#OccupyWallstreet

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novasatori

Diamond Member
Feb 27, 2003
3,851
1
0
That is not what they're after. They hate business because it has more money then them. They hate business because they thought after graduating with a lib arts degree big buisness will give them all free bmws, and free houses on 5th ave. And then reality hit and it wasn't a gravy train.

I dont agree with companies being bailed out. You take risks and fail, you go under. I dont agree with them writing rules thats favor one company or another.

But I dont agree that there is such a thing as too much profit. I dont agree that business is some how 'robbing' the poor, and taking their money. I dont agree the rich should pay more in taxes. I dont agree that government should make everyone equal.

so, to summarize, you ask what "they" want, because you don't know, then you fabricate some stuff you say "they" want.
then you say that you agree with things I said, which are things I've read as wants from OWS people...
 

MooseNSquirrel

Platinum Member
Feb 26, 2009
2,587
318
126
Well if you wanna get technical, starting in the mid 90s FNMA and FHLMC had a mandate of what % of their portfolio had to be subprime (combined they two entities are 40% of the secondary market) and after 96 it included mandate for "specially affordable loans". Those percentage requirements went up as well.




It's not surprising (in retrospect) that there was a self-reinforcing dynamic in the system - each and every person i've listed was benefitting from what was happening. As I said, placing blame exclusively on a single action is just showing your bias.

1. http://www.nybooks.com/articles/archives/2011/oct/27/did-fannie-cause-disaster/?pagination=false

2. http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1

Enjoy!
 

fskimospy

Elite Member
Mar 10, 2006
85,709
50,998
136
I've got history and all you have are insults.

You don't have history, and I'm not insulting you. If what you post here is indicative of what you actually believe, then I genuinely think that you are mentally ill.

Like, seriously. If your health plan covers it, I strongly encourage you to have yourself evaluated.
 

Craig234

Lifer
May 1, 2006
38,548
350
126
What repuclican are you talking about? for someone calling people out as idiots and parrots, you sure are quick to label others.

The many who post the kind of gibberish you did.

I'm stilling waiting for someone to define / clarify for the majority what the OWS crowd wants, and what their gerviances are.

Bill Clinton's answer to this is, 'they feel things have gotten too unequal, and many of those who caused the problems are gaining the most.'

The thing is, no one can, becauses its a large group of angry people, each of which wants something else. The only common thread is their hatered for Wall street and capitalism. A claim which they will deny because they know if they admited the truth they would lose even more support.

The thing is, yes they can. A large group of angry people who wants different things? Did our founding fathers completely agree on what they wanted? Hardly. They fought bitterly over fundamental differences. For example, Hamilton wanted a more aristocratic government, a President permanently elected (like a King), a powerful central bank; others wanted something quite different. And yet they were 'the founding fathers', united for founding this country.

A common delusion of the ignorant is to claim 'hate' by their opponents to dismiss them.

Blacks complaining about civil right inequality? They hate whites. Citizens complaining about religion overreaching? They hate Christians. People saying there's a problem with the few at the top taking all the economic growth and more than doubling the share of income they take? They hate them. It's idiocy and a lie. It shows you do not understand and cannot discuss the issue.

They hate CORRUPT capitalism. They don't hate capitalism. The basic capitalist system and 'free market', of labor, production, selling for a profit, competition - no problem. A moderate inequality, no problem. But when Wall Street goes from being an engine for the economy adding value to the finance sector, which they have no problem with as a profitable industry, to one taking 40% of all profits instead of 10% and doing more taking of wealth with 'gambling' and other manipulations instead of helping businesses, they hate that they same way people hate any thieves, especially ones who are destroying the American middle class and taking trillions from the people to the wealthy.

So your post is just a straw man, ignoring the issues and making absurd false attacks.
 

crownjules

Diamond Member
Jul 7, 2005
4,858
0
76
I've got history and all you have are insults.

Actually, events going on right now have a much closer parallel to events prior to the French Revolution than anything else. A heavily indebted government, an upper class rich beyond anyone else in the country with many tax exemptions, and that upper class refusing to help pay for the country's debt while expecting the lower classes to accept that burden via even heavier taxes. I believe a republic was born from that revolution, not a communist one.
 
