my grandfather called this in 1972. He told me that a financial system based on government intervention can only fail. He also said that it will take a long time in a nation with the total production of the USA but it will happen. But that is the other side of the coin, is it not? Now we have both legalized theft of taxpayer incomes, but fewer taxpayers because we also no longer have the production side. What cannot be sustained will not be sustained and at some point, all debts come due. But hey, at least we can take comfort in the fact that we voted for this.
Banking Joke I came up with 30 years ago (I am retired Financial Systems Guy) "In the old days, Bankers took deposits at 5.25% (regulated) put 3% margin on top, and were golfing by 3:00 pm, and kept risk on their own books In 1988, engineers started joining Wall Street instead of building useful stuff. They were using my company's MPP (Massively Parallel Processing) computer So the Bankers and Engineers started working late and dreaming up all these mathematical formulas (e.g. Derivatives) to Reduce Risk and max profits We got LTCM and 2008 GFC. The Bankers should have stayed on the Golf Course And the Engineers should just kept on building useful stuff.
You nailed it. Until we do another 2008 style reset of prices, this will just stew. Bank over leverage and participation in the market will never lead to a stable banking system. Selling all their real estate loans to Government entities is another thing that must go away. The same nonsense of guaranteeing Student loans just raised prices and incentivized Useless degree majors.
Boohoo coup - my wife and I are fortunate. Both of us in our 80’s, we’ve got a nest egg that should last us till ‘check out time.’ Our prayers are for the unsaved($). They will be the first over the cliff. The current propaganda being peddled is not helping to educate the next wave of paupers. Just this morning two financial wizards while arranging the deck chairs on the Good Ship Lollipop commented on the possibility of a recession. One said, 20% chance in the next 12 months and the other said we’re on the right path to ‘soft landing’). Things will be fine! I think both are and will continue to drink the KoolAid of the Month Club!
The 2008 FC created BTC which is now added to the sovereignty of gold. In the future people will wonder why there was a century of fiat paper. An open market disciplines everybody.
he is doing it again if u pay attention. the history lesson started with the fed but the boomers ran wild with debt spending dooming their children to debt slavery where we are now.
![fellow fellow - พรุ่งนี้ไม่มีใครรู้ feat. INK WARUNTORN [OFFICIAL MV]](http://i.ytimg.com/vi/QP6JyjYx_W0/mqdefault.jpg)
it started with the creature from Jekyll island
Yep.
Keep telling the truth it’s legalized crime.
TELLING the truth is a crime!
It' not "We the people" any more. It's "We the slaves."
my grandfather called this in 1972. He told me that a financial system based on government intervention can only fail. He also said that it will take a long time in a nation with the total production of the USA but it will happen.
But that is the other side of the coin, is it not? Now we have both legalized theft of taxpayer incomes, but fewer taxpayers because we also no longer have the production side.
What cannot be sustained will not be sustained and at some point, all debts come due. But hey, at least we can take comfort in the fact that we voted for this.
We didn't vote for it. The election was a rigged fraud!
Banking Joke I came up with 30 years ago (I am retired Financial Systems Guy)
"In the old days, Bankers took deposits at 5.25% (regulated) put 3% margin on top, and were golfing by 3:00 pm, and kept risk on their own books
In 1988, engineers started joining Wall Street instead of building useful stuff.
They were using my company's MPP (Massively Parallel Processing) computer
So the Bankers and Engineers started working late and dreaming up all these mathematical formulas (e.g. Derivatives) to Reduce Risk and max profits
We got LTCM and 2008 GFC.
The Bankers should have stayed on the Golf Course
And the Engineers should just kept on building useful stuff.
yes, a marriage made in Hell!!!
Or military trials for #Treason
Hello from the People's Democratic Republic of Crook County, Illinois.
Great reason to fire the FED!
There is nothing any of us can do about it either
You nailed it. Until we do another 2008 style reset of prices, this will just stew. Bank over leverage and participation in the market will never lead to a stable banking system. Selling all their real estate loans to Government entities is another thing that must go away. The same nonsense of guaranteeing Student loans just raised prices and incentivized Useless degree majors.
Well said.
Oregon will be voting on UBI, measure 118, forcing businesses grossing 25M or more to pay a 3% tax, no joke! A reverse Cantillon effect? 😅😅
Time to leave OR.
Sooner then later, the wolves will come looking for their money.
All true yet Peter thinks we can vote this out. You'd need a functioning democracy for that which we ain't.
Boohoo coup - my wife and I are fortunate. Both of us in our 80’s, we’ve got a nest egg that should last us till ‘check out time.’ Our prayers are for the unsaved($). They will be the first over the cliff. The current propaganda being peddled is not helping to educate the next wave of paupers. Just this morning two financial wizards while arranging the deck chairs on the Good Ship Lollipop commented on the possibility of a recession. One said, 20% chance in the next 12 months and the other said we’re on the right path to ‘soft landing’). Things will be fine! I think both are and will continue to drink the KoolAid of the Month Club!
I like Ag and Au, don't forget the Pb.
I wanna be in that club!!! Pls, pls, pls :)
- Oh well, bummer :(
It's a big club, and you ain't in it.. George Carlin 😅😅😅
Good one! 👍🏼👍🏼
Thank you
The banks are actually going to fail, so if I were you guys i'd be preparing yesterday. The next decade is going to be very rough.
The Protocols of the Learned Elders of Zion. It's well on its way.
Thanks for the Nazi perspective.
The 2008 FC created BTC which is now added to the sovereignty of gold. In the future people will wonder why there was a century of fiat paper. An open market disciplines everybody.
this is the first comment
This is the first reply to the first comment.
@@brotherofiam YEAH BABY !
Wait!
Didn't this guy just get through explaining to us how it is boomers who are the problem?
he is doing it again if u pay attention. the history lesson started with the fed but the boomers ran wild with debt spending dooming their children to debt slavery where we are now.
Yes he did.
Yes, maybe you should listen better
Bitcoin fixes this