thought for the day... again... capitalism? dying? dead?

[The Nal]

it's that same interview again..

what gets me is, how - on any level imaginable - is this allowed?

It's like selling dead bodies in the middle of a war

or worse

[eFestivals]

it's that same interview again..

amusingly, the BBC has had to put out a statement defending that interview, because so many people wouldn't believe he's a genuine financial trader.

[Ed209]

amusingly, the BBC has had to put out a statement defending that interview, because so many people wouldn't believe he's a genuine financial trader.

[Ed209]

Brave New World.

There's loads really. It depends how allegorical you want the story to be. Some people need something direct, while others need something more profound.

[Ed209]

Fooled by randomness by Nassim Nicholas Taleb

This book will change the way you think about business and the world. It is all about luck: more precisely, how we perceive luck in our personal and professional experiences. Nowhere is this more obvious than in the markets we hear an entrepreneur has vision or a trader is talented , but all too often their performance is down to chance rather than skill. It is only because we fail to understand probability that we continue to believe events are non-random, finding reasons where none exist.

[eFestivals]

"Trader was not a hoaxer, says BBC"

http://www.bbc.co.uk/news/business-15078419

[Ed209]

"Trader was not a hoaxer, says BBC"

http://www.bbc.co.uk...siness-15078419

[eFestivals]

OK, thanks for these. I'll check 'em out. Think he needs something on the more profound side of things

I'd say that Brave New World isn't a relevant read for this subject. It's naff all to do with finance, and the only broadening it'd do of any sort of already-informed mind would be to pointlessly scare someone off any idea of any change.

[eFestivals]

Wasn't doubting it. I just find it bizarre that people are shocked by this.

He's just saying what all of them are thinking. Its perfect for him though, its all part of his own personal plan. Spreading fear, upon which he benefits. The BBC have just given him a platform for doing it.

I'm not sure that exclusively "spreading fear" is his plan. He can profit from ups or downs - tho of course it's the case that the bigger the shift in the markets the more he profits.

I took it as nothing more than him saying that where there's an opportunity he'll take it.

[abdoujaparov]

It was a comment about the status of your families stability... Which still stands... The details are some what by the by put if you felt I painted you has a kept women and you aren't then fair enough, sorry... That is the impression I was given by your husband... Your husband has jumped to more conclusions than I have during this debate

[Purple Monkey]

Watch this, it's fascinating. It's pretty much about this guy who's prototyped some of the core aspects of the likes of the Venus Project in a meaningful, Year One sort of manner. I kinda know which of you will appreciate it and which of you won't even fucking bother reading this sentence and will continue to live in cloud-cuckoo land, but here you go.

[worm]

He's actually read that book, and Black Swan (as have I). They're great books. They've been doing the rounds in the city for a while. Didn't change anything though, a lot of them are mathematicians/statisticians so they know the deal already

[Purple Monkey]

This looks very interesting. Again, I'm sure the people that need to see this won't even bother watching a 2 minute trailer let alone the whole thing.

[eFestivals]

So .... when exactly did the govts of the world sign their power over to the money men?

In previous financial crisis's within my lifetime, the govts of the world have taken a stance where the money men don't necessarily have everything fall their way, with the govts taking the view that just because the markets might want something it doesn't mean they necessarily get it. The govts were the ones ultimately in charge and not the money men.

It struck me yesterday that nothing at all like this is happening this time around. The money men are fully in charge, and no govt is challenging them. And the result is that the money men are running off with a fortune while the rest of us pick up the tab.

Even today, Tesco have announced an increase in profits of over 6%, but the story is being reported as "Tesco sales fall", as tho it's something we should be scared of and that it's a symptom of something scary. Their sales have fallen because they're taking the piss with their prices, as that increase in profits gets to show.

Who rules the world? One day soon this is going to change.

[worm]

I'd say that Brave New World isn't a relevant read for this subject. It's naff all to do with finance, and the only broadening it'd do of any sort of already-informed mind would be to pointlessly scare someone off any idea of any change.

[eFestivals]

Well, money has been eliminated due to the collapse of capitalism and a completely new value system has emerged to replace it. I think it's relevant to consider the alternatives to capitalism in light of the current situation. What will become the main efficies of value and progress when freedom and consumerism is replaced by a system of 'true human value'? What is it that reproduces human kind in a post-capitalist state?

