The Greenspan Depression?

Discussion in 'Your Bloody Soap Box' started by limerickman, Aug 13, 2007.

  1. Wurm

    Wurm New Member

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    That's what I thought - utter coincidence. The same type of coincidence that keeps medical care excessively high/unaffordable, and why about 1/2 of all non-commercial bankruptcies are medical-related.
     


  2. Bro Deal

    Bro Deal New Member

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    There are a lot of coincidences that occur when the middle class gets robbed. If you did not know better, you might think that corporate crooks were making the laws to benefit their scams. That could never happen in our democracy though. Never, ever, ever.

    We all know that an introductory college textbook on physics should cost $150. Even though it has the same Newtonian physics, electromagnetism, and optics that were being taught fifty years ago, and anyone can go to Barnes and Noble to pick up books on the most fringe of subjects for thirty or forty bucks.
     
  3. Crankyfeet

    Crankyfeet New Member

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    Bro, those guys have to recover their costs. Do you realize how much bribery they have to partake in to get their book on the recommended text list? Or is this the subtle point that I missed in your post?

     
  4. Wurm

    Wurm New Member

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    Hein-V, the Wall-Streeter's are somewhat to blame yes, but I would say that Greenspan has never been seen sporting a halo, (at least not by any of the Great Unwashed):

    http://globalresearch.ca/index.php?context=va&aid=6239

    and,

    http://globalresearch.ca/index.php?context=va&aid=6209

    ...with a bit of help from the (anti)Bankruptcy Law of 2005 of course, which Greenspan AND Wall Street well knew was going to shift the onus from the predatory lenders to the under-compensated worker/credit-maxxed consumer.

    So! Easy credit for all and a chicken in every pot.

    Until the sh!t hits the fan and you find that the Fed now won't let you wipe the slate clean through bankruptcy, but they WILL be nice enough to let you spend the rest of your life paying it off.

    A great scheme, as long as you're not on the wrong end.
     
  5. Hein-Verbruggen

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    Greenspan did not invent Wall Street steroids and Hedge Funds:

    Neither did he scream or yell about them.

    CDOs, SIVs, SPEs, dishonesty, hedge fund secrecy, Big Bank/Broker/HF partnering, lack of disclosure, waived underwriting, neg-amortization balloon loans, speculation, greed and off-shore banking lead to this global lack of trust (credit crisis). These methods undermine central banking power.

    The commercial credit market is broken. Now the economy is at risk.

    Major stimulation is required. By many means.

    Audits, regulations were never in the mix--and they won't help now. It would be nice to have trust in the future---but that is like wishing for clean (drug free) cycling. It just won't happen.


     
  6. Wurm

    Wurm New Member

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    But Greenspan and his partners in crime did nothing to stop it. He and his ilk knew exactly what would happen, and in fact encouraged it by his policies. "No regulation" is the mantra of these theives and crooks - under the rubric of "the free market" - and once again we're seeing the results of dereg run amok.
     
  7. Hein-Verbruggen

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    Well let's shoot Greenspan then. He is still collecting fat speaker fees.

    Then what?

    Wall Street will never do the right thing--yet they--not central bankers now run our unregulated theater show.

    Debasing currency (via a loose monetary policy) is the only real trick central bankers have left (and open market junk paper injections/swaps)--and trash talk.

    No hedge fund regs, audits or bank supervsion is on the table. The ponies are out of the barn anyway.



     
  8. Bro Deal

    Bro Deal New Member

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    Find an appropriate title for the attached graph--other than "We're fucked."

    Does anyone have Shiller's book about housing? I have his "Irrational Exuberance" book, and it was a decent read of a subject that has been done before. His book on housing, which delves into the myths of real estate as an investment and looks to be ground breaking, should be very interesting.
     
  9. Wurm

    Wurm New Member

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    Naw, too easy. I say we string him up by his shriveled nut sack 'til he begs for some "regulation" of his punishment.

    "Then what?" The obvious answer is serious and meaningful gov't regulation & oversight, well beyond what exists today, AND real campaign finance reform. But most pols seem content to let the foxes run the henhouse, and won't willingly cut off their own gravy train.
     
  10. Hein-Verbruggen

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    Lim's lost library:
    "The Smartest Guys in the Room" The amazing rise and fall of Enron
    McLean & Elkind 2003

    "Everything you know is Wrong" edited by Russ Klick 2002

    "Evidence Dismissed" Tom Lange & Philip Vannatter 1997

    "In Contempt" Chris Darden 1996

    "Complete Conditioning for Football" Michael Arthur/Byran Bailey 1998

    Lost books leave gaps.
     
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