Seeking a deal with Iran to "strengthen" the petro dollar is just silly in light of how fucked the dollar is at home.
-John
-John
Pretty sure 401ks were created by the government.
You have that backwards. It's the government that owes that money to its bondholders. Our taxes are the de facto collateral to that debt, yes, but we the people are not actually obligated to its repayment.
Long overdue correction with a buying opportunity coming up.
It's hard to make money from buying and selling if prices always go up.
Wonder what this will do to the housing market...
:hmm:
Yarp.
And? Go on, what is your point?
LOL, I'm not a victim, obv. I call out people, government, and get attacked in turn.
-John
Would you like to talk about how fucked we are?
-John
Markets in a tailspin?
-John
Capitalism: Time For You, Your 401k And Your Tax Dollars To Bend Over And Take It,... Again.
Under a Republican president the economy is the government's fault, under a Democrat president the economy is capitalism's fault.
LOL, Democrats.
I disagree that capitalism should be blamed for government distortions of the market place.
And yet the government was required to bail out the market place as a result of '08. Let me guess, the government was at fault for going through with the bail out, huh?
Banks aren't ordinary businesses. They're responsible for the credit cycle. They create most of the money that is used in an economy. Since the fed's infinite QE over the past six years, people have tended to forget this important fact and have come to believe that it is the fed that is responsible for creating new money. Sure, they've created $3T+ of new money since the recession but historically, that's not their role. That is the role of banks.What does a government bailout have to do with capitalism? Capitalism is about the efficient allocation of capital. In the free market when a company goes out of business, it goes bankrupt and liquidates its debt and that debt is sold off at a discount because servicing that debt at face value would be the opposite of efficient capitalism; throwing money from productive ventures to cover losses in a unproductive, unprofitable venture. A bail out of failing investments is the opposite of what happens in a free market, capitalist economy. All you've described is government central planning and blamed capitalism.
The sharpest market collapse in US history was the Recession of 1921. President Warring G Harding at the time correctly rejected suggestions by Keynesians to spend money and stimulate. Instead, he cut taxes, cut spending, and there was no bail out, and the economy fully recovered in a year and half, and the government didn't have to go into massive debt stimulating the economy, and the markets naturally re-allocated assets into productive ventures without government interference. The recession itself was simply a correction from the mis-allocation of capital in the market caused by the US government's involvement in WWI and the artificial short-term stimulus that was created.
What does a government bailout have to do with capitalism? Capitalism is about the efficient allocation of capital. In the free market when a company goes out of business, it goes bankrupt and liquidates its debt and that debt is sold off at a discount because servicing that debt at face value would be the opposite of efficient capitalism; throwing money from productive ventures to cover losses in a unproductive, unprofitable venture. A bail out of failing investments is the opposite of what happens in a free market, capitalist economy. All you've described is government central planning and blamed capitalism.
The sharpest market collapse in US history was the Recession of 1921. President Warring G Harding at the time correctly rejected suggestions by Keynesians to spend money and stimulate. Instead, he cut taxes, cut spending, and there was no bail out, and the economy fully recovered in a year and half, and the government didn't have to go into massive debt stimulating the economy, and the markets naturally re-allocated assets into productive ventures without government interference. The recession itself was simply a correction from the mis-allocation of capital in the market caused by the US government's involvement in WWI and the artificial short-term stimulus that was created.
What does a government bailout have to do with capitalism? Capitalism is about the efficient allocation of capital. In the free market when a company goes out of business, it goes bankrupt and liquidates its debt and that debt is sold off at a discount because servicing that debt at face value would be the opposite of efficient capitalism; throwing money from productive ventures to cover losses in a unproductive, unprofitable venture. A bail out of failing investments is the opposite of what happens in a free market, capitalist economy. All you've described is government central planning and blamed capitalism.
How is it hard to make money if no matter when you buy something it's price continues to go up? A trained monkey can make money if prices always go up.