Of course Ed! That's the normal business cycle. But the concept has been corrupted by people never wanting to repay or ultimately give value.
I am sickened. For the years you and I have done good work (I'm ok now by the way for funding) and suggested to state and market that they have the vision to invest in things which generate wealth. The state let us down with NIH because big science was calling all the shots, whilst the market went after dotcom, Britney's tits and other flim-flam. It's the calibre of the people making these decisions left or right, though Bush may have been dropped on his head after the midwife delivered him. It all reminds of the film "The Fall of the Roman Empire" with, was it Sophia Loren or Rachel Welch? You know the scene at the end with the big hand icon and then the general saying "Who will be Emperor of the Roman Empire?" and then naming a price. Whoever gets it, it's a poisoned chalice... -----Original Message----- From: Edmund Storms [mailto:[EMAIL PROTECTED] Sent: 25 September 2008 19:52 To: vortex-l@eskimo.com Cc: Edmund Storms Subject: Re: [Vo]:Do do do doo. Do do do doo... Actually, credit is essential in an active economy. For example, suppose I want to start a business making widgets. Before I can get any income from their sale, I have to buy the machinery and hire people. This takes money up front, which must be borrowed. Once again, this is not rocket science. The problem is not the use of credit, it is the use of too much credit of the wrong kind. Normally the system is self regulating based on a bank taking responsibility for the loan and its repayment. This system broke down because a corrupt system was allow to grow in the US, mainly by the Bush administration. Again, this is a matter of fact, not opinion or liberal propaganda. Unless people acknowledge reality, there is no hope for a correction. Ed On Sep 25, 2008, at 12:17 PM, Remi Cornwall wrote: > I asked a friend once: "How do things get their price?" > > "The price of something is whatever someone is prepared to pay for > it." > > A false economy of credit is a house of cards. To me, in my simple > way of > thinking, money must ultimately come down to some form of barter for > labour > or resources. > > I just have the feeling that there are too many parasites, > speculators, > lifestyle gurus, interior designers, flim-flam and not enough people > being > rewarded for real work such as manufacture or agriculture - too much > service > sector. > > That bartering provides a means of living on the planet, right, at > its most > fundamental level? I break a leg then I need a medic, I need some > food then > I need a farmer, I need a house then I need a builder. I give > something in > return they decide if they need it or not. > > What happens when two pop music starlets need each other? - on a > cruise ship > imagine the cry, "someone is about to suffer a major rhythm defect, > is there > a pop musician in the house?" > > In times of economic collapse people barter skills or cigarettes. > > > There's then a whole level of life's luxuries that we are willing to > pay for > - trans fatty acid cream buns, big SUVS, keeping up with the > neighbours, > sports stars or movie stars that inherently have no value. > > Therein lies the problem of credit card applications dropping on the > doormat. > > -----Original Message----- > From: OrionWorks [mailto:[EMAIL PROTECTED] > Sent: 25 September 2008 18:52 > To: vortex-l@eskimo.com > Subject: Re: [Vo]:Do do do doo. Do do do doo... > > Sobering and provoking thoughts from Remi, Ed, and Terry. Gives me the > shudders. > > I find it curious that the consumer credit card industry doesn't seem > to have been mentioned in this mess, or perhaps I missed that aspect. > Considering the huge credit card debt load that our population has > accumulated over the years, the practice of enticing customers to > borrow more and more money to the point that a significant portion of > the population is now barely capable of making payments on the > principal, I can't help but wonder if that isn't a significant > contributing factor to the mess we are in. I'm constantly receiving > credit card offers in the mail, typically two or three a week. They > only have one goal: To get me in debt with them. Unfortunately, too > many people have done just that. It's absolutely disgusting. I wish > there was better regulation of the industry. > > We will pay for this mess. > > Answering Remi's prior question, I hold no position in industry or > academia. Walking the talk is a highly subjective matter. Having done > anything worth recognizing is also a highly subjective matter. And > what good works have I personally done? Also highly subjective. It > would seem that the older I've gotten, the more I've come to a > personal realization that there is so much I don't know, or > understand. But it's a start. > > Regards > Steven Vincent Johnson > www.OrionWorks.com > www.zazzle.com/orionworks > > >
