$this->bbcode_second_pass_quote('Novus', '
')You were robbed even if you didn't borrow a single red cent. As tax payers we were ALL FORCED to bail out the banks.
PeakOil is You
The L-curve
Re: The L-curve
by mos6507 » Sun 04 Apr 2010, 15:51:16
Nobody ever seems to take seriously the notion of banks being too big to fail. The fact that we took one curve, all we can do is fantasize about the road we didn't take. It's conceivable that if the financial system had been allowed to collapse in the fall of 2008, as Peter Schiff and his ilk would have preferred, that we'd be busy beating back zombie hordes today instead of shaking our fist at TPTB for bailouts.
What I'm trying to say is that the system we've constructed is inherently codependent. You can hate the banks all you want, but they are the linchpin of the economy in ways that the average person has a hard time understanding.
If we want to throw the banks under the bus we better well have a way for the economy to function without them, otherwise by letting them fail, it all blows up in our face anyway.
- mos6507
Re: The L-curve
by Outcast_Searcher » Sun 04 Apr 2010, 21:20:02
$this->bbcode_second_pass_quote('Novus', '')$this->bbcode_second_pass_quote('Outcast_Searcher', '')$this->bbcode_second_pass_quote('efarmer', 'I') remember the good old days when they pulled a gun on you and tied you up
instead of loaning you money and letting you act like a rich fool while they were
robbing you blind.
instead of loaning you money and letting you act like a rich fool while they were
robbing you blind.
Since when does irresponsible and/or ignorant behavior, such as borrowing money you can't afford at stupidly high interest rates, without paying any attention to the loan terms equate to being robbed? (Robbery implies with a weapon - by force).
You were robbed even if you didn't borrow a single red cent. As tax payers we were ALL FORCED to bail out the banks. The robber barrons in GS kept all the sub-price profits which made them billionaires but unloaded the costs of the failed mortages on to the tax payer. Classic wealth redistribution from poor to rich. Try not paying your taxes and see if some one puts a gun in your face. Got a problem with that then TS. America is no a longer a democracy.
I agree with this aspect of things, Novus, and see this as a rational response. I also agree that for any unethical lenders who deliberately misled folks buying mortgages, that they and the banks they work for should be punished.
I especially agree with your point about taxes. It is frightening how few people point out the immorality of taking a huge proportion of people's income by force (threat of prison) to redistrubite it to people with "greater need" or basically to steal/waste it as our government does. Ayn Rand did an excellent job of discussing this over 50 years ago.
I'm just sick and tired of hearing that totally irresponsible behavior by a huge proportion of people is fine, and that "they can't help it", by the likes of unthinking folks like PSTARR.
The idea of moderation, personal responsibility, ethics, etc. seems to largely be dead on the left AND the right - a massive symptom of society's ills, IMO. If you point this out, you are generally called "evil" or "mean".
When the productive class is willing to work FAR less in aggregate, due to being unwilling to carry the whiners who expect something for nothing around on their backs, THEN what will these folks get by on? The left will cry for more and more regulation -- I'd agree if government didn't screw up almost everything it touches, including regulation, so thoroughly. As it is, that just wastes more money for the most part.
The conclusion of Rand's "Atlas Shrugged" shows the potential end of the road the left would like to follow.
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