The Fed is not to blame for the predatory lending practices of the giant corporate banks
The Fed is definitely to blame for providing the banks with an unlimited amount of fiat money to lend. If the banks were limited to lending out their deposits, the interest rates would provide a natural limiting effect.
if you had at least two brain cells...and bereft of a logical argument, naturally you resort to being snotty.
The Fed has caused a series of bubbles by fucking with interest rates. Latin American debt, the dot-com bubble, and the most recent real-estate bubble are just three in a series going back to the Fed's inception.
When they interfere with interest rates, they break the crucial information flow. When there's an endless supply of fiat currency, the market signal of the scarcity of capital is destroyed. Read and learn.
It's almost universally acknowledged that the GFC was caused by a LACK of regulation in the US mortgage market
Nope. We were regulated right into this mess. The Fed shit out a never-ending supply of magic rubber inflatobucks, holding interest rates below the inflation rate. The bubble was a symptom, not a cause.
I wish the best to Britain, and to the rest of the people of Europe in their efforts to break the power of the unelected apparatchiki who have attempted to usurp their sovereignty.
I'm sick to death of these apparatchiki pretending to be educators, throwing their "respeck mah authoritah!" tantrums. I really hope that this kid refuses any settlement that lets that asshole principal stay on the public payroll.
The way this goes is: A hunter walks one mile south, then one mile west, and he shoots a bear. He then walks one mile north, and arrives at his starting point. What color was the bear?
Answer: it was white, because the north pole is the only place where the movement described is possible.
Back when Kennedy coined the term "affirmative action", he was directing federal agencies to take "affirmative action to ensure that race is not a factor" in hiring decisions.
The result is that their student body is 60% Asian and less than 1% black, in a state were Asians and blacks make up a similar portion of the population...and the blacks at Caltech are those who can actually succeed there.
The only other thing I remember him doing were minor parts on SNL and This is Spinal Tap. I guess the Simpsons must have been pretty good over the years if he can afford to walk away from $7M/year.
We all are going to get screwed in September or October when China drops its financial bombshell which will lead to the replacement of the dollar as the international standard anyway,
Meh... Buy the right FOREX derivatives and you could make out like a bandit on that.
Slashdot Mirror
Anyone who still supported Obama after he signed that first extension to the PATRIOT act is either a hypocrite or a fucking idiot.
-jcr
It scares me that people don't understand deregulation directly lead to the situation we ended up in.
WHAT deregulation?
Banking is one of our most regulated industries, right up there with medicine and operating nuclear power plants.
-jcr
The Fed is not to blame for the predatory lending practices of the giant corporate banks
The Fed is definitely to blame for providing the banks with an unlimited amount of fiat money to lend. If the banks were limited to lending out their deposits, the interest rates would provide a natural limiting effect.
-jcr
Unlike you, I actually understand the economy
As conceited as you are ignorant. How tragic.
if you had at least two brain cells ...and bereft of a logical argument, naturally you resort to being snotty.
The Fed has caused a series of bubbles by fucking with interest rates. Latin American debt, the dot-com bubble, and the most recent real-estate bubble are just three in a series going back to the Fed's inception.
When they interfere with interest rates, they break the crucial information flow. When there's an endless supply of fiat currency, the market signal of the scarcity of capital is destroyed. Read and learn.
-jcr
You are a moron.
Coming from you, that carries no weight at all.
Fiat currency has nothing to do with the 2008 crisis.
What's your next guess?
The whole problem was caused by a huge shadow banking system that essentially allowed to use private debts as if they were a currency.
All enabled by the Fed. You really weren't paying attention, were you?
Without the Fed holding down the interest rates by inflating the currency, rising rates would have limited the pyramiding of debt on debt.
-jcr
unable to enact proper monetary or fiscal stimuli to deal with their recession
Heh. Another armchair Keynesian.
-jcr
So don't pay government wages for the next six months, like they did in few decades ago here in Finland.
An extra benefit of this plan is that a bunch of them will quit.
-jcr
It's almost universally acknowledged that the GFC was caused by a LACK of regulation in the US mortgage market
Nope. We were regulated right into this mess. The Fed shit out a never-ending supply of magic rubber inflatobucks, holding interest rates below the inflation rate. The bubble was a symptom, not a cause.
-jcr
I wish the best to Britain, and to the rest of the people of Europe in their efforts to break the power of the unelected apparatchiki who have attempted to usurp their sovereignty.
-jcr
The school owned the camera he used. Therefore all work from that camera belongs to the school.
What's your next guess?
-jcr
I'm sick to death of these apparatchiki pretending to be educators, throwing their "respeck mah authoritah!" tantrums. I really hope that this kid refuses any settlement that lets that asshole principal stay on the public payroll.
-jcr
The way this goes is: A hunter walks one mile south, then one mile west, and he shoots a bear. He then walks one mile north, and arrives at his starting point. What color was the bear?
Answer: it was white, because the north pole is the only place where the movement described is possible.
-jcr
"For every complex problem there is an answer that is clear, simple, and wrong." -- H. L. Mencken.
-jcr
Back when Kennedy coined the term "affirmative action", he was directing federal agencies to take "affirmative action to ensure that race is not a factor" in hiring decisions.
-jcr
HOWEVER, it's a private school, they can accept who ever they want to.
That would be true if they weren't taking tax money, but they do.
-jcr
The result is that their student body is 60% Asian and less than 1% black, in a state were Asians and blacks make up a similar portion of the population. ..and the blacks at Caltech are those who can actually succeed there.
-jcr
I'm fine with that. Racial discrimination is wrong, no matter who benefits from it.
-jcr
What's it to you?
-jcr
The only other thing I remember him doing were minor parts on SNL and This is Spinal Tap. I guess the Simpsons must have been pretty good over the years if he can afford to walk away from $7M/year.
-jcr
I'm guessing that you didn't know that the FBI provided the money for the truck bomb used in the first attack on the WTC.
-jcr
The laws exist to protect people from shady players
Bullshit.
The shady players are the cab cartels that use government force to exclude new competition for their shitty service.
-jcr
Tell me all about how the Keynesians predicted the last half-dozen bubbles collapsing.
-jcr
When did /. start running this kind of guilt-peddling bullshit?
-jcr
Go fuck yourself, you lying Nazi prick. I hope you die in a fire.
-jcr
We all are going to get screwed in September or October when China drops its financial bombshell which will lead to the replacement of the dollar as the international standard anyway,
Meh... Buy the right FOREX derivatives and you could make out like a bandit on that.
-jcr