Posted on 11/05/2010 8:53:14 PM PDT by blam
Good points; entirely possible.
I would like that. Pelham doubts me, but Goldman Sachs is thick as thieves with these corrupt yahoos.
I haven't the slightest doubt you're right about that. They are doing what's best for GS. If it happens to coincidentally turn out well for the country their claims of helping avert a financial collapse will be heard round the world. If not; oh well.
Still in all, and IMHO, GS and the rest of the banking community was following the feral government's lead in this sordid mess. The federales created the environment in which the subprime mortgage mess in particular developed in the first place. Creating exotic financial instruments is what GS does; in this case, created to market--garbage...
Caught In A Lie: Bernanke Promised Congress The Federal Reserve Would Not Monetize The Debt But Now That Is Exactly What Is Happening
Most of Keynes fallacies date back to earlier times, they were just rehashed into modern terms and given a ‘scholarly’ justification.
IMHO this will affect states in the North as well as states
on both coasts the most part,,,
We in the South will do just fine,,,
Many of us eat what we grow,,,
Louisiana produces about 80% of the home heating oil for
the north/ne,,,
Nat.Gas and motor fuel too(30%?),,,and,,,
Near 30% of the fish and seafood for the US,,,
Then there's “corn mountain” just north of me,,,
No where to put it all...
“It is time to turn cash into hard assets.”
The theory is good.
But the same government that destroys our currency can outlaw private ownership of precious metals or impose crushing tax rates on capital gains.
When I was a kid I used to listen to my parents and grandparents talk about the Great Depression.
Never, ever did I imagine I’d be staring down the same gun barrel in my old age.
to those who have savings or paper money lying around:
Where are you guys putting that money? Where is the safest place to put that money to ensure that it does not lose value when the dollar collapses? I am just joe average who wants to ensure that the paper money I have in my safe is not worthless. I want to be prepared and I want to ensure my family has what is needed to survive should the worst happen.
to those who have savings or paper money lying around:
Where are you guys putting that money? Where is the safest place to put that money to ensure that it does not lose value when the dollar collapses? I am just joe average who wants to ensure that the paper money I have in my safe is not worthless. I want to be prepared and I want to ensure my family has what is needed to survive should the worst happen.
I have a wealthy friend who is talking about putting some of his in Canadian currency.
The Humphrey-Hawkins Act amended the charter of the Fed to include the goal of “full employment” (a crypto-Stalinist economic term) along with its original goal of ensuring price stability.
Goldman Sachs re-chartered itself as a commercial bank in order to participate in TARP.
Right and Congress can pass a law saying water boils a 80 degrees C too. That does not make it so.
Just because Congress says full employment is a goal of the central bank does not mean they can do more than increase or decrease the amount of money in circulation. So just because Congress say full employment should be their goal does not mean they can do much or anything about it.
The AUSTRALIAN DOLLAR is holding up very well AND for the right reasons: Their economy is relatively strong. Wonder how they did it???
Which may not be the point at all. Congress gave them additional authority to do just about anything they want under another cover. Next up could just as easily be authority to help algore sell AGW. Or maybe help the UN achieve sustainable growth, whatever that is. Same difference, eh. All smoke and mirrors but it does open the door for bankers to "legally" commit institutional theft on a grand scale.
Canada and Australia utilize their natural resources. We have allowed the Greens to lock ours up or to tax them and those that produce them into oblivion.
You’re looking in the wrong direction. Goldman Sachs has had its alumni at Treasury. Robert Rubin. Henry Paulson. They’ve been pushing policies to benefit themselves but it’s been inside the Administrations and over at Congress.
Isn’t it odd that the US, with our often praised and widely admired Constitution and its attendant protections has been taken down by those that hate our Constitution, our country and all they stand for. Falling asleep at the switch hasn’t worked out well for us has it? Repairing the damage from this train wreck is going to be a painful experience I suspect.
Good point. Corporatism at its finest. Just out of curiousity, do you think Turbo Tax Tim and Bernanke too for that matter, are nothing more than a toadies for the bankers? Or do they actually know what they’re doing and are on the same page?
“Most of Keynes fallacies date back to earlier times, they were just rehashed into modern terms and given a ‘scholarly’ justification.”
Keynes wrote about macroeconomics. Liquidity traps. Countercyclical spending. The collapse of demand and deflationary spirals. He wasn’t much interested in banking other than with the paradox of thrift.
Trying to apply his name to each and every economic issue you run across isn’t an especially wise idea.
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