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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on February 01, 2009, 12:13:54 PM
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Fuuuuuuuuuuuuuuuuuuuuuuu uuuuck! :-\
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Fuuuuuuuuuuuuuuuuuuuuuuuuuuuck! :-\
Nothing to see here folks. Banks are stabilized. Credit markets are unfreezing. Unemployment is only 7%. BULLSHIT. WAKE THE FUCK UP!!!
People in Russia and China are risking their lives in protest while the WEST IS TOO BUSY SLEEPING OR SUCKING OBAMAS COCK!
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All these countries who threw away their socialistic/communistic ideology only to embrace what they thought was "capitalism" are getting fucked. The US is really making friends in the world. LMAO! The world should be pissed at America. We sold pseudocapitalism (state corporatism) to the world like we sold our shitty investments.
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All these countries who threw away their socialistic/communistic ideology only to embrace what they thought was "capitalism" are getting fucked. The US is really making friends in the world. LMAO! The world should be pissed at America. We sold pseudocapitalism (state corporatism) to the world like we sold our shitty investments.
It's just too bad that they are asking the same people who fucked them, to help them.
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It's just too bad that they are asking the same people who fucked them, to help them.
Well what else should they do?
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Well what else should they do?
Move to Hawaii, according to BeachBum everything is just super over there. :)
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All these countries who threw away their socialistic/communistic ideology only to embrace what they thought was "capitalism" are getting fucked. The US is really making friends in the world. LMAO! The world should be pissed at America. We sold pseudocapitalism (state corporatism) to the world like we sold our shitty investments.
There any socialist countries doing well? Venezuela seems to be doing great. Murder capital of the world (520 killed in Caracas in December alone), highest inflation in South America (over 32% in 2008), unemployment above ours. Consistent riots by students and people over the oppression of their basic rights. Arrests and murders of opposition party members. A leader trying to get himself elected for life. Yes, socialism works terrifically! ::)
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There any socialist countries doing well? Venezuela seems to be doing great. Murder capital of the world (520 killed in Caracas in December alone), highest inflation in South America (over 32% in 2008), unemployment above ours. Consistent riots by students and people over the oppression of their basic rights. Arrests and murders of opposition party members. A leader trying to get himself elected for life. Yes, socialism works terrifically! ::)
Unemployment in Venezuela in 2008 was about 7.1% (source: Instituto Nacional de Estadística (http://www.ine.gob.ve/)).
Unemployment in the USA in 2008 was about 7.2% (source: Bureau of Labor Statistics (http://www.bls.gov/CPS/)).
You sure check your own facts!!!
;) ;) ;)
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Unemployment in Venezuela in 2008 was about 7.1% (source: Instituto Nacional de Estadística (http://www.ine.gob.ve/)).
Unemployment in the USA in 2008 was about 7.2% (source: Bureau of Labor Statistics (http://www.bls.gov/CPS/)).
You sure check your own facts!!!
;) ;) ;)
Their unemployment was above 7.2% well into the last half of the year. It only came down towards the end of 08. Maybe you want to check your own facts. My apologies for pulling numbers off the top of my head. Silly me for not knowing that their unemployment rated dropped 0.1% in four months. BerzerkOWNED. ;)
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There any socialist countries doing well? Venezuela seems to be doing great. Murder capital of the world (520 killed in Caracas in December alone), highest inflation in South America (over 32% in 2008), unemployment above ours. Consistent riots by students and people over the oppression of their basic rights. Arrests and murders of opposition party members. A leader trying to get himself elected for life. Yes, socialism works terrifically! ::)
That wasn't my point genius. No one is "doing well" in these times no. And my point was we i.e. America supposedly the last bastion of free market capitalism pushed it on other countries and it totally backfired. Because we are no longer nor have been in a while a free market economy. Like always we sold the world a line of bullshit. Don't do what we do, do what we say. Now we fucked ourselves even more because we have the rest of the world thinking capitalism will lead to economic chaos when it wasn't even fucking capitalism in the first place. Again thanks to the incompetent U.S. Government and our corrupt foreign policy.
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That wasn't my point genius. No one is "doing well" in these times no. And my point was we i.e. America supposedly the last bastion of free market capitalism pushed it on other countries and it totally backfired. Because we are no longer nor have been in a while a free market economy. Like always we sold the world a line of bullshit. Don't do what we do, do what we say. Now we fucked ourselves even more because we have the rest of the world thinking capitalism will lead to economic chaos when it wasn't even fucking capitalism in the first place. Again thanks to the incompetent U.S. Government and our corrupt foreign policy.
