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JAQUE ALERA
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Posted - 2008.09.06 20:12:00 -
[1]
Fiat currency?
Central banks?
Stock markets?
Bond markets?
Credit markets?
Compound interest?
APR?
Nationalization?
Privatization?
Commodity markets?
Inflation?
Deflation?
Hyper Inflation?
Forex?
Carry rate exchange?
All of us are impacted everyday by economic decisions made by our public and private institutions. Your ability to be employed, buy anything, sell anything, survive or fail, are all impacted by economic decisions made by other entities.
Reason for the post is there is unprecedented turmoil in the world economies which will have unavoidable consequences for us all. When you think about why Joe 6 Pac lost his job, his house, his car and his freedom do you think it's his fault or the systems? Do you even understand the system? We live in an age where information is readily available to answer any question thought or asked but do we actually use it?
Broad generalizations start the conversation. Offer your insight. Or your pithy one liners.
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goodby4u
Valor Inc.
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Posted - 2008.09.06 20:13:00 -
[2]
 Originally by: JAQUE ALERA
Fiat currency?
Central banks?
Stock markets?
Bond markets?
Credit markets?
Compound interest?
APR?
Nationalization?
Privatization?
Commodity markets?
Inflation?
Deflation?
Hyper Inflation?
Forex?
Carry rate exchange?
All of us are impacted everyday by economic decisions made by our public and private institutions. Your ability to be employed, buy anything, sell anything, survive or fail, are all impacted by economic decisions made by other entities.
Reason for the post is there is unprecedented turmoil in the world economies which will have unavoidable consequences for us all. When you think about why Joe 6 Pac lost his job, his house, his car and his freedom do you think it's his fault or the systems? Do you even understand the system? We live in an age where information is readily available to answer any question thought or asked but do we actually use it?
Broad generalizations start the conversation. Offer your insight. Or your pithy one liners.
[insert pithy one liner]
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Keta Min
Pre-nerfed Tactics
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Posted - 2008.09.06 21:16:00 -
[3]
well, the crash of an interest based financial system set in a finite environment not allowing for limitless expansion is inevitable as it is literally built into the system. the interesting question is what will happen after that, the possibilities being wars and another big reset, totalitarian government structure or people getting their shit together for once. your pick
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Irish Whiskey
Caldari
The Black Fleet
The Black Alliance
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Posted - 2008.09.06 21:33:00 -
[4]
Originally by: goodby4u
[insert pithy one liner]
Inflation's a *****?
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Fink Angel
Caldari
The Merry Men
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Posted - 2008.09.06 23:15:00 -
[5]
Edited by: Fink Angel on 06/09/2008 23:18:48
Originally by: JAQUE ALERA
Fiat currency?
Lovely little motor, though not as good as the Punto.
More seriously, IMO in the UK at least it's all down to greed in the housing market and people thinking it could sustain a huge sustained rise in price year after year.
All that actually did is give the "percent men" loads more money. The government, the banks and building societies, and the estate agents made tons more money.
Everyone else who owned homes thought they were laughing, sitting on a big pile of cash, but in reality the high mortgage payments they were making meant less money to spend. The next house up got further and further out of reach.
To illustrate with simple figures, before, my 50k house went up to 60k but the next house up went from 75k to 90k. However after things took off my 100k house was now worth 150k, but the next house up went from 200k to 300k. So although I'd made money on paper, the house I wanted to move up to was even further away in reality.
A bigger mortgage gives me less money to spend, which means less need for manufacturing, shop staff, etc.
So manufacturing slowed down, and people were laid off.
And the laid off people had less money to spend, so less manufacturing was needed.
Less shop staff were needed to sell the less stuff that was made.
So more people were laid off.
And here we are now.
To the average Joe Schmoe, ie me, it doesn't really matter how much money my house is worth, it's more important to me not to be paying out most of my salary for 25 years to pay for the thing.
And all the while the government laughably claim inflation is still at 4%, while in reality many day to day items have gone through the roof.
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SoftRevolution
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Posted - 2008.09.07 00:18:00 -
[6]
Quote:
Fiat currency?
Central banks?
Stock markets?
Bond markets?
Credit markets?
Compound interest?
APR?
Nationalization?
Privatization?
Commodity markets?
Inflation?
Deflation?
Hyper Inflation?
Forex?
Carry rate exchange?
