NoddyHolder said:
HappySqurriel said:
NoddyHolder said:
HappySqurriel said:
Yeah, a lot of posters on these forums (and throughout the internet) have been saying this for years. While there are several conspiracy theories why most governments choose such misleading methodologies to calculate statistics, the simplest and most reasonable explanation is that individuals would be less willing to support the government’s meddling in the economy if they knew how little benefit there was from it and how much damage they were doing.
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bull, its Libertarian scum that are causing the problems by refusing to let the government do more to tackle the issues, if the self righteous vermin were kept well away from politics things would have gone much better.
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Right ...
If it wasn’t for government interference through pseudo-governmental bodies like Fannie Mae, Freddy Mac and the Federal reserve and the government bailing out the banks, auto industry and airlines every decade the economy wouldn’t be in the mess it is in today. The US government can’t even seem to write simple, straightforward rules to regulate the financial industry that are universally applied that would have prevented this mess after it happened, what makes you think that they have the foresight to fix this problem without causing more problems?
A major contributing factor to this crisis was the government’s involvement in the economy to eliminate the downturns after the dot-com bubble and post-911, and you think that it is a good idea for the government to get further involved in the economy to eliminate the downturn they caused? This is kind of like arguing that BP should recklessly abandon safety and rapidly expand their drilling in the gulf to pay for the mess that they made in the gulf.
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they werent left wing enough, they should have put in place much tighter regulations to stop that from happening, if they were left wing (properly so) they would have done that.
edit: the problem wasnt government inteference, its that the government didnt interfere anywhere near enough, lack of regulation is because of you and your lots capitalist bull.
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Regulation is not a left wing or right wing concept ...
The government set up rules and regulations to promote home ownership among groups of individuals who did not have the means to purchase a home; and banks were being sued for not authorizing loans to people who couldn’t pay them off. That doesn’t sound like a very conservative policy approach to me.
There is nothing wrong with having reasonable regulations, like limiting mortgages to amortization periods of 25 years or less, eliminating teaser rates, requiring a 10% down-payment on a primary residence (25% or a secondary residence or investment property), having a capital reserve requirement of 10%, disallowing the creation of derivatives that can not be easily converted into their underlying assets, and putting effective oversight on pseudo-governmental organizations like Fannie-Mae, Freddy Mac and the Federal Reserve. On one side of one page of a recipe-card everything that needs to be done to prevent this crisis from being duplicated can be listed, and yet in dozens of pages of legislation none of these things were implemented.
Regardless of the political party, governments are incompetent or corrupt and their involvement in the economy only causes more problems than it fixes.