Subprime time?!?

[Jiddy78]

http://www.ibdeditorials.com/IBDArticles.aspx?id=274057184586515


Economy: We've been quite bullish on U.S. economic prospects, and still are. But we're not Pollyannas. All it takes is one mistake and the economy can tank. Hopefully, the Fed agrees. If not, we're all in trouble.

I'm confused...One mistake and the economy can tank? Hopefully the Fed agrees?

First off, I thought these guys that Vegas touts would be more like him...The free market does its thing...This implies control of some sort by the Fed? Furthermore, how the f*ck are you bullish if you think "one mistake" = "we're all in trouble"

???


What a f*cking smokescreen the entire world is with this ongoing fraud and greed uncovering...

I can't believe you pay these f*ckers man.

[Jiddy78]

Those who say a rate cut won't help are wrong. Such a move would be a strong signal that the Fed intends to keep the economy from going under. It almost goes without saying that the fed funds rate should be cut 50 basis points to 4.75% now, but certainly no later than the Fed's meeting on Sept. 18.


I love it when my opposing viewpoint uses absolutes...That's when ya know ya got to 'em. :cool:

[KinjaKahn]

Ron Paul for President!! 2008! Down with the Federal Reserve and the IRS!

[Jiddy78]

Ron Paul for President!! 2008! Down with the Federal Reserve and the IRS!

Why the IRS? I can at least buy the Federal Reserve argument (though I don't agree)...Of course, there would be potentially destructive pitfalls there...but the IRS??? Even if a flat tax was imposed, an agency would have to enforce the law.

[Vegas]

Ron Paul for President!! 2008! Down with the Federal Reserve and the IRS!

Do you really think Congress would do a better job of controlling the money supply than the fed?

[Jiddy78]

Do you really think Congress would do a better job of controlling the money supply than the fed?

Do you really think that there isn't coercion already?

[Vegas]

Do you really think that there isn't coercion already?

I don't. The board of governors have longer terms than any of the politicians.

[Jiddy78]

I don't. The board of governors have longer terms than any of the politicians.

I would tend to disagree that there isn't some pressure there...Now, is it from institutional investors rather than the government? Well, that depends on how you look at it: Who are the biggest of them all:

Fannie and Freddie Bankrupt.

[KinjaKahn]

Why the IRS? I can at least buy the Federal Reserve argument (though I don't agree)...Of course, there would be potentially destructive pitfalls there...but the IRS??? Even if a flat tax was imposed, an agency would have to enforce the law.

Everything you need to know.
http://www.youtube.com/watch?v=yCM_wQy4YVg

[Vegas]

Everything you need to know.
http://www.youtube.com/watch?v=yCM_wQy4YVg

I'm unable to watch that at work, but pardon me for being skeptical if I don't think I'll learn everything I need to know from a youtube video.

[Jiddy78]

I'm unable to watch that at work, but pardon me for being skeptical if I don't think I'll learn everything I need to know from a youtube video.

65 minutes of pure torture...I'm a fan of some of his message...but not nearly all of it...He recognizes the impurities of our "free market" but I don't think he and I would see eye to eye on many other things, especially how to fix this broken smoke and mirrors economy...

Hey, but I might vote for the first time this January...Looks like the property tax bailout is in full force....If it goes through, in effect, I'll have to make a gamble I'm not inclined to make...So I'm considering voting against it and sending those homos back to the "bailout" drawboard.

[KinjaKahn]

I'm unable to watch that at work, but pardon me for being skeptical if I don't think I'll learn everything I need to know from a youtube video.
Your choice is Status Quo or Change.

The video above is a Google interview... They have done a number of candidates and they take it seriously in a casual setting.

[KinjaKahn]

65 minutes of pure torture...I'm a fan of some of his message...but not nearly all of it...He recognizes the impurities of our "free market" but I don't think he and I would see eye to eye on many other things, especially how to fix this broken smoke and mirrors economy...

Hey, but I might vote for the first time this January...Looks like the property tax bailout is in full force....If it goes through, they'll, in effect, I'll have to make a gamble I'm not inclined to make...So I'm considering voting against it and sending those homos back to the "bailout" drawboard.

There is plenty, that I do not agree with in regards to his ideas, but there are fundamental problems in the US and Status Quo is not the answer.

