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  • #2
    I am laughing my butt off, here! It's like I have said months ago, the S&L-dejavu! One would really think they would learn anything. They are against Socialism, but when they f-up, the heavily rely on it. Full of s hit...and I refer to my signature below!
    “...I may condemn what you say, but I will give my life for that you may say it”! - Voltaire

    Comment


    • #3
      Kinda ironic though really. Using taxpayers money to bail out failed banks and insurance companies to avert another 1929 just before election time Flies in the face of a free market economy and a survival of the fittest ideology espoused by Repubs, especially those on the neo-con end.

      The Treasury should have stuck to their original decision and let AIG go. Whichever way you look at it davdah and OldE, it is the equivalent of short term socialism. Of course, you will justify it differently.

      Oh and Barclays is British. The Brits come to the rescue of the yanks..again. Move over Boston Tea party, the Brits are invading
      "What you see in the photograph isn't what you saw at the time. The real skill of photography is organized visual lying."

      Comment


      • #4
        Originally posted by davdah:
        LOAN: Means they pay it back, with interest. Sounds capitalist to me.
        I'd love to see what interest rate they got. I bet it wasn't anywhere near a commercial loan rate
        "What you see in the photograph isn't what you saw at the time. The real skill of photography is organized visual lying."

        Comment


        • #5
          It's 11.3% that what I saw on TV yesterday. Oh my, how the tide is turning and the people become aggressive lenders.

          Yeah!!!
          “...I may condemn what you say, but I will give my life for that you may say it”! - Voltaire

          Comment


          • #6
            Banking was socialized a long time ago when the government forced banks to lend money to minorities who are known to be bad credit risks. Lend money to a monkey and you get back a banana. The blame is not on greed but on government. Everyone knows what happenned but no one wants to discuss the 500 pound monkey in the living room. Ironically giving loans to minorities was supposed to give them the opportunity to own their own homes. They don't believe in paying bills. You can take a monkey out of the jungle but you can't take the jungle out of the monkey. So now we all have to pay for this great social(ist) experiment. And guess who got hurt the most? The minorities that the government was supposedly trying to help.


            Once again my friends, Government is not the answer to our problems, government IS the problem.

            Comment


            • #7
              Originally posted by OldE:
              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Brit4064:
              Kinda ironic though really. Using taxpayers money to bail out failed banks and insurance companies to avert another 1929 just before election time Flies in the face of a free market economy and a survival of the fittest ideology espoused by Repubs, especially those on the neo-con end.

              The Treasury should have stuck to their original decision and let AIG go. Whichever way you look at it davdah and OldE, it is the equivalent of short term socialism. Of course, you will justify it differently.

              Oh and Barclays is British. The Brits come to the rescue of the yanks..again. Move over Boston Tea party, the Brits are invading
              How could one make an argument in favor of letting entire economy collapse for the sake of not paying anything to fix it?
              That's like refusing to pay someone to fix your car breaks and then getting on to drive it on a highway.

              I don't think there is even a need to refute such arguments. </div></BLOCKQUOTE>

              Well the neo-cons always argue survival of the fittest, ie. let those that fail, fail because they deserved it soooo..... Shows the neo-cons don't always follow their own ideology.
              "What you see in the photograph isn't what you saw at the time. The real skill of photography is organized visual lying."

              Comment


              • #8
                Even a billionaire could become a destitute poor if entire economy collapsed.
                Oh what a shame. My heart bleeds for them
                "What you see in the photograph isn't what you saw at the time. The real skill of photography is organized visual lying."

                Comment


                • #9
                  Originally posted by OldE:
                  <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Brit4064:
                  <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Even a billionaire could become a destitute poor if entire economy collapsed.
                  Oh what a shame. My heart bleeds for them </div></BLOCKQUOTE>



                  Your heart better bleed for your own self, whether billionaire or not, for when economy collapses it effects all, regardless of ones' income level. </div></BLOCKQUOTE>

                  Ditto on that on E

                  Comment


                  • #10
                    Originally posted by iperson:
                    <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Brit4064:
                    <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
                    LOAN: Means they pay it back, with interest. Sounds capitalist to me.
                    I'd love to see what interest rate they got. I bet it wasn't anywhere near a commercial loan rate </div></BLOCKQUOTE>

                    The truth is, that the United States of America as of right now is a bankrupt country.
                    Goldman Sachs is next, and then a few more. 8.500 banks are projected to fail.
                    If AIG needs peanuts for short term liquidity- those few billions are peanuts for a trillion dollar company- they will need more liquidity in what, a month, two?
                    Do they honestly think the US taxpayers are going to bail out every single one? Is US Treasery a bottomless pit of money?
                    After the Iraq war that will cost Americans around 3 Trillion in the long run, where is the money to bail out all the failing banks and firms?
                    Not only is the US completely broke, but it is in severe debt.
                    The US economy is not producing anything, China is. That's where a majority of the money is.

                    All the United States of America currently is.. HOT AIR. Literally. A hot air filled bubble that is bursting.
                    The question is what will be left when it finally collapses and the hot air is gone?

