tag:blogger.com,1999:blog-8205333.post5307621265298967523..comments2023-10-16T11:28:03.544+00:00Comments on Anomaly UK: What was the problem?Anomaly UKhttp://www.blogger.com/profile/04780148789321563441noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8205333.post-68363182550277206192008-09-29T16:11:00.000+00:002008-09-29T16:11:00.000+00:00When a crisis like this happens everyone blames th...When a crisis like this happens everyone blames their favourite bugbear. An elderly Canadian in the McDonalds near where I live, who appears to have worn the same raincoat without washing it for the last 30 years, has explained the reason for the meltdown.<BR/>Subprime mortgages involves lending money to Negros.<BR/><BR/>The debate as I have witnessed it on other sites goes as follows: Capitalism contains within it the seeds of its own destruction: surplus value and all that. O no it doesn’t, the system would have worked perfectly if x y z. <BR/><BR/>Personally, I see the problem as part of a historical process whereby society is taken over by various interest groups who then proceed to run us all into the ditch.<BR/><BR/>In Germany, the first stage was the takeover by the military group. They promised world conquest and total prosperity for the master race. They nearly achieved this, but ended up delivering a defeated and impoverished state. They then persuaded the master race that if the war had been fought differently, different regiments at different fronts, they would have won. Result, second war, and total defeat and impoverishment. At this point the German people wised up.<BR/><BR/>In the world in which we live, militarists have been discredited and bankers are in fashion. Bankers will lead us to disaster just as surely as militarists, and already have done in 1929.<BR/><BR/>Now the point is, to say “They sold the high-risk bits to speculators and the medium-risk bits to long-term investors. But they kept the low-risk bits. Thats it! That's the error!” is the equivalent of arguing that the war would have been won if Regiment X had been sent to Front Y. Bankers will, if given free rein, infallibly lead us to disaster one way or another, indeed a single trader can wipe out the profits of an enormous bank. Like militarists, they are simply a species of compulsive gambler, who will never stop until completely bankrupt. The words deregulation, demutualisation etc are the signs that this process is about to take place.<BR/><BR/>An unhealthy nation can often be spotted by the excess numbers of a particular profession it contains. Japan has very few lawyers, which goes some way toward explaining what success it has enjoyed. In Ireland too, the legal profession has for some reason never been a popular career choice among the natives, who seem to operate entirely in terms of farmers, builders, nurses and barmen. This nation will inevitably be well fed, well housed, well looked after in sickness and well oiled. <BR/><BR/>The disasters which await the American nation and those who cluster round the City of London remain to be seen. The unreality begins when professions such farmer, builder and nurse begin to be regarded as a source of chump change, and banker becomes the only popular and profitable career option. <BR/><BR/>The Financial World has seen to it that farming has become an optimally conducted industry, with every redundant agriculturalist driven from the land. Equally, major building projects frequently end up with bankruptcy for the undertaker. What we need now is for the practitioners of these professions to club together and slim down the banking world.A Nonny Mousehttps://www.blogger.com/profile/15824713232073772433noreply@blogger.com