The economy

[SUBMAN1]

Originally Posted by joegrundman

But Subman, if as a result the Snake Oil vendors are also in financial crap, then it was stupid of them too.

And it was stupid of international banks to make the mistake of thinking that American triple A rated debt (marked with a label saying "you can't lose, i promise" was trustworthy, without stopping to consider it might be a scam.


In short the stupidity lies not with whichever group best suits your political prejudices, but with who at the end of it is in the crap, when there were things they could have done to stop it if they hadn't been so dazzled by the prospect of vast riches.

Wrong! In the end, it is the consumer that controls the market. Everything hinges around them. They, as in one single body, make up more than the majority alone and everything revolves around them. The banks - rely on the consumer. The snake oil vendors, rely on the consumer. The international banks - same story.

Spin it any way you like, but what I say above is the truth and there is no other way to really spin it.

-S