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So, again, December, 2007. After awakening to the idiocy that had abounded while the blogger was working on real problems, it became apparent that the financial guys had gone too far (that post was written on Christmas day, of 2007).
Tranche and trash was added later.
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It's obvious that the wizards are confounding issues with their money, their lobbyists, and snowing people with mathematics and computation (the most popular post of the FEDaerated blog). How do we get a 'reset' going that would help build a better basis?
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So much has gone into building the 'market' economy, is it possible to delta off of that in some incremental mode? To what, though?
OWS talks about symptoms. It is not a solution definitional system.
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Politics? We have seen how that descends. The story now is that those who get elected to Washington come away rich. They even pull silly games with the Street. Ah, yes, are politicos not those who salivate with they see (or think of) a buck (or have it passed beneath their nose by lobbyists)?
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If you haven't noticed, it's a real mess. Of course, the 1% likes it since they can muddy themselves, and us, as they rake in their takings. The 99%? Of course, that is where the real hurts always happens.
This is a new meme; perhaps, it'll be helpful.
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Disclosure: In 2007, I started to look at finance to see why the younger ones had queued up there in droves during the prior 10 years. Well, given the shenanigans, it was obvious that the open field (relaxed oversight, greed as good, etc.) allowed many to make money; at what cost? Oh, yes, impoverishing of the many (near-zero). So, it was seen, in 2007, that the walls were beginning to shake; who thought to what extent? Those who were benefiting still were expecting bonuses. You see, the whole game quit (markets froze, bankers sat on their money, people like Jamie became focals of too much attention, et al) since the players knew that it was a crooked game (wake up, Ben) and stopped playing when it became clear that they could make decisions that would cost them (ah, Bank of America, et al). Yet, at the same time, these people didn't acknowledge the reality (given that we can know the actual state -- too, they play to win, expending enormous energies to ensure that they win -- ah, then, the re-insurance scheme was shown to be faulty, to boot). The lemon lesson kicked in; if you and your peers are crooks, who do you trust? Oh, the American taxpayer from whom can be extracted oodles without any side-effect (not so, says the OWS - before them, the tea-party). So, it became obvious that finance was a lot of fiction (recap -- how did we allow this?). It was unsettling to see Iceland fail, since they listened to the idiots (see Remarks 02/03/2011) and made themselves vulnerable. So, too Ireland. England (with its thrust on finance) ought to have known better. And, now we're seeing holes all over Europe which Ben is trying to fill with his cheap bucks. Since 2007, we have had changes in laws. Yet, there is truth to the statement that those who legislate now become rich while in office. Too, they let those who skim off the top do so without any threat (the stench comes from systemic pustules). The ca-pital-sino needs to be reigned in; so too, those new kings who run rampant over the populace. That the 1%-99% meme brought forward some recognition was nice to see, too, albeit a little reminiscent of earlier times.
Remarks:
12/07/2011 -- Jim Rogers sees saver sacking, too.
12/06/2011 -- Congress wants to clean up its act.
Modified: 05/29/2012
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