chickens are roosting
Russell
Phil, ARS, Pif, myself...) were saying the housing market
is overpriced and will collapse, derivatives are financial
smoke and mirrors, CEOs are lining their pockets while
ruining their companies, etc. Now the chickens are
coming home to roost in a huge flock.
Cheers,
Russell
Old Pif
My consideration have always been physics based. Our economy is
functioning near saturation point. The only way to make substantial
bucks is to create a bubble, capitalize on that and run away with
money leaving to the others to sort out the mess. From bubble to
bubble ...
Russell
From http://www.telegraph.co.uk/money/main.jhtml?MLC=/money/city_news&xml=/money/2008/09/16/ccjeff116.xml
"Soon enough we will discover if the core of Western finance is just
an
elaborate Ponzi scheme, underpinned only by new waves of suckers,
or an imperfect but flexible machinery that, despite its flaws, has
the
capacity to withstand shocks."
Stray Dog
On Tue, 16 Sep 2008, Russell wrote:
> Date: Tue, 16 Sep 2008 09:29:32 -0700 (PDT)
> From: Russell <Russell...@wdn.com>
> Newsgroups: sci.research.careers
> Subject: Re: chickens are roosting
You guys have not seen the today's headlines in the WSJ about the decline
and fall of the US financial system. Or, at least the part that deals with
all this fancy-schmantzy crap. The article said that the trend now is to
go back to "old-fashioned" banking (deposits, loans) instead of all this
"structured" stuff. Yeah, that old saw, "first we need to shoot all those
Harvard MBAs" maybe had some truth/validity in it.
And, Hewlet-Packard (also in today's WSJ) is going to lay off 25,000
employees. Yes, 25,000. Howd'ya like them apples?
And, rick++ has always been full of shit, too.
(PS. disclaimer: this post is not meant to indicate any change, promise,
or innuendo wrt my presence on src, but I am elsewhere most of the time).
Old Pif
>
> The article said that the trend now is to
> go back to "old-fashioned" banking (deposits, loans) instead of all this
> "structured" stuff.
>
It is a good start. The next step (might be huge) is to come back to
the "old fashioned" economy based on quality goods and services.
>
> Yeah, that old saw, "first we need to shoot all those
> Harvard MBAs" maybe had some truth/validity in it.
>
Harvardians are notoriously known for enormous destruction power, e.g.
http://www.law.umkc.edu/faculty/projects/ftrials/Simpson/Dershowitz.htm
Lately they switch to destruction of the whole countries:
http://www.timesonline.co.uk/tol/news/world/europe/article4488803.ece
Small for now, but it is just the beginning.
Stray Dog
On Tue, 16 Sep 2008, Old Pif wrote:
> Date: Tue, 16 Sep 2008 16:18:58 -0700 (PDT)
> From: Old Pif <Old...@gmail.com>
> Newsgroups: sci.research.careers
> Subject: Re: chickens are roosting
>
I forgot the other "old saw": all you ever need to know about business can
be learned from reading the Dilbert cartoon strip.
Aging_Recycled_Scientist
Squirrels are stealing the bird food. I suspended one from a long
wire , but the agile beasty hangs by one foot
and opens the lid to get the goods hanging upside down. Got to find a
little clamp to fustrate that thing.
marika
"Old Pif" <Old...@gmail.com> wrote in message
news:b3a31623-e6ef-4be1...@f36g2000hsa.googlegroups.com...
My consideration have always been physics based. Our economy is
functioning near saturation point. The only way to make substantial
bucks is to create a bubble, capitalize on that and run away with
money leaving to the others to sort out the mess. From bubble to
bubble ...
=======
It was the federal reserve and imf jobs to take steps to cool down the
economy
they never took the steps
mk5000
"children - wake up - hold your - mistake up - before they - turn the
summer into dust. - if the children - don't grow up - our bodies get
bigger. but - our hearts get torn up - we're just - a million little
gods causing rain storms - turning every good thing to rust. - i guess
we'll just have to adjust. "--arcade fire
Old Pif
>
> It was the federal reserve and imf jobs to take steps to cool down the
> economy
>
> they never took the steps
>
Taking the steps (whatever they are) makes sense only if the economy
is indeed the bubbly economy. There is no sense whatsoever to cool
down real economy.