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Originally posted by CB328
What about those 80 years of non-doom?
Krugman is right, conservatives are always screaming that the end is near- this decade it's QE, last decade it was going to be hyperinflation, before that it was Nato taking over the country with black helicopters.
Yes America has serious problems, but it's not because of the government, and the country isn't going to implode without some large, manufactured catastrophe.
What is probably going to happen is that economic classes are going to become permanent social classes- people who are poor today are not going to have any chance of moving up in America, and neither will their children.
Originally posted by BlackSnake
When someone banters out a comment like a new Amendments to the Constitution,which is what we are talking about here,I get very nervous.This can,and if allowed too happen WILL result in a new Constitutional Convention.
At the risk of sounding paranoid,that is the worst thing that can be done to us.
Originally posted by rangersdad
reply to post by EvillerBob
Well if they raised the minimum wage on a yearly basis as prices rise, it would be around $14 by now....instead of half of that.
Originally posted by wildtimes
reply to post by RadicalRebel
less regulation of the banks, not more legislation. No more bailouts, no more "to big to fail" bs, if they fail then that is the process of the free market, and tying the "invisible hand" behind the governments back obviously hasnt helped.
This is what the FDIC plan is about, that trillium posted.
When this happens, it will not hit the month-to-month working people who are not in Wall Street. The plan, devised by the Bank of England and the FDIC jointly, addresses specific solutions to how to dismantle the hugest banks when they fail - by a single point of entry top-tier intervention. The aim is to keep the infrastructure going, so that critical services and daily systemic transactions can occur as usual,
BUT MEANWHILE - the senior managament of the failed entities will be immediately removed as well as boards of directors AND HELD ACCOUNTABLE, their assets/liabilities are at risk, along with their top shareholders - not us little guys. It shouldn't affect us at all, and even the major banks that are being taken over for complete restructuring will still operate their subsidiaries as usual.
The strategy is supposed to have begun already, the first half of this year is the deadline for part one of the plan being set up - and the end of the year for ACTION.
The main point of their strategy is that TAXPAYERS WILL NOT TAKE THE BURDEN. It is the the culpable management and the filthy rich who have used the filthy system to get that way that will finally pay. There will be no tax-payer bailout at all - the shareholders and entities that house them will take the fall.
It should actually make things better, and while I'm no economist (I've been trying to learn about it for 2 years now), I think people who keep shouting that "the government is too big", and "keep the government out of it", are missing the entire point. It isn't about the GOVERNMENT spending, or regulation. Too little regulation was what resulted in the insolvency of Wall Street. It's not REAL - it's unsecured digits and mathematics that, in the end, mean NOTHING. Just paper. So, they want to get rid of the meaningless "fiat equity" by writing it down to actual ASSETS that are liquid, thus getting rid of the "investment profit" which doesn't really exist.
You guys really should read the post trillium added on page 1 - this is being handled outside of the government, by the FDIC and the Bank of England, JOINTLY, and the government had nothing to do with it except for the justice system holding responsible the culprits - really holding them accountable, and stripping them of their wealth AND their jobs - and replacing them, while having "bridge banks" continue day-to-day operations while the top level parent companies are gutted, autopsied, and then rebuilt.
It's okay, and it will BE OKAY - as long as you're not Jamie Dimon or a huge Wall Street player earning $3000.00/hour in a fake gambling casino with numbers on your "screen" that really mean NOTHING.
Please, guys, stop with the partisan mudslinging. We are talking here about CRIMINAL RACKETEERING and shady bank dealings - NOT THE GOVERNMENT in this situation, not Dems or Libs, not Fox vs MSNBC. We're talking about STOPPING THE CRIME by stopping the criminals and declaring that The Emperor Has No Clothes once and for all.
I'm actually optimistic about it!