Interesting. Once China started loosening up their economy, introducing more capitalist elements and shying away from Communism, it took off. But you keep going on about how socialism/communism is better. Let's move to Caracas, nothing beats 30%+ inflation and the very likely chance that you'll get murdered!
There has never been a true "free market economy".
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Interesting. Once China started loosening up their economy, introducing more capitalist elements and shying away from Communism, it took off. But you keep going on about how socialism/communism is better. Let's move to Caracas, nothing beats 30%+ inflation and the very likely chance that you'll get murdered!
There has never been a true "free market economy".
haha you're a fucking idiot. China has a capitalistic economy but a very communistic government. Their banking is populist in nature. Their money is government issued and their national banks are owned by the government. In 1995 the Central Bank Law was passed in China granting central bank status to the PBoC. The Chinese government prints up renminbis and exchanges them with Chinese companies for US dollars. Dont' talk about shit you have no clue about.
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haha you're a fucking idiot. China has a capitalistic economy but a very communistic government. Their banking is populist in nature. Their money is government issued and their national banks are owned by the government. In 1995 the Central Bank Law was passed in China granting central bank status to the PBoC. The Chinese government prints up renminbis and exchanges them with Chinese companies for US dollars. Dont' talk about shit you have no clue about.
You just owned yourself with that. China has a capitalist economy, their economy has been booming, yet here you are ranting about how bad capitalism is and how great socialism/communism is. Communism is so great that China went the capitalist route with their economy! Your Harvard PhD in economics really works wonders!
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Interesting. Once China started loosening up their economy, introducing more capitalist elements and shying away from Communism, it took off. But you keep going on about how socialism/communism is better. Let's move to Caracas, nothing beats 30%+ inflation and the very likely chance that you'll get murdered!
There has never been a true "free market economy".
Where the fuck did I ever say communism/socialism is better. That's your own interpretation. Try arguing with the posts I actually make instead of what you want me to say.
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Where the fuck did I ever say communism/socialism is better. That's your own interpretation. Try arguing with the posts I actually make instead of what you want me to say.
All these countries who threw away their socialistic/communistic ideology only to embrace what they thought was "capitalism" are getting fucked.
Try to keep up, junior. You're implying that they ruined themselves by throwing away a better system to embrace a shittier one. Or maybe you were trying to convey some mystical point?
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You just owned yourself with that. China has a capitalist economy, their economy has been booming, yet here you are ranting about how bad capitalism is and how great socialism/communism is. Communism is so great that China went the capitalist route with their economy! Your Harvard PhD in economics really works wonders!
HAHA My god you fucking MORON! Their economy is booming because of their banking structure not soley because of their capitalistic economy. Are you fucking dense? The combination of their strong central banking government issued currency i..e why they peg their currency to their dollar and their capitalistic economy is why they are booming. The government controls the issuance of money and loans. Whether you agree with that principle or not any expert on China will agree this is a big reason for why they are booming. Why do you think people complain about China keepin their currency pegged to the dollar. I'm done with this thread. YOu haven o basic understanding of economics and the issue of money.
China gives HUGE LOANS TO CHINESE BUSINESSES INTEREST FREE!
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HAHA My god you fucking MORON! Their economy is booming because of their banking structure not soley because of their capitalistic economy. Are you fucking dense? The combination of their strong central banking government issued currency i..e why they peg their currency to their dollar and their capitalistic economy is why they are booming. The government controls the issuance of money and loans. Whether you agree with that principle or not any expert on China will agree this is a big reason for why they are booming. Why do you think people complain about China keepin their currency pegged to the dollar. I'm done with this thread. YOu haven o basic understanding of economics and the issue of money.
The fact that their economy has ANY capitalist elements proves your point wrong. You were trying to convey the point that socialism/communism are better than capitalism. China proved that wrong by introducing capitalist policies into their economy. You were owned by the Chinese. If communism is so great, as you seem to think, why would the Chinese keep shying away from it as time goes on? Go take it up with them, Keynes.
You still haven't named one successful communist/socialist country. Cuba? Venezuela? Russia? Come on, Keynes!
