Troublemane
Well-Known Member
here's a different view.
US faces same problems as Greece, says Bank of England – Telegraph Blogs
US faces same problems as Greece, says Bank of England – Telegraph Blogs
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Perhaps, you would be more of a friend if you wished him never to let his self-interest compromise his objectivity. Just a thought.
Note in the article, the entire reason we should be bailing out greece is to save the banks. We are being told repeatedly, if the banks fail, then civilization as we know it is doomed! DOOMED I SAY!....:biglaugh:
Even the most libertarian people in the administration at the time of the meltdown (2008), knew that we had to save the banks.
How many more bailouts should the Public/Government give to the banks? Hasn't the US already bailed them out twice in the past 2 years?
Personally I think Wall Street should've have just collapsed, we should nationalize our Banks and have firm control over what they do.
That would be an even worse situation, IMO. Right now the government cannot print money at will, it has to borrow it. So at least right now we can know how much the debt is. If the government had direct ability to simply print as much as it needs each year, we would fall apart even faster.
But I otherwise agree with the sentiment. I think I have had a revelation over all this...YES! We should let the banks just collapse! So what if people's savings are lost! So what if people's 401k's are wiped out! The majority of the people in the world live in poverty, and would not notice one bit!
Plus...it would also erase people's mortgages. Student loans. Personal debt. I am starting to see the fall of the banks as a good thing. I mean, it is going to happen eventually, because thats what fiat currency does. The only reason it has lasted this long (barely 100 years, with the creation of the Fed in 1913), is because through the IMF they have pulled the entire world into debt with us.
But!...heres the cool thing....maybe the meek shall inherit the Earth.
When the banks fall, the only people hurt will be the ones heavily invested in the stock market. People with huge mansions. The working class, who live from check to check, will be fine, because when the big banks fall apart, there will then be an opening for private, smaller credit-union type banks to take up the slack. Maybe then we go back to a more localized economic model?...I can only hope so, as Congress didn't have the nads to break up the banks when they had the chance.
Perhaps, you would be more of a friend if you wished him never to let his self-interest compromise his objectivity. Just a thought.
That's good advice too, but I just recognized in him some of myself at his age.
Was listening to a radio program (on NPR) this morning, they mentioned that in the new bill set to pay for the war in Afghanistan there is a provision to cancel 200 million of Haiti's debt.
This thread doesn't give me much hope for America's continued existence. The whole Reagan and Carter debate of spending and taxing is proof that apparently people either cannot read simply charts, statistics, and history pages and cannot do alittle research to find what really happened; or it proves that history was written twice, which is worse than it being written by the winners, because then we can't even estimate a prediction of the future.
The hardcore two party system is destroying America. Any real progress will be hindered by one of the parties, one set of policies will never satisfy everyone, and it's a waste of time and money to keep bringing the same issues up to reverse the decision of whoever was last (abortion for example), and people will keep fighting and insisting that their party was right, always, and the other party is always wrong.
But no, there is no real threat of inflation. Inflation takes a large increase in money to be triggered, which causes an imbalance in the economy. Having only taken Economics 101 means I do not know much about how an economy functions, but even I know what really causes inflation. It's not government spending or deficit (which our federal government has NEVER used black ink for their budget, that is American History 101), but how much money the government prints, a decrease in the demand for money (which isn't likely to happen in a consumer driven society), or a spike in the demand for goods or drop in the supply of goods. Now since the aspects of supply and demand revolve around the materials that are used to make a good, failed crops, bountiful harvests, etc., and are on a per item basis (a shortage in copper will make wires and electronics go up, a drought will raise the price for crops), and since those do not apply to our situation, then any fears of inflation are irrational.
America has pardoned less deserving nations in the past. Haiti can't afford a pot to pee in. We might as well since they never will be able to pay us back, and if we expect them to pay us back, even in small increments, it will just be sucking up money that they can use more than we can. But America pardoned Germany of it's war debts, even though they had alot to do with WWI and II.Some would say, thats good. We need to do that. I mean, poor Haiti, right? Of course it's not right to try and hold them to their debts, when the country is wrecked.
That's what the financial reform bill is for. It isn't the "bail out" bill Republicans are claiming it is.Hmmmmm,....maybe if governments stopped bailing out these banks, they might some day start being more RESPONSIBLE with their money? I mean, what if they had to carry insurance? That was privately held insurance, not government backed. You know, if there was an insurance agency which insured banks, and was not government supported. Then the banks would be scrutinized, and held to a much higher standard, because they would not be insured if they didn't follow the rules precisely.
Some would say, thats good. We need to do that. I mean, poor Haiti, right? Of course it's not right to try and hold them to their debts, when the country is wrecked.
But what is that 200 million really about? Is it saving Haiti? Or is it another bailout, of a bank that has loaned money and wants it back now, with interest? I mean, there is no way Haiti could repay it. So....without the bailout money, the bank would have to write the loan off their books, and then what?
Hmmmmm,....maybe if governments stopped bailing out these banks, they might some day start being more RESPONSIBLE with their money? I mean, what if they had to carry insurance? That was privately held insurance, not government backed. You know, if there was an insurance agency which insured banks, and was not government supported. Then the banks would be scrutinized, and held to a much higher standard, because they would not be insured if they didn't follow the rules precisely.
However, the way the game is played right now, the media says "We have to save GREECE"...when it isnt really Greece we are saving, but the BANKS they owe money too. I don't imagine that would generate much sympathy, though. :angel2:
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Actually, my friend the $50 trillion mark I've read from untold numerous journalists. IF you really truly believe that Japan is "fine"... well, I can't really say much in describing red to a blind person. And if the collapse of the British Empire does not strike fear into you for the fact it caused revolutionary bloodshed everywhere oppressed peoples attempted to achieve liberation--then you are just... well, your pic says everything.