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werepossum

Elite Member
Jul 10, 2006
29,873
463
126
Actually, events going on right now have a much closer parallel to events prior to the French Revolution than anything else. A heavily indebted government, an upper class rich beyond anyone else in the country with many tax exemptions, and that upper class refusing to help pay for the country's debt while expecting the lower classes to accept that burden via even heavier taxes. I believe a republic was born from that revolution, not a communist one.
Some might find a slight discrepancy between a crowd of starving people and a crowd of people demanding that someone else pay to upgrade their iPhone 3 to the latest iPhone 4.

The best parallel would be a ward of neglected babies, right down to the foul smell, screaming for a tit, and total self-interest.
 

crownjules

Diamond Member
Jul 7, 2005
4,858
0
76
Some might find a slight discrepancy between a crowd of starving people and a crowd of people demanding that someone else pay to upgrade their iPhone 3 to the latest iPhone 4.

The best parallel would be a ward of neglected babies, right down to the foul smell, screaming for a tit, and total self-interest.

I said draw parallels. I didn't say it was the exact same thing. It was more to refute the idea that these events were closer to the communist revolutions than anything.

Though you wonder, with food prices rising and unemployment not going away, how far are we from starving masses?
 

Craig234

Lifer
May 1, 2006
38,548
350
126
Haven't you heard this president ramble on and on and about those greedy "fat cats on wall street", the "millionaires and billionaires"? His constant demonizing of said "fat cats"? That's him stoking the proletariat to rise up against the bourgeois. And that's exactly what you're seeing here.

We've seen it before, it's a familiar path all cheered on by Obama. Why do you think I keep using the term "useful idiots"? Because everything being done has happened before in any communist revolution, it's how Marx planned/predicted things and they're just following the path.

You must make the proletariat believe it's the bourgeois who are the cause of all their problems. And that's exactly what Obama has been doing since he's gotten into office, and these dirty hippies fell for it. What's even more funny is the communist protesters would likely be killed for what they're doing if we had their communist workers paradise. America haters, every last one of them.

No, you're wrong. The fact is, the abuse of power, tyranny, oppression, these are human issues as old as civilization. The oldest civilizations were filled with rulers who had it quite well forcing thousands of others to slave away - often literally - providing them wealth, building pyramids and other such activities. The issue existed then and now about the balance of the 'elite' and 'the people'.

But you have such a simplistic understanding you lump all the issues under one thing, 'communism'. Fact is, these issues are not about communism. That's one response, not a good one; there's the French revolution, there's the English democratization and the rebellion of the US colonies, there's the Arab Spring, there are liberal and anarchistic responses, assassinations, all kinds of ways the issues are approached, but you only can say one word, 'communism'.

Issues of excessive concentration of wealth are not about 'communism'. Not every concern about them is 'communist'. The war on poverty wasn't 'communist' - fought by the same man who was fighting the cold war against the 'communists' and thinking he was fighting 'global communism' in Vietnam.

Complaining about the excessive concentration of wealth - fat cat billionares - isn't communist. Warren Buffet complaining about inequality isn't communist.

We had your system - a wealthy class buying government, shooting union organizers, with poverty for workers, child labor, no safety requirements for workers, all kinds of problems for the people while the tycoons did quite well, in the gilded age. The people finally fought and won some reforms and we saw unions lead the way to end child labor (a main reason wasn't the welfare of children, but to reduce the labor competition to increase wages, but that's ok), the 40 hour work week, safety protections, the 'weekend', overtime, better wages and a prospering middle class. That wasn't communism, when they fought the 'fat cats'.

You don't know anything about Marx IMO but a few buzzwords to throw around like a 'useless idiot'. You don't know what he was right and wrong about, you don't know the relevance of any of his economics to today's policies. You just spout the few words you know wrongly, because you like to attack ignorantly, not say something useful.

Fact is, liberals oppose communism, but the idiot right can't be bothered to understand the issues and so they repeat their mindless 'communist' attack.

You support policies terrible for Americans because you are ignorant and can't tell the difference between wanting Americans to do better and communism.

You're the economic equivalent of people who demanded we have a nuclear war with the communists, because we'd come out lightly better. Clueless what's good for the people, obsessed with 'communists'. America had progress as it changed the policies of corrupt capitalism, you want to go back to the terrible situation for people in the name of anti-communism. You're like a cultist, with a mantra "communism! communism!" and clueless about the policies you champion.
 

Craig234

Lifer
May 1, 2006
38,548
350
126

Ausm

Lifer
Oct 9, 1999
25,213
14
81
You don't have history, and I'm not insulting you. If what you post here is indicative of what you actually believe, then I genuinely think that you are mentally ill.

