Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It's interesting how people in the 90's and early 2000's who called for tighter regulation of financial markets (and the forbidding of certain derivative instruments) were actually called "socialists" at the time.
When, in fact, they were desperately trying to stop capitalism from shooting itself in the face.
Derivates work well and serve a great purpose as long as the underlying assumptions aren't faulty. It was the government who destroyed the underlying stability by enabling trillions of dollars in bad loans to unqualified people. It all goes back to that.
I wish all you liberals calling for socialism and decrying capitalism would get to live in the culmination of your destructive ideology. There is such a place. It's 90 miles south of Key West. Cuba is your ultimate utopian socialist hellhole. And when you go there, you swear by it's technology it's the 1950s
It's not like we don't know what works. Ask yourselves how we got to be an economic powerhouse in the late 1990s. It was the conservative model. Tax cuts and spending cuts. Businesses were off-the-charts booming. There wasn't any phony bailouts or socialism. That doesn't build wealth or help the economy. Only private investment and private enterprise do that.
I wish all you liberals calling for socialism and decrying capitalism would get to live in the culmination of your destructive ideology. There is such a place. It's 90 miles south of Key West. Cuba is your ultimate utopian socialist hellhole. And when you go there, you swear by it's technology it's the 1950s
It's not like we don't know what works. Ask yourselves how we got to be an economic powerhouse in the late 1990s. It was the conservative model. Tax cuts and spending cuts. Businesses were off-the-charts booming. There wasn't any phony bailouts or socialism. That doesn't build wealth or help the economy. Only private investment and private enterprise do that.
Exactly what experience do you base your idea that socialism is a destructive ideology?
Exactly what experience do you base your idea that socialism is a destructive ideology?
Just take a look at how many folks are risking their lives on homemade life rafts trying to escape Cuba. Then compare that figure with the number of those trying to sneak their way INTO that socialist hellhole.
And the good ones deserve the compensation they get, or they wouldn't be awarded it.
Oh, come on... there's no free market in executive compensation!
Those rates are set by compensation subcommittees of corporate boards. It's a very clubby, quid pro quo atmosphere.
The US Congress held some very interesting hearings back in December 2007 about conflicts of interest involving "executive pay and compensation consultants:"
Report on Conflicts of Interest Among Compensation Consultants (http://oversight.house.gov/story.asp?id=1647 - broken link)
It makes for disturbing reading for fans of free markets, since it seems that we don't have a free market in executive compensation - we have a self-serving oligopoly.
Just take a look at how many folks are risking their lives on homemade life rafts trying to escape Cuba. Then compare that figure with the number of those trying to sneak their way INTO that socialist hellhole.
Are you seriously equating a Dictatorship like Cuba to Socialist countries like France, UK, Australia, Canada, Germany etc etc.
I have seen Socialism and Capitalism work side by side...it works well.
At the moment in the UK the Housing prices have stabalised and are beginning to rise.
A close friend of mine is now back in full time employment again after several months out of work.
If your experience of Socialism is Cuba then is your experience of fine dining....McDonalds?
Oh, come on... there's no free market in executive compensation!
Those rates are set by compensation subcommittees of corporate boards. It's a very clubby, quid pro quo atmosphere.
The US Congress held some very interesting hearings back in December 2007 about conflicts of interest involving "executive pay and compensation consultants:"
Report on Conflicts of Interest Among Compensation Consultants (http://oversight.house.gov/story.asp?id=1647 - broken link)
It makes for disturbing reading for fans of free markets, since it seems that we don't have a free market in executive compensation - we have a self-serving oligopoly.
Not to mention that the health care system in the US right now is anything but a free market:
Derivates work well and serve a great purpose as long as the underlying assumptions aren't faulty. It was the government who destroyed the underlying stability
What underlying stability? Derivatives are often nothing more than bets - bets for or against default, bets against other people's ability to do a particular thing by a particular point in time, and so on. It's inherently unstable when the value of those instruments is allowed to become such a gigantic percentage of the actual underlying assets which theoretically back them.
Ask yourself why AIG - a big player in what turned out to be junk instruments - was regulated by the obscure and understaffed "Office of Thrift Supervision," rather than the SEC.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
