Debt.
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 The Sash  Now residing in Epsom - How Posh 23 Dec 15 1.06pm |
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The entire world is in debt to the politics of corporatism. People labour under the illusion that its politicians that shape their lives - they don't. Banks and the financial sector control the actions of politicians and the fallouts from those actions eventually filter down to you and me and the rest of the planet who aren't in the club, A system has been allowed to grow out of pure and simple greed whereby those intuitions and those that lead them, invest in them and benefit from them are iron clad and insulated from the negative consequences and harm from their decisions and actions.
As far as the rules go, it's a website not a democracy - Hambo 3/6/2014 |
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jamiemartin721  Reading 23 Dec 15 2.56pm |
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Quote The Sash at 23 Dec 2015 1.06pm
The entire world is in debt to the politics of corporatism. People labour under the illusion that its politicians that shape their lives - they don't. Banks and the financial sector control the actions of politicians and the fallouts from those actions eventually filter down to you and me and the rest of the planet who aren't in the club, A system has been allowed to grow out of pure and simple greed whereby those intuitions and those that lead them, invest in them and benefit from them are iron clad and insulated from the negative consequences and harm from their decisions and actions.
Very much this. The age of nations, superseded the age of empires, and now the age of corporations have superseded the age of nations. Governments are subordinate to corporate interests and the true power that speaks is money. Governments curtail to powerful corporations because they can provide popularity and power that they cannot, such as providing jobs for the boys and employment for the statistics, and in return governments grant greater freedoms to the corporations (who'll look after their people and their friends with jobs on the board, senior positions from the 'unqualified ranks' and so on). And we pay for it all
"One Nation Under God, has turned into One Nation Under the Influence of One Drug" |
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| Part Time James 23 Dec 15 2.59pm |
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Quote nickgusset at 21 Dec 2015 4.50pm
I read somewhere that the 'total Earth debt' is £233.3 trillion. Why would anyone spend that much on earth anyway? Must have a big allotment.
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Kermit8  Hevon 23 Dec 15 4.26pm |
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I see five of the biggest financial banking institutions in Canary Wharf paid a massive ZERO NOTHING NADA between them in corporation tax this last year. Immoral fvcking fvckers
Big chest and massive boobs |
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| joe_cpfc Basingstoke 23 Dec 15 5.12pm |
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Quote Y Ddraig Goch at 21 Dec 2015 5.04pm
And how did they calculate it? Would some debt not off set other debt? I reckon it's the man in the moon (that's a guess btw)
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| sydtheeagle England 23 Dec 15 9.32pm |
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Quote The Sash at 23 Dec 2015 1.06pm
The entire world is in debt to the politics of corporatism. People labour under the illusion that its politicians that shape their lives - they don't. Banks and the financial sector control the actions of politicians and the fallouts from those actions eventually filter down to you and me and the rest of the planet who aren't in the club, A system has been allowed to grow out of pure and simple greed whereby those intuitions and those that lead them, invest in them and benefit from them are iron clad and insulated from the negative consequences and harm from their decisions and actions. Edited by The Sash (23 Dec 2015 1.12pm) Up to a point only. The bottom line is that politicians are responsible for regulating financial markets and its the failure to properly discharge supervisory responsibilities (for instance, Basel II) that contributed as much to the financial meltdown as anything else. Also, prop trading has proven a far greater evil than the trading of wealthy individuals. Who thought allowing that was a good idea?
