Financial Crisis

[UphillStruggle]

and here is more .....this is like watching a documentary on

" The Mob "

If bankers weren't "The Mob" wouldn't some of them be taken out by The Mob?

Think how money derived from such as drugs and prostitution has been devalued and with so many Americans on food stamps that cannot be good for business.

Vito always wanted Michael to go "legit", the next generation pulled it off realising where the real money was.

[BlackJack]

all these rubbery figures and suckers believe them

source = me

[midas]

Ad this is just the start of things to come.....

Greeks take a stand against unpopular property tax

http://www.bbc.co.uk/news/world-europe-16284970

[midas]

China's Real Estate Bubble May Have Just Popped

" Everyone from local landowners to Chinese speculators and international investors are now worrying that these discounts indicate that "the biggest bubble of the century," as it was called earlier this year, has just popped, with serious consequences not only for one of the world's most promising economies -- but internationally as well"

http://www.foreignaffairs.com/articles/136963/patrick-chovanec/chinas-real-estate-bubble-may-have-just-popped

[12DrinkMore]

Seems MF Global has found $700M???

http://money.cnn.com...x.htm?iid=HP_LN

I would like to know who was on the other side of the transaction. Like, why aren't they shouting

Ha! ha! ha! I just made 1,000,000,000 out of MF Global!

[midas]

It's not only financial fraud that is happening now

" Beijing (AsiaNews/Agencies) – China is accused of making rice with “plastic”. The country has a long poor food safety record, including poisoning and death.

A Chinese Restaurant Association official said that eating three bowls of this fake rice would be like eating one plastic bag. An investigation is apparently underway into the affair."

http://www.asianews.it/news-en/Plastic-rice-made-in-Taiyuan-20751.html

[lannarebirth]

It's not only financial fraud that is happening now

" Beijing (AsiaNews/Agencies) – China is accused of making rice with “plastic”. The country has a long poor food safety record, including poisoning and death.

A Chinese Restaurant Association official said that eating three bowls of this fake rice would be like eating one plastic bag. An investigation is apparently underway into the affair."

http://www.asianews....yuan-20751.html

It is hard for me to believe that a chinaman could not differentiate between rice and plastic. That said, I will never knowingly purchase any imported foodstuffs that I believe originated in China. I will always choose food from another source country.

[mccw]

I saw a Thai tv report last year about the Chinese producing "fake eggs"

To make a convincing synthetic fake egg to cook look and taste like a real one (but with no nutrition just plenty chemicals) at a less price than something that pops out of a chicken I found truly amazing.

Imagine if they started to put some of this creativity in to producing some real round breaking technology instead of just how to make a cheap buck faking everything

[midas]

I saw a Thai tv report last year about the Chinese producing "fake eggs"

To make a convincing synthetic fake egg to cook look and taste like a real one (but with no nutrition just plenty chemicals) at a less price than something that pops out of a chicken I found truly amazing.

Imagine if they started to put some of this creativity in to producing some real round breaking technology instead of just how to make a cheap buck faking everything

does a car called " the Geely Ge " remind you of something?

http://highthrottle.blogspot.com/2009/04/geely-ge-rolls-royce-are-now-made-in.html

Edited December 27, 2011 by midas

[craigt3365]

They do fakes really well:

http://indianapublicmedia.org/eartheats/borax-beef-fake-eggs-reused-buns-food-woes-continue-china/

This list of deliberate food contaminations in China reported by the New York Times sounds too extreme to be true:

• Pork was sold as beef after it was soaked in sodium borate. 5 grams of sodium borate can kill a child.
  
• Pork was adulterated with the drug clenbuterol, which can cause heart palpitations.
  
• Rice was contaminated with cadmium, a heavy metal discharged by smelters.
  
• Soy sauce was laced with arsenic.
  
• Popcorn and mushrooms were treated with fluorescent bleach.
  
• Bean sprouts were tainted with an animal antibiotic.
  
• Wine was diluted with sugared water and chemicals.
  

These grievances all happened over the last few weeks.

And let's not forget the toothpaste a few years ago.

