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When did you sell your tulips?

>I honestly don't know how you can blame this on the federal reserve. The whole issue is caused by people defaulting on their loans. How is the fed responsible for that? Wouldn't the libertarian way of looking at it be to blame the people who acquired loans they couldn't afford?

My apologies, i did not try to blame this mess on the federal reserve thou i do mean they are implicated. As you know, when one find oneself in a conversation about federal reserve and the gold standard things do tend to get a little heated.

There is one angle where in the low interest rates helped to build up the looming credit crisis (sub prime crisis)From this angle i blame the federal reserve. From another angle, one would assume when you are about to buy a house you would read up on the terms of the loan. Sad to say, there are some people who failed to do so. In the third angle one could go after the lenders of these loans, i have some horrific examples lined up here to back up my argument.

But since this is a discussion about the gold standard or lack thereof, i will continue to argue from that standpoint. There will be a recession, the fed are going to print a huge amount of money to try to curb things up. Since im a follower of the Milton Friedman school of economics i do believe this i going to start a inflationary process. I do not like the sound of these printing presses, call me a biggot if you like.

So from my standpoint, i am about to get hit from the madness other people brought on themselves. Not directly, since i don't live in the united states. But indirectly, since the country i live in do export a large sum of goods to the united states. Now remembering the tulip crisis of holland. http://www.stock-market-crash.net/tulip-mania.htm
Even with or without a gold standard a lot of innocent people where hit by the craze of the times. I want to minimize that target area, yes my business may be bad for some times due to the failing markets. But no, there are no means for the federal reserve to further bring havoc upon me, this by starting the printing presses (if one would have pegged it to gold standard)

I thank you for your link about the gold standard but i have already read it and some other material concerning this subject. Please keep in mind that I'm struggling throe bot language and culture barriers to get my message throe

The registrar is selling you the right to have your domain in the global DNS, and as such can revoke it at any time. This is why the domain market is so strange (and I've been involved with it in different ways for 12 years now). People have spent huge amounts of money on more intangible things but not many, and ultimately domain disputes can all be solved simply by pointing out my first sentence. It's like Dutch Tulip Mania. Hmm, I registered dutchtulipmania.com years ago, now it's parked with GoDaddy, which goes to show.

So I think that the economy tanked as a result of his impending presidency. At least, that's how it looked and felt to me.

As an experiment, try correlating your feelings about the economy tanking with the Stock Market Bubble. Your feelings are misleading you.

Right.... the Stock Market Bubble had no effect.

Keep trying.

From 1996 to 2000, the Nasdaq went from 600 to 5,000! Dot-com companies run by people who were barely in their 30's, were going public and raising hundreds of millions of dollars of capital. These companies didn't even have much of a business plan, and certainly didn't have any earnings, either! For example, Pets.com had no earnings yet came public and raised billions of dollars. Dot-coms wasted millions of dollars per night on frivolous parties. Hard work was never part of the picture for dot-commers. There are many stories of dot-com employees walking around barefoot in the office and playing foosball all day. At one point, a new millionaire was created every 60 seconds! Many of these instant millionaires thought that they were so brilliant, that all they had to do was play to make money. Never mistake a bull market for brains.

. ... By early 2000, reality started to sink in. Investors soon realized that the dot-com dream was really a bubble. Within months, the Nasdaq crashed from 5,000 to 2,000. Hundreds of stocks such as Pet.com, which were each worth billions, were off the map as quickly as they appeared. Panic selling ensued as investors lost trillions of dollars. The stock market kept crashing down to 800 in 2002. One high flier, Microstrategy, slid from $3500 per share to $4! Numerous accounting scandals came to light, showing how many companies artificially inflated earnings. Shareholders were crippled. In 2001, the economy entered a recession as the Fed repeatedly cut rates, trying to stop the bleeding. Millions of workers were now jobless and had lost their life savings.

Needless to say, the New Economy was a farce, and traditional economic principles still hold. What is sadly interesting is how bubbles will continue to occur in the future. When they do occur, foolish investors will say, "This time is different!"

It was actually Black Monday.

Wait till this one pop. It'll have the dot com era seem so yesterday. Go to this website http://www.stock-market-crash.net/housing-bubble.h tm. In 1989 Japanese housing bubble, housing prices tanked for 13 straight years. US might do the same. The hi-tech industry is recovering alright considering the short period of time.

I'd rather invest the money myself thank you. I'm responsibly enough that I understand risk and proper investment allocation. Social security (for retirement, and for people who make a certain $$ a year) is nothing but a safety net for people who are financially irresponsible.

This

But seriously - 20 something billionaire yuppies sans business plan?