I could give you a definition for 3/4 of those and 3/4 of those definitions would probably be right. I wouldn't claim to know how it all works though.
Roughly as far as I can tell blokes in suits trade largely imaginary goods with each other which somehow results in obscene profits for already rich people and not much benefit or else tangible harm for the rest of us.
If they get it wrong currencies can do a total Weimar overnight and everyone can be out of a job. Yay for globalisation.
"Fiat money" is pretty much just what I understand as money. Britain hasn't had the gold standard (or the silver standard) for quite some time.
Quote:
Everyone else who owned homes thought they were laughing, sitting on a big pile of cash, but in reality the high mortgage payments they were making meant less money to spend. The next house up got further and further out of reach.
From what I can tell this generally wasn't done through greed or malice but rather as a result of people doing it to keep up with all the other people doing it :/
I thought it had been common knowledge that the current mortgage situation could all go a bit pete tong for a while now.
EVE RELATED CONTENT |
Fink Angel
Caldari
The Merry Men
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Posted - 2008.09.07 01:19:00 -
[7]
Originally by: SoftRevolution
From what I can tell this generally wasn't done through greed or malice but rather as a result of people doing it to keep up with all the other people doing it :/
I thought it had been common knowledge that the current mortgage situation could all go a bit pete tong for a while now.
Perhaps I worded it a bit strongly. Yes, once things started going vertical, there was generally no choice.
It all started going a bit horribly wrong when houses were seen as investments (and "buy to let") rather than merely places to live.
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SoftRevolution
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Posted - 2008.09.07 01:35:00 -
[8]
Originally by: Fink Angel
Originally by: SoftRevolution
From what I can tell this generally wasn't done through greed or malice but rather as a result of people doing it to keep up with all the other people doing it :/
I thought it had been common knowledge that the current mortgage situation could all go a bit pete tong for a while now.
Perhaps I worded it a bit strongly. Yes, once things started going vertical, there was generally no choice.
It all started going a bit horribly wrong when houses were seen as investments (and "buy to let") rather than merely places to live.
No argument there.
It really shafts people like me not on the "ladder" yet.
EVE RELATED CONTENT |
Sharupak
Minmatar
Brutor tribe
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Posted - 2008.09.07 02:16:00 -
[9]
Basically the phase we are in right now is that all country's are basically bankrupt. The only way they can borrow more money from the international banking cartel is to have a majority holding in the "Global Economy". Viewing life from the level of corporations, countries, conflict and foreign policy, the global economy is really a global stock market. The problem is that there are all these meddlesome third world state controlled economies that are just loaded with resources that could potentially be traded.
The name of the game is resting control of those resources from the broke ass third world countries and then building the infrastructure needed to get the resource out to sea where it can be shipped and thus traded on the global stock exchanges. So you create a false flag terrorist/nation state attack and then go in and provide "aid". Or you create a false flag attack on your own people so that you get consent from the people to go bomb them back into the stone age, then make those taxpayers fund "nation rebuilding projects" which are really pipelines and whatnot to ship out the resource.
In America, that is the misdirection when conservative talk show hosts say "It cant be about the oil, because we import more oil from <insert country here>. Most of the politicians in congresses and parliaments across the western world don't give two shits about their country's sound energy policy or about their people for that matter. They care about getting their stipend from x corporation that they have made a deal for alot of money to start the next war/nation rebuilding project/environmental catastrophe and get that raw stock tradable on the global market so that x corp can make billions. They dont give a shit who buys it or where it goes.
As far the money system is concerned, all of this trading has to be done because we live in a debtor system. Nobody is ever solvent period. In fact, there is no money, only debt. You paying off your credit cards and shit only makes global debt worse because you can only borrow to "pay off your debt". Right now, we are just waiting until it becomes impossible to pay the interest... Then it will collapse.
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RuntimeError: ChainEvent is blocking by design, but you're block trapped. You have'll have to find some alternative means to do Your Thing, dude. |
Akita T
Caldari Navy Volunteer Task Force
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Posted - 2008.09.07 02:20:00 -
[10]
Originally by: JAQUE ALERA
[...]Broad generalizations start the conversation. Offer your insight. Or your pithy one liners.
Are you sure you're not "Le Skunk" 's alt ? 
He asked one... ahem... tricky question in another one of my threads, and I answered him a bit even if I probably shouldn't... but the question and the answer is much better served posted in here...
Originally by: Le Skunk
Ok, say I burned 1 million dollars of my own money.
