple. It will come from the ordinary taxpayer. Just like the leaky building issue after the deregulation "nanny state hands off" here in NZ nanny state stepped in and bailed them out too - with taxpayers money. The builders and developers got away with millions and left nanny state to clean up the mess. Same with the world banking system - nothing too difficult to understand there, so I come back to my original question. Given that the crisis is due to loose credit, reckless lending, unsubstantiated money too easy to get - then how is the solution of lowering interest rates, i.e. making debt more attractive, going to solve this? thanks for the links TP |
mark c (247) | ||
| 711054 | 2008-10-09 20:57:00 | You are very likely to find the answer here,from Ter perhaps. All the question you ask have um teen possible ramifications if answered. Just listen to the answers of different experts from around the world,you wind they give diametrical apposing views.We can if you like take a view like Ter and yourself,but rest assured I will bring a differing view from an endless supply of economist. What I am saying,is we have a complicated situation,the answer to which is not going to found here. |
Cicero (40) | ||
| 711055 | 2008-10-09 22:52:00 | Blardy AK47 got a lot to answer for | prefect (6291) | ||
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