Sydenham by birth. Selhurst by the Grace of God. |
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| The Sash Now residing in Epsom - How Posh 24 Dec 15 8.30am |
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Quote sydtheeagle at 23 Dec 2015 9.32pm
Quote The Sash at 23 Dec 2015 1.06pm
The entire world is in debt to the politics of corporatism. People labour under the illusion that its politicians that shape their lives - they don't. Banks and the financial sector control the actions of politicians and the fallouts from those actions eventually filter down to you and me and the rest of the planet who aren't in the club, A system has been allowed to grow out of pure and simple greed whereby those intuitions and those that lead them, invest in them and benefit from them are iron clad and insulated from the negative consequences and harm from their decisions and actions. Edited by The Sash (23 Dec 2015 1.12pm) Up to a point only. The bottom line is that politicians are responsible for regulating financial markets and its the failure to properly discharge supervisory responsibilities (for instance, Basel II) that contributed as much to the financial meltdown as anything else. Also, prop trading has proven a far greater evil than the trading of wealthy individuals. Who thought allowing that was a good idea? Politicians don't make those decisions though Syd. Publicly maybe the face, privately they are bought, lobbied and sold to ensure the financial markets and global corporate interest comes first. Perhaps a little microcosmic modern tale of how this world all works now is the odious s*** Martin Shkreli. He buys rights to an aids / cancer drug and overnight hikes the price by %5000. He gets bit of a rough ride from the mainstream and social media (although I saw plenty 'defending' him and his 'right to do so') - other than that he is left alone, perfectly OK to fleece, exploit and extort his fellow (dying) human beings. Turns out though when Martin was a hedge fund manager he did a couple of 'naughties' that were to the detriment of Wall Street and greedy already rich, want to be richer types...he's arrested, charged and banged up so fast it makes your head spin. Morality comes a very poor second to the laws that have been now spun to protect the global corporate elite...
As far as the rules go, it's a website not a democracy - Hambo 3/6/2014 |
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| chris123 hove actually 24 Dec 15 9.11am |
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You can't have credit without debt - the earliest trading, investment and loans were based on credit, even if the medium was grain.
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| Hoof Hearted 24 Dec 15 11.22am | |
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Holding bank notes is like an IOU. Our bank notes have "I promise to pay the bearer on demand the sum of £....." written on them and a signature by a Bank Of England Governor.
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| The Sash Now residing in Epsom - How Posh 24 Dec 15 11.37am |
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Quote chris123 at 24 Dec 2015 9.11am
You can't have credit without debt - the earliest trading, investment and loans were based on credit, even if the medium was grain.
We wonder why things go wrong financially when you give someone the right to crate money and debt from thin air Edited by The Sash (24 Dec 2015 11.38am)
As far as the rules go, it's a website not a democracy - Hambo 3/6/2014 |
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| sydtheeagle England 24 Dec 15 2.17pm |
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Quote The Sash at 24 Dec 2015 8.30am
Politicians don't make those decisions though Syd. Well, again, yes and no. The Basel Committee and BIS do regulate the financial system and in so far as they represent Central Banks, they are at least to some extent an arm of politics/policy, albeit once removed. Furthermore (example: Basel III vs. Basel II) they do (at least on occasion) limit bank's behaviour, particularly with respect to risk management. The problem is more at a local/national than international level, where the domestic financial services industry is horribly under-/mis-regulated for the reasons you give. It's just not a one-tiered answer. Quote The Sash at 24 Dec 2015 8.30am
Publicly maybe the face, privately they are bought, lobbied and sold to ensure the financial markets and global corporate interest comes first. Broadly, I agree. Again, the failure is one of regulation. It's not that politicians couldn't make the necessary decisions; it's that they refuse to. But the answer there is campaign finance reform; as long as corporates are allowed to fund political parties, the outcome will remain fairly predictable. Quote The Sash at 24 Dec 2015 8.30am
Perhaps a little microcosmic modern tale of how this world all works now is the odious s*** Martin Shkreli. He buys rights to an aids / cancer drug and overnight hikes the price by %5000. He gets bit of a rough ride from the mainstream and social media (although I saw plenty 'defending' him and his 'right to do so') - other than that he is left alone, perfectly OK to fleece, exploit and extort his fellow (dying) human beings. I think we all know this story. However, given that he's been arrested this week (as you note), (http://www.theguardian.com/business/2015/dec/21/martin-shkreli-turing-pharmaceuticals-arrest-real-injustice-blames-aids-drug-price-hike) he's enduring rather more than just a rough ride from the media. So it somewhat contradicts your point. Shkrell is absolutely vile and I doubt anyone with an ounce of humanity defended him. Furthermore, sic, the authorities are trying to prosecute him. Quote The Sash at 24 Dec 2015 8.30am
Morality comes a very poor second to the laws that have been now spun to protect the global corporate elite... Edited by The Sash (24 Dec 2015 9.21am) ...and there you have conservative economics. If you make the richest richer, somehow all of us will benefit. Shkrell is Thatcherite Man incarnated.
Sydenham by birth. Selhurst by the Grace of God. |
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