SP33Demon
Lifer
- Jun 22, 2001
- 27,929
- 142
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Only a complete financial idiot would think that the market is acting rational, either up or down, and should be left to its own devices.
EMH is great, in a vacuum.
Lemon law
Lifer
- Nov 6, 2005
- 20,984
- 3
- 0
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For what it is worth, I read the article and also the opinion of Mich, and found some thing I could agree with, some things I disagreed with, but over all, I still remain convinced that a good part of this financial crisis has been caused by GWB&co dismantling of over a century of regulations put in place to prevent these kinds of problems from occurring.
And if any care to read their own US history, financial buccaneering of this type was far more common in the era of 100-140 years before the present day, and every few years various financial players came very close to causing a complete collapse of the economy. While the analogy does not perfectly fit this current crisis, and blaming libertarians for the completely inept asleep at the switch bumbling of GWB&co is like blaming a long dead criminal for a new crime wave, but the unmistakable by product of this current financial crisis is the complete dis crediting of most of the libertarian mythology.
Bottom line, we let the fox run the hen house, let the fox re write all the rules, add in some greed, human nature, empowered some hens to profit from the greed, and given the rotten system enough time, and now the whole hen house is on fire, and the libertarian answer is to let it all burn to the ground?
SP33Demon
Lifer
- Jun 22, 2001
- 27,929
- 142
- 106
Well at least you admit GWB&co aren't libertarians, even though you still think they adhere to an Invisible Hand type philosophy (Adam Smith). Rather broad paintbrush, don't you think?
The Lib answer isn't to let it all burn to the ground but to practice fiscal responsibility that doesn't include rampant borrowing and a house of cards (i.e. credit crisis). A return to the gold standard would ensure this. Sure, liquidity would be hampered but it's better than rampant borrowing IMO.
...and thankfully, we will never ever have to know. We will just read about the LP talk and whine about it on the internet and other forms of news as they convince themselves that they actually hold any real power. It's all fluff and hate.
Lemon law
Lifer
- Nov 6, 2005
- 20,984
- 3
- 0
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Now I have seldom seen two bigger stinking pieces of logic combined in one single post.
On logical point #1, we have Boberfett basically saying ignore this current crisis, ignore the political positions of Obama, ignore the political positions of McCain, the only criteria to judge the issues by is the behavior of those who support Obama.
Then on logical point #2, Boberfett confesses his real role on P&N is to taunt Obamites at every available opportunity.
And combined, they seem to add up to just ignore everything else, and just watch Bobber the cheerleader and follow his inspiring non thinking leadership which is to maximize Obamite misery. Which somewhat lead us back to our current crisis, yep us Obamites are really distressed by all of this misery, the problem is its distressing everyone else also, with the almost lone exceptions of Boberfett and Ossama Bin Laden.
That's exactly what would happen. Both sides of the coin have their pros and cons. The only fools are the ones which consistently pick one side. The key is to balance that coin on a case by case basis.
One of the biggest reasons behind the mortgage problems we are seeing now stems from the deregulation during the 80s.
When the regulations were in place, the system was working far better than after they were removed. That is the bottom line. Were they perfect? Of course not, but they were still a lot better than this crap.
bamacre
Lifer
- Jul 1, 2004
- 21,030
- 2
- 61
I am not saying you are wrong, but you miss my point. The regulations were not in place to regulate a "free" mortgage market, they were regulating a market where there was already much government intervention.
http://en.wikipedia.org/wiki/Freddie_mac
jman19
Lifer
- Nov 3, 2000
- 11,221
- 654
- 126
They're all highly regulated?
Do you think derivative instruments and risk taking wouldn't exist without regulation? Not likely. I do think, though, that eventually those who overstep their bounds without help from the gov't would die and those that preserve a sound system would survive. I'm not sure though that we can just let everything fall apart to get their. What we need to do is to elect those that can get us to that end state while minimizing disaster.
My vote was going to Bob Barr though I have some issues such as his voting record with the Patriot Act, but I will have a look at what Baldwin wants to bring to the table. So far I either agree with or am neutral on the bullet points he went over in the OP's video links, except for abortion which I support. I am Libertarian and wouldn't normally be interested in the Constitution Party b/c of their religious views, but Baldwin doesn't seem to have any intention of bringing a religious agenda to the presidency and even reaches out to atheists if his video below is to believed:
http://exchristian.net/2/2006/...-as-americas-most.html
Contrast that that "America is a Christian Nation" McCain:
http://jp.youtube.com/watch?v=9izhjnaLa3M
I know I've seen videos of Bush saying words to the effect of that he has made some presidential decisions based on god's orders, though I can't find them at the moment.
Since I'm linking candidates views on religion I might as well post this Obama clip so people can see where he fits in:
http://jp.youtube.com/watch?v=7wdFf7JgtU4
http://exchristian.net/2/2006/...-as-americas-most.html
Contrast that that "America is a Christian Nation" McCain:
http://jp.youtube.com/watch?v=9izhjnaLa3M
I know I've seen videos of Bush saying words to the effect of that he has made some presidential decisions based on god's orders, though I can't find them at the moment.
Since I'm linking candidates views on religion I might as well post this Obama clip so people can see where he fits in:
http://jp.youtube.com/watch?v=7wdFf7JgtU4
Lemon law
Lifer
- Nov 6, 2005
- 20,984
- 3
- 0
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No bobber, its you who misses the point, as you lose sight of the entire purpose of government.
Regardless of who brings good public policy, the wisdom is of a rising tide lifting all boats, but when you call forth a pox on Obamites, and when that same pox you call forth negatively effects everyone, and your priority of misery for Obamites also causes the same misery for Cainities, we should all call you an idiot.
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