Author Topic: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankrupt  (Read 606 times)

Mr. O

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That really is fuckin my life up now...  no more money to earn....
fuckin' I don't know what to do now..
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M Dogg™

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gold went up 9% this week.

gold is always solid when the economy is doing bad.
 

Matty

yup. i'm trying to get my folks to buy some more gold coins. good insurance against possibilities if the stock market etc gets worse...

Dubbz

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Time to clear out Costco then down to the store to get some more ammo for the .45. It's about to be I Am Legend status in this piece.
 

jeromechickenbone

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #19 on: September 18, 2008, 01:57:24 PM »
gold went up 9% this week.

gold is always solid when the economy is doing bad.

gold is always solid when the economy is doing bad. you have a fiat currency.

I've been telling peeps to buy gold over a year and a half ago.
 

M Dogg™

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #20 on: September 18, 2008, 05:39:01 PM »
gold went up 9% this week.

gold is always solid when the economy is doing bad.

gold is always solid when the economy is doing bad. you have a fiat currency.

I've been telling peeps to buy gold over a year and a half ago.


I have heard liberals say that too for the last few years.
 

Machiavelli

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #21 on: September 18, 2008, 06:07:29 PM »
i think its about time to be looking at Ron Pauls economic policies.

less regulation got us in this mess to begin with. Want great Ron Paul type presidents, look at the 1920's. That ended in a Depression.


Depression was due to a lot of reasons but biggest reason was the creation of the federal reserve
 

jeromechickenbone

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #22 on: September 18, 2008, 08:01:28 PM »
gold went up 9% this week.

gold is always solid when the economy is doing bad.

gold is always solid when the economy is doing bad. you have a fiat currency.

I've been telling peeps to buy gold over a year and a half ago.


I have heard liberals say that too for the last few years.

That's why I can't fucking stand talking to you about this shit.  You label everything w/ Dems and Republicans like somehow one behaves differently than the other.  Quit fucking taking someones side because they have a fucking (D) next to their name.  It's close minded and ignorant.
 

M Dogg™

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #23 on: September 18, 2008, 08:37:00 PM »
gold went up 9% this week.

gold is always solid when the economy is doing bad.

gold is always solid when the economy is doing bad. you have a fiat currency.

I've been telling peeps to buy gold over a year and a half ago.


I have heard liberals say that too for the last few years.

That's why I can't fucking stand talking to you about this shit.  You label everything w/ Dems and Republicans like somehow one behaves differently than the other.  Quit fucking taking someones side because they have a fucking (D) next to their name.  It's close minded and ignorant.

see... but you take such a hard stance one way that it's like extreme gibberish. It's like me saying... fuck raising taxes and adding programs... lets just go all out Communist. There is no middle with you. There are points were we'll agree... but for the most part I'm a raise the rich tax and spend money on the poor kind of guy. I think that we should regulate banks, have anti-trust laws, and that Social Security is the greatest thing to happen since Abe Lincoln was elected president. Prior to the Industrial revolution, then yes I'd say a more free-market society would be great. Merchants were the backbone of the economy, they go to the market sell their goods, people trade, sell and everything runs well because others were farmers and they made money and we could supply ourselves. With the Industrial Revolution we were introduced to corporations, abuse of child labor, people losing body parts in huge machines, and Teddy Roosevelt fighting for the common people. Times changed, they changed prior to the Great Depression, and since the Great Depression it has changed greatly since.

There are some historians that do blame the Depression on the creation of the federal reserve, but there were so many other factors. Europes recovery from WWI, Germany was experience so much inflation that people were really burning money to stay warm, the harsh punishment to the losers of WWI was the backbone to people like Mussolini and Hitler raising to power, and besides that we had a National Bank since 1863 to help fund the Civil War and our economy was doing well since then. So much more was going on, Americans were introduced to credit and we basically fucked ourselves over, like we did today. The sad part was starting with Bill Clinton, we had regulations to prevent this, but they were taken out to boosted the economy, which in turn allowed banks to put out loans people could not afford. Also, I will agree that some non profit programs hurt us as well, as they gave false hope to people who should not buy a house. There is so much more to economics now, that it's not as simple as saying, take this out.

