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25 Responses to “March 30, 2009: The Day in 100 Seconds”
This is not socialism. Socialism is about the redistribution of wealth. Not the control or bailing out of mega corporate industries. Printing money out of thin air is a stupid thing to do. It only results is the devaluation of the dollar, but the wall street friends of Obama, which I do not see how are they socialist, are glad to see tax payer money in their pockets.
Do not watch “The Obama Deception” on youtube, I hate that video. When they say President Obama is just a puppet for the New World Order bankers its not true! They lie in that film, they lie!!
bahh, japanese cars are better, shit even if the japanese car is say 5 years old, its still as good as new. Chrysler just cant make a car that feels comfortable.
So what has Obama done to demonstrate he is a socialist? I am more concerned with what capitalism has done in putting the country in its present state. Instead of the labels and name calling, let’s hear some solutions.
OlivierdeAthos, You say we would be in “another Great Depression” right now without the FDIC, but where are we getting the money to pay for the guarantees? The government is $11 trillion in debt, and is spending trillions more.
If the FDIC needed to get money to the depositors it insured, where would it get the money?
And the ones that were Reagan’s, the Surface Freight Forwarder Deregulation Act and the Bus Regulatory Reform Act, were attempts at increasing freedom of entry into the marketplace.
Airline Deregulation Act – 1978
Staggers Rail Act – 1978
Motor Carrier Act – 1980 (Carter)
Federal Aviation Authorization Act – 1996, gave FAA administrator the ability to review regulations.
Ocean Shipping ref act – 1998. In 2001, the Federal Maritime Commission said OSRA was on its way to achieving “a more market-driven, efficient liner shipping industry.”
Telecom Act – 1996, increased telecom competition, VoIP (”voice over IP”).
OlivierdeAthos, Only two of those laws were Reagan’s, which was Richardgwm’s complaint. Anyway…
Commodity Futures Modernization – 2000, and it implemented recommendations by the President’s Working Group on Financial Markets.
Responsible Lending Act – 2005, and what was deregulatory about this?
Changes to the Clean Water and ESA – How is this related to the economy?
[...] Labor Depts, [OSHA] and Mine Safety rules – What specific changes?
Railroad Revitalization and Regulatory Ref Act – 1976
The fractional reserve was actually lower than 10% for the GREs, which was part of the problem. (I think the SEC let them have 3%.)
I never said GLBA was a totally Republican thing. It was signed by Clinton, who still defends it to this day. (Despite the fact that both it and CFMA were slipped into omnibus bills without debate. ) The guy was a good president, but sometimes has trouble admitting he made mistakes.
FDIC didn’t guarantee ALL deposits. Up to $100K, per depositor per bank. (It’s up to $250K now, but only temporarily.) On the one hand, it creates a small moral hazard, but on the other it prevents bank runs in downturns, something which exacerbated the Great Depression. There’s no doubt in my mind that we’d be in another Great Depression right now if not for the FDIC.
OlivierdeAthos, (Sorry, ran out of room in my other comment).
We have a system of fractional reserve banking. In my other comment, someone deposited $5,000 in your bank. As a banker, if the rule is 10% reserves, you are allowed to lend out $25,000. However, you didn’t actually have that money to lend, so you created it “out of thin air.”
Also, 75% of House Democrats and 84% of Senate Democrats voted for Gramm-Leach-Bliley, so it’s not 100% Republicans’ fault.
The Glass-Steagall Act created the FDIC. If anything, the Glass-Steagall act allowed banks to be as reckless as they wanted to be, because the government backed the majority of the depositors’ money.
Say someone deposits $5,000 in your bank and wants it back after two weeks. The government says they’ll guarantee 100% of the money if you lose it. You would have no incentive to be careful as to whom you lent the money.
Me, I guess I’d say I’m a bit of both; that’s why I worked AGAINST Bush in the 2000 primaries, I wanted a conservative Republican president – not the RINO / Compassionate “conservative” Bush.
But, he was still lightyears better than Gore or Kerry. Those two are COMPLETE morons; just like D’ohBama.
Who me? I was always against Bush! LOL I thought conservatives were supposed to believe in personal responsibility? Now they all sound like moral relativists.
Oh wait my bad, of course you aren’t a conservative, you are a dittohead.
June 28th, 2010 at 10:03 am
This is not socialism. Socialism is about the redistribution of wealth. Not the control or bailing out of mega corporate industries. Printing money out of thin air is a stupid thing to do. It only results is the devaluation of the dollar, but the wall street friends of Obama, which I do not see how are they socialist, are glad to see tax payer money in their pockets.
June 28th, 2010 at 10:38 am
☻/
/▌
/ just copy and paste bob has no patience
June 28th, 2010 at 11:00 am
Do not watch “The Obama Deception” on youtube, I hate that video. When they say President Obama is just a puppet for the New World Order bankers its not true! They lie in that film, they lie!!
June 28th, 2010 at 11:03 am
bahh, japanese cars are better, shit even if the japanese car is say 5 years old, its still as good as new. Chrysler just cant make a car that feels comfortable.
June 28th, 2010 at 11:46 am
If you love the Republic then you hate Obama and his socialist agenda. (bush was terrible as well)
June 28th, 2010 at 12:06 pm
I agree. If you’d like, try and shut up that crazy whitepride61.
