The past 10 days will be remembered as the time the U.S. government discarded a half-century of rules to save American financial capitalism from collapse.
On the Richter scale of government activism, the government's recent actions don't (yet) register at FDR levels. They are shrouded in technicalities and buried in a pile of new acronyms...[more]
I do agree that there seems to be a too heavy handed approach in dealing with this. Sometimes it is better a lesson is learned than playing nanny. But as I disagree with how the Bush administration is handling this mess, I also do not agree with what the Democratic candidates are proposing, even more heavy hands.
Perhaps Chris you would be better off moving to Canada or Europe. If you don't like the country....Leave.
I love this country; I just hate the way right wing assholes are wrecking it...
So should government be using a more heavy-handed approach? This approach is not very "conservative." Although this administration has come up short of FDR's approach.
Shock: Maybe Bush isn't too conservative!!!
There's no conservatism in foxholes.
Even one of the main brains behind the ideology of conservatism - William F Buckley - came out against Iraq eventually. I have heard the argument that Reagan would have handled this way differently.
But back on subject, should the government resume FDR-style controls?
Keep in mind that the Depression never ended until WW2.
Just keep on goose-stepping, you little bitch
Why the language? I believe that cassalovem is asking some good questions and makes some valid points. What is your opinion on the article? Instead of attacking, make a point.
Brassmonkey, where did I say I don't like the country? Why such a response?
That type of language is totally uncalled for.
Could we have a 'suspension' here, please ?
And make him go stand in the corner.
My response was to Chris's post, not your response.
My reponse was directed at brassmonkey, not cassalovem
I remember using the same line (leaving the country and going to Canada above) on conservatives from Nov. 1992-Dec. 2000 'cause they seemed really upset, among other things in that time span, about crap like Whitewater, who 'murdered' Vince Foster, overnight stays in the Lincoln Bedroom, gays in the military, and lying under oath about consensual sex.
My memory is they didn't take it so well.
And while you're at it, do everyone a favor and slam El Minutos fingers in a drawer - we could use a rest.
The bail out is the least of all evils. The real problem is that the behavior is not being corrected or punished.
What is it about life that upsets you so ?
I am a new man at the old address.
I have been reformed.
I attended a weekend seminar at my Re-Education Center in Orlando and came away a new man.
Get used to it.
This is just bailing out certain investment banks on the taxpayer's dime (well, billions of dollars). The general public is far too ignorant to understand that, and most of those who do understand are only thinking of their stock portfolios first.
Fortunately for my Schadenfreude, no bailout is going to avert the Depression that is imminent. Maddie is right. There will be no correction or punishment, just a covering of bets for a select few, and then the economy will experience a general collapse. Places like Toledo and Detroit will be leaders, showing how an urban area can collapse and remain inhabited. The question is ... how much shooting will happen during that phase?
By December, all this bailout crap will stop, since the election will be over and yet another milestone in severity will be reached. As 2008 will be worse than 2007, 2009 will be a lot worse than 2008. As far as I'm concerned, it's 1929 right now, and we've 1933-6 to look forward to. House prices will continue to collapse and stagnate until at least 2014. Most of the necessary foreclosures will happen by 2012.
But the quest for ever increasing profits, surely is a mechanism of captialism, or the acquisition of capital to increase one's wealth and holdings, while the quest for more and more, continues.
The house of cards, collapsed once again and the cycle will continue on and on and on.
anymore. This is like criticizing the Captain of the Titanic, as it SANK, that the rooms weren't quite warm enough to suit. I'm not sure he'd have cared a whole lot about it and I'm not sure that the Feds give a tinkers damn right now whether or not people think they're playing by the rules.
It appears to me that they're trying to stave off a full collapse of the banking industry altogether at this point in time. Our currency is no longer backed by the gold standard - only by people's faith in it.
chris, I think the saying is, "There aren't any athiests in foxholes". (I disagree, but I digress....)
Yes, I was making a pun. The conservative days of Friedman are ending. In a crises, it appears we again look to Keynes