A dose of economics
Hey guys
Not sure how many of you have followed, or are interested in, the current US (and global) economic crash.
But this article gives a really simple and elegant description of what got us here.
the david x.liās biggest mistake was the dumb assumption that humans are intelligent rational beings, rather than greedy, manipulative, powerhungry tyrants.
sad thing is its youre average citizen who will suffer the most, and not the people who actually owe $11 trillion, whoās lives will go on as normal, with there powerboats and nuclear tipped laser bees
I think they forgot to add a dash of Murphy Law to Mr Li formula.
You should see the state of the economic and political situation here in Ireland. For years the government, banks and property developers were giving each other backhanders so that they could all earn as much money as possible. Now with the banks and property market in crisis, the government are taxing the hell out of citizens to try and bail all their buddies out!
Our policeforce today had a demonstration against the latest tax called the āpension levyā which is costing civil servants thousands in terms of their pension funds.
Damn thats not good Kid, you would trip out that alot of Citys in California are filing for bankruptcy. You should look into a city called Vallego, its said to be the 1st urban ghost town on the west coast.
I think that article partly covers what got us here in the first place but its far from the whole story behind the crash - its really such a complicated issue and admitedly its hard to explain the entire thing in an article that size.
Certainly does make some points that are quite true though.
Ha, Ireland is gonna have plenty of semi-ghost towns where massives housing estates have been built in satellite towns but now no one is buyinā them due to the market crash.
The problem in Ireland is that the two biggest political parties have the exact same political philosophies. Neither of them lean to the left or the right. The political divide exists only because of their historical rivalry here, which they continue to allow rule the political decisions of modern Ireland.
Thereās a whole lot of anger in this country right now!
the money system is shit anyway, lets go back to gold
Or set up our own DJTT socialist paradise on a tropical island!
Didnāt really work for Cuba, but we got the love of music holding it together!
Itās not the whole story, but I thought it was an interesting look at what really brought us here, when you boil it all down to a literal event.
Doesnāt excuse the people who fucked us, though. And boy did they fuck us.
Did they ever, while they are still living it up while people like me are on the bones of our arses.
itās true. And give it 2 yearsā¦ Iād bet US currency that they are going to propose an international currency to be recognized by all governments.
yay!.. 
I have spent alot of time researching the economic colapse and there are so many things that point to this being designed to fail to begin with - dodgy shit, i think this is play for the people up top to take even MORE power.
Oh most definitely. I work in the financial sector, and while I didnāt know what a Bear Stearnās was when it collapsed Iāve learned a lot since then. When you sit and really break down what they did it sounds like they intended for the middle class to not exist in the end.
yeesh noone listens to me when i get on a rant about thisā¦
@dvls
ive heard rumors of that, but jus thought it was another of my crazy hippy conspiracy theories heh. wats the actual plausibility of this? and what bento said?
Well if you look thoughout history theres allways someone doing stuff like this(just not on such a global scale), its human nature - i dont think just because we are in 2009 that it makes any difference.
Iām not a serious financial analyst or anything, and a lot of my opinions are based off of what my overly intelligent bosses have said, mixed with having access to some really well written articles.
I think that the main reason this all happened is cause people saw the opportunity to use mathmatical formulas to make a metric fuck ton of money. They didnāt care about the individual cause they never saw it, or had to think about it, and they made SO much money in the short term that they didnāt have to care.
I think that if things keep going to shit non-stop there is a VERY slim chance of the real worst case scenarioās showing up (no middle class, global currency, etc.). The realistic worst case, in my mind, is there only being 4 banks globally (JPMorgan Chase, Bank of America, I canāt remember the other two likely survivors off the top of my head). This would be terrible because these are global entities and they could realistically completely control money flow to every country in the world. Then you have the risk of currencies being regulated by the banks as opposed to the governments.
This is all really unlikely stuff, but the slippery slope gets really fuckin scary as you keep falling.
As to what Bento saidā¦ yeah, the people who were rich got really fuckin rich. And everyone else lost a lot of money. And then when the banks went to the US government and said āHey, we fucked up and all, but if we collapse then everything falls apartā the government got scared and gave em money with practically no oversite.
I donāt think we should nationalize the US banking system cause itās just way too massive. But the bad assets should not be taken off the banking sheets. A lot of the reason those bad assets exist is because of the banks.
ughā¦ who wants a nice, goold old fashioned bloody revolution?
The US banking system is already owned by the banks, not the people :
Seriously seriously seriously scary stuff, the founding fathers of the US warned everyone about this but no one listened, now its happened and were getting reamed for it big time.
+1 on the revolution, we need to take back what was ours to begin with.
Listen closely to the lyrics, its all so true.
at risk of going off on a tangent i argue that its human conditioning as opposed to human nature
I donāt agree at all, Kaon. I am of the mindset that in the state of nature we have no rights, not even the right to live. I think itās Hobbes that says that, and Locke says we still retain the right to live, even in the state of nature. I could be wrong on this cause itās been a LONG time since Iāve studied philosophy or political theory.
I think itās part of human nature to take from others for ones self. Laws are in place, a sort of sacrifice of our rights to steal, kill, and horde, to protect us from that. I donāt think people would live in peace in the world under any circumstances, especially if there were other people around them who had cooler shit.