Hi Noela,
The guy is absolutely right. There is one thing missing though. He says that if we boycott products from certain countries there would be no market and withdraw funds from the banks would create a financial crisis (it already has a financial crisis), but what he didn't say is that if we all maxed out our credit cards and refused to pay them, we could at least see some of the taxpayers' money that is being wasted to try and prop copanies like Citigroup up.
If whoever has a Mastercard or Visa maxed their cards and told the company to take a hike en mass, that would bring an end of the money wasting of the government, as the coffers of these companies will really dry out.
Personally I've seven credit cards, all looking at me....
If I think over here there's no going back, I'm doing the lot!
@ pyrangello, I wouldn't be too proud of Obamas' lip service. He appeared angry (he has to - it's part of his job), but I listened to what he didn't say, rather than what he said.
He didn't say who these companies were. He didn't say that these companies were no longer entitled to bailouts because they spent money recklessly, nor did he demand that these sums of money be returned. What does that tell you?
For the companies that try and justify the holding on to these 'highly qualified professional', two comments; It was these 'highly qualified professionals' who got the companies in the poo in the first place and secondly, where would these 'highly qualified professionals' go to? If I went on a job interview saying that I was financial officer of Citigroup, that would be the kiss of death. Just ask any company director who is making money.
Best regards,
Steve
Quote:
Originally Posted by Noela
There is an article on http://sott.net titled "Dazed and Confused - that's because you're being mugged"
by Simon Davis and Donald Hunt.
I know little or nothing of economics but I found I
could follow this - very sane and rational - and
at least get the gist.
I found it enlightening - added a bit more to
my little knowledge of the financial situation.
It would be interesting to know what others
with some knowledge of the subject would
glean from this article, and what their opinions
of it would be. |