Posted on 10/10/2008 9:12:38 AM PDT by Danae
Italian Prime Minister Berlusconi said political leaders discussing idea of closing world's financial markets while they 'rewrite the rules of international finance'... MORE
Nothing follows. I can't get to the Bloomberg story its getting hammered.
This is huge and series. Load your shotguns folks.
4 later
why bother ?
just like drilling for oil, itll take 10 years before the payoff...do I really need to /s ???
LOL
This pretty much explains why gold bullion is not being traded much by brokerages. Lots of folks appear to be hoarding it right now.
I think Hobbes was describing the Dark Ages. An omen?
They can't tax what you don't have!
Great analysis. They are learning the lesson of 1929 on their own and with an added conundrum of nobody in charge. I am not sure that this requires US action — do you?
Usually houses sell in a down market. The appraisal is based on recent sale prices. Your point is that houses are not selling, so there is no way to value a house.
I agree in general with your analysis. I am not sure the bailout is for homeowners per se. It is for those that hold the mortgages. It enables them to better peg the value of the mortgage they hold. The theory is that if they know the value of their assets, then they will know what they can afford to lend. If the bail out solves the house pricing problem that you so astutely defined, then it only does so from a trickle down approach.
My plan would be that the rest of the state has to submit to Eureka County, since they have the biggest mines in the state. ;-)
Thanks!
I think not. He was describing a theoretical state pre-existing all civil society. Also the term 'Dark Ages' is a bit of a canard, at least in its later stages following the Germanic tribes settling into their new digs. Of course the manorial system of serfdom was tough, but not generally brutal, and originated in late antiquity and continued, in the West, well into modern times.
As a general rule, correct. But there are exceptions, such as the Carter years, and Germany in the 1920s.
Yes, serfdom existed in much of Russia in the late 19th century and in some parts of Russia later than that. You are correct, the manorial system was not brutal. The brutality part is associated with the development of the social structure, especially when one lord would force vassalage over another. This was perhaps a 200 year interval.
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