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There any socialist countries doing well? Venezuela seems to be doing great. Murder capital of the world (520 killed in Caracas in December alone), highest inflation in South America (over 32% in 2008), unemployment above ours. Consistent riots by students and people over the oppression of their basic rights. Arrests and murders of opposition party members. A leader trying to get himself elected for life. Yes, socialism works terrifically! ::)
And yet, ever since he got to power people's support for government policies has gradually increased.
Chavez is taking control of the country's resources, and the big oil oligarchs (aka opposition) do not like that. Chavez's government could very well be described as "authoritarian", but that has more to do with Venezuela's political opposition just refusing in taking part (time and time again) in any part of the democratic life of the country. Instead they've decided to take to the streets and create class tension. The problem is that opposition support in Venezuela in concentrated to TV stations and newspapers, not popular support, so even when they take to the streets the most they could do is get lots of TV coverage but that's it.
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And yet, ever since he got to power people's support for government policies has gradually increased.
Chavez is taking control of the country's resources, and the big oil oligarchs (aka opposition) do not like that. Chavez's government could very well be described as "authoritarian", but that has more to do with Venezuela's political opposition just refusing in taking part (time and time again) in any part of the democratic life of the country. Instead they've decided to take to the streets and create class tension. The problem is that opposition support in Venezuela in concentrated to TV stations and newspapers, not popular support, so even when they take to the streets the most they could do is get lots of TV coverage but that's it.
Interesting. Chavez is incredibly democratic. I mean, every democratic country passes legislation allowing for their leader to be elected to a life term. Oh wait, it failed in Venezuela because the people don't want to annoint a dictator. The problem is that despite all the media manipulation and theatrics by Chavez, their country is still suffering from massive problems. Here's to hoping he continues to kill and imprison the opposition, as it's the only way he'll likely stay in power.
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The fact that their economy has ANY capitalist elements proves your point wrong. You were trying to convey the point that socialism/communism are better than capitalism. China proved that wrong by introducing capitalist policies into their economy. You were owned by the Chinese. If communism is so great, as you seem to think, why would the Chinese keep shying away from it as time goes on? Go take it up with them, Keynes.
You still haven't named one successful communist/socialist country. Cuba? Venezuela? Russia? Come on, Keynes!
Keynes? Hahah now I'm a Kenyesian? haha here you go with your stupid economic mantra. What a dipshit you are, using big words for which you really have no understanding. Do you realize how money is created? Where it comes from? And how that affects a country's economy? America and China both have capitalistic economies. So why has fucking China outpaced America in terms of GDP and why do they continue to do so? Is there economy any more free than ours? No. It has to do with how their money is created. Our money is created by the private federal reserve at interest. China's currency is created by the government INTEREST FUCKING FREE!!!!!!!!!!! DO YOU UNDERSTAND WHAT THAT MEANS and the ramifications that can have on a country ON TOP of keeping their currency pegged to the dollar? It has very little to do with their capitalistic tendencies and everything to do with their creation of money. Many of the other countries you've fucking given examples of have failed miserably because they are at the mercy of the IMF for their banking and loans and currency valuation. China does whatever the hell it wants and thumbs its nose at the world i.e. creating and printing their own currency intrest free and keeping their currency pegged to the dollar. Do you even understand what that means? I'm not saying it's right but it's the way it is. If you are going to throw around terms like Keynesian atleast learn a little fucking more about Austrian economics and how money is created.
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Holy shit, the Keynes comment was just a reference to your superior knowledge of everything economics. Way to go off the deep end.
You were implying that socialism/communism is better than capitalism. Now you're trying to say you weren't.
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Their unemployment was above 7.2% well into the last half of the year. It only came down towards the end of 08. Maybe you want to check your own facts. My apologies for pulling numbers off the top of my head. Silly me for not knowing that their unemployment rated dropped 0.1% in four months. BerzerkOWNED. ;)
I apologize for pointing out another of your lies once again... but I have to say something dude.
Actually, the latest figures for Venezuela for 2008 were 6.1% unemployment rate (source: Instituto Nacional de Estadística (http://www.ine.gob.ve/)).
We all know what happened to the US'.
Fact, not opinion.
