Free trade
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I'm still reading this book. One thing I think he is right about - the GFC is proof that an economy that is left to it's own devices is a threat to the welfare of the nations that allow it. I don't see how anyone could be so ignorant as to think that the markets can control themselves, I thought that before the proof was right in our faces.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
The thought that markets can control themselves is an example of anarchy. In itself a wonderful idea, but depends entirely on members of that system being responsible. This is of course not human nature to a large extent.
Morality is indistinguishable from social proscription
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But the issue here is deregulation. The problem is lack of control. You have it backwards.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
Lack of control over the fed, correct.
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CaptainSeeSharp wrote:
It is a very good documentary, old but good. Very professional.
And yet proven totally wrong by the GFC. Everyone pursued free markets. That's why were in a mess now.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
The GFC was create by the federal reserve flooding the market with new money at incredibly low interest rates, that new money fueled the housing bubble..
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
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The GFC was create by the federal reserve flooding the market with new money at incredibly low interest rates, that new money fueled the housing bubble..
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
Stupidity fueled the housing bubble. I really wished I could have snagged this magazine when I was inteviewing, but I didn't. Effectively it had 'Our last issue' across the top on a big red banner, talking about how awesome the housing market was. Now, I don't know about you, but I'm not taking shit for advice from someone who can't keep their magazine running. I did some checking later against other places from the same time period, they were all pointing to the 'oh crap, we caused a bubble' end of things at the same time. Over a year before most people seemed to figure it out. Except of course those who aimed to benefit in the short term rather than realizing they'd be screwed later.
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Stupidity fueled the housing bubble. I really wished I could have snagged this magazine when I was inteviewing, but I didn't. Effectively it had 'Our last issue' across the top on a big red banner, talking about how awesome the housing market was. Now, I don't know about you, but I'm not taking shit for advice from someone who can't keep their magazine running. I did some checking later against other places from the same time period, they were all pointing to the 'oh crap, we caused a bubble' end of things at the same time. Over a year before most people seemed to figure it out. Except of course those who aimed to benefit in the short term rather than realizing they'd be screwed later.
Distind wrote:
Stupidity fueled the housing bubble.
Which is why allowing the federal reserve to operate is a bad idea, it is too much power for one person to handle. A small mistake can be catastrophic.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
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Distind wrote:
Stupidity fueled the housing bubble.
Which is why allowing the federal reserve to operate is a bad idea, it is too much power for one person to handle. A small mistake can be catastrophic.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
It wasn't one person being stupid, it was the stupid flockers who thought just because the interest rate was low they'd be able to pay a mortgage they didn't have a prayer to. The fed is there to ensure that banks to fail massively, or if they do that America isn't dragged down with them. It also serves a number of other uses that all involve ensuring people have access to their money, and banks can still lend money out. Keeping that whole capitalism thing rolling.
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It wasn't one person being stupid, it was the stupid flockers who thought just because the interest rate was low they'd be able to pay a mortgage they didn't have a prayer to. The fed is there to ensure that banks to fail massively, or if they do that America isn't dragged down with them. It also serves a number of other uses that all involve ensuring people have access to their money, and banks can still lend money out. Keeping that whole capitalism thing rolling.
The problem originated from the fed, the fed was the enabler.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
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The problem originated from the fed, the fed was the enabler.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
That's like saying someone who has his pecker shredded by a pencil sharpener was enabled by it. Don't be an idiot, don't go sticking things where they don't belong, and don't assume you'll just find a way to get the money later because you can get such a deal now.
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That's like saying someone who has his pecker shredded by a pencil sharpener was enabled by it. Don't be an idiot, don't go sticking things where they don't belong, and don't assume you'll just find a way to get the money later because you can get such a deal now.
Distind wrote:
That's like saying someone who has his pecker shredded by a pencil sharpener was enabled by it. Don't be an idiot, don't go sticking things where they don't belong, and don't assume you'll just find a way to get the money later because you can get such a deal now.
Childish reply. Typical leftist tactics. Can't face the facts so you resort to insults.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
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Loans to people who could not afford to pay them, which were made to earn high commissions, on the assumption the bubble would not burst, and that the repossessed house could also be sold at profit, fueled the bubble. That occured because of deregulation of banks. So, again, the market does not act in it's own interests, or in the interests of society, which is why regulation is needed. Where the money came from is irrelevant. If there was regulation to stop rogue lenders, and/or hold them accountable, there would not have been an issue.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
Christian Graus wrote:
That occured because of deregulation of banks.
That occurred because the government decided it would be more equitable to let people with low incomes and bad credit have access to owning home. They pushed higher risk loans into the banking community. The banks spread the loans out, selling them. This drove up the demand for houses, which drove up the prices, which made the sub-prime derivatives look less risky than they really were. This was not a case of rogue lenders, it was a case of rogue government control.
Opacity, the new Transparency.
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Gonzoox wrote:
he doesn't understand a bit about economy
I know he doesn't, and you don't understand a bit about anything. You are a little jungle monkey that plays in its own feces.
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I know he's ignorantly repeating things he's read and does not understand. I just keep hoping the penny will drop.
Christian Graus Driven to the arms of OSX by Vista. Read my blog to find out how I've worked around bugs in Microsoft tools and frameworks.
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The GFC was create by the federal reserve flooding the market with new money at incredibly low interest rates, that new money fueled the housing bubble.
Watch the Fall of the Republic (High Quality 2:24:19)[^] Sons Of Liberty - Free Album[^] The True Soapbox is the Truthbox[^]
can you back this argument up? or is the federal reserve the easiest thing to blame?