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“When you lose money for individual consumers — i.e. taxpayers and citizens — people in government get very, very upset. Regulators get very, very upset,” Blankfein said.
Normally… yeah. Under this regime? I genuinely doubt they’d give a single fuck.
Maybe if those individuals are rich. Everyone else has been getting screwed without the government caring for a long while. It's why so many had foreclosed on their home in 2008 while big banks were bailed out and their execs rewarded themselves with big bonuses.
No shit. lol
It's going to be a double wammy. AI bubble bursts + printing billions of new dollars to pay for war
A economic crash is when us peasants lose money. An economic boom is when the guillotine chow gains money.
No, Donnie just filled his diaper again
LOL. Everyone knows that, the problem is no one knows when the hammer gonna drop. Could be today, could be three years from now.
Everyone wants to make money while everyone is making money. As in, you cant afford not to be on board.
When the correction comes it might be 5% it might be 50%, but we all gonna be in it together.
I guarantee it won't take three years, nor will it be anywhere near the low end. Odds are it will begin in earnest once the lying thieves are voted out of office, and those trying to clean up the mess will take the fall for what the thieves have done to the economy. So, the "middle of the road" flip-flopping morons who don't understand that - nor care to - will eventually switch back to voting for the lying manipulators who tell them what they want to hear, and "look, see! The others are terrible at keeping the economy going!"
I'm SO fucking sick of people.
You're in luck, they're going to die in droves.
Great, buy puts three years out or shut up.
Truth hurts, huh?
It's only words until you do something about it
If I ever gamble, it's generally only for fun, or if I have little other choice. I prefer not to gain off other people's misery, even if I don't like them.
Buying puts is paying people who are selling covered puts for income, in other words who own the stocks and are counting on them not going down
Usually big funds, they don't need your sympathy
No, we're not all in it together. The poor 90% of the world will pay most of the bill as always, while the rich are quite well-off. And the ultra rich live in their own realms.
Whether I agree or not, someone like this sharing an opinion is enough to move markets.
I was going to make a Rock comment, then maybe I thought I’d make a Police comment. Then I wondered why people keep smelling things.
I can feel coming in the air tonight
Man… I’m an idiot - thought it was “I can smell it coming in the air tonight”
Lol that's Genesis. The Police was "Canary in a coal mine"
Not Genesis - just Phil Collins.
Wouldn't help if you were since it was released in the 80s.
That's the joke dot jpeg
No, really
It's the last verse in the song I linked, The Night I Laid You Down by Stephen Lynch. The singers are arguing about a Phil Collins song.
Yikes – I’m double idiot.
For the love of pete, that's Green Day.
(Just having fun with it. post contains no heartfelt accusations of idiocy)
This is no different than any other market disruption. If a crash comes, the average consumer will take the brunt of the pain while an ever-shrinking group of rich people will buy up their losses at a discounted rate. Regulatory bodies will bail out anything deemed “too big to fail” under the guise of protecting jobs and the average citizen, but with the real effect of further wealth consolidation.
We will just keep wallpapering over the cracks in the foundation, until the foundation is made of rotten wallpaper, and then we will say that the foundation was always that way anyway.
Isn't this the exact same thing happening durin all other finance crashes in the last decades? I don't think the modus operandi is much different.
Exactly - rather than taking the opportunity to study how we could run a financial system that functions better and implement changes, regulatory bodies say that the problem is too big to warrant consideration. Every flipping time.
True
To be honest I think this is a cyclic process only being interrupted when inequality and welfare become shitty enough to push a majority of individuals out of their comfort zone... that's when revolutions happen. Ealier I don't expect anything to change as the biggest players are allowed to continously shape the system in their favor.
He doesn't have to smell it, he just has to look at reserve ratios. If they are 12 to 1 or 16 to 1, no worries. When they get to 50 to 1 or 100 to 1 a crash anywhere will cause a chain reaction of failing instititutions.
Damn, who financial crisesed in here?!?