GLOBAL RIOTS what you wont see on American News

[Bindare_Dundat]

  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? 

[Soul Crusher]

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. 

[shootfighter1]

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.

[Soul Crusher]

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.

[Bindare_Dundat]

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

[MuscleMcMannus]

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. 

[stormshadow]

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?

[MuscleMcMannus]

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. 

[24KT]

Hmmm.... 

"This video is not available in your country"

[Hugo Chavez]

[stormshadow]

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?