By: Malor
Now, my question is: is your opposition to the bailouts a philosophical/ideological one, or a pragmatic one? Um, well, kind of a combination of both, I suppose. The biggest reason is simply that they...
View ArticleBy: clavdivs
I suppose they think bare survival circumstances are impossible now. I don't get why they find the prospect ridiculous. Why not? It happened before during the Depression, and numerous times through out...
View ArticleBy: The ____ of Justice
Malor and Asparagirl, thank you so much for your in-depth comments. It's good to know there's people out there who are really paying attention and thinking of actual cause-and-effects, as opposed to...
View ArticleBy: orthogonality
"This much I'm sure about: the most important thing is to try to stop the bailouts. We have to stop going into debt. Debt is killing us. Debt is the fundamental problem, and why everything is...
View ArticleBy: Malor
orthogonality: So, look, are you saying that I'm dead in a food riot in five years, in a DP camp in ten, in a tenement in twenty, or that I live out my life in small house with internet service but no...
View ArticleBy: oaf
FDR closed all the banks and the markets for about a week. And then, two months later, the FDIC was created.
View ArticleBy: Asparagirl
"How likely is [a bank holiday]—really—to happen to all U.S. financial institutions simultaneously?" It happened 76 years ago today, in fact -- FDR closed all the banks and the markets for about a...
View ArticleBy: butterstick
Thanks for that hom, found this chilling: As Geithner strives to address the financial crisis, advance Obama's agenda and work with foreign leaders to stave off economic disaster, he's assembled a...
View ArticleBy: afu
I still get a little lightheaded everytime I realize that AIG still has its AAA rating... I'm rather lightheaded because I just found out that the former head of AIG, Maurice Greenberg, is...
View ArticleBy: butterstick
I think a lot of what the Fed is doing is perception management: attempting to look like they are in control of the situation. I still get a little lightheaded everytime I realize that AIG still has...
View ArticleBy: 7life
I think a lot of what the Fed is doing is perception management: attempting to look like they are in control of the situation. In other words, trying to prevent panic I agree fully with this point....
View ArticleBy: oaf
suppose one day later this year there is a bank holiday, and no one is allowed to withdraw money from any US bank for a few weeks while some latest crisis involving their books is sorted out How likely...
View ArticleBy: jckll
food riots are possible I have my doubts that the infrastructure is going to be standing at the end of this I'm getting together with other cooks and canners and growers and ranchers, and we'll trade...
View ArticleBy: Asparagirl
what's your take home point? That's a really good question. There are things people can be doing right now to try to weather the shit that's coming. I'm sorry we doom-and-gloomers generally don't bring...
View ArticleBy: afu
Our financial system didn't fail because it was overlevered. It failed because it was uncreative That's just bullshit. Overleverage was the precise reason the financial system failed, to be more...
View ArticleBy: dejah420
Ya know...in the nigh onto a decade that I've been on this site, I don't think Asaparagirl and I have ever agreed on anything...in fact we've been pretty diametrically opposed to most things, but on...
View ArticleBy: ryoshu
ornate insect, The Market Ticker has a post about the GE situation. Denninger has been more right than wrong about this sort of stuff.
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