Originally posted by reasoner
Hi reasoner. First, thank you for the fantastic dialog. This is the kind of thing that gets people discussing the actual problem. Although i don't
think I'll have time to respond to each of your responses today, I'll start with this one.
snip .. interesting. Do you really think that or are you just arguing?
I do. I feel that government is the problem and the criminal at this point. That what we are seeing is deliberate by those in power. Actions over
the past 20-30 years have gotten us into this mess, and today is no exception. Not particularly caused by one administration or party. Remember,
Obama too went along with the No Banker Left Bonusless act and has budgeted v2.0 of it already.
Leverage ratios play a huge party in this mess. Obama COULD be pushing or have pushed in the past for reinstatement of the Glass-Stegall act. Did
he? FDR perceived the problem of confidence, and nailed it on the head. FDR treated the cause, not the symptoms. We need transparency in the
markets right now, as no one knows what things are worth.
How can you separate spending and providing employment as if they were disparate?
Difference here is that WW2 created tangible goods. Steel, tanks, ammo, guns, airplanes, munitions, shipping, etc. Remolding offices, creating new
govt positions, or 1 single bullet train isn't the same. With WW2, we became a huge export nation of said goods to allies, and hence subsequent
It's also arguable that Hoover came up with the huge spending policies before he left office. FDR had the right idea with bank confidence, however
in an effort to 'do something just to do it', he adopted forms of Hoovers spending policies.
space.as discrediting rather than supporting the spend-to-break-the-spiral thesis.
Kicking the can down the road and creating more and more debt does not solve the problem. Japan proved this in the 90's, and had the lost decade.
It's also arguable, that FDR's spending prolonged the depression. The economy did try to recovery a few times. FDR implemented taxes and other
actions at these times which immediately killed such recovery.
The debt has to be paid for eventually. This is why using a credit card to pay off a maxed credit card never works. FDR had brand new plastic with
little debt. Today we have a maxed credit card. We're spending money we do not have, borrowing over 50% from other nations. Bond market
dislocation will be the final result and spending will finally be forced to stop. We already have a cup and handle forming in the treasury market.
probably unethical but may not have broken the laws on the books at the time).
Title 12, Sec. 1831o for starters. Selling mortgage backed securities as "AAA" when said mortgages were already in default is a hard sell as being
Is this something you advocate only because it's right and just in your view, or do you think such prosecution would somehow help the
Both reasoner. If you're an investor, and you can see rampant fraud running throughout the economy -- are you going to invest your money in it?
What assurances do you have you'll get it back? How many Madoffs are their in the market? Theres no confidence period, and the administration is
doing nothing to address said confidence. How about the policy flip flops on a daily basis? Right now you can't invest in the market longer than a
day. It's day by day on to the closing bell hinging on what the Government will do/will not do -- so that is where Obama who selected TaxCheat Timmy
is to blame.
That's a real question, please do think about it before answering
Great question. I would hope that calls for such hearings would bring the people and government together and address the CAUSE of such mess. Flush
out the fraud, and those in government as a part of the fraud it, and enforce the rules.