June 28th, 2010 at 12:47 pm
I was gonna spend some time writing a response to Mr. Ted, but looks like everyone else shut him up already.
my favorite, “Tell me, in a sentence, what socialism is. ” touche.
June 28th, 2010 at 1:06 pm
Obama INDICTED by ‘Common Law Grand Jury’ in Georgia !!!!!!!!!!!!!!!!
see: worldnetdaily – On-line news March 31, 2009, and do your Google search strings. AOL picked it up.
Why can’t this smooth talkin sitting President turn over his real birth certificate ?
June 28th, 2010 at 1:52 pm
Solutions? Let AIG fail. Let GM go into bankruptcy so they can get out from under their job-killing unions.
There’s 2 solutions.
June 28th, 2010 at 1:59 pm
He, like Bush, is siezing control of the means of production.
DUH, where have you been?
June 28th, 2010 at 2:08 pm
Ecology-destroying Hybrids, for example
June 28th, 2010 at 2:39 pm
Which cars are you talking about? You really are a blowhard…you make claims with no proof or reference.
June 28th, 2010 at 3:17 pm
So what has Obama done to demonstrate he is a socialist? I am more concerned with what capitalism has done in putting the country in its present state. Instead of the labels and name calling, let’s hear some solutions.
June 28th, 2010 at 3:39 pm
OlivierdeAthos, You say we would be in “another Great Depression” right now without the FDIC, but where are we getting the money to pay for the guarantees? The government is $11 trillion in debt, and is spending trillions more.
If the FDIC needed to get money to the depositors it insured, where would it get the money?
June 28th, 2010 at 3:54 pm
And the ones that were Reagan’s, the Surface Freight Forwarder Deregulation Act and the Bus Regulatory Reform Act, were attempts at increasing freedom of entry into the marketplace.
June 28th, 2010 at 4:04 pm
OlivierdeAthos,
Airline Deregulation Act – 1978
Staggers Rail Act – 1978
Motor Carrier Act – 1980 (Carter)
Federal Aviation Authorization Act – 1996, gave FAA administrator the ability to review regulations.
Ocean Shipping ref act – 1998. In 2001, the Federal Maritime Commission said OSRA was on its way to achieving “a more market-driven, efficient liner shipping industry.”
Telecom Act – 1996, increased telecom competition, VoIP (”voice over IP”).
June 28th, 2010 at 5:02 pm
OlivierdeAthos, Only two of those laws were Reagan’s, which was Richardgwm’s complaint. Anyway…
Commodity Futures Modernization – 2000, and it implemented recommendations by the President’s Working Group on Financial Markets.
Responsible Lending Act – 2005, and what was deregulatory about this?
Changes to the Clean Water and ESA – How is this related to the economy?
[...] Labor Depts, [OSHA] and Mine Safety rules – What specific changes?
Railroad Revitalization and Regulatory Ref Act – 1976
June 28th, 2010 at 6:01 pm
sounds like it was a good day
June 28th, 2010 at 6:14 pm
It was from “Charge of the Light Brigade” and he’s an ELITIST!
June 28th, 2010 at 7:03 pm
The fractional reserve was actually lower than 10% for the GREs, which was part of the problem. (I think the SEC let them have 3%.)
I never said GLBA was a totally Republican thing. It was signed by Clinton, who still defends it to this day. (Despite the fact that both it and CFMA were slipped into omnibus bills without debate. ) The guy was a good president, but sometimes has trouble admitting he made mistakes.
June 28th, 2010 at 7:15 pm
FDIC didn’t guarantee ALL deposits. Up to $100K, per depositor per bank. (It’s up to $250K now, but only temporarily.) On the one hand, it creates a small moral hazard, but on the other it prevents bank runs in downturns, something which exacerbated the Great Depression. There’s no doubt in my mind that we’d be in another Great Depression right now if not for the FDIC.
June 28th, 2010 at 8:12 pm
OlivierdeAthos, (Sorry, ran out of room in my other comment).
We have a system of fractional reserve banking. In my other comment, someone deposited $5,000 in your bank. As a banker, if the rule is 10% reserves, you are allowed to lend out $25,000. However, you didn’t actually have that money to lend, so you created it “out of thin air.”
Also, 75% of House Democrats and 84% of Senate Democrats voted for Gramm-Leach-Bliley, so it’s not 100% Republicans’ fault.
June 28th, 2010 at 8:54 pm
OlivierdeAthos,
The Glass-Steagall Act created the FDIC. If anything, the Glass-Steagall act allowed banks to be as reckless as they wanted to be, because the government backed the majority of the depositors’ money.
Say someone deposits $5,000 in your bank and wants it back after two weeks. The government says they’ll guarantee 100% of the money if you lose it. You would have no incentive to be careful as to whom you lent the money.
June 28th, 2010 at 9:16 pm
Me, I guess I’d say I’m a bit of both; that’s why I worked AGAINST Bush in the 2000 primaries, I wanted a conservative Republican president – not the RINO / Compassionate “conservative” Bush.
But, he was still lightyears better than Gore or Kerry. Those two are COMPLETE morons; just like D’ohBama.
June 28th, 2010 at 9:42 pm
Who me? I was always against Bush! LOL I thought conservatives were supposed to believe in personal responsibility? Now they all sound like moral relativists.
Oh wait my bad, of course you aren’t a conservative, you are a dittohead.