Friday, September 30, 2011

Wall Street is Responsible for Today's Economic Crisis

The same entity that caused the 1929 crisis; Wall Street

Basically Wall street speculative activities burned up at least 40% of world wealth; aftershocks such as Lehman's collapse and dubious practices such as Blackrock have lead to the present state of things which will last for at least a decade.

Wall street is now publishing silly articles trying to blame nations for the current world trials and tribulations, but the guilty party is Wall street and those that removed regulatory constraints allowing Wall street to do what it did.

Capitalism has to do with innovative production. Google is capitalism in its best form.

Wall street speculation is parasytic behaviour chewing away at the foundations of capitalism and innovation, which will have detrimental results if left unchecked.

"Wall Street, in these matters, is like a lovely and accomplished woman who must wear black cotton stockings, heavy woollen underwear, and parade her knowledge as a cook because, unhappily, her supreme accomplishment is as a harlot." The Great Crash: 1929", John Kenneth Galbraith, First Published 1955, Page 47

Wall Street in its finest hour

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