The early AFL CIO activists" the struggle of labor and capital" could they imagine Capital? moving production To "anywhere on earth" to exploit the cheap labor, Corrupt weak government's, who have no interest or control over the destruction and pollution of pristine natural environment, rivers and the sea ,100 years of US industrial and agricultural production left so many toxins on the land and in the rivers This military industrial complex has to be stopped ,the old guard of labor would say
There is nothing just about a capitalist economy: it just means that your livelihood will be at the mercy of a relative handful of investors, stockbrokers, and speculators in one of the big global financial hubs. The more countries and peoples that adopt "free-markets" the more people will be at the mercy of the financial elite.
And now Obama want to give the Fed, the primce cause of this economic collapse, more power. But I guess the sheep will keep dreaming about how he will bay their gas bills and give them free health care.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
Essentially, human behavior needs to catch up with technology? Sounds like technology is driving the markets right now, and people, as a group aren't behaving rationally.
No mention of the real problem, you know the ones that produced all the free or low interest cash in the first place, the quasi-private/government Federal Reserve, without which this crisis could NOT have materialized. No lets blame greed, because before last year greed didn't even exist. Real News my ass
The Fed made the situation much worse by propping up the bubble and helping to reinflate it with bailouts. But the Fed did not create the quadrillion dollar derivatives bubble.
Sure the Fed is responsible for the derivative markets explosion to 250 trillion dollars (not quadrillion). The derivatives would not have even been able to exist without the underlying assets paid for by the easy money policies of the Fed. Unintended consequences and lack of understanding about the economy by the Fed creates the business cycle. Theres nothing natural about the business cycle as they would have you believe.
Agreed, but if you look back at every post industrial recession before 1913 it was caused by a preceding massive increase in the money supply. Since the Fed now controls the money supply it controls the boom which leads to an inevitable uncontrollable bust. PersianP is right about the original intent, too bad it had the opposite effect in the long run. The Fed not only yielded to the big banks as expected, but became the enabler of big gov deficit spending
In speaking to insiders who have dealt with the derivatives trades at several big global banks; it is clear to say that the Federal Reserve did not have any direct control over the boom or the quadrillion dollar bubble. It simply yielded to the movements in the market and the pressures to lower interest rates. If there was no Fed, then interest rates would've simply followed the market-trends which were stampeding in one direction.
The Federal Reserve could've pounced on the bubble, but instead it yielded to the investors and the hedge-funds. Joining in their game and then bailing out the big risk-investors shows that the Federal Reserve is simply a private corporate insurance-hedge for the big banks to guarantee the socialising of their losses.
If there were no fed, not only would int rates be much higher as determined by the market, but there would be no discount window or other Fed open market operations for the banks to get the liquidity needed to produce a derivative bubble of this magnitude. I dont believe that a derivative market could even exist without Fed manipulation of int rates and money supply. Int rates would be too high to make a profit on derivatives if the Fed weren't printing $ from thin air and loaning it at 1%
jjrglobal, that is purely market-apologism and speculation on your part. It does not match the full reality of what is happened.
True, the Fed has made things much worse with the bail-out bubble and acting as the failure-investment hedge but you give "the market" (as if its somehow free of alliances, nefarious influences, etc) too much credit (pardon the pun).
If we don't look at the source of the problem, then we will never fix the problem. Open market operations by the fed in collusion with artificially low interest rates is the root cause of all our financial problems. You underestimate the importance of interest. If our savings rate was negative, how could int rates be 1%. Interest rates should be determined by bank deposits on an individual basis not the FOMC for the country.The market should be free from the most nefarious influence of all, FED
The Federal Reserve was there primarily to ensure that government did not get involved in regulating the market (e.g. via the Glass-Steagal Act, reforming SDR laws, monitoring derivatives transactions, etc). It was put there as an insurance to allow the market to be free of government interference, because the Fed is a private body. The speculative booms reflected low interest rates due to high credit availability - and the Fed yielded to the big banks. The Fed then bailed the big ones out.
Terrifying that someone actually has a conscience about the world - I suppose you can corrupt or defile someone that has a pure heart and a cultural awareness of karma.
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this guy looks like Al Qaida!
IvanPetrenko 2 years ago
IvanPetrenko: and you look like a communist?....really doesn't help matter does it?
MajNorberg 2 years ago
The early AFL CIO activists" the struggle of labor and capital" could they imagine Capital? moving production To "anywhere on earth" to exploit the cheap labor, Corrupt weak government's, who have no interest or control over the destruction and pollution of pristine natural environment, rivers and the sea ,100 years of US industrial and agricultural production left so many toxins on the land and in the rivers This military industrial complex has to be stopped ,the old guard of labor would say
sanfordhousing 2 years ago
There is nothing just about a capitalist economy: it just means that your livelihood will be at the mercy of a relative handful of investors, stockbrokers, and speculators in one of the big global financial hubs. The more countries and peoples that adopt "free-markets" the more people will be at the mercy of the financial elite.
blackiron60 2 years ago
And now Obama want to give the Fed, the primce cause of this economic collapse, more power. But I guess the sheep will keep dreaming about how he will bay their gas bills and give them free health care.
