Is This A Free Market Economy?

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Arachnid
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Is This A Free Market Economy?

Post by Arachnid »

OK so every great empire has come and gone since the beginning of time.

The bailout of the American banks is a huge thing. It makes me wonder if we are grasping at straws here. Maybe we should just let things run it's course and let everything go. There has to be a lesson here.

http://www.reportonbusiness.com/servlet ... iness/home

This is really freaky
It calls on Congress to give the government virtually unlimited authority, including the power to override courts, to buy up to $700-billion (U.S.) worth of soured residential and commercial mortgage-related assets, from financial institutions operating in the country.
Now I'm no communist (I'm actually Green collared :D )but the collapse of the Soviet Union was decried as the failure of that system. How is this any different? It's not working like it should. The bankers and the rich get a get out of jail free card while the common man loses their house and jobs?

I have always felt we live beyond our means and are fooling ourselves if we think we can just keep on keep'n on, consuming things to make the economy grow. The events of the last few weeks just proves that.

Time to burst our bubble and a reality check.


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Cornuck
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Re: Is This A Free Market Economy?

Post by Cornuck »

This is just the beginning.

There's a bill drafted that will allow the Secretary of the Treasury to spend up $700 Billion at any one time.
The bill also states the decisions are non-reviewable - by any court. Keep in mind that the Secretary, Henry Paulson worked for Goldman Sachs for over 20 years, so he has a few buddies to take of.

It will be getting alot worse. It's only a matter of time until the US goes bankrupt. After that all bets are off. Will it be a 30's style depression? Introduction of the Amero? Who knows.

Here's a good article LINK

The great thing about 'free speech' in America? The leaders give knowing that it has no effect. They'll do what they want anyway.

For entertainment's purposes, here's a near-live ticket for the value of the USD : LINK
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Re: Is This A Free Market Economy?

Post by Arachnid »

Am I the only one that wants the world economy to fail so we can stop living beyond our means, get a reality check and start over with a Green based market? :?

If you think we don't live in a manipulated facade then read this:
Quote from the bio of Ben Bernanke .. U.S. Federal Reserve

Bernanke is particularly interested in the economic and political causes of the Great Depression, on which he has written extensively. ..."Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.
http://en.wikipedia.org/wiki/Ben_Bernanke

I'm just say'n is all. Don't fool yourself for a second. No conspiracy about it. :|


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Re: Is This A Free Market Economy?

Post by ClamRussel »

Read this: Mushroom Cloud over Wall Street
"One bank to rule them all;
One bank to bind them..."
"Once a King, always a King" -Mike Murphy
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Re: Is This A Free Market Economy?

Post by LotusBlossom »

Arachnid wrote:Am I the only one that wants the world economy to fail so we can stop living beyond our means, get a reality check and start over with a Green based market?
I don't know how far we have all gone living beyond our means, generally speaking of course. It has not been my style to do so. At a fairly young age, I was given this responsibility to care for another life so I always made a conscious effort to live within my means. At the same time, if I can afford it, I'll buy it. I think we are allowed to reward ourselves for the hard work we do and to enjoy the fruits of our labour.

That being said, do I really need designer shoes and designer clothing? Not really, but I like them and buy them when I can afford them. What's bad is people are racking up debt and staying in a vicious cycle. They are working to cycle their debt. People don't even pay much of the principle on their credit cards, they are working to payoff the interest. If you don't have to carry a balance at the end of the month on your cards, why do you? I hate giving my money to other people so they can charge interest on a balance I shouldn't really use. Usury is the way of the world...and we keep it going.

You're right, we all have too much stuff, sometimes it's better to just go with what we really need...in this day and age the definition of 'basic needs' in life sure has changed from even the 90s
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Re: Is This A Free Market Economy?

Post by LotusBlossom »

ClamRussel wrote:Read this: Mushroom Cloud over Wall Street
"One bank to rule them all;
One bank to bind them..."
Amen. The transformation from a free market to a centralized, Soviet-style economy run by men whose judgment and credibility is already greatly in doubt; does not auger well for the markets or the country. Anyone with a lick of sense would cash in their chips first thing Monday and look for capital's Elysium Fields overseas or as far as possible from the circus sideshow now run by G-Sax ringleader, Colonel Klink.

Maybe the pinko commies were right :P
I feel like the US has allowed its populace to "Fake it till they make it" and now are seeing the repercussions of their actions. GOOD JOB! A big problem with the bank structure of the US is it's not federally regulated like it is in Canada. It's all done on a state level. So different rules for different states. When you look at it in Canada, TD, RBC,CIBC...etc etc..all have to follow the same set of rules, from one coast to the other. It's not quite that way in the US. A Wells Fargo in California has slightly different rules from the Wells Fargo in Washington State. They do not adhere to the same rules down the line. "Franchised" banks, don't work as well as "Franchised" fast food. Unfortunately, it's far too easy to have your own bank in the US. Gotta love the "McDonald's mentality "of banks in the US... For an extra $$$$ would you like that supersized?
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Re: Is This A Free Market Economy?

Post by LotusBlossom »

Here is Ron Paul's take on this whole bail-out.

http://campaignforliberty.com/

He makes a lot of sense. Too bad the US Administration doesn't listen to Ron Paul.
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Re: Is This A Free Market Economy?

Post by Arachnid »

LotusBlossom wrote:Here is Ron Paul's take on this whole bail-out.

http://campaignforliberty.com/

He makes a lot of sense. Too bad the US Administration doesn't listen to Ron Paul.
You gotta love the Ron's of this world. :mrgreen:

More Ron's is what we need!


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Re: Is This A Free Market Economy?

Post by LotusBlossom »

http://www.cbc.ca/money/story/2008/10/01/congress.html

If they pass this, I am going to move back to Canada, not that I can escape it...but it's not promising.

:?

As Ron Paul has said, markets repair themselves, and to punish the general populace for the mistakes of the rich and stupid is not only unfair, but just down right fucking wrong.
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