Posted on 10/10/2009 8:18:53 PM PDT by RobinMasters
William White predicted the approaching financial crisis years before 2007's subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy.
William White had a pretty clear idea of what he wanted to do with his life after shedding his pinstriped suit and entering retirement.
White, a Canadian, worked for various central banks for 39 years, most recently serving as chief economist for the central bank for all central bankers, the Bank for International Settlements (BIS), headquartered in Basel, Switzerland.
Then, after 15 years in the world's most secretive gentlemen's club, White decided it was time to step down. The 66-year-old approached retirement in his adopted country the way a true Swiss national would. He took his money to the local bank, bought a piece of property in the Bernese Highlands and began building a chalet. There, in the mountains between cow pastures and ski resorts, he and his wife planned to relax and enjoy their retirement, and to live a peaceful existence punctuated only by the occasional vacation trip. That was the plan in June 2008.
(Excerpt) Read more at spiegel.de ...
Sorry, but that is really WRONG! Government is there to provide a civil background - not to promote any job opportunities, good or bad. You obviously have a different idea of governments role which I doubt that anyone can dissuade you from...
The only role of government is to provide a safe background for business - not to interfere or persuade. Any time they get involved in anything else, it is ALWAYS detrimental to business...
Yes, minimum wages are good (in a sense) but also bad for business in that it contributes to bad business decisions. Almost all government regulations can be judged similar. Yes, you can say that it is good for the individual, but bad for business... So, whether it is justifiably good on the whole is still up for grabs. That is actually, the norm for most government decisions - if I had to vote, I would be about 55% against almost all of those...
Almost all of these things would have come about regardless of government intervention - simply because they would have been good business practices. It’s kind of like hiring the cream of the crop by paying top wages to those that actually deserve it - rather than giving those that are minimally qualified - think affirmative action...(not exactly a good business practice).
All of these government programs are good to some, but negative to the long term growth of the economic system.
So...yes, some government intervention is necessary - not good but necessary. It does help to prevent problems but of course it also introduces problems itself. All things need some sort of regulation...to prevent human nature from expanding beyond their initial intentions.
If that is your definition of Democratic political help, you are lost already...
“So...yes, some government intervention is necessary - not good but necessary. It does help to prevent problems but of course it also introduces problems itself. All things need some sort of regulation...to prevent human nature from expanding beyond their initial intentions.”
Then we agree.
parsy
Heh...well that is one small point of agreement! The rest you avoid like the plague - which I would also if I were you... It is such nonsense that it would be too hard to defend. Now...let’s hear you defend the current Democratic administration...that you seem to adore...
“Well what about Breakfast at Tiffanys? I think you remember the film, and as I recall, I think, we both kinda liked it.”
Only good thing coming out of administration is maybe financial reform and that’s not clear yet. Crap and Played sucks. Indecision on Afghanistan sucks. His speeches suck. Health care is a mess. His Czars, are like commissars. One other good thing is that he is spending money like crazy because that is probably only thing that is going to save our b*tts. If he can just get it down to working man level where demand can grow.
parsy, who fears not inflation at this point because we are already sunk.
Interesting...I did a search on your moniker and came up with one entry... and yet, you’ve been a member for so long...
Oh well, lets say financial reform is a dream - envisioned by Barny Frank and his worshipers. Geez, he is responsible for most of the housing problems himself! Yes, he is a joke!
Financial reform...ha, what a joke! We have those that caused the problem in charge of fixing it...well, maybe you could guess the outcome.
I’m sorry, but you are so out of touch with reality that it makes it very hard to state facts. I actually blame the MSM for their obscuring of facts and your problem of actually searching for same...
Yes, some of what you say is true - Afghanistan, Health Care (government care), my favorite Czars...etc... but you still seem to cling to government solutions - never happen.
You really need a good dose of Beck or someone like him... At least he is asking the right questions...
One entry???? That’s wrong. Here since August 1998. First freeper to post a thread under the influence of percocet. (I had been to dentist) First freeper to post a thread entirely in code. First freeper to channel a dead person for a thread (Ayn Rand)
parsy, who wonders why everyone doubts him
Hmmm... that is interesting. Try a search yourself. I only came up with one instance. Maybe I entered it wrong...
I can see your join date...but it is strange that you do not show up in my search...
AT any rate, this is a side issue - you are still a strange creature that calls himself a past Republican but caters to Democratic principals... So...?