Like, seriously. If your health plan covers it, I strongly encourage you to have yourself evaluated.

I think the shrink that Spidey goes to would have to see another shrink after evaluating him
 

actuarial

Platinum Member
Jan 22, 2009
2,814
0
71
I'm glad you are confirming that they are anti-capitalists. At least one of you is honest.

Is it anti capitalist to be against monopolies? Is it anti capitalist to legislate against collusion?

Being against large powerful corporations does not automatically mean you're anti capitalist. Actually, it has nothing to do with capitalism unless you're advocating nationalizing those corporations. The size of a corporation has nothing to do with capitalism at all.

It may be against free market principles, but then so are monopolies. They're just a capitalist controlled market instead of a communist controlled market.

People who advocate for limiting the size of corporations, while keeping them privately owned, may be against free markets (unless the corporations themselves are restricting free market activities). But unless they're advocating the nationalization of those corporations, they're not speaking about capitalism/communism in any way.
 

Craig234

Lifer
May 1, 2006
38,548
350
126

Nice pic. I'd just say 'lobby for' is too weak for corrupting democracy by forcing most candidates to get the approval of these corporations because they need their money.

The corporations filter who can win usually, and write the laws they want, and the result is the stealing of trillions of dollars from the American people.
 

michal1980

Diamond Member
Mar 7, 2003
8,019
43
91
You realize that you're just inventing positions in your head for these people to hold, right?

I've actually been there and listened to the people protesting there, have you? Of course not, but that doesn't stop you from thinking that you know exactly what this huge, nebulous group 'believes'. There might be some people there who think the things you just made up, but that is in no way the prevailing sentiment there.

The prevailing sentiment is exactly what other people have been trying to tell you. Wall St. has rigged the game in their favor, and they are screwing us all over.

I just read the positions the post on their website. Dont live in New york.

If this group is so large and has no firm beliefs, then how are you saying they are just anti-wall street? I mean the group is large and nebulous.
 

michal1980

Diamond Member
Mar 7, 2003
8,019
43
91
The many who post the kind of gibberish you did.



Bill Clinton's answer to this is, 'they feel things have gotten too unequal, and many of those who caused the problems are gaining the most.'



The thing is, yes they can. A large group of angry people who wants different things? Did our founding fathers completely agree on what they wanted? Hardly. They fought bitterly over fundamental differences. For example, Hamilton wanted a more aristocratic government, a President permanently elected (like a King), a powerful central bank; others wanted something quite different. And yet they were 'the founding fathers', united for founding this country.

A common delusion of the ignorant is to claim 'hate' by their opponents to dismiss them.

Blacks complaining about civil right inequality? They hate whites. Citizens complaining about religion overreaching? They hate Christians. People saying there's a problem with the few at the top taking all the economic growth and more than doubling the share of income they take? They hate them. It's idiocy and a lie. It shows you do not understand and cannot discuss the issue.

They hate CORRUPT capitalism. They don't hate capitalism. The basic capitalist system and 'free market', of labor, production, selling for a profit, competition - no problem. A moderate inequality, no problem. But when Wall Street goes from being an engine for the economy adding value to the finance sector, which they have no problem with as a profitable industry, to one taking 40% of all profits instead of 10% and doing more taking of wealth with 'gambling' and other manipulations instead of helping businesses, they hate that they same way people hate any thieves, especially ones who are destroying the American middle class and taking trillions from the people to the wealthy.

So your post is just a straw man, ignoring the issues and making absurd false attacks.


They hate capitalism. I've read their writings on the OWS website.
 

michal1980

Diamond Member
Mar 7, 2003
8,019
43
91
Nice pic. I'd just say 'lobby for' is too weak for corrupting democracy by forcing most candidates to get the approval of these corporations because they need their money.

The corporations filter who can win usually, and write the laws they want, and the result is the stealing of trillions of dollars from the American people.

what money are they stealing?
 

fskimospy

Elite Member
Mar 10, 2006
85,709
50,998
136
They hate capitalism. I've read their writings on the OWS website.

You've read anonymously posted comments on a website and now you know what the people camping out on Wall Street think. Can you think of any problems with this line of reasoning?
 

bfdd

Lifer
Feb 3, 2007
13,312
1
0
btw just because I am critical of them does not mean I don't support their rights to protest or don't see issues plaguing our nation some of which they are correct on. I just disagree with the message we're getting from them and if it was something I agreed with I would join them after I got off work.
 

