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nmarks

Asia Times : Economic Stupidity Is No Solution

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Good article and as is this one on the same page, the richest BTler in Uk was also caught out on this one

The spectacular and bizarre release of secret FBI wiretap data to the New York Times exposing the tryst of New York State governor Eliot Spitzer, the now-infamous client "No 9", with an upmarket call-girl had relatively little to do with the George W Bush administration’s pursuit of high moral standards for public servants. Spitzer was likely the target of a White House and Wall Street dirty tricks operation to silence one of the most dangerous and vocal critics of their handling of the current financial market crisis.

http://www.atimes.com/atimes/Global_Economy/JC20Dj04.html

Edited by Bardon

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Good article and as is this one on the same page, the richest BTler in Uk was also caught out on this one

The spectacular and bizarre release of secret FBI wiretap data to the New York Times exposing the tryst of New York State governor Eliot Spitzer, the now-infamous client "No 9", with an upmarket call-girl had relatively little to do with the George W Bush administration’s pursuit of high moral standards for public servants. Spitzer was likely the target of a White House and Wall Street dirty tricks operation to silence one of the most dangerous and vocal critics of their handling of the current financial market crisis.

http://www.atimes.com/atimes/Global_Economy/JC20Dj04.html

Its a real shame Spitzer had a "moment of madness" as it seems he was really on to something.

Maybe he can still play a role in exposing what's been happening.

Edited by nmarks

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I totally get where this guy is coming from, however Shwartz and Friedman found that last time, in the 30's the lack of a mass taxpayer buyout was the main reason why the depression was so 'Great'. So this time we are going to foot the bill: but nobody knows if they are right or not, there isn't any supporting evidence other than the decline in America slowed a bit when one of the governers of the fed started buying up bad debt for a bit (he died shortly aftr of TB and this stopped), I think.

If there is a trained economist reading this thread can you fill us in on the academic thinking here? Have there been instances where this approach has solved similar (although obviously smaller) problems? What is the best case result of this bailout, what are we left with afterwards?

Frankly, my intuition suggests this guy has called it bang on and the losses are real and can't just be bought off and we are all screwed about as hard either way.

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  • 298 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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