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Anything is possible... However, GNMA is explicitly guaranteed by the US govt.

Huh? I didn't use the term "popular". At any rate, I am pretty sure you see my point. If you had magical economic policies that could have prevented the Great Depression and, by extension, the Great War that followed, would you avoid them because they interfere with the "creative...

Who was WWII very popular with? Nobody that I have ever known who fought and certainly none of their children. Have you ever visited Omaha/Juno/Utah Beaches? It's a worthwhile experience. I highly recommend it.

I understand... Your view is, basically, that people who choose totalitarian regimes get precisely what they have asked for and what they deserve. However, what about the thousands/millions of people in other countries who die trying to save their people from the totalitarian regimes that...

OKI, so just to claify, you believe that the Great Depression (and other such periods of severe economic hardship) are there for some sort of reason. What happens to different people as a result of these circumstances is, essentially, a result of their collective conscious choices. Thus they...

Net loss to the system as a whole... There are some arguments in favor of some degree of protectionism, but, overall, it's an approach that's not really consistent with a capitalist, free-mkt view of the world. At any rate, I am not sure why we're discussing these issues here, as this...

As I said, it's impossible to answer your question w/o making a distinction between the mkt-making and prop activities. Believe it or not, there are quite a lot of good mkt-makers out there who don't do prop, especially nowadays. Obviously, it's also true the other way round. And you can't...

Well, according to the theory, the tariffs and trade barriers you described would have resulted in a net loss, no matter how you slice it. There are other issues, as well. However, that was not really the point I was trying to make.

Yes, but wasn't Germany a capitalist society at the time? And they certainly experienced the hosing, didn't they?

Mmmkay... This is now officially veering into seriously surreal territory.

There's a few threads on this subject already...

Not at all sure how you figure that, 'cause I can't figure out the chronology. However, it doesn't really matter. [B] Right, so are you suggesting that European totalitarian fascism can be attributed, at least partly, to the Great Depression?

Yep, #1 is the what I was referring to when I mentioned externally (typo in the previous post) held debt. One of the issues that a low level of externally held debt prevents is the ratings downgrades-driven negative feedback loop that we have observed in the European sovereigns, like Italy.

Ah, this makes a lot of sense... You're familiar, I trust, with Einstein's definition of insanity?

Well, Stalin's ascent doesn't really have anything to do with the Great Depression. Neither does Mao's. I was talking about Germany, primarily, and Europe.

I second that...

I have as well...

Huh? Who "chose" communism?

Hahaha, that is pretty awesome... Does Swaziland issue inflation-linked debt?

Priceless, absolutely priceless...