donnie
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Nike Leka i Kelmendit
Posts: 3,389
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Post by donnie on Sept 30, 2010 15:36:43 GMT -5
Interesting video on the next financial crisis!
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Post by Caslav Klonimirovic on Sept 30, 2010 22:28:43 GMT -5
Personal dept is a fool proof way to trap and control people.
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Post by Caslav Klonimirovic on Sept 30, 2010 22:36:59 GMT -5
I looked up that Gerald Celente guy... looks like his predictions have been pretty good. Check out some of the other ones.
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donnie
Senior Moderator
Nike Leka i Kelmendit
Posts: 3,389
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Post by donnie on Oct 1, 2010 14:29:21 GMT -5
Yeh, he seems very knowledgeable.
In this case it was the lenders who were foolish. Shere unregulated greed went overboard, lending loans to people who couldnt pay back (subprime mortgages) set off the cataclysm that would spread like a forest fire over the world. There is an interesting article related to the subject, written by Martin Wolf about what lesson should be drawn from the collapse of the Lehman brothers. It relates to this video. It basically says the bailouts wernt wrong, because they achieved their purpose in stopping panic and further great institutions from collapsing. But it will have been for nothing if we do not change the system. If ppl are assured by the bailouts and conclude that we can return to the previous state of things and rely on governments to save the day when things get heated, a coming crisis is probable, and states already buried in debts will not be able to inject more bailouts into the veins of the financial system.
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