Last edited by Maximilien de Robespierre (2011-10-05 13:50:36)
The UK is a similar perilous state, being a one trick pony of financial services and outlet villages. There is no diversity and the deliberate policy of deindustrialization at all costs has done us in. Well, not me, as I've buggered off to the continent where my skills our welcomed.
Last edited by Big Tony (2011-10-06 09:01:11)
I see the governer of the Bank of England, Mervyn King has at long last admitted its at least as bad, if not worse than the Depression.
Really mother fucker? Who would have thought that unbridled crony capitalism based on an economic model whose tactical success has been off-shoring and eliminating the means of production for short term financial gains at the expense of the national interest, reinforced by a debt fuelled housing bubble would explode spreading dog shit on one and all.
Judgement day is coming boys, better run for cover.
^All too true.
The latest scandal with Fox and his bright young thing is intriguing, not the potential gay sex angle, who cares. Its the shady neo-con conspiracy controlling the British Defence Minister that inevitably will influence arms contracts. This is the real issue, the prostitution of the Tories to the Americans under the guise of charities and non-profit companies being used to promote the 'special relationship'.
Enjoy the hate ...
http://www.thereformedbroker.com/2011/10/09/this-is-why-they-hate-you-and-want-you-to-die/
Last edited by 4F Hepcat (2011-10-18 11:20:50)
Last edited by g- (2011-10-18 19:32:43)
Call it what you will, but it takes place in a culture that allegedly values the market and competitiveness and therefore the notion of crony capitalism is apt. Arguing that it is really socialism i.e. the socialising of the risk is not apt as the rewards are not socialised. And the mistaken belief that the all knowing and equilibrium of the market will bring prosperity and have us out of this mess if only the market is left unfettered is clearly ridiculous and does not factor in the greedy and devious minds of men.
The market needs regulations and when you have a CDS market that is bigger than world GDP, you know something is wrong. How wrong we will find out when Greece defaults and all the dominoes fall towards the UK and US. I can only hope we take the opportunity of reigning in the financial excesses and get some effective regulations in place. Depends how catastrophic the fall out is.