Thursday, September 17, 2009

Why capitalism fails

The man who saw the meltdown coming had another troubling insight: it will happen again
“Minsky” was shorthand for Hyman Minsky, a hitherto obscure macroeconomist who died over a decade ago. Many economists had never heard of him when the crisis struck, and he remains a shadowy figure in the profession. But lately he has begun emerging as perhaps the most prescient big-picture thinker about what, exactly, we are going through. A contrarian amid the conformity of postwar America, an expert in the then-unfashionable subfields of finance and crisis, Minsky was one economist who saw what was coming. He predicted, decades ago, almost exactly the kind of meltdown that recently hammered the global economy.

17 comments:

  1. Let me tell you why the bastard of capitalism is embraced,  its true center. It is embraced because it is the best instrument of the few at the top to exploit the world at the expense of the majority.  The fact of the matter is that the moneyed elite do not care about anyone else,  and the government systems which w have in place are formed as franchises for these few - not for the people.  They will continue to rape the people, and say (as the self-elected predominant voice) there is no other way - it is complete bullshit.

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  2. <span>Let me tell you why the bastard of capitalism is embraced,  its true center. It is embraced because it is the best instrument of the few at the top to exploit the world at the expense of the majority.  The fact of the matter is that the moneyed elite do not care about anyone else,  and the government systems which we have in place are formed as franchises for these few (for the most part) - not for the people.  They will continue to rape the people, and say (as the self-elected predominant voice) there is no other way - it is complete bullshit.  </span>

    <span>Like a poker tournament,  there is only one table and very few who win at the end,  and how is it done - by accumulating the most cash to dominate the others while minor losses are like water off a ducks back to the ones with the biggest pile of cash.  The sooner you recognize this the better,  because it does no good until this is recognized and embraced by the people - it is the first step of real change (so do not ask me about the damn "plan" again if you cannot embrace the first indispensable step - simple recognition and acknowledgment).
    </span>

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  3. Poor fleming,  I bet you he is dying to post on this subject...lol  Wonder what he would say :)

    Why don't we find out TGIA :)

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  4. Sure v..
    But first I want an apology..for having resorted to the despicable method of quoting half of a sentence I've written which gave the sentence an opposite meaning and second for all the racial, not personal, slurs he spewed at me. As for his assessment of my skills as an artist I forgive him because he's obviously incapable of any particular aesthetic  sentiment anyway. Additionally, I want him to apologise on his knees with a tear, fake or real I don't care,  as long as I percieve a sparkle in his wicked eyes..

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  5. The ball is in his part of the field now..His move.

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  6. How will you know he is on his knees from all the way over there?

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  7. <span>Sure v.. 
    But first I want an apology..for having resorted to the despicable method of quoting half of a sentence I've written which gave the sentence an opposite meaning and second for all the racial, not personal, slurs he spewed at me. As for his assessment of my skills as an artist I forgive him because he's obviously incapable of any particular aesthetic  sentiment anyway. Additionally, I want him to apologise on his knees with a tear, fake or real I don't care,  as long as I percieve a sparkle in his swiney eyes..</span>

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  8. I want him to come, crawling,  all the way to Sydney  ..Like the pilgrims do in a procession to Fatima in Portugal..

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  9. What? Impossible?  Not when one is so desperate and ready to kill in order to have his comments showing here!!

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  10. Did I mention that I want him to kiss my "ay-rab"(sic) ass too? No?! Forget it then, because this is NOT negotiable!

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  11. Gee ... tgia  Are you sure you don't want to negotiate piece in the ME with the pricks ?

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  12. Speaking of the economy, a new dynamic is becoming salient: Older people are getting richer, and younger people's incomes are "falling off a cliff". It's nice to know that by this study's definition of young, that I still have years to go before I am considered old. On the other hand, it seems like I have a pretty rough seniorhood ahead of me:

    http://www.usatoday.com/news/nation/census/2009-09-17-young-people_N.htm

    I thinkt his statistical breakdown is very important in determining how wealth is distributed over the next few decades.

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  13. Anectodally, the people doing best in the US economy seem to be knowledge workers in their twenties and thirties.

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  14. VAA
    In a negotiation always place the bar as high as  possible. I learned this from the Israeli scum.

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  15. <span>VAA 
    In a negotiation always place the impossibly high. After that lowering it a bit looks like you made a huge concession and gives you an image of  moderation and compromise..I learned this from the Israelis. </span>

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  16. <span><span>VAA  
    In a negotiation always place the bar impossibly high. After that lowering it a bit looks like you made a huge concession and gives you an image of  moderation and compromise..I learned this from the Israelis. </span></span>

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