Generational Perspective on Financial Collapse

Few folks seem to have a handle on how the CRA lead to the financial collapse of 2008. These folks “get it”, and more.

“Generation Zero”. A huge amount of clue in 1 1/2 hours:

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About E.M.Smith

A technical managerial sort interested in things from Stonehenge to computer science. My present "hot buttons' are the mythology of Climate Change and ancient metrology; but things change...
This entry was posted in Economics - Trading - and Money, Political Current Events. Bookmark the permalink.

11 Responses to Generational Perspective on Financial Collapse

  1. Zeke says:

    Boomer economics
    –The nationalization of risk, the privatization of profit.
    –No moral hazard for risky and bad investments
    –Top five banks lobby for a raise in leverage from 1:10 to 1:40, and get it.

    Well if you have to put it that way, of course it sounds bad…

    Great Steve Bannon documentary.

  2. philjourdan says:

    It seems to be less a generational issue (although a good case is made) than a philosophical one. The left refuses to acknowledge that their actions can lead to bad results. Because they always couch their actions in “good intentions”, so when things go south, it must be some kind of conspiracy. They reject facts that do not fit into that narrative.

  3. beththeserf says:

    Re E.M.’s list
    Having skin in the game.
    Living by Hammurabi Rules.
    Democracy versus Globalism.
    Science versus scientism.
    Humans versus economists.
    Walking the walk versus talking the talk.

  4. E.M.Smith says:

    @Beth:

    I’d only change your list to “Keynesian Economists” as the Austrian School “gets it”… (and are much vilified by the 97% of economists who are not Austrian / Chicago School…)

    I am an Economist by training, BTW, but I like to refer to myself as “A recovering Keynesian”. I came to the Austrian School after graduation (though we did have some coverage of the related Chicago School, it wasn’t much) and had the good fortune to be able to parrot what was expected to those professors who needed that, while being more skeptical with those with an open mind (they still existed then – and that’s how the Chicago School discussion happened. Milton Friedman and all…)

    So in terms of general usage, yeah, it’s most of Economists, so you are not wrong… but sorting out the Austrians would make you “more right” ;-)

    https://mises.org/about-mises/what-austrian-economics
    https://en.wikipedia.org/wiki/Chicago_school_of_economics

    Basically, “We’re not all broken, just most of us”…

  5. Oliver K. Manuel says:

    The system is badly broken, destroyed by the selfishness that is in each of us. The US NAS (National Academy of Sciences) will have to be stripped of all authority to review programs and budgets of federal research agencies for Trump to drain the swamp around Washington DC:

    https://jonrappoport.wordpress.com/2017/05/12/the-matrix-revealed-victimized-inspired/#comment-225004

  6. beththeserf says:

    Yer right E.M. And here I was forgetting Schumpeter!
    Over-generalizing serf- back ter the turnip fields!.

  7. Larry Ledwick says:
  8. Larry Ledwick says:

    Some more data on the pending brick wall of interest payments and entitlement spending sucking up all revenue.
    I have tried to raise this issue with several people over recent years, but they literally refuse to accept or comprehend the facts.

    They always come back with some nonsense “solution” like raise taxes on the wealthy, or cut defense spending when they both would hardly make a dent in the balance sheet. They simply cannot get their head around the power of big numbers and exponential growth as interest rates rise.

    It is like trying to explain snow and an avalanche to a native of the amazon jungle.

    http://www.heritage.org/taxes/commentary/where-do-your-tax-dollars-go

  9. Larry Ledwick says:

    The process of slowly nudging populations toward a future they would never accept if it was offered as a ballot proposal.

    http://canadafreepress.com/article/agenda-21-2030-and-sustainable-development

  10. Larry Ledwick says:

    Not satisfied with their current level of insolvency, California takes a running leap into a huge sink hole.

    https://townhall.com/tipsheet/guybenson/2017/05/23/surprise-californias-singlepayer-healthcare-plan-would-cost-400-billionper-year-n2330456

  11. Larry Ledwick says:

    Under the category of regulations and bureaucrats gone wild we have a farmer who is being fined up to 2.8 million dollars for plowing his field, without a permit.

    http://freebeacon.com/issues/farmer-faces-2-8-million-fine-plowing-field/

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