Tuesday, February 10, 2009

State of the nation

A sorry, sorry state of affairs: how the corporate financial media perceives the world economic meltdown, neatly encapsulated in 10 embarrassing minutes.


archer said...

the most embarrassing part comes right at the end, where it is suggested in all seriousness that nationalization is the solution. unbelievable.

when fools seek wisemen they find conmen

Festoonic said...

My take was that it wasn't Roubini and Taleb who were embarrassing -- they've been right so far about everything, after all, and correctly predicted our current situation years in advance -- but the CNBC shills, who can't conceive of a reality different than the permanent-growth model we've been sold. It's scary to me because it shows how thoroughly unprepared rich nations are to the coming changes.

Anonymous said...

Hiya Festoonic,

I feel a war coming on. The two previous World Wars were preceded by economic disasters, wilfully engineered by those wonderful examples of humanity, the Rothschild banking family.

The long term aim is a global currency that the Rothschilds will control. Just as they control and have long controlled the GBP and USD (at the very least).

You can't blame the politicians or even the money men in the financial centres; they were just following orders. Mind you, they didn't need telling twice to go out and fill their boots!

Now they will be dumping the dollars and stashing the gold. This is insider dealing at it's most extreme.

I am not bothered, I was skint during the 'boom', and will be probably marginally better off during the bust. One thing is for certain, I won't be fighting no Rothschild war. Will you?


archer said...

conspiracy theories are incredible life forms. no matter how silly, and no matter how often shown to be so, they will not die. with vampires, at least if you know secret, you can off them. as of yet no secret has been devised to kill these amusing creatures.

paparazzo said...

Deaf, dumb and blind lambs to the slaughter are extremely plentiful, albeit dull creatures. Unfortunately these misguided souls make up more than 95% of the Western World's population and as Festoonic rightly pointed out, they have absolutely no idea of what they have coming to them.

Consumed by greed, selfishness and lack of foresight, they have brought the current state of affairs upon themselves, albeit prompted by the usurers and their agents.

What can I say, archer old chap, except fasten your seatbelt 'cause we in for a rocky ride! ;)

archer said...

paparazzo, when you're not ascribing the omnipotence of zeus to a single family you make a lot of sense, although i would hate to concede the validity of the percentage you site.

paparazzo said...

OK mate, point conceded about the percentage cited. But even if many were not duped into impossible indebtedness, they still benefited from the false boom.

It was clear to me as early as 2003 that this 'boom' was unsustainable. Now if a layman like myself can see it, why was this insane policy allowed to continue?

Because it was planned to happen by whoever called the shots at the BoE and the Federal Reserve. And who calls the shots? I'll give you a clue, it wasn't Greenspan or King.

Have a gander at this, if you have the time, and see if you still feel the same way afterwards.


And before you start accusing me of anti-semitism, let me assure you that nothing could be further from the truth.

Festoonic said...

Thank you both for playing nice. I'd hate to see the tone of a swell blog like this one sullied by untoward remarks. But the important question to me isn't which impossibly-wealthy people will profit from the current meltdown -- surely some will, just as they always have from every disaster in the past. What's important is, are we prepared? Can we feed ourselves when the supermarkets are empty and get where we need to go when the gasoline dries up? Can we work with and depend on our neighbors? What offended me about the CNBC clip was how determinedly useless the line of questioning was -- like someone trying to sell get-rich-quick schemes on the Titanic.
And that's all I've got to say about that.

paparazzo said...

That's why I avoid the mainstream media Festoonic, because it is utter nonsense.

If you want answers to your questions, there are several on-line articles penned by several of our Argentinian brothers who have been through a similar ordeal in the first half of this decade.

Included are some very useful tips on how to prepare and what to expect, so they are worth searching out.

I no longer have the links, but they should be easy enough to find.

paparazzo said...

OK. I've found one of the articles, it was published on Peak Oil, so maybe you've read it already. I'd saved it as pdf:


Anonymous said...

Thankyou for that paparazzo. Same old story with Argentina, they couldn't repay their debts to the world banks.

The only solution to the entire world economy is to reform the banking system.

Here is an interesting documentary on the history of the banking system and how debt works. You can probably download an avi.