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Ologhai Jones

Tv Programme: The Flaw

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Channel 4 website: The Flaw.

The underlying causes of the global financial crisis--in unprecedented depth, allegedly.

In October 2008, Alan Greenspan, the Chairman of the US Federal Reserve, admitted to Congress that he'd found a flaw in his economic model of how the world works.

He'd placed too much faith in the self-correcting power of free markets. In a system based on the unsustainable lending necessary to fuel continued spending, the world found to its cost what happens when that credit bubble bursts.

Drawing on interviews with leading world economists, The Flaw attempts to explain - in unprecedented depth - the underlying causes of the global financial crisis.

Unless the root causes of the problem are addressed, the system may collapse again, and next time it may not be possible for governments to rescue it.

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It's more like 'The Flaws'.

Looking at this photo is quicker than watching the program.

There it is folks, your kid's futures compromised for the vanity of two men. I wonder if the one on the right knew when this was taken he would be sulking in Kirkaldy by now, frantically ignored by his own beloved party?

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I don't think telly should be left to telly people any more. You will learn nothing from this show, and it will be a masterpiece in distraction. Get your news from blogs and forums, though bloggers get bought, and really want to be MSM journo's. Turned off two programmes last night, that Greek nonsense and Panarama's "energy expose." Tune out, switch off, go out! laugh.gif

Edited by John Steed

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It's more like 'The Flaws'.

Looking at this photo is quicker than watching the program.

There it is folks, your kid's futures compromised for the vanity of two men. I wonder if the one on the right knew when this was taken he would be sulking in Kirkaldy by now, frantically ignored by his own beloved party?

Why are they dressed like clowns? Oh, I get it :-)

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I don't think telly should be left to telly people any more. You will learn nothing from this show, and it will be a masterpiece in distraction. Get your news from blogs and forums, though bloggers get bought, and really want to be MSM journo's. Turned off two programmes last night, that Greek nonsense and Panarama's "energy expose." Tune out, switch off, go out! laugh.gif

+1

There again, one of these days one of these programs might, just possibly, at least consider for a fraction of a nanosecond that at least some of these crooks might just possibly have known full well what they were doing

The tragic schoolboy error excuse does start to wear thin after at a while

edit: and PS there was no 'flaw', Greenspan and his peers got richer and will stay richer, people who didn't come from Greenspan's class didn't. Where's the 'flaw'?

Edited by Charlton Peston

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In October 2008, Alan Greenspan, the Chairman of the US Federal Reserve, admitted to Congress that he'd found a flaw in his economic model of how the world works.

Did he look down?

Wile-E-Coyote460.jpg

He'd placed too much faith in the self-correcting power of free markets.

Would those be the same free markets that he helped centrally plan via setting interest rates etc.?

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The real 'flaw' in the system is the widely promoted belief fairy tale that financial oligarchs feel any kind of duty of care to the rest of us

Why would they adhere to a concept which was so counter to their self-interest?

Edited by Charlton Peston

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The real 'flaw' in the system is the widely promoted belief fairy tale that financial oligarchs feel any kind of duty of care to the rest of us

Why would they adhere to a concept which was so counter to their self-interest?

Thats not a systemic flaw that creates this inevitability, its may be a belief flaw, the systemic flaw is the force used that doesnt allow non believers not to participate. The flaw is as ever, central planning, price fixing via taxation distortions (ie more central planning) regulations enforcing further price distortions (most notably regulating away risk from the risktakers deposit insurance / lim liability etc, ie more central planning. The flaw is fundamentally force via central planning. Clearly chuff all to do with free markets but stating that nonsense absolves the central planners of blame so they can carry on enforcing the same fundamental flaw - force

Edited by Tamara De Lempicka

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Thats not a systemic flaw that creates this inevitability, its may be a belief flaw, the systemic flaw is the force used that doesnt allow non believers not to participate. The flaw is as ever, central planning, price fixing via taxation distortions (ie more central planning) regulations enforcing further price distortions (more central planning). The flaw is fundamentally force via central planning. Clearly chuff all to do with free markets but stating that nonsense absolves the central planners of blame so they can carry on enforcing the same fundamental flaw - force

If you're going to believe that people who have every reason to rip you off are not going to rip you off (and lie about it) if you surrender power to them, then you're going to be lumbered with an exploitive system

but your point is taken

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...there again I suppose someone could persist in believing that all these characters who are ripping them off have their best interests at heart but are stupid and/or insane

even though these 'fools' get progressively richer and more powerful each time they 'foul up'

If if I were one of those 'stupid or insane' plutocrats I'd probably find the whole thing quite amusing

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"It started with Thatcher and Reagan.........."

Professor Shiller

I've listened to a couple of Professor Robert Shiller's lectures. He is one of the very few academics / economists that predicted the housing crash and is suprisingly magnanimous given that his research findings were ridiculed by many before the crash. I'm suprised that he isn't mentioned more often on this forum given that his research supports the view of many people on here with regard to property prices.

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Thats not a systemic flaw that creates this inevitability, its may be a belief flaw, the systemic flaw is the force used that doesnt allow non believers not to participate. The flaw is as ever, central planning, price fixing via taxation distortions (ie more central planning) regulations enforcing further price distortions (most notably regulating away risk from the risktakers deposit insurance / lim liability etc, ie more central planning. The flaw is fundamentally force via central planning. Clearly chuff all to do with free markets but stating that nonsense absolves the central planners of blame so they can carry on enforcing the same fundamental flaw - force

I knew there was a use for this song:

http://www.youtube.com/watch?v=-VIqA3i2zQw

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I've recorded it, but not seen it yet--was it worth watching?

OK but very basic stuff. Nothing about National debt. Made some good points about wages falling, and wage inequality fueling the bubble.

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OK but very basic stuff. Nothing about National debt. Made some good points about wages falling, and wage inequality fueling the bubble.

That's about the sum of it

I caught the 2nd half and, though I'm not being all misty eyed about what unions became, one thought did cross my mind when watching the stuff about income inequality

Not that I have any graphs to hand but the historical acceleration in income inequality does seems to coincide with, along with other things, the demise of organised labour

A system based on organised capital battling organised labour isn't my personal ideal but it does have plus points compared to organised capital pitted against disorganised labour

Viewed in isolation it was a basic film. If it were down to a choice between watching that or the X-Factor it was a work of sublime genius. Which is presumably why it was stuck on More 4 late at night

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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