European Tribune - Comments - The Future of Economics

The Future of Economics | 191 comments (191 topical, 0 editorial, 0 hidden)

Re: The Future of Economics (none / 0)

I'd be inclined to prosecute them for false advertising if they advertise "attractive rates" and "forget" to tell people that they are putting their money in an account that isn't covered by depositor insurance.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Feb 2nd, 2012 at 05:33:54 PM EST
[ Parent ]

Re: The Future of Economics (none / 0)

Yes, of course they would tell people that the account is not insured, but that is substantially different from what you'd portrayed, where the bank would tell customer X "this is so we can lend to Soros", and customer Y that it is for some other loan.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Thu Feb 2nd, 2012 at 10:20:35 PM EST
[ Parent ]

Re: The Future of Economics (none / 0)

Some people, including orphans and widows, would still put all their money in the accounts and would then proceed to lose all their money. What then... And most of these people would do it because their "financial advisors" told them to.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Fri Feb 3rd, 2012 at 08:14:46 AM EST
[ Parent ]

Re: The Future of Economics (none / 0)

Telling widows and orphans to gamble with their savings would be a violation of the advisor's fiduciary obligations to them, which should make him personally liable for their losses (and there is a case to be made that court awarded compensation should be paid out by the public purse and then collected by the public inkasso).

Oh, and get the financial advisor disbarred from financial advisoring in any official capacity ever again.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Feb 3rd, 2012 at 08:51:37 AM EST
[ Parent ]

Re: The Future of Economics (none / 0)

I'll believe that when I see it.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Fri Feb 3rd, 2012 at 09:14:51 AM EST
[ Parent ]

Re: The Future of Economics (none / 0)

Why are you asking me what then? I'm not suggesting that bank's normal liability management should be restructured so that the accounts that free up reserves are uninsured.

It seems like what is supposed to be a progressive version of the mentarist fantasy that central banks can and should regulate the money supply.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Feb 4th, 2012 at 03:59:38 PM EST
[ Parent ]

The Future of Economics | 191 comments (191 topical, 0 editorial, 0 hidden)

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