No "bad news" perceived from here, but plenty of petulant sarcasm instead. It actually affects me very little whether or not people like Keane take direct payoffs from hedge fund parasites a la Carribean money-laundering havens.

To Keane: Keep up your servile and obfuscatory work for such corrupt, oppressive giants as the IMF and (now) FSB. Appears to be how you got your job in the first place, and keep it until now.

Btw, I decline any offer to meet. I've met your type many times before - found the discussion never worth my time, just as your wages are never worth my taxes.

Interesting arguments on all sides .In the case of Professor Keane perhaps hope springs eternal - a perfectly natural human emotion and I guess none of us would be here without it.

Unfortunately,the economic crisis is the smallest gorilla in the room and the most amenable to some taming.The largest by far is the population overshoot which is closely associated with resource depletion,particularly energy,and environmental degradation.Add the mystery gorilla,climate change,and we have a perfect storm approaching.

We are on the cusp of an epochal change.Trying to recreate or modify conventional industrial systems will not work.Most,if not all of our leadership do not seem to be aware of this.Neither do the majority of the citizenry.Until there is an awareness of the magnitude and nature of the problems then there will be no effort put into solving them.

There will be a resolution but it will probably be along the line of Malthus.

It's always amazing how a financial crisis or upset will bring out the socialists and anti globalists baying with 20 20 hindsight that capitalism has failed.

Even in the depths of the crisis the economy is better under capitalism than it ever was under the socialist utopias.

The source of the problem is not derivatives or hedge funds (which have been around since roman times), but the simple fact that banks were enabled to make unrestricted loans by the Democratic (socialist) party under Clinton who removed the regulations. The 3 decades of wild growth were spurred on by the resulting cash flow.

The cure is to revert to a regulation regime that controls this. The result will be a slower recovery, but will set the grounds for a more sustainable growth into the future. An international oversight body would not be a bad idea either. (to watch the watchers)

i was going to quote from proffesing mr kean this morning when i read his tripe[buzz piece]informing us of his version of a cure[via yet another imf oversight agency...lol

but i cant be bothered reading the tripe again, john should be well aware the inf is the big problem, aPPART FROM AN IMF SUBAGENCY HOLDING THE REAL SHARES[THAT ALLOW US TO SPECULATE ON wether the shares rise and fall[for a fractional bet, that has cost many their houses[here in his homeland],

as well as the imf controled isda[international swaps and derivitives[and substantial gold holdings ill begotten from the likes of argentina et al..who went bankrupot following the imf orders[and paid in gold the very gold the imf now is putting up for sale]

as well the imf fund GLD ,who via a mere 100 tons of the stuff issues gold certificates 3 times all the gold ever mined eachh day[in lue of trading in the real gold, not to mention etf's also linked to the imf, i would have expected a more honest expose by one who claims to know[you john]

there is so much stiff tied up in the nationalised banking scam, its time those who know stopped selling us puff pieces and gave the real facts behind the creatures of jeckle island..[no doudt he [if he respinds at all will claim ignorance of many of the initial speak i use[and this is a so called expert[training the next generation..lol]

anyhow john if you dont got any idea i have done some research for you
most are allready posted on this forum

http://forum.onlineopinion.com.au/thread.asp?discussion=2663
http://forum.onlineopinion.com.au/thread.asp?article=8796
feel free to rebut here or there mate[noting it took 8 hours waiting to post this here[its great this 5 post limit], but you john opnly need focus on one post [this one] so mate please explain?

oh and welcome home...lol
couldnt cut it in the big smoke eh?

Apart from OUG's sanity, there are toxic hallucinations and mysticism here.

ShadowMinister (S&M) assumes opponents of usurers' bailouts must somehow be "anti-capitalist", "socialist", with "20/20 hindsight"! Another outlandish S&M call is the presumption: "It's Clinton's fault for ditching Glass-Steagall", thereby perpetuating other cliched ideas like "US Sub-Prime caused a GFC".

But this is a whole systemic breakdown. Greenspan opened the off-balance-sheet derivatives trade after the '87 Crash; we've seen bubble after stinking bubble ever since. The Roman Empire is only relevant for ideological comparison: Globalization wants to enslave and degrade as many people as possible, imitating Rome's bestial, decadent imperialists.

That leads to the next prospective bubble so eagerly sought by the parasitic usurers (neither fair nor accurate to merely call them "capitalists"). They want ETS/CRTS/fart tax, whatever (check OUG's links). Consider the absurdity: World Bank stooges like Stern and Garnault, and hedge fund speculators like Al Gore, spruik mantras like "the world faces catastrophic effects of climate change", etc. But join the dots here: these guys had no clue about how to make a properly functioning and genuine economy, while events emphasize that fact with each passing month since July 2007. Yet we're meant to trust their "judgement" on the entirely different field of climate science! And this when global temperatures are cooling with increased ice mass?

And what inspired Manorina's contribution? A Tarot card reading, or deep, prolonged contemplation of a certain Chakra, or a Tibetan chalk mandala picture? Hmmm, "people are the problem...invoke the animal spirits instead", and Adam Smith's institutional, imperialist colleague Malthus.

Puke.

There's no polite way of putting it: compared to the Professor and the commentators, OUG and myself are 100% right on this and a couple of light years ahead of them. We speak for the sincere, healthily motivated, but oppressed majority. These others, by contrast, spruik and spin to benefit a depraved, tiny monetarist elite. It's immaterial whether they're wrong because they're simpletons or just deluded and brainwashed by their corrupt social conditioning. What matters is that readers identify the cultural and intellectual degradation driving their spastic thoughts on these important issues.

MO and OUG, it is nice that you have found each other, since the rest of the world is delusional and only you are right. Perhaps you could mount barricades against the ravening hordes of conspirators that are determined to take over the world.

In the interim, I along with many others would prefer to rely on the conventional economics that was ignored by those who precipitated the crisis, and most of the other bubbles.

Regulation is required to ensure that it is difficult to stray too far from recognised criteria, and to limit the damage caused by these bubbles.