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Goldman Sachs - Rolling Stone article...

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Yohimbe
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2009/07/16 12:12:47 (permalink)

Goldman Sachs - Rolling Stone article...

worth reading....

http://www.rollingstone..._american_bubble_machine
#1

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    Sheeps_Clothing
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 12:20:04 (permalink)
    They do seem to recruit to55ers too lol, they hire alot from Oxbridge.
    #2
    tac
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 13:04:13 (permalink)
    Very good article - my favourite quote is:

    "Western democratic capitalism... never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy."

    Sums it up nicely.


    #3
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 14:24:39 (permalink)
    Rather stupid article.  The bubble machine is the Fed.  Goldman Sachs is just another branch of the excutive these days.

    Blaming GS for the internet bubble is a bit of a joke.  People who where investing in these companies knew they wheren't worth what they where paying; they where just playing the greater fool theory.  Even before it's peak you could buy every listed company in New Zealand for less than Yahoo and that would get you an income of $1 billon pa.  Yahoo had never made a cent.  Everyone knew this and kept buying.

    Blaming them for the housing bubble is, well, just funny.  Who ran the whole sub prime market and provided the loans?

    Blaming them for the oil price, mow that's getting just roll on the floor funny.  The oil price is largely an indicator of confidance in the $US, if you want to blame anyone it's US economic policy.  The US will default on it's debt to China, so oil is a safer place to be.

    Now the place where they are right is Cap and Trade.  That is simply a scam to increase tax and fund special interest groups.

    "Western democratic capitalism... never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy."


    You think any western government is at all passive?  I mean seriously?  Do you think GS has any interest in a free market, at all?
    #4
    Yohimbe
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 14:52:31 (permalink)
    This guy wizzes and poos all over Chomsky.....

    former Yale grad Parenti...   amazing stuff.


    http://www.tucradio.org/parenti.html#Parenti
    #5
    Yohimbe
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 14:54:07 (permalink)
    wheels offering opinion as fact.  an intellectual would examine in more detail and then form their opinions.
    #6
    MT2006
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:11:34 (permalink)
    Yohimbe

    An intellectual would examine in more detail and then form their opinions.

     


    #7
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:14:54 (permalink)
    Yohimbe

    wheels offering opinion as fact.  an intellectual would examine in more detail and then form their opinions.


    Does the fed not set the price of money?  Is it not the price of money that controls M3?  Was it not Greenspan who lowered interest rates in 02/03 to almost nothing to prevent the recession that was the natural fallout of the dotcom bubble?  Isn't that what fuelled the housing boom?

    Are these facts or am I just living in a parrallel universe to you...
    #8
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:27:21 (permalink)
    Yohimbe

    This guy wizzes and poos all over Chomsky.....

    former Yale grad Parenti...   amazing stuff.


    http://www.tucradio.org/parenti.html#Parenti


    Didn't GW Bush also graduate from Yale?
    #9
    Sheeps_Clothing
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:28:26 (permalink)
    You may not agree with the tenets of the article, but there are clearly some flaws in the way capitalism is taking us...

    Capitalism may make us all richer in monetary terms, but what about health? Socially? Mentaly? Morally?

    Not saying the alternatives work better, but the blind faith people have in democracy and capitalism needs to be question.

    Besides, democracy is only as good as the mechanisms that implement it (i.e.first past the post) and the intelligence of the general public.
    #10
    jules.j
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:31:48 (permalink)
    I didn't bother reading the article in any depth as reading the headline:

    From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again

    Tells me all I need to know about the authors credibility when commenting on the markets.

    Load of bollox.

    If you want to know more about what really causes the problems look at the goverment and the fed.

    Investment banks play their part, but the real culprits are politicians in power.

    #11
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:33:29 (permalink)
    badboy007

    You may not agree with the tenets of the article, but there are clearly some flaws in the way capitalism is taking us...

    Capitalism may make us all richer in monetary terms, but what about health? Socially? Mentaly? Morally?

    Not saying the alternatives work better, but the blind faith people have in democracy and capitalism needs to be question.

    Besides, democracy is only as good as the mechanisms that implement it (i.e.first past the post) and the intelligence of the general public.


    The fact that GS has a very plivaged place close to government and is able to profit from that special relationship is nothing to do with capitalism.  Capitalism is based on a free market.  GS seeks to use polictal infulance to gain profitable, closed markets protected by the state.

    The problem is the state, not capitalism.
    #12
    jules.j
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:39:20 (permalink)
    If you are interested in how politicians and bankers took over the banking system in the us check out "the money masters documentary"

    http://video.google.com...ocid=-515319560256183936
    #13
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:41:34 (permalink)
    jules.j

    If you are interested in how politicians and bankers took over the banking system in the us check out "the money masters documentary"

    http://video.google.com...ocid=-515319560256183936


    Dear god.....
    #14
    jules.j
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 15:49:32 (permalink)
    Wheels

    jules.j

    If you are interested in how politicians and bankers took over the banking system in the us check out "the money masters documentary"

    http://video.google.com...ocid=-515319560256183936


    Dear god.....


    Coming from the man who thinks technical analysis is bunk
    #15
    Wheels
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 17:08:39 (permalink)
    jules.j

    Wheels

    jules.j

    If you are interested in how politicians and bankers took over the banking system in the us check out "the money masters documentary"

    http://video.google.com...ocid=-515319560256183936


    Dear god.....


    Coming from the man who thinks technical analysis is bunk


    TA is bunk, proven beyond any reason.  Posting a video where just about every quote in it along with most fact are either made up or completely rearranged is also bunk.

    I support getting rid of the fed, but this makes that job much harder.

    #16
    jules.j
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 17:20:05 (permalink)
    Wheels

    jules.j

    Wheels

    jules.j

    If you are interested in how politicians and bankers took over the banking system in the us check out "the money masters documentary"

    http://video.google.com...ocid=-515319560256183936


    Dear god.....


    Coming from the man who thinks technical analysis is bunk


    TA is bunk, proven beyond any reason.  Posting a video where just about every quote in it along with most fact are either made up or completely rearranged is also bunk.

    I support getting rid of the fed, but this makes that job much harder.



    I agree not everything in the documentary is accurate, but overall it makes a good point.

    keep reading the FT and believing fundamentals are the only way to make money. I'll stick with the people who work in the city and do it for a living.




    #17
    Rasputin
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 17:58:19 (permalink)
    Sensationalist crap for the masses who have little understanding of real world utter bollocks. 

    Ras

    Ra Ra Rasputin lover of the Russian Queen, Ra Ra Ra Rasputin Russia's greatest love machine (Allegedly)
    #18
    Sheeps_Clothing
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 19:15:30 (permalink)
    What is TA fellas?

    Of course it is sensationalist and for the masses, it was in Rolling Stone magazine. It was a better read than most of the stuff in The Economist (Yawn)
    #19
    Wes Borland
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    Re:Goldman Sachs - Rolling Stone article... 2009/07/16 19:19:46 (permalink)
    badboy007

    What is TA fellas?

    Of course it is sensationalist and for the masses, it was in Rolling Stone magazine. It was a better read than most of the stuff in The Economist (Yawn)


    Technical Analysis. Looking at charts etc and trying to extrapolate a trend so you know when to buy/sell shares.
    #20
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