tag:blogger.com,1999:blog-830201814627063938.post1277166479800907962..comments2024-03-22T11:05:30.869+00:00Comments on Financial crisis? <br>It's a pyramid, stupid.: Greg Pytel: Be careful what you wish for...Unknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-830201814627063938.post-62619543456991419912013-03-28T12:47:14.516+00:002013-03-28T12:47:14.516+00:00So true Greg,
http://mises.org/daily/6314/Banking...So true Greg,<br /><br />http://mises.org/daily/6314/Banking-and-the-State<br /><br />This is an excellent article that complements your insight and analysis.<br /><br />Best,<br /><br />MartinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-13344750199341620152013-03-06T20:48:43.842+00:002013-03-06T20:48:43.842+00:00Hi Manny
I do not have an idea about the detailed...Hi Manny<br /><br />I do not have an idea about the detailed timescale of the collapse. There is a very unpredictable element of human behaviour. I think this example may illustrate it well: if someone has a court order for debt, a huge debt that s/he cannot pay, s/he cannot really tell when a bailiff is going to knock at the door, or will be made bankrupt. But surely s/he is on borrowed time and the demise will come. By the same token we cannot say when and what sort of events will lead to eventual collapse: the system operates like an insolvent company.<br /><br />And I think some other events may cover that anyway according to Monty Python logic if something really idiotic is done, something even more idiotic will be done to cover it. The financial crisis that started in October 1929 ended (or rather was covered) by the World War 2. This shows how it works and these processes can take time,<br /><br />Best, GregGreg Pytelhttps://www.blogger.com/profile/15749997788308388129noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-10498459854269198842013-03-06T20:37:37.962+00:002013-03-06T20:37:37.962+00:00Greg,
Thank you very much for reposting that link...Greg,<br /><br />Thank you very much for reposting that link which has really clarified things further for me. You avoided my question on timescales for the collapse of the pyramid rather neatly! Is it very hard to say? <br /><br />Thanks again and best, as always,<br /><br />Manny.Pie MManuelos Gr Uffollogushttps://www.blogger.com/profile/12558936800632460725noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-42096958344423992352013-03-05T22:58:40.993+00:002013-03-05T22:58:40.993+00:00Immanuel says what I wanted to say but with better...Immanuel says what I wanted to say but with better grace and claritystalinvladhttps://www.blogger.com/profile/04422158209801895819noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-44454580610072193252013-03-05T22:58:09.632+00:002013-03-05T22:58:09.632+00:00Banks are not lending? My Lord. is it not somethin...Banks are not lending? My Lord. is it not something I was writing about back in August 2009 (where I described systemic mechanisms)?<br /><br />"Why banks are still not lending?"<br /><br />http://gregpytel.blogspot.co.uk/2009/08/why-banks-are-still-not-lending.html<br /><br />It is frightening what sort of people are running the economy if they cannot see, never mind comprehend, the most glaringly obvious things.<br /><br />All the bestGreg Pytelhttps://www.blogger.com/profile/15749997788308388129noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-85514000740233178262013-03-05T22:55:51.208+00:002013-03-05T22:55:51.208+00:00This comment has been removed by the author.stalinvladhttps://www.blogger.com/profile/04422158209801895819noreply@blogger.comtag:blogger.com,1999:blog-830201814627063938.post-23303756291716081492013-03-05T22:49:59.859+00:002013-03-05T22:49:59.859+00:00Hi Greg,
I see aswell, on Newsnight yesterday, th...Hi Greg,<br /><br />I see aswell, on Newsnight yesterday, the funding for lending scheme isn't working. Apparently the British banks were given over 14 billion and have lent out less than that, much less. Previouly you predicted this: "[...]they will use the money to repair their balace sheets" I think you said. Presumbably, there is no way of preventing the pyramid's collapse since the banks are leveraged over and above in excess of all the money there actually is. I would however be interested to hear your thoughts on the timescales of collapse since the bailouts of 2008 seem to have created some space to manouver, delayed the inevitable.<br /><br />Hope you are well and best,<br /><br />manny.Pie MManuelos Gr Uffollogushttps://www.blogger.com/profile/12558936800632460725noreply@blogger.com