Re: Joy of this, Joy of that

On 09/12/2024 22:23, rbowman wrote:

'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.
 

Indeed. I was peripherally interested. For reasons I wont go into here.
All the signs were of a major crash, but in the end only Lehman went to the wall and here Arthur Andersen, crooks of the first order.
The world has been bumbling along on fantasy finance ever since.
Taking on debt that will never be repaid
We need a world war to wipe some slates clean frankly

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'.

Wood and trees mate. You are nicely distant and can take objective views.
--
For every complex problem there is an answer that is clear, simple, and wrong.
H.L.Mencken