Ron Paul 2012!!! Your thoughts on who we should pick for our "Cause"?

[SpasticGramps]

Did CSNBC and Bloomberg forget to mention QE is supposed to allow banks to write off their losses while instead they're consolidating (and) retaining their toxic debt? Depends on the angle they wish to portray. What are CSNBC and Bloomberg coming to?

Right. So there is always what these QE, LTRO, etc etc are "supposed" to be used for. It's how they are marketed to the public so it seems acceptable. And then there is the reality of the situation. TBTF has taken the money and purchased equities and other assets to turn profits so they can collect big bonuses. TBTF doesn't have to mark to market their debt anymore. It's market to fantasy accounting. Makes Enron look like boy scouts.

This will always be the case and it's why after it's all said and done it won't end well.

 

[DiscoBiscuit]

Right. So there is always what these QE, LTRO, etc etc are "supposed" to be used for. It's how they are marketed to the public so it seems acceptable. And then there is the reality of the situation. TBTF has taken the money and purchased equities and other assets to turn profits so they can collect big bonuses. TBTF doesn't have to mark to market their debt anymore. It's market to fantasy accounting. Makes Enron look like boy scouts.

This will always be the case and it's why after it's all said and done it won't end well.

The thing I don't get is the folks saying, "get out of the way more". When theories and their realities diverge, they diverge from consideration. That's why one side wants to restore restrictions that without, in part caused the housing bust. With this Congress it's easier said than done. What's slated to be implemented is being stalled by people that don't want the president to be seen as doing something - anything good for the country.

 

[whodare]

Unfourtunatly regulations don't work. You can legislate something is too risky but it's usually after someone "exploits" the markets and gets bailed out.

They'll repackage, re-name, and shuffle the risky investments around knowing they've set the precedent for TBTF bailouts...


No doubt letting big ass corps go through privately managed bankruptcy(supposing they could even raise funds after the loss of trust) is going to fuck the markets but the effect of running a continual deficit and then tacking on a few trillion in "secret loans" (secret cause they didnt wanna say they expanded the money supply by 16 trillion?)is only going to be worse in the long run.

It's utter bullshit to pass the cost of their irresponsibility to us in the form of trillions in public sector debt...

 

[mrcreosote]

"PM Mariano Rayjoy declared " The Obama Administration has been a beacon and an inspiration to the Euro Zone.
We are all Obama now."

 

[MadBuddhaAbuser]

Don't forget, we've already been there. In my best Arnold impersonation, "It was very bad."

We've been regulation free - thus no regulations were broken. The top did fine and the rest fell apart. Eventually people said, "This sucks" and started voting for people who legislated their better interests.

We have two basic choices. We can do nothing and watch the top control wealth and cater to themselves. Or, we can allow greedy bastards to make the kind of money that doesn't strafe the economy while regulating their attempts to get rich at our expense.

I realize you and I disagree on a few things. If we managed an aspect of gub, even to the point of moral and ethical standards befitting a couple of weed-tokin lawmakers, we'd have to balance our opinions on the needs of everybody before we allow a few to lay waste. Enter big money and best wishes. IMO, it needs to go.

Corporate execs are no different than loggers. Some loggers would manage their exploits and some would clear cut everything into memory. Gub finds the point where those fuck heads can satiate their greed while still protecting something for future generations.

The human race might be swell as a whole but within there's scavengers, predators, vultures and vampire squid. Saying these guys need us out of their way (even more) sounds like we need to like rip offs better.

we need to stop electing ripoffs.

People need to be elected based on principals, not how they look or how many soundbites they come up with.


Just some wishful thinking....

 

[DiscoBiscuit]

Lol. When's the last time you blamed the president for Greenspan's prime interest rate boondoggle? You didn't.

 

[SpasticGramps]

In June of 2008 there were $673 trillion in outstanding derivatives.

In December of 2010 it had gone down to $601 trillion in outstanding derivatives.

By June of 2011 it had increased to $708 trillion in outstanding derivatives.

That's a $107 trillion increase in 6 months!

"And you know right now we don't see any obvious bubbles in the economy. But certainly that's something we are going to need to look at and continue to monitor."--- Ben Bernanke Feb. 28, 2012

Well, they never seem to see any of the bubbles. Incompetence or maliciousness?

