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LOL--"marauding hedge funds" running the economy. "Workers are pathetic", "won't defend themselves".
I have heard higher quality socialist drivel at the local homeless shelter.
Americans Largely Silent as Their Nation is Systematically Destroyed
JB Williams Bio
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By JB Williams Tuesday, March 24, 2009
After trillions in taxpayer debt has been foolishly poured into the bottomless black hole of leftist wealth redistribution programs, under the guise of economic “stimulus” or “stabilization” legislation, the new “ONE World” government running Washington DC announces; Geithner, Bernanke Call for New Wind-Down Powers After AIG… and the people still sit silent as they watch Obamanation grow in unbridled power.
Geithner Asks Congress for even Broader Power to Seize private Firms as the average American stumbles through their daily routine as if nothing is happening. Canada Free Press managing editor Judi McLeod writes No cheerleader for propping up greenback at G20 summit asking, “Is the table being set for One World Government rather than speeding the recovery of the worldwide recession at next week’s G20 London summit?”
Obamanation has taken the nation from a trillion in debt to over $4 trillion in debt in the first sixty days, with even more federal spending promised, which could put the nation $10 trillion in debt before the 2010 mid-term election cycle. Amnesty for illegals and ACORN led redistricting will make 2010 and beyond a moot point.
Still, beyond the movement to mail tea bags to members of congress or file another legal demand for proof of Obama’s constitutional eligibility for the office he holds, both of which are like whistling in the breeze, the people remain largely silent.
Threatened with a Soup Line Existence
The American people would never trade personal freedom for the false promise of federally redistributed free-stuff under some ill-fated socialist experiment, unless they were first threatened with a soup line existence.
More crazy theories. If Obama and his cohorts have some sinister master plan to grab power and lead America on the path to communism what do they have to gain? Are they doing it just for a thrill? Or what?
Betrayal of capitalism has lead to growth of the military industrial complex along with government wars financed by deficit spending. Has anyone thought how we are financing the Iraq War all while lowering taxes and that we could actually fund war indefinitely under our current system of a government granted monopoly on the money supply?
When the Fed practicing easy money policies by artificially lowering the interest rate lower than the market rate, a dis-equilibrium happens between savers and investors, with investors pulling one way and consumers pulling the other way in order to invest and consume as much as we can, eventually creating an artificial boom, followed by a collapse.
Thanks to the government, we are able to keep on our path of rampant consumerism and imperialistic wars. We probably won't experience a deep recession that the market is calling for since we are living way beyond our means, but instead we can keep on consuming, fund a "New, New Deal", and keep on fighting wars.
LOL--"marauding hedge funds" running the economy. "Workers are pathetic", "won't defend themselves".
I have heard higher quality socialist drivel at the local homeless shelter.
I don't think he was stating his point as a socialist. Even my old finance professor said with out government regulations capitalism would eat its self. Unfortunately the government chose to do nothing for years until it was too late.
I don't think he was stating his point as a socialist. Even my old finance professor said with out government regulations capitalism would eat its self. Unfortunately the government chose to do nothing for years until it was too late.
Correction---communism eats itself. It consumes without producing. Capitalism puts too much emphasis on producing-- to the point of being consumed with overemphasis on materialism.
Capitalism's final hope is to be tempered with grass-roots religious and spiritual morals within the lives of individuals. The governments of the world can try to encode that into law into infinity, and it still will fail. Remember that communism attempted to encode the spirit of altruism and the common good into law, making it a requirement within the law, and it failed abysmally. That has to be encoded in the heart, and ultimately regulation will not do it.
Our founding fathers placed this intrinsically in the founding documents. They emphasized the realm of the spiritual as being central to ultimate freedom of the individual. Their intent was to encode limited government in the founding documents in order for the individual to be free to pursue his material desires within his own spiritual construct and that each state would look different in its execution and regulation of this pursuit......why can't we get this?
The OP is over the top but he does make a great point. Unregulated hedge funds do cause massive amounts to damage and allowing blatant betting on Wall St which has nothing to do with investing also causes massive damage. Take for instance how GM got systematically raided by hedge funds and had nearly its entire $35 billion rainy day fund bleed dry. Large manufacturers know they're in a cyclical industry so they typically would save money from the good years to tide them over during the bad years but hedge funds systematically raided GM for cash and so when this downturn hit they had no rainy day fund.
How did they do this? The hedge fund buys large amounts of stock in a couple with large cash holdings like GM then immediately aggitates that the rainy day fund be distributed to shareholders as a special dividend then as soon as the cash has been sucked dry they dump the stock. They're not investing and they're not interested in the long haul or how they've practically killed a great company because as long as they've gotten the money the hedge funds are happy. This type of corporate raiding is so destructive that it has been outlawed in most of Europe and Japan because healthy companies get attacked and then end up weakened or dead and then the real economy gets damaged by the hedge funds. Then there is the tactic of serial short selling which are designed to do nothing but bring down a company which is bad enough but then hedge funds are allowed to bet that company X is going down so after making that bet a hedge fund will go and serial short sell a company with the sole intention of artificially causing a company to fail. This is what is known a preditory capitalism and most other countries have made it illegal for a very good reason.
I'm a capitalist but if you allow a few money men to wreck the real economy by destroying sound companies just because they personally stand to make a one time gain then that's not a good thing for the economy or the country. That's why we need things like the up tick rule to stop serial short selling, that's why we need to regulate hedge funds to stop them holding companies & even nation's hostage, and that's why we can't continue this deregulation/no regulation philosophy of the right. There need to be curbs on the side of the road to prevent rogue activities which harm the wider economy.
In defense of shorting, it can be beneficial to the marketplace. In practice shorting occurs everywhere,A farmer who sells on a futures market when he plants, before he has produced his output, does the same thing. So does a homebuilder or custom tool maker producing to order.
Opposition to short selling also confuses correlation with causation. Selling short only lowers the price sooner than would otherwise occur. It cannot force the price down for long if the fundamental circumstances do not support it. Short sellers simply recognize negative information sooner. Their activity can begin the process of reducing market prices, but it is the negative information that causes stock prices to fall. And even when short sellers are wrong, they provide extra profit opportunities to those who expand their holdings at the temporarily low prices that result.
In fact, one could argue that short sellers help to move flawed companies closer to the fair market value. For instance, if a company is flawed - but is still being priced high - it is the responsibility of short sellers to sell that stock, allowing it to reach its fair price faster, where buyers will again be there to support it.
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