The Glass–Steagall Act prevented banks from engaging in riskier financial transactions by putting a wall between investment banks (Goldman Sachs) and commercial banks (your local community bank).
That's why we didn't have a collateralized mortgage debt obligations or any of those other fancy financial instruments until after 1999 when the act was repealed.
But none of that is related to the issue of oil prices and recessions.
PeakOil is You
4% of GDP is $80 oil = Recession
Re: 4% of GDP is $80 oil = Recession
by Tyler_JC » Mon 08 Feb 2010, 13:37:56
"www.peakoil.com is the Myspace of the Apocalypse."
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Re: Shadow Stats
by Olaf » Mon 08 Feb 2010, 16:27:17
$this->bbcode_second_pass_quote('Tanada', '')$this->bbcode_second_pass_quote('Olaf', 'I')nteresting web page that I came across. Someone has probably posted it before, but thought I would share.
http://www.shadowstats.com/
Olaf
http://www.shadowstats.com/
Olaf
Thank you Olaf, this is the site I was thinking of earlier when I was talking about how distorted our current set of government approved and released stats are for things like GDP.
Don't mention it.
Peak Oil, Housing bubble. Just different recipes for the same sh!t sandwich. Now we all have to eat it. Ketchup?
I think the housing bubble was going to happen regardless of oil prices last year, but many people got significantly more crunched by the combination of the two. We can lose ourselves in the numbers and charts, cross examining data, defining and redefining terms, etc. (and that has its uses). Just don't forget the forest for the trees.
Olaf
Last edited by Olaf on Mon 08 Feb 2010, 17:35:03, edited 1 time in total.
- Olaf
Re: 4% of GDP is $80 oil = Recession
by mos6507 » Mon 08 Feb 2010, 16:58:59
$this->bbcode_second_pass_quote('rangerone314', '
')And that does make you wonder if there wasn't some sort of backdoor agreement where oil prices are kept low in exchange for US pushing Saddam out of Kuwait and away from Saudi Arabia...
')And that does make you wonder if there wasn't some sort of backdoor agreement where oil prices are kept low in exchange for US pushing Saddam out of Kuwait and away from Saudi Arabia...
Occam's razor tells me to filter out such tinfoil.
- mos6507
Re: 4% of GDP is $80 oil = Recession
by rangerone314 » Mon 08 Feb 2010, 17:18:43
$this->bbcode_second_pass_quote('mos6507', '')$this->bbcode_second_pass_quote('rangerone314', '
')And that does make you wonder if there wasn't some sort of backdoor agreement where oil prices are kept low in exchange for US pushing Saddam out of Kuwait and away from Saudi Arabia...
')And that does make you wonder if there wasn't some sort of backdoor agreement where oil prices are kept low in exchange for US pushing Saddam out of Kuwait and away from Saudi Arabia...
Occam's razor tells me to filter out such tinfoil.
I know, I just tossed that one out there... I'm not saying there was or wasn't.
I always look sideways at something when things are too convenient.
An ideology is by definition not a search for TRUTH-but a search for PROOF that its point of view is right
Equals barter and negotiate-people with power just take
You cant defend freedom by eliminating it-unknown
Our elected reps should wear sponsor patches on their suits so we know who they represent-like Nascar-Roy
Equals barter and negotiate-people with power just take
You cant defend freedom by eliminating it-unknown
Our elected reps should wear sponsor patches on their suits so we know who they represent-like Nascar-Roy
-
rangerone314 - Light Sweet Crude
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