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Have you been using [Frank's Crystal Ball of Doom™ Technology] ?

Which is not to say that I disagree -at least to an extent.

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

by Cyrille (cyrillev domain yahoo.fr) on Sat Sep 27th, 2008 at 07:08:33 AM EST
[ Parent ]
When people like Bush start using phrases like "economic 9/11", worst economic crises since the Great Depression, etc. you can take it that a degree of alarm is widespread within the system, and often more extreme in the case of those in the know.  Banks have stopped lending to each other precisely because all trust and confidence has broken down.  When the largest bank failure in history (Washington Mutual) is but one item amongst many on a daily news cycle you know there are some problems around - and you shouldn't need me to tell you so!!!.

Vote McCain for war without gain
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sat Sep 27th, 2008 at 07:24:16 AM EST
[ Parent ]
Oh, I know the system is collapsing. It leads me to heated discussions with some colleagues who tend to ridicule me for mentioning it.

On the other hand, we have a couple of silver linings.
One is that quite a lot of the non-financial economy is holding reasonably well in a lot of the world. I don't know about USA all that much (don't feel like going as long as they spread paranoia at the airport), but a lot of activity is pretty much business as usual in Europe.

The other, main one, is that there is a ready plan for the crisis, which has been discussed here repeatedly. And, unlike in the 30s, it's highly unlikely that a lot of the economy will be directed towards a global war.
Now, will this plan see the day? I don't know. USA have taught me to be pessimistic. But can I just state that everyone will starve? I don't think so. A sustainable development Marshall plan would do wonders.

It's a major crisis, but I'm still more far concerned by environmental degradation, water depletion and global warming than by the financial system collapse.

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

by Cyrille (cyrillev domain yahoo.fr) on Sat Sep 27th, 2008 at 08:59:46 AM EST
[ Parent ]
If this is an economic 911, does that make Bush the terrorist pilot aiming at World Trade?
by Andhakari on Sat Sep 27th, 2008 at 09:38:25 AM EST
[ Parent ]
No, but it means that he allowed two disasters to happen on his watch, and this time he was a major contributor to it happening

Vote McCain for war without gain
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Sat Sep 27th, 2008 at 10:05:08 AM EST
[ Parent ]

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