Sanders said “the business model of Wall Street is fraud This is the sort of comment that convinces me that Bernie Sanders doesn’t understand the financial system all that well. After all, this is no different than saying that all Muslims are evil because jihadists attacked Paris over the weekend. That’s just silly, and it’s based on a dangerous and ignorant generalization. What is he saying exactly? Is he saying every accountant, banker, financial analyst, financial planner, manager and sales person on “Wall Street” is part of a fraudulent cartel? This is nothing more than populist rhetoric that some people get charged up about only because they don’t understand the thing they hate. Yes, there is some fraud on Wall Street, but that does not mean the business model of Wall Street is fraud. The next president of the United States shouldn’t engage in earning votes on such lazy and populist thinking. But what’s more alarming, in my opinion, is that Bernie Sanders says these kinds of things because he simply doesn’t seem to understand the financial system or economics all that well. And that makes an extremist that much more dangerous.
ha ha ha, when has any democrat since JFK and Bill Clinton understood the economy? Or for that matter either of the George Bush's? Obama thinks money is something white people have and it is his job to give it to black people. He has no idea where they got it or how they make it. Bernie is no better. He just thinks there is a lot of money out there and he needs it. Has no idea where that money came from and just assumes it was by hook or crook. Hillary is the only one who understands money. 1% of a billion dollar economy is only a million dollars. Not much to grease palms. But 1% of a trillion dollar economy is a billion dollars. And if you can only grease the palms of an 18 trillion economy with just a measely 1%, now, you have some real power. And that is why those that know want to control the economy of the USA, just like a broker or financial advisor wants to control your grandmothers net worth. But yes I agree. At college time, all the liberals went to the political science building to finish out their education which they went brain dead on after graduation and even though they call themselves "progressive" have never progressed beyond the Marxisim that was so popular and what they thought was "progressive" even though it has been proven time and time again to be a total failure. The other half that make the money the progressives need went to business school or skipped college altogether to create an economy worthy of being pilfered by the marxist socialist "progressive" math challenged democrats who are still dreaming of inventing that perpetual motion machine that somehow runs an economy with no friction. Talk about "anti science"! Economics is a dismal science, down on about the same level as psycho therapy. But math is pretty solid. Democrats have great sounding ideas, but when it comes to the math you need to pay for those great ideas they don't have a clue because they simply are unscientific. They understand all the liberal arts, but watch them when you start talking science. If you take a democrat seriously you deserve everything you get. Caveat Emptor has worked well for me, but they want to change that classic advice because they are very shallow small minded people who can't even understand the simplest laws of capitalism.
this is exactly right... This is a world of trade offs.. Fraud is part of the system , not the system... bad behavior gets priced out of the market... larger government is just outright a bad thing... Bernie is just mad... idealistic guys like him believe that they know what is good for the people.. inherently believing in the taking away the choice from the individual..
no kidding. It's all how you view man. If you think man is weak, you need a big government. If you think the individual is very powerful, you need a very just government. USA is a very big economy and needs a very big government. Most of us commoners can't get our mind around a trillion dollars. And that is what our government is dealing with every day. Perhaps USA has just gotten too big for the common man? Bernie advocates for the common man, but what he is really advocating for is a more powerful government. He talks about greed on Wall Street, but that is nothing compared to his greed and the greed of his government which no matter how much you give them always needs more.
Yeah, like the business of government is other? Pleeease. Government says/promises whatever then does the opposite with consistent regularity. How many outrageous lies has Odumbo told? And Hillary? They are sooooo bad, we now expect EVERYTHING THAT COMES OUT OF THEIR PIE HOLES IS A LIE.
Well, let's see, George Bush was our first MBA president. Knew all about them there ekonimics stuff. That worked out real well, didn't it?
Bureaucracies by their nature are corrupt, inefficient and wasteful. That's undisputed and universally recognized. Governments face zero market discipline and competition to keep them honest. They are the monopoly provider of services regulated under their control. So they set the price and tax the citizens. Beyond Defense, Courts and Law Enforcement, there's not much productive activity the Government engages in. Governments always spend more then what they take in. Collect 1 Trillion, spend 1.2 Trillion. Collect 1.2 , spend 1.5. Politicians buy votes by creating social programs paid for with taxpayer money. Taxpayers are stupid and think they're getting a free lunch. This is why growing Government is a very foolish idea. It suffocates the real economy, is tacitly accepted by the idiots who think they're getting a free lunch, while the public debt is run up to stratospheric levels. Humans have tried this before. Ends in tears when the golden goose is killed and/or the credit card is maxed out. Don't confuse reserve currency status with Americas actual productivity. Americans are living off the coat-tails of reserve currency status. When that ends by running up the debt, they'll find they're much less wealthy then they thought they were. Delusions of grandeur. Pride before the fall etc.