Who profits? And where did the manpower/resources GO when you burned this money.
Hmm, tough one.
First off, "paper" money in the world right now is a fictional representation of work and/or debt, and becomes increasingly absolete.
Money used to mean something back when it was backed by the gold standard (i.e. the state/bank owes you gold for your money whenever you might need it, burning the money would be akin to you saying "keep the gold").
But since the gold standards were dropped across the world years ago, it used to be more of a "the government owes you services valued at this much"... buring it would mean "thanks, but no thanks, dear govt., I forgive your debt".
Also, lately, with the increasing tendency of banks to lend money that doesn't even exist in paper form, it's more of a "debt somebody owes you". Burning it simply means pretty much the same as before, but it's debt the bank owes you, not the government.
So, bottom line, if you burn money, nobody loses anything, but you forgive other people's debts.
Now, if you got those money in return for pledging yourself for a debt, you basically almost doubled your debt for no reason at all.
____
Bottom line, we're dealing with make-balief money that is compensation for make-belief services that are due to be rendered (probably) by somebody, somewhere, at some undisclosed time in the future, in some way.
Fiat currency could have worked, but with banks giving out money that isn't there, the inflation/deflation is little more than a pure theoretical construct with little or almost no real practical value, and it's nobody's fault but ours that we keep on accepting this crap... but we WILL keep accepting this crap as long as it's not bringing us (globally) on the verge of collapse, and even then, it would have to be a very large scale collapse in order to NOT have those "with all the fake money" being able to buy out loyalty... in other words, not likely to happen any time soon, yet.
Bottom line, money is a fake, make-belief thing.
All that matters is actual physical posessions, things you can make use of... a house, some land, precious metals, renewable energy generating devices (anything from solar powerplants and hydro plants to biogas collection facilities), various tools (anything from a hammer to a laptop is a tool) and so on.
A bank account though ? MEANINGLESS.
OWING the bank cash ? BIG mistake.
_
SHOPS || Mission rewards revamp || better nanofix
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pwnedgato
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Posted - 2008.09.07 03:42:00 -
[11]
Originally by: Akita T
****z
Shhhh if too many people learn to know the truth of money, debt and ownership society in its current form will collapse. (then again I haven't had a chance to do much good looting recently)
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JAQUE ALERA
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Posted - 2008.09.07 04:08:00 -
[12]
Originally by: Keta Min
well, the crash of an interest based financial system set in a finite environment not allowing for limitless expansion is inevitable as it is literally built into the system. the interesting question is what will happen after that, the possibilities being wars and another big reset, totalitarian government structure or people getting their shit together for once. your pick
Deadly accurate assessment. Let's all pull for the underdog, us.
Quote Sharupak "Basically the phase we are in right now is that all country's are basically bankrupt. The only way they can borrow more money from the international banking cartel is to have a majority holding in the "Global Economy" as collateral. Viewing life from the level of corporations, countries, conflict and foreign policy, the global economy is really a global stock market. The problem is that there are all these meddlesome third world state controlled economies that are just loaded with resources that could potentially be traded.
The name of the game is resting control of those resources from the broke ass third world countries and then building the infrastructure needed to get the resource out to sea where it can be shipped and thus traded on the global stock exchanges. So you create a false flag terrorist/nation state attack and then go in and provide "aid". Or you create a false flag attack on your own people so that you get consent from the people to go bomb them back into the stone age, then make those taxpayers fund "nation rebuilding projects" which are really pipelines and whatnot to ship out the resource.
In America, that is the misdirection when conservative talk show hosts say "It cant be about the oil, because we import more oil from <insert country here>. Most of the politicians in congresses and parliaments across the western world don't give two shits about their country's sound energy policy or about their people for that matter. They care about getting their stipend from x corporation that they have made a deal for alot of money to start the next war/nation rebuilding project/environmental catastrophe and get that raw stock tradable on the global market so that x corp can make billions. They dont give a shit who buys it or where it goes.
As far the money system is concerned, all of this trading has to be done because we live in a debtor system. Nobody is ever solvent period. In fact, there is no money, only debt. You paying off your credit cards and shit only makes global debt worse because you can only borrow to "pay off your debt". Right now, we are just waiting until it becomes impossible to pay the interest... Then it will collapse."
Your view of the world is completely spot on and all encompassing. What brought you to these views?
