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Meltdown - The Conclusion: "After The Fall"

Tyler Durden's picture




 

Previously, we brought you parts one, two and three of the Canadian must see documentary "Meltdown." In this final episode "After the Fall", we hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism. As one world leader handles the crisis through denial, other leaders try to re-think capitalism. Even though the causes of the 2008 meltdown are now clear, there is no magic formula to stop it from happening again. The world has to start planning for the next crisis, even as we recognise that this one is not over yet.

Courtesy of Al Jazeera

 

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Sun, 10/02/2011 - 18:09 | 1731513 Captain Benny
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Al Jazeera rocks ("courtesy of...").  Can't wait for them to cover the American Fall like they covered Arab Spring.

Sun, 10/02/2011 - 18:43 | 1731590 mtomato2
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Nobody who uses Maxine Waters to support their argument "Rocks."

Everything else in these documentaries may be true.  But the one-sided presentation from the beginning spoils the whole 'bunch apples.

Sun, 10/02/2011 - 18:57 | 1731624 Captain Benny
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I said Al Jazeera.  I don't give a hoot about Maxine Waters or one or two journalists supporting their arguments with her.  The network itself provides a more accurate (yes, still biased!) view of whats going on than the major American media outlets.  RT and Al Jazeera are about as good as you can get without being on the scene.

Sun, 10/02/2011 - 21:31 | 1731978 dlmaniac
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It's funny that Christine "monetary policy should remain highly accommodative" Lagarde is constantly portrayed as a positive source of judgement in the video. Was this series made by IMF? It definitely has a tone of more big government regulation throughout the video.

Sun, 10/02/2011 - 23:26 | 1732191 baten
baten's picture

Exactly! this whole bullshit series puts the blame on "capitalism" and sees as the solution "more state intervention".

Not worth your time. 

Mon, 10/03/2011 - 00:00 | 1732252 DaBernank
DaBernank's picture

Whenever idiot lefty statists say "capitalism" I inform them what they mean is "crony capitalism" which is what they will get more of with greater state intervention.

Mon, 10/03/2011 - 05:55 | 1732449 Harlequin001
Harlequin001's picture

The whole thing smacks of apologist bankers. The reason the system is failing is a matter of solvency, that's simple mathematics, pure and simple. You cannot borrow profits to add to your capital.

That's not what this video says. Personally I find it simple and propagandist. Do I really need point out that a simple gold standard would see a swift end to these huge pools of cash sloshing about from one asset class to another, would see an end to the bailouts and the behavior that caused this? We need none of this regulation or these 'more-than-my-jobs-worth's' that go with it.

I'm stunned that the makers of this film, who incidentally did a pretty good job of presenting a poor argument would show anything other than the simple cause and solution to these problems...

If I didn't know better I'd say this film was produced by bankers for bankers to lay blame nowhere and to appease public anger...

Waste of time, unfortunately...

Mon, 10/03/2011 - 22:42 | 1735686 Transformer
Transformer's picture

I agree!!

Mon, 10/03/2011 - 00:43 | 1732291 tyler
tyler's picture

"Bullshit series that puts the blame on capitalism."  Your either a liar for acting like you watched the whole series, or a knuckle dragging neo-con who wouldn't know what real capitalism is if it bitched slapped you in the face.  

Mon, 10/03/2011 - 02:12 | 1732359 baten
baten's picture

Me sir, I am very proud of my Austrian economics understanding of the things, and - as you pointed out - it is true that I have no ideea what "true capitalism" would look like, since it was never tried anywere in the world.

However, I am sure that failure of the fascistic/interventionism/collusionsim system that we experience today has nothing to do with "failure of capitalism".

Punishing banksters for wrecking the economy is OK - but it wont solve things, unless you address the state interventions that made it possible in the first place. The solution cannot be "more regulations - more intervention" just as the solution for "huge debt" cannot be "more debt".

Mon, 10/03/2011 - 01:00 | 1732315 Christophe2
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@dlmaniac: That wasn't all.  Did you notice how the movie lauded the BS answer given by a 'top economist' to the queen's question of "why did nobody notice it coming?".  Supposedly, it's because a system with 6 billion people is "too complex to understand".  Hello?  The financial destruction (like our wars) was all orchestrated and painstakingly implemented by the secret societies / satanists / banksters / politicians / etc. 

=> certainly, if you spend your life focused on figuring out how to take advantage of people (and propagate that over centuries), it's fairly easy to achieve what they have 'achieved'.

 

It was also telling how the movie didn't mention how Iceland basically refused to pay (most of) their BS debts to the bankster establishment and henceforth are the only country in Europe that is doing relatively well at the moment - a rather important detail, considering how Canada, like the rest of the world, is about to be cannibalized and wrecked to pay BS debts incurred by their own criminal banksters.

 

It's easy to make a seemingly 'hard hitting' series on a shocking topic like our global economic collapse.  However, the strength and value of it is easy to determine from the conclusions they reach: here we see conclusions and details that are totally safe for TPTB, ones that amazingly enough indicate that no one is to blame!

 

I've been happy to see decent coverage of Occupy Wall St on ZH recently, but highlighting this series is lame and a waste of time, IMO.  It is basically a mainstream (CBC) puff piece.

Mon, 10/03/2011 - 02:51 | 1732381 centralbanknews
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I wonder if they all remember the 80's debt crisis - the third world debt crisis - I saw this documentary the other day, and it's like if you updated the fashion and changed some of the names it would be difficult to tell the difference!

http://www.financedocumentaries.com/2011/09/prisoners-of-debt-inside-global-banking.html

To the brink and back and beyond...

Mon, 10/03/2011 - 04:21 | 1732431 Ponzified Plebe
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I also thought that Lagarde's positive treatment was odd, however, Al Jazeera's treatment of the events leading to the ongoing economic collapse had more texture and truth to it than anything we ever see in the major US news outlets. I realize that there are many bullshit calls on this documentary because of their lionization of some of the highest rated personae non grata amongst ZHers but the reviews here have been reactionary and lacking the substance that this noob has so greatly benefitted from with respect to the ZH community. Allow a bit of contrary opinion here:

1) The fact of the matter is that libertarian ideals are largely unrepresented in today's liberal democracies and modern capitalist societies. However Al Jazeera has managed to communicate that the economic collapse of market economies are still only just moving past stage 1.

2) They managed to capture rather compellingly the plight of the common man across the globe in a way that few news org's have the sack to do.

3) The fact that they showed corporate hostage taking in a positive light (in pt. 3 as they examined issues arising in France and Canada) lends some legitimacy to the quality (not perfection) of the documentary series. Maybe we should start thinking about similar ideas with respect to consumers holding their bankers hostage until we can see the reinstatement of Glass-Stegal, and a return to a un-debauched currency.

With respect to Lagarde, I wonder, given the way she is so summarily put back into place whenever she steps outside the party lines of the global central banks, what her private opinions are on the current crises. Even if she holds contrary opinions privately, anyone who advances as far as she has cannot rock the boat, leading me to the conviction that even the most decent individuals that comprise TPTB could never, never upset the status quo. Hell, Strauss-Kahn is described as sympathetic to a degree, even on the record on a major global news outlet, to the masses defrauded by corporate largess. Makes me wonder who the fuck is behind them pulling the strings.

The positive analysis notwithstanding, this documentary series is fundamentally propping up false solutions to the problems they expose. State solutions are precisely what has  given rise the issues we find ourselves in today. I realize there is a lot of fear of truly free markets these days, however just because we haven't ever seen  libertarian socio-political norms doesn't mean they are any more dangerous than the quasi-free markets and liberal democracies we see today. This is the glaring weakness of this documentary series, Al J should have dealt more in the parlance of liberty and solutions that maximize freedom, or any other news org with the sack to report on these matters.

I could  give a flying fuck about the negative feedback I get here, but the fact is there are enough thoughtlessly negative reviews here to gag a maggot. I'll give all due respect to a hater who takes the time to formulate a defensible position than the mindless dismissals that can't separate the wheat from the chaff. There's no need to throw the baby out with the bathwater here, and I'd frankly have a coronary if I saw a similar piece in the American media today.