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The US and other Western countries imposed an embargo against China in the 1950s, blocking trade between it and most of the rest of the world except the Soviet Bloc. China then adopted a Soviet Style centrally planned economy, but after 1978, it pursued an open door policy and was transformed from a centrally planned economy back into a market economy. Private Industry is now flourishing in China and privatiziation has been creeping into its banking system as well, but it still has government owned banks that can issue national credit for domestic development. By 2004, China was leading the world in economic productivity, growing at 9% annually. In the first quarter fo 2007, its economic growth was up to a remarkable 11.1%. With retail sales climbing 15.3%. The commonly held explanation for this impressive growth is that Chinese are willing to work for what amounts to slave wages, but the starving poor of Africa, Indonesia, and Latin America are equally willing, yet their economies are languishing. Something else distuingishes China, and one key difference is its banking system. China has a government issued currency and a system of national banks that are actually owned by the nation.
Web of Debt by Ellen Brown
Read that last sentence. It's very important. China has a completely different banking system than the US. They are the only economy in the world that does what they do. Hence why they are so successful right now. National banking i.e. government issuing currency interest free to businesses and keeping their currency pegged to the dollar all the while freeing up their economy. It's actually not only cunning but pure genius. Meanwhile the US is at the behest of a bunch of fucking private banks that charge the American people a shit ton of interest when they "create money out of thin air".
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I apologize for pointing out another of your lies once again... but I have to say something dude.
Actually, the latest figures for Venezuela for 2008 were 6.1% unemployment rate (source: Instituto Nacional de Estadística (http://www.ine.gob.ve/)).
We all know what happened to the US'.
Fact, not opinion.
Again, going into August, their unemployment rate was greater than ours. I apologize for not keeping up to date on every single fact regarding Venezuela. Nevermind the point that the murder numbers and inflation statistics are accurate. Nuthuggers, lol.
Anyway, it's super bowl eating time.
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Holy shit, the Keynes comment was just a reference to your superior knowledge of everything economics. Way to go off the deep end.
You were implying that socialism/communism is better than capitalism. Now you're trying to say you weren't.
No I'm not you moron. I'm SAYING HOW MONEY IS CREATED matters MORE THAN economic ideology. You can have the most free market in the world......if bankers control how money is created and the people are under the auspices of private banks it really won't matter much and you'll have constant economic bubbles ballooning and bursting and exponential debt like we do in the US. WHY THE FUCK DO YOU THINK THE FOUNDING FATHERS AKA JEFFERSON AND JACKSON WERE SO DISTRUSTFUL AND HATEFUL TOWARDS BANKERS AND BANKS!
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Again, going into August, their unemployment rate was greater than ours. I apologize for not keeping up to date on every single fact regarding Venezuela. Nevermind the point that the murder numbers and inflation statistics are accurate. Nuthuggers, lol.
Anyway, it's super bowl eating time.
haha the shit gets deep and he bows out. What a pussy. Go watch your football and eat your chips tubby. Keep drinking the kool aid!
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Interesting. Chavez is incredibly democratic. I mean, every democratic country passes legislation allowing for their leader to be elected to a life term. Oh wait, it failed in Venezuela because the people don't want to annoint a dictator. The problem is that despite all the media manipulation and theatrics by Chavez, their country is still suffering from massive problems. Here's to hoping he continues to kill and imprison the opposition, as it's the only way he'll likely stay in power.
Chavez kills the opposition???!!!! ??? ??? ???
Where do you get that from? Another ass-grabber?
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Chavez kills the opposition???!!!! ??? ??? ???
Where do you get that from? Another ass-grabber?
Back to my point though Slapper. Chavez is nationalizing the banks but he's still at the mercy of outside loans i.e. the Inter American development bank based in Washington DC which is slated to "lend" the new nationalized bank $8 billion dollars. China can print its own money so they are only at the mercy of themselves. Guess who has the highest credit rating in Latin America? CHILE! (banking system owned by the west and IMF) No surprise there eh?
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Again, going into August, their unemployment rate was greater than ours. I apologize for not keeping up to date on every single fact regarding Venezuela.
Ok, from whenever to August of last year Venezuela's unemployment rate was higher than ours. From September of 2008 to today it's the total opposite. Great way to make your point that socialism sucks! ;D ;D ;D ;D ;D
Nevermind the point that the murder numbers and inflation statistics are accurate.
I'm not saying otherwise. Venezuela is indeed going through a rough time class-wise. The rich oil oligarchs do not want to let go of the power and they are finding themselves in a situation with Chavez's popularity is on the rise and they have little to no popular support amongst the majority of Venezuelans. They are now turning to their only viable option (backed by the USA of course): Violence.
Cheers.
