Re: Joy of this, Joy of that

On Mon, 9 Dec 2024, rbowman wrote:

On Mon, 9 Dec 2024 15:58:55 +0000, The Natural Philosopher wrote:
>

"We have shit loads of bad debt that we cant offload"
"Well package it up  with insurance against failure  and sell it as A1
guaranteed debt then"
"But what will happen if the insurance companies can't cover it"
"Oh that will be the government's problem, not ours"

>
I remember an article in the WSJ about the great new idea of creating a
tranche of mortgages likely to fail, peddle the derivatives, and wait for
the failure and subsequent insurance payout.
>
I'm not interested in the stock market or economics in general but I
thought 'this isn't going to end well.'  I thought the same about the 1999
'Financial Services Modernization Act' that removed the Glass-Steagal
controls with the financiers promising they weren't going to do anything
stupid this time.
>
I'm not prescient nor do I claim any expertise in economics, foreign
policy, and so forth but it's depressing how often my personal analysis
proves to be correct versus the 'experts'.
>

I think one reason for this is that you, and I, can often analyze in the comfort of our own homes and we are not public persons.
The glamour experts are often public persons and they thrive in the spot light. That means that they must adapt their analyzes to what sells at the moment.
Then you have the other strategy adopted by Dr Doom who confidently predicts a disaster every year, until he finally is right, and then he is dusted off and paraded through the media, only to then be forgotten for about 6-7 years until he is right again. ;)