Thanks Bernard for the roundup. Things are feeling pretty 2008y. Clayton’s bailouts for the super-rich banks. More Quantitative Easing for those with the socialise the losses addiction. The mantra needs to change from too big to fail, to too sick to save. Here in Aotearoa the reluctance to offer meaningful help to those in real poverty- …
Things are feeling pretty 2008y. Clayton’s bailouts for the super-rich banks. More Quantitative Easing for those with the socialise the losses addiction. The mantra needs to change from too big to fail, to too sick to save. Here in Aotearoa the reluctance to offer meaningful help to those in real poverty- families living on under $50k still rules. Let them eat cake has a corollary.
Thanks Maurice. We have a history of tolerance + kicking down and imprisoning the poor, which means social unrest hasn't really worked for us. It will need an awful lot of voting and activism to change.
Totally agree. Although as long as we can't move beyond systemic 'there is no alternative' thinking, it's hard to see how these institutions won't just remain too big to fail indefinitely. The trouble is everything is so concentrated and intertwined (ironically, but unrelatedly, like TOP's policies) so that it's near impossible to remove a sick one without the rest of the tower falling down... You can't help but think a bit conspiritorally when there was absolutely zero hesitancy and a fully-formed crisis plan ready within minutes of Credit Suisse's wobble
Thanks Bernard for the roundup.
Things are feeling pretty 2008y. Clayton’s bailouts for the super-rich banks. More Quantitative Easing for those with the socialise the losses addiction. The mantra needs to change from too big to fail, to too sick to save. Here in Aotearoa the reluctance to offer meaningful help to those in real poverty- families living on under $50k still rules. Let them eat cake has a corollary.
Thanks Maurice. We have a history of tolerance + kicking down and imprisoning the poor, which means social unrest hasn't really worked for us. It will need an awful lot of voting and activism to change.
Totally agree. Although as long as we can't move beyond systemic 'there is no alternative' thinking, it's hard to see how these institutions won't just remain too big to fail indefinitely. The trouble is everything is so concentrated and intertwined (ironically, but unrelatedly, like TOP's policies) so that it's near impossible to remove a sick one without the rest of the tower falling down... You can't help but think a bit conspiritorally when there was absolutely zero hesitancy and a fully-formed crisis plan ready within minutes of Credit Suisse's wobble