Oh, sorry, I'd misunderstood you yet again, and had made the grave mistake that you'd wanted to inform someone of something useful and not pointless.

I'm surprised that you didn't go your most usual propagandist route and say again with a straight face that Hitler was a socialist.

"true human value"? Cor, I wonder how capitalism works then.

The solutions are only as good as the thinking behind them. On your word, we're fucked.

[worm]

Oh, sorry, I'd misunderstood you yet again, and had made the grave mistake that you'd wanted to inform someone of something useful and not pointless.

I'm surprised that you didn't go your most usual propagandist route and say again with a straight face that Hitler was a socialist.

"true human value"? Cor, I wonder how capitalism works then.

The solutions are only as good as the thinking behind them. On your word, we're fucked.

[eFestivals]

Alternatively, the person could just read the book and make up their own mind.

they could. Or they could consider the two opposing views on how worthwhile a read it is within the asked-for context, and make their decision from that.

It might surprise you to know it, but people are entitled to make a decision on the information available to them - and the more information they have to hand the more chance they have of making the right decision for them.

I said that Hitler was a socialist, eh? That's a nice revision of the past based upon what you wanted to0 take from it.

PMSL - you posted it countless times, using only the laughably spurious idea that he was a socialist because his party name had 'socialist' within it.

The revisionism is all yours. I'm normally crap at remembering jokes, but I don't forget the ones that make me laugh the loudest.

With political insight as deep and meaningful as yours, the human race has a bright future.

[5co77ie]

Well, money has been eliminated due to the collapse of capitalism and a completely new value system has emerged to replace it. I think it's relevant to consider the alternatives to capitalism in light of the current situation. What will become the main efficies of value and progress when freedom and consumerism is replaced by a system of 'true human value'? What is it that reproduces human kind in a post-capitalist state?

[5co77ie]

Cameron has made a u-turn on his speech.

David Cameron has been forced into a hasty rewrite of his speech to the Conservative conference after a key passage was interpreted as a call for the nation's households to pay off their credit card debts.

Early drafts of the speech circulated on Tuesday night indicated that the Prime Minister would say that solving the debt crisis would require "households - all of us - paying off the credit card and store card bills".

The comment sparked concern among retailers and economists, with the British Retail Consortium warning that urging people to "retrench" was "at odds with promoting growth".

The Institute for Public Policy Research think-tank said that if consumers took the PM at his word, the UK economy would be "in real trouble", shrinking significantly over the years to come.

Aides said that Mr Cameron had not intended his words to be seen as a call to action, but to describe a process that was already under way as households seek to manage their finances carefully during tough economic times.

He has rewritten the passage to say that the country has been suffering from a debt crisis and "that's why households are paying down their credit card and store card bills".

[worm]

I don't think you will find all the money markets of the world are all in decline - China, India, Russia, and some South American economies are not flagging these will be more interested in reforming the global financial system to something more akin to their own rather than a completely new value system - their value systems aren't new, and we all know the pitfalls involved in them.

Edited October 5, 2011 by worm

[worm]

they could. Or they could consider the two opposing views on how worthwhile a read it is within the asked-for context, and make their decision from that.

It might surprise you to know it, but people are entitled to make a decision on the information available to them - and the more information they have to hand the more chance they have of making the right decision for them.

[eFestivals]

eh? Where's an example of a country where the material value system is removed?

[eFestivals]

So the banks have been gifted another £75Bn in exchange for worthless bits of paper, from a govt who declared how wrong it was when the last govt did similar.

And Dave Moron is trying to suggest that the 'current crisis' is nothing to do with his govts policy of cuts, despite the fact that a large part of the crisis is driven by the lack of growth caused by those cuts in just the way he was warned would happen but claimed wouldn't happen - after all, nothing of the 'current crisis' has yet hit what happens with spending on the streets.

[kaosmark2]

So the banks have been gifted another £75Bn in exchange for worthless bits of paper, from a govt who declared how wrong it was when the last govt did similar.

And Dave Moron is trying to suggest that the 'current crisis' is nothing to do with his govts policy of cuts, despite the fact that a large part of the crisis is driven by the lack of growth caused by those cuts in just the way he was warned would happen but claimed wouldn't happen - after all, nothing of the 'current crisis' has yet hit what happens with spending on the streets.