[Toto deVeer]

Some great graphics from William Banzai:

William Banzai7

Not sure that it's fair to label this 'Obamanomics'. Seems to be rife everywhere. Especially the UK.



PS::

You know, I've argued for some time, that a bank is the easiest business in the world to set up.

To set up a factory, or natural resources extraction (you know, the true productive and wealth creating enterprises), you need skills and 2 to 7 years physical infrastructure lead time. But a bank? I think that Firerush says it all. Just take a guy with money, no banking experience, and Voila! You're in business.

That's why I've argued that we should have just let the banks fail, because new, stronger banks could emerge over night.

This post has been edited by Toto deVeer: 19 September 2010 - 12:03 PM

[Toto deVeer]

DrBubb, on 19 September 2010 - 12:47 PM, said:

The US economy will get weaker and weaker, until they CUT PUBLIC SECTOR SPENDING
and focus on growing the private sector

Amen to that. But I think the problem goes much deeper. They need to restructure the entire economy and the legal system. Wealth is created by the middle, not the top or bottom and right now the middle is being gutted.

This post has been edited by Toto deVeer: 19 September 2010 - 01:03 PM

[Executive Sadman]

Toto deVeer, on 19 September 2010 - 11:47 AM, said:

That's why I've argued that we should have just let the banks fail, because new, stronger banks could emerge over night.

Why cant we let the banks fail and let the building societies that dont depend on interbank lending take over the banks saving books and good assets, and sell off the other crap and let the shareholders and bondholders take the hit?

[interestrateripoff]

Toto deVeer, on 19 September 2010 - 01:02 PM, said:

Amen to that. But I think the problem goes much deeper. They need to restructure the entire economy and the legal system. Wealth is created by the middle, not the top or bottom and right now the middle is being gutted.

It's hard to see how the US can survive with the corporatists in charge ensuring all laws are for big business.

[oracle]

if only tony knew where his little "firerush" venture was going to end up.

he's backed the wrong horse.

[Toto deVeer]

interestrateripoff, on 19 September 2010 - 03:30 PM, said:

It's hard to see how the US can survive with the corporatists in charge ensuring all laws are for big business.

The only outcome that can benefit the middle class paradoxically is a complete financial collapse.

Only then will enough people be willing to bring out the pitch forks and get the perps.

After that the system can be rebuilt. But there'll be a lot of pain involved.