'There is no capital left in the world'

iVillage Member
Registered: 08-13-2008
'There is no capital left in the world'
32
Wed, 09-17-2008 - 7:04pm

One shell-shocked senior banker in London said that there was no future left for the traditional investment bank. “The world is on the brink. The market is puking all over us. There’s no capital left in the world,” he said.


http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4776539.ece


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

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iVillage Member
Registered: 03-26-2003
Wed, 09-17-2008 - 7:43pm

So somebody finally said it. There is no capital left in the world. Well, that might be a little of an overstatement, but not much. The monsterous debts Bush and the Republicans have run up have sucked up such a large share of the worlds capital, there is little left.


If it had not been for the outstanding debts of the U.S., there would be no reason for the government socialism that has been going on this week on Wall Street. If the businesses fail, but there was capital, as when WorldCom and Enron failed several years ago, the economic system of the world could simply absorb the loss and go on. But now, there is not enough capital left to cover the loss and go on.


How many years will it take to get out of this mess?

iVillage Member
Registered: 08-13-2008
Wed, 09-17-2008 - 8:25pm

Good question. Right now, it scares me silly. And I adjudicate unemployment compensation cases for a living.


Goddess I hope this is not the beginnings of a full blown depression.


Were it not for the intervention so far we might already be into depression.


But you are right, Republican policy (curb regulation)


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 09-15-2008
Wed, 09-17-2008 - 8:30pm
More tax cuts for billionaires! Immediately! This is our ONLY way out!


But for the present age, which prefers the sign to the thing signified, the copy to the original, representation to reality, appearance to essence.....truth is considered profane, and only illusion sacred. Sacredness
iVillage Member
Registered: 09-15-2008
Wed, 09-17-2008 - 8:52pm
"The monsterous debts Bush and the Republicans have run up have sucked up such a large share of the worlds capital, there is little left.

If it had not been for the outstanding debts of the U.S., there would be no reason for the government socialism that has been going on this week on Wall Street.


How many years will it take to get out of this mess?"


Bush's $1Trillion's nothing compared to the $50 trillion in debt the US owes in social insurance packages...

iVillage Member
Registered: 03-26-2003
Wed, 09-17-2008 - 8:57pm
You have a link for that, I presume?
iVillage Member
Registered: 01-28-2004
Wed, 09-17-2008 - 9:27pm
So how are you going to take it when Obama has to change canoes in the middle of the stream and make tax cuts all the way around to help heal the economy?
iVillage Member
Registered: 08-13-2008
Wed, 09-17-2008 - 10:11pm

The social service figures are anticipated, going forward. The 9 trillion dollar deficit is based on past events. Not comparable. If we didn't have that 9 trillion in debt, the other element would be pretty easy to fix, but that may have been part of the plan all along.


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 08-13-2008
Wed, 09-17-2008 - 10:13pm

This might take more than tax cuts. See who effectively owns AIG in the moment?


We do.


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

iVillage Member
Registered: 01-28-2004
Wed, 09-17-2008 - 10:22pm
And if AIG pulls it together it will be a good investment, as I think that loan is 12%, as I heard on CNBC today.
iVillage Member
Registered: 08-13-2008
Wed, 09-17-2008 - 10:37pm

Long term, absolutely a good investment, beyond the return.


For me, the key in all of this is how the right despises regulation and what it likes to call 'big government.' But what we have seen is that these elements are essential, because capitalism screams for regulation, else it will run to excess and beyond proprietary reason.


I watched through the 1980s onward


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

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