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When the majority of people voted for Obama, they were "enlightened". When the majority claim that Keynesianism is a failed policy spreading collapse after collapse around the globe like a plague, they are somehow misinformed. Got it.
Still waiting for:
"...could you explain what Keynesian policies are being applied by which countries and how those policies are spreading collapse."
Great. More exciting blog-economics from whackjob internet wannabes. Not that the post you refer to was written by him (it was written by some speculating neophyte who can't spell Rahm Emanuel), but is Zero Hedge's central figure by any chance banned from holding any position in the brokerage industry as the result of his past record of insider trading? Just asking.
As for the piece-of-trash blog-post itself, how many times do slippery phrases like "we wondered" or "suspiciously convenient" or "we have seen no credible data" or "it seems almost beyond question" or "it takes only a cursory examination to suspect" appear within this piece? I just totally lost track. It sometimes amazes me that such low-grade poppycock can be taken seriously by even the most biased and gullible readers.
The facts and the truth will set you free. C'mon, saggy, throw off those partisan robes and look at the indisputable truth of what happened. You DO realize that Pinto, Fannie's former chief credit officer and the man stating the facts of Fannie's and Freddie's risk misrepresentations, has testified to Congress regarding the problems at FHA, as well, right?
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Yes, you've tried (multiple times) to misrepresent that quote from six months ago before. First of all, the question asked was what were the worst moments for Bernanke PERSONALLY, and second the answer that he gives is in chronological order, not order of severity. But hey, why bother with the truth of the matter when the spin can be made so much more exciting...
Not a misrepresentation... but spin it, saggy.
Seriously... it's time to drop your emotional attachment to the failed 'it's the government's role to give loans to people who otherwise would not qualify' ideology that brought this country's financial system to its knees.
Not according to the founding fathers. They were quite specific in deliberately excluding the masses from any sort of direct participation at all. They'd be upset to see that you get to vote for your own Senators these days...
Yes, of course this is true in your mind. That is why the preamble to the Constitution reads, "We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America....", rather than beginning "You, Liberals, the masters of the people................"
Saggy, it is quite obvious that you are either a fascist or a royalist, as you sincerely beleive that the people do not have the right, nor are capable, of making thier own personal and political decisions. Most citizens hold contempt, rather than praise, for the crooks in Washington who were elected to REPRESENT US in the republic, not RULE US, as you would like. Witness the low approval rates of the congress and senate.
Keep in mind, Saggy, that the first American Revolution occurred to throw off the yoke of a tyrant who also presumed the inherent priveledge to rule other people's lives. Free people do not tolerate tyrants forever. You, as a federal employee in the beltway, may find your head at the end of a pole someday, viewing the dirty and uneducated masses that you claim devine right over which to rule. Let me know how you like the view up there.
The facts and the truth will set you free. C'mon, saggy, throw off those partisan robes and look at the indisputable truth of what happened.
LOL. You've put up nothing but worthless junk. You can't stand on or behind any of it. Your indisputable truth is smoke and mirrors that are blown away by my barely lifting a finger.
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Originally Posted by InformedConsent
You DO realize that Pinto, Fannie's former chief credit officer and the man stating the facts of Fannie's and Freddie's risk misrepresentations, has testified to Congress regarding the problems at FHA, as well, right?
And who pays Pinto today? Would it be AEI??? Never a biased moment over there!!! And as far as testifying to Congress. Alberto Gonzalez did that. Nothing that he said was truthful either. The simple facts of the matter are that the GSE's played no significant role in bringing about the credit crisis. To the extent they were involved at all, it was in small ways and at the margins and long after the Wall Street boys and their unregulated private broker henchmen had let all of the horses out of the barn. While your laissez-faire friends sat by and did nothing but watch.
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Originally Posted by InformedConsent
Not a misrepresentation... but spin it, saggy.
It's NOTHING BUT an attempt at misrepresentation. You want people to conclude that "The financial crisis began with Fannie Mae and Freddie Mac" (you even freaking bolded it) means that it was the GSE's who somehow started this whole mess, when what Bernanke is actually saying is that they were the first ones to be acted upon as the giant rescue operation unfolded. Your implication is a total misdirection from what was intended. How much more of a misrepresentation can there be than to strip the actual meaning off of some words, and then try to attach some different meaning that was never intended by the speaker? Guilty as charged. Next case.
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Originally Posted by InformedConsent
Seriously... it's time to drop your emotional attachment to the failed 'it's the government's role to give loans to people who otherwise would not qualify' ideology that brought this country's financial system to its knees.
LOL. The GSE's did not give loans to anybody. Neither were there ever any laws or government regulations that required any lender at any time to lend to any person who was not qualified. Seriously...you are way off the mark. You have no idea of what you are talking about.
Keynesian Economics reminds me of the ramblings of some poor schizophrenic. Once you decipher it, it adds up to NOTHING.
Our kids were using 'Keynesian' as an adjective...synonymous with wack, meshugge, farblondjet, dumb....and as a noun, synonymous with luftmensch, airhead, space cadet.... back when they were in gradeschool. In fact, that was pretty much standard parlance among the kids in our circle.
There was a conversation, once (in carpool, reported to me by a very-impressed mom), and someone was saying someone was a Baptist, they, themselves were Presbyterians, so-&-so were 'Reform'... "and what are YOU"....to my seven year old daughter, who without missing a beat answered, "We're old-fashioned Malthusian!"
