You guys are great political minds, much respect to you. However, I am going to spend the next few years hoping you are completely and utterly wrong!
HappySqurriel said:
The problems we're facing today have little to do with Obama, and he has almost no ability to prevent them or lessen them, they're caused by decades of the government being overly involved in the economy and being unable to understand that a free market that isn't hampered by high taxes, high inflation, rampant corruption and a large debt load will correct itself. The problems will will face in a couple years will have a lot to do with Obama because few economies can perform well when they're hampered by high taxes, high inflation, rampant corruption and a large debt load which (with the exception of corruption which hasn't changed much) have all been made dramatically worse by Obama. |
Really? I don't claim to be an economics expert but I would argue that governemnt hasn't been involved enough over the last few decades. Unregulated banks have been able to gamble with our money in the pursuit of continued high profits resulting in the issue of loans to people who were clearly unable to pay back their debt. This created vast amounts of toxic loans which the taxpayers (in the UK at least) have now had to buy off them. If stricter regulations were in place then maybe we wouldn't be having this debate now. I'm all for a largely free market but I do feel that certain laws should be in place to prevent unregulated greed and risk taking (especially as it us who pays the price). Without any regulations I fear boom and bust economics will forever be associated with capitalism.
| Crashdown77 said: You guys are great political minds, much respect to you. However, I am going to spend the next few years hoping you are completely and utterly wrong! |
Thank you very much. I hope I am utterly wrong too!
| CrazyHorse said:
Really? I don't claim to be an economics expert but I would argue that governemnt hasn't been involved enough over the last few decades. Unregulated banks have been able to gamble with our money in the pursuit of continued high profits resulting in the issue of loans to people who were clearly unable to pay back their debt. This created vast amounts of toxic loans which the taxpayers (in the UK at least) have now had to buy off them. If stricter regulations were in place then maybe we wouldn't be having this debate now. I'm all for a largely free market but I do feel that certain laws should be in place to prevent unregulated greed and risk taking (especially as it us who pays the price). Without any regulations I fear boom and bust economics will forever be associated with capitalism. |
If you don't like how a bank operates, take your money to a different one.
Perhaps the problem here is not what the banks are doing, but the average person's knowledge of what they're doing.
Words Of Wisdom said:
If you don't like how a bank operates, take your money to a different one. Perhaps the problem here is not what the banks are doing, but the average person's knowledge of what they're doing. |
My money is in one of the few banks who haven't been mentioned at all in this whole crisis. How would you propose to inform the general population of what every bank is doing? Wouldn't revealing their business stratergies and investment plans undermine a free market more than putting in a few regulations to ensure that excessive risk taking is avoided?
Because then it wouldn't be called the media. The Media loves to get stock footage/stats and twist them into their own version...
| Rath said:
Edit: @Mafoo. A lot of Europe already has the benefits that both provide. Social democracy is a valid philosophy. |
The world has the advantage of the US being a free market.
Meaning, if everything discovered in the respective countries was not shared with the rest of the world, every one else would look like they were in the stone age compared to the US.
If we were like Europe, imagine a world where the US discovered advancements like the rest of the world. What would the medical industry look like, technology, transportation?
The world would be a very different place. (well, your world :p)
Words Of Wisdom said:
If you don't like how a bank operates, take your money to a different one. Perhaps the problem here is not what the banks are doing, but the average person's knowledge of what they're doing. |
Lol, If I examined each banks operating policies and had to choose one that had operating policies I agree with then I'd end up by keeping all my money in a suitcase under the bed.
I agree, if people had a little knowledge it would go a long way and we wouldn't be in such a mess.
Never mind... I'm sick of fighting nowdays.
TheRealMafoo said:
The world has the advantage of the US being a free market. Meaning, if everything discovered in the respective countries was not shared with the rest of the world, every one else would look like they were in the stone age compared to the US. If we were like Europe, imagine a world where the US discovered advancements like the rest of the world. What would the medical industry look like, technology, transportation? The world would be a very different place. (well, your world :p)
|
Well if we all kept our own discoveries to ourselves you wouldn't have television, the telephone, penicillin, radar, printing press or nuclear power (and thats's only of the top of my head) so your world would look pretty different too! 
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