The Future
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Sharupak
Minmatar
Brutor tribe
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Posted - 2008.09.07 15:00:00 -
[13]
My pop is a conservative. When I was a kid, he got swept up into the republican take over of government after clinton which actually started about a year into his administration. All of the conservative talk show personalities like Sean Hannity and Rush Limbaugh used to actually spin a good deal of truth to undermine the clinton administration. My dad researched alot of that stuff and taught it to me. He doesnt really believe in alot of that anymore, but I picked it up where he left off. I just read alot. The internet is a huge boon when it comes to history.
If you read about it, you dont have to be a conspiracy nutter like myself, you start to see a pattern with civilization in all the "great civilizations" we get brain washed into thinking they were great. They were pretty much no different than our laughable "peaceful" civilizations of today.
Two very good books to read are Bill Cooper's Behold a Pale Horse (Not to be confused with Piers Anthony's On a pale horse which is a great book also ) I have a signed copy from Bill himself, he was a great man, just a bit confused in the religious category. One of my favorites also that pertains more to this subject and much more is to google "How I clobbered every bureaucratic cash confiscatory agency known to man" You can download the ebook. It will basically outline much of the stuff discussed here as well as a basic understanding of how Joe 6 pack is getting bentover by civil law and what he/she can do about it.
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RuntimeError: ChainEvent is blocking by design, but you're block trapped. You have'll have to find some alternative means to do Your Thing, dude. |
JAQUE ALERA
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Posted - 2008.09.07 21:03:00 -
[14]
Thanks Sharupak. I'll put those at the top of my read list.
Economic Synopsis
I don't agree with the comments on the flexibility of the US economy. I do agree the UK is leading the charge into the abyss. No resource cushion and caught between too many currencies.
I have some real concern if the Euro survives the coming global meltdown.
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The TX
Gallente
Pulsar Combat Supplies
Alternative Realities
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Posted - 2008.09.07 21:39:00 -
[15]
To the OP...
No.
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[Signature]
[/Signature]
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JAQUE ALERA
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Posted - 2008.09.07 22:11:00 -
[16]
Originally by: The TX
To the OP...
No.
Explore credit markets. Will explain the failure of the "Great Bus Adventure".
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Glarion Garnier
Federal Defence Union
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Posted - 2008.09.08 13:06:00 -
[17]
From here you can buy certain Hard Assets.
http://www.kitco.com/
_________________________________
-be vary of the men behind the curtain-
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KingsGambit
Caldari Knights
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Posted - 2008.09.08 13:54:00 -
[18]
I learned all I needed to about the current economic climate from this site (third video). Apparently the economy is a three-legged, arthritic horse
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JAQUE ALERA
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Posted - 2008.09.08 18:37:00 -
[19]
Originally by: KingsGambit
I learned all I needed to about the current economic climate from this site (third video). Apparently the economy is a three-legged, arthritic horse
That was very entertaining and very true. Put that guy in charge.
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Patch86
Di-Tron Heavy Industries
Atlas Alliance
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Posted - 2008.09.08 18:56:00 -
[20]
So, who here is for the UK going Euro?
------
Originally by: Micheal Dietrich
You can even get a midget with a camera to sit on the floorboard.
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Sharupak
Minmatar
Brutor tribe
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Posted - 2008.09.08 19:02:00 -
[21]
Originally by: Patch86
So, who here is for the UK going Euro?
I dont know this for sure, but my guess is that since it is the currency of the European Union, you guys would also be responsible for its debt. Meaning that the UK would be shouldering the burden of the other European Nations.
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RuntimeError: ChainEvent is blocking by design, but you're block trapped. You have'll have to find some alternative means to do Your Thing, dude. |
Pwett
Minmatar
QUANT Corp.
QUANT Hegemony
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Posted - 2008.09.08 19:20:00 -
[22]
I'd rather discuss RELIGION on the internet, then try to debate ECONOMICS.
At least the (a)religious crowd understands why they believe the way they do.
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Pwett
CEO, Founder, & Executor
<Q> QUANT Hegemony
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Sharupak
Minmatar
Brutor tribe
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Posted - 2008.09.09 04:16:00 -
[23]
Originally by: Pwett
I'd rather discuss RELIGION on the internet, then try to debate ECONOMICS.
At least the (a)religious crowd understands why they believe the way they do.
\
Good point!
