It's May 14, 2024, 06:58:53 PM
In a way to get more home buyers, Bill Clinton and a Republican congress deregulated banks, and pushed sub prime mortgages. What this did was basically let people buy homes they can't afford, and then after 3-5 years, their rates raised and they were hit with a monthly mortgage payment that they could not even imagine. The main point is this, just because we can print money, and raise inflation, doesn't mean we should.
'No big government! Cut the red tape! Get the government off our backs rah rah rah, down with socialism! The market will regulate itself like the magical talking tea-cups and spoons in magical land...'
Quote from: Rugged Monk on October 09, 2008, 07:22:53 PM'No big government! Cut the red tape! Get the government off our backs rah rah rah, down with socialism! The market will regulate itself like the magical talking tea-cups and spoons in magical land...'Lending money to stupid people that cannot pay it back is simply bad business and people that do such things should be punished, and they would be punished by a free market because they'd end up lending out money they would not get back and owning houses that aren't worth have of what they were leant out as. An unregulated, a real unregulated society (not this socialist shithole we live in now), market would put money lending morons out of business for good and newer smart money lenders would emerge. But in this corperate welfare world those smart lenders don't have to exist because we have the government to bail out every idiot fron here to as far as the eye can see.All regulation is bullshit, because the people with the dough can cut any red tape that needs cutting while the people trying to make a buck get all wrapped up in red sticky shit.
Quote from: Shallow on October 09, 2008, 09:25:48 PMQuote from: Rugged Monk on October 09, 2008, 07:22:53 PM'No big government! Cut the red tape! Get the government off our backs rah rah rah, down with socialism! The market will regulate itself like the magical talking tea-cups and spoons in magical land...'Lending money to stupid people that cannot pay it back is simply bad business and people that do such things should be punished, and they would be punished by a free market because they'd end up lending out money they would not get back and owning houses that aren't worth have of what they were leant out as. An unregulated, a real unregulated society (not this socialist shithole we live in now), market would put money lending morons out of business for good and newer smart money lenders would emerge. But in this corperate welfare world those smart lenders don't have to exist because we have the government to bail out every idiot fron here to as far as the eye can see.All regulation is bullshit, because the people with the dough can cut any red tape that needs cutting while the people trying to make a buck get all wrapped up in red sticky shit.What do you think is happening now? Those banks ARE going out of business, people ARE defualting on their loans and companies are folding and that bail out bill was a panic-stricken knee jerk reaction. I think its a fantasy thinking the market will just regulate itself and it will be all gravy, sure it can 'regulate' itself, but then life is brutal, starve to death and die of treatable diseases if you aint got a dime brutal. The only reason we have the luxury of sitting infront of PCs casually contemplating the world is because of GOVERNMENT: LAWs and REGULATION. There may be stupid regulations and too much regulation in some areas, but don't wish for no regulation at all, otherwise move your ass to Botswana and pack nothing with you if you want to really experience the 'free market', a 'free market' inevitablly becomes a market with slaves and slavers with government open to the highest bidder. “The condition of man . . . is a condition of war of everyone against everyone.” "No arts; no letters; no society; and which is worst of all, continual fear and danger of violent death; and the life of man, solitary, poor, nasty, brutish, and short” -Thomas Hobbes, The Leviathan.
Obama is a fraud. You're a racist fuck if you think he's any different because he's dark complected. Peeps are gonna be heartbroken and I'm gonna be right here laughin.Fuck Obama