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I'd rather be a Republican but........

By iwog   Follow   Mon, 2 Apr 2012, 11:46am   11,315 views   118 comments
In Lafayette CA 94549   Watch (1)   Share   Quote   Permalink   Like   Dislike  

Friday I was faced with the daunting task of clearing numerous building permits on a house that I'm renovating. The stupidity of American bureaucracy (three major pointless code updates since 2009) had me thinking that in another era, I'd almost certainly be a Republican. I went home and cleaned my handguns.

Then this morning I'm reading the news and I remembered why I'm not a Republican. While Democrats are often mislead by special interests, too beholden to liberal fringe groups, and sometimes err on the side of caution for petty causes that don't benefit anyone, Republicans have become the party of slash and burn.

The key here is Republican leaders have no intention of replacing the decimated government with freedom. This is the fundamental error of Tea Partiers and other free-market Republicans. They want to replace the government with an entrenched aristocracy and use corporate power to carry out policy.

Private prisons, private police forces, private schools, private roads, private utilities, private courts, and private money.

Take a look around the country and see how things have changed:

Money
1980
Almost all transactions are by cash or check. People traveling use cashier's checks they acquire for a small nominal fee. Credit cards are almost exclusively used for dining while free store cards predominate for gasoline and department stores.

2012
Almost all transactions are by credit card. Banks take 3% of every single purchase, and to encourage this theft they sometimes kick back 1% to the buyer. (if you have good credit)

Courts
1980
Federal, state, and local courts administer all civil justice and criminal fines.

2012
Nearly all civil litigation with corporations now occurs in kangaroo court mediation sessions and deference to these private courts are now part of almost every contract. These mediators find in favor of the corporation more than 99% of the time. Traffic tickets are now collected by private companies in most cases, and sometimes these same corporations are also in charge of giving tickets for camera infractions.

I've got more examples but everyone knows the way things are going, and before someone shouts "DEMOCRATS ARE TAKING AWAY OUR FREEDOMS!" remember that deregulation and privatization are Republican (and Tea Party) wet dreams. What they need to realize is the result of shrinking government is not freedom, the result of shrinking government is private tyranny.

THIS is why I'm not a Republican. Democrats are flawed, but their faults are crystal clear and they are open to attack because government is transparent. Republicans on the other hand are flawed, but their flaws are quickly hidden by burying them in Haliburton or Blackwater or Robert Mericle.

Who is Robert Mericle? http://en.wikipedia.org/wiki/Kids_for_cash_scandal

Republicans today are the LITERAL carriers of George Orwell's "1984" Big Brother dystopia. They want it, they vote for it, and they are at least half way to achieving it. You can either push is further down that road and help kill off whatever government we have left, or you can try and put government......REAL government that can be controlled, back in charge of the country.

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1. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

   79   3:43pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says Did any bank that got bailed out or was acquired by a bank that got bailed out fail? Yes. http://blogs.wsj.com/washwire/2010/08/23/fifth-tarp-bank-fails-likely-wiping-out-taxpayer-stake/ uomo_senza_nome says Of course you did. I presented clearly how paper gold futures market can obscure price discovery of physical gold. And you did not dispute any further, which means you really did not have a solid ground for your stance to begin with. I stopped posting because we were at an impasse. You claim that the paper says x, I say it doesn't say that at all. You can continue making that claim, but it doesn't make it true. I made my points and saw no need to continue the back and forth and spamming the thread with "yes it does", "no it doesn't" posts.

2. Honest Abe Follow Befriend (41) 91 threads 1,806 comments

   80   3:50pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike (2)   Iwog...dillusional as usual. Here's a good spoof of your Messiah: http://www.24hgold.com/english/news-gold-silver-the-100-000-trazillion-gaquillion-plan.aspx?article=1931436676G10020&redirect=false&contributor=David+Bardallis

3. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

   81   5:23pm Tue 3 Apr 2012   Share   Quote   Permalink   Like (2)   Dislike   tatupu70 says fyi--calling people naive is not an effective argument. It is essentially giving up. FYI, it was not presented as an argument. it was a question. tatupu70 says I don't agree, but that is not really relevant to the discussion at hand. The science of complex systems doesn't care whether you agree or not. It is what it is. Whether you accept it or not - doesn't matter a squat. tatupu70 says I made my points and saw no need to continue the back and forth and spamming the thread with "yes it does", "no it doesn't" posts. There are lots of evidence to show that the futures market has a linkage to the spot market, if you cared enough to look. This was the link I posted in that thread: http://jessescrossroadscafe.blogspot.com/2012/02/what-is-spot-price-of-gold-and-silver.html There's also the GOFO rate that comes from LBMA, which shows when the physical market is stressed. http://victorthecleaner.wordpress.com/2011/04/21/the-gold-forward-offered-rate-gofo-fever-chart-of-the-lbma/ You are looking for crystal clear explanations in an obscure market. That in and of itself is a contradiction.

4. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

   82   5:25pm Tue 3 Apr 2012   Share   Quote   Permalink   Like (2)   Dislike   uomo_senza_nome says iwog - please tell me you aren't really naive to think that Buffet isn't cozy with the State (regardless of who is in power). Cozy with the state isn't an accusation. I've read several Buffett Biographies and by all accounts he's mostly a recluse. He lives in the same middle class home he's owned for decades and he named his private jet the "Indefensible". I don't know if he's guilty of insider financial deals and neither do you. Buffett got rich buying Coca Cola, American Express, and Geico shares on the open market when anyone else in the world could do exactly the same thing. Once he accumulated billions in cash, he became the lender of last resort which enabled him to secure very favorable deals. All this is perfectly legal and one might even say admirable. I'll tell you something else about Warren Buffett. Boards and CEOs fear him because he has a reputation for slashing compensation. He's simply not the crony type.

5. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

   83   6:15pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says The science of complex systems doesn't care whether you agree or not. It is what it is Agreed. And it's not what you think it is. uomo_senza_nome says There are lots of evidence to show that the futures market has a linkage to the spot market, if you cared enough to look. Sure. And once again you make a point that has no relevence to the current discussion. uomo_senza_nome says You are looking for crystal clear explanations in an obscure market. That in and of itself is a contradiction. I'm doing nothing of the sort. I really don't know where you are coming up with this stuff.

6. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

   84   6:41pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says And it's not what you think it is. LOL, you are excellent at making pointless bland arguments. You said you don't agree that TARP was the epitome of moral hazard. What I said is it doesn't matter whether you agree or not -- because TARP's moral hazard is a FACT . tatupu70 says And once again you make a point that has no relevence to the current discussion. you brought up the point that you did not chicken out, I showed that you have chickened out in a prior discussion. tatupu70 says I really don't know where you are coming up with this stuff. hmm, you said: tatupu70 says You can continue making that claim, but it doesn't make it true. And I have presented articles where the topic has been discussed, that's all.

7. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

   85   7:33pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says What I said is it doesn't matter whether you agree or not -- because TARP's moral hazard is a FACT . And I'm saying that YOU OBVIOUSLY DON'T KNOW WHAT A FACT IS. THAT IS AN OPINION. uomo_senza_nome says you brought up the point that you did not chicken out, I showed that you have chickened out in a prior discussion. Really? That's the best you've got? Me ending a discussion because it was pointless is chickening out? Come on. You can do better than that. uomo_senza_nome says And I have presented articles where the topic has been discussed, that's all. Yes you did. The problem is that just because some anonymous soul writes a blog doesn't make it a fact. Otherwise, solver would be correct and it would be a fact that aliens are walking among us.

8. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

   86   9:24pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says The problem is that just because some anonymous soul writes a blog doesn't make it a fact. hmm, GOFO rates are published by LBMA.. the blogger used that data. Unless you consider the London Bullion Market Association as anonymous soul. tatupu70 says Me ending a discussion because it was pointless is chickening out? well I did not think it was pointless. I figured if you had a point, if you'd state it -- since I stated something meaningful. Clearly my understanding was wrong. You consider LBMA as anonymous :) tatupu70 says And I'm saying that YOU OBVIOUSLY DON'T KNOW WHAT A FACT IS. hmm. Let's go back to definitions: Definition of 'Moral Hazard' The risk that a party to a transaction has not entered into the contract in good faith, has provided misleading information about its assets, liabilities or credit capacity, or has an incentive to take unusual risks in a desperate attempt to earn a profit before the contract settles. Read more here What was TARP all about? The bailout will attempt to increase the liquidity of the secondary mortgage markets by purchasing the illiquid MBS, and through that, reducing the potential losses that could be felt by the institutions who currently own them. Read more here. Illiquid assets will question the solvency of these financial institutions, therefore the bailout. Liquidity is the means to cover up insolvency. More on moral hazard from Matt Taibbi . Here's a quote from the Dallas Fed PDF on the need to end "TOO BIG TO FAIL". Full PDF . Moral hazard reinforces complacency. Moral hazard describes the danger that protection against losses encourages riskier behavior. Government rescues of troubled financial institutions encourage banks and their creditors to take greater risks, knowing they’ll reap the rewards if things turn out well, but will be shielded from losses things turn sour. Here's a link that I have posted several times before. Of course, in economic systems when agents actively intend to arbitrage such commitments by central banks, it is simply a form of moral hazard. But such an adaptation can easily occur via the natural selective forces at work in an economy – those who fail to take advantage of the Greenspan/Bernanke put simply go bust or get fired. In our brain the adaptation simply reflects homeostatic mechanisms selected for by the process of evolution. What I like most about Ashwin's article is that he makes analogies between an economy and a human body (both being complex adaptive systems). I rest my case.

9. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

   87   10:27pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says Sounds awfully close to the greater foold theory to me. if you have perused the links (Krugman, Summers and the Many values of Gold article), you will realize that the above statement is baseless and an empty rhetoric against gold.

10. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    88   4:24am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says I rest my case You're really not getting it. I could make my argument why I don't think moral hazard is as big of a fear as you make it out to be (I have several times before), but that's not the point. You need to learn the differnce between a fact and an opinion. Just because an opinion is widely held doesn't not make it a fact. I'll leave you with this. Moral hazard would imply that the bailout will encourage banks to take large risks in the future. Because they know they will get bailed out again if the risks go bad, right? 1. Although they got bailed out and didn't fail, they lost HUGE. Where is the incentive for banks to do it again? Because they like to lose HUGE sums of money? 2. Not ALL financial institutions got saved. Lehman, IndyMac, and many others failed. Are banks SURE that the government won't let them fail next time? Especially if the whole system isn't at risk?

11. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    89   4:27am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says if you have perused the links (Krugman, Summers and the Many values of Gold article), you will realize that the above statement is baseless and an empty rhetoric against gold I did peruse the links. You do this a lot. Calling people who disagree with you either naive or assuming they didn't read your links. The problem is your links usually don't say what you claim they say...

12. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    90   7:00am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   I think Cloud is off his meds this morning.

13. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    91   7:04am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   iwog says I think Cloud is off his meds this morning. I think Cloud has been off his meds since he joined the forum. "ObamaSachs! ObamaSachs! ObamaSachs!"

14. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    92   7:27am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   Cloud says Got any Nancy Pelosi dolls in your domicile? I haven't met Nancy Pelosi but I've met Barbara Boxer in person and had a short conversation with her about the 2008 election.

15. CaptainShuddup Follow Befriend (1) 246 threads 4,655 comments

    93   7:35am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike (3)   Yeah really what an Ass hole Obama publicly chastises his wife for not bearing him a Son, then George Zimmerman for killing the son he never had. What a horses ass indeed. Where does the DNC find these assholes? Oh yeah, they manufacture them. 26-year-old Democratic worker and Voter Registration Board employee Lucas Burkett told prosecutors that in January 2008, he was ordered to forge presidential petitions for then-Sen. Barack Obama to put his name on the primary ballot. He claims that the plot was hatched and carried out inside the St. Joseph County Democratic Party headquarters, and that he even forged some of the signatures himself. According to court papers, Burkett told investigators he had a change of heart during the secret operation and decided to come clean. Now his lawyer calls him "a hero." Andrew B. Jones, Burkett's attorney, told Fox News that Burkett "is the whistleblower in this. ... He is someone who stood up for good government, and has cooperated with the state police and will continue to do so." Investigators say they found forgeries on 22 Obama and Clinton petitions. Each petition page contains 10 names. Multiple voters told Fox News they never signed the Obama petitions that included their signatures and names, and were stunned and disturbed to see their names included. Read more: http://www.foxnews.com/politics/2012/04/03/special-prosecutor-appointed-in-2008-presidential-election-fraud-case/?test=latestnews#ixzz1r5AgjEOc

16. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    94   7:40am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   CaptainShuddup says Yeah really what an Ass hole Obama publicly chastises his wife for not bearing him a Son, then George Zimmerman for killing the son he never had. What a horses ass indeed. Where does the DNC find these assholes? Yeah, he really did that..........

17. bdrasin Follow Befriend 6 threads 487 comments Alameda, CA

    95   8:08am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   iwog says Cozy with the state isn't an accusation. I've read several Buffett Biographies and by all accounts he's mostly a recluse. He lives in the same middle class home he's owned for decades and he named his private jet the "Indefensible". FWIW, I work for a company owned by Berkshire Hathaway and have had a couple of occasions to meet Buffet (very briefly naturally). He's pretty hands off and we rarely hear about him, but he came into town unexpectedly last year and we had all got summoned to a surprise party...the refreshments consisted of generic sodas and cake from Costco. Maybe that gives you an idea of the kind of guy he is.

18. FortWayne Follow Befriend (13) 102 threads 3,759 comments

    96   8:11am Wed 4 Apr 2012   Share   Quote   Permalink   Like (3)   Dislike   iwog says California isn't just the state with the budget problems, California is the richest state in the country and one of the richest states in the world. Many states out there don't have the taxes we do and are doing fine or better. Washington is doing great, Texas is doing great too. While we have every kind of tax and fee imposed on us. I think Democrats in charge are running this state into the ground. Public sector was always there to support private sector, that made America great. But in CA it is being turned around where private sector is now being squeezed to support public sector. This is socialism, and it will never work out well. Sure you might be right that Republicans might not solve these problems, but keeping the same guys in charge will guarantee not to solve the problems. That is why next election I'm voting for a change. Just like I voted to throw Davis out when he started taking too much out of the private sector.

19. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    97   8:11am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   bdrasin says the refreshments consisted of generic sodas and cake from Costco. He should have at least given you Coke products. Doesn't BRK own a lot of Coke stock?

20. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    98   8:12am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   FortWayne says Many states out there don't have the taxes we do and are doing fine or better. Is there a Ft. Wayne in CA.?

21. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    99   8:25am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says Is there a Ft. Wayne in CA.? I was wondering the same thing...

22. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    100   9:00am Wed 4 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   tatupu70 says Are banks SURE that the government won't let them fail next time? Especially if the whole system isn't at risk? Your level of complete disregard for systemic risk is amazing. Can Bank of America or JP Morgan or Wells Fargo fail? Think long and hard about it. Will the Government let them fail? They are not excellent at doing business, after all they have a lot of shitty loans on their portfolio, which if marked to market would cause a serious destruction to their balance sheet. So yes - moral hazard is well-embedded in the system and you can't just gloss over it, thinking that it is a widely held opinion. It is a well established fact at this point.

23. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    101   9:02am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says Your level of complete disregard for systemic risk is amazing seriously--wtf are you talking about. You have a very difficult time staying on topic. You have not even addressed any of the points I brought up. IN YOUR OPINION, moral hazard is embedded in the system. It is NOT a fact, no matter how many times you say it.

24. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    102   9:04am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says The problem is your links usually don't say what you claim they say... hmm, in the links I quoted regarding gold, I think it is pretty clear if you had enough reading comprehension: the simple fact is gold acts as a long term store of value competing with government bonds regardless of whether gold is a part of the monetary system or not . This is empirically established. If you are going to contest this fact which has been backed by centuries of data, then well -- wouldn't you agree that would be stupid?

25. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    103   9:05am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says seriously--wtf are you talking about. You have a very difficult time staying on topic. not really. I am very specific in what I write. And secondly - you have a very difficult time reading links. I can't help you with that though. tatupu70 says You have not even addressed any of the points I brought up You brought up some institutions that did fail. I am telling you that there are a lot of TBTF institutions that pose systemic risk. It's not even me, you are hearing that from the DALLAS FED. I don't know what other source I can quote to show that systemic risk is alive and well? Simon Johnson (Former chief economist of IMF) has been harping on it for 2 years. So I am quoting reputed and relevant sources. I don't understand why you'd have a difficult time accepting it.

26. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    104   10:28am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says I don't know what other source I can quote to show that systemic risk is alive and well If we were arguing whether systemic risk is alive and well, then you'd have a point. We were talking about moral hazard, however. They are not the same thing. See-that's what I'm talking about. Try to stay on topic.

27. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    105   10:30am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says I think it is pretty clear if you had enough reading comprehension: the simple fact is gold acts as a long term store of value competing with government bonds regardless of whether gold is a part of the monetary system or not . This is empirically established. If you are going to contest this fact which has been backed by centuries of data, then well -- wouldn't you agree that would be stupid? And I was pretty clear in agreeing that in the past gold has acted as a store of value. I am not now, nor have I ever, argued that point. If you can't understand that, you need to read a little closer.

28. uomo_senza_nome Follow Befriend (13) 787 threads 1,542 comments

    106   10:39am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   tatupu70 says We were talking about moral hazard, however. They are not the same thing. Systemic risk leads to moral hazard if we have a banking failure, simply because the cost of the failure will be catastrophic. The agents involved in taking that risk know that they will be backstopped for the losses (complacency due to past backstops as well as the knowledge that they are too big to fail as recognized by the Govt., which is also referenced in the Dallas Fed PDF). That is the very definition of moral hazard. Which is why I have been stating repeatedly that TARP is moral hazard, meaning it has already done the damage in terms of introducing complacency for the TBTF. So I see what you are doing is simply nitpicking terms but missing the big picture. tatupu70 says See-that's what I'm talking about. Try to stay on topic. I generally don't lose the forest for the trees. You are doing that quite often. tatupu70 says If you can't understand that, you need to read a little closer. I see. but you are questioning whether it can serve as a store of value in the future then? Why are you questioning that, when the Central banks themselves hold gold reserves -- you know, just in case? :)

29. Honest Abe Follow Befriend (41) 91 threads 1,806 comments

    107   10:42am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike (1)   No, helicopter Ben said central banks hold gold due to "tradition". Tradition, hahaha.

30. tatupu70 Follow Befriend (3) 15 threads 5,606 comments

    108   10:50am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   uomo_senza_nome says Systemic risk leads to moral hazard if we have a banking failure. Because the agents involved in taking that risk know that they will be backstopped for the losses. That is the very definition of moral hazard. So I see what you are doing is simply nitpicking terms but missing the big picture. I see you didn't understand my previous post at all. Were banks backstopped for the losses? Really? It seems to me they've taken the losses. Have you looked at their income statments lately? Noticed the writeoffs they have taken? And continue to take? So again, what is the false incentive for banks to take on more risk than they should? And moral hazard also means banks are sure that the bailout would occur again. Are you sure that the government would step in again?? I sure as hell am not. Not in this political environment. uomo_senza_nome says I see. but you are questioning whether it can serve as a store of value in the future then? Why are you questioning that, when the Central banks themselves hold gold reserves -- you know, just in case? :) I question it because there is no fundamental reason why it should act as a store of value. It has no real intrinsic value. Other than jewelry, there are very few real uses for it. But, it may continue to act as a store of value forever. I just don't think it's a given.

31. freak80 Follow Befriend (4) 52 threads 4,416 comments Corning, NY Premium

    109   11:11am Wed 4 Apr 2012   Share   Quote   Permalink   Like   Dislike   Gold is a long-term store of value. But then you have to pay someone to gaurd it. Or build your own vault at home. I'm thinking it's better to own an index fund for the long-haul. Better to own part of corporate America which pays dividends and buys back its own stock. Unless the entire country implodes. Which could happen. Right Apocalypsefuck?

