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The Forum > Article Comments > The Global Financial Crisis: financial chancers, 1; American dreamers, 0! > Comments

The Global Financial Crisis: financial chancers, 1; American dreamers, 0! : Comments

By Greg Maybury, published 15/7/2014

Senator Warren, in attempting to seek and obtain a measure of justice on behalf of the hapless US citizens and taxpayers, is doing so against what are surely extraordinary - possibly insurmountable - odds.

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Yebiga

Can you see, if the total amount of money magically doubled over night, so that everyone had twice the money in their cash reserves than they had the day before, that there would be no increase in physical wealth, or in total utility?

Can you see that if the government digs holes and fills them in again, and pays for it with funds obtained either by inflating the money supply, that this does not make society as a whole richer?

Can you see how, if what Foyle is saying were true, we could abolish poverty just by running the printing presses?
Posted by Jardine K. Jardine, Thursday, 17 July 2014 8:08:41 PM
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All the theories about the GFC are correct, but no one ever asks, or
rather they never tumble to it, "What Triggered the Bomb !".
The detonator was housing.
The Housing detonator system was sitting there just waiting for the trigger pulse.
Bang !

Now here is the problem;
We were lucky, we got saved by by a once off occurrence.
Now that will run out of steam in a very few years and we have taken
that time to prime the bomb again.

Next time there is nothing in sight to save us when it goes off again.
Next time the result will be permanent.
Next time we will start a very long climb back to a very different economy.
Posted by Bazz, Sunday, 20 July 2014 10:56:45 PM
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Bazz, to the extent theories of the GFC are inconsistent, how can you say they're all correct?

The problem is that people who normally discipline themselves to think logically, indulge themselves in believing that they've hit a logic-free zone as soon as they discuss economics, and therefore policy. But they haven't. Reality and logic continue to exist, and to impose limitations on human action, regardless whether people think economics is just a set of arbitrary ideological postulates. It just means they're wrong.
Posted by Jardine K. Jardine, Monday, 21 July 2014 12:25:28 PM
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BRAZEN/NOTE....<<...no one ever asks, or
rather they never tumble to it,/.."What Triggered the Bomb !".>>..

THE TRIGGR WAS THE RATINGS AGENCIES MAKING AN INVESTMENT VEHICLE FOR SUPER ANNUATION.. with inbuilt growth mechanisms[such as LOW/OR NO INTREST..THEN MASSIVE [UNREASISTIC]..HIGH-intrest increases..

<<..The detonator was housing.>>

NO THE DETONATION WAS OUR BABY BOMER RETIREMENTS
THEN US LOOSING MASSIVE FUNDS IN RIPPOFFS SANCTIONED RIPPOFFS VIA BANKERS SELLING COMMISION PRODUCT

super anuation is a pyramid sceme
last in loose everyting[and we have a cuppoard of lossing betting slips in a rigged game
http://www.washingtonsblog.com/2014/05/enron-2-0-wall-street-wants-manipulate-state-energy-markets-just-like-manipulates-every-market.html

<.The Housing detonator system was sitting there just waiting for the trigger pulse.
Bang !>>

yes shortfall of a return
but so huge that the underwriters who underwrote the AAA
WERE ALL NEEDING TO GET CASH FAST[THE ELites living comfortably off our fears/who neded destractions with smoking /asbestos underwritting

well they all had to liquidate asets.fast
or ask the govt cash teat to save them /with money printing to buy up worthless bundled contract obligations defaulting and worthless

muxch like when bankers last went broke
http://home.alphalink.com.au/~radnat/anstey%27s%20kingdom%20of%20shylock.html<<..

Now here is the problem;
We were lucky, we got saved by by a once off occurrence.>>

us giving away our assets so the rich had asets to put the stolen cash bailout funds into?

then tripple the costs/of basic services[take our super to enslave us?

<<.Now that will run out of steam..continues
Posted by one under god, Monday, 21 July 2014 1:35:09 PM
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<<..in a very few years and we have taken
that time to prime the bomb again.>>

so know/its a money machine..yoU GIVE IT A DOLLar
it creates 50 dollars of debt*..[stop feeding the machine..money

money is debt*
THE ONLY CONSTITUTEd lawfull tender is coin[queens coin;silver gold coin/fiat is a bank reciept..one day they deflate your value away

<<.>>Next time there is nothing in sight to save us when it goes off again.

restore traditional value back into coin
govt mints its own coin/at two extra decimal points[add one or two zeros to the face of coin
\let one real copper cent=one paper dollar

<<..Next time the result will be permanent.>>

yes bankers wantiNG FEDERAL RSFVE NOTES
OR CASH COIN..I KNOW WHERE MY MONEY IS[IN COIN..IT AT LEAST IS WOR ITS CURENT FACE VALUES PLUS COLLECTABLE/RAREITY-VALUES.
<<..Next time we will start a very long climb back to a very different economy...>>

YES NEXT TIME I SEE LOCAL COUNCILS GETTING THEIR MINTING[BUDGET]..IN COIN..COIN WILL BE TAX FREE[ITS JUST ANCIENT TRADITION]..UNDER GOVT RIGHT OF SEIGNORAGEE/WE CAN DROP ALL INCOME TAX ON WAGES]..
Posted by one under god, Monday, 21 July 2014 1:35:41 PM
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Jardine; no doubt people will argue till kingdom come about the
economics side of the argument.
However when the price of petrol & diesel to the economy exceeded 4% of
GDP that was what set it off.
The average Joe Blow had a choice, buy petrol to go to work, buy food
for the kids or pay the mortgage.
That was the economics of it all. Bang !
The rest was history.
Posted by Bazz, Monday, 21 July 2014 2:41:30 PM
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