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Wow, the government taking over a private company because they are not properly running their business and meeting the needs of consumers. Why that is crazy talk. Good thing we live in the Good Ol USA That crap would never happen here. I mean first of all the American people would...

People are stupid. Not saying this ball player is although obviously it sucks he got defrauded. But how is this any different from being diversified and having your money with CITI and BAMC or JPMorgan TD ameritrade, Etrade, Right now we are all fucked. You are only safe, because the...

I am quite familiar with the facts and figure. You made the claim of a recovery prior to WWII, please cite. Specifically which FDR programs were the economic magic dust we so desperately need was it the - National Recovery Administration -Works Progress Administration I recommend you...

Yep you can bet greenpan et al, will go to his grave with nightmares of LTCM. If we are going to get anything over with it should be the current government structure. From the Federal reserve, to term limits for senators to the IRS, Department of Energy, Interior, Agriculture, ATF, Education...

Shays' Rebellion was an armed uprising in Central and Western Massachusetts, (mainly Springfield) from 1786 to 1787. The rebels, led by Daniel Shays and known as Shaysites (Regulators), were mostly poor farmers angered by crushing debt and taxes. Failure to repay such debts often resulted in...

Really, are you talking about Nazi Germany because in the U.S there was no real recovery until after WWII. We entered a second recession in 1937. Just as we will probably have a second recession, if we are even successful in getting of this one from the sheer debt we face...

We are already there by proxy. Actually, the government should not be in the loan business. No where in the constitution did I read an amendment on guaranteed loans for every individual who needs them. Capital is property and property belongs to the individual (corporate or person) or so it...

Via Naked Capitalism Blog http://www.nakedcapitalism.com/2009/02/now-its-official-stress-test-results.html ================== Now consider this observation from a reader in comments: I have a personal anecdote about Citi and the difficulty of spotting how bad their loans actually are. I'm...

Agree free trade, as idealized in the last decade is a myth. We should strive for competitive trade and free trade where possible. However, arbitrarily limiting trade simply in defense of the industry Du Jour is plain stupidity. No doubt many of our trade partners in Asia are not playing...

You talk about stagflation as it was mythical problem in it of itself not a symptom. What was the symptom pointing too?? Again, I think the problem we faced have been faced before. We act as if this is unprecendeted, as if its the end of the world. It can be if we want it too, if thats the...

Wrong. The high unemployment is caused by the government trying to prevent any unemployment. Austrians argue that shit will happen, but if we get to the pain fast we will recover fast. Not withstanding the agressive pumping of the FED in 2001, the government did absolutely nothing except cut...

Try this Why the Great Depression Lasted So Long and Why Prosperity Resumed after the War —————— ♦ —————— ROBERT HIGGS http://www.independent.org/pdf/tir/tir_01_4_higgs.pdf

Walter thats a good post and well reasoned. However, the point is these process needs to happen. We cannot create an artificial backstop to home prices. The creation of these artificial backstop to avoid the pain of a correction is what gets us into these problems in the first place...

Who cares, unsecured debt. I say put 80% in high yield accounts for 1 year and take the free interest. 20% put into physical gold, perth mints. There are 3 scenarios 1) Everything works out Obama is a miracle worker and we are in full gear in 12 months. In which case there will be...

Don't lose faith the real conservatives in the legislature can't stand Christ. They will not let him get away with this and they have no problems taking him on. Crist is a douche bag no doubt it, there is still hope BHO names him to the cabinet.

Unfortunately like all things with this Administration Volcker is nothing but smoke and mirrors. Just like the failed appointment of Senator Gregg. --------------- ---------- http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aaLzJZKNcc6Y Feb. 5 (Bloomberg) -- Paul Volcker has...

It's not about the end of the world, Its about living in the USA. Going to bed and waking up and living in Venezuela. There is no mad max in caracas, people go to school, they work, go clubbing. But if your an American and in 5 years time your Country looks like Venezuela in policies and...

I think the error the rational among us keep making, is that we think there is actual debate about policy There is no more debate. For whatever reason here we are and the path forward is one of either accepting the next 4-8-12 years as a loyal sheeple-zen or evaluating your options as an...

Never fight a land war in Asia.

I think this is so remote its laughable. I am more worried about an extensive future of the 1970's on steriods or an Argentina 2001, or Venezuela. High Corruption, High Taxes, High Inflation, High Unemployment, High Poverty, Low Prospects, Oppressive Government reducing basic liberties...