[Jiddy78]

There is plenty, that I do not agree with in regards to his ideas, but there are fundamental problems in the US and Status Quo is not the answer.

Agreed...and Ron Paul's presence alone is a good sign that hopefully change will be made eventually. I will definitely give him that and I'm glad he's fighting his fight for what he thinks will improve things rather than these other running douchebags that will be leeching like whores...None of them would dare take his position on our economic stance...

[Vegas]

There is plenty, that I do not agree with in regards to his ideas, but there are fundamental problems in the US and Status Quo is not the answer.

I won't disagree that we need fundamental changes when it comes to economics, but there's a lot of potential to make things worse. When it comes to controlling money, it's one of those deals where we have the worst system in the world except for all of the rest.

[Jiddy78]

I won't disagree that we need fundamental changes when it comes to economics, but there's a lot of potential to make things worse. When it comes to controlling money, it's one of those deals where we have the worst system in the world except for all of the rest.

I still back a theory that we can b*tchslap domestic risk deniers and have the world play along with us and keep the rest flying...Why? Big guns baby. But it can't be a little tippity tap hand slap with a ruler...It must be the invisible iron guantlet to the face.

[KinjaKahn]

I still back a theory that we can b*tchslap domestic risk deniers and have the world play along with us and keep the rest flying...Why? Big guns baby. But it can't be a little tippity tap hand slap with a ruler...It must be the invisible iron guantlet to the face.
So what do you do if/when Asia blows up and dumps dollars? We borrow 3 billion a day from Japan and China. Whats the plan when Taiwan is annexed back to Chinese Rule? Defend Taiwan, or just sell our promise of defense to China in exchange for debt relief?

[Vegas]

So what do you do if/when Asia blows up and dumps dollars? We borrow 3 billion a day from Japan and China. Whats the plan when Taiwan is annexed back to Chinese Rule? Defend Taiwan, or just sell our promise of defense to China in exchange for debt relief?

I don't understand the trepidation about China dumping dollars. How are they going to do that?

[Jiddy78]

I don't understand the trepidation about China dumping dollars. How are they going to do that?


Exactly...There's no market for those puppies...It's pure, unadulterated "thanks for the freebie, see ya later"...We could get into moral hazard about abusing the commies and their ways, but I'm not so inclined...The real danger is they may stop taking additional dollar reserves further and play our inflation game...Unless we bust out the invisible gauntlet, we're doomed if something like that happened...Of course, still we have the big guns to fall back upon...

Personally, I'd prefer not to use them...thus why we must demand fiscal responsibility from not only our government...but ourselves.

Turn the other cheek you f*cking homos out there...and I'm down with you buying something on margin...Just you better f*cking pay it back.

It isn't a laughing matter to me anymore, honestly...I more use the humor as a therapeutic device, I swear.

[KinjaKahn]

How are they going to do that?
Is this questioning the wisdom of it or do you really not get how to convert US dollars to Euros or any other currency?

[KinjaKahn]

Exactly...There's no market for those puppies...It's pure, unadulterated "thanks for the freebie, see ya later"...We could get into moral hazard about abusing the commies and their ways, but I'm not so inclined...The real danger is they may stop taking additional dollar reserves further and play our inflation game...Unless we bust out the invisible gauntlet, we're doomed if something like that happened...Of course, still we have the big guns to fall back upon...

Personally, I'd prefer not to use them...thus why we must demand fiscal responsibility from not only our government...but ourselves.

Turn the other cheek you f*cking homos out there...and I'm down with you buying something on margin...Just you better f*cking pay it back.

It isn't a laughing matter to me anymore, honestly...I more use the humor as a therapeutic device, I swear.

Oh theres a market... it's just dollars will be valueless after that. This is not a power I feel comfortable with a communist nation having over what was my country.

[Jiddy78]

Is this questioning the wisdom of it or do you really not get how to convert US dollars to Euros or any other currency?

I think he means, literally, if they don't want them, who does? Somebody would have to take them, presumably.

[Jiddy78]

Oh theres a market... it's just dollars will be valueless after that. This is not a power I feel comfortable with a communist nation having over what was my country.

