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Roubini Says U.S. Financial Industry Facing `Disaster'

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    baby_boomer wrote: »
    not to the same extent since government jobs and unemployment insurance provide a safety net for the wider economy that didn't exist in 1929.

    Those do also have to be paid for, however.

    In 1929, there was extensive unemployment insurance, in the UK, anyway. It was tough, and people had to sell off possessions to get it, but it definintely existed.

    There were also lots of govt. jobs - history GCSE tells me that teachers had to take quite a big paycut.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    baby_boomer wrote: »
    In 1929 they didn't have economists. Or rather there was one but they ignored him.

    There had been loads of economists by 1929!
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Gorgeous_George wrote: »
    If money disappeared overnight, would it really matter?

    I doubt it.

    Root of all evil

    A misquotation, surely? The love of money is the root of all evil, not money itself.

    Found it - Timothy 6:

    For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
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