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Back to my point though Slapper. Chavez is nationalizing the banks but he's still at the mercy of outside loans i.e. the Inter American development bank based in Washington DC which is slated to "lend" the new nationalized bank $8 billion dollars. China can print its own money so they are only at the mercy of themselves. Guess who has the highest credit rating in Latin America? CHILE! (banking system owned by the west and IMF) No surprise there eh?
Chavez does not give a single shit about the IMF. He is sitting on the largest oil reserve in the world and that gives him all the prick-waving rights he wants. Sure the IMF can pull the plug, but then all Chavez have to do is shut off the spiggots... and sit back and watch the US economy collapse to stone-age times.
People in the IMF are smart enought not to do that. I also think he's got plenty of cash to pay off his loans though.
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Chavez does not give a single shit about the IMF. He is sitting on the largest oil reserve in the world and that gives him all the prick-waving rights he wants. Sure the IMF can pull the plug, but then all Chavez have to do is shut off the spiggots... and sit back and watch the US economy collapse to stone-age times.
People in the IMF are smart enought not to do that. I also think he's got plenty of cash to pay off his loans though.
He can delete posts whenver he wants too. ;)
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Chavez does not give a single shit about the IMF. He is sitting on the largest oil reserve in the world and that gives him all the prick-waving rights he wants. Sure the IMF can pull the plug, but then all Chavez have to do is shut off the spiggots... and sit back and watch the US economy collapse to stone-age times.
People in the IMF are smart enought not to do that. I also think he's got plenty of cash to pay off his loans though.
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Like I said Chavez talks tough but he's still a bitch to the international banking cartel. That's my point. Whether it's IMF or Inter America or other banks. China is a different beast. They own their currency, the ability to print it, lend it to Chinese people interest free. The Chinese are smart fuckers and they will be the next superpower unless America gets their shit together and gets rid of the Federal Reserve.
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Like I said Chavez talks tough but he's still a bitch to the international banking cartel. That's my point. Whether it's IMF or Inter America or other banks. China is a different beast. They own their currency, the ability to print it, lend it to Chinese people interest free. The Chinese are smart fuckers and they will be the next superpower unless America gets their shit together and gets rid of the Federal Reserve.
That is true, the Chinese will rule the world for many years to come. Provided the Indians do not develop an attitude.
Cheers.
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That is true, the Chinese will rule the world for many years to come. Provided the Indians do not develop an attitude.
Cheers.
India is overreliant on IMF and international banking loans as well. They are basically puppets for the US and Bank of England. Always have been and always will be. Same as the US.
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Nothing to see here folks. Banks are stabilized. Credit markets are unfreezing. Unemployment is only 7%. BULLSHIT. WAKE THE FUCK UP!!!
People in Russia and China are risking their lives in protest while the WEST IS TOO BUSY SLEEPING OR SUCKING OBAMAS COCK!
No offence bro, but aren't your lips pretty tight around Ron Paul's rod?
One of the bigger de-regulating prophets of our current era?
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No offence bro, but aren't your lips pretty tight around Ron Paul's rod?
One of the bigger de-regulating prophets of our current era?
Your right, he's wrong. Feel better?
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No offence bro, but aren't your lips pretty tight around Ron Paul's rod?
One of the bigger de-regulating prophets of our current era?
WRONG I'm not a gold bug and sure as hell don't believe in bringing back the gold standard as solution to all our monetary problems. Ron Paul wants to bring back the gold standard. Fine but he still doesn't address the most important issue. Who controls the creation of money? If we bring back the gold standard another private entity i.e. banks will control all the gold. The power of issuing money needs to be given back to the American people i.e. as the founding fathers would have wanted. Our fiat system of money creation would work fine if we did like the Chinese did. Issue our own money to our people, buy back our bonds etc. Instead of allowing a private banking cartel buy bonds for their right to create money out of thin air. If you're interested I suggest you read the book Web of Debt by Ellen Brown. The Lost Science of Money by Stephen Zarlenga. Go to amazon and read the reviews of Ellen's book. It's the best book on the creation of money right now.
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WRONG I'm not a gold bug and sure as hell don't believe in bringing back the gold standard as solution to all our monetary problems. Ron Paul wants to bring back the gold standard. Fine but he still doesn't address the most important issue. Who controls the creation of money? If we bring back the gold standard another private entity i.e. banks will control all the gold. The power of issuing money needs to be given back to the American people i.e. as the founding fathers would have wanted. Our fiat system of money creation would work fine if we did like the Chinese did. Issue our own money to our people, buy back our bonds etc. Instead of allowing a private banking cartel buy bonds for their right to create money out of thin air. If you're interested I suggest you read the book Web of Debt by Ellen Brown. The Lost Science of Money by Stephen Zarlenga. Go to amazon and read the reviews of Ellen's book. It's the best book on the creation of money right now.
