True or False questions

[LOki]

THere are plenty of hard working Americans who would gladly take those jobs its an ignorant assumption that there aren't.

I am glad you are happy to address this assumption i did not make.

What we have is willing Americans who ask for a decent wage in comparison to illegal help who would gladly work for half of the minimum wage. Then the business owner hires the cheaper labor.

What this sounds like is that there are a bunch of Americans who think they should get paid according to being Americans, rather than what their job is actually worth.

If these predatory lenders held themselves to a higher standard they wouldn't convince these Americans that they were capable of paying off these rediculous loans in the first place.

Explain again how did they force these idiots to take those loans? Explian again how they forced these insurers to insure those loans?

Go on, explain it.

There is a sense of entitlement in america but not to the extent in your example.

Apparently there is since you yourself boldly proclaimed, "What we have is willing Americans who ask for a decent wage in comparison to illegal help who would gladly work for half of the minimum wage."

My suggestion is we start fixing America and stop worrying about the people trying to get in.

Sensible.

Like I said, "Let them go extinct." There's no shortage of those retards; we shouldn't be treating them like an endangered species.

 

[gonegolfin]

I didn't say they were the reason for it.

How about simply, "The housing market crashed only because people took out bad loans."

Another question could be ... " The housing market crashed only because of predatory lending."

Of course, both are patently false as both are effects from a root cause.

Brian

I'm trying to point out that for the past 8 years, the GOP has been blaming us for the economy. Each of the questions are things that the GOP have said about the American people. In essence, blaming us.

If that is your intent, then take this to the "Politics" board. There is far too much political garbage on what is supposed to be an economics board.

Brian

 

[sealybobo]

So you are going to take generalized opinions about conservatives. Apply them to me without any evidence and then form an opinion. Gotcha

No, I like some of the stuff you say. Hey, I got this from Ron Paul:

We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market's attempt to re-establish rational pricing of houses and other assets.

Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I'd only be repeating what I've been saying over and over - not just for the past several days, but for years and even decades.

Still, at least a few observations are necessary.

The president assures us that his administration "is working with Congress to address the root cause behind much of the instability in our markets." Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?

We are told that "low interest rates" led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments - investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed.

Not a word about any of that, of course, because Americans might then discover how the great wise men in Washington caused this great debacle. Better to keep scapegoating the mortgage industry or "wildcat capitalism" (as if we actually have a pure free market!).

Speaking about Fannie Mae and Freddie Mac, the president said: "Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk."

Doesn't that prove the foolishness of chartering Fannie and Freddie in the first place? Doesn't that suggest that maybe, just maybe, government may have contributed to this mess? And of course, by bailing out Fannie and Freddie, hasn't the federal government shown that the "many" who "believed they were guaranteed by the federal government" were in fact correct?

Then come the scare tactics. If we don't give dictatorial powers to the Treasury Secretary "the stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet." Left unsaid, naturally, is that with the bailout and all the money and credit that must be produced out of thin air to fund it, the value of your retirement account will drop anyway, because the value of the dollar will suffer a precipitous decline. As for home prices, they are obviously much too high, and supply and demand cannot equilibrate if government insists on propping them up.

It's the same destructive strategy that government tried during the Great Depression: prop up prices at all costs. The Depression went on for over a decade. On the other hand, when liquidation was allowed to occur in the equally devastating downturn of 1921, the economy recovered within less than a year.

The president also tells us that Senators McCain and Obama will join him at the White House today in order to figure out how to get the bipartisan bailout passed. The two senators would do their country much more good if they stayed on the campaign trail debating who the bigger celebrity is, or whatever it is that occupies their attention these days.

F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own:

Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion.

To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression.

The only thing we learn from history, I am afraid, is that we do not learn from history.

The very people who have spent the past several years assuring us that the economy is fundamentally sound, and who themselves foolishly cheered the extension of all these novel kinds of mortgages, are the ones who now claim to be the experts who will restore prosperity! Just how spectacularly wrong, how utterly without a clue, does someone have to be before his expert status is called into question?