Dude...The dollar isn't the Euro...but it is hardly the peso...and furthermore, I wouldn't place too much faith in the Euro...From my personal observations of how the Europeans acted and spent, I'm not very convinced they're not spiraling down the greed cesspit the same way we are....The only thing they've got going for them is that they aren't lardasses to boot...

[Vegas]

Is this questioning the wisdom of it or do you really not get how to convert US dollars to Euros or any other currency?

There needs to be a buyer and a seller for a transaction to occur.

[Vegas]

I think he means, literally, if they don't want them, who does? Somebody would have to take them, presumably.

Exactly.

[KinjaKahn]

Dude...The dollar isn't the Euro...but it is hardly the peso...and furthermore, I wouldn't place too much faith in the Euro...From my personal observations of how the Europeans acted and spent, I'm not very convinced they're not spiraling down the greed cesspit the same way we are....The only thing they've got going for them is that they aren't lardasses to boot...
Regardless of which currency they buy, the dollar tumbles. Pinning hopes of a future to the wills of enemies is pure stupidity. The drain on the US is whats building China up. At some point China will be strong enough to afford to lose the dwindling American economy. Whether its 5 10 of 50 years... the stupidity of our current system is evident and enduring.

[Vegas]

Regardless of which currency they buy, the dollar tumbles. Pinning hopes of a future to the wills of enemies is pure stupidity. The drain on the US is whats building China up. At some point China will be strong enough to afford to lose the dwindling American economy. Whether its 5 10 of 50 years... the stupidity of our current system is evident and enduring.

You think China has a better system than we do?

[Jiddy78]

Regardless of which currency they buy, the dollar tumbles. Pinning hopes of a future to the wills of enemies is pure stupidity. The drain on the US is whats building China up. At some point China will be strong enough to afford to lose the dwindling American economy. Whether its 5 10 of 50 years... the stupidity of our current system is evident and enduring.

Is China our enemy?

(senses a youtube response)

[KinjaKahn]

You think China has a better system than we do?
China is communist controlled, and cheating to boot. They are not Iraq, or Grenada... China's big guns kill millions at a time too.

[Vegas]

China is communist controlled, and cheating to boot. They are not Iraq, or Grenada... China's big guns kill millions at a time too.

But do they have an economic system superior to ours?

[KinjaKahn]

Is China our enemy?

(senses a youtube response)
I would say so. What do you think they are building up for? To be second best? Who's backing North Korea's nuclear ambition, with fuel and food? Who's launching anti-satellite missiles into space? Who's attacking pentagon computer systems? Who's devaluing their currency for huge profits in a trade imbalance?

[KinjaKahn]

But do they have an economic system superior to ours?
Depends on perspective. If you enjoy virtual slave labor and max profits for elitists one would say yes. If you recognize communism as garbage that we have spent ourselves into debt and spilled thousands of barrels of blood fighting, how can you justify our slow surrender to communism.

[Vegas]

Depends on perspective. If you enjoy virtual slave labor and max profits for elitists one would say yes. If you recognize communism as garbage that we have spent ourselves into debt and spilled thousands of barrels of blood fighting, how can you justify our slow surrender to communism.

I don't believe we are slowly surrendering to communism. We are competing in the free market with the virtual slave labor in China and we are winning.

[KinjaKahn]

We are competing in the free market with the virtual slave labor in China and we are winning.
Nonsense. There is no free market when one side is devaluing their currency, has no freedom, and ignores laws, rules, and regulations.

[Vegas]

Nonsense. There is no free market when one side is devaluing their currency, has no freedom, and ignores laws, rules, and regulations.

You need to read Milton Friedman's book, my friend.

[Jiddy78]

You need to read Milton Friedman's book, my friend.

That was youtubesque.

[Jiddy78]

You need to read Milton Friedman's book, my friend.

Think it's at the library? I'm going sometime this week to return other stuff...

[KinjaKahn]

You need to read Milton Friedman's book, my friend.

This guy?
The Federal Reserve definitely caused the Great Depression by contracting the amount of money in circulation by one-third from 1929 to 1933 - Milton Friedman

Sounds like a wack job conspiracy theorist to me.

[Vegas]

Think it's at the library? I'm going sometime this week to return other stuff...

I'm sure it's at the library unless it's some kind of a really weak library. That book was a huge seller when it came out.

[Vegas]

This guy?


Sounds like a wack job conspiracy theorist to me.

