Is capatalism failing?

counter_violent said:
Fek sakes...are we still on about this...I told ya all 2 yrs ago ...stagflation..houses down..wages down....jobs down....and if spiral cycles get a hold....might get a whole lot worse...middle America will start to default on their assets....then watch what happens to the banks.
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Fooking hell, are you going on about Manchester bands again? ;)
 
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There is a good chance that we are heading into an economic correction similar to the 30's, alot of charts point to this.
Would this lead to the kind of tensions that make war more likely? probally the answer is yes although China India etc will be too busy cleaning up to worry about us, so the risk will come from the midddle eastern countries with scores to settle while we are weak and fighting between ourselves
 
Resurgence in fascism? I don't think so. My guess, trade and economic war, carefully and strategically picked corporate scapegoats to flop in a big way, HEAVY media bombardment campaign.
But... I reckon if They want people to get back "in line", They'll have to give Joe Av access to another form of investment/get rich quick. Housing is an extremely tangible and easy to understand method of investment and now the drip bottle has been taken away from the cage. Speaking from my experience Joe Av feels so far removed from the mysterious and intangible world of stocks and options, CDOs and CDSs plastered all over the news and just finance in general. They tried advertising bonds (with negative real rates lol) but I doubt Joe hit the roof at the prospect of earning 3% + 1% bonus for a 5 year fixed term lol. Just wondering what's next. Maybe we'll just see a lot of entrepeneurs popping up? Maybe people will give up on their dreams, get back to work and stay in their place for Dave C Corporation?
 
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Iran slams capitalism at G15 opening

The G15 summit has opened in Tehran with Iranian president blaming capitalist powers for causing the economic crisis with "deception, materialism and monopoly."

"Such policies have resulted in the downfall of the world economic order. As a result, billions of dollars in losses were imposed on the world economy. Poverty and food crisis have spread in poor countries," said Mahmoud Ahmadinejad on Monday.

"The developing countries have also shouldered massive cuts and losses. The world economy's reliance on the principles of liberal capitalism and these recent incidents show that this system of thought [capitalism] has lost in practice," he added.​

Ahmadinejad was speaking at the opening ceremony of the 14th summit of the Group of 15 developing countries.

The gathering brings together senior representatives and policymakers from the 18 Asian, African and Latin American states that make up the group.

The G15 summit will focus on a range of issues, including the global financial crisis, which started in the US. Energy, security and environmental issues will also be on the agenda.
http://www.presstv.ir/detail.aspx?id=126771&sectionid=351020101
 
Re: Iran slams capitalism at G15 opening

Black Swan said:
The G15 summit has opened in Tehran with Iranian president blaming capitalist powers for causing the economic crisis with "deception, materialism and monopoly."

"Such policies have resulted in the downfall of the world economic order. As a result, billions of dollars in losses were imposed on the world economy. Poverty and food crisis have spread in poor countries," said Mahmoud Ahmadinejad on Monday.

"The developing countries have also shouldered massive cuts and losses. The world economy's reliance on the principles of liberal capitalism and these recent incidents show that this system of thought [capitalism] has lost in practice," he added.​

Ahmadinejad was speaking at the opening ceremony of the 14th summit of the Group of 15 developing countries.

The gathering brings together senior representatives and policymakers from the 18 Asian, African and Latin American states that make up the group.

The G15 summit will focus on a range of issues, including the global financial crisis, which started in the US. Energy, security and environmental issues will also be on the agenda.
http://www.presstv.ir/detail.aspx?id=126771&sectionid=351020101
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Yeah well, he's clearly a trouble maker ain't he.
Even if it weren't for the spectre of weapons of mass destruction (could the world really fall for that one again? - Of course it could!), this is enough to make sure he will be on Obama's and Dave-I'd-Really-Rather-You-Called-Me-Prime_Minister's hit list of Next-Country-We-Invade.

Since Iraq and Afghanistan went so well, let's do it again!

"My centre is giving way, my right is retreating, situation excellent, I am attacking."
(Marshal Ferdinand Foch, message sent during the first battle of the Marne, September, 1914 )
 
counter_violent said:
Speaking of which.......:rolleyes:

http://www.marketwatch.com/story/more-homeowners-choose-to-default-on-loans-2010-05-17
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This was popular in the UK after the late 80's housing bubble that created a load of negative equity. I know the number of people chucking keys back increased as they relied on poorly worded mortgage indemnity guarantees to justify their behaviour. Point is CV that it wasn't sufficient to enough volume to warrant deflating prices in itself.

Interesting though. Plus ca change, plus c'est la meme chose.
 
I've just re-read "Liar's Poker" by Michael Lewis. It should be required reading for all those who talk and seek advice from a broker on the phone!

This book dealt with the time leading up to the 1987 crash. Have we learned any thing since then? Have we, hell!!
 
Lenin and one of his lieutenants was walking and talking one day about their dream to end capitalism for once and for all.

His lieutenant replied but sir there is not enough rope in the world to hang all the capitalists.

Lenin replies, "No, but the capitalist greed will drive them to manufacture it!"


I considered this to be a sick joke once upon a time but now it has almost played it self out such that we have the state taking control of the flag-ship private enterprises - like the banks into state control.


Let's hope capatilism has only paused and not crashed in its journey... :whistling
 
I remember just a few years ago with neo cons scaring the crap out of me while the American public seemed to be getting more and more scary and unpredictable (as did we here under TB) I thought this was it, here we go a slide to fascism. I felt for a few years this was how Germany was before WW2. We are a long way away from those dark post 911 days now. Gorgonzola Brown helped a little and the election of Obama was so out of the blue just as I lost all hope in the yanks sanity. So in short NO. Yes Brown was unpopular with the sheeple because the media told them he was a naughty bad man.
 
Capitalism is definitely unstable in its current incarnation.

A good documentary, although I think it would be better if they'd stuck to the subprime mess rather than moving on to rant about high frequency trading.

watch
 
Adamus said:
Capitalism is definitely unstable in its current incarnation.

A good documentary, although I think it would be better if they'd stuck to the subprime mess rather than moving on to rant about high frequency trading.

watch
Click to expand...

So I watched this yesterday and was overwhelmed with the way the quants see themselves. I then have ahd it on in the background today just listening to it whiclst I was doing some other non-trading stuff and picked up on the fact that the guy who built the software to price CDO's said he'd modelled it on prime mortgages and that people were using it to price based upon sub-prime mortgages. Is this ultimately how the risk got priced out of sub-prime? People misusing software modelled for one purpose for another?
 
robster970 said:
So I watched this yesterday and was overwhelmed with the way the quants see themselves. I then have ahd it on in the background today just listening to it whiclst I was doing some other non-trading stuff and picked up on the fact that the guy who built the software to price CDO's said he'd modelled it on prime mortgages and that people were using it to price based upon sub-prime mortgages. Is this ultimately how the risk got priced out of sub-prime? People misusing software modelled for one purpose for another?
Click to expand...

I watched that too. Was very interesting. I never dreamed that some of the programs were for things like google search. I always assumed some sort of volume: price move:correlation thing. Makes it easier to understand why google is so big and political now though eh?

I think people were packaging the subprime in with the prime like a drug dealer cutting cocaine lol.

Personally I think it's the probabilities. I've always said that valuing an asset by probability is ridiculous. http://en.wikipedia.org/wiki/Decision_theory


Anyone know where I can get any other docs like this?
 
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