32. wbblair3 Follow Befriend 2 threads 94 comments

    110   6:57am Fri 6 Apr 2012   Share   Quote   Permalink   Like   Dislike   "Democrats are flawed, but their faults are crystal clear and they are open to attack because government is transparent." Right about the Reps, but you have GOT to be f'ing kidding me about the Dems. The Most Transparent Administration Ever™ http://www.salon.com/2012/03/30/the_most_transparent_administration_ever%E2%84%A2/singleton/

33. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    111   10:28am Fri 6 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   wbblair3 says Right about the Reps, but you have GOT to be f'ing kidding me about the Dems. I didn't say the Dems. I said GOVERNMENT is more transparent than the private industry Republicans want to replace it with. Budgets and funding are public, oversight is public, and the rules are generally a lot more strict even if they aren't always followed. Ultimately most public officials can be voted out if the public wants them gone. This is completely different than the star chamber of corporate management.

34. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    112   8:09am Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike   Cloud says but are yoiu really, seriously saying you want more GOVERNMENT sticking its nose into private businesses? Not all, just private businesses with over 50 employees.

35. Dan8267 Follow Befriend (16) 760 threads 7,667 comments Boca Raton, FL Premium

    113   9:36am Sat 7 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   iwog says Almost all transactions are by credit card. Banks take 3% of every single purchase, and to encourage this theft they sometimes kick back 1% to the buyer. (if you have good credit) That's a hell of a national sales tax there. And the revenue goes to rich bankers, not the treasury.

36. marcus Follow Befriend (5) 166 threads 5,053 comments

    114   9:51am Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike   I seriously doubt that large volume merchants pay 3%. I looked it up, and this is a big part of that fee. http://en.wikipedia.org/wiki/Interchange_fee Most of us have encountered small merchants who charge you some small amount for using a credit or debit card. I guess this is why, but it seems somewhat complicated because of the "add-on rate, or pass thru."

37. CaptainShuddup Follow Befriend (1) 246 threads 4,655 comments

    115   10:18am Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike (3)   Dan8267 says iwog says Almost all transactions are by credit card. Banks take 3% of every single purchase, and to encourage this theft they sometimes kick back 1% to the buyer. (if you have good credit) That's a hell of a national sales tax there. And the revenue goes to rich bankers, not the treasury. Unlike the Gas speculation gouging where the tax money goes to Iwog and the 112 members of Congress and Senate.

38. Dan8267 Follow Befriend (16) 760 threads 7,667 comments Boca Raton, FL Premium

    116   10:31am Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike   CaptainShuddup says Unlike the Gas speculation gouging where the tax money goes to Iwog and the 112 members of Congress and Senate. There's a solution to that, r = 1 - 0.01m. If you don't get it, read my past posts on capital gains taxation and bubble prevention.

39. iwog Follow Befriend (48) 272 threads 12,445 comments 47 male Lafayette, CA Premium

    117   4:04pm Sat 7 Apr 2012   Share   Quote   Permalink   Like (1)   Dislike   CaptainShuddup says Unlike the Gas speculation gouging where the tax money goes to Iwog and the 112 members of Congress and Senate. Right.......because the deregulation of the energy markets was pushed by Democrats and not Republicans. You made a mistake. Go back and reference your Foxbot handbook about free markets. You're not supposed to disagree with laws that make speculation easier.

40. marcus Follow Befriend (5) 166 threads 5,053 comments

    118   4:35pm Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike   I'm supposedly a liberal and I don't believe that speculation does much more than add liquidity to the market. Sure at times it may add volatility, but if they (the ones bidding it prices up) are wrong, there has to be an equal and opposite down swing at some point. A sufficient understanding of markets and trading is needed to grasp this. It is true that markets are forward looking, and susceptible to panics in either direction. But the presence of speculators actually makes manipulation harder than if they weren't there. If anything, it seems all together possible to me that oil prices should in fact at some point soon be high enough to provide more motivation for alternative energy development. But short term interests of big oil may prevent this. How does the long term scarcity and or the environmental impact of drilling and using oil even affect the price ? It doesn't.

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