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Roughly every 2 to 5 years the country was in recession or depression from 1800 to 1907.
If you were to total the total number of years the country was in recession in the 1800's, you come up with 51.5 years, vs. only 29 years for the 1900's.
Nothing unusual there.
Recessions are caused by the re-allocation of Capital, which takes place frequently in a country as large and diverse as the United States throughout its development.
You need the down payment to ever borrow any money first. Then you still have to pay back that interest. Even if it is low, can still be very difficult.
I mean what can you buy with the borrowed money that will ensure principal and interest repayments? Assuming you can foot the down payment first.
In 2010 I borrowed at 3% through my bank line of credit (no down payment), to buy more of my local hospital investment that pays on the order of 15-20%. I have about paid off the debt with my investment returns.
This summer we bought a new Lincoln car. We had a trade in, but otherwise no other down payment and no interest. It gets paid back in monthly payments over 5 years.
In 2010 I borrowed at 3% through my bank line of credit (no down payment), to buy more of my local hospital investment that pays on the order of 15-20%. I have about paid off the debt with my investment returns.
This summer we bought a new Lincoln car. We had a trade in, but otherwise no other down payment and no interest. It gets paid back in monthly payments over 5 years.
There is absolutely nothing, and I mean nothing, like one story such as yours, to make me forget the 100s of millions who have suffered and continue to suffer. Thanks much for sharing your heartfelt story. The world needs more like you.
There is absolutely nothing, and I mean nothing, like one story such as yours, to make me forget the 100s of millions who have suffered and continue to suffer. Thanks much for sharing your heartfelt story. The world needs more like you.
I gave NJ Brazen_3133 some examples. Nothing more.
OP: The question you raise is a good one. Unfortunately you will never get anything resembling a reasoned or informed debate going here. It's like posting a serious comment on a Politico article - readers informed by slogans, ideology, willful ignorance and misinformation.
That said, the most entertaining for me by far are references about what the founding fathers thought (or would have thought) about modern institutions that had no meaning or in their pre-industrial, pre-modern, primarily agricultural society.
Well, actually, a society is a society and be it agricultural or industrial, as far as there are money around, they sort of operate on about the same principles. Nihil novi ante sol. Banks been around in a form ever since money appeared.
So back to the founding fathers. You realize, Fed is by far not the first central bank owned by private consortium in the country? And that every time is ended in disaster? And that Andrew Jackson to vehemently opposed to any central bank had huge success with his greenback issuance and was the only president in the country history that actually rid of the country debt completely? And greenbacks were so popular that later on there were riots requesting return to greenbacks?
Maybe there was a not so good reason for the forefathers to be adamant on not handling money issuance to a private organization that is not even owned by the country and owners are oversees? Including current Fed? I wouldn't like that even simply out of patriotism.
I'm doing fine and am quite content that I have preserved my humanity for all those who have suffered so much with no end in sight.
Our rich take care of themselves.
The poor we all take care of.
I think I would be correct in saying that you and I desire what's best for our middle class?
While the Federal Reserve isn't a prefect system, it's far batter than what the economy was before it existed. If you look back in history there were bubbles and recessions far more often then before the federal reserve. Roughly every 2 to 5 years the country was in recession or depression from 1800 to 1907.
If you were to total the total number of years the country was in recession in the 1800's, you come up with 51.5 years, vs. only 29 years for the 1900's.
I don't think that's an apt comparison. Why would we regress to an old system instead of creating one which would take past mistakes into consideration?
Besides, under the Fed system we seem to have a major recession every ~7 years-2008, 2001, 1991-1994, 1982, 1975, etc. 2015 looks possible. The Federal Reserve is over 100 years old-the charter actually expired in 2013. That is too long for a private institution to control the currency of a nation as large as the US. It is time for a new economic age.
I'm neither a right-libertarian (although I am a left-libertarian) nor a conspiracy theorist, and I hate the Federal Reserve Banking System.
The Fed is a private, for-profit corporation. The twelve regional banks within the system are owned by a consortium of private banks. The decisions made by the governing board of The Fed are made for the sake of those private banking interests.
This private entity is given fiat over the nation's central banking structure, and by extension the entire economy of The United States. The Fed is given authority to make decisions which gravely impact our public and personal economic circumstances, yet it is only minimally responsible to any form of public oversight.
The control of a central banking system should be vested to an accountable public entity and serve the interests of a nation as a whole; as opposed to being controlled by, and serving the interests of, a plutocracy.
I'm neither a right-libertarian (although I am a left-libertarian) nor a conspiracy theorist, and I hate the Federal Reserve Banking System.
The Fed is a private, for-profit corporation. The twelve regional banks within the system are owned by a consortium of private banks. The decisions made by the governing board of The Fed are made for the sake of those private banking interests.
This private entity is given fiat over the nation's central banking structure, and by extension the entire economy of The United States. The Fed is given authority to make decisions which gravely impact our public and personal economic circumstances, yet it is only minimally responsible to any form of public oversight.
The control of a central banking system should be vested to an accountable public entity and serve the interests of a nation as a whole; as opposed to being controlled by, and serving the interests of, a plutocracy.
Yes. In effect, the Federal Reserve decided to tax interest income 100%.
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