stray
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Re: The financial system - it's completely fucked, isn't it?
Feb 16, 2009, 15:04
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Dude, lean hogs man, seriously, day trade lean hogs while it's worth it. Then buy some defendable acreage and stock up on some fine weaponry. ;)
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PMM
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Re: The financial system - it's completely fucked, isn't it?
Feb 16, 2009, 15:15
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It's almost Sister Ray.
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TheBear
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Didn't take long...
Feb 16, 2009, 15:32
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Check this piece in today's Independent:
"Let's admit that rate cuts will not end the crisis, printing money will":
http://www.independent.co.uk/news/business/comment/stephen-king/stephen-king-lets-admit-that-rate-cuts-will-not-end-the-crisis-printing-money-will-1623071.html
So dropping rates to zero isn't working, how does this help?
I agree stray, this is a momentous paradigm shift. It's going on right now and I fear no one has a clue what to do.
Got seeds? :)
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stray
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Edited Feb 16, 2009, 15:58
Re: Didn't take long...
Feb 16, 2009, 15:57
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TheBear wrote:
Yes, Yes I have. But said seeds produce combustible and not edible material. However, I believe said combustibles will have a considerably high intrinsic value in these end times.
Quantitative easing and price level targeting eh ? It's 'just-so' story time isn't it ? ;) I don't find his argument compelling, a couple of days of currency trading will fuck that dream right up. Assuming of course that not every single nation prints cash at the same rates, which they won't, so the problem still stands. Also, by inference, to me at least, he's saying the current model of inflation rate targeting caused these problems,...um... er... how ? Either that or he's saying it couldn't have cured or controlled it, which is spot on, it can't of course. Its Mercantilism-lite. The idea that you can do it to let prices rise to a certain level, then stop the presses shows a lack of understanding in how the wider market actually functions imo.
His argument (like all print money arguments really) is something economists can't make and still believe in the 'efficient' free market, so it's good for giggles there. Currency is an arbitrary scale now, and you can even trade futures in it's value (in a fashion), this would cause a mad rush of raw cash trading that would do a lot of harm.
This Stray analysis is made off the top his slightly squiffy head listening to 'Smoke - Another reason to fast' and therefore should not be treated as guarantees of return, nor valid in form, seek second opinions from other financial advisors.
Yep, it's more proof that nobody has a clue what to do.
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ron
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Re: The financial system - it's completely fucked, isn't it?
Feb 17, 2009, 02:55
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stray wrote: ... buy some defendable acreage and stock up on some fine weaponry. ;)
waywayway aheada u...
x
x
x
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Eduardo
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Re: The financial system - it's completely fucked, isn't it?
Feb 18, 2009, 13:23
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Bit wary of saying this, but there is part of me that is enjoying what's happening. Can the economy completely collapse, unseating multinational corporations from their positions of power & paving the way for a new local, smaller, tangible, economy?
Unlikely, I know. Most likely is that smaller business go to the wall & get swallowed up by the multinationals until there are only a dozen companies running the world. And in the transition between then and now we'll all probably lose our jobs and homes and pensions.
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handofdave
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Re: The financial system - it's completely fucked, isn't it?
Feb 18, 2009, 14:15
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I don't think most people fully think out the fantasy of a post-multinational corporate future. Sure, it'll mean more local control of resources, but also local protection of them from a world that's suddenly been broken up into not one or two large entities, but a myriad of them, with fewer scruples and nothing like international law curbing their methods.
I imagine that a collapse of the world economy would merely be replaced, after a period of chaos, with a neo-feudalist system of city states and independent enclaves. Some few may succeed in being utopia-lite agrarian hippy villages, but most will probably involve a bitter taste of old fashioned servitude to some lunatic with a private army.
Who runs Bartertown?
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Eduardo
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Re: The financial system - it's completely fucked, isn't it?
Feb 18, 2009, 15:11
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I don't think that's what I'm thinking of. Why does everything have to be one side of the fence or the other? After collapse people will want a return to normal, but will be highly skeptical of the worth of financial assets. I predict a return to production values. I'm not imagining the end of capitalism or a totalitarian state. Just an economy made up of smaller entities who are not hell bent on world domination. A proper competitive market in fact, without the barriers to entry that globalisation & all it's associated beaurocracy entails. Big companies love beaurocracy - it keeps the riff-raff out.
And if governments want to intervene to protect their infrastructure & industry (currently only okay for banks!) they can do so, without being told they're anti-competitive and breaking the law (according to the ever-expanding-but-decreasing-in-number companies who "own" the market?)
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stray
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Edited Feb 18, 2009, 15:16
Re: The financial system - it's completely fucked, isn't it?
Feb 18, 2009, 15:15
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Do you mean protectionism ?
Sorry, I see what you mean, but you seem to be describing the efficient market, sort of libertarianism in a way, but then you're talking about rules that sound protectionist.
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Eduardo
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Re: The financial system - it's completely fucked, isn't it?
Feb 18, 2009, 16:33
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I do mean protectionism - so a country could own it's utilities and public transport services for instance.
Or subsidise projects to provide low cost (or free) power, heat, light, water etc to folk who can't afford it. (I'm thinking of 3rd world countries who have been forced to "liberalise" their utilities as a condition of accepting funding from IMF or the world bank.)
Why must an economy be either market or planned? Why not mixed? (aware that it IS mixed by the way!)
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