Ponzi schemes always work well in the beginning, its when they blow up that it hurts.
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Pimcoâs Bill Gross: USA is Giant âPonziâ Scheme
- Thread starter bearice
- Start date
Ponzi schemes always work well in the beginning, its when they blow up that it hurts.
Quote from endsongs:
The purpose of a recession or even a "Great Depression" is to clean out the weak parts of the economy so the stronger parts can take over. This process has to take place. The only thing the gov't and Fed can do is delay this by throwing good money after bad. Eventually, the weak parts of the economy will collapse. The only thing the gov't and Fed would have accomplished is to make it so that when the weak parts of the economy collapse, it will have many times more negative impact than if they had let them wither in 2007 through early 2009.
Have been saying that for years about the reasoning behind why recessions are needed in economical cycles, yet hardly occur because the fed is there to stimulate the economy out of such a thing to happen. Everyone thinks what the fed is doing is the right thing, its not. All they are doing is delaying the bigger problems that are due to touch down on the economy in the years to come. Everyone is cheering the stimulus and easy money bubble policies, they are cheering the QE1 and QE2 and soon to be QE3 and QE4 but all that is going to do is cause more economical problems in years to come.
Quote from endsongs:
How do you plan to close the $1.535T of the deficit not related to Soc sec? You didn't address this issue. And don't suggest raiding social security for trillions more.
Cut defense spending. No one wants to say it for some reason. We have all these new fucking robots that will have decreased cost with volume so why pay 200k+ to deploy a solider?
Madoff: "Whole government is a Ponzi Scheme."
NEW YORK (AP) -- Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.
"The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators.
Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information.
He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme."
http://finance.yahoo.com/news/Madoff-to-NY-magazine-apf-2369562769.html?x=0&.v=2
NEW YORK (AP) -- Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.
"The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators.
Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information.
He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme."
http://finance.yahoo.com/news/Madoff-to-NY-magazine-apf-2369562769.html?x=0&.v=2
Quote from intradaybill:
Buying bonds is a perfectly acceptable method of stimulating an economy that is in danger of falling into deflationary death spiral and this is what the FED has done carefully and sensibly. Bernanke is the best central banker the US ever had.
Bernanke is a complete and utter failure. In the history books, he will go down as even more destructive to our nation than Greenspan and that is saying something.