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Old 10-16-2011, 11:12 AM  
kane
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Join Date: Aug 2001
Location: portland, OR
Posts: 20,684
Quote:
Originally Posted by Jesus H Christ View Post
Kane, we are on the same page, almost. We "lived" in a capitalistic society until Congress decided to turn us socialists. They should of NEVER approved any bailouts and let the weak fail as the strong will always raise to the top.

Meaning, if I deposit $100 in my bank and the bank hedges/loans $900 on that $100 and the loan investment fails? They made a poor choice, as with the homeowner who ran the "risk" to build quick equity as the market dropped causing the loss of their investment capital. They also made a poor choice. The only difference here, and what people should be protesting about, Banks can go to the FED and re-capitalize themselves with zero/no interest loans approved by Congress.

Could you or I get a zero/low interest loan from the FED? Fuck no we couldn't. Congress/President could easily stop this, but they opt to run the risk in "hopes" all will work itself out. It's not, people are getting angry because things are getting worse with no light at the end of the tunnel.

We Americans need to fall back on our fundamentals that built this country and stop using dead Austrian financial theories to dictate or financial future. Sadly, if you asked the protestors who represents them in Congress, I doubt 90% would even know.

Also, it's not just the Government, but us. I few months ago I went to Walmart to buy a fishing rod and parked in the back of the lot because my dog is a barking spastic.

Anyway, as I walked back to the truck an old motorhome was close and the family was actually having a BBQ in the parking lot. As I loaded the gear, I see a guy from the BBQ come over and spark a conversation.

Thinking he was going to complain about the dog he starts in with a sad story about losing his job and his family dosen't have anywhere to go and they're almost out of gas, etc.

Thinking I'll soon get $20 in Karma points, but then smelled vodka, he's smoking, and his kids, (10-12) must of weighted 180lb each. Sorry I said, can't help you and got in my truck and left.
I was reading the other day about how many of these investment banks that have access to that near or at zero interest fed loans are basically just taking huge loans then buying t-bills with it at a guaranteed rate, cashing in the t-bills upon the mature date and paying back the loan and it is instant free money with zero risk. Too bad I can't do that.
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