Never claimed you were a Ron Paul fan.
My post was directed to Bindare Dundat.
He's cool though.
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Never claimed you were a Ron Paul fan.
My post was directed to Bindare Dundat.
He's cool though.
Yeah my bad I realized that after I typed it out. lol. Ron Paul is a good man and a voice America is in dire need of. Is everything he says gospel or even economically sound? No. But no politician is perfect. It's not economiclly viable in an economy of trillions upon trillions of dollars to bring back the gold standard. But that's no reason why a hybrid gold/fiat system couldn't work either.
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We saw them on Canadian news. :)
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Let's Legalize Competing Currencies
http://www.lewrockwell.com/paul/paul434.html
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Yeah my bad I realized that after I typed it out. lol. Ron Paul is a good man and a voice America is in dire need of. Is everything he says gospel or even economically sound? No. But no politician is perfect. It's not economiclly viable in an economy of trillions upon trillions of dollars to bring back the gold standard. But that's no reason why a hybrid gold/fiat system couldn't work either.
What would you say about the topic of regulation/deregualtion? Thanks.
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Gold Standard 1/30/09 Fox Business
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hahaha, oh brother.....comedic gold...turds...hahaha
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hahaha, oh brother.....comedic gold...turds...hahaha
what the hell does that even mean? What are you referring to?
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What would you say about the topic of regulation/deregualtion? Thanks.
Well the first thing I would say is the US government is way too fucking big and invasive nowadays. Everywhere we turn we have bureaucracy shoved up our asses be it citizens, businesses etc. With that being said I believe more power should be regulated to the states. Much more. Society, especially business needs a certain amount of regulation. But it should be balanced and focused. Two things government knows nothing of. This economic crisis didn't happen because there wasn't enough regulation. It failed because the regulation already existing wasn't enforced. We don't need more laws. We need to enforce the ones we already have.
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Well the first thing I would say is the US government is way too fucking big and invasive nowadays. Everywhere we turn we have bureaucracy shoved up our asses be it citizens, businesses etc. With that being said I believe more power should be regulated to the states. Much more. Society, especially business needs a certain amount of regulation. But it should be balanced and focused. Two things government knows nothing of. This economic crisis didn't happen because there wasn't enough regulation. It failed because the regulation already existing wasn't enforced. We don't need more laws. We need to enforce the ones we already have.
100000000000% correct. We have too many laws and too few enforcment. Its better to have fewer laws and better enforcement.
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The current credit crisis is hardly an example of the failure of capitalism. History shows that it was during the Clinton administration that an agenda of increased home ownership was heavily promoted. The federal government, under Clinton, began pressuring the Mortgage industry including Fannie Mae and Freddie Mac to drastically lower their lending standards. The idea of extending credit to people that have poor income and terrible credit is closer to a socialist agenda than true Capitalism. The same thing happens in education. We have a large portion of our population now that is utterly hopeless when it comes to learning, so the the schools have lowered their standards to accomodate these people. The bottom line is by allowing credit extended to unworthy individuals in the name of "fairness and equality", we are in the current situation we see now.
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This economic crisis didn't happen because there wasn't enough regulation. It failed because the regulation already existing wasn't enforced. We don't need more laws. We need to enforce the ones we already have.
Did you understand this Hedgehog? ;D
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The current credit crisis is hardly an example of the failure of capitalism. History shows that it was during the Clinton administration that an agenda of increased home ownership was heavily promoted. The federal government, under Clinton, began pressuring the Mortgage industry including Fannie Mae and Freddie Mac to drastically lower their lending standards. The idea of extending credit to people that have poor income and terrible credit is closer to a socialist agenda than true Capitalism. The same thing happens in education. We have a large portion of our population now that is utterly hopeless when it comes to learning, so the the schools have lowered their standards to accomodate these people. The bottom line is by allowing credit extended to unworthy individuals in the name of "fairness and equality", we are in the current situation we see now.
You completely contradict yourself.
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McMannus, much of what you say makes sense IMO. I am no banking expert by any means, but I have heard some impressive arguments in favor of getting rid of the federal reserve.
