Be afraid, very afraid
- Thread starter nitro
- Start date
that also.
fighting the excesses of a business cycle always ends in a worst situation. it is like taking medicine that covers up the symptoms of the disease but doesn't allow the body to heal itself. if the excesses of the business cycle are not washed out/unwound of the system because of feel good actions of the government i.e. money printing the next crisis will be even worse until eventually the currency collapses.
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re: the end has come
"Fortunately, in the end, it cost the taxpayers nothing"
this is a complete fabrication of reality. the end has not been reached. the collateral damage of distorting markets through government money printing and the government choosing winners and losers in the market place have not yet been widely recognized. most certainly it has not been recognized by those with a leftist bent whose first reaction is that government intervention can either save the day or mitigate the pain of excessive financial speculation.
in the end the cost to the taxpayer will be astronomical in terms of misallocation and waste of economic resources.
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http://video.cnbc.com/gallery/?video=3000386589
These people are not deep thinkers. There are ONLY two options:
1) Tie a part of what you pay for your education to the sort of jobs you are able to secure in the future. So you pay a small fee up front to enter into an educational program at a school, and then when you get employed, you pay based according to your means to be able to pay it back, at some very reasonable interest rate, adjusted for inflation [probably with some sort of yearly cap %]. This means schools also have skin in the game in the trinity of student/educator/employer. Schools will then want the ability to fire you from educating you based on some objective criteria, which should also be the case. It also means that "Art History" programs are not likely to survive, at least tied to this model[ not that Art Historians aren't really smart - just that they often don't get high paying jobs, or better said, jobs tied to their education]
2) Simply make education very close to being free the way they do in almost all of the rest of the world. That is the Social Contract that a state has with its people. Since education is a for profit private sector endeavor in the US, this is not likely to happen.
There is no question that bankruptcy should dissolve a person from all debt. Will people abuse it? For sure, just like Donald Trump does repeatedly:
https://www.legalzoom.com/articles/...dly-file-for-bankruptcy-and-still-stay-on-top
Please don't argue that corporations are not people. That will only ensnare you into something worse.
These people are not deep thinkers. There are ONLY two options:
1) Tie a part of what you pay for your education to the sort of jobs you are able to secure in the future. So you pay a small fee up front to enter into an educational program at a school, and then when you get employed, you pay based according to your means to be able to pay it back, at some very reasonable interest rate, adjusted for inflation [probably with some sort of yearly cap %]. This means schools also have skin in the game in the trinity of student/educator/employer. Schools will then want the ability to fire you from educating you based on some objective criteria, which should also be the case. It also means that "Art History" programs are not likely to survive, at least tied to this model[ not that Art Historians aren't really smart - just that they often don't get high paying jobs, or better said, jobs tied to their education]
2) Simply make education very close to being free the way they do in almost all of the rest of the world. That is the Social Contract that a state has with its people. Since education is a for profit private sector endeavor in the US, this is not likely to happen.
There is no question that bankruptcy should dissolve a person from all debt. Will people abuse it? For sure, just like Donald Trump does repeatedly:
https://www.legalzoom.com/articles/...dly-file-for-bankruptcy-and-still-stay-on-top
Please don't argue that corporations are not people. That will only ensnare you into something worse.
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$1.2 trillion student loan defaults are one of the next waves of bubbles "about" to implode:
http://libertystreeteconomics.newyo...lts_through_a_larger_window.html#.VXXR160Vikr
http://libertystreeteconomics.newyo...lts_through_a_larger_window.html#.VXXR160Vikr
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hahaha
its funny to watch these clips because we all know right now as Im writing this the next crisis is coming and no matter how much Q&A like the one here that Im watching between giethner and warren and how much these policy makers and central bankers and fed are grilled this will never end, there is nothing that can fix this crisis and the next collapse thats coming....cant wait to see the next Q&A with yellen and friends on capitol hill....
thats what I have been saying for a really, really, really long long time.....they didn't allow the cycle to run its course.... with the fed coming in pumping trillions of dollars, creating these worthless programs to bailout failing banks, to bailout the housing market and the economy has created this false fake worthless wealth effect the last 7 years, the next crisis coming is the fed, the fed and the central banks have created an illusion of prosperity in every economy around the world... the fed has done more harm than good for this economy, the free markets should have fixed the last crisis but instead we got QE and ZERO interest rates that have only made the next crisis even worse than the first. Like you said it had to be washed out, they didn't allow that to happen and thats why there will be greater consequences when the next crisis comes....
I know you have. But if you have not learned anything since 2007 after seeing all of this, you are not moving forward. Look carefully at all the videos I posted, particularly this video. Listen to the story she tells of Hillary Clinton.
This is a US Senator exaspirated by the very same things, and even she feels powerless by the stubborn even self-inflicted wounds that people will go to in order to defend clearly false ideologies. It is almost as if, "I don't care if I win, I care if you lose"
it is all part of turning america into a land of serfs dependent on the government and their cronies for your existense and ridding the country of the idea that we are a people "living in the land of the free and home of the brave. "the administration doesn't give a damn about the constitution. the way to do it is by destroying the middle class. you want to remake society pauperize the middle class.