JackNeedles 2 years ago
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
Alan Greenspan
seegel 2 years ago
Gold tends to be more deflationary than inflationary (on average).
PersianPaladin 2 years ago
Let's see the coming months...
seegel 2 years ago
What do you mean?
jjrglobal 2 years ago
Wow did Greenspan say this? When?I mean he's right of course, I just wouldn't expect5 the former head of the central bank to spout such truth!
jjrglobal 2 years ago
Essentially, human behavior needs to catch up with technology? Sounds like technology is driving the markets right now, and people, as a group aren't behaving rationally.
t4ac3y1 2 years ago
portfolio theory is bullshit. diversification only works if there's no black swan.
mrzack888 2 years ago
I noticed the audio is tweaked. I think it's called stereo.
VexRiot 2 years ago
This guy is good, where's part 3 ?
loai050 2 years ago
Obama is a jackass.
AcePilot101 2 years ago
No mention of the real problem, you know the ones that produced all the free or low interest cash in the first place, the quasi-private/government Federal Reserve, without which this crisis could NOT have materialized. No lets blame greed, because before last year greed didn't even exist. Real News my ass
jjrglobal 2 years ago 2
Good point, they should have mentioned the Fed. And now the Fed has even more power.
Renegen1 2 years ago
The Fed made the situation much worse by propping up the bubble and helping to reinflate it with bailouts. But the Fed did not create the quadrillion dollar derivatives bubble.
PersianPaladin 2 years ago
@persianpaladin
Sure the Fed is responsible for the derivative markets explosion to 250 trillion dollars (not quadrillion). The derivatives would not have even been able to exist without the underlying assets paid for by the easy money policies of the Fed. Unintended consequences and lack of understanding about the economy by the Fed creates the business cycle. Theres nothing natural about the business cycle as they would have you believe.
jjrglobal 2 years ago
The business-cycle existed even before the existing of the Federal Reserve during the mid to late 19th century.
PersianPaladin 2 years ago
Agreed, but if you look back at every post industrial recession before 1913 it was caused by a preceding massive increase in the money supply. Since the Fed now controls the money supply it controls the boom which leads to an inevitable uncontrollable bust. PersianP is right about the original intent, too bad it had the opposite effect in the long run. The Fed not only yielded to the big banks as expected, but became the enabler of big gov deficit spending
jjrglobal 2 years ago
In speaking to insiders who have dealt with the derivatives trades at several big global banks; it is clear to say that the Federal Reserve did not have any direct control over the boom or the quadrillion dollar bubble. It simply yielded to the movements in the market and the pressures to lower interest rates. If there was no Fed, then interest rates would've simply followed the market-trends which were stampeding in one direction.
PersianPaladin 2 years ago
The Federal Reserve could've pounced on the bubble, but instead it yielded to the investors and the hedge-funds. Joining in their game and then bailing out the big risk-investors shows that the Federal Reserve is simply a private corporate insurance-hedge for the big banks to guarantee the socialising of their losses.
PersianPaladin 2 years ago
If there were no fed, not only would int rates be much higher as determined by the market, but there would be no discount window or other Fed open market operations for the banks to get the liquidity needed to produce a derivative bubble of this magnitude. I dont believe that a derivative market could even exist without Fed manipulation of int rates and money supply. Int rates would be too high to make a profit on derivatives if the Fed weren't printing $ from thin air and loaning it at 1%
jjrglobal 2 years ago
jjrglobal, that is purely market-apologism and speculation on your part. It does not match the full reality of what is happened.
True, the Fed has made things much worse with the bail-out bubble and acting as the failure-investment hedge but you give "the market" (as if its somehow free of alliances, nefarious influences, etc) too much credit (pardon the pun).
PersianPaladin 2 years ago
If we don't look at the source of the problem, then we will never fix the problem. Open market operations by the fed in collusion with artificially low interest rates is the root cause of all our financial problems. You underestimate the importance of interest. If our savings rate was negative, how could int rates be 1%. Interest rates should be determined by bank deposits on an individual basis not the FOMC for the country.The market should be free from the most nefarious influence of all, FED
jjrglobal 2 years ago
The Federal Reserve was there primarily to ensure that government did not get involved in regulating the market (e.g. via the Glass-Steagal Act, reforming SDR laws, monitoring derivatives transactions, etc). It was put there as an insurance to allow the market to be free of government interference, because the Fed is a private body. The speculative booms reflected low interest rates due to high credit availability - and the Fed yielded to the big banks. The Fed then bailed the big ones out.
PersianPaladin 2 years ago
The Fed is run and owned by the big banks. They are its board, they are its shareholders.
dylbro 2 years ago 2
Terrifying that someone actually has a conscience about the world - I suppose you can corrupt or defile someone that has a pure heart and a cultural awareness of karma.
Wish there were more humans like Sony Kapoor.
PsyogiBottoms 2 years ago 3
At least LEH had some good employees! Kudos to you my friend!
RemiG2006 2 years ago