If you can get the whole forum to understand this. We could start to have a real debate about are economic problems
agree the last thing the fed wants is to expose their irrelevance so they will try to save the system and bring the rest of us with them
The principle to understand economics is to understand money. Because the language of economics is money.
Just give every registered voter in the US $500,000.00 USD. All forms of welfare, SSDI, SS, AFDC, Food Stamps, Seniors Drug Plan, and all business/bank bailouts, stop, forever. Never again. Those that succeed, well, God bless the child who's got his own. The rest, who waste away their free gift, can live in a box under a bridge. Problem solved. KingofShorts wrote""Unfortunately the masses think the FED is the US govt. "" They also think H&R Block is the IRS One of my old High School teachers used to work for Block, and he said at least 60% of everyone that walked in the door totally believed that H&R Block IS the IRS. Amazing.
I agree kingofshorts !! I also think that the government should take over all gas/oil companies. Didn't Exxon/Mobil post something like $ 45 billion record quarterly profit and Shell posted $ 10 billion and thats just 2 of the companies. There's $ 55 billion right there in one quarter. Also the problem with building more US refineries solved and the Fed sets the price of gasoline in the US (I dont know how they would work that in different part of the country like California?) Also, charge a fair price and get rid of all state gas taxes and let the Fed divide up the profits between the states. But can you imagine if this would happen, no more political contributions to the crooked congressman, senators and other political parties ?? Don't beat me up too bad, guys
i disagree the government should only have a few responsibilities defense (includes checking imports) control of its sovereign money supply protecting rights i'm on the fence about education i think it's crucial to our superpower status. and that everybody should have equal access but I'd rather not see government involved and probably minimum standards in food , drug , water and air regulations every thing else to states and local however i think we can all agree that the oil off the coast or any oil on sate or federal land should given to the people. not these bs contracts like in the gulf, where exon pays 1000000 to pump as much oil as they want. We should hire a contractor to extract it and sell it on open market use the money to relieve tax burden. and none of these selling gov and state land with known reserves to corporations at discounted prices crooked bastards
Um...no. LTCM was a private bailout. If you got into financial trouble and your friends pulled together to bail you out, should I have a problem with that? I think you would agree I shouldn't. The banks are a different story altogether. They are heavily regulated, which means that the government already partially runs them because it controls what they can and can't do. The government set the risk parameters and all the banks were compliant. The problem is that the dumbasses in government wanted more "home ownership" and passed all kinds of laws to force banks to lend to uncreditworthy individuals. Add to that the subsidizing of mortgages by Fan & Fred (essentially putting government in the lending business) and Fed stomping on interest rates in 2001, creating huge demand for loans and sloppy lending necessary to hold on to market share in the face of such demand and you have the mess we have today. I would say the government has done quite enough, thank you. It's now time to kick it out of the game.
Just a couple of sticking point: 1.)where are you going to get the money to give to everyone? 2.) without all these government programs, the power of government weakens considerably and the politicians will lose an immense amount of power. You don't really think they're going to let that happen, do you?