Comments on: No one wants to hold risk … http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/ Sat, 21 Nov 2009 16:40:10 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Krestort http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-129499 Krestort Thu, 23 Apr 2009 11:35:34 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-129499 Recently one of my friends started an obsession with the actor Nicholas Cage (mostly because their names are both Nicholas - sounds strange but he is strange and that isn't the point). After asking around the rest of my friends he seems to be a very controversial figure. What does the forum think? do you love the all action superhero? Or do you hate the droning voice of the man who does nothing but action shooters? Recently one of my friends started an obsession with the actor Nicholas Cage (mostly because their names are both Nicholas – sounds strange but he is strange and that isn’t the point). After asking around the rest of my friends he seems to be a very controversial figure.
What does the forum think? do you love the all action superhero? Or do you hate the droning voice of the man who does nothing but action shooters?

]]> By: Cymnentedum http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-115852 Cymnentedum Tue, 21 Oct 2008 17:41:37 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-115852 Hello! <a href="http://www.citeulike.org/profile/apekoff" rel="nofollow">generic soft tabs cialis</a> Hello! generic soft tabs cialis

]]> By: 3 Month Treasury Bill Yield Reached .03% at Curious Cat Investing and Economics Blog http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113278 3 Month Treasury Bill Yield Reached .03% at Curious Cat Investing and Economics Blog Mon, 22 Sep 2008 12:15:32 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113278 [...] No one wants to hold risk … - “I guess this is what a close to systemic financial crisis in the US looks [...] [...] No one wants to hold risk … – “I guess this is what a close to systemic financial crisis in the US looks [...]

]]> By: KnotRP http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113131 KnotRP Sat, 20 Sep 2008 16:49:12 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113131 I would add that blame is an uninteresting concept, unless one plans to have ill gotten gains disgorged. I don't see that happening, so... I would add that blame is an uninteresting concept, unless one plans to have ill gotten gains disgorged. I don’t see that happening, so…

]]> By: KnotRP http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113129 KnotRP Sat, 20 Sep 2008 16:47:08 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113129 "...then all governments are blameless." I'm willing to assign blame to the citizens, if they vote in the government that's not doing the right thing. Do we agree now? As for dictators - they have concentrated executive power, so I'm perfectly willing to blame dictators for their actions. “…then all governments are blameless.”

I’m willing to assign blame to the citizens,
if they vote in the government that’s not
doing the right thing. Do we agree now?

As for dictators – they have concentrated
executive power, so I’m perfectly willing to
blame dictators for their actions.

]]> By: Ian Hurst http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113105 Ian Hurst Fri, 19 Sep 2008 20:27:45 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113105 KnotRP: "The US government isn’t a thinking entity, imho." And? If that kind of reasoning deflects blame, then all governments are blameless. Even petty dictatorships. It's not like Kim Jong Il personally signs every check his government writes. So now we're all blameless, yay! Except, no, I was responding to the ridiculous blame-flinging going on earlier in this thread. It ain't all China's fault. It ain't all America's fault. Each voluntarily entered agreements that are now screwing everyone. Adults take responsibility for their own choices. Children don't. I know which group I belong to - in this argument, anyway. KnotRP: “The US government isn’t a thinking entity, imho.”

And? If that kind of reasoning deflects blame, then all governments are blameless. Even petty dictatorships. It’s not like Kim Jong Il personally signs every check his government writes.

So now we’re all blameless, yay! Except, no, I was responding to the ridiculous blame-flinging going on earlier in this thread. It ain’t all China’s fault. It ain’t all America’s fault. Each voluntarily entered agreements that are now screwing everyone.

Adults take responsibility for their own choices. Children don’t. I know which group I belong to – in this argument, anyway.

]]> By: KnotRP http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113083 KnotRP Fri, 19 Sep 2008 17:24:23 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113083 Ian - ok, so I see were you are coming from now. You have a reasonable position staked out, but I also have a lower appraisal of the situation than you. The US government isn't a thinking entity, imho. It doesn't act like an intelligent being. It's a collection of individuals working to wrangle their slice of the tax payer....it's not thinking about the damage to the tax payer from overgrazing, offshoring, or anything else....in that sense, it's inanimate. There is no long term, in DC. There is only the now and what's in it for "me" (and the lobby behind "me"). So you want to blame the US government? Go ahead. I won't quibble. But it seems meaningless to me....like blaming a toaster for not producing a cup of coffee. it's simply not organized to make good long term choices for the US citizen. It's organized to maximize extraction. It's doing what it was designed to do....but too well (or the host it's feeding off is becoming too weak to sustain it). The parasite needs to be careful to not kill the host, but I just don't see how the US government does that, organizationally...it's just not built into the system. Ian – ok, so I see were you are coming from now. You have a reasonable position staked out, but I also have a lower appraisal of the situation than you. The US government isn’t a thinking entity, imho. It doesn’t act like an intelligent being. It’s a collection of individuals working to wrangle their slice of the tax payer….it’s not thinking about the damage to the tax payer from overgrazing, offshoring, or anything else….in that sense, it’s inanimate. There is no long term, in DC. There is only the now and what’s in it for “me” (and the lobby behind “me”).

