Our economy is about to enter a double dip, what do we do?
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We need to decide what kind of country we are. I am leery of an attempt to vilify the rich, because most of the time the rich who are manipulating our government aren't mentioned. Most want to condemn the millionaire, not realizing it is the fascist manipulation of the tax laws by the top .05% who are really to blame. The income disparity, even in the top 10%, is alarming. The top 1% are the ones who drive policy in this country. What we have is not even remotely close to a free market system.
Agreed. Now, how about a flat consumption tax on everyone, including the top 1%?
Since conservatives are the only ones who can fix our economy, what should the koch brothers... *cough ahem* I mean tea party do to ensure that we don't enter a double dip recession?
another skewed poll..... Why not tax the rich, tax the 47% that pay no income tax, eliminate capital gains and tax them as ordinary income?
We don't have a double dip now, and may not have one.
The investors in that firm will lose all their money because the company lied about its earnings. That's not "fixing" the problem, that is the problem.
Only a complete idiot would invest in shares of a firm, knowing that the earnings could easily be fake. You'd have no market left.
Plus like a typical Tea Party poster, you skipped the hard question, which was: if deregulation of financial markets is such a great idea, why aren't Tea Partiers speaking out against fractional reserve banking? That is heavily regulated.
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Originally Posted by denverian
If only Enron were harmed, you might have half a point. But many investors were hurt, as well as innocent Enron employees.
So do your due diligence before investing in a firm. Believe it or not, some of us research before investing. Some of us put EFFORT into our finances, rather than just blindly trusting the government to regulate and protect us from harm. Novel idea, isn't it?
I am far from a 'tea partier'. Please don't lump me in with those idiots. I have been a registered independent my entire life and have never voted for a conservative in a national election. I believe in the free market, and I believe in economic theory (coincidentally, please pick up a few economics books..it will help)
I am for de-regulating ALL industries. Including removing regulations on fractional reserves.
So do your due diligence before investing in a firm. Believe it or not, some of us research before investing. Some of us put EFFORT into our finances, rather than just blindly trusting the government to regulate and protect us from harm. Novel idea, isn't it?
So how would you determine whether or not, say, General Electric was lying about its earnings? I'm curious what your "due diligence" entails.
So how would you determine whether or not, say, General Electric was lying about its earnings? I'm curious what your "due diligence" entails.
Just the standard stuff...historical actions of top members, voting records of shareholders, if financial metrics match industry benchmarks, do reported earnings align with customer reports of sales, just the standard corporate finance stuff really.
I can recommend a few good books on the subject if you are interested. Fiscal due diligence is pretty straight forward. The problem is that no one knows finance (we teach art in public schools but not accounting or finance, crazy, right?)
Just the standard stuff...historical actions of top members, voting records of shareholders, if financial metrics match industry benchmarks, do reported earnings align with customer reports of sales, just the standard corporate finance stuff really.
Without regulations, they could be lying about the historical actions of top members, not showing the voting records of shareholders, failing to report any financial metrics, lying about their reported earnings and their sales.
So no, you couldn't do any of that "due diligence." That's the point.
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I can recommend a few good books on the subject if you are interested.
LOL. Please. I don't want to be exposed to any of the nonsense that you have.
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Fiscal due diligence is pretty straight forward. The problem is that no one knows finance (we teach art in public schools but not accounting or finance, crazy, right?)
I actually get a kick out of how condescending you are.
Without regulations, they could be lying about the historical actions of top members, not showing the voting records of shareholders, failing to report any financial metrics, lying about their reported earnings and their sales.
So no, you couldn't do any of that "due diligence." That's the point.
There are obviously downsides, but the current state of the world shows that regulation obviously is not working.
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LOL. Please. I don't want to be exposed to any of the nonsense that you have.
I actually get a kick out of how condescending you are.
So you don't want to educate yourself with books recommended to be the top reads in the fields of finance and economics? You would rather argue based purely on your opinion? Got it.
It is not condescending when I have studied these subjects and you blatantly refuse to educate yourself. Look - I am a nerd...I read a LOT. If you have literature (books, articles, ANYTHING) to back up what you say, please tell me and I will read it. Here is the thing though, I want academic literature - not biased articles from some major news source. If you want, I can give you the names of the books and articles I have read. Is it too much for me to ask you to back up what you are saying?
your response: "there are obviously downsides." understatement of the year.
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Originally Posted by hnsq
It is not condescending when I have studied these subjects and you blatantly refuse to educate yourself. Look - I am a nerd...I read a LOT.
I also read... a LOT. That fact doesn't absolve me of having to construct a cogent argument of my own.
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