Sun, 10/02/2011 - 19:10 | 1731651 LetThemEatRand
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Not that I'm defending her, but perhaps your reflexive revulsion of Maxine Waters and all she represents should be re-examined in light of the fact that she is on the right side of this issue.  

Sun, 10/02/2011 - 19:42 | 1731730 r00t61
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What if she's on the right side for all the wrong reasons?  E.g., maybe she's only talking this way because she thinks it'll get her more votes or whatever.  As soon as it becomes convenient to start singing a different song, she'll sing it.  I mean, she's a career pol, having "served" - and I use that word loosely - since 1993.  The bank that her husband worked at got $12M in TARP money as a result of her interventions, which led to a House Ethics inquiry - though, it is ironic and amusing to think of Congresscritters "investigating" each other for corruption.  Her Opensecrets page shows that the majority of her campaign contributions over her career have come from real estate, unions, and lawyers.  I guess those bankers haven't felt any need to bribe her thus far.  If JPM gives her $1M next election cycle (it's got all this money to throw around, seeing how much money they just gave to the NYPD), who wants to take bets that she backtracks on her anti-banker stance?

 

 

Sun, 10/02/2011 - 20:06 | 1731790 LetThemEatRand
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All valid points.  Our system practically guarantees that all of our national representatives become crooks (most start out that way, but many evolve into it), which is why I almost never defend any of them even if I agree with what they have to say in some instance or other.    I guess the issue that motivated my comment goes more to the fact that Waters tends to evoke a special hatred among many, while many far less hated representatives are openly aligned with the NWO.

Sun, 10/02/2011 - 21:16 | 1731945 Sabibaby
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These are good videos but 10 months old???? Really? Things are moving so much faster. I don't understand why it took me 10 months to find these videos. This way past current. The video has Straus Kahn pre NY rape!

 

To confusing Tyler, keep it current. I know it must be tough but this behind the times... Good info but still. Am I supposed to take these jokers seriously or not? or is that why you posted this?

Mon, 10/03/2011 - 01:03 | 1732178 Spirit Of Truth
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I applaud ZH for posting this documentary now.  I watched it from beginning to end and I think this is most timely.  The anti-bankster protests have finally kicked off in America (and I'm suspicious as to why now) just as what I believe could be "Black October" is beginning:

http://thespiritoftruth.blogspot.com/2011/10/meltdown.html

I personally think the benefits of "economic authoritarianism" are now too outweighed by the costs.  Therefore, great change is in store for the world economic system.  I don't know if you all have noticed, but dominant economic theories in modern times are about as misled and wrong as could be, and this is one of the primary reasons we are in the mess we are in.  Time for correction.

Sun, 10/02/2011 - 23:38 | 1732208 rocker
rocker's picture

Think about this, the MSM has the sheeple harnessed to believe that all is well.

Yes, it is very well repeating until the correction is over.

And justice is satisfied against the crooks who profited from their frauds and lies to pension funds and society as a whole.

Nobody of value has gone to jail yet. How many from GS itself belong in Jail.

I can think of more than I can count on one hand.

And for current. Occupy Wall Street is a Current Event.  It is only beginning.

Mon, 10/03/2011 - 05:24 | 1732444 Ay Caramba
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On the other hand, weren't the charges against Strauss-Kahn deemed as fabricated?  I don't think it's out of the realm of possibility that he was taken down because the powers that be deemed him too dangerous.

Sun, 10/02/2011 - 19:46 | 1731748 firerx
firerx's picture

Even Liars like "Mad Max" tell the truth sometimes. :P

Sun, 10/02/2011 - 20:10 | 1731810 gangland
gangland's picture

excerpting suskind's new book here http://falsepolitics.wordpress.com/ until i cant, watching this AJ series and reading suskind is interestingly divergent in POVs.

Sun, 10/02/2011 - 21:03 | 1731915 BlackholeDivestment
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http://www.youtube.com/watch?v=3sKpzmojjfU Maxine Waters is a corrupt dipshit.

Mon, 10/03/2011 - 00:04 | 1732255 iNull
iNull's picture

Maxine Waters, Maxine Waters...Wait a minute. It's all starting to come back to me now. Is this the same Maxine Waters who sat on the special House Subcommittee for Financial Services? Is this the Same Rep Waters who joined in with Barney Frank, castigating and eviscerating the head of the Congressional GAO for his investigation into malfeasance at Fannie Mae and Freddie Mac as far back as 2005? Is this the same Maxine Waters or have I got this brainless cunt mixed up with some other brainless cunt?

Mon, 10/03/2011 - 02:55 | 1732384 seek
seek's picture

Exactly. I used to think that Al Jazeera was a great source of news independent of the MSM here in the US. Then two things came to light that make them very suspect: one, wikileaks revealed connections between the CIA and Al Jazeera Director General Wadah Khanfa that just lead to his resignation, and two, during the Libyan "uprising" not long ago, Al Jazeera was one of the ones caught sending out falsified news and faked video.

They're an asset, just not to the truth. These reports are advocating answers that aren't in our best interests. AJ has lost the trust they'd earned in the past, presumably because someone decided to cash in some of the credibility capital they'd built up in the past to manipulate public opinion now.

Once again, TPTB are getting desperate, because they're making mistakes and moving so far and so fast that fairly ordinary folks can spot the lies.

Sun, 10/02/2011 - 20:47 | 1731888 GhostfaceCracka
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Al Jazeera? Russia Today is where it's at.

Mon, 10/03/2011 - 10:27 | 1733001 StockInsanity
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After watching this series and the fourth video particularly...its no wonder that DSK potentially got framed and kicked out of his position at the IMF.....one way to stop him from talking credibly

Sun, 10/02/2011 - 18:05 | 1731518 Ahmeexnal
Ahmeexnal's picture

So Canada belongs to Al Jazeera?

Sun, 10/02/2011 - 18:27 | 1731560 Rakshas
Rakshas's picture

Not yet,  The series first aired on CBC as part of the Doczone offerings but not many folks watch CBC so I reckon they sent it to AJ to get more views.....

Sucks that you have to go to AJ or RT to get more accurate propaganda on your own back yard..... does anyone need the first amendment anymore?? Its not like they're actually using it..... 'cept Youtube and John Stewart

 

Sun, 10/02/2011 - 18:44 | 1731592 mtomato2
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And Dude, let us not forget.  LET US NOT FORGET... The Onion.

Sun, 10/02/2011 - 18:32 | 1731572 knukles
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One of my Way Too Far Right of Attilla the Hun is an Understatement Somewhat Misguided Golf Amigos said that if we don't stop 'em in Af-Pak, next thing we'll know is that they'll be running the US Health Care System.
So ah, by extension that's reasonable, I'd guess.

Sun, 10/02/2011 - 20:53 | 1731898 john39
john39's picture

we would be far better off that way than the vampires currently running our "health care" system...

Sun, 10/02/2011 - 18:09 | 1731524 equity_momo
equity_momo's picture

Bravo ZH for bringing this series to your readership.

The previous installments have challenged some personal long held beliefs . The last 3 years has been a constant questionning of those beliefs - like tectonic plates shifting i am a different and (hopefully)wiser person.

I shall now go and watch this last episode. Good evening.

Sun, 10/02/2011 - 18:55 | 1731619 Ahmeexnal
Ahmeexnal's picture

This series is propaganda.
Half truths, half lies.
So now the sheeple are to believe people like Lagarde, kings and queens of Europe, Sarkozy, and others are heroes fighting for the poor masses.
Lies I tell you.
They are just trying to fool you. After all, they want to keep their heads attached to their bodies.
But they will fail.
The hit mob squads will find them all.
And off their heads will fall.

Sun, 10/02/2011 - 19:02 | 1731629 Captain Benny
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Agreed.  It did seem quite biased at making a few select people look good on camera.  Its not like any PR stunt will save the dicks and bitches of the western banking world.

Lagarde deserves the sames cruel justice as her international cohorts: death by hanging for crimes against humanity.

