The End of the Financial World as We Know It: Michael Lewis

[talknet]

Quote from talknet:

"Mother Earth" does not have the resources to support 7 billion people. So the "global financial crisis" was inevitable (had to happen)

Quote from talknet:

China and India with 2.5 billion people are responsible for "global financial crisis 2008" which includes "Food crisis + Oil crisis + Metals crisis + Commodity crisis + Real estate crisis + all products crisis"

Human beings can help "Mother Nature" by declaring World War III. It will wipe out atleast 3 Billion people. Then the world will be Cheap, Spacious, Purified and Better Place to live.

For example, if Deers/Stags (herbivorous animals) are not eaten by Lions (carnivorous animals) then herbivorous animals will eat all the vegetation and ultimately Earth will die. Herbivorous animals are more Dangerous than Carnivorous animals.

Since 1950, there has been only developments and no major wars. Humans beings made the BIGGEST MISTAKE by developing Nuclear bombs. They have forgotten that "developments will ultimately lead to Wars". All the Weapons of Mass destruction/Nuclear Bombs will fire one day. Developments will create shortage/scarcity of resources which will lead to Wars ultimately.

World War III is the Ultimate Fate/Future for Mankind.

 

[Eliot Hosewater]

Quote from tradersboredom:

any moron can burn down the house or destroy economies. but it taks a leader or genius to build companies and create wealth.

all these gloom talk is telling us that it's raining now.

recessions and even depressions are part of the business cycle come and they go as always.

You would think the central bankers understand this. Instead they have meddled in the free market and have made it worse, much worse.

 

[MaklodaSux]

That was a good article. Thanks for sharing.

 

[timmyz]

"In its latest push to compel confidence, for instance, the authorities are placing enormous pressure on the Financial Accounting Standards Board to suspend “mark-to-market” accounting. Basically, this means that the banks will not have to account for the actual value of the assets on their books but can claim instead that they are worth whatever they paid for them."

omfg now they're going to suspend mark-to-market accounting. not enough mark-to-market is what got us here and now the government is going to let these pretenders do mark-to-model even more.

usa is dieing. get out while we still can.

 

[trendlover]

Very good article. Michael Lewis saying "The problem is not the greed of the few, but the misaligned interests of the many." is the reason he can write truths he sees on Wall street. He is a writer, and has no interest in hiding anything to protect himself.

 

[Cheese]

Quote from Capablanca:

You're not a fan of insurance right? Good thing you weren't living in New Orleans. You'd probably have scoffed at the notion the levees were susceptible to being broken and stayed there.

It is so sweet that you missed entirely the point of what I posted, namely that there are doomsayers all the time They mostly supply no useful accurracy of timing as to when exactly their predictions will happen in the usually unlikely event their predictions ever become fact.

As to the New Orleans levees my view before the hurricanes of recent years is that they were weak and vunerable. They are better now but a complete redesign and reconstruction of a very strong system is still needed to re-secure New Orleans.