Makes me laugh with all the socialist's saying that it is all the bank's fault and pointing the finger at everyone because of their own demise. The whole reason the world is in this financial mess is because of people's greed. All the bank's did was provide a service that people wanted not what they needed. The bank's never put a gun to a person's head and said sign here. Tin foil hat brigade will pipe on about the NWO but in reality it is the 99% that are making it happen. Societies are leveraging to the hilt then turning to the government and saying you need to help us out. I think I am rambling here but I cringe everytime I see imbeciles on the idiot box trying to talk about the problems in today's world and pointing the finger at everyone else but them selves.
It's more about bailing out private companies by public money, hows that ok? "Too big to fail, but never too big to bail", don't get me even started on the bonuses. Agreed world is in financial mess because of greed, so I believe it was the "fault" of customers of MF Global to actually trust company, not Corzine eh? I never took any loans, and I'm the member of 99%. How is any finger pointed at me?! Please explain. Dunno, maybe im too greedy working for money, where I should be working for free? Am I close?
Makes you wonder .................................... Quoted from Ross Greenwood of Money News. What is a Billion? How many zeros in a billion??? This is too true to be funny... The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of its releases. A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no-one walked on the earth on two feet. E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it. NOW THIS IS UNDISPUTABLE!!! NO MATTER WHAT YOUR POLITICAL LEANINGS. Quoted by: Ross Greenwood of Money News.. Right now the Federal Government is at pains to tell everyone - including us the mug-punters and the International Monetary Fund, that it will not exceed its own, self-imposed, borrowing limits. How much? $200 billion. And here's a worry. If you work in a bank's money market operation; or if you are a politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily. but every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country. Just after 5 o'clock tonight I did a bit of math for Jason Morrison ( Sydney radio presenter). But it's so staggering its worth repeating now. First though; here's what Ex-P.M. Rudd has been saying about - what he calls - these temporary borrowings Remember Those Words : Temporary Deficit. The total Government debt could end up around $200 billion. So here's a very basic calculation .. I used a home loan calculator to work it out..... it's that simple.. $200 billion is $200,000 million. The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here's where it gets scary ..... really scary. The repayments on $200 billion, come to more than one and a quarter billion dollars - every month - for 20 years. It works out we - as taxpayers - will be repaying $15.4 billion in interest and principal every year .. $733 for every man woman and child - every year. The total interest bill over the 20 years is - get this - $108 billion. Remember, this is a Government, that just 18 months ago, had NO debt. NO debt. In fact it had enough money to create the Future Fund, to pay the future liabilities of public servants' superannuation, and it had enough to stick $20 billion into the Building Australia Fund last year ..... Alan Jones Comment...... this is frightening: Hmmmmm?? He continues... a note that was sent to me which explains that the six leading members of the Government, from Mr Rudd down, the top six have a collective work experience of 181 years, but only 13 in the private sector. If you take out of those 13 years the number that were spent as trade union lawyers, that total 11, of the 181 years,only two years were spent in the private sector. So out of those 181 years: - no years spent running their own business - no years spent starting their own business - no years spent as a director of a family business or a company - no years as a director of a public company - no years in a senior position in a public company - no years in a senior position in a private company - no years working in corporate finance - no years in corporate or business restructuring - no years working in or with a bank - no years of experience in the capital markets - no years in a stock-broking firm - no years in negotiating debt facilities with banks - no years running a small business - no years at the World Bank or IMF or OECD - no years in Treasury or Finance. But these people have plunged Australia into unprecedented debt, and now threaten to torpedo employee share schemes, which they plainly don't understand. Well, in a way you can't blame them. It's clear the electorate did not do their homework, because the Gov't is there by right. Are but they are Labor and people vote for them because Labor is good for the working family right??? If you have read this you may like to pass it on to your friends to help educate a littleas you, them and I, will be repaying the above.
If you can convince someone that giving you their money will benefit them in some way, you're a successful capitalist. The banks convinced governments that giving public money to the banks in the form of bailouts would benefit the people those governments represent. The system is working exactly as its supposed to.
I don't think so, as most of the people in the government are former bank employees anyway ..... why would they have to convince them? Yes it all was part of the plan, now the normal people are being blamed.
How can you possibly equate private speculation with one's own capital with government commiting your future income to private, banking monopolies?