Have you come up with anything other than my search?
I copied this one off my legacy stuff a month or so ago. Sometimes the legacy stuff shows up and other times not.
Ayn Rand Against Bankruptcy Reform!!!
I was recently a guest of television medium, Jon Edwoods, host of Crossing Under. The popular show can be seen nightly on the Psy-Fi Channel. A transcript of the interchange follows.
JE: I’m getting vibrations from someone. Does the letter ‘R” mean anything to anybody?
ME: Me!
JE: Okay Robert, Roberta, Ralph, something with an “R” or maybe a “P”.
ME: Me! It stands for “Russian”.
JE: I get that. I get that. Rushin to his death. Somebody was rushin somewhere and got hit by something...
ME: No, Russian. She’s Russian.
JE: That’s right. I see more clearly now. She was rushin to go somewhere. I knew I would get it. She was rushin out the...
ME: No. She was Russian. Like from Moscow. See.
JE: Yes it’s getting clearer. She was in Moscow and I see a “C” for Chechens, Chernobyl....
ME: No she was here, an American, but she was born in Russia
JE: Yes she says to tell you she is with Jesus now... she was your mother, your aunt maybe or...
ME: No her name was Ayn...
JE: That’s right Aaaauuunt as in Ann, her name was An—na——sta-—sia..
ME. No. Just Ayn.
JE: Ann . You’re right A.- N.- N.
ME: A -”Y”- N.
JE: Yes sometimes it is a little fuzzy over there...She says to tell you she misses you...
ME: But I never knew her. She was a writer.
JE: Yes she says to tell you that she still rides in Heaven. Her horse...
ME: Not “rider” , “writer” “Writer” with a “W”...
JE: Writing! She’s still “Writing!” in Heaven about horses..., hearses...., whores...., hors d’oueves,...
ME: Horses? Oh, iron...
JE: Ironing horses. Yes ironing horses. She writes about ironing horses.
ME: No. Iron Horses! Iron Horses! You know “trains”...
JE. Yes, she’s telling me she writes training manuals on ironing horses...
ME: No. Trains like choo choo trains...
JE: Yes she’s coming through clearer now... She writes on trains....
Anyway, to make a long story short, after about two hours of dialogue, and one game of “I’m not Bonicelli, I’m M.M....” I was able to determine that Ayn Rand is opposed to the new bankruptcy reform bill. In her words, as relayed to me by Jon:
“I amf unalterably oppose-ed to the newf bill. It does nuttink but revard dose who make the bad loans. They arf looters who vant somethink for nothink! In mine book, Atlas Shruckt, I created de character, Midas Mulligan, who vas a banker until he vas forced by government compulsion to make de bad loans. Ven he was forced to make de bad loans, he quit de bankink business and moved to Colorado. A man like Midas Mulligan vould nefer ask the government to safe him from a bad loan. He vould be careful und not make de bad loan. He vould vant collateral. If he made de bad loan, he vould not cry like de titty baby. He vould not pay money to de government to change de laws. He vould take responsibility!”
Some people believe that Jon Edwoods only reflects back what the questioner want to hear. But after this demonstration, I amf a beliefer.
1 Posted on 03/19/2001 18:39:13 PST by parsifal
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To: parsifal
I amf a beliefer. - A drunk Mickie Dolenz
2 Posted on 03/19/2001 18:42:37 PST by Senator Pardek
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To: Senator Pardek
“I amf a beliefer. - A drunk Mickie Dolenz”
Are you trying to make a “monkey” out of me???
3 Posted on 03/20/2001 10:11:33 PST by parsifal
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To: parsifalsenablersonFR
This is mrs.parsifal. He just showed me a hard-copy of this and was laughing his head off like it was the funniest thing ever written. I want all you freepers to know that he talked his way out of doing dishes last night because he said he had something real important to write. If he wastes anymore of his time on foolishness like this I want you to let me know immediately.
I am going to get an email address on yahoo. Will try to get “mrsparsifal@yahoo.com.” I particularly expect you ladies to help me out! There is no telling how much housework he has been getting out of. I would get on here at FR but he told me there was a limit of one person per family.
Thanks,
mrsparsifal.
4 Posted on 03/20/2001 17:19:10 PST by parsifal
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parsy, who went to great lengths to do this
And quite possibly ‘first freeper to refer to himself in third person’!
: )
Yeah! Four firsts!
parsy, who is on his way to being an ace
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.