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Global financial system implosion begins

Capitalists are always surprised by the way things pan out - if only they had read the Wealth of Nations or Das Kapital - they are in agreement that this sort of tosh would occur - the cures are very different. None has actually achieved success, even in supposed "Socialist" countries, these chaos events still happen. Short answer? It should be legeal to randomnly shoot anyone wearing a Brit Gas, BP, Shell etc tag who works in an office they are more likely a bad bugger. I say that cos I worked on a Semi sub all dem years back - so not a "Suit", just a shadowy shape coated in muck - so I feel smug about my lack of decision making. BUT. this is normal and prdicted by the very form of the system. No short term "lesson" would help. Total change of the same again for ever
 
hipipol said:
Capitalists are always surprised by the way things pan out - if only they had read the Wealth of Nations or Das Kapital - they are in agreement that this sort of tosh would occur - the cures are very different. None has actually achieved success, even in supposed "Socialist" countries, these chaos events still happen. Short answer? It should be legeal to randomnly shoot anyone wearing a Brit Gas, BP, Shell etc tag who works in an office they are more likely a bad bugger. I say that cos I worked on a Semi sub all dem years back - so not a "Suit", just a shadowy shape coated in muck - so I feel smug about my lack of decision making. BUT. this is normal and prdicted by the very form of the system. No short term "lesson" would help. Total change of the same again for ever
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Run that past me again but slowly, please, for the hard of thinking.
I can follow until line 2.
 
kabbes said:
I’m a bit confused as to the relevance to this thread? Unless you mean his bombastic nationalism, when he says:

“I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America," he said. "And I doubt very much that any reader of this letter will have a different experience in the future."?
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He says something like that every year. At his shareholder meetings he gets asked repeatedly if the US has passed its prime as a superpower, and would it be best to invest in other countries. It's his way of getting in front of that question. Truth is, BH invests in companies all over the world. One of the biggest is their investment in electric car company BYD in China.
 
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gosub said:
www.foxbusiness.com

Warren Buffett delivers clear inflation warning, slams 'disgusting' business leader behavior in annual letter

Billionaire Warren Buffett issued a clear inflation warning and hit at 'disgusting' money manager behavior in his annual letter to Berkshire Hathaway shareholders.
www.foxbusiness.com www.foxbusiness.com
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He makes a good show of being a kindly grandfather who cares about business ethics, but he allows Wells Fargo to continue screwing people despite massive fines for unethical behavior. At one shareholder meeting he blamed these issues on unethical employees trying to manipulate the bonus system, but its management that set up a system that couldn't be met without unethical behavior and then leaning on the employees to meet them regardless. All of those employees were fired, but they recently had another grand example of company-wide unethical conduct so it's plain that wasn't the source. He could replace their management, which is the source of their unethical conduct, but he doesn't.

I've been to several of the shareholder meetings (a friend owns some B-shares) and it's an interesting place to people watch. There are several classes of people who go to them. There's elderly Americans who wear Hawaiian shirts and Birkenstocks and drive Cadillacs. At lunchtime, they pull out lawn chairs and a cooler and eat sandwiches in parking lot. There are all kinds of American businesspeople in suits, of course. These always ask questions prefaced with the name of their investment company and the amount of money they manage. They eat at the high-end restaurants in the Old Market. There's also a large contingent of young Chinese men, who all wear the same black suit, white shirt, thin black-tie, and black sunglasses uniform. They take up entire ballrooms to listen to simulcasts in Mandarin. At the end of the day their WAGs show up dressed in skin-tight dresses and high heels, ready to experience the nightlife in Omaha (such as it is). TBH, the Chinese must go home a little unimpressed with America.

I stopped going because of how the security changed over time. At first it was just metal detectors and people searching your bags. At the last one there were Omaha cops with sniper rifles on the tops of buildings, and guys in full plate Kevlar on the ground with machine guns. Inside there were guys who looked like high-end security in blue suits and microphones in their sleeves. It was a little surreal.
 
hipipol said:
Capitalists are always surprised by the way things pan out ...
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I'm not so certain they really are surprised. They love the instability they create and use it as an opportunity to get control of resources on the cheap when things go south. Most of the time the chaos they create doesn't really effect them as much as it does the average person, who loses in both good times and bad.
 
Not what you want on here! Things are looking up..
Columbia Threadneedle is to reopen its flagship £358m CT UK Property Authorised Investment fund (CT UK Paif) and its CT UK Property Authorised Trust feeder fund on 28 February.
The strategies suspended dealing temporarily on 10 October following a significant rise in redemption requests.
Cash in CT UK Paif had fallen to a level where further redemption requests could not have been met until a sale of assets had been completed.
The fund’s manager Gerry Frewin said: ‘We are pleased to reopen the fund following a successful asset sale and continue to believe in the fundamentals commercial property provides to long-term investors in a balanced and diversified portfolio.
 
SVB in the states chucks billions at any old Shite that calls itself a start up. Soi disant investors check money at SVB in the hope on they might catch the next apple or whatevs. SVB is going to collapse. Billionaires demand that the government step in and rescue it. Same old




6CFBF158-A30B-4675-918C-301FEDC7ACB2.png
 
ska invita said:
whats your point? are you saying boohoo for people who work for this bank?
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No, all companies use banks to handle their employee salary payments. He’s saying that if the bank that your workplace uses goes bust, that could threaten your ability to receive your paycheck.

Wells Fargo say there was just a technical glitch, though, rather than a financial problem. We’ll see if that’s true, but it is believable. Indeed, you may remember similar things happening to a number of UK banks over the years. Lloyds, Halifax and BoS failed to process payments for a while last year, for example.
 
kabbes said:
No, all companies use banks to handle their employee salary payments. He’s saying that if the bank that your workplace uses goes bust, that could threaten your ability to receive your paycheck.

Wells Fargo say there was just a technical glitch, though, rather than a financial problem. We’ll see if that’s true, but it is believable. Indeed, you may remember similar things happening to a number of UK banks over the years. Lloyds, Halifax and BoS failed to process payments for a while last year, for example.
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Wells Fargo is a glitch magnet though, in addition to a wide range of nefarious practices, so there is a case to question both capability and honesty in their admission of probs
 
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