That's the guy. And that's hardly a conspiracy thing. It follows the absolute truth of economics mv = pq.

[Jiddy78]

That's the guy. And that's hardly a conspiracy thing. It follows the absolute truth of economics mv = pq.

Money supply is irrelevant in this economy...Debt supply is king.

dv = pq



You know what really screws it up? When mv = pq is trying to play catchup with dv = pq and is light years behind and losing ground.

[Vegas]

Money supply is irrelevant in this economy...Debt supply is king.

dv = pq



You know what really screws it up? When mv = pq is trying to play catchup with dv = pq and is light years behind and losing ground.

I'm impressed.

[KinjaKahn]

When mv = pq is trying to play catchup with dv = pq and is light years behind and losing ground.
What do you mean its behind and trying to catch up? :rolleyes:

[Jiddy78]

I'm impressed.

I do what I can.

[Jiddy78]

What do you mean its behind and trying to catch up? :rolleyes:

You're just jealous you didn't come up with it first...Go now...and impress your friends.

[Vegas]

You're just jealous you didn't come up with it first...Go now...and impress your friends.

Even better......submit it to the Nobel folks.

[Jiddy78]

Even better......submit it to the Nobel folks.

The first nobel speech ever to get *crickets*

[KinjaKahn]

Oh I get it now.. there's no problem... we can just keep borrowing and borrowing and never worry about nothing cause we can just tell them to fuck off and theres nothing they can do.

[Jiddy78]

Oh I get it now.. there's no problem... we can just keep borrowing and borrowing and never worry about nothing cause we can just tell them to fuck off and theres nothing they can do.

Well...Until they blow us up.

But is it they that are the "enemy" or we that created the perception due to our actions and potential results?

[pnkpanther]

I'm unable to watch that at work, but pardon me for being skeptical if I don't think I'll learn everything I need to know from a youtube video.


a google/youtube video is all the proof some need the 16th ammendment was never ratified and we dont legally need to pay taxes


ron paul supports those idiots

[pnkpanther]

But do they have an economic system superior to ours?

it's growing faster then ours

but as of now...no

[Jiddy78]

a google/youtube video is all the proof some need the 16th ammendment was never ratified and we dont legally need to pay taxes


ron paul supports those idiots

Use tax doesn't exist. Somebody get me youtube on the line.

[swordfish]

This guy?


Sounds like a wack job conspiracy theorist to me.

So let's put this into perspective. Some time around the 1930s The Federal Reserve cut the supply of money supposedly causing the depression. Now one argument we have from time to time around here is that The Fed would never do anything to ruin the economy. But here we have clear evidence that they did just that. Now why is everyone in shock and disbelief that a privately owned bank that controls the U.S. money supply would do something negative to the economy in which they make profit?

Do you fool yourself into thinking they will somehow also suffer? Do you think the politicians who lie to you on a daily basis will be homeless? How was FDR living back in the days. I doubt he was eating any ramen noodles.

You can attack Kinja all you want about Ron Paul. The fact is that Ron Paul is the only person with enough balls to stand up to these people. He knows he cannot win. He hopes to spread the message and get more people involved and thinking about the blatant waste of tax payer dollars. I just read that Hillary Clinton's plan for health care is that you cannot get a job without health insurance. Nice plan, make requirements to make money. I guess the next thing in order will be DNA tests for all McDonald's workers.

I refuse to live in 1984. The problem is every day I see things around me changing into reality. TVs on walls, cameras everywhere, police on every corner(except the ones where crack is sold) are all things we idly sit by and watch control our lives.

Now we cannot even ask a politician a serious question. Do not dare ask John Kerry if he is in any secret club, or else you get arrested and then tazered. If Mr. Kerry does not want to field the question he can brush it off. Somehow the cops already knew what to do. Is this similar to when the kid was arrested for asking Guiliani's team about 9-11? This guy even had a press pass. All he asked was if it was true that Rudy had knowledge before the attacks. Instead of answering the question they have the guy arrested. Is this America? I laugh at anyone who thinks they are free. You guys are scared and admittedly I am too. I try to live without fear. Fear is the mind killer(Dune). If you won't wake up and notice the fear that is constantly used to change your life and to make you submit then don't complain about the consequences. That includes the economy.