I really dont think any of them ‘knew’ this was coming, with the possible exception of some bankers.[/quote]
you do realize this negates your whole rant, right? Or did you set up your own straw man, one with hundreds if not thousands of conspirators? Kind of constructing our own impossible scenario.
People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, -Adam Smith
what you state is perfectly compatible with what CAR theorizes. It does not have to be either or. Bubbles are not a new socio-psychological phenomena and have been well understood for decades if not longer. It’s quite possible, at some level, the whole thing could have been “game theorized” before hand. Responses to crises become predictable, even foreseeable—within an acceptable range of probabilities. It’s kind of creepy that political and public reactions could have been anticipated beforehand, but also very possible and likely.
Though, I do agree with you. The human race has its auto-pilot set to IDIOCY, and the path towards idiocy has significant stops in chaos, foolishness, and destructiveness. This however, does not mean that some people do not capitalize on the idiocy, every step of the way.
It’s very well known that the bubble was well understood amongst insiders at least in early 2004. Paulson was confronted with an email stating such in an interview. Even low levels in Wall Street were laughing at the gullibility of “investors” way before 2007. Both Greenspan and Bernake were out pimping the market at the very peak. Which if they actually knew what they were saying was untrue would be punishable with up to 30 years in jail. But we just blindly accept that they were idiots and us here at piggingtons are so so smart.
Interestingly, if you have followed the oil story along with the bubble story . It kind of followed the same exact narrative from officialdom. One of denial until it’s just impossible to deny any more.
Really, the history of history is really one conspiracy after another. Wealth and power necessitate it. Those who seek wealth and power will conspire to attain what they seek. PERIOD. That is just the world we live in.
