Republicans Are Obsessed With Deregulating Wall Street

If it weren't for the decisions she made while in charge of HP they wouldn't have a 30% enterprise market share today. The ones who fired her have said they made a mistake...

a reply to: Aazadan

originally posted by: raymundoko
If it weren't for the decisions she made while in charge of HP they wouldn't have a 30% enterprise market share today. The ones who fired her have said they made a mistake...

Their market share increased but their profits didn't. All they managed to do is grow (through acquiring Compaq, not their own product), but their profits dropped as a result. That's not a positive thing.

originally posted by: Krazysh0t
a reply to: Semicollegiate

Oh stop! First off, the Great Depression was caused by a deregulation of banks. The housing bubble bust was also caused by the same thing. Then laying BOTH world wars at the feet of central banking is just dishonest. There were more factors involved than just that that caused those wars. Same with the Cold War and Vietnam War.

In the 1920's the Fed decided what the interest rate and the amount of money in circulations should be. The Fed guessed wrong, inflated in the 1920's, thereby causing widespread malinvestment and useless assignments of resources.

The result was the Crash of 1929. Then the Fed and the gov tried to micromanage the economy and that cuased the decade of the Great Depression.

In 1914 there was not enough gold backed money in the world to borrow for WW1. Gold is limitedin amount and so gold backed money is limited. Fiat money is infinite, and fiat money was used to pay for WW1. Without fiat money, WW1 would have stopped in 1915 for lack of gold to pay for it. Germany would have won and went home, France would have paid millions or not, no Russian Revolution, and WWII never would have happened.

WWII was also paid for by fiat money. Basically WWI and WWII were paid for by inflation.

Central banks are the sine qua non of social catastrophe.

Socialism needs and causes central banking, therefore socialism is the sine qua non of social catastrophe.

a reply to: Edumakated
The S&L bubble was caused by deregulating the thrift industry. It passed two laws, the Depository Institutions Deregulation and Monetary Control Act of 1980 and the Garn–St. Germain Depository Institutions Act of 1982.

The last recession, with all of the toxic loans, that ultimately caused it was due to deregulations passed by congress, and rewriting of the banking rules to allow for anyone who breathed to be able to take out a loan that they could not afford.

Those 2 alone should be a good indication that deregulating of the industry is a bad idea, as people will use such to try to scam the system and when it fails, the saddest part of all is that it is the very tax payers who have to pick up the pieces and pay for the bail out, while those who caused it, from the lawmakers who passed such to the people who caused it, get off scot free.

But we already have socialism ......for the rich.
They live well on the backs of all us little capitalists who must compete.
All small businesses need to go to Congress and threaten to crash the economy unless Congress gives them a trillion $.

The Hopeless Hopefuls? -
What a pack of losers, our choices for leadership looks exhausted of anyone worth pulling the lever for.

originally posted by: Semicollegiate
In 1914 there was not enough gold backed money in the world to borrow for WW1. Gold is limitedin amount and so gold backed money is limited. Fiat money is infinite, and fiat money was used to pay for WW1. Without fiat money, WW1 would have stopped in 1915 for lack of gold to pay for it. Germany would have won and went home, France would have paid millions or not, no Russian Revolution, and WWII never would have happened.

Yet again, this is not true.

1 dollar is worth 20 ounces of gold.

Now I don't have enough dollars, so I debase the currency and state

1 dollar is now worth 10 ounces of gold.

It's still gold backed but I've doubled the number of dollars in circulation. And no, this does not double prices. This is how the US acted from the time of the gold confiscation until the time people could own gold again. People couldn't own gold, but the dollars value was pegged to an exchange rate that we could arbitrarily manipulate.

Incidentally this is how China currently treats their currency.

Thread closed. for review.

Reaffirming Our Desire For Productive Political Debate (REVISED)

You are responsible for your own posts.
We expect civility and decorum within all topics.
Community Announcement re: Decorum