The whole foundation of what is said in the "Crisis In Capitalism" video is faulty b/c it calls the bailouts and actions of central banks "capitalism". Not an honest way to suggest Marxist socialism as a possible replacement IMO.
The Fed's stance is that stimulating new bubbles, one after another, is sustainable. More people are hurt and less are helped each time around for sure - but this stance is what has me worry over a collapse in the dollar.
Major financial institutions' influence on our political system is broadly accepted, but not enough emphasis is put on the efficiency in which major steps in deregulation and leverage are carried out systematically in both Dem and GOP administrations, IMO.
The Fed has joined in the lobbing efforts since at least 1999 - being composed of a cartel of private banks to which we pay interest to for the duty of printing the national currency. I think if the wrong private banks fail the USD might fail by default in this arangement.
My parent's once upper-middle class nest egg was about 10% the original size when finally removed from the handling of a full service financial advisor working for one of the larger financial institutions. I am convinced they are largely sales people for the companies' broader strategy.
What led me to start trading stocks at 21 was frustration over recommending large stakes in WYNN, SIRI and RHAT in our annual family meeting and being smugly talked down to and the picks rejected. The picks were up around 200%, 240% and 300% within 12 months. Didn't even start out buying on margin when trading because I had no exposure from it having been done for my parents.
"Be right and sit tight." - Jesse Livermore
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They managed to grab some really great interviews, not sure how So now the job is simply to educate more Americans to what happened, and try to reform the industry. Here's hoping.
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To be frank, I'm not at all interested in the labels we have been given through history.
One way or another, all the "isms" seem to be essentially the same thing by a different name, but that's just a very broad
I found the "Crisis In Capitalism" interesting mostly for its description of the order of events.
Here a 3 part series;
"All Watched Over by Machines of Loving Grace"
Giving an interesting look at how certain key figures may have been influenced or at least giving us some insight into their thought process and the origins of fairly recent policies.
Part 1, reminds us of the way the IMF dealt with things from the 1970's onwards.
It all seems like deja vue.
I'd largely lost site of the Eastern European revolutions, and they too seem a similar reminder of whats happening now.
Hope its of interest:
Every moment I wake up I realize I know nothing, and then I smile...
Last edited by zt379; June 7th, 2011 at 04:47 PM.
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