Sun, 10/02/2011 - 19:36 | 1731697 Hugh_Jorgan
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I don't know about lies, but half-truths and omissions abound. The key is to learn what you can from the series but understand that this is incomplete and many more people share blame. This includes those Americans that have collectively sleep-walked through the past 100 years of our civic life. Those of us who prided themselves on their success in "working the system". Those who failed to teach our kids that self reliance and personal responsibility are vital pillars of our civil society. Those, like myself, who ignored the "no free lunch rule" as we slurped up cheap electronics made with slave labor, McMansions, 36mo BMW leases, and all the other meaningless crap that once passed for substance. This time our lesson will be especially hard-learned.

I won't espouse mob rule or street justice, though. This will only usher in Napoleon or Hitler. Unhinging civil society for cheap vengeance without a plan is literally collective suicide.

Sun, 10/02/2011 - 19:51 | 1731760 Ag Star
Ag Star's picture

You don't know history do you? That is not how Hitler or Napoleon came to power.  Don't quit your day job--if you have one.

Sun, 10/02/2011 - 23:23 | 1732186 TaxSlave
TaxSlave's picture

And it looks like diversionary crap like this is intended to sweep us right back into another episode.

Redefine the terminology (like crapping all over capitalism, then 'rethinking capitalism'), then you can present people with a Sophie's choice, two untenable alternatives, and it doesn't matter which one they pick.  Either way, they're just screwed.

All the heat and noise is intended to draw attention away from the fact that there is a player in the game that can print money.  And that money buys power, and influences everything.

So go ahead and demonstrate on wall street, call for a French Revolution type bloodletting.  You'll just be trading a Hitler for a Stalin, or a McCain for an Obama.  Just remember, when the people behind the curtain are done with one useful idiot, they will gladly toss him off the balcony into the murderous crowd below while their henchmen lead the cheers and violence.  There are legions more willing to be the next 'leader'.  And it will be different next time, won't it?  Just like Charlie Brown and Lucy with the football.

If you don't cut off the free money, you're shooting at the wrong target.

Sun, 10/02/2011 - 22:14 | 1732009 LetThemEatRand
LetThemEatRand's picture

AhmeexnalI don't agree with everything you post, but I agree with everything you just said.  But having said that, propaganda that half educates is better than nothing.  This piece could help move people in the right direction.  Maybe you did, but I didn't figure this shit out all at once.  It took a long time for me to figure out that most of what I learned my whole life is a big fucking lie.    Baby steps, baby.  

Sun, 10/02/2011 - 18:13 | 1731532 DoChenRollingBearing
DoChenRollingBearing's picture

I've been planning for the crisis since the 1980s.  Someday, maybe like a broken clock, I will be right.

Sun, 10/02/2011 - 18:31 | 1731570 X.inf.capt
X.inf.capt's picture

more right than you know, bro

+1

Sun, 10/02/2011 - 18:35 | 1731581 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 back at ya.

Since the 1980s...  Does Jimmy Carter count?  LOL...

Really since the 1970s, but I did not have the means of buying gold until the 1980s.

Sun, 10/02/2011 - 18:31 | 1731571 Campagnolo
Campagnolo's picture

why from 1980?, the 80's weren't this bad, even the 90's we were ok to fix things....to me the point of no return is after 9/11/2001

Sun, 10/02/2011 - 18:56 | 1731623 DoChenRollingBearing
DoChenRollingBearing's picture

Just lil ol paranoid me!  My mindset...

Your implied point that things are harder to resolve NOW vs. then, is spot-on, so have a green one me!

Sun, 10/02/2011 - 19:51 | 1731759 Chuck Walla
Chuck Walla's picture

No, it was the 90s when Bawney Fwank, Bill the boy president clinton and Dodd decided afawdable howsing meant banks being forced to make loans to people they knew could never pay it back. Then people like FNMA CEO Frank Raines and his side kick, another Clinton appointee, Jamie "the wall" Gorelic, got huge bonuses for bringing  in volume. Nobody cared about the credit quality.  Raines was later made to disgorge some of the fraudulently obtained bonus cash.  So the banks and Wall St. invented the CDO to make money on the crap that was the sub-prime loan scam.  Really?  Bank regulators had no problem with no document loans?  Or did someone order them to have no problem?

Sun, 10/02/2011 - 21:11 | 1731856 i-dog
i-dog's picture

"why from [the 1980's]?"

The 80's were the first obvious sign of "irrational exuberance" in the West and the first sign that the old manufacturing paradigm was transformng into purely service and consumer economies in the developed world.

By New Year 1990, it was obvious [to me] that a new paradigm was needed in the developed world to cater for decreased productive employment (which was shifting to the emerging manufacturing economies of South-East Asia and Central Asia) and increasingly purely service economies (where everybody was becoming a hairdresser, personal trainer, musician, or waiter/waitress).

The fundamental problem -- that has not been addressed at all since the 1980's -- is that a new means of creating wealth is needed in the West to pay for the goods imported from the developing manufacturing economies. It is an irreversible trend (first demonstrated by the transfer of manufacturing from old Europe to the New World in the 19th Century) that must be dealt with by some other means than simply burying one's head in the sand and hoping it will go away (ie. by running up increasingly unpayable debt).

Sun, 10/02/2011 - 20:56 | 1731902 john39
john39's picture

since the events of 911 were actually part of an elaborate ritual with symbolism drawn from pre-historical times, you can be sure that this goes back a lot further than 1980.

Mon, 10/03/2011 - 02:24 | 1732365 Oh regional Indian
Oh regional Indian's picture

Deep Ritual Symbolism indeed. I think I found something interesting... the most popular Bush Photo on the day, just loaded...

http://aadivaahan.wordpress.com/2011/10/01/potent-911-symbolism/

ORI

 

 

Mon, 10/03/2011 - 00:08 | 1732261 Diogenes
Diogenes's picture

It was the 70s early 80s when the survivalists and Mad Max bunch first got going. It wouldn't surprise me if someone got into the whole survivalist thing back then.

The right wing paranoia faded quickly under Reagan. Then the left went apeshit.

Sun, 10/02/2011 - 18:40 | 1731584 tim73
tim73's picture

So you got an underground bunker full of used tuna cans and stacks of Knight Rider on Beta cassettes? Hope you taped Baywatch too...David Hasselhoff is essential for surviving nuclear winter.

Sun, 10/02/2011 - 18:13 | 1731536 Monedas
Monedas's picture

Rethink Capitalism, my tail feathers ! We need the courage and wisdom to explore it for the first time on a systematic and commited basis ! We need to give Capitalism 5% of the Leap of Faith invested in Socialism and the New Deal ! Capitalism.....it's what's for dinner ! Monedas 2011 Nothing good will happen until we get our minds straight !

Sun, 10/02/2011 - 18:22 | 1731550 DoChenRollingBearing
DoChenRollingBearing's picture

Monedas is becoming one of my favorite posters here, please have some green !

Yes !  Let's give Capitalism, in its unperverted form, a chance.  Will it happen?  Not soon...

Bearing Rolling Jihad Comedy Tour !

Sun, 10/02/2011 - 19:53 | 1731762 Hugh_Jorgan
Hugh_Jorgan's picture

Amen. A perfect system doesn't exist and any system that claims to serve it up is a vile deception. However, the Free Market, (I don't use "Capitalism", it's a perjorative coined by Mr. Karl "the asshole" Marx), is the most fair system that can be devised, especially when it exists in a civil society that values philanthropy and honesty.

I always laugh at the Radical Libs that claim that they want to foster social systems that honors nature and "survival of the fittest", ala; the wildly discredited Eugenics concept. However, a free market really is performance-based survival of the fittest and it's evil! Huh!!!?

Worse, the Governments that Collectivists create always amount to "a tyranny of those who declare themselves fittest", and 10s of millions die at their hands despite their compassionate, huggy-feely rhetoric. They love you, just don't get in the way of their plan or you will end up with a bullet in your head.

Mon, 10/03/2011 - 01:09 | 1732323 sigitasp
sigitasp's picture

in my oppinion fair is just expression, only thing real, is universal laws,  he/she who can addapt to enviroment the best survives, everything else is jus human indulgence.. So the the free market is only "fair' real system which can work and be "fair". So as comrad lenin said he who do not work do not eat... it was only resonable expression he made...

Sun, 10/02/2011 - 20:38 | 1731870 snowball777
snowball777's picture

Have you considered that you've never seen an 'unperverted' form of capitalism....because there isn't one?

