The World's Financial Turmoil ...

[letric]

What are the root causes? Our desire to live beyond our individual
and collective means - or to require that others bails us out if we
fail - has enticed us to engage in individual and collective coveting.
What fundamentally is the problem?

[lexbarker]

Too much freeness in society.
Too much Government illegal corruption.
Too much Legalised corruption created in/by government.

[miktay]

Love of money iz the root of all evil.

And since 1971 money has been fiat currency.

[edyle]

The root cause is corruption and greed at the highest levels.

[miktay]

The root cause is corruption and greed at the highest levels.

Why iz there corruption and greed at the highest levels?

[edyle]

Why iz there corruption and greed at the highest levels?

I suppose because the most currupt greedy psychotic individuals are motivated to do whatever it takes to get to the highest levels.

[miktay]

I suppose because the most currupt greedy psychotic individuals are motivated to do whatever it takes to get to the highest levels.

What motivates the corrupt greedy individual?

[edyle]

What motivates the corrupt greedy individual?

Gee I dunno; maybe it's the food he eats.
You know the answer?

[miktay]

Gee I dunno; maybe it's the food he eats.
You know the answer?

The motivations are usually money power and in some cases women.

But money iz at the root of the latter two.

To quote Scarface's Tony Montana:

Chico In this country, you gotta make the money first.
Then when you get the money, you get the power.
Then when you get the power, then you get the women.*

Fiat money not only erodes asset values.

Fiat money erodes human values.

[letric]

Respected economist Carl Menger opened his 1871 book Principles of Economic
with the statement ,

All things are subject to the law of cause and effect.

Our behaviour and choices always have consequences, often economic consequences
as well.

[lexbarker]

Why iz there corruption and greed at the highest levels?

Because they make the laws.
Because they can get away with it.

[miktay]

Because they make the laws.
Because they can get away with it.

Why can they make the laws?

[lexbarker]

Why can they make the laws?

They are in congress.

[letric]

Since people place higher value on receiving something now instead of later, money has a time value.
When combined with risk, this leads to the concept of interest. When people borrow money, what is
really borrowed is the wealth the money represents. The lender will only freely lend if he can expect
to be repaid and compensated for the risk he took . When borrowing stretches over decades, even a
modest amount of inflation can destroy a substantial fraction of the wealth repaid to the lender. When
government inflates the value of money by deliberate policy, this destroys the amount of wealth bering
paid in long-term contracts and loans. It is the same as having dishonest weights and measures - again,
a form of stealing.

[miktay]

When yuh borrrowing sumthin boleface...yuh could at least cite the source...

http://www.ucg.org/news-and-prophecy...e-root-causes/

Or the source of a distinctive source...in this case Redman...in the Safest Investment ched...

Since people place higher value on receiving something now instead of later, money has a time value.
When combined with risk, this leads to the concept of interest. When people borrow money, what is
really borrowed is the wealth the money represents. The lender will only freely lend if he can expect
to be repaid and compensated for the risk he took . When borrowing stretches over decades, even a
modest amount of inflation can destroy a substantial fraction of the wealth repaid to the lender. When
government inflates the value of money by deliberate policy, this destroys the amount of wealth bering
paid in long-term contracts and loans. It is the same as having dishonest weights and measures - again,
a form of stealing.

[letric]



Since people place higher value on receiving something now instead of later, money has a time value.
When combined with risk, this leads to the concept of interest. When people borrow money, what is
really borrowed is the wealth the money represents. The lender will only freely lend if he can expect
to be repaid and compensated for the risk he took . When borrowing stretches over decades, even a
modest amount of inflation can destroy a substantial fraction of the wealth repaid to the lender. When
government inflates the value of money by deliberate policy, this destroys the amount of wealth bering
paid in long-term contracts and loans. It is the same as having dishonest weights and measures - again,
a form of stealing.

And so we must live with the consequences of our collective behaviour and choices.'
Ewin Barnett -
The Economy and Bible Prophecy

[mammadon]

- Emphasis on consumption and not production
- Economists using faulty economic models to justify policy decisions
- The negative points of macroeconomics in general (speculative and not descriptive)

I think this is the beginning of the end of Western economic dominance, which essentially has been in place for the last 500 years or so. In the coming decades, India and Brazil will rise economically. Brazil even has a larger economy than the United Kingdom now, and will overtake France soon if their growth continues.

That said though, China and India are still growing since they're developing economies, so the problems affecting Europe and the US will not have the same affect.

[miktay]

They are in congress.

Why are they in Congress?

[sacky]

http://www.guardian.co.uk/business/2...-stalk-markets

[letric]

http://www.guardian.co.uk/business/2...-stalk-markets

Happy New Year Zacky ...

[sacky]

Happy New Year Zacky ...

who me the tief or he the ole police

[letric]

who me the tief or he the ole police

[edyle]

- Emphasis on consumption and not production
- Economists using faulty economic models to justify policy decisions
- The negative points of macroeconomics in general (speculative and not descriptive)

I think this is the beginning of the end of Western economic dominance, which essentially has been in place for the last 500 years or so. In the coming decades, India and Brazil will rise economically. Brazil even has a larger economy than the United Kingdom now, and will overtake France soon if their growth continues.

That said though, China and India are still growing since they're developing economies, so the problems affecting Europe and the US will not have the same affect.

"Emphasis on consumption and not production"

Yes, good central point; and of note everything nowadays seems to be produced in CHINA.
China keeps doing sensible things.

[miktay]

Rumors of a near term BRIC renaissance have been greatly exaggerated.

http://www.bloomberg.com/news/2011-1...th-peaked.html

In the past decade, mutual funds poured almost $70 billion into Brazil, Russia, India and China, stocks more than quadrupled gains in the Standard & Poor’s 500 Index and the economies grew four times faster than America’s.
Now Goldman Sachs Group Inc. (GS), which coined the term BRIC, says the best is over for the largest emerging markets.
BRIC funds recorded $15 billion of outflows this year as the MSCI BRIC Index sank 24 percent, EPFR Global data show. The gauge, which beat the S&P 500 by 390 percentage points from November 2001 through September 2010, has trailed the measure for five straight quarters, the longest stretch since Goldman Sachs forecast the countries would join the U.S. and Japan as the top economies by 2050.

“In emerging markets, we’re waiting for things to get worse before they get better,” said Michael Shaoul, the chairman of Marketfield Asset Management in New York who predicted in February that developing-nation stocks would fall this year. The $845 million Marketfield Fund (VONEMBI) has topped 97 percent of peers in 2011, data compiled by Bloomberg show.

BRIC indexes may fall another 20 percent next year, buffeted by the liquidity squeeze stemming from Europe’s sovereign debt crisis, Arjuna Mahendran, the Singapore-based head of Asia investment strategy at HSBC Private Bank, which oversees about $499 billion, said in an interview. Nations such as Indonesia, Nigeria and Turkey may overshadow the BRICS in the next five years as they expand from lower levels of growth, he said.

[lexbarker]

Why are they in Congress?

To fill their pockets.