Deal, I gotta run, so I will be looking for the commentary, I think you have something to offer on the macro side that might help all of us. I know very little about econ theory in detail. So spell out how we could have avoided this reset. Who knows, this could be your "Book of Eli" moment. And, no, I am not joking.
Ok, back. So as I mentioned, "how would you save the world" is a bit too general to answer in something so short as a forum post. But the first thing (which won't surprise you) that I would do is get rid of the Fed. It's harmful. Interest rates can be set by a computer. We don't need a super bank who's interest is merely to prop up zombie and criminal institutions who are speculating in markets at the expense of the public. Which brings me to point #2, bring back Glass-Stegall. Make it illegal for banks to be anything other than banks. Get them out of the business of trading. Then, prosecute and put people in jail, throw away the key of executives who knowingly engage in fraudulent activity. CEOs and company execs who cause catastrophic losses to their company through negligence need to have bonuses clawed back, and never work in their industries again. No federal bailouts moving losses to the taxpayer side of the equation, ever. A company goes bad, it gets to go through the bankruptcy proceedings set to handle companies going bad. No more picking and choosing who wins and who loses. The company that wins is the company that runs itself profitably within the scope of the law. Refine regulatory oversight. It's worthless, and in many cases complicit in illegal/immoral activities. Get rid of the nest of vipers completely. Replace it with IRS type personalities - lower paid individuals that have no ties to government and politics. Make executives on Wall Street fear when they come to audit. Get rid of lobbying and any interference whatsoever from the private sector and washington. A politician who takes a donation or a payment from any corporation goes to jail. The company that makes the payment gets fined outrageously. Politicians are arrested for insider trading. Politicians are forced to have term limits, and get paid almost nothing, have all their expenses paid for them (housing, medical, etc) and their family, but once done with their term return to the private sector world without life pensions. If you want to keep medical benefits, i'm ok with that. But make it like Jury Duty or being called up by the National Guard. If you get called to political service, you go serve and your job is kept for you wherever you work so you can return when done. This is just to start.
Neither of you two imbeciles has even addressed ONE point in the entire article. Per usual, just a bunch of ankle biting...
It's a poorly written article. Have twinkle Tao copy and paste a better written article that expresses his thoughts.
+1 Its funny cause both of them simply say everyone else is an idiot, yet neither one will ever engage in any kind of debate on economics.... Tsing Tao and many others have posted our views, yet their only response is "you dont know what your talking about." I think that both Brass and Bigarrow realize they are in over their heads.....
Would the proper way to address twilight Tao views as expressed in the article be to copy and paste another article?