Re: Wonderin' how y'all are doin' commerce-wise


"Moka Java" <rtwatches@xxxxxxxxxxxxx> wrote in message news:6l4naaF96v73U1@xxxxxxxxxxxxxxxxxxxxx
Jack Denver wrote:
Looked kinda stale to me - was mostly about "high" oil prices. Now oil is back under $90/bbl, so the market seems to have corrected that "crime" in a matter of weeks.

Stale? Perhaps but it's nice to see the history of how we got to where we are now and who made what and how they made it. At a minimum it might give the lynch mobs some guidance when they're out and about with their torches and pikes.

R "the first thing we do is kill all the brokers" TF


Shouldn't that be "the first thing we do is KILL all the lawyers?" lol!
Craig.




If you want to point blame fingers, look at the "Community Re-Investment Act" which strongarmed banks to lend to unqualified borrowers in the name of "increased home ownership" and look at Fannie Mae, run by Obama's very good buddy Franklin Raines that issued TRILLIONS of government backed bonds to buy these now worthless mortgages. Raines also cooked the books to up his personal bonus payments by tens of millions. The idea that this was all "free market" excess and that what we need is more political involvement in the the housing and credit markets in order to "fix" the problem is laughable in light of this history.



"Ed Needham" <ed@xxxxxxxxxxxxxxxxxxxxx> wrote in message news:RJ6dnfk459lJJXfVnZ2dnUVZ_tHinZ2d@xxxxxxxxxxxxxxxx
http://leoweekly.com/?q=node/7893
An incredible 'finger pointing' article with a ton of useful information.
Interesting that Phil Gramm is so involved with McCain's campaign.
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Ed Needham (not much of a political or economic scientist)
"to absurdity and beyond!"
http://www.homeroaster.com
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"alan" <in_flagrante@xxxxxxxxxxx> wrote in message news:ruyGk.1913$fD.1683@xxxxxxxxxxxxxxxxxxxxxxx

"Jack Denver" <nunuvyer@xxxxxxxxxxxx> wrote in message news:qeCdnXtKgvVFzXfVnZ2dnUVZ_rbinZ2d@xxxxxxxxxxxxxx

<RoqueJA> wrote in message news:paqie4dl71anpc1p4rtjuqa5dh59p1abgi@xxxxxxxxxx
On Sun, 5 Oct 2008 13:48:26 -0700 (PDT), bernie <bdigman@xxxxxxxxxx>
wrote:

snip
I know a lot of the knee-jerks here on alt.coffee >
snip

Know thyself!

Business cycles are a natural and inevitable aspect of capitalism. Everyone enjoys them on the way up, but they are a lot less fun on the way down. You enjoy the party and keep asking for drinks, but the next day when you wake up with a hangover, naturally you curse the bartender who sold you the drinks. Much easier to blame someone else than yourself. The government cannot repeal the laws of economics any more than they can effectively outlaw hangovers . . . (rest of Jack's pontificatory bull*** snipped)

The government may not be able to "repeal the laws of economics" as you say, but the government *can* (and has done so in the past) *regulate* that unbridled free-from-all-restraints capitalism of which Denver is so unashamedly enamored.

Just about every economist agrees that the mess (or "cycle" if you prefer Denver's ingenuous term) we find ourselves in can be laid directly at the **lack** of regulation of the mortgage and the credit default slot industries. For Denver, however, this lack of regulation is necessary for the "magic" of unrestrained capitalism on its ever-bumpy "cyclical" ride ---- if you fall off the gravy train during that ride, well, tough *** ----- that's Denver's "capitalism in action" (by his definition "a good thing").

I am happy for Denver that things are working out so well for him.
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alan







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