What do we have to fall back on if we average Americans take risks and loose? We did have the bankruptcy law, but Bush sure screwed us on that. So who do we have to back stop us?
We have people like yourself making posts like this in the "Economics" thread. You realize there's a "chat", right? If you're that much in need of human interaction, you should hit that place up.
Why can't we talk about how we are getting screwed in the economics section? Guess that is how "economics" has operated the last 90 years - watch the pretty mathematical models, don't pay any attention to the underlying fact that you are a serf in a fiat currency system. Personally I think this topic is a lot more important to master than most others. He makes a valid point, not only do we have no right to create our own gambling money (like banks do) but then when we fail at gambling the Fed won't bail us out either. Any wonder that banks dominate our economy and no one saves money anymore?
Thats right. The entire monetary system is built on a moral hazard. The Banks OWN the Federal Reserve. That means if they collectively take on too much risk and hang their asses out in the wind, they Vote a FED bailout to save the market, and in turn, their own underwater positions.