Austerity's Big Winners Prove To Be Wall Street And The Wealthy

[Sallow]

Tax cuts are making damn few jobs and jobs and wages are what is needed in a consumer spending driven economy to make it strong. If a consumer spending driven economy can ever be truly strong.

Lose your faith in the corporate mantra and realize truth.
The market is not the economy.

Which basically brings up the point..

Are conservatives really serious about capitalism? Because they don't seem to be.

I am a conservative, and here's my take. It isn't capitalism if no one is allowed to fail.

"Too Big Too Fail" is not capitalism.

It also isn't capitalism if known fraudsters don't go to prison. Like Fabrice Tourre, John Paulson, Angelo Mozilo, Daniel Sparks, Roland Arnall, and James Cayne.


Regardless, the OP's premise is entirely false.

And here's a Conservative hero..on the to big to fail meme..

[ame=http://www.youtube.com/watch?v=hZ-70rQD19M]CSPAN Sep 29 08 Boehner on TARP Bill - YouTube[/ame]

 

[Full-Auto]

Which basically brings up the point..

Are conservatives really serious about capitalism? Because they don't seem to be.

I am a conservative, and here's my take. It isn't capitalism if no one is allowed to fail.

"Too Big Too Fail" is not capitalism.

It also isn't capitalism if known fraudsters don't go to prison. Like Fabrice Tourre, John Paulson, Angelo Mozilo, Daniel Sparks, Roland Arnall, and James Cayne.


Regardless, the OP's premise is entirely false.

And here's a Conservative hero..on your to big to fail meme..

[ame=http://www.youtube.com/watch?v=hZ-70rQD19M]CSPAN Sep 29 08 Boehner on TARP Bill - YouTube[/ame]

Who says....You...

 

[The T]

I call a spade a spade, the poor and middle class will not benefit from austerity.

When does said austerity begin?



We have a budget deficit that is killing your premise.

None of these idiots have a clue what auserity means...WE have already seen it in the EU...Greece, Spain, Portugal...

What the OP foists is more talking points of the like to get the movement of anarchy going here [OWS]...

The OP's Author doesn't know either and looks to blame rather than what really needs to be done, and seeks to delay the enivitable.

EU is on it's last legs...when it falls...WE are next. All theories go out the window, and Governments will be scrambling to protect themselve FROM the people for the damage these governments have caused...including our own.

[And be on the lookout for QE 3].

 

[The T]

Everyone benefits from a strong economy caused by spending and tax cuts.

And government deregulation by letting people exercise thier liberty.

 

[Mr. Peepers]

EU is on it's last legs...when it falls...WE are next. All theories go out the window, and Governments will be scrambling to protect themselve FROM the people for the damage these governments have caused...including our own.

The private sector caused FAR more damage than anything any government was doing. But they're raking it in while this is all going down, aren't they? Privatize profits, make losses public, right? Most Wall St. CEO's and traders should also be in prison.

 

[occupied]

Governments will always protect the wealthy elite long before they will protect its run of the mill citizens, it does not matter what form the government takes, lately they have taken this mainly local policy global. No government on earth has decided to take on the real power of the international wealth class who do not care for borders or feel very much allegiance for any country and certainly no concern for any of the rabble who still seem pretty willing to absorb their loses. We have lost to them, apparently things cannot get bad enough to make the serfs storm the castle.

 

[kaz]

Lose your faith in the corporate mantra and realize truth.
The market is not the economy.

 

[kaz]

Governments will always protect the wealthy elite long before they will protect its run of the mill citizens

Yep, like blocking a pipeline from Canada which would reduce gas prices so Warren Buffet can charge to haul the oil making a mint in the process. What does he care for the common man? Free markets are the answer. Then rich or poor, you get to compete rather then paying off a useless hack politician like Obama to use government force to do it for you.

 

[Toddsterpatriot]

EU is on it's last legs...when it falls...WE are next. All theories go out the window, and Governments will be scrambling to protect themselve FROM the people for the damage these governments have caused...including our own.

The private sector caused FAR more damage than anything any government was doing. But they're raking it in while this is all going down, aren't they? Privatize profits, make losses public, right? Most Wall St. CEO's and traders should also be in prison.

Privatize profits, make losses public, right?

Yeah, Fannie and Freddie were a disaster. Pretty much run by the Democrats.
Cost the taxpayer hundreds of billions.
I haven't seen a single frog march. Why isn't Franklin Raines serving a 100 year term?

 

[g5000]

Everyone benefits from a strong economy caused by spending and tax cuts.

And government deregulation by letting people exercise thier liberty.

Wall Street was deregulated. Thoroughly. The repeal of Glass-Stiegal and the complete deregulation of derivatives with the CFMA and the FSMA. That's why we are where we are today.

Section 117 of the CFMA:

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

Why does a bank need exemptions from state gaming laws? Why does a bank need to be exempted from laws prohibiting bucket shops?

Things that make you go hmmmmm...

