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Teetering on the brink of the new Depression
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Moon Cat
9577 posts

Re: Teetering on the brink of the new Depression
Sep 19, 2008, 11:41
Spot on.

I don't know if you saw it but a few months ago there was a documentary on the gogglebox called something along the lines of "Who really runs the world?" and I believe that the guy that presented it has also written a book along a similar theme called "The Super Rich". Not read it, but I'm keen to have a scan at least.

The gist was basically what people have been saying here - how the megarich have made even more dosh from all this chaos and how they've used the complete lack of regulation in these areas to basically win-win gamble with other peoples money even if the 'other' people 'lose' themselves.
I must confess, some of the economical and financial aspects of it were positively arcane and impenetrable to my feeble fiscal mind, but some of the processes and outcomes were fairly clear.

The very language used is surely indicative of how people would be fully aware of how things might pan out for those further down the ladder; 'sub-prime', 'derivatives', 'speculation' - it's not language that inspires confidence is it?
A few big players were interviewed and only one of them showed any sign of conscience at all. He argued for regulation and admitted that some of his colleagues and people in 'the business' just didn't have an iota of concern about repercussions regarding the less wealthy and fortunate. In fact, the nature of the people depicted amply illustrated the long held notion that many big-business behemoths have borderline, if not outright, sociopathic tendencies - they want to make shitloads of cash and they absolutely do not give a fuck about consequences.

Some of these people were openly enjoying the downturn saying how they stood to benefit becasue they would have the opportunity to buy out struggling business for a pittance of their former worth, hovering like vultures, wait til the dust settles and build 'em up again to make more dosh.

Another beneficiary of all this was a guy who ran a business that organised big events and extreme sports and so on to entertain the super-rich. He said some people had made so much money that they literally did not know what to do with it! His company did things like "Have a meal in Antarctica", helicopter to Harrods and buy everything, "Go into space on a platinum rocket with your initals on the side" - totally mad things that cost obscene amounts of cash to entertain the rich and bored!

So, you know, if any of these folk go down with the ship, I'll be joining some of you on planet smirkalot. x
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Re: Teetering on the brink of the new Depression (stray)		 Replies:
Re: Teetering on the brink of the new Depression (handofdave)
Re: Teetering on the brink of the new Depression (nigelswift)
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