If you want to see how socialism ultimately corrupts and fails those it is supposed to assist, have look at the plight of aboriginal Australians. Didn't Gillard just announce she was stepping up the Intervention program started by Howard?
Ozboy.. Now lets have a look at unfunded state superannuation funds.Now that is real scary! Every year from now on state budgets will have to find $$$$ out of their budgets to pay out generous super payouts to all the baby boomers who will be retiring in the next 20 years. There is only one state that put the super fund contributions aside to pay for their future super payouts and that was Qld. The other states spent their state government super contributions to fund their re-election prospects. Now where do I wonder did the Federal Government get the money from the Future fund from? Did they sell any of the silverware to get it..At least all the federal politicians, judges, Armed forces, police and federal public servants will get their payouts when they reach the grand old age of 55. Oh they work so hard! At least the workers who have a SMSF will have a chance of getting some fiat when they retire..I hope that they get what they plan for. Now lets talk about how much money is owed by the private citizens to buy houses, cars and consumer items..It is so large that Australian Banks have to borrow overseas as Australians do not save enough to finance such extravagance.. Now when its election time, party a and party b, give out all the goodies to buy your vote.. List of Bribes offered.. Tank rebate Solar Hot water system rebate Solar panels rebate 1st home buyers grant baby bonus $900 Bonus for almost every one in Australia Pensioner bonus $1400 single/$2100 couple Hd Set top box for pensioners Child Care Assistance Scheme Lap top Computers for every child in Australia Conversion to LPG gas for cars 1 cent a litre off petrol tax (cost $300M) Aged care subsidies Murray Darling Water Buy Back There are probably plenty more that I can't recall..Now we all have our noses in the trough. Oh how the politicians must laugh at the black sheep and the white sheep as they are tricked by the political sheep dog politicians. Give the dog a bone for they are so smart at herding all us sheep..Now is the time to become a GOAT. If there ever is a complete financial collapse, just imagine the misery that will be bestowed on the average Australian Citizen.Will I feel sorry for them..NO NO NO, I wont. We all have had years and years of good fortune but have we prepared for the bad ones..NO! NO! NO! We havn't! I have no wheelbarrow to push for any political party as I am a political atheist . IMHO there is no political party in Australia that is prepared to tell the truth about the financial tsunami that may and probably will engulf us in the near future. What will the Politicians say if it happens? The standard answer will be Its easy in hindsight. Ozboy what you posted is obviously right but it is only half of the story. All debt above a certain level is a danger to us all.. Happy Christmas Fellows and Gals..Spend up and play the game..Fiat, silver and gold are old hat, whip out the credit card and help out the retail trade and the workers of China. End of rant Regards Errol 43
Millions and Billions [youtube]http://www.youtube.com/watch?v=NaY4OeSbN30[/youtube] [youtube]http://www.youtube.com/watch?v=8aRor905cCw[/youtube] Just listen to the lyrics and contrast society attitudes and you have it. It's all about moral hazard. The rule of law is lost.
All the banks did was provide a service? Rubbish. What was Greece's borrowing rate before the Euro? Answer was a lot higher than after the introduction. What changed? Nothing on Greece's ability to pay back debt, nothing at all. What did change is the banking sectors evaluation of debt. Banking is a risk management business so wether it be sub prime in the US or Euro banks lending insolvent nations money the business is the same. The banks who lent the money knew that now(after the Euro introduction) the German and other stronger nations were tied to Greece, that they could lend money at cheaper rates knowing that a bailout would happen if things went bad. It was effectively having Germany guarantor a loan for all the crap (more) socialist countries with horrible fiscal policies. What should have been happening was those Greek bond rates should have been rising much much faster much much earlier. It would have sent free market signals for Greece to stop borrowing. But the banks were ready to keep handing out the cheap money to governments that pandered to their citizens who want more for less. That is the biggest failure of democracy. What needs to happen now is to let Greece and any other default in the free market and the other nations needs to look after their own interests. Not one bank or nation should be getting bailed out. This is close to topping the biggest rubbish I have read in a comment from you. Your whole idea of Capitalism is completely messed up. What we have had over the last decade is not capitalism. It's a corrupt veneer of it.