 

[Oddball]

Concerning the countries of Europe, they are only doing austerity because they have no other choice left. As Margareth Thatcher pointed out, socialism finishes when you run out of other people's money.

Thatcher was a POS who didn't care for the poor.

You go take care of the poor, lazy ass.

 

[Mr. Peepers]

Yeah, Fannie and Freddie were a disaster.

Fannie and Freddie (nor the CRA - another rightie lie) did not cause the housing collapse in 2006. The private sector did. 86% of the sub-prime loans responsible for the crash were written in the private sector and were not in any way insured by F&F. Keep spinning your fantasy, though.

Ezra Klein - No, Fannie and Freddie did not cause the housing crisis

http://krugman.blogs.nytimes.com/2010/06/03/things-everyone-in-chicago-knows/

 

[Toddsterpatriot]

Everyone benefits from a strong economy caused by spending and tax cuts.

And government deregulation by letting people exercise thier liberty.

Wall Street was deregulated. Thoroughly. The repeal of Glass-Stiegal and the complete deregulation of derivatives with the CFMA and the FSMA. That's why we are where we are today.

Section 117 of the CFMA:

This Act shall supersede and preempt the application of any State or local law that prohibits or regulates gaming or the operation of bucket shops

Why does a bank need exemptions from state gaming laws? Why does a bank need to be exempted from laws prohibiting bucket shops?

Things that make you go hmmmmm...

Wall Street was deregulated. Thoroughly. The repeal of Glass-Stiegal and the complete deregulation of derivatives with the CFMA and the FSMA. That's why we are where we are today.

We are where we are because of mortgages, not derivatives.

 

[Toddsterpatriot]

Yeah, Fannie and Freddie were a disaster.

Fannie and Freddie (nor the CRA - another rightie lie) did not cause the housing collapse in 2006. The private sector did. 86% of the sub-prime loans responsible for the crash were written in the private sector and were not in any way insured by F&F. Keep spinning your fantasy, though.

Ezra Klein - No, Fannie and Freddie did not cause the housing crisis

Fannie and Freddie (nor the CRA - another rightie lie) did not cause the housing collapse in 2006.

They did not cause the disaster, but they sure privatized the profit and socialized the losses.

 

[Oddball]

Yeah, Fannie and Freddie were a disaster.

Fannie and Freddie (nor the CRA - another rightie lie) did not cause the housing collapse in 2006. The private sector did. 86% of the sub-prime loans responsible for the crash were written in the private sector and were not in any way insured by F&F. Keep spinning your fantasy, though.

Ezra Klein - No, Fannie and Freddie did not cause the housing crisis

Things Everyone In Chicago Knows - NYTimes.com

And we all know what paragons of straight talk that Klein and ferret face are!

 

[The T]

Concerning the countries of Europe, they are only doing austerity because they have no other choice left. As Margareth Thatcher pointed out, socialism finishes when you run out of other people's money.

Thatcher was a POS who didn't care for the poor.

You go take care of the poor, lazy ass.

Maybe the 'Army Warrior' can apply for leave to do so?

I call bullshit on his even BEING in the military.

I think it's a load of bullshit.

 

[California Girl]

Austerity's Big Winners Prove To Be Wall Street And The Wealthy

The poor and middle classes have shouldered by far the heaviest burdens of the global political obsession with austerity policies over the past three years. In the United States, budget cuts have forced states to reduce education, public transportation, affordable housing and other social services. In Europe, welfare cuts have driven some severely disabled individuals to fear for their lives.

But the austerity game also has winners. Cutting or eliminating government programs that benefit the less advantaged has long been an ideological goal of conservatives. Doing so also generates a tidy windfall for the corporate class, as government services are privatized and savings from austerity pay for tax cuts for the wealthiest citizens.

But not for the middle and lower classes.

Pssst, don't tell anyone but the US didn't implement austerity measures.

Idiot.

 

[The T]

Austerity's Big Winners Prove To Be Wall Street And The Wealthy

The poor and middle classes have shouldered by far the heaviest burdens of the global political obsession with austerity policies over the past three years. In the United States, budget cuts have forced states to reduce education, public transportation, affordable housing and other social services. In Europe, welfare cuts have driven some severely disabled individuals to fear for their lives.

But the austerity game also has winners. Cutting or eliminating government programs that benefit the less advantaged has long been an ideological goal of conservatives. Doing so also generates a tidy windfall for the corporate class, as government services are privatized and savings from austerity pay for tax cuts for the wealthiest citizens.

But not for the middle and lower classes.

Pssst, don't tell anyone but the US didn't implement austerity measures.

Idiot.

NOT YET at least... when the EU Falls? Guess what? Fail-O will be shitting black feathers.

 

[California Girl]

Concerning the countries of Europe, they are only doing austerity because they have no other choice left. As Margareth Thatcher pointed out, socialism finishes when you run out of other people's money.

Thatcher was a POS who didn't care for the poor.

Then, why precisely has she set up a charitable trust? She's done and contributed a lot for children with cancer.

Hack.

 

[g5000]

We are where we are because of mortgages, not derivatives.