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View Full Version : A perfect example of America's complete lack of understanding on economics!




mconder
09-19-2008, 12:29 PM
There is a religious blog I visit that has a lot of very well educated posters. Notwidthstanding this fact, it's amazing the complete lack of understanding that even educated people have regarding the current financial crisis. I see posts like this one time and time again:


There is a new comment on the post "Good advice for troubled economic times".
http://www.millennialstar.org/2008/09/18/good-advice-for-troubled-economic-times/

Author: Seth R.
Comment:
There's been a lot of ignorant or misguided borrowing.

But it cuts both ways. The lenders have also been utterly irresponsible in who they lend to. And the free market simply fails to incentivize such lenders to lend responsibly.

It's time to reverse deregulation.

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dannno
09-19-2008, 12:41 PM
The media is brainwashing everybody into thinking we need more regulations.. I'm seeing it all over on other messageboards.

The regulations will only benefit those who make the regulations, and it is essentially banking interests who will be making these new regulations.

Since it is a religious forum, you should explain to them that the only regulation we need on banks is to stop from allowing them to counterfeit money. That is ultimately the reason why our economy is tanking. Everything else is an extension from the fact that the FED is allowed to create money from nothing and then collect interest on it. That is the root of the housing crisis as well as the credit derivatives debacle. Banks counterfeit money and literally steal wealth from others who are responsible savers or on fixed incomes.

The answer is in the constitution. Our Federal Government has the authority in the constitution to print free money that is not loaned at interest.

You might also post a few verses about usury.

Truth Warrior
09-19-2008, 01:41 PM
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.
Henry Ford

Indy4Chng
09-19-2008, 01:45 PM
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.
Henry Ford

I know you have posted it numerious times... but it is my favorite quote I think I have ever seen. This would be a close second, I am paraphrasing:

Those who would sacrafice liberty for security will get neither and deserve neither. Ben Franklin

Truth Warrior
09-19-2008, 02:05 PM
I know you have posted it numerious times... but it is my favorite quote I think I have ever seen. This would be a close second, I am paraphrasing:

Those who would sacrafice liberty for security will get neither and deserve neither. Ben Franklin
:cool: Thanks! :)

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." -- Ben Franklin

;)