modern life is rubbish...
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- designbot0
Could we see the merging of several economies? If things get too bad I could see this being a serious option. Look out....her comes the NAU.
And no, I'm not talking about "National American University".
- *heredesignbot
- Are you going to start talking "Amero"? 'Cause if you are, I'm leaving the room...TheBlueOne
- I could see it happening....though I think it's a horrible idea.designbot
- *leaves roomTheBlueOne
- hahaadesignbot
- ukit0
What about globalization of the markets? I think you are right that we are living in a different world today, but it has less to do with just the pace of news and more to do with the interconnectivity of actual markets.
There, interconnectivity, I used a big word today.
- How interconnected are we really? How many of you know the reasons why Thailiand is imploding for example...TheBlueOne
- beasue people believe that the current president is a puppet of the former one. so they are trying to push him outKiko
- TheBlueOne0
With all this talk of an information age I have to ask, if we are indeed in an age where information is valuable, wouldn't then the most valuable information be kept secret?
In the gold age wasn't gold hoarded, and people used silver or lesser metals as daily exchange? Wuoldn't it be the same with information - put all the useless news, pundit speculation, spam and gossip out there, but the real valuable information is kept tightly controlled and privatized where it can be leveraged to the maximum effect?
Thus us rubes have no clue about what the real story...
- Valuable information being trade secrets, scientific information, etc...TheBlueOne
- http://www.amazon.co…TheBlueOne
- Kiko0
Have to agree with you there Ian, been thinking the same thing myself.
Its on every site, on the metro every morning front page, on all TV news programs. The BBC has even crafted a logo for Credit Crisis with the r turning into a down facing arrow.....clever ;)
Fear of a recession will stop spending and so the cycle continues.
- BattleAxe0
did the internets make us even more complacent I wonder? I mean now if you have a blog or had an online discussion does that make you an activist? I wonder if we would all be in the streets like we really should be instead of letting a lol cat do all the talking for us ....
- possibly but most bloggers aren't the type for real action anyway.lowimpakt
- Khurram0
Yeah but its the culmination of a LOT of things
Financial crisis + insane commodity prices (esp oil) + declining dollar +...
- kezza_20
see them there
- Greedo0
I think the consensus is that the banks really didn't understand what they were buying, AIG didn't really understand what they were insuring, and i really wonder where the people that got rich off this whole mess are right this minute.
Probably at the pub.
- 23kon0
Im surprised they even announced the fact that the banks have all completely arsed-up and that we are facing a credit crunch.
I thought they were meant to keep us shower of shites dosed up on celebrity gossip so we didnt question what was going on with the government, what laws they were sneaking through and how the stock market is doing.
There's obviously not enough celeb gossip out there to cover up this massive wankerbanker fuckup
- some ardbeg has just been cracked open at work. byeeee23kon
- formed0
Were you not around in the dot com era? That was the last recession, plenty of info about that!
- tkmeister0
It is a lot easier to speculate today than pre-internet days. The media headlines don't help either, I mean, look at CNN breaking news. Also people are less interested in reading the editorial content because internet has created this 1 line synopsis trend.
The market failure is not so much so of media failed to warn us. It's because the banks fail to reveal their true balance sheet. Those guys are basically poker players. If you see a sign of any weakness, they'll eat you alive.
- lowimpakt0
let's get wrecked and fuck shit up.
- Greedo0
PS: high volatility is a great time to pick up stocks on the cheap, especially if you got 15 years to ride them out.
i learned that from the internets.
I suppose that's pretty much the only thing you can do when banks go toppling.
- moth0
Off to the pub sounds good.
- Khurram0
Wishful thinking.
1) The early 90s recession was paltry compared to the insanity of what's goin on now
2) The whole "media panick" argument is bogus.. There are real systemic deficiencies and we have no idea of the scope of them yet .If anything, the media FAILED to warn us in time, and warned us about the situation far too late.
3) The failure is at the TOP of the capitalist tree, it is not consumers who are bringing the system down with their "rash" choices. The back-room boys who see the numbers, who understand market liquidity, are the ones who KNOW shit has gone waaaay out of control
4) People don't pay as much attention to the news/media as you'd like to think
- kezza_20
I'm fasinated by peoples responses....
I remember the last downturn in the 90's and no one discussed it in the way we do now. I guess I wonder whether the democratization of information has done us any good what so ever.
Whilst I understand the internet has lots of very practical GOOD uses, surely the furor we've whipped ourselves into has been a result of this very said access?
- SuperSport0
I thought Parklife was a superior record.....
- 65Neue0
But it has also brought it to everyone attention so we can all aim to do something about it. Is the internet fanning the flames or feeding us the solution also.
Discuss/
- jamble0
The interweb spawns "experts" on every subject known to man and with the proliferation of social news sites like Digg, everyone has an opinion and it's so easy to broadcast it whether it's accurate or not.
The current state of the economy is no doubt bad but I'd be inclined to agree that now we live in an age where news is on 24/7 it's made much much worse because news channels have to fill the airtime with something no matter how relevant or helpful it actually is.