                    The American worker is replaced by cheap labor abroad, so it is redundant. American workers may be hard working, but they've got no work! They've been outsourced.

                    So HOW is AIG going to pay back the debt? Where is it going to get its money from?
                    THERE IS NO MONEY, stupid. </div></BLOCKQUOTE>

                    We can then call USA as United States of Africa. The Change Obama has been looking for. The name fits the situation and ultimate motto.
                    If Democrats Had Any Brains, They'd Be Republicans

                    Democrats - Brave enough to KILL our unborn, just NOT our ENEMIES!

                    Comment


                    • #11
                      The American stock market and economy is doing better than every other country in the world. But the media is spinning this against our team. They are lying like crazy to get Obama elcted. They are in a frenzy.

                      Comment


                      • #12
                        What is Federal Reserve Bank?

                        http://www.federalreserve.gov/genera...faq/faqfrs.htm
                        If Democrats Had Any Brains, They'd Be Republicans

                        Democrats - Brave enough to KILL our unborn, just NOT our ENEMIES!

                        Comment


                        • #13
                          [/QUOTE]The fed is not supported by tax payer money.[/QUOTE]

                          Ummm...lets see:

                          How is the Federal Reserve funded?

                          The Federal Reserve's income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions (the rate on which is the so-called discount rate). After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.

                          Hmmm...so what is the US Treasury?

                          September 17, 2008
                          HP-1144

                          Treasury Announces Supplementary Financing Program

                          Washington- The Federal Reserve has announced a series of lending and liquidity initiatives during the past several quarters intended to address heightened liquidity pressures in the financial market, including enhancing its liquidity facilities this week. To manage the balance sheet impact of these efforts, the Federal Reserve has taken a number of actions, including redeeming and selling securities from the System Open Market Account portfolio.

                          Seems to me like they are very closely linked
                          "What you see in the photograph isn't what you saw at the time. The real skill of photography is organized visual lying."

                          Comment


                          • #14
                            Originally posted by Brit4064:
                            Kinda ironic though really. Using taxpayers money to bail out failed banks and insurance companies to avert another 1929 just before election time Flies in the face of a free market economy and a survival of the fittest ideology espoused by Repubs, especially those on the neo-con end.

                            The Treasury should have stuck to their original decision and let AIG go. Whichever way you look at it davdah and OldE, it is the equivalent of short term socialism. Of course, you will justify it differently.

                            Oh and Barclays is British. The Brits come to the rescue of the yanks..again. Move over Boston Tea party, the Brits are invading
                            Brit,
                            I don't think it is socialism if you use the purest definition. However, since you placed a very broad definition, then yes, you are correct. However, if you look at economic history, that is not the case. I would still call it Keynesian, not socialism. Sir John Maynard Keynes was an extraordinary individual and political economist. And his economic theories were correct at the time because of the dominance of manufacturing. Today, manufacturing is not as significant, but consumer spending. This is why monetarism is now very prevalent. Under a monetarist system, individuals, businesses, and governments are all consumers competing for the demand of the currency. This demand of currency has a direct impact on inflation. If too much currency but little demand, inflation would increase, which is what you are seeing now. Demand for currency is weak because consumers are unwilling to spend.

                            What the U.S. has failed to do unlike Japan or Korea is set up a national economic developmnet plan. The problem I see is Congress, who do not want to give up the power of oversight, and executive, who would lose bureaucratic leadership. An independent council made up of past economic leaders and top notch political economists might be the way to go. The plan would be over a four, five, or six year time frame.
                            "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

                            Comment


                            • #15
                              Originally posted by Brit4064:
                              The fed is not supported by tax payer money.[/QUOTE]

                              Ummm...lets see:

                              How is the Federal Reserve funded?

                              The Federal Reserve's income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions (the rate on which is the so-called discount rate). After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.

                              Hmmm...so what is the US Treasury?

                              September 17, 2008
                              HP-1144

                              Treasury Announces Supplementary Financing Program

                              Washington- The Federal Reserve has announced a series of lending and liquidity initiatives during the past several quarters intended to address heightened liquidity pressures in the financial market, including enhancing its liquidity facilities this week. To manage the balance sheet impact of these efforts, the Federal Reserve has taken a number of actions, including redeeming and selling securities from the System Open Market Account portfolio.

                              Seems to me like they are very closely linked [/QUOTE]
                              Brit,
                              Although Davdah is not correct, neither was your answer.

                              The Fed is supported by two principle investors, the member banks and the federal debt instruments. Member banks will have a required reserve deposited in one of twelve federal reserve banks located throughout the country. these reserves act as assets for the FED. Federal deficits fuel the T-Bills, T-Notes, T-Bonds, savings bonds, and intergovernmental bonds. The T-Bills, T-Notes, T-Bonds, and savings bonds are publicly funded debt, which is about $5 trillion dollars. Private debt, or intergovernmental funded debt is about $4 trillion dollars. Most of the intergovernmental debt comes from the Social Security Administration. If you can surmise, the FED is a quasi government organization funded both by private investors and the federal government.

                              The link from the Federal Reserve web site only describes the operational income, not the entire aspect of the FED.
                              "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

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