Will We Ever Learn?

[pokerman]

Sorry if this is in the wrong place.......Don't know where to post General thoughts?

If you bother to read it....your thoughts & remedies would be great...

from acorns Oak will grow.

What is wrong with us?

Why do we continue to allow gamblers (STOCKBROKERS & BANKERS) to control the world!!

People who produce nothing apart from greed and more greed!!

Millions of hard working people are in despair and have lost their jobs and homes because of the stupidity of these greedy callous (w)....bankers!!!

SO...as happens with gambling, their winning streak came to an end.....

THEY LOST!! But did they care....NO.....it wasn't their money they were playing with.

Countries went (and are on the brink) of going bankrup....and our leaders, the politicians (good subject for next post) what did they do? Slapped them on the wrist....and threw BILLIONS at them!! DID THEY CHANGE???

HEADLINE......Oil prices collapse on world economic meltdown.

HEADLINE......Signs that fall in economy are slowing

HEADLINE......Markets worried, Oil under $50/ barrel

HEADLINE.....End of recession in sight

HEADLINE.....Global stockmarkets rally adding $10000000000000 in CHIPS!!!

HEADLINE..... Oil tops $78/barrel on recovery hopes

HEADLINE.....Gas prices increase because of Oil price recovery

HEADLINE......Consumers struggling to make ends meet because of increase in gas prices

HEADLINE? In the News? One Line?....Somewhere in the World a child dies every 4 seconds due to the effects of malnutrition.

I in NO way include the ordinary, hard working, men and women that work in the High Street Banks throught-out the world on my attack of the Bankers and Power Brokers.

I still have hope for the human race.....if enough people start to think and act differantly.......HOW... I hear you cry, the begining of the answer is in talking .....and also there are NEW teachers that are out there, we just have have to search.....when the student is ready the teacher will appear.....for the cinics amongst you....it is not me.

For those who want to start, or have questions how...I suggest a good place to begin would be to do a web search for Dr. Deepak Chopra.

Let's save our planet and give our children hope and knowledge.

[JR Texas]

Sorry if this is in the wrong place.......Don't know where to post General thoughts?

If you bother to read it....your thoughts & remedies would be great...

from acorns Oak will grow.

What is wrong with us?

Why do we continue to allow gamblers (STOCKBROKERS & BANKERS) to control the world!!

People who produce nothing apart from greed and more greed!!

Millions of hard working people are in despair and have lost their jobs and homes because of the stupidity of these greedy callous (w)....bankers!!!

SO...as happens with gambling, their winning streak came to an end.....

THEY LOST!! But did they care....NO.....it wasn't their money they were playing with.

Countries went (and are on the brink) of going bankrup....and our leaders, the politicians (good subject for next post) what did they do? Slapped them on the wrist....and threw BILLIONS at them!! DID THEY CHANGE???

HEADLINE......Oil prices collapse on world economic meltdown.

HEADLINE......Signs that fall in economy are slowing

HEADLINE......Markets worried, Oil under $50/ barrel

HEADLINE.....End of recession in sight

HEADLINE.....Global stockmarkets rally adding $10000000000000 in CHIPS!!!

HEADLINE..... Oil tops $78/barrel on recovery hopes

HEADLINE.....Gas prices increase because of Oil price recovery

HEADLINE......Consumers struggling to make ends meet because of increase in gas prices

HEADLINE? In the News? One Line?....Somewhere in the World a child dies every 4 seconds due to the effects of malnutrition.

I in NO way include the ordinary, hard working, men and women that work in the High Street Banks throught-out the world on my attack of the Bankers and Power Brokers.

I still have hope for the human race.....if enough people start to think and act differantly.......HOW... I hear you cry, the begining of the answer is in talking .....and also there are NEW teachers that are out there, we just have have to search.....when the student is ready the teacher will appear.....for the cinics amongst you....it is not me.

For those who want to start, or have questions how...I suggest a good place to begin would be to do a web search for Dr. Deepak Chopra.

Let's save our planet and give our children hope and knowledge.

You are really covering a lot of ground. Let me give you my 2 cents worth.

Over the past 50 years we were warned (by people like Einstein, C. Wright Mills, Eisenhower) that a corporate-political-military triangle of power was forming. Now it that is the worldwide power structure.

This triangle of power, dominated the the ruling elite, controls the mainstream mass media worldwide. Because we are a cultural species, information reaches us via a learning process. Those who control the flow of information control everything. And they do.

They have taught people what they need to know to exploit themselves. A perfect system that keeps the status quo on track and the masses in check......thinking they will get rich some day (rarely happens) and embracing a culture of irresponsibility and mindless consumerism.

The bulk of the global population exists as mere slaves to a highly exploitative system that is causing massive damage to future generations. The ruling elite only want more power........because that leads to more wealth.

They have convinced the bulk of middle class humanity to invest in stocks and bonds, etc. In many cases that money is used to ship jobs overseas.

The irony is obvious: they invest in something that results in their eventual unemployment. And if that company goes bankrupt.......guess who ends up paying for it?

Of course, as with any game some win and some lose. But for many middle-class workers in the developed world, it is a downward spiral......eventually the end result is that the entire labor force worldwide becomes a tool of those that control the strings.

And the high wage factory worker jobs that move from the developed to developing world invariably turn into low wage jobs. Guess who wins? Stockholders and bankers.

There are many solutions to this state of affairs--reverse the globalization of the economy, reverse the centralization of the economy, massive reduction in human population numbers, development and deployment of a totally new and environmentally sound energy system that will free people from the material conditions of life--but not one politician on the planet is pursuing them.

