Pimco’s Bill Gross: USA is Giant ‘Ponzi’ Scheme

[Scataphagos]

Quote from bearice:

Parent Offers Body Parts To Pay Off Child's $200,000 Student Loans

An anonymous parent in the Boston area recently posted an ad on Craigslist offering to sell their body parts to pay off their child's student loans.

The ad detailed a person 5 feet 10 inches tall, weighing 200 pounds with "organs in working order." The writer offered blood, plasma, kidneys in place of the $200,000 in education bills.

"Use my body for anything legal, or medically experimental," the advert said. "Simply pay off all of my children's student loans ($200,000) and you can use me anyway you need."

http://www.huffingtonpost.com/2011/02/25/craigslist-parent-body-parts_n_828511.html

Noble, but sad.

 

[schizo]

Quote from sprstpd:

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.

Greenspan is a nut and Bernanke is, well, a nutty professor.

They're both stooges of corporate America. They're always behind the curve. They both like to talk a lot but when it comes down to actually taking proactive measures, they're both dumbass to the n-th degree.

 

[sprstpd]

Quote from olias:

I totally disagree, but perhaps you can turn me on to some information that would change my mind. ...I doubt it

For example, this whole notion that without the banks, the economy will freeze up is just plain bullcrap. First of all, if all the stupid idiotic moronic banks were allowed to fail, then new banks would RAPIDLY replace them. It does not take much to start a bank and there would be people salivating to enter the vacuum. Second of all, since the Federal Reserve plays loose with its own rules of conduct (buying up asset backed securities for example), how about they allow companies that need short term financing to come directly to them instead of to the stupidly moronic banks? So instead of propping up the idiotic banks that deserve to die, they instead keep the credit markets alive by giving short term loans to Chipotle Mexican Grill or Home Depot. Then the stupid ass banks die and this country becomes stronger and greater. What we have now is just pathetic and is guaranteed to limp along for many many years, or maybe even implode with much greater force than 2007-2008.

 

[Martinghoul]

Quote from sprstpd:
For example, this whole notion that without the banks, the economy will freeze up is just plain bullcrap. First of all, if all the stupid idiotic moronic banks were allowed to fail, then new banks would RAPIDLY replace them. It does not take much to start a bank and there would be people salivating to enter the vacuum. Second of all, since the Federal Reserve plays loose with its own rules of conduct (buying up asset backed securities for example), how about they allow companies that need short term financing to come directly to them instead of to the stupidly moronic banks? So instead of propping up the idiotic banks that deserve to die, they instead keep the credit markets alive by giving short term loans to Chipotle Mexican Grill or Home Depot. Then the stupid ass banks die and this country becomes stronger and greater. What we have now is just pathetic and is guaranteed to limp along for many many years, or maybe even implode with much greater force than 2007-2008.

This is incorrect, in a whole variety of ways...

 

[schizo]

Quote from Martinghoul:

This is incorrect, in a whole variety of ways...

Be that as it may, he does have a point. The notion of "too big to fail" should not be used as a linchpin. Community banks should assume greater role in the future. Only way this can happen is to dissolve Federal Reserve, which is more or less made up of Wall Street firms.

 

[olias]

Quote from sprstpd:

For example, this whole notion that without the banks, the economy will freeze up is just plain bullcrap. First of all, if all the stupid idiotic moronic banks were allowed to fail, then new banks would RAPIDLY replace them. It does not take much to start a bank and there would be people salivating to enter the vacuum. Second of all, since the Federal Reserve plays loose with its own rules of conduct (buying up asset backed securities for example), how about they allow companies that need short term financing to come directly to them instead of to the stupidly moronic banks? So instead of propping up the idiotic banks that deserve to die, they instead keep the credit markets alive by giving short term loans to Chipotle Mexican Grill or Home Depot. Then the stupid ass banks die and this country becomes stronger and greater. What we have now is just pathetic and is guaranteed to limp along for many many years, or maybe even implode with much greater force than 2007-2008.

You have no idea what you are talking about

 

[olias]

anybody seen the 'Inside Job' documentary yet? I think we should all see it

 

[sprstpd]

Quote from Martinghoul:

This is incorrect, in a whole variety of ways...

Wow your argument is so succinct that it is almost like it has no substance at all!

 

[sprstpd]

Quote from olias:

You have no idea what you are talking about

And I suppose you do. Nice counterpoint!

 

[schizo]

Quote from sprstpd:

Wow your argument is so succinct that it is almost like it has no substance at all!

Well, if you watched what happened to the world financial markets after Lehman went R.I.P, you would also know that no answer is required.