Death Of Capitalism

Discussion in 'Economics' started by EMRGLOBAL, Feb 11, 2008.

  1. Feb. 11 (Bloomberg) -- Bank of America Corp., Citigroup Inc. and four other lenders will announce new steps tomorrow to help borrowers in danger of default stay in their homes, according to three people familiar with the plans."

    THE FED, to the rescue of the idiot sheeople.

    The banks to the rescue of the Idiot Sheeople.

    WHAT THE FUCK IS HAPPENING? Everything I learned and was taught about Capitalism is now no longer valid?

    Has socialism finally worked its way in to the minds of the most, as it has here on ET?

    So, now I can run up my debt x 10, purchase a house that I know I can not afford, buy my Hummor, Flat Screens and pretend I roll. And if I get in over my head.....I do not pay the price, I am rescued.


    Where is the risk capital that I lost after 911? It was not my fault I was long when the attacked happen.

    Why are the banks not "Coming together" to keep my 'Lossing" trades from costing me money?

    Why do I have to pay 38%plus in FED TAX, Tax on my risk capital? Why would I not be rescued if I lost in a huge rally, blown out by the market move, lossing my house?

    Why do friends like VN not become a "Target" for rescue and sympthy?


    I will make more money than most and hide away in my little world, of course gota have my Toy's and my Xbox.

    I shall call my profs at my Jesuit Undergrad and UofC B-school to tell them, Capitalism has finally died.

    :( :mad: :mad:
  2. Misses said it... in the long run compromisse and state intervention can only lead to socialism and the totalitarian state
  3. Absolutely; would you chew the hand that feeds you?

    Following this road down only leads to more slaves begging for more.
  4. Everything you learned about capitalism was never valid.
  5. Mvic


    Calm down EMR, there is no free lunch. Someone is going to have to apy, the key is to figure out who and trade accordingly.

    And yes, as someone who sold all his RE and has been renting the last three years and is in the same tax bracket it does suck.

    Sarting to see some foreclosures go for 1999 prices around Boston but most places still selling for 2004-6 prices. Infcat there is a big disconnect between what foreclosures are going for and what regular sales are going for. Suggests that there is a lot more downside to come.

  6. ...and I thought voting for GW Bush made people happy...

    Silly me
  7. mokwit


    Banks never do anything to help people, they only do things to help themselves.

    Foreclosure will lead to banks carrying property on their books in a rapidly declining market, even if the people foreclosed on don't trash the place someone will come in and strip or vandalise the empty houses further reducing vlaue, delaying sale and requiring cash outlay for renovation for a sale to take place.
  8. Neither Political Parties are "capitalist".

    Reps are the closest but they sell out to the masses who are asses.

    Dems are pure socialist, who want re-distribution of wealth.

    What I learned about "capitalism" is more than valid, and sound than any other form of govn of "Markets & exchange", or barter and trade.

    The human mind and emotions are the invalid and unsound of them all. The apathy, the communitarian, the liberal who hates freedom and wealth, the mulitcultural morons who want division and strive to destroy "unity".

    "What you learned about capitalism was invalid"
    Your response shows your "intellectual" structure from some pathetic State University, that cranks out 'Yahoos" much like Ford Cranks out cars. The intellectual void that pretends to be an "Institution of Higher Learning". The joke of the degree that is handed to all you poor saps that feel as if, you truly became enlighten under the rule "brainwashing" disguised as an "education" from your State Run University. Of course, ranked state schools are blessed with a gifted sports team. By all means, let us not take away the "pride" of such ranking.

    Erich From called it. ESCAPE FROM FREEDOM, is what most of the ass clowns in this country are wanting. The sheeople give up their economic freedoms and their "liberties' in the name of safety and equality for all. UTOPIA!

    Of course, there is no more "individual Responsibility". Just blame every one else but yourself.

  9. lol,

    So the bankers are "protecting" their Property from thugs who may damage the "homes" while they lay vacant?

    Oh thats a brilliant argument.

    I mean, god forbid that the wise ones, the smart ones who have yet to buy in the "frenzy" of the run on homes, may think of buying the home under repo?

    The home prices are falling regardless of what the "banks" do. As if the idiots that couldn't afford X are now going to be able to afford the Delayed X due to the "restructuring of the loan"? The false sense of "wealth" to lower ones mortgage payment and extend it 20 generations. Yea, thats how they roll HUH?

  10. This country had 1 chance to start turning things around - he's name is Ron Paul. But of course, we fked that up nicely. How could we not? we are the nation that reelected bush as president, not once...but twice.
    #10     Feb 12, 2008