error in pushing debt around

NUKE ROCKY44 · Senior Member

error in pushing debt around

GoogleNaut · Guru

Nice one--I like it. Although-- >yuk!< I guess I'm the dude in the first panel!

My cousin Raplh sent me a link to a New York Times Op-Ed written by Michael Lewis and David Einhorn which was pretty startlingly honest about this whole global financial mess. Basically, the blame is ours (US of A!) The Securities Exchange Commission was not complacent, it was complicit with the gross fraud perpetuated against investors, not just US but globally. It is without a doubt the largest wholesale theft of money in history, rivalling by atleast two orders of magnitude anything that the NAZI's stole in gold in WWII. Anyways, its an interesting read.

http://www.nytimes.com/2009/01/04/opinion/04lewiseinhorn.html?_r=2&em

NUKE ROCKY44 · Senior Member

"The hasty crisis-to-crisis policy decision-making lacks coherence for the obvious reason that it is more or less driven by a desire to please the stock market. The Treasury, the Federal Reserve and the S.E.C. all seem to view propping up stock prices as a critical part of their mission -indeed, the Federal Reserve sometimes seems more concerned than the average Wall Street trader with the markets day-to-day movements. If the policies are sound, the stock market will eventually learn to take care of itself."

This is what's going on now.

Gov't won't rectify this the same mistakes are continuing to be played out they seem in my opinion to be making the problem worse.

NUKE ROCKY44 · Senior Member

"Shadow Government Statistics Analysis Behind and Beyond Government Economic Reporting."

Interesting site on reporting economic performance using other techniques.

[link]