Sun, 10/02/2011 - 18:29 | 1731566 Buckaroo Banzai
Buckaroo Banzai's picture

Thank you for posting that. Saved me the trouble.

Sun, 10/02/2011 - 18:38 | 1731583 Mr. Fix
Mr. Fix's picture

Me too.

Sun, 10/02/2011 - 18:53 | 1731615 mtomato2
mtomato2's picture

I love Capitalism.  I believe in Capitalism.  I understand Capitalism.  I am a Capitalist.

And, unfortunately, Capitalism, like Communism, will never work.  People are innately evil, self-centered, short-sighted, greedy little shits who will NEVER understand that, in the end, taking is ALWAYS less productive than giving.  Taking consumes.  Giving produces.  Remove taxes and see what happens to charitable giving.

But the quest for all-consuming self-centered power over others will prevent anything in this world from EVER working.

Mark my words.  We are doomed, have always been doomed. It's not negative.  It's reality.

 

"Ever since the fall of man, things have been tough all over..."  Robin Williams, "The Best of Times" 1986

 

Sun, 10/02/2011 - 20:16 | 1731818 Hugh_Jorgan
Hugh_Jorgan's picture

You're right, people are inherently evil in varying degrees. However, we need to encourage fighing those tendencies rather than embracing them as today's society has. We can't give up teaching our kids to do the right things, even if it hurts us to be honest. We started giving up on those ideas in the 1960's and it has landed us in deep trouble.

As Americans with the privileges we enjoy, we owe it to future generations to do the hard work, especially when it is so obvious that it is do-or-die time. A glacial movement got us here, we can slow the movement and reverse direction if we keep pushing and pass on the fight to our kids. Fix yourself and then lead by example.

BTW, were you aware that Americans give more than $300B in voluntary charitable giving each year, during a recession?

Sun, 10/02/2011 - 20:40 | 1731876 snowball777
snowball777's picture

How many of them did so without taking the tax deduction?

 

Sun, 10/02/2011 - 22:14 | 1732051 mtomato2
mtomato2's picture

Meh.  Tax deduction, schmax deduction.  Not my point. 

My point I hold true as axiomatic:  You get more when you give than when you take.

Remove taxes, and charitable giving goes through the roof.  Because you get more back that way.  From every possible perspective.

 

Sun, 10/02/2011 - 22:40 | 1732101 sgorem
sgorem's picture

"From every possible perspective".   that's a 10-4 'mater...........

Sun, 10/02/2011 - 23:37 | 1732211 mtomato2
mtomato2's picture

'funny how everybody measures wealth in dollars...

Mon, 10/03/2011 - 02:32 | 1732362 Incubus
Incubus's picture

 

 

And, unfortunately, Capitalism, like Communism, will never work.  People are innately evil, self-centered, short-sighted, greedy little shits who will NEVER understand that, in the end, taking is ALWAYS less productive than giving.  Taking consumes.  Giving produces.  Remove taxes and see what happens to charitable giving.

But the quest for all-consuming self-centered power over others will prevent anything in this world from EVER working.

Mark my words.  We are doomed, have always been doomed. It's not negative.  It's reality.

However true that may be, people love a good story; they're interested in good drama--in a lively show. The sale is all that matters to them. During my time on ZH, I've been preaching the same thing: ultimately, all effort will amount to nothing because of human nature. But that doesn't get people like some good myopic motivation does.

So,

Rise up and fight the great evil! We will prevail and right the wrongs of society and every man will be totally free to whore himself through various acts for money!

Yep, that's freedom, isn't it? I get to do shit I don't want to do to accumulate subjective wealth that's supposed to somehow stand as a measure of my freedom, but never does?

Sorry... I'm not very good at this motivational thing.

You assholes, go find someone else to sell you a good bit of drama in which you're all wholesome crusaders of the just that'll prevail, no matter what. Everyone fails to realize that it's not power that corrupts people: power is a mechanism that just enables what's already there, and there is no good man on the face of this planet. Give any man enough power, and you'll see just how corrupt he can be.

 

I think that's a great slogan:  Capitalism: a society of whores and hedonists.

 

We're all a bunch of nasty, dirty motherfuckers.  What won't we do for a paycheck--steady income--and then more income, and more, and more, and more?  Whores--all of us.

Mon, 10/03/2011 - 03:07 | 1732392 AnAnonymous
AnAnonymous's picture

Makes me laugh. The way US citizens picture the whole humanity through their narrow biased US lens never ceases to amaze.

Sun, 10/02/2011 - 19:52 | 1731763 Chuck Walla
Chuck Walla's picture

What Capitalism? The one that bought GM? Or the one that controls healhcare?

Sun, 10/02/2011 - 20:20 | 1731827 Hugh_Jorgan
Hugh_Jorgan's picture

Maybe you should finish reading the post before chiming in...

Sun, 10/02/2011 - 20:26 | 1731841 11b40
11b40's picture

The one that bailed out the banks?

Sun, 10/02/2011 - 21:28 | 1731971 itstippy
itstippy's picture

 

We need to form a Blue-Ribbon Congressional Committee to rethink capitalism.  They could get verbal testimony and written input from the nation's leading economists.  Put our nation's best and brightest minds on the problem.  Imagine what we could accomplish if we got the Secretary of The Treasury, Chairman of the Federal Reserve, members of the Securities and Exchange Commission, etc., to all work together rethinking capitalism.  It would be like another Manhattan Project! 

Just the thought of it leaves me breathless.

Sun, 10/02/2011 - 22:16 | 1732054 mtomato2
mtomato2's picture

I think you mean "without breath..."

Sun, 10/02/2011 - 18:15 | 1731541 Roger O. Thornhill
Roger O. Thornhill's picture

I wrote this about the last part - I like that they are doing this documentary as it exposes the madness, but I sense the CBC has a different answer - they are calling for more regulation, more global financial power, etc. - and on the surface their argument makes sense - but the real issue is that government, the SEC and the FED let this happen - so here is a reprint of what I wrote as I am too tired to re-write (so copypasta):

 

It's actually simple - the system we fight against is not capitalism per se - it is collusion.

Collusion between governments and the TBTF banks/financial institutions.

Anti-Trust laws were supposed to prevent this (at least in the USA), but govt is bought out. If you think bigger govt will fix this you are wrong. It will be BIGGER collusion, regulations that prop up the monsters and destroy the small banks, and then we'll get IBTF banks (Impossibly Big To Fail).

Break these institutions down into bite size pieces, then they can never hold us hostage again. 

I'm a libertarian mostly - but monopolies are NOT free trade, or a free market. Smaller is better. That was point of the US Constitution -> de-centralization.

What I fear is a false paradigm is being floated here - that we must have a tighter relationship between big banks and big government via 'regulations' that favor the TBTF's. And that just gets us sovereign defaults, and that can destroy the world. Or usher us into the most hellish scenario - one monstrous, unanswerable global government that there is no defense against.

BTW, may I just add... Fuck the Fed.

 

Sun, 10/02/2011 - 18:23 | 1731555 DoChenRollingBearing
DoChenRollingBearing's picture

Green!  Yes Roger on all of your points.  Nicely explained, bravo!

Sun, 10/02/2011 - 18:42 | 1731589 Roger O. Thornhill
Roger O. Thornhill's picture

I just have to add, that it was the govt that DID NOT allow 'to big to fails' - to fail. Paulson (R) (treasury secretary) bailed out AIG, and that money went straight to Goldman. Govt gave in to the crooks, and continue to do so via little Timmy Geithner (D).

So who are the enablers of crooks? Washington DC and the FED.

Goldman's gambling would have blown up in their faces, if not for our elected leaders. If Govt had just stayed out of it there wouldn't be a Giant Squid (Goldman) today. A lesson would have been taught. Good players, smart players would have won and we'd be in the process of real recovery. Too many think there are fantasy good guy politicians - if we have any hope people will finally stop believing in a nonsense, fairy tale, govt authority and their enablers in the FED, IMF, etc.

Further proof of malfeasance, where is the SEC in any of this? There is a Democrat appointed SEC head - has she gone after any of these people? NOPE! The left/right paradigm is a joke.

And you trust a bigger corporate/government/progressive system to fix this?

Don't hold your breath.

