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The Federal Reserve

Discussion in 'Political Discussion' started by maverick4, Mar 16, 2008.

  1. maverick4

    maverick4 Banned

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    The Federal Reserve just entered the real estate banking business and no one in mainstream media thinks this is insane?

    This is on top of continually printing monopoly money to save banks that screwed up, which Jim Rogers has blasted as 'socialism for the rich'.

    Is Bernake purposely trying to destroy this economy? You can't keep putting bandaids on this stuff, it just gets much worse later on. If he had just let those banks die instead of bail them out, we might have faced only a serious recession, but after this all bets are off, get ready for something similar to, if not worse than, the great depression within the next few years.
     
  2. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I agree with your initial thoughts but your predction of something worse than the great depression is a little off the wall. I watch a good variety of economic shows and an average recession is the worst I've heard any of the economists talk about. Certainly nothing even in the ballpark of what you're talking about.

    But, sure, I'd have let the market take it's natural course.
     
  3. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    it's all just going to trickle down. all these fixes will prolong the true agony. we are going to have to pay the piper bigtime one day when oil is double or triple what it is now.

    how about 401K's not earning good returns because of the lousy market?

    couple this with the impending social security problem decades from now, plus people not saving or even borrowing from their 401's with the intent of putting it back in and never do.

    in reality, we are going to have one huge mess 3 or 4 decades from now, even sooner. until things can get stabalized with real capital and not invented stuff in terms of credit the future will be gloomy.

    the first step would be getting rid of the FED and they keep doing things to make a great case for that.

    unfortunately we have a nation based on credit. 30 years ago credit wasn't as easily available. and with computers it ballooned exponentially. we're just paying for our economic sins of yesterday.
     
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I don't disagree with any of that but it's a gigantic step to start predicting something worse than the depression. Get a grip. That's like before the SB predicting the Patriots would not only win but would go 57-0 over the next three seasons.
     
  5. maverick4

    maverick4 Banned

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    bad example. it's like looking at isiah thomas orchestrate a series of disastrous moves for the ny knicks a few years ago, and know, *at that time*, that the knockerbockers were screwed for the foreseeable future.
     
    Last edited: Mar 16, 2008
  6. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Fine but the Franchise wasn't going to disintegrate to the point of virtual non existence. I can't prove it won't happen just like you can't prove it will but the odds are way in my favor that we won't have anything remotely close to what you're talking about.

    I assume all you "sky is falling" types have your money where your mouth is and have a large sum of money shorting the U.S. stock market.
     
  7. Fogbuster

    Fogbuster Pro Bowl Player

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    .

    No doubt there is too much wealth concentrated in too few hands, hands that don't know the best way to use that wealth, and that so often misuse it.


    //
     
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I posted this in an other thread, but it got buried in the Obama fest.. will repost in this thread.

     
  9. weswelker#83

    weswelker#83 In the Starting Line-Up

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    Last edited: Mar 16, 2008
  10. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Hugo Chavez hates America, of course he's going to look for any way to slap at the US.
    Find a better example then the little tin pot dictator who's going to send his own country (and perhaps South America) into chaos.

    Unless you're a typical liberal who worships him because he kisses up to Fidel and called GWB the devil, in that case no rational thought will penetrate.
     
  11. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Jim Rogers is an idiot. IMO. He's used Wall Street to make himself a sh!t ton of money, and now he's old and rich so he's biting the hands that have fed and coddled him. Last I read he was selling everything he owned to move to China, because he thought China was a better country. Never mind that he admitted you couldn't live in the cities because of the pollution, never mind that the government is at heart repressive Communists...no, he's just going to flee.
     
  12. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Why is it that the doom and gloomers never give American ingenuity any credit, ever?

    If oil was $350 a barrel (which it never will be), don't you imagine we'd be driving cars powered by something else?

    Look southward, my friends. Look toward that big country southward, full of sun and sand and jungle and beautiful people. What did they do?
     
  13. MrBigglesWorth

    MrBigglesWorth Veteran Starter w/Big Long Term Deal

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    sure ingenuity might alleviate the oil situation, but what about the credit issue and inflation?
     
  14. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    You guys can't have it both ways, no matter how hard you may try. If the rising cost of oil is what's ruining the dollar and causing inflation (which I've seen more than one poster here say), then it only stands to reason, if energy costs come down, inflation follows.
     
  15. weswelker#83

    weswelker#83 In the Starting Line-Up

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    Kuweit ALREADY dumped the Dollar.United Arab Emirates and Qatar plan to abandon dollar peg.

    Oh no , they must hate America , or maybe they hate the Feds ?

    "Don't kill the Dollar, Bro"
     
    Last edited: Mar 16, 2008
  16. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Hell, Giselle Bundchen or however it's spelled abandoned the dollar some time ago. It really doesn't matter to me. Some people prefer Euros. Some prefer dollars. In China right now the rising middle class prefers gold.

    And I wouldn't put a lot of stock in Kuwait, UAE or Qatar's love for the US. :D

    It's funny though. I don't see any of these places refusing the dollar when it's handed to them as foreign aid or as part of military aid or defense.
     
  17. weswelker#83

    weswelker#83 In the Starting Line-Up

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  18. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Or it could just be a way to avoid more pain?

    I betcha Bear Stearns has lots of little people as investors and borrowers.

    Not to mention the impact it would have on the market as a whole.

    I'm not saying I agree with it or that it was a good idea, but for you to look at it under this prism of hate for everything they try to do is extremely annoying.

    At least they're out there trying to do something to solve a problem. What are you doing besides posting inane drivel on a message board?
     
  19. weswelker#83

    weswelker#83 In the Starting Line-Up

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    The bailout provided the elite to continue their extravagant lifestyles at taxpayer expense. We paid for them to keep their f..... yachts!
    You actually thought USA was a free market?
    Plll ..eaaase.
     
  20. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Well, that's good. Remember a few years ago, there was a huge luxury tax put on things like yachts? Remember how that worked? Rich people stopped buying new yachts. Yacht makers went out of business, taking with them hordes of other tradespeople.

    Who the fluck do you think drives the American economy? People with money, or without? People with money create businesses, buy cars, boats, homes, have work done to their cars boats and homes etc.
    I used to paint houses. I almost never painted for poor people, but I sure painted a crap load of rich people's houses. It's always a wonderful thing when someone decides their kitchen is too small and spends $100K to build a new one. That's money for me, for the plumber, carpenter...money we can then use to pay our bills.

    Stop being such a hate-filled ostrich.
     

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