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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (91486)	6/14/2012 7:15:55 AM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 217620

Hawk, can't bubbles just deflate as people give up on the speculative excesses and irrational exuberance? In recent times, we have had the Biotelecosmictechdot.com collapse, which did not result in systemic failure. The market cleared gradually as people went bust and businesses were closed or absorbed into others or shrank to fit their customers, or boomed as they continued to excel. With the housing irrational exuberance, the peak was 5 years ago and there have been many millions of houses cleared, debts wiped, and market repositioned to a more sensible proportion. Many major companies such as Fannie, Freddie, Lehman, have been wiped out and others substantially repaired. The major bubble still to be dealt with is Big Brother Megalomania. Around the world, using opm from the speculative bubbles, governments boomed into behemoths. Now they are out of opm as producers are shriveled and speculative gains and taxes on interest have vanished. Meanwhile, pension promises and other welfare expectations are being dashed as more sources of opm are not available. I really couldn't care less if government people lose their pensions. I feel no obligation to make payments to them. I didn't vote for them to have lifelong sinecures followed by decades of profligate pension payments. They spend their "working" careers harassing me then think I'm going to want to pay for their aged indolence. Greeks are about to tell their creditors to get lost and so they should do. Haim might not like it, but those who don't want slaves to rebel should consider not keeping slaves in the first place. Complaining when the slaves riot and rampage is a bit silly. The creditors of Greece threaten to pull the plug on propping up the government, but regular Greeks can happily ignore that threat. I had to provide for myself so I don't see why government "workers" can't do the same instead of expecting taxpayers to hand over loads of loot for decades. Government workers would say "But we had a deal". True, they did have a deal. Too bad. Anyone taking promises from politicians to confiscate opm to pay said deal should have thought more carefully about who they thought they were going to be getting the money from. Saddam had a deal to repay Russian loans. When the USA and Co conquered Iraq, the remaining Iraqis decided they didn't wish to honour Saddam's debts. Sensibly so. Before the USA civil war, there were no doubt creditors who had loaned heaps to cotton farmers who used slaves to pick cotton. After the civil war and when slaves were no longer working for no pay, those creditors were not repaid. Expecting the slaves to honour the debts is a bit on the foolish side. Sensibly, the slaves deny the debt. Governments are the modern day slave drivers. We the state serfs don't even have personal title to our share of the government assets, so there's no reason we should be expected to repay the loans. Deny the public debts. Mqurice