Comments | imomus: Post-bubble is a way of life

imomus

Post-bubble is a way of life

Mar 05, 2007 12:19

As anyone who even glances at newspapers will have seen this past week or so, we're in the middle of a "correction" -- big money is being wiped off share values. It's said to have started with rumours that the Chinese government were planning to make a tougher business environment in order to slow down the country's overheated, bubble-style growth ( Read more... )

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finances and flowers anonymous March 5 2007, 11:49:57 UTC

Back in 2001 I visited my pal in the bluegrass state Kentucky. One day on the front porch of his house he showed me two pages of the Louisville gazette. On it, in small characters were listed the names of those louisvillians who had one million dollar or more ( ... )

Re: finances and flowers imomus March 5 2007, 12:00:01 UTC

Hello Rinus! Glad to see you've survived the crash too!

Re: finances and flowers risk1911 March 5 2007, 12:21:34 UTC

but what's money? seems the federal reserve can't even define it.

Alan Greenspan: "We have a problem trying to define exactly what money is. the current definition of money is not sufficient to give us a good means for controlling the money supply."

Congressman Paul asked "Well, if you can't define money, how can you
control the monetary system?"

Greenspan replied "That's the problem."

Re: finances and flowers anonymous March 5 2007, 12:44:02 UTC

Bring back arguing how many sheep are worth a cow? Capitalism is the glorious mechanism to overcome the tiresome burden of haggle and interaction - for ayone wishing to live on more than seeds! Enjoy the rollercoaster, brothers and sisters, the market gets paranoid so you don't have to be. Wheeeeeee.

Re: finances and flowers risk1911 March 5 2007, 12:53:01 UTC

this "correction" certainly won't last for very much longer. money supply growth in the last 12 months...

UK M4 is up 13%
Eurozone M3 is up 10.6%
China M2 is up 15.9%
South Korea M3 is up 10.6%
Australia's M3 is up 13%
Russia's M2 is up 48%.

lots of liquidity in the market to squelch it.

Re: finances and flowers zzberlin March 5 2007, 17:55:28 UTC

No, there's nothing wrong with capitalism, in theory, there's nothing wrong with it, only hippies dislike the free market.

I'm a big believer in the merits of capitalism. What's better? Please don't say european socialism, I'll turn my nose up at that, thanks, the U.S.. system is better.

What's wrong with the U.S. now is not its economic system, it's fat apathy and poor leadership. But Obama will fix that. I don't give two shits about politics and I'm holding a fund raiser for him this summer. If he can get me, a tried and true political nihilist, interested in U.S. politics, he can do magic.

Re: finances and flowers zzberlin March 5 2007, 17:37:45 UTC

<< I realized then, that, Louisville being a small american town with hardly one million inhabitants, this list could fill weeks and weeks of newspapers, if all the millionaires in the world were listed on it. I wondered what would happen if all of them decided to go to the bank to ask for their money in cash? I think, there is not so much money. And from this I concluded that a financial crash is a world wide illusion. >>

Why Louisville? I grew up there. It has an industrial beauty but the air has some problems.

Re: finances and flowers anonymous March 5 2007, 19:24:31 UTC

because i happened to be there, and it was the local newspaper.

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