Maybe somebody can shed more light on the subject.

[MKAsok]

^Good post in the main JR, and a refreshing change from the usual howls of derision and the 'what exactly has this got to to with Thailand?' comments that usually follow such a post.

To the OP: I appreciate your overall sentiment, but then you had to go and ruin it with your reference to Deepak Chopra.

[Padrino]

well if the UK cut Scotland loose as they so wish our economic problems would be solved

[Robert44]

well if the UK cut Scotland loose as they so wish our economic problems would be solved

If the UK cut Scotland loose, you would be left with the Welsh and the Irish - good luck with that !!!!

[trd]

Pokerman, how do suppose those millions of hard working people you refer to got their jobs. Someone started a business by investing money they borrowed from one of the banks you so detest and when it was big enough they went public, created yet more jobs and raised capital from the stock market that you also detest and despise. Get real. Business cannot function without banks and the markets. More regulation perhaps, but greed is part of a system that also nourishes hard work, creativity and innovation and it has supplied you with the computer you are reading this on among many other products and services that provide you with the comfortable lifestyle we all take for granted.

[Texpat]

What about saving to buy something rather than borrowing for it?

I've never bought anything I couldn't afford to pay for outright -- including two houses and a dozen or so cars (over many years). And I'm not rich by a long shot.

This whole borrowing culture is doomed and I can only hope it's not fiscally responsible people like me that end up paying for the gluttony of others.

[flying]

This whole borrowing culture is doomed and I can only hope it's not fiscally responsible people like me that end up paying for the gluttony of others.

Sadly we all will

Edited June 15, 2009 by flying

[trd]

What about saving to buy something rather than borrowing for it?

I've never bought anything I couldn't afford to pay for outright -- including two houses and a dozen or so cars (over many years). And I'm not rich by a long shot.

This whole borrowing culture is doomed and I can only hope it's not fiscally responsible people like me that end up paying for the gluttony of others.

How on earth did you arrive at:

Not borrowing = fiscally responsible people like me.

Borrowing is absolutely central to the way our economic system works. Without it we would be living in the stone age. You might want to save for an individual purchase, nothing wrong with that, but that's impossible for businesses. Borrowing is as old as humanity. To borrow and make a profit and then pay back a loan is fundamental to the way we have lived for centuries and there's no way the borrowing culture will is doomed. You have to make a distinction between responsible and irresponsible borrowing.

[flying]

You might want to save for an individual purchase, nothing wrong with that, but that's impossible for businesses.

I know your Q was not directly to me but....

To clarify.....My statement was based on personal frivilous credit spending.

I agree that OPM is needed for most business operations

[Texpat]

People and businesses today are in a constant state of unsustainable debt.

Individuals borrow to pay credit bills, buy houses using interest-only mortgages live beyond their means. Businesses routinely refinance, shuffle obligations, file chapter 11, dodge the taxman -- both are irresponsible. Both have landed the world in the toilet.

[hhgz]

"Pokerman, how do suppose those millions of hard working people you refer to got their jobs."

Exactly. For some reason, several TVers believe that there's an honor in being poor. Except for causing the development of an extensive bureaucracies to care for them, the poor don't create jobs.

[cocopops]

This whole borrowing culture is doomed and I can only hope it's not fiscally responsible people like me that end up paying for the gluttony of others.

Sadly we all will

Nobody is holding a gun to your head. Folks who make intelligent and prudent financial decisions will not end up victims.

Preservation of existing wealth is not a human right. It is a challenge you have the opportunity to take. We should all be worrying more about the steps we take personally and less about figuring out who to blame for our downfall if it doesn't work out.

Edited June 17, 2009 by cocopops

[Texpat]

Like this schmuck?

He actually seems proud to be bilking his bank out of repaying money he borrowed:

"The banks were bailed out last fall, the automobile companies last winter. For Edward McClelland, a writer in Chicago, deliverance finally arrived a few days ago.

Mr. McClelland’s credit card company was calling yet again, wondering when it could expect the next installment on his delinquent account. He proposed paying half of his $5,486 balance and calling the matter even.

It’s a deal, the account representative immediately said, not even bothering to check with a supervisor.

As they confront unprecedented numbers of troubled customers, credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed.

The practice started last fall as the economy worsened. But in recent months, with unemployment topping 9 percent and more people having trouble paying their bills, experts say this approach has risen drastically.

They say many credit card issuers have revised internal guidelines to give front-line employees the power to cut deals with consumers. The workers do not even have to wait for customers to call and ask for a break.

“Now it’s the card company calling you and saying, ‘Let’s talk turkey,’ ” said David Robertson, publisher of the credit industry journal The Nilson Report."

http://www.nytimes.com/2009/06/16/your-mon...6credit.html?em

[Electra]

Presumably, if his creditor knew how to spell instalment they might have expected more of a return?

[cocopops]

Like this schmuck?

He actually seems proud to be bilking his bank out of repaying money he borrowed:

"The banks were bailed out last fall, the automobile companies last winter. For Edward McClelland, a writer in Chicago, deliverance finally arrived a few days ago.

The bank and Mr McClelland have a business arrangement involving unsecured credit. They are terminating this relationship on terms that both parties agree to. This is nobodies business except the banks and Mr McClellands. What else should they do? What else can they do?

Should the contract be ignored or rewritten? Should the bank pursue legal action and lose even more shareholders money just to stick it to Mr McClelland? It's true that may afford a certain class of bore the opportunity to walk around with their nose in the air saying "Ah've never bought anything except for cash" like that makes them some kind of genius. But it's difficult to see any other benefits.