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RuntimeError: ChainEvent is blocking by design, but you're block trapped. You have'll have to find some alternative means to do Your Thing, dude. |
Glarion Garnier
Federal Defence Union
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Posted - 2008.09.15 06:34:00 -
[24]
The story Continues.
Bailouts Will Push US into Depression
If I was a US citizen Id get some silver / gold right now. Since there are coin mint in the country. Not all countries have their own silver/ gold coin production.
_________________________________
-be vary of the men behind the curtain-
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Wendat Huron
Stellar Solutions
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Posted - 2008.09.15 15:51:00 -
[25]
All you need to know is that it's based on hype and fear and that there are obscenely wealthy people in the backroom working you as a puppet cashing in whatever happens.
These forums are FUBAR, upgrade this decade! |
Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.15 18:34:00 -
[26]
Yes, I get the lot.
Deflationary credit collapse here we come. And it is about time. Risk has been mis-priced for too long and it is time to settle the bill, default on it, and in either event face the consequences. Start adjusting to living in an economy with a reduced money supply now, because that is your future through to the end of the next decade.
Make sure you are under $100k at WaMu by Friday.
EVE CCG Trinity Booster |
rValdez5987
Amarr
32nd Amarrian Imperial Navy Regiment.
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Posted - 2008.09.15 19:06:00 -
[27]
It is my opinion that the world should become independent of the US economy. This has slowly in my opinion been happening as the US has been in economic turmoil since 2000.
The markets today fell over 300 points, amid Lehman bros holdings bankruptcy, and the buyout of that other company which i cannot remember.
On top of this AIG lost 47%? of its stock value this past week if I remember. Its a bleak time. But hey, atleast oil is going down 
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Taua Roqa
Minmatar
Groping Hand Social Club
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Posted - 2008.09.15 19:36:00 -
[28]
no
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Pwett
Minmatar
QUANT Corp.
QUANT Hegemony
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Posted - 2008.09.15 20:26:00 -
[29]
Originally by: rValdez5987
It is my opinion that the world should become independent of the US economy. This has slowly in my opinion been happening as the US has been in economic turmoil since 2000.
The markets today fell over 300 points, amid Lehman bros holdings bankruptcy, and the buyout of that other company which i cannot remember.
On top of this AIG lost 47%? of its stock value this past week if I remember. Its a bleak time. But hey, atleast oil is going down
300 points is roughly 2.25%
I think if the markets barely tremble when the second largest bank folds, then the economy is sound. We need to clean out some chaffe, the weak must fail. This is the way to a strong economy.
It has been our reluctance to let things flat-out fail in the last year that has prevented things from getting better.
Oh no, I'm debating in an economics thread... I think I'd gain more ground debate Shining One.
_______________
Pwett
CEO, Founder, & Executor
<Q> QUANT Hegemony
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Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.15 21:29:00 -
[30]
The economy is not sound.
So LEH folded and MER had to be taken over, DOW sees -500, tomorrow is another day, big deal right?
Wrong, that is not the end of it. Coming soon, WM seizure (forced merger unlikely), FDIC recapitalisation at taxpayers' expense, WB, probably WFC, another investment bank, a bunch of insurers, yanking of credit lines and consequent sinking of every SME (and hell, large corporate) that relies on an overdraft facility to smooth cash flow. Retailers, manufacturers, service - there is no discrimination if a business is susceptible in the way it is funded. I do not see COF having a nice time of it once the consumer dies, in spite of their "pulse: check, 30% APR" sales strategy, and the likes of GE Capital / Money are albatrosses around the necks of companies who would otherwise sail through just fine. Unfortunately it seems every man and his dog had to get into financing, not content with just selling a better widget.
In the UK, B&B is dead, A&L is dead if Santander backs out, half a dozen building societies too (if you can read a a balance sheet, you know which), and I do not see RBS and HBOS pulling through without selling off a few chunks of themselves. FTSE 100 aside, the real consumer credit bubble is in the FTSE 250, which I would not be surprised to see halve from here. The level of personal indebtedness is frightening and the economy is a monoculture of finance, retail and services. The same deal applies here as in the US - withdrawal of commercial lines of credit leads to successive waves of bankruptcies.
This is not the time to chase yields. A whole lot of companies are going to go to the wall and there will be defaults aplenty. The equity (and bond) markets are not a buy for two or three more years, so unless they have their money parked in cash or quality sovereign debt without much in the way of currency risk, most people are going to lose money unnecessarily if they stay in hoping this is a blip.
