Maybe it's time to backstop depositors in full, and let bankrupts fail? 1929 is also interesting - let insolvent banks AND their depositors get wiped out. I realize this won't happen in a world owned by Bankers. The problem I have with current solutions - they all tax or seize private wealth, and channel it to corrupt banks that got us in this mess to start with. It's beyond moral hazard. It's robbery by an elite class. I say let them fail. Lets get this depression over with.
Capitalism can't function well without a sound legal system. When lawyers get corrupted, then real societal problems happen. It seems these days illegality is in the eye of the beholder or lobbyist or the government official. I worry more about the common people who have nothing to do with this brinkmanship. As an exercise, image that you had no cash at all for a week and could only access 200 a day (after waiting in line). Credit cards might work and might not, debit cards might work and might not. How long could you hold out? This is very hard on the lower 70%. Starvation brings revolution.
YeaaAAAH! All problems solved, Cyprus is saved and its banks. EURO surges like a rocket, euroland is a sound economy, politics can do wonders with merkel holding magic wand. Lets roll! 1.33 baby later today and 250 pips gap to the downside over the weekend, just to make it harder for these damn speculators
Here we are again....everyone worried if this and that is going to happen to Cyprus, lets just keep it simple... They will get bailed out just like everyone else.... There are zero worries, this is just the same thing over and over and over and over and over and over and over again.....this whole world is being bailed out... BUBBLE ben bernanke is the king of bailouts, as he still throws nearly 100 billion a month in worthless paper at the markets, this has added up to trillions and trillions and trillions of worthless dollars being tossed around to bail out the entire nation, this can only last so long before the system collapses once again!
Sad that only a few people know that the recession still exists in the US today. The US is completely insolvent and no one has a clue about that, they think everything is peaches and cream and pretty rainbows, but one day they will wake up and realize that this entire economy is just make believe. Let me see this economy run without the bailouts and the QE and the tarp and buying of trillions of dollars worth of mortgage backed securities and historical low interest rates, lets see the economy for ONCE just make it on its own without the help of all the worthless dollars being thrown at the economy, just once, I want to see a real economy do its own thing and not have to rely on all this fucking stimulus and worthless paper.
are you folks aware who is REALLY f.... in the a*s by all these bail outs? Chinese !!! who work for $2 a day. western people can do nothing just print, go to the beach or eat candies in unlimited amounts. chinese will supply us with literally everything we need. plus a bunch of hindu, indonesia hard working people... what a beautiful world!
USA insolvent? wooaa, look at those mansions, SUVs, ipads and cities full of skycrapers lots of people are immensly rich with 60 inch tvs, 3000 sqm houses, $500 scarves, $200 jeans, women with 120 pairs of shoes. Look at Las Vegas hotels, New York restaurants, Miami parties, Texas ranches and California tractors. It is Chinese who are in deep sh... with huge amounts of worthless US toilet paper called bonds After all this hard work... their population is still poor...... and simply cannot be rich working for such a wage. Europe is even better since Germany, Sweden, Norway and France can supply whole Europe with everything they need. Lets make Spain, Cyprus, Greece, Portugal their holiday land. Seriosuly, germany will supply cars and software. Sweden furniture, Norway gas and France cheese, wine and military power LOL
Last I read about poverty in the united states was that it was closing in on close to 48 million americans! Once the bubble in china real estate bursts the entire globe will feel it, gpd in china is around 7.5-8% once the bubble deflates and they stop building malls and apartments that no one is using you will see gdp in china drop to below 5%, yes I said 5%, many many many people would laugh at my prediction, but let it be...
"Poverty" in America is subjective... mostly defined by politicos with an agenda. Being "poor" in America often means... comfortable place to live, air conditioned, big-screen TV, subsidized utilities, subsidized food, free cell phone and internet... rather comfortable overall.... just don't have the extra income to afford the lease on a Bentley. Would be considered RICH in other parts of the world. Parasites all, of course, at the expense of the productive.