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Thanks Dwill, I was wondering if somebody would mention this in the discussion.It's too bad, then, that Canada and most of the world is sucked into the vortex of our financial flushing.
This is true to a point but I think the larger question is whether or not ideologically bound thinking serves us well when we are facing rot in our economic system of the nature that Phillips is describing.I suppose it would depend on who's ideologies you wanted to compare.
Thanks, Ophelia, for your condolences. So I work until I'm 75, so what, right? Something in me even rebels at calling these things "products." I suppose in some ways, finance is looked upon very favorably by economic movers and shakers--the ultimate "green" industry with high wages to boot. In this country we seem to have dropped manufacturing like a bad habit, and I must admit I have never been nostalgic about it until recently. Kevin Phillips says that this speculative frenzy is a hallmark of the English speaking countries. Can you make anything out of that? Does speaking English cause financial hooliganism?Ophelia wrote: The people who wanted to make these bad deals in the US and get rich quickly purposefully sold those products all over the planet so as to spread the risks, and , er... we're not too happy. Of course, if our own bankers had been more careful and less greedy they might have found out.
And I'm sorry about what happened to your retirement saving plan!![]()
I'm like Camacho, I don't have enough money to invest so I'm not concerned personally.
Kevin Phillips says that this speculative frenzy is a hallmark of the English speaking countries. Can you make anything out of that? Does speaking English cause financial hooliganism?
I don't know about a conspiracy, but it seems that everybody who is in economics and government is thinking about a devaluation of the dollar.Does anyone see this as a big conspiracy to devalue the American dollar?
I don't see how we can separate anything except perhaps some particular philosophies of science away from the idea-ideology-life relationship. I don't feel that you have described satisfactorily to what point comparing ideologies is useful to. A non-ideology bound thinking is still an ideology. The best I can summarize is that you feel there should be no direction or limits to the system. You seem to me to say that to fundamentally fix the financial sector we would remove all objectives or goals, and not define the limits on its functions. Thereby fully separating the function from the ideology. I understand that these are the two most important ideas that you can ever give to any system.This is true to a point but I think the larger question is whether or not ideologically bound thinking serves us well when we are facing rot in our economic system of the nature that Phillips is describing.