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The Forum > Article Comments > Speculative fever and casino economies > Comments

Speculative fever and casino economies : Comments

By James Cumes, published 14/1/2008

The financial crisis in the US didn't just turn up yesterday. We need fundamental global reform - short-term expedients will not do.

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Would like to know how deep down in the US money chest George W' can really go - nearly a half trillion wasted on Iraq alone, being enough worry.

Seeing they pretty well own the Federal Reserve, was wondering when the Rockefellers and Morgans will enter the picture?

Also one wonders how these scions of the Rothchilds could watch our world being financially ruined by Neo-Con backed slow learners trying to run and rule this world.

Dinkum academics don't know whether to laugh or cry to see globalisation taking more out of the Third World than ever, first world racketeers paying sixteen times less at at the black African farm gate than is finally made before sold over the Western shop counters.

Also heard a story the other day from a WA bee-keeper who we thought was still doing well out of his honey. But was shocked to be told that even Wescobee is buying in low-grade overseas honey and mixing it in with our top-grade stuff, and still charging the same.

As one going on 87, starting to feel how lucky one has been to have spent most of his working life under Keynesian philosophy, not under this New-Age plus Neo-Con US Lunacy
Posted by bushbred, Monday, 21 January 2008 12:12:52 PM
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I wonder what happened to the guys that gave sub prime loans a triple A rating?
Surely this is the beginning of it all. It amazes me that the"sub prime" tile was invented after the market was "conned" into buying the morgage.
Was the title devised to excuse incompetent research into home loans?
Was it a device used to make "criminal profit" or as I suspect greedy orgs. trying to maximise returns to share holders and to maximise so called"incentive bonuses" to traders?
Will we too, find hard working people lose both equity and house.
I suspect there is too much cash/credit slopping round the world.
Recently on tele a lady was part of an audience worried the second house, bought for speculation, was maybe going to cost her the house she lived in.
Pathetic I thought, hope to profit from young buyers trying to buy a house to raise a family. No doubt following an advisers personal preference.
fluff4
Posted by fluff4, Saturday, 26 January 2008 9:24:03 AM
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