HendrixFan

Diamond Member
Oct 18, 2001
4,646
0
71
I'm much more sympathetic to limiting or controlling punitive penalty fees and the like -- as the predatory aspect is much more salient -- but, unless my skills of statutory interpretation have completely failed me I do think that the CARD Act prohibits a lender from re-pricing risk.

Then it has failed you. You are looking at it, and apparently your whole post, from a narrow view where your ideology clouds your ability to gauge the situation properly. You aren't taking in facts and forming an opinion, you are trying to gather facts that bolster your opinion.

I understand your point about secured debt versus unsecured debt. I knew the difference when I mentioned home and car loans versus credit card limits (loans). The fact that assets can and will be seized for a home or car is priced into the loan. That is why you won't find someone with a $50,000 income getting a credit card limit of $150,000 at a locked in 5% rate for 30 years. Credit card companies will typically only give credit limits that, when combined with other cards already opened, meet your annual household income. Not 3 to 4 times your income like home loans. And they certainly won't lock in a low rate for 30 years.

Where is your concern that lenders can't reprice risk for home loans by adjusting the rate? It doesn't exist because you know that is built into the loan from the start. The CARD Act resulted in issuers dropping teaser rates and raising standard rates to price in risk. From there the statistics show a severe drop in raised interest rates on credit cards. The lenders understand the risk models and price it in accordingly at the start now. Gone are the teaser rates and arbitrary raising of interest rates that only serve to take advantage of those with less financial means and mobility.

It is not that I don't deny that people might have limitations or biases that militate against their best interests and that unscrupulous market participants may leverage these shortcomings for their own benefit. My problem with the government assuming such a paternalistic role is that it reduces individual liberty and has the real danger of creating unintended consequences. For what it's worth, I am not entirely opposed to libertarian paternalism model advanced by Cass Sunstein and think it might offer a somewhat workable middle ground.

How does reducing predatory and misleading lending crash individual liberty? We aren't free to sell or possess cocaine. That limits individual liberty too. If a lender has to be more honest and up front about the loans they are giving out, then how is that a reduction on liberty? Corporations deserve no liberty. As far as the danger of unintended consequences, you can always argue a slippery slope for anything. It holds little weight given that we are free to adjust and respond to changes that take place that we did not foresee.

I think this might be a valid criticism if I were suggesting that the other 47% ought to pay income taxes. The point I was trying to make, however, is more modest. Specifically, I was simply pointing out that 'the rest of us' referenced by Ms. Warren couldn't be that large a group given the aforementioned numbers. I wasn't arguing one way or the other as to whether the other 47% ought to pay income taxes.

See, that whole income tax issue is just muddy water. The truth is the 25% of citizens that don't pay federal income tax due to being solely reliant on retirement income aren't moochers. They have already paid income tax on those earnings, by whatever method (IRA, 401k, SS, etc) they have legally vested their money. That "rest of us" has contributed. If you are talking about the 15% in poverty, they have contributed too. While they may not have pitched in via federal income tax, they have certainly paid in via payroll taxes which have run a surplus over the last few decades which were borrowed against for general funding. They have paid medicare and medicaid taxes. They pay sales tax, property tax (even if indirectly through raised rent), state income tax, and most likely some pretty heavy use taxes. These are people who have very little income but are still putting money into the pot. Everyone pays taxes. They may not pay "federal income tax", and they may pay different rates, but they all pay taxes.

The concern I had with her speech is that her focus seemed solely on suggesting that the wealthy currently do not pay their 'fair share' in taxes and that they had an obligation to do so. I was raising the point about ancillary benefits accruing to ordinary people because I am of the opinion that the knock-on effects originating from economic activity are far greater than any benefit afforded by government programs or the like (especially when so much federal money is either not spent on the beneficial programs she mentions or is spent poorly (as in the case of education spending). I understand that the nature of her speech might have prevented her from providing a full explication of the subject but my reaction was informed both by the content of her speech along with some of her other speeches, testimonies and articles.

The wealthy have seen a decline in tax rates over the last few decades at a time when their share of income and wealth have risen dramatically. Tax burden has shifted downward to those whose wages have remained stagnant for quite some time. It is quite clear they are benefiting from the structure of society and the structure of the tax system at a time when nobody else is. That is not debatable. Now you can certainly argue that they deserve the benefits more than everyone else, as that is a matter of opinion. I would argue, as she does, that the society they are benefiting from is built on the backs of all those who are members of it. To have only a select few realize gains goes against the very concept of what a society is designed for.

