A New Phase for the Global Economy? - Mark Thirlwell

[wilsontsui03]

Capitalism and free market are completely Not the cause to the current financial crisis. What caused this crisis was exactly the government intervention back the era of Bill Clinton. They passed the act that the banks and FIs were forced to lend money to the poors who did not possess any assets, jobs or stable income. The intervention was just exactly the cause to the subprime mortgage crisis.

[Crazylalalalala]

@wilsontsui03

no its because people were dumb enough to take mortgages they shouldn't have. Its easy to blame the gov't, but in realty its the peoples fault.

[Crazylalalalala]

@wilsontsui03

also no one ever forced banks to give bad loans. and it was actually under the first bush that regulations that where used to prevent such practices decreased.

by the way Clinton economic policies where actually pro small gov't and free market. so kinda ironic that you blame him for it.

[kanakapower]

Look not to any man to save you. Look to Jesus.

Simply pray: Dear God, I admit I am a sinner. I ask you to forgive me of my sins and wash me clean with the blood that Jesus shed on the cross. Help me to turn away from my wicked ways and follow you. I believe Jesus died for me so that I will live forever and I accept him into my heart as my personal savior this day. Help me as I endure these difficult times here on earth. Thank you for your love and grace. In Jesus name. Help me each day. Amen

[rianpop]

yes yes amen brother

[hasatum]

Those who argue that Lehman should have been let to fail never said it would not be painful. They argued that not doing so would be more painful in the long run. They argue that the reason our current crisis is so big now is because we have avoided much smaller recessions in the past. Any system that tries to artificially ignore the fact that the real economy has contracted through artificial means, is doomed to this kind of problem. Governments cannot avoid attempting to do so.

[blackiron60]

You can't say that Marx was wrong when he argued that there was an inherent contradiction within capitalism when every few decades there has been somekind of recession.

[italianchappy]

hence there should be non-capitalist societies without periodical recessions. There aren't, because the cyclical nature of economy comes directly from the cyclical essence of every aspect of nature, from seasons to the electrons' waves. We can't suppress nature's cyclicality in any way.

[blackiron60]

The classic last-ditch defense of capitalism: it's natural so you had better accept it. Once someone, whether they're arguing for capitalism or for anything else, is reduced to that kind of essentialism you know their argument is pretty much dead.

[CHUCKtheFED]

At least he mentioned Lehman AND Venezuela, just not in the same sentence. There are reports that Lehman had as much as $200B in Venezuelan holdings, and that is why they were allowed to fail... as a stab at Chavez.

...Venezuela, by the way, has the highest ratio of gold to issued money. Think about THAT...comrade.

[befranklintoo]

Think about it! the world crisis game. it was done before in order to build the world war. it is now the final thrust for the globalizers. World Order is out to destroy human life.

[neotoy]

meh, economists are such utter prigs. Also he obviously can't see the forest for the trees. systemic collapse is caused by systemic problems, singling out one event is just petty and narrow minded.

[stone1home]

I agree. This guy is a silly twit. He generalizes, oversimplifies, and ignores the major cause of this economic situation: capital flight. He's obviously not an economist. He's a mouthpiece for the financiers.

[Illuminated7]

Actually its the economists who have been the most honest about this, financiers have been responsible for the lies.

[LoganHankins]

lol capitalism in itself is the problem. It will always crash... anyone can be a skeptic as to why when it does... But the reality is that capitalism is why we go through this up and down merry-go-round every so often. Lol plus we arent even backed by gold. So we make money out of thin air... its utter crap

[jchahine]

@neotoy it's like they practice financial witchcraft or something. They believe in something out of nothing