Wednesday, February 4, 2009

In just 12 months, they have posted losses exceeding the profits they made in the last 25 years.

Putin Speaks at Davos

The time for enlightenment has come. We must calmly, and without gloating, assess the root causes of this situation and try to peek into the future. In our opinion, the crisis was brought about by a combination of several factors. The existing financial system has failed. Substandard regulation has contributed to the crisis, failing to duly heed tremendous risks. Add to this colossal disproportions that have accumulated over the last few years. This primarily concerns disproportions between the scale of financial operations and the fundamental value of assets, as well as those between the increased burden on international loans and the sources of their collateral.

Posted by troy @ 05:30 AM (1001 views)
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23 thoughts on “In just 12 months, they have posted losses exceeding the profits they made in the last 25 years.

  • A valuable post about world economics.

    I believe Putin wants a genuine way forward.

    He notes the problems of the past, but doesn’t dwell on them. He doesn’t want populism or a lots of military spending which could destabilise. But he is looking to changing the existing paradigm.

    He appears to tread carefully….so far, so good.

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  • The problem is : We have an intelligent man speaking to a bunch of comparative idiots who willingly divert attention to ‘reality’ worship whilst filling their pockets with more money than the world can produce by generating leverage.

    Since when did reality mean fantasy? A simple question illustrating diversion and delusion in twisted politics.

    Hopefully this man will not stand alone as a world leader. He is both a man and a leader — a very lonely position to be in at this point in time.

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  • Scary stuff from a scary man. I’m sure we can trust the Russians to find an amicable solution to the world’s problems. They have a good track record of international cooperation don’t they.

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  • So, in other words, all of the profits in the last 25 years were fictitious.

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  • rotten tomato says:

    @ Cyrill

    Actually they do. And I’m experiencing my experience from my life in Africa background. While the Russians did support various dictators in Africa, they did (like the Chinese today) also foster technological and aterial physical good exchanges. Of course it all went pear shaped, because communism does not work, as we all know, and also the Africans were unable/not ready to maximize the good potentials in their newly independent countries, and also more prone to tribal infighting.

    Now let me take a look at what the West ever did for Africa. Well, Britain planted a knife in the back of all her old colonies as soon as WWII was over, sh*fting your own kith and kin. Then both Britain and other Western countries played on the tribal rivalries in Africa to appropriate mineral rights for various multinational companies (I should know a little, for in my insignificant role in the UN in Mozambique, all we did was fly over pipelines to make sure nobody blew them up, and in my office I had a nice map which showed very nicely which multinationals owned what piece of the country).
    So, apart from boasting about “democracy”, and funding the charity industries with a paltry millions, industries whose goal is anything but for poverty to be eradicated, as then their finance would dry up. Well apart from all that, it seems to me that the only people who actually did anything worthwhile for the continent were either the Russians, or the original colonists who HAD to make a success of things because they planned on living there and handing over something to their children. So my approval goes to the original Italian, French, British colonists who over time became autoctonous people there and made up the Rhodesians, Mozambicans and South Africans. It is they, together with the local black population who built anything resembling success there. Not some British/European NGO mouthing off meaningless words in Times’ Sq. and getting media attention.

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  • rotten tomato says:

    …”And I’m experiencing my experience”… my God, my English is going down the toilet!

    I meant to say “And my experience from…”

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  • …………..and to add to rotten tomato………. If anything is ‘scary’? — it’s the situation we are now in.

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  • Putin like all politians is only worried because he’s losing popularity, once he regains it he can go back to screwing Europe for energy supplies.

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  • @plato
    “He is both a man and a leader — a very lonely position to be in at this point in time.”

    He’s a classic psychopath.

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  • phdinbubbles ~~~ would like to be the first to describe a classic psychopath?

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  • Although the definition of a psychopath is considered controversial amongst the psychiatric profession and not listed in the DSM or ICD classifications at present (it’s core traits now being been divided amongst narcissistic and antisocial personality disorders), the most widely recognized classification is Robert Hare’s inventory:

    Factor1: Aggressive narcissism

    Glibness/superficial charm
    Grandiose sense of self-worth
    Pathological lying
    Cunning/manipulative
    Lack of remorse or guilt
    Shallow
    Callous/lack of empathy
    Failure to accept responsibility for own actions
    Promiscuous sexual behavior

    Factor2: Socially deviant lifestyle

    Need for stimulation/proneness to boredom
    Parasitic lifestyle
    Poor behavioral control
    Lack of realistic, long-term goals
    Impulsivity
    Irresponsibility
    Juvenile delinquency
    Early behavior problems
    Revocation of conditional release
    Traits not correlated with either factor

    Many short-term marital relationships
    Criminal versatility

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  • thanks little prof, I knew you could do it.

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  • 11. phdinbubbles said…”Need for stimulation/proneness to boredom. Poor behavioral control. Impulsivity”

    Hmmmm ……… Should I be worried about Mrs Doff?
    LOL

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  • @p. doff
    “Hmmmm ……… Should I be worried about Mrs Doff? ”

    Admittedly simply listing Hare’s PCL-R test probably doesn’t do justice to the formal definitions of psychopathy/sociopathy devised over the years.

