Re: Junk Borrowing Binge Benefits Wall Street Above All
Posted:
Wed 18 Oct 2017, 07:05:40
by Newfie
To be frank I have trouble following these articles. There is so much jargon that I've no interest in becoming familiar with.
In my world financial transactions SHOULD be relatively transparent and comprehensible to someone with an above average IQ. If not then they have become overly complicated and are likely a cover for fraud.
Interestingly yesterday, while captured on a transit-Atlantic flight, I watched a movie on Bernie Madoff. It starred DiNero, wonderful actor. It spurred me to read a wiki bit about Madoff who was HIGLEY critical of the SEC. the wiki article noted that there were a number of credible complaints about Madoff, that many investment houses would not deal with him, and the one SEC investigator who did want to follow up was taken off the case.
Re: Junk Borrowing Binge Benefits Wall Street Above All
Posted:
Thu 19 Oct 2017, 18:35:08
by onlooker
This whole frenzy of borrowing in just totally overboard in makes me think of this article I read recently of how all our society especially Economics is just one big Con. Well, nothing epitomizes this more that this the staggering Debts loads now of Countries down to families. And Wall St. Banks continue to squeeze proft out of it. And how long before everyone wakes up to the realities that nothing is healthy anymore in the Economy, it is just a walking zombie addicted to Debt.
http://charleshughsmith.blogspot.com/20 ... onned.html
Re: Junk Borrowing Binge Benefits Wall Street Above All
Posted:
Thu 19 Oct 2017, 19:03:59
by onlooker
pstarr wrote:onlooker wrote:This whole frenzy of borrowing in just totally overboard in makes me think of this article I read recently of how all our society especially Economics is just one big Con. Well, nothing epitomizes this more that this the staggering Debts loads now of Countries down to families. And Wall St. Banks continue to squeeze proft out of it. And how long before everyone wakes up to the realities that nothing is healthy anymore in the Economy, it is just a walking zombie addicted to Debt.
http://charleshughsmith.blogspot.com/20 ... onned.html
Does he understand declining net energy and peak oil?
Looks to me like he does "Now that the whole Bernie Madoff scam of a system is unraveling, two self-reinforcing dynamics are in play: our leadership, elected and unelected alike, are doubling down on the lies because there is no alternative--TINA. What does a liar gain by confessing the whole prosperity thing is
illusory, and darn it,
we can only spend what we produce in real-world surplus? Short answer: nothing, because that's not going to win elections or gain the consent of the governed.