stock market crash on the way spring/summer 2012?

[MoonRocket]

Then explain it to me genius. Tell me why you think greedy capitalists haven't made the cow an endagered species.

Dur, ummmm cos I fink sqillions are made from breedin' em on squillions of acres specialy prepared for "cows".

 

[new_trader]

Dur, ummmm cos I fink sqillions are made from breedin' em on squillions of acres specialy prepared for "cows".

Yes, capitalism....Derrrr

You think this is about Rhino's don't you? *LOL*

 

[MoonRocket]

Yes, capitalism....Derrrr

You think this is about Rhino's don't you? *LOL*

Oh! I get it. Capitalism will save the rhino!
Yummy. nice big rhino steaks....could work!
Mind you, capitalism as we know it is on its last legs.
The so called financial meltdown is barely a precursor of what is to come.
Like it or not, we will all be embracing some sort of socialism.
Can hardly wait to hear the Americans squealing like stuck pigs when it arrives.

 

[new_trader]

Oh! I get it. Capitalism will save the rhino!
Yummy. nice big rhino steaks....could work!.

I wouldn't say capitalism would save the Rhino just like I wouldn't say that socialism or communism would kill it off. Pat is the one who draws conclusions between capitalism and anything he doesn't like. Pat probably doesn't like murder or burglary so will he blame capitalism for those? Money isn't always the motivation behind all that bad things in society. There are people in this world who will do things for money and whether it is legal or not is irrelevant to them.

Mind you, capitalism as we know it is on its last legs.
The so called financial meltdown is barely a precursor of what is to come.
Like it or not, we will all be embracing some sort of socialism.
Can hardly wait to hear the Americans squealing like stuck pigs when it arrives.

Capitalism as we know it isn’t capitalism but people like Pat (and you?) blame capitalism for all the problems. I partly agree with you, China is embracing capitalism as the USA and U.K abandon it and become welfare states. The American empire is crumbling and the balance of power and wealth is moving east. This is the beginning of the decline of the West...I hope the socialists among us are happy.

 

[MoonRocket]

Capitalism as we know it isn’t capitalism but people like Pat (and you?) blame capitalism for all the problems.

Capitalism and consumerism combined is a huge, huge problem.
But it is actually greed that is the source of just about everything.
I had the privilege of friendship with a very highly ranked Russian Communist scientist,
even in this day and age he cannot go back because they would imprison him. He told stories of life behind the Iron Curtain.....
greed and environmental devastation pretty well mirrored the West.
It is not just the well documented greed of bankers and CEOs but the man in the street is every bit as guilty in his own small way.

 

[new_trader]

Capitalism and consumerism combined is a huge, huge problem.
But it is actually greed that is the source of just about everything.
I had the privilege of friendship with a very highly ranked Russian Communist scientist,
even in this day and age he cannot go back because they would imprison him. He told stories of life behind the Iron Curtain.....
greed and environmental devastation pretty well mirrored the West.
It is not just the well documented greed of bankers and CEOs but the man in the street is every bit as guilty in his own small way.

People all around the world want to improve their standard of living and that has some negative consequences but the price mechanism of the free market is the best method of making sure resources are utilised most effectively and efficiently. I think this brilliant essay explains it best:

Leonard E. Read (1898-1983) founded FEE in 1946 and served as its president until his death. “I, Pencil,” his most famous essay, was first published in the December 1958 issue of The Freeman.

I, Pencil | The Freeman | Ideas On Liberty

 

[Pat494]

Then explain it to me genius. Tell me why you think greedy capitalists haven't made the cow an endagered species.

I am not saying everything about capitalism is bad. Obviously money can be made out of keeping cows and thus they survive. It's just that there is a very noticeable downside too, which should be contained.

I am more of a mixed market enthusiast, neither extreme Marxist nor capitalist.
The well being of people, the enviroment etc are more important imho than flawed academic theories or greedy selfishness.