Sun, 10/02/2011 - 18:54 | 1731616 DoChenRollingBearing
DoChenRollingBearing's picture

SEC, the Department of Justice, the Treasury and the FED still must have access to all that great internet porn I keep hearing about...

More green for excellent and coherent comments.

Sun, 10/02/2011 - 19:10 | 1731647 Captain Benny
Captain Benny's picture

You remember watching that really good one with a secretary wearing glasses all dressed up in business attire?  The office worker walks in asking for files on Goldman Sucks... as the audio fades out, elevator music starts, and clothes come off?  That was filmed at the SEC's World Trade Center office... so DUH! They totally got the best porn.  Its filmed onsite and streamed live to their desks.

Whats that you ask?  What about their huge fiber conduits from the exchanges?  Oh, yeah those.  All that otherwise dark fiber is being used by NANEX to actually catch the criminals and do the SEC's job as best they can without legal ability to bitch slap the trading firms.

Sun, 10/02/2011 - 23:47 | 1732224 DaveyJones
DaveyJones's picture

good posts roger. this is about corruption not capitalism, the removal of good regulation, the unwillingness to enforce the decent ones left and the enabling of insane regulations crafted by the very criminals who benefit from them. This may be more a lesson of laziness and dumbing down. democracy and capitalism take constant work        

Mon, 10/03/2011 - 00:56 | 1732309 sigitasp
sigitasp's picture

the fuckers always do that, they just turning everything upside down

Mon, 10/03/2011 - 03:10 | 1732394 AnAnonymous
AnAnonymous's picture

That was point of the US Constitution -> de-centralization.
////////////////////////////////////////////////////////////////////////////

No. That was not the point of the US Constitution. The point was centralization.

In those times, there were much less centralized systems than the US advocated by the US constitution.

The US started as centralized as it was possible in those times. Certainly not as the least centralized it was possible.

Sun, 10/02/2011 - 18:21 | 1731542 HedgeAccordingly
HedgeAccordingly's picture

great series.. futures on the lows.. giddy up. 

http://www.hedgeaccording.ly/2011/10/daily-look-at-theoretical-spy-outco...

Sun, 10/02/2011 - 18:22 | 1731552 AllegoryOfTheCave
AllegoryOfTheCave's picture

get ready for ONE WORLD PAPERLESS GOLD "BACKED" SYSTEM and the RULING STATE OF ISRAEL that will follow the RULING STATE OF USA. Glen Beck sells his house in Connecticut and moves to ISRAEL and is telling you that YOU will NEED to make a choice ....are you FOR or AGAINST Israel. 2012 will be the opportunity of a lifetime to rile up the masses before the transition. If you think this is just about money , you are only scratching the surface.

Sun, 10/02/2011 - 18:29 | 1731567 tim73
tim73's picture

Hey, they let you to use Internet too! Ain't this place great or what! But be careful, the Big Jew in New York is watching and I think one of the doctors is also one of "them"...you know who I am talking about.

Sun, 10/02/2011 - 18:51 | 1731611 AllegoryOfTheCave
AllegoryOfTheCave's picture

DR. Ron Paul.

Sun, 10/02/2011 - 19:34 | 1731709 buzzsaw99
buzzsaw99's picture

the big joo is wall street's santa claus. funny satan, santa, hmm, the bible warned me about the synagogue of satan clause.

Sun, 10/02/2011 - 21:31 | 1731977 Hugh_Jorgan
Hugh_Jorgan's picture

You need to re-tune your tinfoil hat there dude. You have a new Islamic Caliphate forming. They have the radical left helping them and both parties are bent on destroying Israel for different reasons. They have the formidable armies of Egypt, Turkey, Iran, Russia, and probably China arrayed against them now sans brutal pro-western dictator. Israel doesn't exactly have the world on a string, so I'm not sure how you came to your conclusions here?

Hate the Banksters, hate Beck? Fine, we judge them for their deeds and what they say (if you actually take the time to listen to a complete thread, and NOT just log in for the fast food, soft-serve opinions on HuffPo). But don't include every Jew in your cross-hairs when it is <1% of their population that fits the greedy dirt-bag mold. We should be able to get beyond using generalizations to justify our inner bigotry these days. There are probably more receptive boards than ZH to bait for antisemitism. May I suggest a white supremacist site?

Sun, 10/02/2011 - 22:06 | 1732032 AllegoryOfTheCave
AllegoryOfTheCave's picture

what makes you think the international ''jewish'' bankers are really jewish, i.e. people who love God and practice the 10 Commandments (thou shall not steal, thou shall not kill)... i am not talking about the people. i am talking about the government and banking institutions. very distinct difference.  you should check out why a satanic symbol of the occult is on their flag. please look up the history and significance of the six-pointed star, it is anything but the so called ''star of david''. 

 

 

 

 

Sun, 10/02/2011 - 22:10 | 1732038 Green Leader
Green Leader's picture

The vast majority of 'Jews' in Israel are NOT semitic people, they are Ashkenazi (Japhethites, see Genesis 10:1-3)

I am 100% Hebrew: Xuete, Sephardim & Hebrew-Celt, a disciple of Yahushua.

 

Mon, 10/03/2011 - 03:12 | 1732397 AnAnonymous
AnAnonymous's picture

They have the formidable armies of Egypt, Turkey, Iran, Russia, and probably China arrayed against them now sans brutal pro-western dictator.

:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

Hyperbole is cheap in this US driven world.

Sun, 10/02/2011 - 22:22 | 1732071 Green Leader
Green Leader's picture

"If you think this is just about money , you are only scratching the surface."

Look up Noahide Laws.

Sun, 10/02/2011 - 18:24 | 1731556 tim73
tim73's picture

This decade is turning out to be so fucking happy one! Or they changed my meds again without my knowing. I hate when they do that.

Sun, 10/02/2011 - 20:27 | 1731845 medicalstudent
medicalstudent's picture

fluorosilicic acid bitchez.

 

drink up.

Sun, 10/02/2011 - 20:37 | 1731869 Yen Cross
Yen Cross's picture

 You have a post " valid" comment.  I respect your life saving abilities.

Sun, 10/02/2011 - 18:26 | 1731558 Voodoo-economist
Voodoo-economist's picture

ffs all other 3 parts are unavailable :(

Sun, 10/02/2011 - 18:30 | 1731569 disabledvet
disabledvet's picture

I think these folks have the dialectic down pretty good!
http://www.youtube.com/watch?v=LlRnMNkEyB8&feature=player_detailpage
scary to think this is what we have coming our way for real.
I do not recommend this solution:
http://www.youtube.com/watch?v=-UHOgkDbVqc&feature=player_detailpage

Sun, 10/02/2011 - 18:47 | 1731600 PaperBugsBurn
PaperBugsBurn's picture

A question for the Tylers:

Sat, 10/01/2011 - 09:49 | Setarcos

Al Jazeera!  A tool of the NWO based in Qatar.

Qatar is a dictatorship FYI that funds Al Jazeera and is in bed with Washington/Wall Str.

Right now Qatar special forces are on the ground in Libya, along with regular Washington/NATO mercenaries for Wall Str/City of London/banksters.

No!  This is not just a rant.

Qadafis main crime was bucking the IMF, etc. and so this, if you can bear to watch what is being done to Libyans: http://www.mathaba.net/news/?x=628858

I know Libya - I have lived there.

I DARE you to watch graphic footage of how Washington/NATO is 'saving lives' ... you will never see it on Al Jazeera, CNN, etc.  What I am offering you is real ... impossible to fake.

Sat, 10/01/2011 - 12:33 | Careless Whisper

I'm calling Bullshit on this movie and ZeroHedge for promoting it.  In my opinion it is a propaganda piece and I wouldn't be surprised if ZH is engaged in a paid promotion, cross promotion, or other type of scheme. Or maybe it was a couple of box seats for the World Series, who knows.

I'm not going to waste my time disecting the entire part 2. Just a few points.

First, (and it was so obvious), during the introduction of the movie we are told "Only now are the key players being held to account." Oh really? I missed the part about the indictments and the handcuffs.

I don't think the word Fraud was mentioned once in part two of this thing. We do get to see a clip of Congresswoman Marcy Kaptor telling foreclosure defendants to "resist the sheriff".  A few minutes later... cut to riots in Europe.

