Delphis wrote:Ummm, are you serious!?
The stable USD and JPY are both incredible poor usage of oxymoron's... Please respond...
FireJack wrote:After having read that crash course (all 20 chapters very good watching) you begin to see just how Fark we are and how hopeless the positions of people like money are. Ive been working on food security but for financial security I think buying and keeping gold may be the best bet. People like money there can sit around and imagine everything is going to be okay i'm going to prepare.
frankthetank wrote:Thank God the job situation here in the states looks to be improving. Lots of new businesses in town. Tons of high tech jobs coming in. Building boom like crazy. People are spending like there is no tomorrow.
NOT
Hogan wrote:Not in the mood for this crap. SweetSmellofTroll now on ignore list.
SweetSmellofMoney wrote:Hogan wrote:Not in the mood for this crap. SweetSmellofTroll now on ignore list.
I suppose you really picked the wrong Photo to represent yourself with!
LOL! Thanks for placing me on ignore as I had found you dribble on Doom rather tiring to put it quite nicely!
Surely there will be many Mismanaged Hedge Funds and even a few Shadow Banks will get squeezed out but more important the numbers of speculators have already proven their inabilities to cope with the current situation. And once again they will miss the markets!
americandream wrote:As long as there is work and exchange, there will be value in money. So long as that exchange process has a latent surplus and I think its evident to all that there is a vast surplus in the growing Asian economies, there is ample room for recovery. I suspect that the current threat to confidence, the overvalued Western housing sector will shift to a rental model as tptb oversee its transferance into ownership by funds in these Asian economies.
americandream wrote:You may have a good point there money me old mate. I'm a marxist and I've been maintaining all along that this is not THE crash but a correction in over exhuberant asset values. A nasty correction yes, but a correction all the same. It stuns me that there are some on here who believe that money is simply printed out of fresh air when it is evident that money is backed up by the labour and energy surplus contained in the worlds labour force and oil, magnified in the value adding process of exchange, into profit.SweetSmellofMoney wrote:I suppose you really picked the wrong Photo to represent yourself with!Hogan wrote:Not in the mood for this crap. SweetSmellofTroll now on ignore list.
LOL! Thanks for placing me on ignore as I had found you dribble on Doom rather tiring to put it quite nicely!
Surely there will be many Mismanaged Hedge Funds and even a few Shadow Banks will get squeezed out but more important the numbers of speculators have already proven their inabilities to cope with the current situation. And once again they will miss the markets!
As long as there is work and exchange, there will be value in money. So long as that exchange process has a latent surplus and I think its evident to all that there is a vast surplus in the growing Asian economies, there is ample room for recovery. I suspect that the current threat to confidence, the overvalued Western housing sector will shift to a rental model as tptb oversee its transferance into ownership by funds in these Asian economies.
ReverseEngineer wrote:Not evident to me AD that there is a surplus in "growing Asian economies". Rather I would suggest they are just delayed in suffering the effects of the global meltdown because their economies were built as a labor force to serve the west.americandream wrote:As long as there is work and exchange, there will be value in money. So long as that exchange process has a latent surplus and I think its evident to all that there is a vast surplus in the growing Asian economies, there is ample room for recovery. I suspect that the current threat to confidence, the overvalued Western housing sector will shift to a rental model as tptb oversee its transferance into ownership by funds in these Asian economies.
The issue for them would be that with reduced demand, their labor suplus is RIDICULOUS. Far too many people in China for China to self sustain. they are in more desperate straights than anyone else, per capita.
Any surplus the Asian countries might have had they loaned out to the West, its Irredeemable Debt that never will be paid back. As a Banker, the Asians are as Bankrupt as Lehman or Bear Stearns.
Labor is of course the true source of money, but the fact is that due to Overshoot the value of Labor is depressed below the substence level. Enough people have to DIE here to make the labor worth enough to keep a person alive. Until that happens, no Marxist solution will work. Sorry.
americandream wrote:Consequently, the fact that there is still the surplus potential in Asia does not translate into maximised benefit per capita in some ultimate and indefinite capitalist nirvana. That maximisation will, I suspect top out at 70% (and I am being generous here).
ReverseEngineer wrote:This specifically is the postulate I am taking issue with. There is NOT still surplus potential in Asia. The specific areas of China and India which might have some surplus resources are far too overpopulated for that resource to be in "surplus".americandream wrote:Consequently, the fact that there is still the surplus potential in Asia does not translate into maximised benefit per capita in some ultimate and indefinite capitalist nirvana. That maximisation will, I suspect top out at 70% (and I am being generous here).
They have been living on borrowed time and borrowed wealth of the world like everyone else. With a monetary system collapse, these individual areas will have to fend for themselves, both here in the US and in India and China. None will fare well, and Marxism most certainly will not resolve the problems of overshoot. Only death will do that.
Novus wrote:I agree the credit crisis is near its end but not in a positive way. We are rapidly coming to the point where the only way out is world wide credit default.
americandream wrote:The fact that the outcome will be a collective one seems a reasonable inference given that at that point in history we will have exhausted all others ranging from pure markets to corporatist interventionism and failed. A dying planet may possibly alter this picture otherwise I have yet to be convinced by any of the other options.
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