 

[new_trader]

The well being of people, the enviroment etc are more important imho than flawed academic theories or greedy selfishness.

I am not even sure what you are debating now. Greedy selfishness is bad? I agree. So, what has human nature got to do with anything? If you believe in the well being of people why do you want to deny people the right to prosper in a free society? I think I care more about the well being of people than you do.

 

[MoonRocket]

Interesting essay for sure and I agree with many of its thoughts.

The lesson I have to teach is this: Leave all creative energies uninhibited. Merely organize society to act in harmony with this lesson.

This thought can only work without greed so in this world it is only idealogical nonsense.
Now consider this quote,

There isn’t a single person in all these millions, including the president of the pencil company, who contributes more than a tiny, infinitesimal bit of know-how.

Why does this guy or the CEO get paid millions of dollars more than the guy that operates a machine when he knows no more about the pencil.
Why does the hired gun (CEO) get a pay rise when he sacks two hundred workers
and yet if he took the tiniest of pay cuts, the workers could stay?
And besides, the sentiments in the essay were actually tried in a massive scale.
Remember that nut job Greenspan, he read that essay and let the bankers use all their uninhibited creativity.

People all around the world want to improve their standard of living and that has some negative consequences but the price mechanism of the free market is the best method of making sure resources are utilised most effectively and efficiently. I think this brilliant essay explains it best:

Leonard E. Read (1898-1983) founded FEE in 1946 and served as its president until his death. “I, Pencil,” his most famous essay, was first published in the December 1958 issue of The Freeman.

I, Pencil | The Freeman | Ideas On Liberty

 

[wackypete2]

I'm confused. So rhinos will be the cause of the next stock market crash? Maybe I'm in the wrong thread.

Peter

 

[Pat494]

I'm confused. So rhinos will be the cause of the next stock market crash? Maybe I'm in the wrong thread.

Peter

errrrrrr yep good one Pete

one should reserve all ones brains for the market battle imho

 

[Atilla]

Capitalism has clearly failed.

Anybody who thinks otherwise obviously doesn't understand what capitalism is :!:

 

[Pat494]

Capitalism has clearly failed.

Anybody who thinks otherwise obviously doesn't understand what capitalism is :!:

The problem is with what to replace it with.

A new system needs to be more than competitive with capitalism, as well as fairer and kinder. Not impossible imho.

 

[Atilla]

The problem is with what to replace it with.

A new system needs to be more than competitive with capitalism, as well as fairer and kinder. Not impossible imho.

A little like managed exchange rates we have a mixed system of part capitalism and part socialism. Each party puts forward the other system's interference for our ills.

Politicians have made an art as well as a career out of it laboring their superior approach to it all.

I don't know what will replace it but I'm sure it will evolve and jump out at us such that in another 200 years we'll all wonder how we ever got by as we do now...

 

[wackypete2]

cronyism is alive and well, at least on this side of the Atlantic.

Peter

 

[MoonRocket]

A new system needs to be more than competitive with capitalism, as well as fairer and kinder. Not impossible imho.

We can be sure it will be...... unplanned, unexpected and unfair.
What system in the last 3000+ years of recorded history was none of the above.

 

[ChocolateDigestive]

Oy this threads about the stock market crash not lefty musings! FTSE bucket shop gapped down a treat this afternoon, gives that warn feeling inside.

 

[Pat494]

Oy this threads about the stock market crash not lefty musings! FTSE bucket shop gapped down a treat this afternoon, gives that warn feeling inside.

More like a steady slide into the abyss ?

 

[wackypete2]

Monday is going to be exciting!
Decent NFP moves in the fx pairs.

Peter

 

[MoonRocket]

Oy this threads about the stock market crash not lefty musings! FTSE bucket shop gapped down a treat this afternoon, gives that warn feeling inside.

Sorry mate.....I see Deadbroke has new friend :cheesy:
Nah. No big falls next week.
The gap will be filled and the market will continue to climb. No big drops till we have a blow off.