Also, to be clear, it's not that I doubt Ms. Warren's sincerity or the conviction with which she pursues her ideals, viz. I don't think she is some crazy communist intent on bringing down the Republic. Rather I think she often underestimates -- or even ignores -- the costs associated with government intervention and she is also blind to the unintended consequences that result from government regulation. The harm the minimum wage does to minorities and the less-well educated springs to mind immediately. To quote Hayek, "s there a greater tragedy imaginable than that, in our endeavor consciously to shape our future in accordance with high ideals, we should in fact unwittingly produce the very opposite of what we have been striving for?".


Without veering too far into a minimum wage debate (that would be better served as its own thread I think), how have states with higher minimum wages than the federal mandate fared against national averages for unemployment? The common argument is that raising the minimum wage forces employers to hire less people. You will find that "fear" has not translated into real world results. It is worth noting that the minimum wage is still not enough to keep someone out of poverty with full time work.

You are going back to the slippery slope argument again. Whatever unintended consequences that have or will show up from raising the minimum wage are far offset from what happens when those who are in the most dire of situations can work full time for what amounts to just a little more than slave labor.

This would be the case where there is only one supplier of goods and the consumer must either forgo purchasing the product offered by the multinational or accede entirely to the multinational's terms. I would contend, however, that where there is competition between firms -- even large multinationals -- then there still exists the conditions necessary for a healthy market, viz. if multinational 1 does not present fair terms to the consumer they can turn to multinational 2; if both 1 and 2 collude to frustrate the consumer then all is not lost because, assuming no technical barriers to entry, upstart X can enter the fray and offer the same goods and services offered by 1 and 2 but at more reasonable terms. At one point in time Kodak was a huge multinational but they failed to continually meet the demands of their customers and now they are an also-ran.

There was a time where what you said was true. In recent years companies have been allowed to merge that would have previously been prohibited. We essentially have oligopolies in any market now, they all do their best to stay out of each others' turf. Since we have oligopolies it appears we have healthy competition when someone like Palm exits the smartphone market and gets absorbed by a competitor. But oligopolies are not healthy competitive markets, they are limited and need to be policed.

Cable companies are a perfect example of this. They took government money to build infrastructure in the 90s, did not meet the standards that were put in place for the money, and have leveraged out massive profits at the expense of consumers (whose tax dollars built the entire thing).

In 2007, TW made $3,730 Million, on high speed data alone, and then had to turn around and spend $164 Million to support the cost of the network. 2007 total profit on high speed data: $3.566 Billion

In 2008, TW made $4,159 Million, on high speed data alone, and then had to turn around and spend $146 Million to support the cost of the network. 2008 total profit on high speed data: $4.013 Billion

It cost TW 11% less money in 2008, to keep their network running, than in 2007.

How can any company justify a 96% profit margin if there was real competition? Prices for broadband should drop around 80% or so if it were a true competitive market.
 

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
More arrests and violence from people attempting to occupy property that is not theirs.

What part of "you can't set up camp here" do hippies not understand?

http://www.denverpost.com/breakingnews/ci_19112322

The Colorado State Patrol said 23 people were arrested as police in riot gear moved into the Occupy Denver camp in front of the Colorado Capitol early this morning to dismantle tents and remove debris.

The initial order to disperse came shortly before 3 a.m., but arrests weren't made until after 6 a.m.

Cpt. Jeff Goodwin of the Colorado State Patrol said troopers arrested 21 people for suspicion of unlawful conduct on public land. He said that number could increase later today.

Two others were arrested by Denver police, Goodwin said. One of whom was arrested for simple assault, the other was arrested for impeding traffic.
 

fskimospy

Elite Member
Mar 10, 2006
85,709
50,998
136
Oh make no mistake, I want their message to be heard and the democrats supporting them. It exposes the left's true mission.

Great! Recent polls show support for OWS to be running at more than 50%, so it appears that people are hearing their message and liking it very much! This comes in comparison to the Tea Party, whose popularity is running somewhere only slightly north of Dracula.

The people are speaking, spidey! They are finally waking up, and they're coming for you... just like in all your insane, paranoid fantasies.
 
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