Something quite sinister about the global financial crisis

[AtW]

Capitalism does not reward failure, unless you're a bank.

Or a politician.

[jamesbrown]

More and more I'm seeing mention in the media of how the gap between the rich (the 1%) and the rest of us (the 99%) is wider than ever. Even today I saw a tv news channel talking about how wages in Germany (supposedly the strongest economy in Europe) are really low with many jobs hardly paying enough to live on.

Seems to be the case that the global financial crisis of the last few years has actually been a bonanza for the rich, and a crisis only for the rest of us. Why are we tolerating this?

Welcome to QE. The rich have assets.

[DodgyAgent]

More and more I'm seeing mention in the media of how the gap between the rich (the 1%) and the rest of us (the 99%) is wider than ever. Even today I saw a tv news channel talking about how wages in Germany (supposedly the strongest economy in Europe) are really low with many jobs hardly paying enough to live on.

Seems to be the case that the global financial crisis of the last few years has actually been a bonanza for the rich, and a crisis only for the rest of us. Why are we tolerating this?

I think before you start playing that game you might like to look closely at where contractors earnings sit in the pecking order of wealth.

[DodgyAgent]

I believe the deperession of the 30s was caused by an imbalance between rich and poor. Its the only way the rich can be cut back to the right size.

It was due to happen again in 2008 but the rescue of the banks and QE have postponed the inevitable.

I hope you count yourself as rich.
I would thought that instead of allowing our envy to dictate policy we use our brains. Why not concentrate on making more people rich, and if we are to be poor then why not make them comfortable and give decent public services?

[scooterscot]

Why not concentrate on making more people rich, and if we are to be poor then why not make them comfortable and give decent public services?

If we did that then the rich would loose control over you. We don't want that.

[KentPhilip]

More and more I'm seeing mention in the media of how the gap between the rich (the 1%) and the rest of us (the 99%) is wider than ever. Even today I saw a tv news channel talking about how wages in Germany (supposedly the strongest economy in Europe) are really low with many jobs hardly paying enough to live on.

Seems to be the case that the global financial crisis of the last few years has actually been a bonanza for the rich, and a crisis only for the rest of us. Why are we tolerating this?

Since the "global financial crisis" the rich have not really been getting richer, at least not in the UK.
Rather most people in the UK have been getting poorer, harmed by money printing and socialist economic policy in the UK, whereas the Chinese have seen the west take a massive misstep and gone to town on their own (real) economic growth, making themselves massively rich in the process.

[Doggy Styles]

Since the "global financial crisis" the rich have not really been getting richer, at least not in the UK.
Rather most people in the UK have been getting poorer, harmed by money printing and socialist economic policy in the UK, whereas the Chinese have seen the west take a massive misstep and gone to town on their own (real) economic growth, making themselves massively rich in the process.

China is not as well off as many think. A large majority of Chinese are still very poor.

A lot of China's growth was driven by public spending (echos of the UK in the 2000s but on a much bigger scale), but for various reasons that growth is now slowing down.

Some serious commentators are foreseeing a crash, which won't be good news for anybody.

[scooterscot]

F%£k normal people

Spot on... does this remind anyone we know chasing their million pound property portfolio?

[original PM]

You know what the biggest problem is - nobody knows

You speak to some people and China is great and America is screwed, you speak to other people and they tell you the exact opposite.

Then Germany is the financial powerhosue of Europe, then it's not.

It is just a game in my view the whole system supports itself because it exists and it cannot fail - as failure would lead to worldwide meltdown.

No one is going to call in anyone's national debt because we all know the money simple does not exists and never will..

Fooked I tell ya!

[scooterscot]

You know what the biggest problem is - nobody knows

Isn't obvious? The media tries obfuscate with misleading rhetoric all the while the obviousness is there for all to see.

We've been spending beyond our means and now we're broke. That's no so much a problem as it is a reality. And the government seems hell bent on keeping capitalism following it's course.