Deflation naturally follows over-investment and debt bubbles, it's just a natural part of the economic cycle, natural like sunshine and rain, it's happened at least 5 times in our countries history. This situation is like snow in Miami, it's been so long since anyone has seen snow in Miami that they've decided to freak out and crash some cars, when what they probably should do is just calm down and try not to make things even worse by over-reacting.
Yes, it's going to be hard on some people, but it's always hard on some people. What makes indebted borrowers worth more to us than people who have paid their homes off and have been saving money for the past decade, people who are still solvent ? Why is it okay to take a saver's money and use it to bail out troubled borrowers, or to harm successful banks in favor of failing ones ? Why must we retain the status quo simply because it is the status quo ? Change is good, embrace it, go with it, let it happen. It was an unsustainable bubble, stop trying to sustain it.
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What are you pretending not to know ?
Deflation naturally follows over-investment and debt bubbles, it's just a natural part of the economic cycle, natural like sunshine and rain, it's happened at least 5 times in our countries history. This situation is like snow in Miami, it's been so long since anyone has seen snow in Miami that they've decided to freak out and crash some cars, when what they probably should do is just calm down and try not to make things even worse by over-reacting.
Yes, it's going to be hard on some people, but it's always hard on some people. What makes indebted borrowers worth more to us than people who have paid their homes off and have been saving money for the past decade, people who are still solvent ? Why is it okay to take a saver's money and use it to bail out troubled borrowers, or to harm successful banks in favor of failing ones ? Why must we retain the status quo simply because it is the status quo ? Change is good, embrace it, go with it, let it happen. It was an unsustainable bubble, stop trying to sustain it.
You'll never get elected on that platform. (g)
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“Scientists are people who build the Brooklyn Bridge and then buy it.” Wm. F. Buckley, Jr.
windy - surely you aren't suggesting they take economic measures are you?
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
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my house lost 200,000 when the bubble burst, ok wich one of you libs is gonna repay me. After all its a investment there never supposed to loose value..
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A long time ago, my mother said something about not being able to sleep at night worrying about me. I told her, "Don't be foolish, I don't skydive at night."
"You gain strength, courage and confidence by every experience in which you really stop to look fear in the face...You must do the thing you think you cannot do."
Eleanor Roosevelt
1. the pointlessness of shoveling huge piles of money into private banks
2. what will happen to his OWN wealth if we allow a series of large bank failures.
Wake up folks. If you think we can allow our money center banks to go belly up and nothing bad will happen to YOU then you are living in a magical world where fantasies can replace reality.
Wouldn't happen to have some empirical evidence to support that view would you sck?
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind - To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
As John Miller states in NRO, one might look to Silent Cal, rather than FDR.
Quote:
Coolidge didn't participate in the onward march of an ever-growing government. In fact, he actively resisted it. "The people cannot look to legislation generally for success," he said in one of his most famous speeches. "Industry, thrift, character, are not conferred by act of resolve. Government cannot relieve from toil."
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind - To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
1. the pointlessness of shoveling huge piles of money into private banks
2. what will happen to his OWN wealth if we allow a series of large bank failures.
Wake up folks. If you think we can allow our money center banks to go belly up and nothing bad will happen to YOU then you are living in a magical world where fantasies can replace reality.
I think he's thinking about the same thing that all politicians think about these days. Political contributors. This does lead back to his own wealth, but in a different way than it effects most people's wealth.
You say it's pointless to shovel huge piles of money into private banks, but how much money do you think they'll shovel in if the government takes them over? If 11K per person per year spent on Medicare and Medicaid sounds outrageous, just wait and see what they'll do with banking. There is a good reason that politicians are not business leaders. They're no good at it. The housing bubble and the ensuing crash were caused by government meddling in the mortgage industry. There's no reason to think they'll do any better with the rest of the bank.
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To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. John USYacht 27 "Cora Lee"
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