super thread: The global credit crisis

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Read this: http://www.usnews.com/blogs/plannin...on-mutual-takeover-will-affect-consumers.html

 

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The reality, of course, is that the best thing the Asians could do to improve their lots would be to vote the American off the island. Without the American consuming all of their food, there would be a lot more available for them to eat.

The best choice, of course, would be for the Asians to actually eat the American.

 

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An economist Andrew Gause was on Coast to Coast AM the other day, and he was describing some of the ugliness of the federal reserve and the people that run it. Secretary Paulson is intimately tied to the crisis through his former tenure at Goldman Sachs, apparently.
When he was describing the extravagant excesses of the actual Federal Reserve HQ (like their huge private art collection and their full-time curator) and how apparently the heads of the FR make a six percent cut of all money they lend/print, well, I got a little angry.

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Any solution that is proferred by the likes of Bernanke or Paulson or W should be consumed with a pillar of salt. In fact, maybe we'd be better off if those three actually turned into pillars of salt. F***n scumf**ks

http://www.youtube.com/watch?v=-eEu1MBkT8o

 

I'm very fond of what Andrew Jackson said to the second US Bank:

"Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out."

 

That quote sounds familiar. Quite a gem.
How ironic that his face is on a Federal Reserve Note.

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oke:

 

Is anyone else wondering if GE would be in danger of going chptr 11 without the Paulson plan? They have a much larger stake in the global debt markets and financial services industry than most ppl realize i think.

 

Will the USA survive this?

 

... this is going baaaad

 

Time to buy some stock options! LOL!!! :-D

 

Is the answer to the question: "where did all the money go?", that there wasn't any to begin with - effectively the markets esp. the property market were all overvalued - viz the current oil price.

The financial industry created non-existent wealth to prop up markets that generated more imaginary funds, etc, so that all it has really achieved is a long-term burden of debt; but that's true only if we retain the financial industry and the debt it has created out of thin air, and maintain the inflated costs of construction, infrastructure maintenance (just how many road bridges in the US need repairing, and how many office towers were built during the low to zero maintenance period of several decades?)

 

That article had a glimmer of hope.

Follow the money people.
If china gets to be a financial centre even more than it is, under a semi planned economy, then Australia benefits.

 

I am going to "unstick" this thread, but am posting now to keep it from immediately slipping down into the archives. That would happen when I unstick it as last post was more than 8 months ago. If you find this is a good place to post, do so.

I don't like any mod, me included, holding an inactive thread at the top of first page of B&E forum, UNLESS, it relates to B&E rules or is of "timeless" interest / information.* I.e. most topical threads, should IMHO, sink or survive on their own merits, not by mod edict.

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*I also unstuck the "What does it take to make a patent?" thread although it does have some useful, "timeless" information. There are other ways like www.uspto.gov to answer that question more accurately. That link can is available in the "Useful links" section of the only thread which is now sticky. before unsticking it, I asked: "If you think it should stay sticky, PM me." No one did so it is sinking now deeper into the achives.

I have a policy of encouraging the use of suitable existing threads instead of starting a new one, if they exist. Thus, I want more of the first page of B&E available for display of threads that people are using (not mod made sticky threads filling half of that page, when not needed and rarely used).