Royal Bank of Scotland to investors: 'Sell everything'

They CAUSED what happened in 2008. They did MORE of what caused a giant credit mess that culminated with 2008 (and that hasn't gone away!). Way more of it. It was cowardly -- rather than face the medicine of what THEY caused through their stupidity, they doomed us to a much worse "destroying the lives of exponentially more people" at a later time. The hole they dug is that much deeper now. They took something bad. ... and made it worse.

Think this through. Yes, after 2008, we needed a massive deleveraging, complete with a lot of pain. It would not have been an 8 year period of pain if history is a guide. But yes, there is a price to pay when you create a very negative credit event via shortsighted behavior.

You seem to get this. Why would you believe that the answer to a credit problem is to embark on every scheme possible to create MORE credit to try to put off paying the price for the debt mess you created? And what do you think the inevitable end game of that behavior is?

 

What I actually believe. ... is that was an asshole thing to post.

But yeah, I get that your default is to point out what a caring, paternalistic human being you are who has the prescription to bring joy to the world. ... and that anyone who doesn't want that brand of paternalism that has made a complete mess of peoples' lives is in favor of [insert something bad].

I actually want to save people from the mess you are arguing for (without any ability to actually make a REASONED argument; reach into your book of platitudes), and the negative impact it has had on many lives.

When millions of pensioners who have been robbed over the last decade to encourage more and more debt, can't retire because their pension funds couldn't generate the yield an environment of risk-free return has historically offered. ... come back and tell us how fucking caring you are.

 

Era of Low Interest Rates Hammers Millions of Pensions Around World

#realworldconsquences

Pension funds and insurers at risk from low interest rates, says IMF

#theories

These 3 charts explain the terrifying math behind pension funds’ shortfall

#freemarketfantasies

I can post 10,000 words. Or I can LINK to to things that point out reality -- many more where those comes from.

The conversations on this message board sometimes defy reality. I post something substantative. ... and cranberry gives me platitudes that ignore the world around him or the realities I pointed out.

Of course, it is just going to take an insurance company going insolvent before cranberry recognizes the cause and effect that was PREDICTABLE. I mean slam a door on your finger. ... and then act surprised at what happens to your finger.

But shame on me for pointing it out while it is happening. Because the miserable reality pension funds (all savers) are struggling with, for example, is just my "free market fantasy." They either have been decimated or they have been forced into very risky behavior that is a disaster waiting to happen. But shit, when that disaster happens, the arsonist will ride in on the fire truck promising to fix everything. And cranberry will cheer. But give me another hyperbolic platitude -- you haven't used "saved the world" lately. Or better yet, tell me how caring you are compared to me -- while you encourage something that has fucked over savers and put an anchor on the global economy. ... in order to encourage a mindless debt binge that was predicated on the REAL fantasy -- that it comes without a terrible price.