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The current credit crisis is hardly an example of the failure of capitalism. History shows that it was during the Clinton administration that an agenda of increased home ownership was heavily promoted. The federal government, under Clinton, began pressuring the Mortgage industry including Fannie Mae and Freddie Mac to drastically lower their lending standards. The idea of extending credit to people that have poor income and terrible credit is closer to a socialist agenda than true Capitalism. The same thing happens in education. We have a large portion of our population now that is utterly hopeless when it comes to learning, so the the schools have lowered their standards to accomodate these people. The bottom line is by allowing credit extended to unworthy individuals in the name of "fairness and equality", we are in the current situation we see now.
My mistake, I re-read your post correct.
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One of the most regulated banking systems in the world is in Canada, yet they still couldnt avoid bank bailouts.
The Conservative government has leaked the details of Tuesday's budget. They have announced a $64 billion deficit. The Harper government, which has consistently committed itself to a "balanced budget", now claims that deficit spending is required to boost the economy at the height of a major economic recession.
Does this constitute a turnaround in federal government economic policy?
Is the government really committed to running a budget deficit with a view to stimulating demand and reversing the tide of economic decline.
Or is there a hidden agenda?
A modest $500 million farm modernization program, a $1 billion fund "to send workers from hard-hit industries back to school", the reduction in the Goods and Services Tax (GST)... The figures do not seem to add up to a staggering $64 billion.
Where is the bulk of the money going? These budget allocations do not explain the dramatic increase in the budget deficit.
Bear in mind that barely a month ago, Finance Minister Jim Flaherty had projected "a $2.3-billion surplus for the current fiscal year" (Edmonton Sun, December 24, 2008)
Canada's Bank Bailout
The 64 billion dollar budget deficit should come as no surprise.
It is directly related to a 75 billion dollar bank bailout program for Canada's chartered banks, announced, virtually unnoticed, four days before the October Federal election.
The bank bailout received close to no media coverage; its budgetary implications were not analyzed.
"The Honourable Jim Flaherty, Minister of Finance, today announced the Government will purchase up to an additional $50 billion of insured mortgage pools by the end of the fiscal year as part of its ongoing efforts to maintain the availability of longer-term credit in Canada.
This action will increase to $75 billion the maximum value of securities purchased through Canada Mortgage and Housing Corporation (CMHC) under this program.
http://www.globalresearch.ca/index.php?context=va&aid=12007
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The current credit crisis is hardly an example of the failure of capitalism. History shows that it was during the Clinton administration that an agenda of increased home ownership was heavily promoted. The federal government, under Clinton, began pressuring the Mortgage industry including Fannie Mae and Freddie Mac to drastically lower their lending standards. The idea of extending credit to people that have poor income and terrible credit is closer to a socialist agenda than true Capitalism. The same thing happens in education. We have a large portion of our population now that is utterly hopeless when it comes to learning, so the the schools have lowered their standards to accomodate these people. The bottom line is by allowing credit extended to unworthy individuals in the name of "fairness and equality", we are in the current situation we see now.
We haven't had a free market for a long time. What he have nowadays or have had since WWII is what some are referring to as state capitalism. I.e. similar to corporatism. Both government and big corporations feed off each other at the expense of small businesses. Small businesses are the key to American prosperity. They are the key to economic freedom. All government does is fuel monopolies. All this consolidation of financial power that is going on now is truly frightening.
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We haven't had a free market for a long time. What he have nowadays or have had since WWII is what some are referring to as state capitalism. I.e. similar to corporatism. Both government and big corporations feed off each other at the expense of small businesses. Small businesses are the key to American prosperity. They are the key to economic freedom. All government does is fuel monopolies. All this consolidation of financial power that is going on now is truly frightening.
Why does the US not like the fact that China pegs their currency to the Dollar?
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Why does the US not like the fact that China pegs their currency to the Dollar?
Because if the Yuan was allowed to "float" it would rise against the dollar improving China's ability to import US goods and making Chinese exports more expensive. It would basically hurt China economically but it would make trade between us and them much more fair.
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Hmmm.... :-\
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Because if the Yuan was allowed to "float" it would rise against the dollar improving China's ability to import US goods and making Chinese exports more expensive. It would basically hurt China economically but it would make trade between us and them much more fair.
Why would it rise, why would their paper have greater value than the dollar?
Just by the fact that there are more dollars out there than Yuan?
How is the value between the two decided?
Are they the only country that does this because they are the only one that is able to, because the government issues their currency as opposed to a central bank?