this isn't by any chance a derivatives monster, is it?

i've been trying to figure out what it is since i saved the picture.



EDIT: also, do not correct my tenses on this forum.

You know about the 'derivatives monster'? and the horrifying amount of money it's worth?
- sanfordnson

I think "worth" should've been in quotes as well.

I'm betting in thirty years or so the words "worth" and "money" will not show up in a sentence withou the suffix "less".

this isn't by any chance a derivatives monster, is it?

i've been trying to figure out what it is since i saved the picture.



EDIT: also, do not correct my tenses on this forum.
- kicksave856

I think "worth" should've been in quotes as well.

I'm betting in thirty years or so the words "worth" and "money" will not show up in a sentence withou the suffix "less".
- Pikey

How about, 'represents a worth of'? 688 trillion last time I checked. More money than current liquid assets available worldwide. our financial system scares the poop out of me.

How about, 'represents a worth of'? 688 trillion last time I checked. More money than current liquid assets available worldwide. our financial system scares the poop out of me.
- sanfordnson

"Has the appearance of worth for now" would be better but yes I agree the financial system we have makes no (frank)ing sense and it's obviously going to fail eventually unless somehow all desired items in the world become unlimited and available.

*anticipation builds*

*anticipation builds*
- kicksave856

Just don't owe anybody anything ever.

"Has the appearance of worth for now" would be better but yes I agree the financial system we have makes no (frank)ing sense and it's obviously going to fail eventually unless somehow all desired items in the world become unlimited and available.
- Pikey

This conversation has some real potential.

Tell me, Pikey, what is your opinion on mortgage backed securities? I personally feel they directly contributed to the collapse of the american real estate market. You?

Human beings deserve whatever they get.

Dogs are likeable.
- Pikey

Dogs are fags that can go (frank) themselves.

Why should a dog know that? A person should know that and call the dog away before hand. If anyone should be kicked in the head by animals (I didn't even see the vid) it should be people. Constantly. Starting with this person:


- Pikey

Now this we can agree on.

Now this we can agree on.
- Prax

Don't interrupt fatso.

This conversation has some real potential.

Tell me, Pikey, what is your opinion on mortgage backed securities? I personally feel they directly contributed to the collapse of the american real estate market. You?
- sanfordnson

I believe the existence of mortgages directly contributed to the collapse of the american real estate market, let alone anyone making secondary profits or indirect profits off the mortgages.

Just don't owe anybody anything ever.
- Pikey

wait. what?

edit: oh, sorry. my pizza came and i forget what you guys were actually talking about. i just wanted to see a fight.

wait. what?
- kicksave856

- Pikey

I believe the existence of mortgages directly contributed to the collapse of the american real estate market, let alone anyone making secondary profits or indirect profits off the mortgages.
- Pikey

Well it was all about the securities being backed by the values of mortgages that had been given to people who couldn't afford them in the first place. After the real estate bubble burst all these toxic assets were already global and essentially worthless, which in turn led to all the troubles faced by financial monoliths like Bear-Stearns, Fannie Mae and Freddie Mac and Lehman Bros. just to name a few.

Would you believe that the roots of many of these problems can be traced clear back to Reagan, with Bill Clinton and a group called 'Acorn' really kicking it all into high gear?

Well it was all about the securities being backed by the values of mortgages that had been given to people who couldn't afford them in the first place. After the real estate bubble burst all these toxic assets were already global and essentially worthless, which in turn led to all the troubles faced by financial monoliths like Bear-Stearns, Fannie Mae and Freddie Mac and Lehman Bros. just to name a few.

Would you believe that the roots of many of these problems can be traced clear back to Reagan, with Bill Clinton and a group called 'Acorn' really kicking it all into high gear?
- sanfordnson

I would believe the roots of these troubles date back to the end of the Jefferson administration.

It's not just about giving mortgages to people who can't afford them (which, yes, obviously happened). It's about giving mortgages at all. Money should never be lent unless for reasons of direct investment. A home is not an investment, it is an expense. It used to be considered an expense until everyone was convinced they could get rich just by purchasing a place to live. Ironically, the social programs put into place to make everyone able to own a home have caused the housing prices to skyrocket. If nobody took on debt to own their home, the prices would be sane and people could save up for their homes.

I would believe the roots of these troubles date back to the end of the Jefferson administration.

It's not just about giving mortgages to people who can't afford them (which, yes, obviously happened). It's about giving mortgages at all. Money should never be lent unless for reasons of direct investment. A home is not an investment, it is an expense. It used to be considered an expense until everyone was convinced they could get rich just by purchasing a place to live. Ironically, the social programs put into place to make everyone able to own a home have caused the housing prices to skyrocket. If nobody took on debt to own their home, the prices would be sane and people could save up for their homes.
- Pikey

Would you consider yourself a populist?

Would you consider yourself a populist?
- sanfordnson

God no.

I like free markets with no social meddling except for the enforcement of criminal law (little things that protect markets like fraud - which our lending and finance system basically is - and theft legislation...things we don't seem to care about these days).

Would you consider yourself a populist?
- sanfordnson

does that mean asshole?

cause if it does that wasn't very nice.

does that mean asshole?

cause if it does that wasn't very nice.
- kicksave856

It does depending who you ask.

God no.

I like free markets with no social meddling except for the enforcement of criminal law (little things that protect markets like fraud - which our lending and finance system basically is - and theft legislation...things we don't seem to care about these days).
- Pikey

I like your concept, but I think the current financial system is so embedded and has taken such a long period of time to get where it is that nothing short of complete financial collapse will cause it to change.

So more of a libertarian then?

I like your concept, but I think the current financial system is so embedded and has taken such a long period of time to get where it is that nothing short of complete financial collapse will cause it to change.

So more of a libertarian then?
- sanfordnson

Oh absolutely a libertarian. I like individualism, austrian economics, Thomas Paine, the whole bit.

I think you're probably right about the financial system not going anywhere until there's a total collapse but I don't think it's because it's so embedded. I think it's because people are apathetic and amused by iPhones.

Oh absolutely a libertarian. I like individualism, austrian economics, Thomas Paine, the whole bit.

I think you're probably right about the financial system not going anywhere until there's a total collapse but I don't think it's because it's so embedded. I think it's because people are apathetic and amused by iPhones.
- Pikey

Oh absolutely a libertarian. I like individualism, austrian economics, Thomas Paine, the whole bit.

I think you're probably right about the financial system not going anywhere until there's a total collapse but I don't think it's because it's so embedded. I think it's because people are apathetic and amused by iPhones.
- Pikey

I hate iPhones.