Countdown: The Near Miss on Complete Financial Collapse
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Enron used info abstract psychology. IMF are still using it on top of the money abstract psychology. Late trench of this created fault sense that only export will build American industry but the reality of routing is not from local effort. They are just some en routes by CEOs routing low wage production to low wage consumptions. A flipped operation similar to Enron info abstract scam: All people ordinary productivity and earnings are completely blocked by CEOs who don't even trust themselves.
beancube2008 2 years ago
How can you have an "electronic" run on the banks? Surely you can only take it from one account to the other? The money is still in the Banking system - yes? The $550 billion from the money market would have ended up in some other electronic account. A run on the banks usually means people are withdrawing cash to put in their pocket or under the mattress so it can't be electronic.??? Is the reserve spinning a yarn?
bellie888 2 years ago
Computers make transactions too fast. Too much of our wealth is a dream, sea-foam, electronic static in machines. Debt.
If somebody stops paying at just the wrong second it can all collapse. It has.
xhagast 3 years ago
Why did they assume that the amount withdrawn would grow to $5.5 Trillion from the money market. That seems highly unlikely unless there is something much larger occurring with your credit structure.
redsuncloud 3 years ago
repubs are so short sighted they'd never understand the consequences of letting anything fail, let alone banks.
Like rabid wolves the repubs stand by and howl with glee as the world collapses around them.
il128 3 years ago
Communism died of it's own shortcomings. Let capitalism die too! No More Money! No More Money! Abolish all financial systems! Yay!
MikeNobodyIsBack 3 years ago