 

[DiscoBiscuit]

we need to stop electing ripoffs.

People need to be elected based on principals, not how they look or how many soundbites they come up with.


Just some wishful thinking....

Totally agree.

 

[SpasticGramps]

The thing I don't get is the folks saying, "get out of the way more". When theories and their realities diverge, they diverge from consideration. That's why one side wants to restore restrictions that without, in part caused the housing bust. With this Congress it's easier said than done. What's slated to be implemented is being stalled by people that don't want the president to be seen as doing something - anything good for the country.

Regulations don't work when the regulators won't enforce them because they are owned by the institutions they are supposedly regulating.

In other words the system is too corrupt for anything to be done now IMO. Stems from the FED through the White House through the bureaucracy. Not just this White House, but decades of this same song. The system is FUBAR.

 

[DiscoBiscuit]

In June of 2008 there were $673 trillion in outstanding derivatives.

In December of 2010 it had gone down to $601 trillion in outstanding derivatives.

By June of 2011 it had increased to $708 trillion in outstanding derivatives.

That's a $107 trillion increase in 6 months!Well, they never seem to see any of the bubbles. Incompetence or maliciousness?

What would you propose?

 

[bentom187]

if anyone is intrested....

Peter Schiff, Tom Woods, Mike Church, Karen Kwiatkowski & Dan Gordon will be taking your questions LIVE via video feed in our chat room > http://libertychat.com/chat < tonight starting at 8:00 PM EST.

You ask the questions. Need to register to participate but registration is FREE

 

[monkey5]

~~"It's utter bullshit to pass the cost of their irresponsibility to us in the form of trillions in debt.." ~~Man, TRUE THAT! What a true statement that is there! monkey5

 

[SpasticGramps]

What would you propose?

Getting a nice piece of property in the country and some popcorn.

 

[DiscoBiscuit]

No restrictions on derivative transactions?

Kinda looks like market regulation is saying, "You go boyee!" Kinda looks like personal accountability is saying, "Everybody else is doing it, get mine before it blows up!"

There it is... a totally unregulated market - and it's fucking bonkers.

 

[Hash Zeppelin]

Dicso Biscuit:
I think that there should be laws saying certain business practices are stealing. I don't view that as regulation really though. Like mitt Romney's entire financial career with bane capital should be illegal. It is basically a form of stealing. Over leveraging to the point of where you can not back your shit up should be illegal for sure. What the banks did with the housing market was straight up stealing.

I think regulation is things that are not so black and white. Like requiring people to put a 12 foot fence around all pool, and mow your lawn. they are regulating how you run your property. Like extra taxes for cigarettes, even tough i don't smoke I dont think that is fair. People can make there own choices, dont tax them for being adults.

 

[whodare]

End the centralized banking monopoly.

Limit the governments spending. Constitutional ammendment banning deficit spending.



The tecnology exists it isnt 1900 anymore.

 

[SpasticGramps]

If we would have allowed the market to work properly the OTC market would have collapsed long time ago and creditors (institutions) who had precipitated would have been wiped out. But we keep bailing them out so they've grown and grown. Eventually they'll get to a point where we can't bail them out anymore and that's when the property and popcorn will come in handy.

People need to learn lessons from failures, but in our "New Normal" there is no failure therefore there is no risk. Well, that will work until it won't because that's not reality and it's not sustainable.

You can trace this "New Normal" back to when New York should have gone bankrupt in the Ford administration and they were bailed out. Moral Hazard has rotted the system since then and maybe before then.

 

[mrcreosote]

Hey Gramps,
Ya wanna go with me down to the Fed window and get some of that negative interest money? We'll tell em we want to buy some sovereign debt...
Then we'll take the money and buy gold instead...up 15 bucks yesterday...

We'll transfer it to London first then we're good to go. If anyone asks we'll just say "I dunno, it was there when I left."

No big deal, London loses money all the time...
Ask Jon Corzine, he'll tell ya.

 

[Plant Early]

 

[whodare]

Bailouts are to natural selection what
Red lights are to traffic.