tag:blogger.com,1999:blog-8746692.post2188150588146082120..comments2024-03-29T02:03:49.151-04:00Comments on History Unfolding: The financial messDavid Kaiserhttp://www.blogger.com/profile/05020082243968071584noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-8746692.post-82969661840089270252011-03-20T13:39:18.508-04:002011-03-20T13:39:18.508-04:00Excellent documentary recently released titled INS...Excellent documentary recently released titled INSIDE JOB about this same subject...I highly recommend it.Anonymoushttps://www.blogger.com/profile/03094085863846732233noreply@blogger.comtag:blogger.com,1999:blog-8746692.post-63364243248058453792011-03-15T18:04:31.057-04:002011-03-15T18:04:31.057-04:00"All said, it rather reminds one of the situa...<i>"All said, it rather reminds one of the situation in France, just prior to the French Revolution, doesn't it? You may have said that somewhere, it hangs vaguely in my mind..."</i><br /><br />Me too. I read somewhere that the young Tunisian gentleman who immolated himself as an act of protest was indeed a college educated (computer science) person who was refused a permit to open a vegetable stand. <br /><br />I am a college (MS) educated white male approaching 50 years old and I haven't been able to find a decent job since I was layed off over 5 years ago after working for the same company for over 14 years. I tried the self employment thing and it worked for about 3 years, then I started to do night janitor work to make ends meet.<br /><br />Now my hours have been cut to one or two hours a week and my meager savings are getting used up quickly. I don't see anything positive for me on the horizon, nothing to really live for other than survival and a hope to not be a burden on my family in the future.<br /><br />I thought I could work my way out of any situation, take any job, do what I need to do to survive. But I don't know now, the jobs just aren't out there, unless you possess some kind of special skill set or know someone.<br /><br />Without prosperity, there is no liberty. Something's gotta give eventually.Cliffnoreply@blogger.comtag:blogger.com,1999:blog-8746692.post-60014476825003629312011-03-08T12:02:00.466-05:002011-03-08T12:02:00.466-05:00"The Fourth Turning" is disturbing, mayb..."The Fourth Turning" is disturbing, maybe because we're alreasy in it? Did it start with 9/11, or with the housing crash & financial meltdown of 2008-09? (Are we there yet?).<br />Will it be a new Renaissance or Ameggedon? <br />Tructor mantructor manhttps://www.blogger.com/profile/18214448074424409144noreply@blogger.comtag:blogger.com,1999:blog-8746692.post-5860970692631447922011-03-06T12:59:17.957-05:002011-03-06T12:59:17.957-05:00Apparently, there is Tea Party in France too.
Mar...Apparently, there is Tea Party in France too.<br /><br />Marine Le Pen poll rating shock for French politics<br />Marine Le Pen became National Front leader in January<br /><br /><br />An opinion poll suggesting far-right leader Marine <br />Le Pen could win the first round of next year's<br />presidential election has caused a shock in France.<br /><br />http://www.bbc.co.uk/news/world-europe-<br />12660329Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8746692.post-37276762459729144682011-03-06T09:42:34.296-05:002011-03-06T09:42:34.296-05:00Dear Mr. Kaiser,
Thank you for your post. I reall...Dear Mr. Kaiser,<br /><br />Thank you for your post. I really appreciate the way you allow intuition, experience and feeling into your stream of thoughts, and the way you share these with us. So many scholars limit themselves to executing their trick (especially economists - and that's not even science), thus eschewing the full portent of their humanity, so to speak.<br />On topic: I saw some great graphics at the motherjones website (http://motherjones.com/politics/2011/02/income-inequality-in-america-chart-graph), which show all the more the way the system is rigged. By now, the whole thing is quite extensively charted. It seems to me that the very many are completely 'enslaved' (that is not the 'mot juste' here, but it's as close as I can think of) by the very few. One can sum it up in just two words: 'class' (in the marxist sense, surely) and 'privilege'. As commenter Cliff put it: 'it's a closed loop system for those with the connections'. I'd just replace the words 'those with the connections' with 'those who are in'. As Cliff sees very rightly, chances are small he'll ever be 'in'. Neither will I, or you, for that matter.<br />All said, it rather reminds one of the situation in France, just prior to the French Revolution, doesn't it? You may have said that somewhere, it hangs vaguely in my mind... somehow it all seems to add up to a rather explosive situation; comparing the USA to the Weimar Republic, the economic circumstances to the eve of the French Revolution and the balance of power in the world to, let's say, about 1914. Not to speak of jingoism, religious fanaticism (including populist demagogues and economic ideologues) and general confusion due to information overload and social incoherence. <br />Some interesting times we're living in...PJ Catshttps://www.blogger.com/profile/14792450374711478295noreply@blogger.comtag:blogger.com,1999:blog-8746692.post-65252994404874713262011-03-05T19:15:16.911-05:002011-03-05T19:15:16.911-05:00PS
Attached seems to be a discussion I received, ...PS<br /><br />Attached seems to be a discussion I received, in an email today, of the issue you have raised here, re borrowing from the Fed by investment banks.<br /><br />http://www.realecontv.com/page/1221.html<br /><br />All the best,<br />GMBozonhttps://www.blogger.com/profile/18078858723231122013noreply@blogger.comtag:blogger.com,1999:blog-8746692.post-51236580758091502902011-03-05T16:35:49.549-05:002011-03-05T16:35:49.549-05:00"It should be blamed for its new function of ...<i>"It should be blamed for its new function of financing a continuous speculative orgy that serves no useful social purpose."</i><br /><br />Investment used to mean placing hard earned money into hands of entreprenuers so they could build products or provide needed services. Get loans to expand business and provide opportunities to more Americans. God, do I feel like such a fool for believing that this is the way to make money in this society. (half -snark)<br /><br />I feel beaten down by this economy. I tried really hard to adapt to the economic realities, but now I understand, it is impossible for those with moderate means to ever work our way out of this.<br /><br />There's no money for innovation, all investments are in the churning of the markets with other peoples' money and raking off the top in the form of fees and interest. The fix is in, it always has been.<br /><br />You have illuminated what I have known all along, but couldn't see the reason. Investment in our new global economy is no longer about innovation and creation of products for the marketplace. It is all about churning bubbles into the market with other peoples' money and skimming the profit right off the top. Its a closed loop system for those with the connections.<br /><br />Combine this system of economic strip mining of our wealth, with multi-national corporations which, not who, (they are not freakin' people) take our jobs and merge third world living standards with first world technology are destroying what our parents and grandparents built over generations.<br /><br />Russell Means was right when he said that we are all indians now.Cliffnoreply@blogger.comtag:blogger.com,1999:blog-8746692.post-5121456654734304512011-03-05T15:22:49.888-05:002011-03-05T15:22:49.888-05:00Excellent remarks.
Many thanks. I am finally fin...Excellent remarks.<br /><br />Many thanks. I am finally finishing up Lewis' The Big Short, and it contains some illuminating insights on how the Wall Street finance industry was changed, and greatly enlarged, by creation and proliferation of debt obligations, especially the mortgage backed debt obligations which were then packaged further for gambling purposes.<br /><br />This coincidentally was a topic Lewis had actually touched on in his early book, Liar's Poker; great stuff, and also a must read.<br /><br />all the best,<br />GMBozonhttps://www.blogger.com/profile/18078858723231122013noreply@blogger.com