Originally Posted by carcontrol
Wow, so there are
people on OCN who actually understand economics? Nice to hear from people who understand, and not those who regurgitate the typical economically illiterate nonsense so prevalent in people's minds today.
sorry but what he is writing is basically glorification of Sociopathy. "You wouldnot be able to make hard decision, bla bla bla."
Central banks are full of people who studied economics, yet somehow they cant avoid blowing bubbles and repeating boom and bust cycles again and again and again.
RE "people's minds today", well if it walks like a duck, quacks like a duck it is a duck. sometimes the simplest answer actually is truth. Ou and just so that we are clear. I am not one of those uneducated minions you apparently like to look upon, I know all about the dirty little secrects like CDOs, CDS, CDS^2 that somehow make the economy. I mean tell me how come, not one of those economic leaders realized that when RE tanks, all the CDS based upon mortgage CDOs will tank at the same time. so if they sell insurance, make no reserves cause its not 'insurance' because well if it were it would have to be regulated, well I guess they are not that clever. What i am saying, usually not all insured cars have accident at the same time, but if RE tanks you get loses on all RE related derivatives.
PS: a guy like jobs or george lucas, who make a company from ground up, i got no problem with them. but people like gates or buffet are just pretenders. read their biography to find out who their parents were.
Now 50m for Hatrick is just fleecing the shareholders. time will show