"Great Recession" of 2007-09

[SuburbanFarmer]

I just ignored it.. I think Hwen is having a bit of a meltdown, after recent clashes with StA and Capps.

[doc_loliday]

The banks bribed congress so they could make loans they ordinarily wouldn't, with the understanding that they could sluff off the debt to unsuspecting customers through various scams, er "exotic financial instruments", realizing that if the worst should come, the government would bail them out or else.

[Hwen Hoshino]

What the fuck do you mean total chaos? Self interested actors will do sewage, maintain roads, provide Internet infrastructure etc.. If the elites were not sucking each other's dicks i would be a lot less scared.They should spread the dick sucking around. At this point there is no reason for them to not just live among the rest of us and have exclusive clubs.

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes. I'm not sure I fully get your last sentence.

Economic collapse does not equal the collapse of a civilization. Why do they have a CFR? A Bilderberg Group? What makes you think there is no real plan if you look at how little FP has changed?

I just ignored it.. I think Hwen is having a bit of a meltdown, after recent clashes with StA and Capps.

What did i say that even vaguely sounded like a meltdown?

[heydaralon]

What the fuck do you mean total chaos? Self interested actors will do sewage, maintain roads, provide Internet infrastructure etc.. If the elites were not sucking each other's dicks i would be a lot less scared.They should spread the dick sucking around. At this point there is no reason for them to not just live among the rest of us and have exclusive clubs.

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes. I'm not sure I fully get your last sentence.

Economic collapse does not equal the collapse of a civilization. Why do they have a CFR? A Bilderberg Group? What makes you think there is no real plan if you look at how little FP has changed?

I just ignored it.. I think Hwen is having a bit of a meltdown, after recent clashes with StA and Capps.

What did i say that even vaguely sounded like a meltdown?

Of course governments and banks plan stuff. Every person makes plans. That doesn't mean that there is a secret group that controls every event in the economy and foreign policy action. You are giving way too much credit to banks and the government.

[ssu]

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes.

It's built into banking that they do from time to time create debt bubbles that lead to financial crashes and economic depressions.

Banking simply is so: there's no difference with the debt from one bank to another as is with a car like a Toyota or a Rolls Royce. Hence for a bank or financial service Company to increase customers, either you lower your rates or you simply lend to people that are more riskier. In banking the bigger you are, the better. Hence when for some reason the banks have an opportunity or ability to lend more to more riskier people, like happens with deregulation or new innovative finance models, then they go for it. They create the bubble and it works like a miracle ...for some time.

The reason is that once the speculative bubble pops, it has a huge impact on the real economy. Starting with things housing, because homes cannot be built in China by robots. Or the fact that for the consumer, buying your own home is usually the biggest transaction people make ever.

[Hwen Hoshino]

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes. I'm not sure I fully get your last sentence.

Economic collapse does not equal the collapse of a civilization. Why do they have a CFR? A Bilderberg Group? What makes you think there is no real plan if you look at how little FP has changed?

I just ignored it.. I think Hwen is having a bit of a meltdown, after recent clashes with StA and Capps.

What did i say that even vaguely sounded like a meltdown?

Of course governments and banks plan stuff. Every person makes plans. That doesn't mean that there is a secret group that controls every event in the economy and foreign policy action. You are giving way too much credit to banks and the government.

Every, fuck no. Big ones on the other hand...

[heydaralon]

Every, fuck no. Big ones on the other hand...

What big events do you think are part of a conspiracy? Who is in and who is out? How many people are involved? What methods are they using to silence the thousands of people who would have to be in on such a large plan?

[heydaralon]

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes.

It's built into banking that they do from time to time create debt bubbles that lead to financial crashes and economic depressions.

Banking simply is so: there's no difference with the debt from one bank to another as is with a car like a Toyota or a Rolls Royce. Hence for a bank or financial service Company to increase customers, either you lower your rates or you simply lend to people that are more riskier. In banking the bigger you are, the better. Hence when for some reason the banks have an opportunity or ability to lend more to more riskier people, like happens with deregulation or new innovative finance models, then they go for it. They create the bubble and it works like a miracle ...for some time.

The reason is that once the speculative bubble pops, it has a huge impact on the real economy. Starting with things housing, because homes cannot be built in China by robots. Or the fact that for the consumer, buying your own home is usually the biggest transaction people make ever.

I'm not denying that booms and busts are part of the economic cycle. As long as humans and uncertainty exist, economies will operate this way. The idea that we can cut the economic gordian knot like Greenspan and Rubin claimed is ridiculous. With this in mind, I think it is ridiculous to believe that all economic problems are part of a well constructed plan. Shit takes people off guard, including those at the top. Control is an illusion. Certainly, many bankers profit from these busts, but that does not mean they have a crystal ball or power to control the billions of actors in the global economy. They have more power than any of us, and they are utterly compromised morally, but to go all Zeitgeist and say that all of the poor planning and fuck ups that have taken our elites for as much of a ride as the average joe is part of a secret bilderberg style conspiracy is ridiculous. No one can predict the future. Not even Goldman Sachs.

[SuburbanFarmer]

Economies collapse all the time dude. In every recorded society this happens. The banks probably wouldn't torpedo our economy on purpose, but rational actors still make costly mistakes.

It's built into banking that they do from time to time create debt bubbles that lead to financial crashes and economic depressions.

Banking simply is so: there's no difference with the debt from one bank to another as is with a car like a Toyota or a Rolls Royce. Hence for a bank or financial service Company to increase customers, either you lower your rates or you simply lend to people that are more riskier. In banking the bigger you are, the better. Hence when for some reason the banks have an opportunity or ability to lend more to more riskier people, like happens with deregulation or new innovative finance models, then they go for it. They create the bubble and it works like a miracle ...for some time.

The reason is that once the speculative bubble pops, it has a huge impact on the real economy. Starting with things housing, because homes cannot be built in China by robots. Or the fact that for the consumer, buying your own home is usually the biggest transaction people make ever.

I'm not denying that booms and busts are part of the economic cycle. As long as humans and uncertainty exist, economies will operate this way. The idea that we can cut the economic gordian knot like Greenspan and Rubin claimed is ridiculous. With this in mind, I think it is ridiculous to believe that all economic problems are part of a well constructed plan. Shit takes people off guard, including those at the top. Control is an illusion. Certainly, many bankers profit from these busts, but that does not mean they have a crystal ball or power to control the billions of actors in the global economy. They have more power than any of us, and they are utterly compromised morally, but to go all Zeitgeist and say that all of the poor planning and fuck ups that have taken our elites for as much of a ride as the average joe is part of a secret bilderberg style conspiracy is ridiculous. No one can predict the future. Not even Goldman Sachs.

You underestimate their power.

[heydaralon]

Didn't you pretty much say the exact opposite a few posts back?

Unlikely. It's all about the next quarter's profits. It would actually be reassuring to assume some sort of Master FuckYou Plan, but it's not that simple. This is the result of short-minded psychopaths finding themselves in a ridiculously inept system.

Your quote pretty much sums up how I feel about it. I'm not fond of the banks, and they have certainly rigged certain things, but there is no Zeitgeist happening.