The Economic Crisis in Europe

[Kobi]

Originally Posted by Miss Tick

Actually I was just poking fun at how the US always declares war on inanimate objects like drugs, terror and poverty. I don't actually expect anyone to declare war on Wall St.

Although it would be nice...

I don't expect anything to change at all. There are no restraints being put on these people and there is no intent by our government or our elected officials to ever do so. And clearly no one in Europe is prepared to call the bluff of hedge funds. Nobody is going to put a stop to or some controls on derivatives.

The only change I can see is that, because derivative got a bad name with the people who actually understand the housing market debacle wasn't about some people getting loans they couldn't afford and some people who couldn't pay their mortgages destroying the world's financial system, we won't hear the term derivatives thrown around much anymore. But rest assured they are alive and well and pointed directly at the heart of our financial security. Credit default swaps are derivatives. Very, very dangerous derivatives. And still no restraints in sight.

Dang it Tick. Here I am thinking you had some clandestine plan to help people to regain control of their minds, country and economics. Instead, it was a poignant rhetorical question. Poop. Me bad. Me have doofus moment.

The interesting part of this to me, is these complex,virtually incomprehensible investment instruments were concocted by mathematicians and statisticians who redefined economic possibilities and probabilities to Las Vegas style packages for the masses.

We must find more of these wizards. But, they must be the few with a conscience, whose focus is towards the good of the whole rather than the coffers of the few.

We need Harry Potter, invisibility cloaks, moving maps, hogwarts (Newt doesnt count), and all things magical to reverse the course and the curse.

I must ponder this further while my brain cells are still soaked in the soothing and illuminating nectar of NyQuil.