Commodities are a bubble too, the pump just rotates from one thing to another, creating the illusion of a great tide, but glance at LME or Bloomberg and see that as much has been crushed as has risen. Gold is absurd, the winning trade can be seen in the rear view mirror and is now just another thing to pawn to meet margin calls. Growth in a finite world is sometimes invoked to justify perpetual growth of something or other (food, energy, etc) but squeeze money supply and affordability can go down the toilet along with nominal price without any contradiction, taking a poorly thought out investment with it.
Oh, and the only real printing we are likely to see will be the making whole of retail depositors and corporate payroll accounts as banks go under and insurance funds turn out to be just another unfunded liability. A few governments can be relied upon to blast their funding costs to the Oort Cloud and their currencies onto eBay in mint condition collectors' packs, but it will be the usual (developing) suspects. I expect that after a few failed experiments it will become plain that airlines and auto companies are not infrastructure. Unless you are in South America or Asia, forget about hyperinflation.
The prism through which you will see this is that inflationary expansion of money supply through origination of debt has run its multi-decade course and service costs are now crippling. Lending standards could not go any lower, no assets remain not already pledged as collateral (in some cases multiple times), no new debt could be issued to service existing, and rolling over has stopped cutting it. Now we see a pullback in lending feeding into a wave of defaults and the destruction of money this entails. It is ironic that the coming decade will bring much cheaper prices of most everything, but even less money remaining in circulation, leading to overall reduced affordability. That is the logical conclusion of system-wide loss of access to credit.
This weekend FT told you to prepare to buy.
EVE CCG Trinity Booster |
Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.15 21:46:00 -
[31]
Originally by: Grimpak
all I know is, with that bank declaring bankruptcy, the oil prices are actually going down, wich is one of the few good things. it's on the 94.10 apparently.
No coincidence, I think. On a large enough scale:
Bankruptcy -> Debt default -> Destruction of money -> Lower prices
Great if you have no debt to service, worse if you do.
Someone mentioned the UK joining the Euro - not a good idea! The ECB is lending against almost anything these days, notably Club Med RE paper. If a bank defaults, the ECB gets to seize the offending institution... in theory. Actually there is no accepted way of doing it. How does an organisation of numerous sovereign countries go about seizing one member's bank, if the home country lacks the capability? Think it can be agreed overnight on a weekend with a minimum of fallout? How is it wound down? Liquidated? How is risk (and proceeds) divided among member states? Or more controversially, the burden of funding, should a bailout be deemed desirable? And how does it play in the bank's home country?
I think we can do without the headache of competing national interests in financial crisis management, and being cruel to be kind, some economies out there are better off being cast off to explode at a safe distance.
EVE CCG Trinity Booster |
Patch86
Di-Tron Heavy Industries
Atlas Alliance
|
Posted - 2008.09.15 22:26:00 -
[32]
Originally by: Sharupak
Originally by: Patch86
So, who here is for the UK going Euro?
I dont know this for sure, but my guess is that since it is the currency of the European Union, you guys would also be responsible for its debt. Meaning that the UK would be shouldering the burden of the other European Nations.
It's mott really, seeing as the UK is heading in to deep recession far faster than anyone else in the EU. They'd be shouldering our debt 
------
Originally by: Micheal Dietrich
You can even get a midget with a camera to sit on the floorboard.
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Sharupak
Minmatar
Brutor tribe
|
Posted - 2008.09.15 22:30:00 -
[33]
Originally by: Glarion Garnier
The story Continues.
Bailouts Will Push US into Depression
If I was a US citizen Id get some silver / gold right now. Since there are coin mint in the country. Not all countries have their own silver/ gold coin production.
I read that, talk about being 8 months behind the times! What were we in the last couple of months, an economic boom?
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RuntimeError: ChainEvent is blocking by design, but you're block trapped. You have'll have to find some alternative means to do Your Thing, dude. |
Captain Hudson
Caldari
Privateers
Privateer Alliance
|
Posted - 2008.09.15 22:33:00 -
[34]
Can we just have the complete mealtdown, depression, radical leader's climb to power and ww3 already. im tierd of seeing this all play out so painfully slowely
Bin Laden Dancing |
Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.15 22:47:00 -
[35]
Originally by: Captain Hudson
Can we just have the complete mealtdown, depression, radical leader's climb to power and ww3 already. im tierd of seeing this all play out so painfully slowely
No, we cannot. It is natural if irrational to seek to delay pain, so instead of the swift correction we could have had after the dotcom crash, we are going to end up with a trauma that will mark this generation for a lifetime.
