21% of Spain's debt is held by local governments. As for Italy, you think a debtberg of over 100% of GDP doesn't indicate overspending? In any event, I wholeheartedly agree that regulations need to be imposed. Abolish the Federal Reserve - a vast fount of moral hazard and glaring example of regulatory capture if there ever was one - and transfer some of its emergency-liquidity functions to the Treasury, operating within strict statutory limits. Increase TCE requirements on banks and BDs to 20% at a minimum. Implement a strict balanced-budget amendment to the Constitution. Problem solved.
It's at the very least intellectually dishonest to drive interest rates down to zero, watch a bubble inflate, then throw up your hands and say "but we didn't force anyone to speculate!" when it all comes crashing down. It was quite transparently the objective of government policy to boost demand for housing by increasing the availability of mortgage credit - through low rates, direct subsidies and market support in the manner of FHA/FNM/FRE, and regulatory forbearance. This really can not be disputed. If the private sector had not responded to these measures in the manner desired by government planners, they would have simply kept throwing 'stimulus' at the problem until the market did respond. This is more or less exactly the situation we're in now.
we are responsible and we need to think about who we put in charge,we need to vote,run the dems and reps out .only way to break the machine,before it's too late,
And why not take HUGE risk speculating when gov't has your back and will bail you out if you implode the company and the economy with you? Too Big To Fail is the biggest Socialist scam of all because those in it get the biggest amount of payoff. You think teachers have it good? Try killing the world economy and pocketing millions (or hundreds of millions) for it.
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Nah! He's way off. He thinks that's not the thief to blame, but who shouted "Thief!". The Asian names in the US colleges comment is stupid too. That made me stop watching: waste of time.
Unless US/EU aligns Migrant/Immigrant Visas and Outsourcing to Caste system in India and Human Rights in China, their middle class will be destroyed. http://www.rediff.com/business/slid...forced-to-sign-no-suicide-pledge/20110504.htm http://news.rediff.com/report/2009/sep/29/un-says-indias-caste-system-a-human-rights-abuse.htm
No, Occupy has no real basis--other than a bunch of slackers who want their own bailouts. Very little of it is about the real issues.