    My own definition would be someone that has the pathological inability to feel remorse for their actions and to empathise with others – being unburdened by conscience they just do whatever the hell they like and don’t give a toss. Obviously there are a lot of people who are b*stards who come close to the definition but the point with personality disorders is that such people are completely incapable of behaving in any other way. The formal definitions of such personality disorders (antisocial/narcissistic/hare psychopath) are usually quoted as translating to around 1% of any population, so that’s around half a million psychos in this country of the definition is to be believed. So maybe Mrs Doff is a psycho!

    Anyway, I’ll have to watch for people slipping some polonium in my tea now.

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  • 12. troy said…thanks little prof, I knew you could do it.

    Time to come clean – I’m malct.

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  • phd……….

    Can’t agree that’s a fair description of Putin. I believe ‘man and leader’ is.
    More like put-down using derogatory remarks. Hopefully he or his staff will be reading this site as we hope our politcans do. That should help international relations.

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  • @plato
    “Hopefully he or his staff will be reading this site”

    ROTFL – Mrs Putin, look what phdinbubbles has written about me !

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  • 17. phdinbubbles said…”ROTFL – Mrs Putin, look what phdinbubbles has written about me !”

    Sorry! Unintelligible? Genuinely don’t understand.

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  • @plato
    “Sorry! Unintelligible? Genuinely don’t understand.”

    Apologies – I find the idea of Putin reading this site and being offended by my description of him to be quite amusing.

    I would like to stay and discuss some personality traits related to psychopathy such as: grandiosity, being less able to process or use the deeper semantic meanings of language, manipulating others emotions as a form of gratification, but I’ve got to go and do some shopping otherwise fianceebubbles won’t be happy.

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  • Scored 13……… Not bad!

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  • Sylvia: How can we distinguish between psychopaths and healthy people? Can you give us the portrait of a true psychopath? Which of their faculties have problems?

    Laura: The simplest, clearest and truest portrait of the psychopath is given in the titles of three seminal works on the subject: Without Conscience by Robert Hare, The Mask of Sanity by Hervey Cleckley, and Snakes in Suits by Hare and Paul Babiak. A psychopath is exactly that: conscienceless. The most important thing to remember is that this is hidden from view behind a mask of normality that is often so convincing that even experts are deceived and, as a result, they become the Snakes in Suits that control our world. That’s the short answer.

    Henry: Popular culture sees psychopaths as characters such as Hannibal Lector from Silence of the Lambs, that is, as serial killers. However, while a certain number of psychopaths are criminals and have had run-ins with the law and some are, in fact, serial killers, there are a great number of them that never fall afoul of the law. These are the smarter ones, and they are the ones that are the most dangerous because they have found ways of working the system to their advantage.

    There are a number of traits that we find in psychopaths: An obvious trait is the complete lack of conscience. They lack any sense of remorse or empathy with others. They can be extremely charming and are experts at using talk to charm and hypnotize their prey. They are also irresponsible. Nothing is ever their fault; someone else or the world at large is always to blame for all of their ‘problems’ or their mistakes. Martha Stout, in her book The Sociopath Next Door, identifies what she calls the pity ploy. Psychopaths use pity to manipulate. They convince you to give them one more chance, and to not tell anyone about what they have done. So another trait – and a very important one – is their ability to control the flow of information.

    http://laura-knight-jadczyk.blogspot.com/2008/02/trick-of-psychopaths-trade-make-us.html

    One of the consequences of the ambiguity inherent in DSM-IV ASPD/ psychopathy criteria is that it leaves the door open for court cases wherein one clinician can say that the defendant meets the DSM-IV definition of ASPD, and another clinician can say he does not, and both can be right! The first clinician can use the formal diagnostic criteria exclusively while the second clinician can say “yes, the defendant may meet the formal criteria, but he or she does not have the personality traits described in the “Associated Features” section of the DSM-IV text”. In other words, a good psychopath with a good lawyer can commit any crime and get away with it. This failure of the DSM-IV to differentiate between psychopathy and ASPD can (and undoubtedly will) have very serious consequences for society.

    It is also worth bearing in mind that we have the word ‘hamartiology’ –- ‘the part of theology dealing with the doctrine of sin’ [Webster’s III] (from the Greek hamartia, failure), which gives theologians some elbow room.

    http://laura-knight-jadczyk.blogspot.com/

    I’ve been thinking about the “continuous vs categorical” debate in relation to psychopathy. I just started reading a book called “Thinking about Psychopaths and Psychopathy” edited by Ellsworth Lapham Fersch. It’s a collection of questions and answers from seminars he’s given on psychopathy,
    http://ponerology.blogspot.com/

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  • I wonder if Fersch really “gets it”

    laura

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  • I think a few relaxing hours spent in your allotment would work wonders.

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