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Are these writers not embarrassed? They write these insipid articles as if we just woke from our opiate, incapable of remembering the GreedyBastardTechTM crisis of 8 or 9 years ago and the GreedyBastardS&LTM crisis from 8 or 9 years before that, and what was before that which we had to slow thru, that thing with Bush I that was stagnation for growing companies (at least it taught me how to game the system to prepare ourselves for the next one) and what GreedyBastardWarTM was before that...was it Reagan's destruction of the last few things that we held good at the alter of his puppet masters greed and wasn't capitalism failing (Beat Inflation Now; We don't take gold anymore, sorry) for Nixon until we found the right material for a stake to put in his heart so that would actually take him out of our misery.

That's the extent of what I've witnessed in my life in business, but certainly there were other failures of capitalism before that and after That GreatOne. And I have seen lists that show that the trend is similar from after the American Civil War through to then.

Now, I'm not a CentralControl person, for we have proved that we don't have the algorithms for that either, but what is it about capitalism that it gets revered? when most of us are only a few generations from being out of the freaking mines? Maybe because it accommodates more GreedyBastardsTM per capital suck, and more variations on GreedyBastardTechnologyTM.

It doesn't work!!! It needs to get bailed out!!!! Often!!!!

Admit to the need and build the bail-outs into the system, or neuter the greedy bastards who continuously make it go wrong, or declare the greedy bastard of the year as winner, reset the capital clock and start a new game so we don't have to let it get out of hand and destroy people future and daily lives.

</rant>

Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Fri Oct 10th, 2008 at 07:54:28 AM EST
[ Parent ]
"Journalists" under 40 would likely have no personal memory of the S & L crisis and if they were properly indoctrinated in economics courses in college....

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 10th, 2008 at 10:28:36 AM EST
[ Parent ]
The Evening standard had a whole page the other day where they interviewed City traders about the British bailout plan. The piece introduced them as all "male, under 40" and "too young to remember Black Tuesday of 1987".

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Oct 10th, 2008 at 10:32:12 AM EST
[ Parent ]
How about the Evening Standard's interviewer and the author of the article?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 10th, 2008 at 10:59:02 AM EST
[ Parent ]
40's not the benchmark.

I'm 32 and I remember Black Tuesday very well.

"The womb that spawned that thing is fertile yet"

by Cyrille (cyrillev domain yahoo.fr) on Fri Oct 10th, 2008 at 11:17:33 AM EST
[ Parent ]
So do I, but we were too young to be traders in 1987, weren't we?

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Fri Oct 10th, 2008 at 11:19:31 AM EST
[ Parent ]
Indeed.

But it is a pity if people are only influenced by their work experience.
It would mean a total inability to learn from history, for a start.

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi

by Cyrille (cyrillev domain yahoo.fr) on Sat Oct 11th, 2008 at 12:52:44 PM EST
[ Parent ]

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