tag:blogger.com,1999:blog-830201814627063938.post3407865200643250454..comments2024-03-22T11:05:30.869+00:00Comments on Financial crisis? <br>It's a pyramid, stupid.: It is time to face reality over global liquidity black holeUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-830201814627063938.post-33416202177376603962010-06-30T15:01:56.683+01:002010-06-30T15:01:56.683+01:00Greg,
Given Vince Cable's complicity in the c...Greg, <br />Given Vince Cable's complicity in the con-dem neoliberal, finance-friendly, budget, will you now remove his endorsement from your blog page?<br />NickNickBhttps://www.blogger.com/profile/11332854772400025221noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-28582707614289960392010-06-30T15:01:49.516+01:002010-06-30T15:01:49.516+01:00Re: Inflation and its part in the banking crisis
...Re: Inflation and its part in the banking crisis<br /><br />My understanding of history may be incomplete in this area, but from what I do understand, banking was at one time a slow, steady business of gradual realization of profits. Then, there came about many new ways to increase and expedite profits so that the industry increased their earnings to unprecedented levels. You describe some of the ways this was achieved.<br /><br />I’m sure greed has its part in the story, but it doesn’t explain entirely why an industry felt it needed to grow profits at such stratospheric rates. <br /><br />One of my favorite columnists, John Tamny, likes to harp on inflation, specifically to stipulate that it is a reduction in the value of currencies, rather than rising prices. <br /><br />So I’m inclined to think that the drive for massive profits in the banking & finance industries is indicative of substantial inflation that the governments simply do not want to acknowledge. It would seem that in addition to greed and bubble dynamics, the financial events of the past decade would also signal that the finance world views the various currencies as worth far less that the official values would indicate. <br /><br />Any thoughts?Beckyhttps://www.blogger.com/profile/03597312287325447500noreply@blogger.com