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follow tovarichpeter 2017 Aug 17, 10:59am
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SeriesTHE BLOGS Ten Years After Financial Crisis Our Elites Have Learned Nothing Dean BakerTruthout, August 14, 2017See article on original siteLast week, I heard BBC announce the 10th anniversary of the beginning of the financial crisis. This is dated to the decision by the French bank BNP Paribas to prohibit withdrawals from two hedge funds that were heavily invested in subprime mortgage backed securities. According to BBC, this was when lending began to freeze and house prices began to fall.The problem with BBC's story is that house prices had already been falling for more than a year. While the nationwide...
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Since the government earns no money on it's own, it's all borrowed from the Federal Reserve, and the interest owed on that borrowing is paid back through taxes, which are levied on US Citizens, how the fuck does it cost us nothing!?
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
It is well enough that people of the nation do not understand our banking and monetary system
I say shave 75% off the top off every Real Estate parcel in America. Then raise the Fed interest rates to 6%, revisit the HW Bush(Now that we know what evil crooks they were and were the God Father to what we have now) S&L Loans regulation that killed personal saving accounts being paid. I would rather see my bank account grow 20% YOY than my house. Less you expect your grand children to live in caves and fend for themselves
Says the guy who doesn't know the difference between an "Asset" and a "Liability".
No, actually that is none of the numbers I want. I'm looking for you to show where the $10T cost of the bailout is coming from. That link does not answer that.
Joey - I can't help but ridicule you over this. The bailout and the all the wreckage caused by the financial sector (see low interest rates to rob savers to help bankers and balance sheets) is all part of the "fix" that IS NOT BEING PAID BACK. Why is that so hard for you to understand?
Maybe because if your system is ever increasing debt, nothing ever gets paid back? You don't live 200 years and the national debt has been increasing steadily since the 1960s so 60 years might as well be forever. I can accurately say for anyone currently alive, it has cost you nothing.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
Whether the US is Communist, Socialist, Democratic, or Capitalist today does not change the fact that the USA is abankrupt warmongering police state.
robot that was driving @WookieMan nuts.
I just checked this thread on another browser. Glad I ignored Oil and surprised he's only got 5 so far. Pure rubbish what that bot or copy/past troll puts up here. Will use ignore sparingly, but if it's clear the person isn't real or won't literally participate in the dialog, then goodbye.
The US is rigged. Since the USA is a police state, Americans are wondering how to resist. Voting doesn't work. Protesting is illegal. An armed rebellion would probably be crushed.
Yet you're still here in this obvious hellscape where most Americans still go to work and pay the rent and screw every weekend and worry more about their credit card bills than the 1 in 10 million chance they will be shot by a cop.Why are you here?
He just needs a couple of more bottles