EVE CCG Trinity Booster |
Terail Zoqial
Caldari
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Posted - 2008.09.16 00:04:00 -
[36]
Originally by: Cmdr Sy
Originally by: Captain Hudson
Can we just have the complete mealtdown, depression, radical leader's climb to power and ww3 already. im tierd of seeing this all play out so painfully slowely
No, we cannot. It is natural if irrational to seek to delay pain, so instead of the swift correction we could have had after the dotcom crash, we are going to end up with a trauma that will mark this generation for a lifetime.
You happy bastards
If I had 1 isk for every ******ed comment, I'd have a titan by now. |
JAQUE ALERA
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Posted - 2008.09.16 04:19:00 -
[37]
Edited by: JAQUE ALERA on 16/09/2008 04:25:24
Cmdr Sy,
Firm grasp of the realities. I tend to make my posts and responses simple keeping in mind the majority of people don't understand what is going on. I would recommend starting a new op regarding what the EU, US, and the UK is facing.
I appreciate your post tremendously.
Jaque
This gentleman also has a firm grasp of reality.
Linkage
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Taua Roqa
Minmatar
Groping Hand Social Club
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Posted - 2008.09.16 07:50:00 -
[38]
Ok i'll let on, i knew this was gonna happen years ago when i did some research into banking on the behest of a friend saying i really should take a look, only he wouldn't say why. He's an incredibly intelligent fellow though so i made haste.
After some research into what banks really are (how they operate makes my mental head look like a bastion of sanity) and how they work(-ed), it was very clear that the rise in house prices was fuelling a consumer bubble in which everyone was buying and borrowing more and more, borrowing against equity that didn't actually exist in any stable form, and spending at rates was waaay above inflation. Clearly, that could not continue. Because of how this bad 'fake' money has ended up everywhere, the economy is going to get very ill.
Want to know more? this is gonna get annoyingly bad for everyone who gives a shit about worldy possesions.
This is your fault, btw. People should stay within their means.
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TimMc
Gallente
SolaR KillerS
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Posted - 2008.09.16 08:19:00 -
[39]
Originally by: SoftRevolution
"Fiat money" is pretty much just what I understand as money. Britain hasn't had the gold standard (or the silver standard) for quite some time.
The whole world has been off the Gold Standard since after WW2. The debts and chaos incurred after that war ment a new money system was the only way it could be paid off, besides printing money anyway which would kill the value of the currencies and lead to hyper-inflation. Personally I see the benefits on this system, but something about it all being theoretical money really is dissatisfying.
I did business studies for 2 years and got a B, so I mostly understand the OPs things. Not as deeply as someone who did economics though.
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TU144 TEPPOPNCT'CMEPTHNK
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Posted - 2008.09.16 14:11:00 -
[40]
I admit i don't know much about Economics,
But i do know that if McD and KFC fold, were all BK'd and the brown stuff won't so really hit the fan as be in the deep fryer...
Then where will all those with Degree's be able to find work?
Yaaar be wantin fries with that Gorlden fried brownie
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Cmdr Sy
Appetite 4 Destruction
The Firm.
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Posted - 2008.09.16 17:33:00 -
[41]
Edited by: Cmdr Sy on 16/09/2008 17:34:15
Not for the first time we witness the spectacle of an insurance company borrowing money from the institutions to whom (and on whose debt) it sold insurance so it can pay out when they default.
I will try to avoid slipping into Attack of the Block of Text - I think this example of circular financing is accessible to everyone. It will break the way all spider tanks break, once enough gang members are dead.
And individual policies too... I hope central banks do not give them a penny. If I had, say, a life insurance policy, would I want to pay higher taxes to make the issuer "money good" while its management blows my premiums on, well, blow? And buy them their bonus with my savings while I'm at it? Uh...do not wish to play. Well, you may not always have a choice, but you do have a choice about buying them dinner afterwards.
I cannot believe there are still people out there with a shares ISA while the FTSE 100 heads towards 4500 before it has much of a chance of touching the 200 DMA, let alone where it is really going. How quickly they forget. Though probably not once this is over.
JAQUE, good link, that.
EVE CCG Trinity Booster |
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