[craigt3365]

This one's really good:

http://en.wikipedia.org/wiki/Food_safety_incidents_in_the_People's_Republic_of_China

Sewage used in tofu manufacturing

Close to a hundred manufacturers of stinky tofu in Guangdong province were found to use a combination of sewage, slop, and Iron(II) sulfateto accelerate production and improve appearance of their fermented product.^[31]

[midas]

This one's really good:

http://en.wikipedia.org/wiki/Food_safety_incidents_in_the_People's_Republic_of_China

Sewage used in tofu manufacturing

Close to a hundred manufacturers of stinky tofu in Guangdong province were found to use a combination of sewage, slop, and Iron(II) sulfateto accelerate production and improve appearance of their fermented product.^[31]

OMG ! yes I think that deserves first place

[chiang mai]

This one's really good:

http://en.wikipedia.org/wiki/Food_safety_incidents_in_the_People's_Republic_of_China

Sewage used in tofu manufacturing

Close to a hundred manufacturers of stinky tofu in Guangdong province were found to use a combination of sewage, slop, and Iron(II) sulfateto accelerate production and improve appearance of their fermented product.^[31]

Yum. Come to think of it, I knew there was a reason why I'm not vegetarian.

[craigt3365]

For the doom and gloom folk:

http://money.cnn.com/galleries/2011/news/1112/gallery.2012-financial-apocalypse/index.html

[Jingthing]

An important article by Paul Krugman about the incorrect emphasis on the U.S. national debt by the right wing political party, and how wrong that tactic is in the face of massive economy driven suffering:

We need more, not less, government spending to get us out of our unemployment trap. And the wrongheaded, ill-informed obsession with debt is standing in the way.

http://www.nytimes.c...&pagewanted=all

Edited January 2, 2012 by Jingthing

[midas]

on the other hand............

Why Government Spending Is Bad For Our Economy

http://www.forbes.com/sites/realspin/2011/10/13/why-government-spending-is-bad-for-our-economy/

[Jingthing]

Cato Institute. What would you expect?

In the years immediately following the Republican Revolution, the Cato Institute was often seen as a standard-bearer of the U.S. conservative political movement

wiki

[midas]

" Investor Kyle Bass discloses his discussion with a senior Obama admin about how this economic crisis is going to play out. The answer is to export our way out of this mess by making our exports cheaper by destroying the dollar in a global game of currency devaluation. This simply means that they are going to print more and more dollars until all of your purchasing power is destroyed and you will need more and more dollars to buy the same amount of goods. (ie. Massive Inflation.) "

http://www.youtube.com/watch?feature=player_embedded&v=OeIFcuVTS3U

[midas]

Cato Institute. What would you expect?

In the years immediately following the Republican Revolution, the Cato Institute was often seen as a standard-bearer of the U.S. conservative political movement

wiki

" So much of left-wing thought is a kind of playing with fire by people who don't even know that fire is hot. "

George Orwell

[midas]

12D this is just for you !

Bankers ready to sue if bonuses too small

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8987836/Bankers-ready-to-sue-if-bonuses-too-small.html

[midas]

well this situation won't be able to go on for long

Payday Loans: One In Seven Brits Using Credit To Pay Mortgage Or Rent

http://www.huffingtonpost.co.uk/2012/01/03/payday-loans-one-in-seven-uses-credit_n_1180839.html?1325656504&ref=uk

[midas]

you can increase YOUR debt limit

[flying]

you can increase YOUR debt limit

Funny & True

[Jingthing]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

[Naam]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

...or bombing Iran back to stone age

[flying]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

...or bombing Iran back to stone age

Well.....Whadda Ya Think He Wants The Debt for?

[Jingthing]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

...or bombing Iran back to stone age

Well.....Whadda Ya Think He Wants The Debt for?

You guys are obsessed. Anyway ...

[lannarebirth]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

Debt's a big issue. I've no problem with some debt forgiveness (so long as it's unsecured), but no one should be looking at the government (and other non indebted taxpayers) for a bailout.

[Jingthing]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

Debt's a big issue. I've no problem with some debt forgiveness (so long as it's unsecured), but no one should be looking at the government (and other non indebted taxpayers) for a bailout.

It's not as big an issue as massive unemployment and losing millions of people from the work force permanently.

[lannarebirth]

There you go again! Right wing irrational obsession with debt during a time when the focus should be on the suffering masses.

Debt's a big issue. I've no problem with some debt forgiveness (so long as it's unsecured), but no one should be looking at the government (and other non indebted taxpayers) for a bailout.

It's not as big an issue as massive unemployment and losing millions of people from the work force permanently.

Actually it is. Your not recognizing that tells me you have no idea of the debt outstanding or ho w EVERY single other debt cycle has been rectified. Add no more debt. Cap any debt going forward. Forgive unsecured debt to a certain extent, and let inflation take care of the rest. Inflation fixes everything for the indebted class/governments. Not to good for us savers though.