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portrait portrait

My name is Anders Floderus.

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The main content is two studies, of the subprime crisis (under work, unfinished posts are within parenthesis) and of marxism. Besides these, there are a few posts on me and on my site, a couple of unrelated posts and, in my native Swedish, a few posts of little general interest.

Me and my site (links)
A presentation of myself and a place for corrections and attributions if any. There are some lists to permit you to search for all posts in different ways.

The subprime crisis
Since at least the 1970s, the US has gone for deregulation. At least for the banks. The result is a change from rewarding success to rewarding failure, with more freedom and less risk for the bankers. As late as the 1990s, senior bank executives could go to jail; after the subprime crisis, only a few low level executives got some token prison sentences. To save the economy, maybe it was necessary to save the banks. Saving the bankers is incentivizing continued plunder and deceit.

With bank induced liar's loans, with accommodating appraisers and new types of securities, the banks made colossal profits selling subprime loans. When the bubble burst, the bankers kept their money. The losers were tax-payers, investors like pension funds, even their own banks. To make the most from what remained, the bankers came up with new tricks. Extracting unwarranted fees from the borrowers, provoking foreclosures, even foreclosing already paid homes. Destroying and robosigning documents. With the courts taking the side of the banks, the borrowers had little chance.

The bankers are touting great rewards for great risks but they only risk other people's money. Their enormous profits during the bubble made people believe they were brilliant, and in spite of the bubble bursting they are still touted as brilliant.

Marx and marxism
Mainly a short analysis of Karl Marx's Capital and Friedrich Engels' Anti-Dühring. Analysing Marx's "science". For him, "Science" only functions as a catchword to make people believe there is some substance behind his words. His labor based "real value" is not more "real" than a "real value" based on for example weight. His "great discovery", "the revelation of the secret of capitalistic production through surplus value", is nothing more than the discovery that the capitalist makes money.

Marx's laws are completely meaningless. According to him, it's a law that things are red; every time you see something red, the correctness of this law is confirmed. However, this law is only valid for things that are red. Likewise, every time you see a thing that is partly red, it confirms the dialectical law that things are at the same time both red and not red.
Introduction and a table of contents:

Mixed (links)
A few posts (very few) on the side.

In Swedish (links)
A few posts written in my native Swedish. Some thoughts of little general interest.

The photography
The picture is some years old, I hope it is not too misleading. The photographer is a relative, he wants to stay anonymous.

© Anders Floderus