No free lunch. Whether the Fed or Treasury provides it.
Warren Buffett Says America Is "So Rich" It Can Afford Single Payer
- Thread starter Banjo
- Start date
The one's you did, I already answered and you conveniently ignored what you couldn't counterargue.
which happened after my last post: You were not able to say anything against the fact that your ideas need to force others to go against their will to work and my ideas are compatible with anything, including yours, as long as you are able to convince a certain number of persons to voluntarily join your ideas and the ones who don't want to be a part of it, simply don't and live their lives the way they want without being forced to do nothing.
Your answer to that was just a meaningless opinion: that I'm being silly, which shows your lack of arguments against the reality of what I said.
So, like the other guy, there is no point in argueing with people who insist in defending their ideas with mere personal opinions not relating to the subject or other ways to disguise the fact that they can't sustain their ideas through logic, facts and reason. It's just a waste of my time, so I'm done with you too. Bye.
And this is from the guy whose last answer was: "Seriously STFU!"
My remarks, I had hoped, were more to the matter of who is the cart and who is the horse. The Congress is clearly the horse; not the Treasury and not the Fed.
Then you are ignoring recent history.
According to the BIS Canada is 4th worst - when it comes to debt.
Or were you referring to how they slice their bacon.
If you are referring to the Fed's role in the Financial crisis, then I will disagree. Even here the Horse was Congress, i.e., it was Congress that passed the Gramm- Leach-Bliley "Financial Services Modernization Act." Yes the fed under a different chair could have nipped the nascent crisis in the bud, but without Gramm-Leach-Bliley there may have been no crisis. At worst the crisis would have involved far fewer institutions.
Remarks by Governor Mark W. Olson
Before the American Law Institute and American Bar Association, Washington, D.C.
February 8, 2002
Implementing the Gramm-Leach-Bliley Act: Two Years Later
"However circuitous the route the actions by the Federal Reserve and the Comptroller of the Currency helped reduce the final restrictions, other than the ones on insurance underwriting, that had been in the way of full financial-service integration. Thus, by the time the Gramm-Leach-Bliley Act passed through the Congress, in the summer and fall of 1999, it was long overdue."
https://www.federalreserve.gov/boarddocs/speeches/2002/20020208/default.htm
Note the date of this speech!