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Thread: I hope the biggest casualty of the financial crisis of 2008...

  1. #1

    I hope the biggest casualty of the financial crisis of 2008...

    ...isn't the philopshopy most of us Ron Paul supporters have on banking and monetary policy. There is a growing public sentiment that believes it was banking deregulation - and capitalism in general - that is causing this crisis, and if Obama wins in November, we could be seeing a huge government role in taking over loans, banking and mortgages. Obama is using this crisis to become a banking and credit regulator extraordinaire. Once that happens, a quest for free enterprise money will be even more dashed than before.

    I guess this just means we need to be more active than before in informing the public. The liberals who call the crisis proof that capitalism doesn't work, unfortunately they miss the whole concept and idea of capitalism.



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  3. #2
    I agree, but in this risk lies the opportunity to embrace these ideas... and if the thread that says only 28% of americans support the bailout is accurate of most people, I'd say we're on the right track... I would have assumed more would support it because of all the fear mongering.

    Mccain is no better the obama about this either. He wants to create ANOTHER alphabet soup agency to further regulate the industry!!

  4. #3
    It's this semi-regulation that is killing us. By semi-regulating, they stack the deck against us every single time. Either deregulate (my preference), or, if you MUST regulate, then for God's sake, do it fairly (ain't gonna happen).

    We cannot live in a semi-regulated economy. It doesn't work. The only answer is to start over with a free market. They have totally soiled the name of capitalism and run it into the ground. This meddling has killed every single industry that it's touched.
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  5. #4
    Quote Originally Posted by Brian Defferding View Post
    ...isn't the philopshopy most of us Ron Paul supporters have on banking and monetary policy. There is a growing public sentiment that believes it was banking deregulation - and capitalism in general - that is causing this crisis, and if Obama wins in November, we could be seeing a huge government role in taking over loans, banking and mortgages. Obama is using this crisis to become a banking and credit regulator extraordinaire. Once that happens, a quest for free enterprise money will be even more dashed than before.

    I guess this just means we need to be more active than before in informing the public. The liberals who call the crisis proof that capitalism doesn't work, unfortunately they miss the whole concept and idea of capitalism.
    McCain is on CNN calling for regulation of the industry.
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  6. #5
    yeah they are really killing two birds with one stone...

    causing all of our monetary problems with this socialist bs and then blaming them on capatalism, the only thing that could save it..
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  7. #6

    Hahahaha

    Quote Originally Posted by Highland View Post
    McCain is on CNN calling for regulation of the industry.
    If there is one act of deregulation that can be blamed for this problem (which we all know is, at its root, a problem with the Fed and monetary policy) it would be the repeal of Glass-Steagall. And that repeal was pushed by none other than McCain economic coach, Phil Gramm. After shilling for the banks in the Senate, Phil Gramm went to work for USB Bank in Switzerland. USB Bank is now in serious trouble as a result of its investments in the derivative market Gramm helped create.

  8. #7
    Quote Originally Posted by Brian Defferding View Post
    There is a growing public sentiment that believes it was banking deregulation - and capitalism in general - that is causing this crisis, and if Obama wins in November, we could be seeing a huge government role in taking over loans, banking and mortgages. Obama is using this crisis to become a banking and credit regulator extraordinaire. Once that happens, a quest for free enterprise money will be even more dashed than before.
    OT point: Since I don't watch the TV or read newspapers, I don't get big brother's "picture" as outlined in the above scenario. In other words, the TV and mass media ARE the problem. Once again, we're back to independent efforts to bypass the mass indoctrination system.

  9. #8
    Quote Originally Posted by Texan4Life View Post
    I agree, but in this risk lies the opportunity to embrace these ideas... and if the thread that says only 28% of americans support the bailout is accurate of most people, I'd say we're on the right track... I would have assumed more would support it because of all the fear mongering.

    Mccain is no better the obama about this either. He wants to create ANOTHER alphabet soup agency to further regulate the industry!!
    True, many think the bailout plan is wrong, but at the same time I think the same amount of people mistakenly think it was capitalism brought that brought the crisis on.



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  11. #9
    It's this semi-regulation that is killing us. By semi-regulating, they stack the deck against us every single time. Either deregulate (my preference), or, if you MUST regulate, then for God's sake, do it fairly (ain't gonna happen).
    Other than tearing down the separation of investment and commercial banking, the Gramm-Leach-Bliley was not about "deregulation"-hundreds of pages of new regulations were added to the act for its final passage.

    Of course, this, and other "deregulation" is all from the same man who claims this "mental" recession is "all in your head!"

    Carter Glass and Henry Steagall ought to be spinning in their graves...

    McCain is on CNN calling for regulation of the industry.
    Sure... ...but it'll likely never amount to re-building the wall of separation between investment and commercial (conventional) banking (which would effectively restore Glass-Steagall to it's pre-1999 state).
    Besides, his advisor(s) is(are) the same person(people) who brought us the botched-up "deregulation" scheme in the first place!

  12. #10
    I wholeheartedly agree that everyone is now hopping on the regulation bandwagon, and that that is every dangerous.

    I've been pointing out that the SEC has been HORRIBLE regarding their own regulation....they've ignored naked short-selling for years, and now have suspended ALL short-selling of financial companies' stocks. However, none of the financial companies had a large change in short interest as their stocks fell off a cliff, and none of them appeared on the Reg SHO Threshold list, which shows companies with a large number of 'Fail to Delivers'.

    So basically the SEC is saying that shorting can be manipulative enough to threaten the stability of the financial markets, yet they have done nothing in years to stop NAKED short-selling. Even now, there are companies on the Reg SHO list that can be naked-shorted at will, despite the obvious risk of manipulation.....the SEC is obviously only interested in protecting the large financial service companies, and is ignoring their own rules when it comes to everyone else.

    Regulation doesn't help when the regulators are corrupt. And nearly all of Congress is manipulated by big business, so why should we suddenly trust any government agency to regulate with the best interest of average americans in mind?

    The naked shorting issue is a bit esoteric and confusing for most people, but I think it exemplifies regulators' incompetence (at best) or corruption (at worst).

    We just need to keep reminding people that government is the problem, not freedom.....there are plenty of examples of that fact, and I think more people are starting to see it, though they still tend to revert to trusting government if government can present a reasonable scapegoat, and promise to attack it.

  13. #11
    That has been the plan the whole time. Why do you think there are two democrats running for office this time? Lets face it McCain is no a republican and just slightly right of Obama.

  14. #12
    Quote Originally Posted by Brian Defferding View Post
    ...isn't the philopshopy most of us Ron Paul supporters have on banking and monetary policy. There is a growing public sentiment that believes it was banking deregulation - and capitalism in general - that is causing this crisis, and if Obama wins in November, we could be seeing a huge government role in taking over loans, banking and mortgages. Obama is using this crisis to become a banking and credit regulator extraordinaire. Once that happens, a quest for free enterprise money will be even more dashed than before.

    I guess this just means we need to be more active than before in informing the public. The liberals who call the crisis proof that capitalism doesn't work, unfortunately they miss the whole concept and idea of capitalism.
    This is an awesome article by bob murphy. it explains the dillusion of our politicians.
    http://www.lewrockwell.com/murphy/murphy137.html



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