RagAss
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Thu Sep-25-08 08:43 PM
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This was a Pyramid Scheme, right? So.... |
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what's all this "bail out" talk about? When a pyramid scheme ends you just start up another one. They've been doing it for years in the markets all over the world. What makes this one so different?
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whistle
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Thu Sep-25-08 08:47 PM
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1. Yes the whole Alan Greenspan financial derivatives and hedge funds |
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...credit insurance fiasco from late 1987 through when he left as Federal; Reserve Chairman was all an elaborate massive global pyramid scheme that basically needed these two years to unravel.
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RagAss
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Thu Sep-25-08 08:49 PM
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2. .So where's the next one?? |
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It's been scheme after scheme since Reagan. They've been pushing "air" through the banks and markets for almost 30 years. Why is it a crisis now?
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whistle
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Thu Sep-25-08 09:17 PM
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3. Because Bush says it is and Paulson is acting like it is and because IT IS! |
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...The collapse will take down 95% of the retirement plans and 401Ks which Americans both retired and still working have been saving due to investment bank fraud, hedge fund fraud and various stock investments and so forth. Why, because the democrats know that the whole thing is just smoke and mirrors.
America is no longer the production giant it was 10 years ago, 20 years ago or even 35 years ago. What we produce at all are weapons and bombs, the rest we import and that stops the moment we are unable to buy and trade with other countries. Even our home construction industry which were manufactured shit-boxes selling for a half a million dollars can't find domestic buyers who can afford the monthly interest on the mortgage has almost stopped dead.
It is a crisis because Americans can see their single most important investment, their homes, threatened as unsold homes in their neighborhoods get foreclosed and foreign banks take ownership on million dollar homes that deteriorate before their eyes and neighborhood banks start to disappear replaced by 5th/3rd Bank branches and AMSCOT check cashing outlets on every other commercial and neighborhood corner.
Look around and tell me you don't see a crisis
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DU
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Tue May 07th 2024, 03:39 AM
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