I not only enjoyed the video you sent but also several others. I am not an economic wizard but I think I understand; however if I tried to explain it I would get as tangled up as a kitten in a basket of yarn. I don't know how it all goes together but printing money without a gold reserve is no better than Parker Brothers printing monopoly money.The banks sell worthless notes to the Federal Reserve for worthless money which the banks then loan to people for goods and services they can't afford and as soon as they start falling behind in their payments the banks once again sell the new worthless notes to the Federal Reserve and to buy these worhless notes they print more worthless money... Then the Federal reserve tries to sell these worthless notes they have bought to foreign companies but since it is obvious that soon the U. S. won't be able to redeem them with real secured money, it is going to get harder and harder to make money with the interest. I wrote this out here because I think you are patient enough to read it and tell me if I have the picture correct. Thanks, I hope you have a good weekend.
devastating!
The Fed needs an audit (enema).
Tremendous little vid! I've seen a few of these floating around here on Xanga and enjoy them very much.
It's becoming obvious that our nation's wealth is being ransacked and pillaged and that domestic policy is being specifically designed to cause catastrophic failure. Economic collapse is eminent. I wonder how much time we have?
"The only thing deflating that I can see is the fed's credibility."
"When you call a plumber to fix something that is broken, they generally fix it not break it worse."
I love it... Except for the voice. It reminds me of the NOAA weather service automated radio voice. And it gives me PTSD or something to listen to it. LOL
The worst flaw in the economy is the fact that it's so complex that it takes a team of financial wizards to sort it out. It only is so because of financial products invented to game it.
@jasonwl - the gaming is certainly with intent and preplanned. One has to wonder is it complex or is it a smokesc reen, enabled by a serious lack of curiosity in the market place , investigative journalists (lol) and regulators. If you do not understand what you are regulating it is like a referee who doesn't know how to play football being assigned to the Super Bowl...maybe because he looks good in black and white or is friends with the owners.
@ProvokingThought - Preplanned by whom? I believe anyone gaining massive wealth while their employees and/or customers are falling apart because of any action taken by their company is a valid suspect to investigate for answers. Unless you consider the overpaid exec(s) as scapegoat(s) to misdirect investigations long enough to distort or destroy real evidence.
@jasonwl - the head of the regulatory agencies came from the very interests who they regulate.
The disparity of wage between employees and company owners (these executive are normally very large stock holders-owners) is a not even an issue in this discussion. If people are not paid their true value, why don't they find work where their value is rewarded or invest in and start their own firms? Labor rates are a direct reflection of demand for services vs. the supply of said labor. I will note that many people value their worth much higher than it is in the market place (which is different than their worth as a human being). The scenario you give is normally one from a public held and traded company which would have oversight from several government agencies. The executives are voted in by the owners of the company. I don't see where I should feel good or bad about either the profit or loss an owner of a company makes from his investment. If companies pay off regulators who is the evil one-the one who offers the bribe or the one who takes it ? Both? How about regulatory agencies that are staffed by people who regulate the industry they came from and do not really regulate?
Our problem was never lack of regulation, it was one of lack of enforcement or selective enforcement. the core issue? ...government is funding much of this and failing to enforce the laws it passes and peoples response is to pass more regulations.
@jasonwl - I failed to address your initial question: worthless products packaged into complex financial products so as not to be able to be parsed as to their true value is fraud by design...therefore preplanned.
@ProvokingThought - I get what you're saying. But this applies everywhere there's a high markup on a product vs the cost of its creation. The only thing about it that pisses me off is that I can prove that better products than large software corps make are made as community efforts, and nobody will hear of it. Instead they spew nonsense about how said corps contributed to make the world a better place. Nonsense, because their contribution is less than one percent of their revenue; and mostly geared to continue or enhance their own revenue stream. The community devs contribute their entire effort so people can grow from them at as little cost and effort as possible; and still end up with at minimum a comparable product when they don't have to rip something out that's vaguely described by a patent. How do we make the world as free as possible when people continue to support big companies who leach IP from open efforts at the expense of everything but their own profits? A corp (software especially) typically innovates only where it needs to to stay alive and can't buy out someone else to achieve the same thing. Then when it owns the market, sells for many times the cost of creation and uses the patent system to prevent competition by anything similar. Small to medium companies and individuals can't afford to fight patent suits brought against them, even when both sides know the one being sued is right, so they conform or fold. That's what hurts innovation outside market leaders and is the reason the big players don't need to so much.
Solution 1) Fix the patent system. Solution 2) Dump the patent system Solution 3) Be willing to learn from people who actually look into why things cost > 100 times what they should or need to. Then boycott those companies who readily rip everyone off while convincing the masses that what they offer is best. In the end this would lead to "Solution 2" as the patent system was obsoleted the moment everyone started self publishing on the internet. Nearly all ideas that would have patentable value, aside from hindering independent similar innovation by others, only those with very deep pockets can afford to experiment with anyway.
Not everyone wants or needs to be megawealthy. People who know better could live well off five hours per week of average wages if people who drive markets only wanted enough for themselves to be healthy; unless tied to someone who refuses.
Comments (12)
"Is this an episode of the Twilight Zone?"
