Global Financial Crisis (24 Viewers)

[Bjerknes]

And big buisness in?

You're not getting it, dude. We already have that as well. Wall Street and the military industrial complex have hijacked Washington, and it's worse because the American people are held hostage by this corporate takeover. The government is compromised and therefore cannot regulate. As if it could do that job anyway...

 

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[Enron]

I'm not against regulation to an extent, obviously. And we also have to express what sort of regulation we're talking about here. If it is supposed regulation like that of the Federal Reserve that caused the housing bubble and overall debasement of our currency over the past decades, then no thanks.

A well-regulated market with transparency is the key IMO, as in shoving all the bad assets into a market to see what they're really worth. But instead the government allows banks to not only take taxpayer money to use in speculation, but also allows them to pull accounting fraud so that the shareholders (us) have no idea what they're doing.

Such "regulation" hasn't worked at all, and never will, because it's fraudulent.

The federal reserve doesn't regulate. It mandates.

 

[Enron]

You're not getting it, dude. We already have that as well. Wall Street and the military industrial complex have hijacked Washington, and it's worse because the American people are held hostage by this corporate takeover. The government is compromised and therefore cannot regulate. As if it could do that job anyway...

What form of regulation would take the government's place?

 

[Bjerknes]

The federal reserve doesn't regulate. It mandates.

They regulate the banking system, ie it was Turbo Tax Timmy who ran the New York Fed and was supposed to make sure what happened did not happen. Geithner and the New York Fed failed miserably at their job, but then he got a promotion.

That's the sign of a corrupt government.

 

[Enron]

They regulate the banking system, ie it was Turbo Tax Timmy who ran the New York Fed and was supposed to make sure what happened did not happen. Geithner and the New York Fed failed miserably at their job, but then he got a promotion.

That's the sign of a corrupt government.

I know that. I was agreeing with you. My comment was sarcastic.

 

[IrishZebra]

You're not getting it, dude. We already have that as well. Wall Street and the military industrial complex have hijacked Washington, and it's worse because the American people are held hostage by this corporate takeover. The government is compromised and therefore cannot regulate. As if it could do that job anyway...

So let me get this straight you recognise that you system is fucked beyond belief and that the pitfalls of your proposed economic policy are already present and yet you still advocate it?

I'll set out my stance in terms I can comprehend because I'm not a Economist:

• Proportionate,effective regulation
• Open Competition, Limited in vital sectors (Health,Public Transport,Energy, Utility)
• High tax on High earners ( over 150K)
• Low Corporation tax (business profits)
• Free Education,Health Care and Water Supply (nominal fees may apply)
• Smallest possible civil service with no ridiculous pensions
• No welfare without public service.

 

[Bjerknes]

So let me get this straight you recognise that you system is fucked beyond belief and that the pitfalls of your proposed economic policy are already present and yet you still advocate it?

No, not at all. The reason why I want government out of the markets is because this sort of corporate takeover would not happen. Taxpayers would not be held hostage by a few rogue bankers and the interests of the people would have a better chance of being respected.

The merger of corporate and state powers is the definition of Fascism coined by Mussolini. That is not the Austrian School. The latter protects against the forces of fascism and socialism by not allowing the government to be infiltrated by a group of rogues who only care about their own interests.

This is the problem we face in the United States, and we're being destroyed because of a weird mix of Keynesian economics and fascism which would not be possible with what I advocate.

 

[Bjerknes]

By the way, I looked back to the first page of this thread and noticed that Dusan created it on March 8th, 2009.

Ironically, that was the same date as the "bottom" of the S&P 500 and Dow Jones Industrial Average.

Perhaps we can call it the Dusan Juventuz indicator to buy/sell equities. When this thread is closed I'll know to short the market.

 

[IrishZebra]

No, not at all. The reason why I want government out of the markets is because this sort of corporate takeover would not happen. Taxpayers would not be held hostage by a few rogue bankers and the interests of the people would have a better chance of being respected.

The merger of corporate and state powers is the definition of Fascism coined by Mussolini. That is not the Austrian School. The latter protects against the forces of fascism and socialism by not allowing the government to be infiltrated by a group of rogues who only care about their own interests.

This is the problem we face in the United States, and we're being destroyed because of a weird mix of Keynesian economics and fascism which would not be possible with what I advocate.

I red the whole thing and agree mostly but this bit

 

[Dostoevsky]

By the way, I looked back to the first page of this thread and noticed that Dusan created it on March 8th, 2009.

Ironically, that was the same date as the "bottom" of the S&P 500 and Dow Jones Industrial Average.

Perhaps we can call it the Dusan Juventuz indicator to buy/sell equities. When this thread is closed I'll know to short the market.

I like it, I like it.

So it's been a year, it looks much better now.

 

[Bjerknes]

Greece is cooked. They are absolutely finished.

http://www.zerohedge.com/article/greek-curve-goes-apeshit-bloomberg-reports-3-month-bid-213

And people in Europe think they're better off than the US.

 

[IrishZebra]

The Integrity of our Union is inalienable

 

[Bjerknes]

Ireland is right after Spain and Portugal on the chopping block. Just wait and see.

The integrity of your union is

 

[IrishZebra]

Bet?

 

[JBF]

Are the Greeks still blaming the US for their crisis? They used to say that it was them who pushed them not to publish the facts regarding their debt.

 

[Bjerknes]

It was more of the Goldman Sachs gang of financial terrorists that screwed over Greece, not the US.

Fitch downgraded Greece's Long-term foreign and local currency Issuer Default Ratings to 'BBB-' from 'BBB+'. The Outlook is Negative. The downgrade reflects the intensification of fiscal challenges in response to more adverse prospects for economic growth and increased interest costs, Fitch said.

 

[IrishZebra]

That's a no to the bet then?

 

[Bjerknes]

Bet on what?

If you think Ireland is safe, you don't know shit.

 

[JBF]

It was more of the Goldman Sachs gang of financial terrorists that screwed over Greece, not the US.

Fitch downgraded Greece's Long-term foreign and local currency Issuer Default Ratings to 'BBB-' from 'BBB+'. The Outlook is Negative. The downgrade reflects the intensification of fiscal challenges in response to more adverse prospects for economic growth and increased interest costs, Fitch said.

Thanks for the info

 

[IrishZebra]

then you've nothing to risk broseph