Oh, and did you notice that the bailout is now being called a "rescue plan"? I guess "bailout" wasn't sitting too well with the American people.

The very people who with somber faces tell us of their deep concern for the spread of democracy around the world are the ones most insistent on forcing a bill through Congress that the American people overwhelmingly oppose. The very fact that some of you seem to think you're supposed to have a voice in all this actually seems to annoy them.

I continue to urge you to contact your representatives and give them a piece of your mind. I myself am doing everything I can to promote the correct point of view on the crisis. Be sure also to educate yourselves on these subjects - the Campaign for Liberty blog is an excellent place to start. Read the posts, ask questions in the comment section, and learn.

H.G. Wells once said that civilization was in a race between education and catastrophe. Let us learn the truth and spread it as far and wide as our circumstances allow. For the truth is the greatest weapon we have.

 

[sealybobo]

sealybobo: "gocha back bitch." A response i get from him. You should be careful from this guy. sealybobo seems like a total wack job. Someone over-prescribe him with hallucination pills.

Didn't you neg rep me and then not leave a comment so I could get you back? Well i found you bitch. LOL.

You should be careful of me. Don't tell me where you live and you'll be safe.

 

[sealybobo]

Thanks.

You mean ". . . all of us stupid, lazy retards with over-developed senses of entitlement." I couldn't possibly care less--the rest of us will be just fine.

This is only true as long as American workers insist upon getting more than their work is worth. Our companies have no particular desire to use Mexican labor instead of domestic labor.

Maybe they should move. Maybe they should accept that their job won't support the life style they'd like.

We can all want, but unless we all earn it, through producing equivalent value, we don't all deserve to get it.

The answers here are, "I don't care" and "I don't know why."

I don't know. Why don't you enlighten me?

If true, then let's hire him--he deserves the work, based on his merits.

Good. Let's hire them too.

Fuck 'em. Let them starve, or be better and cheaper than the Indians and Chinese.

Apparently not, if we are to accept that the Indians and Chinese are that much better.

That's the precise problem with stupid, lazy retards with over-developed senses of entitlement--they actually think that the rest of us need them to "run our economy." The fact of the matter is that the stupid, lazy retards with over-developed senses of entitlement need us---these assholes are a drag on our economy--we don't need them to run our economy; we need to let them go extinct.

I'm glad you can see that.

This is the dumbest non-sequitur in the world. Why should we all pay for a healthcare system that provides healthcare benefits to assholes that don't earn them?

I doubt it. I can provide sufficient value to my employer to ensure my job is not in jeopardy of being out-sourced.

I'm not blind; I just don't care that stupid, lazy retards with over-developed senses of entitlment suffer the predictable consequences of their stupidty, laziness, and over-developed senses of entitlement.

I don't agree but I respect your opinions. And if you were the president, I bet you would have let those banks collapse. In other words, you wouldn't be a hypocrit.

 

[LOki]

I don't agree but I respect your opinions.

Sweet. Out of respect for your opinion, I'd like to understand why you revere these over entitled, stupid, lazy retards so much that you think we need them, and should be protecting them.

And if you were the president, I bet you would have let those banks collapse. In other words, you wouldn't be a hypocrit.

You would be right. Such a collapse would mean an opportunity for other banking firms, hopefully firms with a bit more sense and respect for sensibilty, to take their places.

 

[sealybobo]

The gas prices went up because America is addicted to oil.

False.

The economy is not good because Americans are a bunch of whiners.

True.

The housing market crashed only because people took out bad loans, not because of predatory lending.

True.

Companies hire illegal’s and outsource to China/India because the American worker sucks. They don’t work :FIX: effectively and they'd rather vote for more money than earn more money.:/FIX:

True.

Still feel this way?

 

[LOki]

The gas prices went up because America is addicted to oil.

False.

The economy is not good because Americans are a bunch of whiners.

True.

The housing market crashed only because people took out bad loans, not because of predatory lending.

True.

Companies hire illegal’s and outsource to China/India because the American worker sucks. They don’t work :FIX: effectively and they'd rather vote for more money than earn more money.:/FIX:

True.

Still feel this way?

Yes.