YES! - Systemic Risk abounds. Nothing has been fixed since the crash of '08. The Zombie Banks are due to fail.
98%
NO! - This is just a single botched trade by a rogue London trader. There’s no real systemic risk here.
2%

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telliottmbamsc's picture
telliottmbamsc 3 years 39 weeks ago

Who cares.

The 99% is down to their last remaining hope for a fair and just American Society coming from a massive involuntary, and unfortunately very disruptive, redistribution of wealth. With any luck the power structure will also change in favor of the people.

Sadly, a “bad event” is probably something we’ll have to go through to get back to a democracy. Right now we are languishing in velvet fascism that is increasingly outright blatant fascism and we are getting ever closer to falling flat on our faces.

It’s like the only medical advice 10’s of million of Americans can afford when their sick: “barf, you might feel better!” In this case the barf is the 1%, ALEC, lack of campaign finance, and the political economic structure in general we have fallen into.

arky12's picture
arky12 3 years 39 weeks ago

I watched an interview on CNBC yesterday that included former Governor of NY Spitzer. Also included were other bankers, etc. who all seemed to agree that more regulation was needed and/or that banks should be either broken up or investment banking should again be separate from depositor money. Also indicated that anything within banking that is covered by the FDIC should not be open to this type of investment gambling. I have been somewhat encourage by Republican leaning news, bankings, etc. who now seem to favor more regulation, not less. Maybe this is a wake up call that it's been business as usual and there is some concern that we'll experience a repeat of 2008. I hope this sentiment gets through to the House and they push through tougher regulations.

John Defalque's picture
John Defalque 3 years 38 weeks ago

According to the documentary , "97% Owned", just 2.5% of our money is real.The other 97% is digital, much of it fictitious money based on the fantasy island of Manhattan economy, the ponzi, casino fraud economy.

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The Problem of the Establishment

One thing that both parties have in common in this primary season is the fact that there's a sharp divide between "We, the People" populism, and the rich and powerful Washington establishment.

On the Republican side, Donald Trump is leading the race by running on a populist platform based on the fact that he's not beholden to the billionaires or lobbyists, and that he's never been part of the political establishment.

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From Cracking the Code:
"No one communicates more thoughtfully or effectively on the radio airwaves than Thom Hartmann. He gets inside the arguments and helps people to think them through—to understand how to respond when they’re talking about public issues with coworkers, neighbors, and friends. This book explores some of the key perspectives behind his approach, teaching us not just how to find the facts, but to talk about what they mean in a way that people will hear."
to understand how to respond when they’re talking about public issues with coworkers, neighbors, and friends. This book explores some of the key perspectives behind his approach, teaching us not just how to find the facts, but to talk about what they mean in a way that people will hear."
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