No mention of the infamous 3 page bank bailout proposal by Secretary Paulson, which contained this gem:

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

The piece of garbage (my opinion) spends about 8 minutes trashing Iceland for not allowing the foreign Banks to perform another financial coup d'etat. No mention that Iceland's unemployment rate dropped from a high of 9.3% about two years ago to its current 6.7%. The thing ends with something about China's economy collapsing because they engage in "brutal capitalism" where factories are allowed to go bankrupt and close down. Of course the main theme being, we musn't ever let that happen to a big global bank.

As for the title, Meltdown... pffft. There was no meltdown, there was a robbery and a coup d'etat as Max Keiser described it a few years ago:

http://www.youtube.com/watch?v=VSwWy4E6I04

As for the title of part two, with its focus on some of the European sovereign debt, I would go with Full Tilt Poker European Style.

Why is this propaganda on ZH?

On a related note, I detect a bit of Stockholm Syndrome coming from ZH these days. 

Repeat after me:

 I love the zionista NWO!

Heil Nutanyahooooo!  (very deeply ironic as Hitler was a bastard Rotscum)  

 

One more question:

why no coverage of tbtfs reducing their gold and silver shorts?

Mon, 10/03/2011 - 03:14 | 1732400 AnAnonymous
AnAnonymous's picture

Qatar is a dictatorship FYI that funds Al Jazeera and is in bed with Washington/Wall Str.

/////////////////////////////////////////////////////////////////////

Qatar is peopled with US citizens. No surprise here.

Sun, 10/02/2011 - 18:47 | 1731601 ivars
ivars's picture

Pls check this post in TF metals:

http://www.tfmetalsreport.com/comment/64599#comment-64599

They allow posting pictures, and thus post becomes much more informative.

Sun, 10/02/2011 - 18:49 | 1731607 stirners_ghost
stirners_ghost's picture

"The world has to start planning for the next crisis"

Fuck.

Planning created his mess. Blind to the non-Gaussian, central planners have just enough knowledge to be dangerous.

Stop planning/meddling/governing/getting-what-you-want-by-pointing-guns (government is the business of market distortion; all political means amount to extortion). Stop fucking with things that are fantastically, dynamically complex beyond your comprehension--you'll only make them worse.

Or... keep coiling that spring... ensuring the snap back to market equilibrium decimates civilization as you know it. Every ounce of sweat you've extracted from me via force will be taken back doubly--from your hide--by natural forces. That's a thermodynamic gaurantee.

Sun, 10/02/2011 - 18:52 | 1731612 Gohn Galt
Gohn Galt's picture

What's up with the Queen quote "If you're so smart, why didn't you see the whole thing coming?"

I seam to remember Coutts / RBS (Royal Bank of Scotland) sending a memo to all their high net worth warning of the collapse 1 -2 quarters before.

Sun, 10/02/2011 - 20:44 | 1731880 snowball777
snowball777's picture

You see, the only people claiming "it" was coming were Marxists and economists with PhDs...we've been so used to using them as contrary indicators that we could never assume that they were 100% correct in this instance.

 

Sun, 10/02/2011 - 18:52 | 1731613 buzzsaw99
buzzsaw99's picture

qe infinity can fix anything.

Sun, 10/02/2011 - 19:31 | 1731694 Yen Cross
Yen Cross's picture

Arrr. Matey!

Sun, 10/02/2011 - 20:46 | 1731887 buzzsaw99
buzzsaw99's picture

yo ho ho and a bottle of whatever

Sun, 10/02/2011 - 21:09 | 1731928 Yen Cross
Yen Cross's picture

Thanks Buzz. We have along week ahead of us. 

  I always watch your thoughts.

Sun, 10/02/2011 - 18:56 | 1731620 SwingForce
SwingForce's picture

Christine LaGarde came through in the pinch with the warning, then the scolding, of Honk Paulson, now she's displaced DSK at the IMF. She's kicking ass, and she's NOT from Germany, hmmmm.

Sun, 10/02/2011 - 19:02 | 1731633 Monedas
Monedas's picture

The high priests and architects of the failure called Socialism are paraded here and given a pass ? This is disgusting and deceitful ! These are the people who should be jailed.....DSK, Reich et al....what a bunch of mental filth ! Monedas 2011 One thing is clear....these idiots are incapable of fixing what they've done ! Keep on hoardin' !

Sun, 10/02/2011 - 19:03 | 1731635 Squishi
Squishi's picture

did someone say silverbullet?!

Sun, 10/02/2011 - 19:17 | 1731666 Yen Cross
Yen Cross's picture

 Good old Boner nose, himself!   F..k post facto!

Sun, 10/02/2011 - 19:21 | 1731670 Confuchius
Confuchius's picture

So obvious: the "meltdown" was planned and carried out to show the sheeple that only a new global (and unelected) government could possibly "prevent" this sort of catastrophe from reoccurring.

Notice: There are no shots of the kriminal megabanksters picketing their banks protesting their loss of jobs. Now, why would this be?

So obvious. F**k all of you. On with the NWO!

Sun, 10/02/2011 - 19:24 | 1731680 porrannor
porrannor's picture

This is a disaster in the making, no question about it but come on, a "City Boy" telling us; "how it is" must be a major turn off. Not to mention the queen, the premier, the IMF president and other trash... Oh..and let's top it off with Al Jazeera.. Now we need al quaida to tell us how it is.... is the ZH loosing it or it is being overun by middle east? Please, explain youself...Are you becoming trash as the rest of them?

 

Sun, 10/02/2011 - 19:55 | 1731766 zorba THE GREEK
zorba THE GREEK's picture

If I had to choose between Als for credibility, I would choose Jazeera over Gore.

Sun, 10/02/2011 - 19:39 | 1731719 ItsDanger
ItsDanger's picture

I would listen to the arguments against capitalism more closely if we actually had a capitalist system.

Mon, 10/03/2011 - 03:17 | 1732403 AnAnonymous
AnAnonymous's picture

I would listen to the arguments against capitalism more closely if we actually had a capitalist system.
///////////////////////////////////////////////////////////////////////////

Maybe providing evidences that what is going now is not capitalism would help.

It can be easily showed that what is going on in the US world order is the same as what was going on in the US since the start of the US.

So either the US has been capitalist and then, what is going on is capitalism or the US has never been capitalist and at this point, one needs to provide examples of capitalist locations or use unicorn references.

So let's see what US citizens are able to deliver.

Mon, 10/03/2011 - 09:39 | 1732813 ItsDanger
ItsDanger's picture

Many industries are just oligopolies where competition is scarce and price gouging is the norm.

Sun, 10/02/2011 - 19:50 | 1731756 Lord Welligton
Lord Welligton's picture

I watched 4 minutes of that and gave up.

It's crap.

What is it doing on ZH?

 

 

Sun, 10/02/2011 - 19:53 | 1731765 Yen Cross
Yen Cross's picture

I concur!

Sun, 10/02/2011 - 20:38 | 1731871 THE DORK OF CORK
THE DORK OF CORK's picture

Yes , its very shallow , it gives the impression that Largarde is a defender of Labour !!! Jesus.

Mon, 10/03/2011 - 00:23 | 1732276 Hephasteus
Hephasteus's picture

I watched 27 minutes of that crap and the amount of denial over the basic aspects that the sysetm is grounded in fraud, rooted in fraud and will only pair back to the root fraud. Once you realize that the world is only interested in perfecting fraud and perfecting the hiding of it's root it's obvious what the prolblems are. You give enough people enough debt slaves and they go fucking crazy. Air conditioned beaches in dubai. You have got to be shitting me.

Mon, 10/03/2011 - 04:15 | 1732428 Lord Welligton
Lord Welligton's picture

Yep.

Fraud and rent seeking.

Sun, 10/02/2011 - 20:05 | 1731797 mcguire
mcguire's picture

loved the part with dsk, no wonder they framed him.. he was making too much sense..

Sun, 10/02/2011 - 20:07 | 1731801 narnia
narnia's picture

these central wankers are nuts.  the 18% share of the IMF thrust on the backs of the American taxpayer is many magnitudes worse than the green energy debacle.  this enterprise needs to be put to rest pronto.

