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That's a fair statement. We cannot choose not to be taxpayers.... but we can choose to be investors. Reap the benefits.
Belonging to a higher income bracket, my monthly taxes are enormous. I check my paystub every month and I'm like, mmm... but it's very common knowledge that money paid unto Caesar is money thrown into a hole. A bottomless hole. It's not coming back. And I don't care if it's gonna save my bum 30 years later when I retire. Really? I don't know. I don't care. That's a plain case of entitlement. Like all these people...... boooo, what has the government done for me? We are the 99ers. We'll go occupy wall street, in 37 degrees freezing cold.
That's a fair statement. We cannot choose not to be taxpayers....
Can we not?
Not being taxpayers seems to work quite well for many corporations.
I think we could all learn from their example.
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but we can choose to be investors.
We all sort of are.
We invest our money, our time, and bit-by-bit our very lives in all sorts of things.
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Reap the benefits.
We do seem to reap as we sow.
But back towards the topic . . . if broke up the big banks and sold off the assets, there would have not even been a single claim needed for deposit insurance.
And we would have a whole boatload of healthy smaller banks.
Instead, we have just put duct tape on a few -- still very leaky -- Titanics.
I'm no sucker. I've made money as a result the wonderful bailout. It's those who are less fortunate now than they were 5 years ago that are suckers.
That being said, had the banks failed, assets would have been at a standstill and liquidity would have gone down the tubes.... causing a significant drop in the market that would have taken much longer to recover from. By keeping the banks afloat, we've effectively bought time by allowing them to go about their business while we iron out policy.
What liquidity? And didn't you hear me? They could have been run as zombie banks. Its book keeping. Its a balance sheet. Burnake whipped up some treasuries and swapped them for the junk. Real liquidity in the economy would have been just as simple.
The solution is simple. The current rent seeking mortgage apparatus should have been shutdown , nationalized and eventually converted into real estate taxes in accordance with classical economics. Save your swindle for someone who doesn't know.
Business entities control governments and at large, civilizations.
Which means, wall street is more important than main street.
Investors (especially bond investors ) are more important than taxpayers.
Ask not what your country did for you. Ask what you did for your country. Pay your taxes on time and live in silence, thank you very fukushima much.
All this prole chatter isn't gonna change a thing. I look around, I see trees, I see no revolution. I know the earth revolves
I am afraid the last sentence is unfortunately true. However that's not in fitting with my personality. I always get something out of it anyway when I can make another prole join the party of impotence.
Just finished watching that Film "Inside Job". How quickly such large amounts of tax payers money were thrown at these heavily indebted investment banks, Freddie Mac, Fannie Mae, AIG, Bear Stearns - and in the UK Northern Rock, Royal Bank of Scotland - and all over the Europe the same thing.
Would it have been better to just let them collapse and let the remaining banks buy up the debt for cheap instead of tax payers. You could argue its a good deal for tax payers, and that foreign banks/investment funds would just buy up all these assets for nothung - but now we are seeing countries which are creaking under the debt load helped in part by printing money and quantitative easing.
countries' debt existed without the help of QE policies. letting the banks collapse...well, define "better"? I think it could have been handled in a better way, but if nothing was done, many more of us would be on the long-term-unemployed list right now. spreading the pain out over multiple years may or may not be "better", depending on your philosophy.
I'm no sucker. I've made money as a result the wonderful bailout. It's those who are less fortunate now than they were 5 years ago that are suckers.
That being said, had the banks failed, assets would have been at a standstill and liquidity would have gone down the tubes.... causing a significant drop in the market that would have taken much longer to recover from. By keeping the banks afloat, we've effectively bought time by allowing them to go about their business while we iron out policy.
well said. i think this is one of the best posts of the thread. and who knows what that more severe market drop would have brought as well. much worse conditions. governments across the country would be in worse shape also. like i said...not handled perfectly, but not horribly either.
well said. i think this is one of the best posts of the thread. and who knows what that more severe market drop would have brought as well. much worse conditions. governments across the country would be in worse shape also. like i said...not handled perfectly, but not horribly either.
Explain it. Explain why it would have ruined us. I love these flat out speculations. And if this is the case, where is the spirit of the Sherman Anti-trust to keep them from being too big too fail. Why are we not moving on this ASAP.
I'll tell you why, cause its a scam. Not one peep about how to run a zombie bank from the lot of you.
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