Jump to content



Photo

possibly insignificant news


  • Please log in to reply
14 replies to this topic

#1 greenie

greenie

    Member

  • Traders-Talk ~
  • 3,184 posts

Posted 03 February 2007 - 10:39 PM

A small bank failed somewhere in Pennsylvania:

http://www.fdic.gov/...opolitansb.html
It is not the doing that is difficult, but the knowing


It's the illiquidity, stupid !

#2 greenie

greenie

    Member

  • Traders-Talk ~
  • 3,184 posts

Posted 03 February 2007 - 10:55 PM

A small country is on the verge of default:

http://www.forbes.co.../ap3387781.html
It is not the doing that is difficult, but the knowing


It's the illiquidity, stupid !

#3 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 10,144 posts

Posted 03 February 2007 - 11:28 PM

A small bank failed somewhere in Pennsylvania:

Yes, Metropolitan, a one bank branch and probably bad loans. It happens.

A small country is on the verge of default:

Yes, Tightrope pointed this out already, Ecuador, a small socialist country with close ties to other radical socialist/communist countries like Venezuela. Means nothing really...95% of the population is poor and are stifled by dictators acting as presidents. GDP around zero as these same politicians force the people to work for their flamboyant arrogant life styles.

Just another example have how socialism never works.

As far as the IMF is concerned, they'll never learn.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

Technical Watch Subscriptions



 


#4 James Quillian

James Quillian

    Member

  • Traders-Talk User
  • 1,364 posts

Posted 04 February 2007 - 12:28 AM

Just another example have how socialism never works.

Thats right.
Many things that governments try never work. For example, democracy never works.
Democracy corrupts free markets. Socialism is a natural outgrowth of democracy. When physical coercion is used to implement socialism, the poor steal from the rich.
When democracy is used a different brand of socialism results. The rich steal from the poor.

#5 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,504 posts

Posted 04 February 2007 - 12:43 AM

Ecuador followed an expansionary monetary policy based on the resource exports (oil, bananas and shrimp) that got hit three times by the El Nino of 1997 and the crash of the oil prices to 10 bucks a barrel in 1998. No country as inflated as this one could recover easily when all of their economic sectors collapsed at the same time... If IMF comes into their town, they will not invest on the silicon chips development and prosper all of a sudden, it just doesn't matter. IMF will only secure their oil exports by creating more long term debt in the country where no last 3 presidents managed to finish their full term. People are afraid of the debt there and that's exactly what IMF would probably ask them to do, I am not surprised by the decision with the oil prices as high as they've been lately... - kisa

#6 arbman

arbman

    Quant

  • Traders-Talk User
  • 19,504 posts

Posted 04 February 2007 - 12:56 AM

When democracy is used a different brand of socialism results. The rich steal from the poor.


I am in favor of this, then the other way around since it helps the economies become more efficient, I would tax the rich though for the same reason. I believe especially the smaller countries must keep a certain level of economic net under the society so that there is enough opportunity for everyone, it is an utopia, but at least you would not get any riots and everyone would get a chance and try hard to move up...

US is an exception for the capitalism model since it always enjoyed the cheap resources domestically to develop very diversely in its industrial structure and internationally by its military power later on. It would be very unrealistic to expect the small countries to follow the exact footprints of the US, these countries usually can not diversify their economies to become competetive enough internationally...

- kisa

#7 libs

libs

    Member

  • Traders-Talk User
  • 258 posts

Posted 04 February 2007 - 03:03 AM

Yes, Tightrope pointed this out already, Ecuador, a small socialist country with close ties to other radical socialist/communist countries like Venezuela. Means nothing really...95% of the population is poor and are stifled by dictators acting as presidents. GDP around zero as these same politicians force the people to work for their flamboyant arrogant life styles.

Just another example have how socialism never works.

As far as the IMF is concerned, they'll never learn.

Fib


Seriously. EDUCATE yourself. I mean this nicely. The US created Ecuadors enslavement to debt to steal its resources. Its a fact.

Here, try John Perkins. You can't get better credentials.
http://video.google....n perkins&hl=en
watch the first three of the VFP conference. It will blow you away. No Joke. He discusses Ecuador at length somewhere amogst it.

#8 da_cheif

da_cheif

    Member

  • Traders-Talk User
  • 10,960 posts

Posted 04 February 2007 - 09:12 AM

Just another example have how socialism never works.

Thats right.
Many things that governments try never work. For example, democracy never works.
Democracy corrupts free markets. Socialism is a natural outgrowth of democracy. When physical coercion is used to implement socialism, the poor steal from the rich.
When democracy is used a different brand of socialism results. The rich steal from the poor.

with out the rich you would have no poor.....without the poor you would have no rich.......without either you have socialism.......and a sewer......

#9 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 10,144 posts

Posted 04 February 2007 - 10:00 AM

Seriously. EDUCATE yourself. I mean this nicely. The US created Ecuadors enslavement to debt to steal its resources. Its a fact.

Why is it when someone has an opinion about something that goes against what someone believes to be the absolute truth that they are either uneducated about the facts, belittled. or are told to shut up?

Believe me when I tell you I have read both sides of any or all arguments, and more importantly, know the history that has led us to any or all current events. Human history has shown many atrocities towards many people. You and I can not change this. Nor can we live in the past. It is what it is. We can only work with what we have in the here and now and move forward.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

Technical Watch Subscriptions



 


#10 jawndissedi

jawndissedi

    Member

  • Traders-Talk User
  • 1,018 posts

Posted 04 February 2007 - 12:58 PM

Believe me when I tell you I have read both sides of any or all arguments, and more importantly, know the history that has led us to any or all current events.


I have read some galactically foolish statements on this board, but this is the first time I've actually seen a poster claiming to be omniscient.

ROTFLMAO!
Da nile is more than a river in Egypt.