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Originally posted by poet1b
What???? Your happy paying out $20 to $30 bucks a month or more to wall street gamblers?
Unless you are one of those skimming off the rest of the country, what in the world convinced you to support such wide spread fraud against your own best economic interests?
Originally posted by poet1b
reply to post by Bugman82
The artificial values were created by the mortgage lenders creating exotic loan packages with balloon payments and other such nonsense to justify loaning people more money than they could afford to pay back.
You need to provide an actual argument that proves the Fed Res role in the formation of the bubble.
Originally posted by Semicollegiate
Originally posted by poet1b
reply to post by Bugman82
The artificial values were created by the mortgage lenders creating exotic loan packages with balloon payments and other such nonsense to justify loaning people more money than they could afford to pay back.
Sombody had to have enough money to lend to cover the mortgage on the houses. That money comes from the Fed. Without the Fed that money wouldn't have been there to lend.
You need to provide an actual argument that proves the Fed Res role in the formation of the bubble.
In a free market that money wouldn't have been there.edit on 1-3-2012 by Semicollegiate because: (no reason given)
Originally posted by Semicollegiate
Originally posted by poet1b
reply to post by Bugman82
The artificial values were created by the mortgage lenders creating exotic loan packages with balloon payments and other such nonsense to justify loaning people more money than they could afford to pay back.
Sombody had to have enough money to lend to cover the mortgage on the houses. That money comes from the Fed. Without the Fed that money wouldn't have been there to lend.
You need to provide an actual argument that proves the Fed Res role in the formation of the bubble.
In a free market that money wouldn't have been there.edit on 1-3-2012 by Semicollegiate because: (no reason given)
Originally posted by mastahunta
Originally posted by Semicollegiate
Originally posted by poet1b
reply to post by Bugman82
The artificial values were created by the mortgage lenders creating exotic loan packages with balloon payments and other such nonsense to justify loaning people more money than they could afford to pay back.
Sombody had to have enough money to lend to cover the mortgage on the houses. That money comes from the Fed. Without the Fed that money wouldn't have been there to lend.
You need to provide an actual argument that proves the Fed Res role in the formation of the bubble.
In a free market that money wouldn't have been there.edit on 1-3-2012 by Semicollegiate because: (no reason given)
But the Fed was there, we have been this way for nearly 100 years...
This bubble was engineered by the banks leveraging free market politicians
to dismantle sound regulatory practice.
You don't find it at all fishy that this mortgage industry worked for almost a century,
but ultimately failed following several, historical acts of deregulation?
Originally posted by mastahunta
reply to post by Bugman82
again if this is not a free market than why not eliminate speculation?
Why don't you answer this question?
Originally posted by poet1b
reply to post by Semicollegiate
In the magical kingdom of the free market, nobody would need any money,
Just like in the good ole USSR, right comrade?
Originally posted by Semicollegiate
Originally posted by mastahunta
reply to post by Bugman82
again if this is not a free market than why not eliminate speculation?
Why don't you answer this question?
I answered it at least twice overtly. Third time. Speculation is supposed to be a source of income and credit to producers. Credit is supposed to be harder to come by. It should be based on savings and not inflationary currency.edit on 1-3-2012 by Semicollegiate because: (no reason given)
Originally posted by Semicollegiate
Originally posted by poet1b
reply to post by Semicollegiate
In the magical kingdom of the free market, nobody would need any money,
Just like in the good ole USSR, right comrade?
I see what your getting at. Yes the basics do sound Utopean. But so does democracy and everybody knows we live in a democracy.
You can't have a freedom without free market. The closer to free market the closer to freedom
Originally posted by Semicollegiate
reply to post by mastahunta
If the free market justifies crime then the English language justifies crime.
Originally posted by Semicollegiate
reply to post by mastahunta
Can't have a free market with the current system because no one knows what anything is really worth.
Originally posted by Jean Paul Zodeaux
reply to post by poet1b
Brother, that same invisible force - "the unseen hand" - that you use to dismiss free market principles as nothing more than Utopian idealism is the exact same force you laud when it comes to a democratic representative government.
For example, free market theorists believe that prices will typically decrease when there is more competition in a market place.
Clearly representative democracy has its severe cracks, so why do we regulate that, but not economics where cracks also appear?