"Is this a nightmare?"
If only it were...
I not only enjoyed the video you sent but also several others. I am not an economic wizard but I think I understand; however if I tried to explain it I would get as tangled up as a kitten in a basket of yarn. I don't know how it all goes together but printing money without a gold reserve is no better than Parker Brothers printing monopoly money.The banks sell worthless notes to the Federal Reserve for worthless money which the banks then loan to people for goods and services they can't afford and as soon as they start falling behind in their payments the banks once again sell the new worthless notes to the Federal Reserve and to buy these worhless notes they print more worthless money... Then the Federal reserve tries to sell these worthless notes they have bought to foreign companies but since it is obvious that soon the U. S. won't be able to redeem them with real secured money, it is going to get harder and harder to make money with the interest. I wrote this out here because I think you are patient enough to read it and tell me if I have the picture correct. Thanks, I hope you have a good weekend.
devastating!
The Fed needs an audit (enema).
Tremendous little vid! I've seen a few of these floating around here on Xanga and enjoy them very much.
It's becoming obvious that our nation's wealth is being ransacked and pillaged and that domestic policy is being specifically designed to cause catastrophic failure. Economic collapse is eminent. I wonder how much time we have?
"The only thing deflating that I can see is the fed's credibility."
"When you call a plumber to fix something that is broken, they generally fix it not break it worse."
I love it... Except for the voice. It reminds me of the NOAA weather service automated radio voice. And it gives me PTSD or something to listen to it. LOL
The worst flaw in the economy is the fact that it's so complex that it takes a team of financial wizards to sort it out. It only is so because of financial products invented to game it.
@jasonwl - the gaming is certainly with intent and preplanned. One has to wonder is it complex or is it a smokesc reen, enabled by a serious lack of curiosity in the market place , investigative journalists (lol) and regulators. If you do not understand what you are regulating it is like a referee who doesn't know how to play football being assigned to the Super Bowl...maybe because he looks good in black and white or is friends with the owners.
@ProvokingThought - Preplanned by whom? I believe anyone gaining massive wealth while their employees and/or customers are falling apart because of any action taken by their company is a valid suspect to investigate for answers. Unless you consider the overpaid exec(s) as scapegoat(s) to misdirect investigations long enough to distort or destroy real evidence.
@jasonwl - the head of the regulatory agencies came from the very interests who they regulate.
The disparity of wage between employees and company owners (these executive are normally very large stock holders-owners) is a not even an issue in this discussion. If people are not paid their true value, why don't they find work where their value is rewarded or invest in and start their own firms? Labor rates are a direct reflection of demand for services vs. the supply of said labor. I will note that many people value their worth much higher than it is in the market place (which is different than their worth as a human being).
The scenario you give is normally one from a public held and traded company which would have oversight from several government agencies. The executives are voted in by the owners of the company. I don't see where I should feel good or bad about either the profit or loss an owner of a company makes from his investment.
If companies pay off regulators who is the evil one-the one who offers the bribe or the one who takes it ? Both? How about regulatory agencies that are staffed by people who regulate the industry they came from and do not really regulate?
Our problem was never lack of regulation, it was one of lack of enforcement or selective enforcement. the core issue? ...government is funding much of this and failing to enforce the laws it passes and peoples response is to pass more regulations.
@jasonwl - I failed to address your initial question: worthless products packaged into complex financial products so as not to be able to be parsed as to their true value is fraud by design...therefore preplanned.
@ProvokingThought - I get what you're saying. But this applies everywhere there's a high markup on a product vs the cost of its creation. The only thing about it that pisses me off is that I can prove that better products than large software corps make are made as community efforts, and nobody will hear of it. Instead they spew nonsense about how said corps contributed to make the world a better place. Nonsense, because their contribution is less than one percent of their revenue; and mostly geared to continue or enhance their own revenue stream. The community devs contribute their entire effort so people can grow from them at as little cost and effort as possible; and still end up with at minimum a comparable product when they don't have to rip something out that's vaguely described by a patent. How do we make the world as free as possible when people continue to support big companies who leach IP from open efforts at the expense of everything but their own profits? A corp (software especially) typically innovates only where it needs to to stay alive and can't buy out someone else to achieve the same thing. Then when it owns the market, sells for many times the cost of creation and uses the patent system to prevent competition by anything similar. Small to medium companies and individuals can't afford to fight patent suits brought against them, even when both sides know the one being sued is right, so they conform or fold. That's what hurts innovation outside market leaders and is the reason the big players don't need to so much.
Solution 1) Fix the patent system.
Solution 2) Dump the patent system
Solution 3) Be willing to learn from people who actually look into why things cost > 100 times what they should or need to. Then boycott those companies who readily rip everyone off while convincing the masses that what they offer is best. In the end this would lead to "Solution 2" as the patent system was obsoleted the moment everyone started self publishing on the internet. Nearly all ideas that would have patentable value, aside from hindering independent similar innovation by others, only those with very deep pockets can afford to experiment with anyway.
Not everyone wants or needs to be megawealthy. People who know better could live well off five hours per week of average wages if people who drive markets only wanted enough for themselves to be healthy; unless tied to someone who refuses.
Comments are closed.