<<fiat money
sucks
or better yet, has a BIG design fault
when not backed with a value
to keep it "as is">>
Doug,
LTCM sucked in 1998 and was bailed out by easy Al. Maybe he'll be in position to bail out fiat money too, who knows? The only thing he is not able to to fix any more is peoples trust and confidence in so called miracle of "new economy". Less and less people buying promises, and Investor Dreamland is so psychologically tied up to the index shows, that they are manipulated almost daily, yet still cannot put the good show. No longer than two and a half years ago the companies couldn't hire anybody for cash only. The OPTIONS were the real pay, cash was only pocket money. If the things (derivatives) will not get fixed, (and they will not) the fiat money can expect the fate of the options. I watch the CNBC, as I like to know what my enemy is putting on air. Tuesday evening L.Kudlow was assuring and encouraging people with all his heart and reputation, assisted by Kramer to buy the stocks, that the future lies only in technology, which leads to better productivity. It is true, but on the other hand WHY do we need better productivity when unemployment raising to new highs, wages almost flat, consumer debt skyrocketing? Are we gonna be in better shape if the productivity raise to the level when one man can replace hundred. It will happen some time in the future but cannot happen overnight, not because is impossible from technical point of view, but how the 99 kicked out will buy this one man product. The crisis is here and antiglobalisation movement growing because morons in US forgot that the other countries need the money first to buy American technology. Too keep the commodities from raising, gurus came up with the old derivative system scheme which they blew up out of proportion. Bad feelings when you are in self made TRAP.
Regards,
marek |
