Investment

» Inya Ivkovic - Browsing the morning papers

» Inya Ivkovic - The WSJ - "Default Fears Unnerve Markets"

» Inya Ivkovic - The WSJ - "Latest Concern: Commercial-Mortgage Bonds"

» Inya Ivkovic - The WSJ - "WaMu, Caught in Mortgage Turmoil, Posts Big Loss"

» Inya Ivkovic - The WSJ - "Why Banks' Pain Could Continue"

» Jas_Jain - Re: The WSJ - "Why Banks' Pain Could Continue"

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Let me repeat for the hundredth time:

Depressions are caused by Bankers' Mischief.

This time the difference is that the central bankers' mischief exceeds that of the private bankers! Amazingly, dopes believe that the central bankers will help contain the Credit Crisis. Misery awaits those who pray to false gods.

Jas

-- posted by Jas_Jain

» Inya Ivkovic - The WSJ - "Credit Scare Spreads in U.S., Abroad"

» Normxxx - The WSJ - "Credit Scare Spreads in U.S., Abroad"

Comparison To August Is Fair, With A Big Caveat

-- posted by Normxxx

» permabear - Capitalism's enemies within- Robert Samuelson

This column supports Jas' contention that Wall Street's insiders are greedy "crooks" as he would call them. The excesses on Wall Street in the past few years with the derivative mania coinciding with the unbelieveable pay packages of the management and even average Joe employee at these firms is unbelieveable. There is going to be huge fall-out from the greed coming from Wall Street. And these folks, who have been living high on the hog in their multimillion dollar apartments in Manhattan are largely to blame for the coming collapse of the overall economy. Just as in the Enron debacle, the greed of these Wall Street insiders is going to blow up in their faces, when the public and the government comes back asking for payback.

-- posted by permabear

» Jas_Jain - Re: Capitalism's enemies within- Robert Samuelson

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Thanks, Perma.

"Amid the mayhem on world financial markets, it is becoming clear that capitalism's most dangerous enemies are capitalists."

I came to this conclusion more than ten years ago. Only a born-and bred American dope (by that I mean "educated" Americans like lawyers, doctors, economists, engineers, psychologists, accountants, etc.) could have failed to see this for so long, especially, after the two greatest bubbles of their kind in US history. A dope doesn't know who creates bubbles and who benefits the most from them after all is said and done. Culprits behind the Housing Bubble - Bush, Greenspan & Bernanke - are certifiable evildoers.

Democracy in America is a total fraud. The political system as well as the economy are controlled by capitalists, who just happen to have turned into Crooks mostly since 1995.

In America we have a deadly combination - The Baby Doomers population that was bred in the Great American Dope Factory and the ruling elite and their agents, e.g., Fed, who are Crooks.

Future of America, or lack thereof, is not in doubt.

Jas

-- posted by Jas_Jain