9 Comments
Mar 17Liked by David Gosselin

The trouble is we make it far too easy for the selfish and greedy to be selfish and greedy, and, indeed, positively encourage them to do their worst, whilst discouraging the prudent and the principled, and making it as difficult as possible for those with integrity.

It's a pity more of this sort of critique doesn't turn up in contemporary poetry. After all Dante managed it and Shakespeare and Pound and Eliot and Auden. It can be done.

Poetry has a great deal to do with countering this. And speaking up on behalf of all that is sensible and sane. And encouraging a more honest relationship between man and the bounty of nature.

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If we have savings in the bank what should we do with the money before the collapse?

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Solon’s ‘poetic’ constitution is so apropos for describing today’s crisis “from arrogance great woes shall suffer” and to our lack of ‘poetic’ leadership.

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Hongkong and Shanghai Banking Corporation (HSBC) is acquiring Silicon Valley Bank’s U.K. arm... HSBC got in trouble for laundering drug cartel money . . .

What's wrong with this picture? Former FBI director James Comey was on their board of directors, and former US Attorney General Loretta Lynch let HSBC off the hook with a small fine.

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A very clear and logical assessment of our present situation laced with some excellent wisdom from history.

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A bank is essentially a set of social relations. For example, a family takes a mortgage to buy a house. A trader orders goods from another country. A worker pays into a pension plan.

If a bank goes under, these rights and obligations shift to a buying bank. The buying bank knows less about the people involved making the transfer costly and inefficient. The relations themselves cannot disappear, because they are society. There will be a family needing a place to live, a foreigner demanding payment, and a pensioner requiring sustenance.

As it happens our social relations are out of balance. Many more people have claims on future goods then there are future goods. You can promise everyone a good pension, but if there are not enough goods, then this cannot happen.

A decimation and redistribution of claims on the future looks inevitable. Let's hope we find a good Solon of our own to implement it!

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Please consider pooled investments as worse than the singular forms, which are damning of themselves.

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