Sun, 10/02/2011 - 20:10 | 1731804 Atomizer
Atomizer's picture

The elected US puppets and institutional banks need for you to accept higher taxes. They have new jobs to create in undeveloped nations under a humanitarian crisis program theme.

Sun, 10/02/2011 - 20:09 | 1731808 porrannor
porrannor's picture

The editor of Financial Times stated: "The financial system is much to complex for us morons to understand. Please, don't blame us for we are retards. Yet, allow us to fix it so we are ready for another f..k up of ours".

 

Way to go ZH..Why don't you just re-publish all Al Jazeera content and be done with it. Or better yet forward the 'www.zerohedge.com' domain directly to Al Jazeera.

Sun, 10/02/2011 - 20:15 | 1731816 Atomizer
Atomizer's picture

OK cunt rag. I try to play nice on this site. But your beyond stupid

Explain your Quants fuck up!!

http://vimeo.com/10382142

Sun, 10/02/2011 - 20:23 | 1731833 fdisk
fdisk's picture

"Why don't you just re-publish all Al Jazeera content and be done with it"

bu-ha-ha-ha!!! 5++++

Sun, 10/02/2011 - 20:18 | 1731823 Yen Cross
Yen Cross's picture

Since when is , the Financial Times my > eur/usd meltdown scenario?

Sun, 10/02/2011 - 20:20 | 1731829 fdisk
fdisk's picture

Ohh no, not again :) What exactly is melting down? Ice cream?
Gold? Dollar? "After The Fall" Who or What is falling? Copper?
Copper, falling, Chinese stock piling it..
Boom, doom and gloom :)))

Sun, 10/02/2011 - 20:33 | 1731861 Yen Cross
Yen Cross's picture

Fantastic comment, { FdisK}

 

  The copper trade was burnt 3-4 months ago.

Sun, 10/02/2011 - 20:26 | 1731843 medicalstudent
medicalstudent's picture

"you cant have a free market without free market money" - maloney

 

when will people understand we do not have capitalism?

Mon, 10/03/2011 - 08:51 | 1732705 falak pema
falak pema's picture

definite it and then follow on.

Sun, 10/02/2011 - 20:28 | 1731849 Yogaman
Yogaman's picture

Not a single mention of the Federal Reserve!

Sun, 10/02/2011 - 20:59 | 1731851 ricocyb13
ricocyb13's picture

Let's make money - one of the very best movies. Get the DVD, it`s worth it.

english-language preview:

http://www.youtube.com/watch?v=0tPGt2r6DPE

german-language full movie:

http://www.youtube.com/watch?v=XGdzUbaF6Y0

homepage:

http://www.letsmakemoney.at

http://en.allegrofilm.at/films/lets-make-money

Sun, 10/02/2011 - 20:32 | 1731858 Sizzurp
Sizzurp's picture

Where are the interviews of people who saw the crash coming and warned about it for years? Where are the interviews with hard money economists?  I think this series documented the events and the aftermath, but failed to point out the underlying cause.  Instead of pointing out the fallacy of centrally planned interest rates and fractional reserve banking, we are led to conclude, by a bunch of socialist government types, that the crash was the result of too little regulation, and free market capitalism run amuck.  We have plenty of regulation, and plenty of regulators.  Problem is they are corrupt.  If you want real regulation eliminate 10 multiple fractional reserve banking, institute sound money and real market interest rates.  It's always the leverage that gets us in trouble, and some of these banks were leveraged 20-30:1.

Sun, 10/02/2011 - 20:52 | 1731896 snowball777
snowball777's picture

Fail. We've been deregulating finance for 40 years...there's precious little on the books to say that what happened was in any way illegal.

What's the matter? Didn't like what you asked for once you finally got it?

Sun, 10/02/2011 - 21:15 | 1731943 Yen Cross
Yen Cross's picture

 Yen, has ( ultimate) Respect for [777]   You are the best of the best,?

Sun, 10/02/2011 - 21:24 | 1731962 Nubbin Master
Nubbin Master's picture

Sizzurp,

Right.  There were probably about 30 economists who saw it coming -- out of thousands.  The ones who saw it coming were not all free market guys (e.g., Steve Keen).  At the same time, the Austrians predicted decades ago what would eventually happen when governments manipulate money and credit.  This is not a matter of the amount of regulation .. whether we've been regulating or deregulating.  It's a result of central banking and pure fiat currency, just as Hayek explained.

Mon, 10/03/2011 - 08:37 | 1732487 falak pema
falak pema's picture

The whole political power issue in society is : hegemonic regulatory capture.

In the post industrial revolution world this iconic instrument of power play for capitalist Oligarchs, as  all through the ages, meant controlling the vital money chain. 'Reaganomics' is a particular form of American capitalism fashioned after the welfare state had shown its Keynesian economic limitations,  used to install 'hegemonic regulatory capture of profits', through the bubble 'Fire risk assets' economy, using recurrent financial asset inflation  to generate profits for the 'happy few' tops dogs, exemplary entrepreneurs of supply-side economics, at whose feet the Nation-State grovels.

It was the answer of the Oligarchs of western civilization to the "regulatory state side capture" installed by FDR, when building the Keynesian welfare state model, in the wake of previous private sector regulatory capture of financial assets à la initial, classical capitalist model that exploded in 1929 crash!

Coming back to 'hegemonic regulatory capture' thesis in general, which in essence means saying to your tribe, your people, your nation : We, the elite Oligarchs, are doing it for your general good. (In fact they were doing it for their PRIVATE good and personal perennial power...as per the mantra...All power corrupts and absolute power...). 

So has this been a recurrent theme/human trait in civilization?  Just follow the time line. It is self evident :

1° Caesar took over the Senate, to save the Empire from corruption. It lasted ONE tenure, that of Augustus, who was fair minded and never wore purple as he was PRinceps not Caesar. After that is was downhill as power became totally confiscated by "divine Caesar".

2° The papal church challenged the temporal power in name of theocracy. They used 'god wills it' and the Crusades to assume preeminence. It took the failure of the Crusades and subsequent corruption of the Inquistion to destroy, during Reform/Renaissance tipping point, their regulatory capture on society in name of Idelogical dogma. It is interesting to note that one of the instruments of regulatory capture on society, the sacrement of marriage imposed on all believers, making womankind total legal serf of male population has been totally destroyed since those days of 1215 at Latran IV ecumenical council which was the theocratic apogy of papal power. Every "political/social" decision made during LAtran IV has now been abandoned by the catholic church. Just shows how blatantly biased and self serving were the pronouncements of that papal dictat said in name of God to traverse the ages. (Ostracism of heretics, infidels, jews; sacrement of marriage, initiation of Inquisitorial powers of church, trans-substantiation eucharisty...now considered more symbolic that true transmutation..., downgrading of the schismatic orthodox church). Ironic that last country to make divorce laws legal is Malta in EU in 2011.

The example of the papal church is interesting. As it is the prototype of the FIRST PRIVATE MULTINATIONAL ENTERPRISE SELLING A UNIVERSAL PRODUCT THROUGH ACTIVE PROSELYTISM (SALES PUSH): HOLY CHRISTIAN TRINITY.

The second european private multinational will be a papal offshoot : the Knights Templar; secular cum religious arm to conduct 'just' war and collect money through Banker Trusts. They were the CIA (ideological cleansers) and Wall Street (Banking cartel) of that age.

When they FAILED, in Holy Land and became too powerful at home, they got burnt...by the King AND the POpe, and their FORTUNE was confiscated. They had become a state within the state answerable to no one. Their regulatory capture was considered unacceptable by those who had mandated them in the first place as it threatened the regulatory capture of King and Pope.  So Oligarchic wars are normal. As after having nailed the Templars to the Cross, the same King will nail the Papal church to its prison in Avignon. It'll be the end of Papal hegemony exercised through regulatory capture of people's fear of papal bulls/excommunication. It will herald the secular age of nation state. 

I only bring this up in detail to remind those of the World's second religion, Islam, that they have in store this INEVITABLE and inexorable long trek down secular road, alike that taken by their Christian cousins of that medieval age, while Islam slept. History will repeat, although admittedly, there is no Church/intermediary in Sunnite Islam.

