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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Only Larry Summers can save the world from Larry Summers is not a particularly compelling argument"
Not Given By Nature
Krgthulu:
And, amazingly, it generally makes out quite well every time. Aim the free money spigot at us or the world gets. If this is the system, the system is flawed. We don't need better firefighters, we need a better system. Only Larry Summers can save the world from Larry Summers is not a particularly compelling argument.
http://www.eschatonblog.com/2013/08/not-given-by-nature.html
Krgthulu:
O.K., the other obvious culprit is financial deregulation not just in the United States but around the world, and including the removal of most controls on the international movement of capital. Banks gone wild were at the heart of the commercial real estate bubble of the 1980s and the housing bubble that burst in 2007. Cross-border flows of hot money were at the heart of the Asian crisis of 1997-98 and the crisis now erupting in emerging markets and were central to the ongoing crisis in Europe, too.
In short, the main lesson of this age of bubbles a lesson that India, Brazil, and others are learning once again is that when the financial industry is set loose to do its thing, it lurches from crisis to crisis.
And, amazingly, it generally makes out quite well every time. Aim the free money spigot at us or the world gets. If this is the system, the system is flawed. We don't need better firefighters, we need a better system. Only Larry Summers can save the world from Larry Summers is not a particularly compelling argument.
http://www.eschatonblog.com/2013/08/not-given-by-nature.html
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"Only Larry Summers can save the world from Larry Summers is not a particularly compelling argument" (Original Post)
phantom power
Aug 2013
OP
Octafish
(55,745 posts)1. Guy helped bring $16 trillion to the people who disappeared $16 trillion.
Best way to rob a bank is to own one. The FED is the biggest of all.
Hydra
(14,459 posts)2. One of the biggest and most blatant robberies in history
And they're setting up to do it again.
Rex
(65,616 posts)3. They loved TARP so much that they want a TARP II and TARP III.
nt.