Free marketers

smot · Sep 21, 2008

What do you think about what is happening in the financial markets? It is lol how Bush now is supporting government intervention (I thought he was against government intervention) to help the struggling financial markets.

Why does the government readily help the wealthy? Wouldn't the less fortune be grateful for such government intervention into their condition?

Pressed_Rat · Sep 21, 2008

No, Bush wants you to THINK he is against government intervention. The fact is he isn't and never was. The fact is that this is not a free market economy.

Shane99X · Sep 22, 2008

Pressed_Rat said:

No, Bush wants you to THINK he is against government intervention. The fact is he isn't and never was. The fact is that this is not a free market economy.
Click to expand...

QFT

also:

http://wonkette.com/402893/402893

... America just sold another half-trillion dollars of itself to China, all to keep the markets flat for a week in September.
And this does nothing to halt the actual cause of this financial collapse, the actual decreasing-by-the-day assets sitting on .13-acre exurban lots all over Florida and Michigan and the Southwest, from Dallas to San Francisco and everywhere in between: the single-family stick-and-stucco houses that were sold for double or triple what they were worth, even in good times.
Today, one-in-ten mortgages is either already in foreclosure or in default, nationwide. Even with foreclosure sales making up half of all purchases in collapsing markets like Southern California, there’s still a record inventory of houses for sale, and a record inventory of vacant homes across the country. And there are more than 9,000 new foreclosures every day.
A week ago, Paulson said: “The housing correction poses the biggest risk to our economy.” Nationalizing AIG and Fannie and Freddie and throwing $50 billion to keep money market funds at a buck a share is not going to change that.
Click to expand...

http://online.wsj.com/article/SB122186507676758669.html

Police short sales and block them, says Securities and Exchange Commission Chairman Christopher Cox. Fire the SEC chairman, says John McCain. Investigate those short sellers, say state attorneys general. Hold hearings to grill Wall Streeters says Nancy Pelosi. "Fire the whole Trickle-Down, On-Your-Own, Look-the-Other-Way crowd" says Barack Obama, and "get rid of this whole do-nothing approach to our economic problems." The Democratic presidential candidate wants public affirmation of his argument that the whole free-market philosophy of economics has been wrong.
Some of this talk carries an implicit suggestion: Do what I say or we will have another Great Depression. And no wonder: This September feels a lot like autumn 1929.
But there's an important fallacy here. The stock market crash of October 1929 and the Great Depression were not the same thing. What made the depression great was not magnitude but duration -- the fact that unemployment was still 20% 10 years later. In the 1930s, policies like the ones described above did not speed recovery; they impeded it....
Click to expand...

http://www.reason.com/blog/show/128925.html

From the occupation of New Orleans after Katrina to the financial socialism-for-the-rich we're seeing right now, the Bush Republicans' instincts in a crisis have always been to seize more power. And then -- just wait! -- to demonstrate how enormously unsuited they are to wield it.

And the Democrats, those alleged alternatives? Maybe it's their innate affection for economic intervention, maybe it's just the same spinelessness they've brought to issues ranging from FISA to Iraq, but they don't seem to be objecting to the Paulson plan. ("The consequences of inaction could be catastrophic," says Harry Reid, according to the Bloomberg report I quoted above. The consequences of really stupid actions must not be up for discussion.*) McCain's position on these issues keeps evolving; I expect that at some point next week he'll call for parading short sellers through the streets in dunce caps.
Click to expand...

this smells manufactured to me, corporate class in bed with the governing class to rip us off right in front of our eyes. If you aint scared yet it's cause you aint paying attention...

Log in or Sign up

Free marketers

smot Member

Pressed_Rat Do you even lift, bruh?

Shane99X Senior Member

Log in or Sign up

Free marketers

smot Member

Pressed_Rat Do you even lift, bruh?

Shane99X Senior Member

Useful Searches