3° The European nation-state will exercise regulatory capture as Machiavelli's treatise so eloquently portrays the role of NEW Prince. Only golden rule : Reason of State is now basis for regulatory capture. The prince can lie, steal, kill, capture foreign lands, colonise vast territories in its name. The nation-state reigns supreme and "reason of state" is essence of european civilization, until it leads to European Armageddon between nation-states, who have become victims of their own sterile xenophobic propoganda, like thieves falling out. 

4° During the American age of capitalism, we have seen the regulatory capture now practiced in name of "free markets", "competitive advantage" and "king dollar" reserve currency; until this current reality of ponzi hyperinflated risk asset financial 'hegemonic regulatory capture', world-wide brings us to the brink of Financial Armageddon of our very capitalist world.

Greece 2012 now looking like the antichamber to a financial meltdown à la Sarajevo 1914's military version.

So.....how do we build a world without a cancerous trend to hegemonic regulatory capture once again by some Oligarchic party or another. Ask Montesquieu or Tocqueville...

To be or not to  be..is still man's existential recurrent paradox. Sisyphus...where are you? Somewhere between Tahrir square and Wall street-Brooklyn bridge?

 

 

Sun, 10/02/2011 - 20:44 | 1731878 Atomizer
Atomizer's picture

 

They want you to beg for the new change. Drilling holes in your boat & watching you sink is meant for conformance to move in the pre-planned direction.

The Trade and Development Report 2011 focuses on the post-crisis policy challenges in the world economy. It concludes that the recovery is slowing down and that the "two-speed recovery" is mainly the result of wide differences in domestic demand. For more information refer to http://www.unctad.org/tdr2011

International Monetary System Reform --9/2011

 

 

Sun, 10/02/2011 - 20:56 | 1731901 Atomizer
Atomizer's picture

Thanks for the (-1) UN scumbag. Wait until they find out how much your tied into fake jobs and the derivatives pie chart.

Sun, 10/02/2011 - 20:55 | 1731899 Cult of Criminality
Mon, 10/03/2011 - 00:35 | 1732287 Hephasteus
Hephasteus's picture

It's really funny how all the blogs and information and links surrounding that movement all need access to the biggest fuck cunt networks on the planet. Bandcon got bought out by the fuck cunts.  It's like when you got to download a hacking tool and you get spammed by time warner and fucking internet consortium this and global ip logging database that.

Sun, 10/02/2011 - 21:02 | 1731913 Zero Govt
Zero Govt's picture

"As one world leader handles the crisis through denial, other leaders try to re-think capitalism."

you cannot re-think capitalism. Period. This un-named delusional twat needs putting in the funny farm.

What is killing employment and productivity (wealth production) is the State, a monopoly institution. The State and its monopoly practices at extreme (USSR and Eastern Europe, China, North Korea et al) first rob the private sector (taxation) then take them over. The State are both ignorant, incompetent and without the competition mechanism found in free markets, fat lazy morons incapable of making profits (excess wealth). Hence their countries go totally stone cold broke.

Western Govts are the exact same retarded ignorant destructive vandalising monopoly institution, producing the exact economically debilitating process of Communists and Fascists, wealth destruction only a train wreck in slower motion than outright State intervention. 

Capitalism is already the perfect formula (rewards competitive productive effort, bankrupts the morons). Everyone operates by its rules including socialists and fascists (who always meet Capitalisms greatest character, The Grim Reaper and go bankrupt). Private sector wealth creation through competitive markets is the only successful path. Corrupt windbags (politicians) fronts for corrupt monopolists (private corporate interests and elite family groups, aka The Establishment) will never produce wealth because these crooks and charlatans are all parasites.

The way to wealth is competition in the private sector. Period. Whereas monopoly institution, the State, has only ever destroyed wealth (via taxation and market intervention). The reason for the unemployment cues growing is the continued growth of Govt in markets, in every facet of business, and destroying wealth creation enterprise and consuming wealth (tax) sucking it out of productive hands and siphoning it into the wasteful destructive State (and its hidden crooks)     

"Even though the causes of the 2008 meltdown are now clear, there is no magic formula to stop it from happening again. The world has to start planning for the next crisis.."

Who is "we"??? 

Is "we" the same monopoly institution thinking itself God that can hand down 1 great decision and some Masterplan to avoid mistakes, corruption and knows it all?

Mistakes, corruption and know-it-alls are the hallmarks of the ignorant retards that ram the gunnels of the State to overflowing. There is no 1 know-it-all, there is no one decision maker, no 1 wise arse who thinks it is God (as the State thinks it is). The State is the biggest failure mechanism on the planet and throughout history.

The State proves a 1 decision body is dumber than mud, is a total failure, is an academic and liberal sham as usual from their heads stuck up their arses. The success through diversity of nature (life) and free competitive markets demonstrates therre is no 1 answer to anything, only covering all bases by having difference, diversity and multi-decision making

The State offers you a Trabbant. The free market offers you 200 models infinitely better than the States sack of garbage on wheels. That is true of every decision the State makes. It is a garbage bin of stupid dumb thinking but in truth more pure corruption by vested interest groups, from big corporate monopolists to extreme minority parties (greens, socialists, health fascists etc). Govt represents the 1% of societies retards against the interests of 99% of society (ie. it is corruption incarnate, see bankrupt bankers bailouts, see smoking bans, see speed limits, see Customs cues at airports etc, etc).

Why don't the meddlers of society and free markets just F off... they and the State has been the biggest social and economic mistake in history and reason why we're now facing a Great Depression down the gun sights.  

Govt is not the answer, it is the f'ing problem

Sun, 10/02/2011 - 23:14 | 1732173 LongBallsShortBrains
LongBallsShortBrains's picture

VERY WELL SAID

+585334578053211347908643679

Mon, 10/03/2011 - 02:39 | 1732373 jomama
jomama's picture

your avatar is a mega-bummer.

Mon, 10/03/2011 - 05:57 | 1732455 falak pema
falak pema's picture

I yam no nut nor nut cracker fan, more a tit fan. But then it takes all types of turnips to make a veg farm. As long as the cucumbers don't pollute our screens, just our women's dreams, I'll stick to cute cups of ice cream and bubbly  chardonnay .

Mon, 10/03/2011 - 03:28 | 1732409 AnAnonymous
AnAnonymous's picture

Govt is not the answer, it is the f'ing problem
//////////////////////////////////////////////////////////////////

The US is not the solution, the US is the problem.

US citizens like to claim they are innovative. So what are they waiting for to show it in their cheap propaganda?

It's been more than 100 years now that the natural outcome of competition has been established as being the consolidation of an oligopoly(in extreme cases, monopoly)

How is it under this light possible for US citizens to claim that monopolies are what is wrong in a competitive environment, 100 years after it was established that oligopolies are the natural result of any competitive process?

Competition is not an everlasting phenonemum. It has a start and an end. It ends when the resources allocated to the competitive process are exhausted.

Once a race is run, meaning that the resources to organize the competitive event are exhausted, the race is not run once again. It is over.

US citizens should stopped coming with cheap propaganda. And show their talent in innovating.

Because competition has been characterized (and many practical applications have been drawn from the characterization) by the 1900s.

Get on the page.

Sun, 10/02/2011 - 21:05 | 1731919 Yield2Greatness
Yield2Greatness's picture

There are lots of aspects to this crisis that I was not aware of.  Nice recap of events.

Sun, 10/02/2011 - 21:07 | 1731924 Atlantis Consigliore
Atlantis Consigliore's picture

Oh Im sorry did I bankrupt your country on purpose,

 

maybe I broke your concentration?  with the stock crash, and the 

 

printing,  im sorry,   pls go ahead...

 

http://www.youtube.com/watch?v=UPHuE5pDlEs&feature=related

Sun, 10/02/2011 - 21:13 | 1731935 Nubbin Master
Nubbin Master's picture

Sizzurp,

You hit that nail square on the head.

Sun, 10/02/2011 - 21:18 | 1731951 Yen Cross
Yen Cross's picture

 Parlay thoughts, like cold war < GENERALS >

 

Sun, 10/02/2011 - 21:46 | 1732004 LookingWithAmazement
LookingWithAmazement's picture

Collapse, finally?

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