 

jeromechickenbone

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #24 on: September 18, 2008, 09:30:13 PM »
Educate yourselves.


Part 1
<a href="http://www.youtube.com/v/ZvcgGp5mz_E" target="_blank" class="new_win">http://www.youtube.com/v/ZvcgGp5mz_E</a>
Part 2
<a href="http://www.youtube.com/v/O_RFIXcj4ik" target="_blank" class="new_win">http://www.youtube.com/v/O_RFIXcj4ik</a>
 

virtuoso

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Re: BREAKING NEWS: Wall Street down in triple digits as Lehman Bros. goes bankru
« Reply #25 on: September 20, 2008, 08:34:53 AM »

There is one positive about all of this and that is slowly the veil is being lifted on the men who really control the world and just how their scam works. I am ruing ignoring the advice I was given to buy gold when it was $200 though.
 

Don Jacob

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the fed is a privately owned corporation set up by prominent NY bankers of the time like JP Morgan.  To this day i think 5 or so private banks benefit from this central banking sytem from association
 or something.

the way the fed works is that it loans out money ON interest that has to be paid back. however here's the catch, they're the ones who control the money supply, so they control inflation, and create an endless cycle of debt. ain't that fucked up? anyways mdogg, listen to virtuoso, he knows what he's talking about.


btw, props on the finanace major, i'm a business major and we have to take a couple of core finance classes and i hAAAAAAAAAAAAAAAAAAAAAAAted those with a peppered passion.
« Last Edit: September 24, 2008, 05:48:02 PM by Don Jacob »


R.I.P.  To my Queen and Princess 07-05-09
 

Elevz

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Is anyone hoping the entire US economy collapses, and capitalism fails?

Perhaps the economy should collapse when it's malfunctioning, but what difference would it make now? It's pretty obvious that people currently aren't in agreement about the causes of this crisis, so what makes you assume things would change for the better after a total collapse?


America is flawed because they simply over consume what they can't afford.

That much is true. Now ask yourself, is that to be blamed on the workings of capitalism, or on a government and federal system which keeps trying to please everyone regardless of whether they have earned it? In a truly free capitalist market, no bank would get the idea of handing out loans that probably won't be paid back. If you want to make money, invest it so that the final outcome shows a maximized surplus. How is handing out irresponsible loans going to achieve that? How are people who spend more than they're worth, production wise, going to do any good for an economy? That's where the corruption starts: right where federal organizations start to mess with the economy.

In a real capitalist market, banks would disappear if they went bankrupt because of their poor policies. People would lose their money if they handed it to someone who spends it on poor investments. That's what should happen to malfunctioning banks and their customers. It's everyone's personal responsibility to look after their cash, and not hand it to some retards who'll blow it all on loans for people who'll never be able to pay back. Problem is that there's too many government policies controlling the economy, for those workings to be functioning properly. Capitalism is a self regulating system. It works precisely because of its ability to autocorrect itself. If a bank's misusing the money you deposited, you take it to another bank that will make it safe. But as soon as the government gets to decide what happens with loan and interest rates, they're forcing a certain value on the money which overrules the natural workings of supply and demand. The result leaves little to be questioned. How can you possibly say it's capitalism failing, when really, it's the government that's been messing with its basic principles? Does that really mean capitalism is failing, or does it show how much the government policies are an unfitting failure?

The saddest part is, that the sloppier the economy gets, the more the government starts regulating. But really, all that that might do, is make things worse. If you're going to save banks who otherwise would have been in a bankruptcy, you're keeping them alive as zombies. Such government policies are keeping maladministrations in existence, with all due consequences. There is no way to mess up when your enterprise can't go out of existence. The boards of banks might just do whatever, because it won't matter anyway. The government will save them, regardless of their errors. Do you still think it's capitalism that's failing?

Now that such policies are activealready, all they can do to save the economy, is to give people back their savings and get these banks off the market. Hands off the market, and let it recover. Capitalism requires responsibility from all parties involved. You can't let yourself weaken for a moment without feeling the consequences. That's exactly why the government should never try to get involved...