Live Documentary: Fiscal Abyss of the 21st century, thanks to unfettered welfare liberal democracy.

Haagen Diaz wrote:

Thread topic: Money printing (/borrowing) by Singapore government- how much is too much?
TS, where do you get the knowledge on this? Just from MAS website? I'm damn interested to know more. Thanks. I prefer to read a book in order to get the whole picture.

Appreciate your expression of interest on this topic.

Suggest watching:
Inside Job (2010): https://vimeo.com/54817244

Quote:

Inside Job (2010)
from THELIGHT
DOCUMENTARY : 'Inside Job' provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.

And perhaps:

Quote:

Money, Power and Wall Street
Time : 10:30 PM
Duration : 29 mins
Desc : Since 2008, Wall Street and Washington have fought against the tide of the fiercest crisis since the Great Depression. What have they wrought? This special series finds out the inside story of the struggles to rescue and repair a shattered economy.
Buy: FRONTLINE: Money, Power and Wall Street DVD - shopPBS.org

- the latter is still showing on CNA, 1030pm; think the 2 same concern.

In short, US bankers had succeeded in making congress, prior to 2008, permit them to buy, with various savings account monies transferred into their investment arms, CDO (collective debt obligations) which we all know, circa 2008, were renamed toxic debt whose opaque value was tagged to the burst property bubble in the USA.

Acknowledging their responsibility for the past lack of regulation over the now too big to fail (and too big to jail) banks, congress had thus no choice but to agree with Sec of Treasury Pall Hanson to BAIL OUT THE BANKS at the cost of (AFAIK: USD5T++) or else face public mayhem with a total collapse of the financial system with a run on practically every main bank.

So US congress did the necessary and patched the holes in the banking dam, using cash raised from the higher dam (US Treasury viz selling of treasuries).

And that's why China is now warning of a massive US collapse- turning a fiscal cliff into a fiscal abyss... ['China on ‘fiscal cliff’ deal: US kicking can towards ‘fiscal abyss’'(FPeconomy, 03Jan2013)]

Liberty found its way then lost it again... if U asked me, I'd say that the best way froward is religion without specifying as yet which (anyhow, I believe that the founding fathers of the USA were all deeply religious(Christian etc)).

Then again, all U asked about is the fiscal cliff/ abyss, and Nouriel Roubini writes well too.

Just my 2c,
All the best,
C6.
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HWZ:
15Jan2013: Money printing (/borrowing) by Singapore government- how much is too much?
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15Jan2013: Money printing (/borrowing) by Singapore government- how much is too much?

15Jan2013: Money printing (/borrowing) by Singapore government- how much is too much?
15Jan2013: Money printing (/borrowing) by Singapore government- how much is too much?
15Jan2013: Money printing (/borrowing) by Singapore government- how much is too much?