RPhilbeck wrote on Sat, 29 March 2008 22:27 |
J-Texas wrote on Sat, 29 March 2008 10:40 | It's not just the idiots.
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Yes it is absolutely just the idiots. The idiot banks making loans to people who don't deserve a loan, and the idiot borrowers taking loans they know they cannot pay back.
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That crash doesn't look like a crisis created by a few bunch of idiots.
When you have a lot of idiots making a lot of idiotic decisions that affect a whole economy on a planetary level with absolutly no leverage to stop it for real: you don't call it a mistake done by idiots.
You call it a system.
A flawed system, that is.
only idiots would disagree.
You don't loan money to poor people to be nice to them. You loan them money because you need them to have cash, and because it is profitable to you.
incidently : you don't loan money to people that don't need any of it. That is why poor people that needs money are paying dividends on rich people investments. That is how the system works. The trick is to make life more expensive to people that are poorer : you get the trick now ?
Supply and demand.
It's as freakin incontournable as ohm law in our field of expertise.
But please : don't.
Don't think this crisis is caused by idiots.
please
We're no fools.
malice