The facts and the truth will set you free. C'mon, saggy, throw off those partisan robes and look at the indisputable truth of what happened. You DO realize that Pinto, Fannie's former chief credit officer and the man stating the facts of Fannie's and Freddie's risk misrepresentations, has testified to Congress regarding the problems at FHA, as well, right?
Not a misrepresentation... but spin it, saggy.
Seriously... it's time to drop your emotional attachment to the failed 'it's the government's role to give loans to people who otherwise would not qualify' ideology that brought this country's financial system to its knees.
Guns kill people, people don't kill people.
While it's true gov't politics of the month did impose itself on FHA policy, you'd have to be willing to line up every single one of those people pressuring and legislating. Systematically parse out who was selling a pig in a poke, who got pressured into buying a pig in a poke, and who authored/ underwrote a pig in a poke. Then waterboard them until you got their intentions out of them, OR watch how their feet went after the fact. A key player selling legislation turned in his time card as elected official and went to work directly for Goldman Sachs.
Retrospect-- who among these people intended to see failure? Not just of a single govt program they were ideologically offended by, but global failure? Some mistakes were just that, but other reasons were greed, and malicious tinkering with the brakes of the car. Old brand of republican was committed to stewardship, to make sacrifices for the greater good. This new breed is quite the opposite, and unfit for office. Would libertarian party be so desperate for power to influence the system that they'd pull the lynch pin keeping the whole works in motion?
Countrywide, best I can tell from outward appearances and data showing up in media was hell bent on competing with a gov't program. R's and libertarians at the time were egging them on, attributing false profits & bogus economic health to hybrid Republicans/ Libertarian policy. Low balling sales tactics.... walmart vs kmart, hollywood video vs blockbuster video... selling below cost has consequences that hurt everyone in the long run. Capitalism has no moral compass and will consume everything in it's path, including itself/ basis for it's existence, if not regulated in proper measure to channel it's force.
SO... now that we find out all this recorded growth/ profit/ economic health was a pig in a poke, Republicans and Libertarians don't want the credit anymore? Blame carter for the decade that preceded him? Blame Clinton for the deregulation sold by R's? Blame Obama for the decade that preceded him? The sun rises and falls on Reagan, daddy & jr Bush. Where would I be if not for their magnanimous trickle down wealth distribution of whatever hits the floor is yours? Just listen to these threads!!! Give me a break!!!
So indeed enough with the partisan nonsense. Enough with holding up a single tree and claiming it's the forest. Suppressing evidence is not the American way, but it's become a popular habit among those who desperately want to believe in kitch answers matching their intellectual capacity.
LOL. You've put up nothing but worthless junk. You can't stand on or behind any of it. Your indisputable truth is smoke and mirrors that are blown away by my barely lifting a finger.
That would be you, saggy. I've posted facts, quotes, and names of people who are directly involved, and who have testified before Congress.
You, on the other hand... have posted nothing more than underinformed opinion and insults.
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It's NOTHING BUT an attempt at misrepresentation. You want people to conclude that "The financial crisis began with Fannie Mae and Freddie Mac" (you even freaking bolded it) means that it was the GSE's who somehow started this whole mess, when what Bernanke is actually saying is that they were the first ones to be acted upon as the giant rescue operation unfolded. Your implication is a total misdirection from what was intended.
You can try to spin, but your 'story' doesn't match the facts.
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LOL. The GSE's did not give loans to anybody. Neither were there ever any laws or government regulations that required any lender at any time to lend to any person who was not qualified. Seriously...you are way off the mark. You have no idea of what you are talking about.
LOL. I never said they did. What they DID do was buy the loans the government forced lenders to make via the CRA quotas, etc.
Well, there and in the Constitution. The actors established by the founders to guide this republic are tiered in their levels of protection from the vagaries and influences of everyman. The House is the least well protected. They are to be the raucous chamber, the one in which passions are given an ear and either taken up or rejected. Still, they face election only every two years, so they have slack to play with in the chain. The President is given four years. That's a long time. It is hoped that he will have the courage to put the interests of the republic before the transient and misguided pleadings of an easily swayed people. The Senate is to be the slower and more deliberative chamber. Those there are given a six year term, a period during which one might go out of and then return to public favor many times. By the time we reach the federal judiciary, we have lifetime terms that put judges and justices all but out of the reach of the masses. Then we must look also at who "we, the people" really were to begin with. At the time of the Declaration of Independence, some two-thirds of the people living in this country had arrived under some condition of indenture. It was not to these that the franchise was extended. That was restricted to white, male, property owners. In other words, the elite. That's how it went down in the early days of the nation.
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Originally Posted by hawkeye2009
Saggy, it is quite obvious that you are either a fascist or a royalist, as you sincerely beleive that the people do not have the right, nor are capable, of making thier own personal and political decisions.
Actually, I said they weren't competent to render judgment on the merits of Keynesian economics.
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Originally Posted by hawkeye2009
Keep in mind, Saggy, that the first American Revolution occurred to throw off the yoke of a tyrant who also presumed the inherent priveledge to rule other people's lives. Free people do not tolerate tyrants forever. You, as a federal employee in the beltway, may find your head at the end of a pole someday, viewing the dirty and uneducated masses that you claim devine right over which to rule. Let me know how you like the view up there.
Yes, this is the physician talking. Your words make me think of so many of the physicians that I know.
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