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1 Romantic Heretic  Tue, Apr 9, 2013 5:41:21am

Snerk. That was a fun and interesting read.

I’ll also note that Eve Online was where two of the biggest dick moves in gaming, according to Cracked, took place.

2 Aligarr  Tue, Apr 9, 2013 4:57:13pm

I could have predicted the great recession . What people forget is that the recession was a direct result of corruption and greed , thus it was NOT a nutural occurring economic factor . Derivitives , Insurance swaps and trading products many of which the sellers themselves did not fully understand , were sold WORLDWIDE . Bad bets were insured , and insurers could not cover the bets , and that do to manipulation by Wall Street of the two words Insurance and Swaps . Swaps did not require the same liquidity as ” insurance ” but WERE by any other definition INSURANCE .
If that alone was not bad enough , and it was, the housing bubble fueled by bad sub prime and toxic loans and the illegal loan practices savings banks and Equity firms engaged in , ran rampant and UNCHECKED . It didn’t take any finacial genius to realize that it was a huge monstrous game of musical chairs ,where everyone thought someone else would be out of a chair before the music inevitably stopped . I am not all thay astute in these things , but in early 2005 ,when someone offered me almost 5x’s what I paid for my house in ’ 94 . That was yellow alert and I moved all my investments out of anything that had to do with the housing market . I lost only 19k out of a 560k portfolio , which has been regained 2x’s over since 08 . So what did Eve predict ? Never heard of them .

3 Charleston Chew  Wed, Apr 10, 2013 7:18:54am

re: #2 Aligarr

It didn’t take EVE Online to predict the real estate bubble bursting. You site being offered too much money for your house as a warning. My personal “canary in the coal mine” was the proliferation of house flipping shows on tv.

The focus of the article is about a specific example of how charging a high fee on real estate in a virtual world reduced speculation as increases stability and how that compares to the effect of property tax in the real world.

4 Aligarr  Wed, Apr 10, 2013 7:33:03pm

“How EVE ONLINE Predicted the Great Recession “

Reduction of revenue for municipalities visa vis foreclosures , inevitably caused by loss of property tax revenue . The Cause ? Real Estate bubble - the mechanism ? Substandard toxic loans= easy money = speculation inflated values on real estate - massive investments and peculiar investment products based in those bad loans .

5 Charleston Chew  Thu, Apr 11, 2013 9:02:28am

re: #4 Aligarr

Okay, dude. You… win?

6 Aligarr  Sat, Apr 13, 2013 6:38:41am

No really , I do see your point , because it works both ways . A great example occurred right across the street from me . Same house [diff.color ] bought for the same original price $149k , resold in the middle of the bubble for $350k , got a real estate tax boost of almost 100% . I’m paying $1600 per yr . , the neighbor , who bought at $350k ? is Paying $2900 per yr.
The tax collector was happy , municipalities figured their budgets [and overspent ] based on those irational $$$ with the notion prices would stay high forever . This inturn caused States to invest pension funds and municipla bonds based on TWO false premises , 1 -real estate prices reflected reality 2- investing in Wall Street products with high returns and no warnings of high risk ,visa vis , grouping and reselling of mortgages with substandards and toxis loans , in turn spreading the poison WORLDWIDE .
Heavy betting by Wall Street weasels -swaps and derivitives that these investments would in fact fail , but thinking all the time they were ” insured ” . But the term “swaps ” allows the insurers to do this without meeting liquidity standards and regulations required for Insurance Companies , because after all they were not insurance companies , merely by use of the term ” swaps ” . Everyone threw their chips into these high return investments , including Banks which used the Equity of investors and stockholders . And All were involved from top to bottom and ALL thought they could get out before the music stopped . All were warned by knowlegdeable Economists and honest experts , but Bush ‘s SEC watchdogs in the offices right next door were too incompetent to see it , and GREENSPAN didn’t want to break up the feeding frenzy . Republicans and Democrats alike were too busy getting their cauffers filled with lobby money to make legislation which spread and perpetuated the circus . AND NOW THEY’RE DOING IT AGAIN . How ? Look at the fiber optic cable being installed at precise and strategic distances from Wall Street Mainframes ! Attached to ultra high capacity /fast servors which execute millions of trades per second , reacting to penny changes , to suck up every last dime . This should be outlawed . Wall Street which should be a source of capital for America’s buinesses , is now a gigantic get rich quick game for the “fastest players ” . Big ” sells ” caused drops which in turn trigger big buys , even for penny’s which turn out to be big profits in the scale of millions of transactions .

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