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The free market (3 Viewers)

Chemical Ali

Chemical Ali

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offspin of 4chan news board which got deleted because it was overrun by white supremacists and conspiracy theories about jews

you'd find lots to agree with there

http://4chon.net/new/
 
scuba_steve2121

scuba_steve2121

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Garygaz said:
ahgahaha m8

ron paul 5eva

so you acknowledge that the dipping of interest rates and then the subsequent raising of them again was one of the main reasons for the crash, but then you seem to smack your head into dirt when it comes to acknowledging any of the other events that attributed to what happened?

if the lenders had practiced prudent lending practices then the increase in interest rates would not have had the same ramifications!?!?!?! fed responsible for the practices of private enterprise? m8, everything is simple with hindsight.
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the housing crisis and recession was predicted by Austrian economists many years before it took place, banks were FORCED to give out those bad loans, and the market was distorted by the fed's artificially lowered interest rates, artificially created cheap credit fucks everybody over k? the banks had all this fucking money from the fed, in a time when the economy was booming its ass off, sif they were gonna be prudent lol, I wouldn't of expected them to be prudent. If the government policy was not put in place and the fed did not exist no bad loans would of been given out, because nobody would be A forcing them to and B the money to do it would not EXIST PERIOD.

ok now I'm done
 
scuba_steve2121

scuba_steve2121

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Garygaz said:
you're essentially saying that the fed should expect that their monetary policy would lead to fraudulent practice. okay.
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its not fraudulent, fed distorts the market with cheap credit, businesses get the wrong price signals and make bad investments, and everything fucks up when interest rates go up to curb the inflation created by the fed.

Garygaz said:
seriously, i don't know what you're arguing. it's not economics:

when entity a) partakes in an action which entity b) abuses, a) attempts to rectify problem and the result of b)'s previous actions leads to serious ramifications. without entity b) abusing the situation in the first place a)'s attempts to rectify the problem would have had a negligible ill effect.
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if A is the fed, than A should not exist in the first place to allow actions by B to happen

K NOW IM DONE
 
boris

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what the fuck did a heap of everything just get deleted
 
Garygaz

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scuba_steve2121 said:
its not fraudulent, fed distorts the market with cheap credit, businesses get the wrong price signals and make bad investments, and everything fucks up when interest rates go up to curb the inflation created by the fed.



if A is the fed, than A should not exist in the first place to allow actions by B to happen

K NOW IM DONE
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wrong price signals? i suggest you read the big short. loans were failing catasrophically before interest rates were risen. how does standard & poors rating junk grade bonds as AAA have anything to do with this? loaning to people leveraged at well over 100% based on the fact that house prices would never fall, bad price signalling?

okayokayokay
 
cheese_cheese

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2008 - Ongoing financial crisis. The theory of 'free markets' failed beyond all belief. No economists before the ongoing GFC even thought a failure of the theory on that magnitude was possible and look what happened and is still happening.
 
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S&P downgraded the credit ratings of nine eurozone countries in the major overhaul - Italy, Spain, Portugal and Cyprus by two notches, and France, Austria, Malta, Slovakia and Slovenia by one notch each.

http://www.abc.net.au/news/2012-01-14/france-loses-aaa-credit-rating/3772580


Also of interest is article on White-Collar Workers Join Crowd Straining Food Banks in the US

http://www.bloomberg.com/news/2012-...n-swelling-crowd-straining-soup-kitchens.html

In 2012 New York City, a college degree no longer guarantees that you'll know where your next meal is coming from.

http://www.foodbanknyc.org/blog/ind...ds-a-Startling-New-Trend#.TxEHARCrFSs.twitter
 
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