So you want to blame the US government?
Go ahead. I won’t quibble. But it seems meaningless to me….like blaming a toaster for not producing a cup of coffee. it’s simply not organized to make good long term choices for the US citizen. It’s organized to maximize extraction. It’s doing what it was designed to do….but too well (or the host it’s feeding off is becoming too weak to sustain it). The parasite
needs to be careful to not kill the host, but I
just don’t see how the US government does that, organizationally…it’s just not built into the system.

]]> By: Ian Hurst http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113064 Ian Hurst Fri, 19 Sep 2008 14:09:35 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113064 KnotRP: "I warned that we might get jammed up like that, many moons ago in this blog’s comment section." So, if you knew the borrowing was reckless, and I knew the borrowing was reckless, and Brad knew the borrowing was reckless, and just about everybody in the whole world knew the borrowing was reckless, what can possibly excuse the US government not knowing the borrowing was reckless? Are we really descending to this level of irresponsibility now? You can't say "you should have known better" to the government of the most powerful nation on Earth? But you somehow can say it to rising powers? Come on. That is an absurd hypocrisy. "You should have known better" is either a valid criticism of everyone or it's a valid criticism of no one. KnotRP: “I warned that we might get jammed up like that, many moons ago in this blog’s comment section.”

So, if you knew the borrowing was reckless, and I knew the borrowing was reckless, and Brad knew the borrowing was reckless, and just about everybody in the whole world knew the borrowing was reckless, what can possibly excuse the US government not knowing the borrowing was reckless?

Are we really descending to this level of irresponsibility now? You can’t say “you should have known better” to the government of the most powerful nation on Earth? But you somehow can say it to rising powers?

Come on. That is an absurd hypocrisy. “You should have known better” is either a valid criticism of everyone or it’s a valid criticism of no one.

]]> By: KnotRP http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113029 KnotRP Fri, 19 Sep 2008 05:38:53 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113029 What's more interesting is that the US government has apparently learned it cannot default on the Chinese (which is why it had to backstop the implicitly backed agency debt instead of giving it a hair cut). The US couldn't afford losing it's biggest financiers. I warned that we might get jammed up like that, many moons ago in this blog's comment section. What’s more interesting is that the US government has apparently learned it cannot default on the Chinese (which is why it had to backstop the implicitly backed agency debt instead of giving it a hair cut). The US couldn’t afford losing it’s biggest financiers. I warned that we might get jammed up like that, many moons ago in this blog’s comment section.

]]> By: KnotRP http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113028 KnotRP Fri, 19 Sep 2008 05:36:14 +0000 http://blogs.cfr.org/setser/2008/09/17/no-one-wants-to-hold-risk/#comment-113028 Must've skimmed too fast, Ian, so thanks for the clarification, but I still don't blame borrowers who know free money when they see it, even if it's in the form of the US government. It's much like "the first hit is free" in the drug trade....I argued before, on this blog, that the Chinese were practically making foie gras of the US. it's an attempt to set up a dependancy. If one knowingly loans money to someone who cannot possibly be good for it, I just cannot blame the borrower in that case, because the lender did not credibly rely on the borrower's ability to repay when making the loan. There was no "fool me once" event, so no original blame. Must’ve skimmed too fast, Ian, so thanks for the clarification, but I still don’t blame borrowers who know free money when they see it, even if it’s in the form of the US government. It’s much like “the first hit is free” in the drug trade….I argued before, on this blog, that the Chinese were practically making foie gras of the US. it’s an attempt to set up a dependancy. If one knowingly loans money to someone who cannot possibly be good for it, I just cannot blame the borrower in that case, because the lender did not credibly rely on the borrower’s ability to repay when making the loan. There was no “fool me once” event, so no original blame.

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