Global Economy
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- JSK0
"Experts also say that quantitative easing (putting more cash in circulation) has never ever helped or been proven to work in any economy ever."
They are modeling this after Japanese economy. If there was no QE, everything would fail in a systematic fashion. Much like the great depression. It was design to ease the down turn and failure. More la se faire economist would tell you that this doesnt work but without this, global economy would just stop. Billions without jobs.
- detritus0
This is all a question of scope.
A lot of commentators blithely conflate ‘major economic woes’ with ‘total apocalypse’.
There is nothing in tha Guardian article that people don't already know—put simply, we've had the massive excesses of profit from the last decade wiped from our slate.
In one sense, this is a terrible, terrible thing to have happened. especially if a focus on making a lot of money's your thing.
In another, it's not, especially if you're just another schmo caught on the tide.
- registe0
the only difference between 1911 and 2011 is the consumer is better informed. No entity exists to protect the consumers interest. Yet entities continue to exist for the interest of the company.
It's not worth fearing, the only reason we care, is because we know. It's so far removed from the hands of the average citizen, I firmly believe there is no "hope" for anyone alive today. We are cogs in a system. I'd say the best course of action is to put that self aware brain of yours to work and get to work on a million dollar project.
I was discussing this sentiment this morning. for an individual in their mid 30's the amount of money needed at retirement is over 3 million dollars. The cost of tuition for a 4 yr old to go to college will be about $300,000.
- JSK0
I dont think consumers are better informed. They have the same mentality. If they were better informed, no one would buy in to predatory mortgages (not reading the contract or agreement). Everyone is looking for easy buck. I remember a friend of mine was complaining that he was a "victim" of the banks. I asked if he read the contract and agreement. He said "No. Why should I? I am the victim here" I asked to bring the contract. And it is in the first line "interest rate will increase to 15% after 2nd year" and "failure to make payment will increase rate to 35%" He lived in his place for 10 months without paying. He complains that he didnt get his fair share.
This is moronic.
- TheBlueOne0
@deathboy You seem disgusted by the modern "left - right" axis, yet you continue to frame your posts in that paradigm. DO some research brother. Start at the beginning of classical economics - After reading Adam Smith please move on to Ricardo:
Then:
Then move on to:
i would also suggest Polyani for a take outside the usual modern capitalist/socialism clusterfuck:
Also some Hayek and Karl Popper is probably in order. Samuel Huntington's earlier work as well. I would also spend some time reading scholarly works on the Iranian revolution, some of the latin American revolutions of the mid 20th century. Also read up on the Italian fascists of the early 20th so you can see the intellectual origins of that third mix in the 20th century idealism blowout.
- its funny i find sometimes a great notion so much better than all those books.deathboy
- these books just arent that good. i liek hayek since he's against controlling marketsdeathboy
- or at least thats my impression.deathboy
- i frame them so not to get into the your left youre right. tke them out by identificationdeathboy
- ukit0
Whenever there is a perception the system isn't working there is always going to be a group of people who advocate for doing something radically different even if their ideas are more or less unproven. In this case the Ron Paul/ Austrian economics crowd who are pretty much betting on the system collapsing with investments in gold and silver etc.
The advantage of being a critic from the sidelines like this though is that you can never be proven wrong. It may well be that our economic system is headed for collapse but that could be in spite of everything that has been done rather than because of it. The real culprits could simply be globalization and transformation of the economy rather than the fiat money system or central banking being inherently unsustainable. Its easy to criticize the Fed but hard to criticize globalization even though its an inherently destabilizing trend.
- Alan Greenspan was proven wrong and he admitted that he was wrong.JSK
- deathboy0
Its not in the best interests of other countries to have the dollar drop. They'd take a hit losing exports. So should be fine to keep up this imaginary game of value and wealth. Or at least until the big boy nations decide to play manifest destiny
- JSK0
Lose of US dollar value is nothing to do with import from other countries.
The main scare is (to other countries and US) that no one would buy debt from US Govt. China, who holds most of US debt has started to reduce its holdings. US Currency has been used as a foreign for most countries but they are reducing it. If no one is buying US debt, US can no longer borrow money regardless to debt ceiling.