georgephillip
Diamond Member
Class War?
*Edges carefully out onto the limb*
You don't know what the hell the topic is about really, do you?
*Edges slowly back to the trunk*
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Class War?
*Edges carefully out onto the limb*
You don't know what the hell the topic is about really, do you?
*Edges slowly back to the trunk*
Is Chomsky being fair when he says...
Nope.
But life ain't fair.
How many of those former million dollar assets were resurrected when the Fed soaked up $1.3 trillion worth of problematic securities for their good buds down on Wall Street?Nope. Those 'million dollar assets' are now worth pennies on the dollar. Now if someone wishes to pay a million bucks for an asset that is worth only a plug nickel, they're overpaying and caveat emptor. There's often a very good reason why an asset loses value. Illusion and false perception can only inflate price for a limited period of time.Is it accurate to say some of those million dollar assets have been resurrected by taxpayer bailouts?
Stocks are generally overpriced, I think.
The PE ratios are too damned high.
Not that I invest in the market, but I am still looking for a correction.
Something will freak out the market and then the slaughter will begin.
THEN, perhaps, it'd be a good time to get into the market.
Look for a PE of about 13.
How many of those former million dollar assets were resurrected when the Fed soaked up $1.3 trillion worth of problematic securities for their good buds down on Wall Street?Nope. Those 'million dollar assets' are now worth pennies on the dollar. Now if someone wishes to pay a million bucks for an asset that is worth only a plug nickel, they're overpaying and caveat emptor. There's often a very good reason why an asset loses value. Illusion and false perception can only inflate price for a limited period of time.Is it accurate to say some of those million dollar assets have been resurrected by taxpayer bailouts?
Is the next step in this free market illusion to dump these "assets" on Fannie and Freddie?
Ron Paul to Helicopter Ben:
"Well, where did you get the money? You created this money. So you did monetize debt, and that went into the banking system."
More than ever should have been allowed. We've now had OUR wealth destroyed thanks to bad investments by the US government through Freddie and Fannie to deadbeats who should never have been given mortgages because they could do nothing BUT default.How many of those former million dollar assets were resurrected when the Fed soaked up $1.3 trillion worth of problematic securities for their good buds down on Wall Street?Nope. Those 'million dollar assets' are now worth pennies on the dollar. Now if someone wishes to pay a million bucks for an asset that is worth only a plug nickel, they're overpaying and caveat emptor. There's often a very good reason why an asset loses value. Illusion and false perception can only inflate price for a limited period of time.Is it accurate to say some of those million dollar assets have been resurrected by taxpayer bailouts?
Is the next step in this free market illusion to dump these "assets" on Fannie and Freddie?
Ron Paul to Helicopter Ben:
"Well, where did you get the money? You created this money. So you did monetize debt, and that went into the banking system."
I'm not an economist but I have taken courses and listened intently to them on more than a few occasions.Monetize the Debt. I keep on hearing the same mantra.
As I have posted hundreds of times, I have never studied economics. I avoid the formal study of same because the economists all seem to be retarded to me. I can not get any two of them to agree on what is happening to the economy. Economics is mostly theory and most of the theory does not make sense to this country boy who grew up in Mexico along with the campesinos and the horses and donkeys. Economists remind me of the donkeys and appear to be quite stupid and foolish when I hear the speak.
So, I will pose a question to you. Think about it long and hard and then tell me about this Monetize the Debt thing.
In 2006 -7 we had a tremendous amount of wealth in the value of our houses. Mine was worth close to a million dollars. Now, my house is at best worth half that.
That happened across the land. Would it be correct economic theory to say that we Demonitized that value of real estate nationally. IF so, how many trillions were Demonetized? If we now Monetize a fraction of that, are we still in the hole?
Quite frankly, I am prone to think so, but no economist that I have heard lately even approaches this issue. I guess the thought process is beyond them. If you do not bring up the topic of lost Trillions then you do not have to deal with it with economic theory. I believe we need to factor that in to the economy.
It looks to me that this depression is tied in with all of that lost money. I think we need to "monetize" more if we are going to return to status quo.
In 2006 -7 we had a tremendous amount of wealth in the value of our houses. Mine was worth close to a million dollars. Now, my house is at best worth half that.
,....Bubble......
We are well and truly fooked if we don't start doing the obvious and cut government spending and encourage people to invest here as a safe haven for all their wealth.
Interesting comments. I knew about the Bubble in valuation. I even warned about it years ago and advised all of my adult children not to buy houses but to save up for when they came down to a rational price. One son bought a house anyway, and has seen a net loss of a hundred thousand dollars. He is not done losing money.
Are we net short monetized wealth or are we positive.
The comments about implied that there were a whole lot of paper money dollars floating around. I have not seen them. Paper money in circulation is not the issue that I see.
Our economy is still collapsing in spite of the fact that there are idiots on this form who think we are in a massive recovery.
How does cutting the Federal government by 40%-50% affect unemployment numbers?
If you're talking about across the board cuts, who gets to go to Camp Pendleton and tell every other Marine to find a job?
tate cuts of 40% would seemingly have to include some in police and fire protection? Why not cut Wall Street out of the bond markets by encouraging the states to follow North Dakota's example?
I
In Florida, a PhD Economist is running in the Democratic gubernatorial primary.
He's claiming that if the state of Florida started doing business as the State Bank of Florida, Floridians would save $billions/year on interest charges.
2% mortgages. 6% credit cards & CDs.
The state bank would earn additional $billions/year helping citizens save money that stays in Florida, creating jobs.
The candidate, Farid Khavari, is claiming over time the money a state bank would save Florida would first reduce and then eliminate the need for state and local taxes.
Because the American Taxpayer will march to their offices with torches, pitchforks, tar feathers and a portable guillotine.Neu:
When you say the Fed is trying to save this country by buying up toxic assets, why aren't they willing to tell us what they are buying and how much of our money are they paying?
I'm for anything that gets us balanced again. But I don't trust the feds. It very much be a great idea for the states to start doing just that.Big:
Regarding North Dakota, in 1919 some very conservative citizens of that state got fed up with Wall Street and the Railroads. They formed a political party called (I believe) the Non-Partisan League.
The Bank of North Dakota was part of their solution.
The state of North Dakota began doing business as the Bank of North Dakota.
"Technically that makes the (financial) capital of the state the capital of the bank."
Over the last century some of the rough populist edges have been filed away, but even today North Dakota is one of two states with a budget surplus and the only state adding jobs.
Ellen Brown's Web of Debt has some very good info on how to cut Wall Street Out of our recovery.
That sounds like the "tag line" for a great action movie or a reality that will leave millions of living Americans envious of the dead.Because the American Taxpayer will march to their offices with torches, pitchforks, tar feathers and a portable guillotine.Neu:
When you say the Fed is trying to save this country by buying up toxic assets, why aren't they willing to tell us what they are buying and how much of our money are they paying?
Currently eight states have candidates pushing for state-owned banks.I'm for anything that gets us balanced again. But I don't trust the feds. It very much be a great idea for the states to start doing just that.Big:
Regarding North Dakota, in 1919 some very conservative citizens of that state got fed up with Wall Street and the Railroads. They formed a political party called (I believe) the Non-Partisan League.
The Bank of North Dakota was part of their solution.
The state of North Dakota began doing business as the Bank of North Dakota.
"Technically that makes the (financial) capital of the state the capital of the bank."
Over the last century some of the rough populist edges have been filed away, but even today North Dakota is one of two states with a budget surplus and the only state adding jobs.
Ellen Brown's Web of Debt has some very good info on how to cut Wall Street Out of our recovery.