No, it's not. This is capitalism's natural tendency. You need to get the idea out of your head that something went wrong in capitalism and it became corrupt. The principle at work is called the Principle of the Centralisation of Capital. I'll explain it in very simple terms. 1) You have a free market capitalist system, many different firms competing to maximise their profits. 2) The free market cycle goes through booms and busts - it's cyclical. 3) When a bust occurs, those weaker and less competitive firms go under and the stronger ones survive to live through the next boom cycle. 4) Often, in the bust period, the firms in the safer positions will strip the assets of the weaker firms that go bust. In other words, the most competitive firms actually get STRONGER in a bust by building up their capital asets in preparation for the next boom. 5) In a bust, the market needs to clear out all the unused production capacity before a base for growth can begin again. 6) Now, the problem is this - as the boom bust cycles continue, the ones that gotstronger in the last bust are more likely to continue getting stronger. These firms are more able to resist the natural market tendency to clear out unused production capacity. They have many other options to save themselves and can avoid bankruptcy. For example they can let go of subcontractors, mothball factories when they should actually be sold, outsource functions overseas etc etc. They are able to resist natural market forces. 7) The result is that the natural market tendency to consolidate capital assets works AGAINST the natural market tendency to clear out production capacity in a bust. And that's where we are today. Even if you made all the big banks fail and all the large mega coroporations that should go bust actually go bust, it wouldn't help in the long run. Because the natural forces of capitalism will just lead us in this direction again. The contradiction is: Market Tendency of Centralisation of Capital vs Market Tendency to Clear Out Uncompetitive Capital You can see the evidence of capital centralisation everywhere. Just take the auto industry. In the 1920s there were dozens of independent car firms. Today, how many auto conglomerates do we have? About 10 that own 90% of the brands in the world. Centralisation. Of. Capital.
HA HA HA HA HA HA HA HA HA HA HA! WHO IS JOHN GALT? When the world is going to hell all you can do is crack open a coldie, sit back and witness the majesty of it all in it's undignified, gluttonous, destructive glory and just piss yourself laughing. Yes, the system and society is completely fucked. What are you all going to do about it? Complain? No one is listening. The world is in the state it is because the world WANTS it that way. As stated, no one held guns to the head to borrow. It was all a conscious CHOICE. The modern world is what it is based on the results of it's own virtues, ideologies, ethics and values. If the implications of the fallout wasn't so serious, you could incorporate it in a Looney Tunes show and laugh yourself silly. All I can say to the world is - STFU! This is what they wanted! What a laughable joke it would have the audacity to complain about getting what it fought tooth and nail to get!
But the nature of capitalism is that it eventually ends up this way. It starts out all well and good and then, as Earthjade described above, the money (and the power) eventually becomes concentrated into a small group of companies and the individuals who control them. Every so often a bust cycle actually damages one or more of these uber-corporations and, if they have a healthy sense of self-preservation, they step up their sales pitch a few notches and instead of selling widgets to consumers they sell the fear of economic Armageddon to governments. Its exactly the same conversation in both scenarios: give us money and your life will be better for it. You give us money, we give you a big TV and you can enjoy movies in the comfort of your own home. You give us money, we don't go bankrupt and you can enjoy having a job, a house, a car and a relatively stable currency to trade for goods and services (like your big TV) in a relatively stable economy. People seem to think that there is a point - the point where things go bad - that a capitalist market stops being a capitalist market. It hasn't suddenly stopped being a capitalist market, it's just made a natural progression to the next stage of capitalism - the stage where there is no possible doubt that corporations are more important and more powerful than governments are. (And yes, I find that scary too but that's the simple reality of what's happening).
BALLS! It's only due to meddling parasites in government - under cover of vocal activists such as yourself - that "it ends up this way"
Socialism fails both the robbed and the recipients of its stealing. It holds a gun to the head of the robbed forcing them to give their money to the socialist government. It holds another gun to the recipients of the stolen wealth and sets conditions for the receipt of that money. Immunize your kids, go off this or that substance, do this, do that or we'll stop giving you "free" money. It's only winners are those controlling the money flows and holding the guns.
The government is the big corporations. Corporations get big enough, they get power through their wealth. Then they buy government. If you can't understand this, there's no hope for you. So put on your tin foil hat, stock up on your canned beans and stay tuned to Bob Chapman's Youtube channel. Because silver is going to the MOOOOOOON, didn't you know?
