@cicerone imposter,
Quote:. I believe what they accomplished was a miracle; they were able to make us the superpower both economically and militarily with only five percent of the world population. That's some accomplishment that I believe will never be repeated by mankind.
The very root of our problems. Over-weening, self flattering hubris. The assertion WRIT LARGE.
As if there was something special about this five per cent that found, took over by force and exploited using European technology a vast land containing almost untold and unexploited riches which it only need the rape of Mother Nature to unlock. It will not be repeated because there are no easy pickings like that left on earth.
And that hubris has brought it to the brink of ruin.
Our Newsnight on BBC2 has had a blame programme tonight. Bankers, speculators, regulators and politicians all in the frame being accused and defending themselves.
The speculators said they are necessary for such things as selling production forward and arranging fixed interest loans.
The regulators said that because house prices didn't figure in inflation statistics the central banks ignored them.
Surprise, surprise, no mention of Media and hardly a mention of the borrowers.
For me it was City-slickers running amok and stitching it all up at their glittering parties and general networks, cash bonuses are only part of the story, and getting over confident and gluttonous.
The journalist were pissing in the pot as well and now we see the same ones passing the buck with enthusiasm.
The upswing today is being called the "dead cat bounce" but I think it is due to the City slickers factoring in the future sweat of the workers most of whom, for psychological reasons, are immigrants.
You've sold your grandchildren the biggest sub-prime of all. I have already heard it said that administering the bail-out will cost the $700 billion.
You should read your very own Thorstein Veblen.
You have a nation of millions of economic and scientific geniuses, like ci, and no coolies. That's enough to make a dead cat laugh.