Jump to content
  • Announcements

    • olyclimber

      WELCOME TO THE CASCADECLIMBERS.COM FORUMS   02/03/18

      We have upgraded to new forum software as of late last year, and it makes everything here so much better!  It is now much easier to do pretty much anything, including write Trip Reports, sell gear, schedule climbing related events, and more. There is a new reputation system that allows for positive contributors to be recognized,  it is possible to tag content with identifiers, drag and drop in images, and it is much easier to embed multimedia content from Youtube, Vimeo, and more.  In all, the site is much more user friendly, bug free, and feature rich!   Whether you're a new user or a grizzled cascadeclimbers.com veteran, we think you'll love the new forums. Enjoy!
Sign in to follow this  
Mal_Con

Economic News

Recommended Posts

THey still want to bestow these rich incompetents with a fat capital gains tax cut; the most regressive there is. They are, after all, Republicans up for re-election.

Edited by tvashtarkatena

Share this post


Link to post
Share on other sites

here is something to think about.

Team Obama:

Paul Volckler- as treasury secretary whipped out inflation

Robert Rubin- erased deficit

Austan Goolsbee, Laura Tyron, Larry Summers are the others.

here is a team McSame:

Phill Gramm- no commentos

Carly Fiorina- fired from a position of a CEO of HP

Douglas Holtz-Eakin- head of CBO and Bushes senior chief economist.

The choice is simple: McSame is yet another tax spending conservative, who wants to continue with failed trickle-down economics.

Share this post


Link to post
Share on other sites

an0ther manufactured depression. very , very profitable.

 

"tell them its the republican's fault".

 

Thomas Jefferson's Warning To America

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

 

now , HOW we GONNA DO THAT? america's TERMINAL CANCER is curable.??

 

Share this post


Link to post
Share on other sites

not exactly the somber attitude these people should be presenting IMO

 

t83gx1.jpg

 

looks like they just got done feasting on the remains of our economy

Share this post


Link to post
Share on other sites

They won't be smiling when the next few rescue packages need to be dealt with in the near future. You see, the patient is dead and they are using a band to revive him.

Share this post


Link to post
Share on other sites

The FDIC is the last thing in the world the State's gonna let get swamped. They'll try to print their way out before risking the kind of upheavals likely in the event of widespread bank runs, mutual fund lockouts, etc.

Share this post


Link to post
Share on other sites

Citigroup obviously bought low with regards to Wachovia keeping in mind that a bailout for bad debt is right around the corner. We're seeing a tremendous consolidation in finance. Will it help stabilize the financial landscape, or make things worse?

Share this post


Link to post
Share on other sites

On one hand consolidation amortizes the risk of a bank run across a larger pool of deposits. Given the failure of several enormous finance houses recently, however, I don't think anyone can argue that gargantuan size is any protection against collapse. Not that I have that problem.

 

Consolidation creates even more powerful entities to lobby for deregulation, as well as a larger houses of cards that may take greater chunks of the economy down with them.

 

We might just see the nationalization of the investment finance industry in the near term. Interesting.

 

 

Edited by tvashtarkatena

Share this post


Link to post
Share on other sites

 

We might just see the nationalization of the investment finance industry in the near term. Interesting.

 

 

the reverse is happening!! wtf

 

 

Share this post


Link to post
Share on other sites
Dow is down 600. Jebus.

 

Silver lining, although it may not be much at this point: Bye bye McCain.

 

Everyday is looking better and better to buy some more stock! Just a wee bit longer to hold out....

Share this post


Link to post
Share on other sites
May not be a totally bad thing as there may be some money for a massive public works program after January 2009

 

Agreed. Let the pirates go down with their ship and the casino economy. We should spend our taxes on building sustainable infrastructure, alternative energy tehnology and a manufacturing base.

Share this post


Link to post
Share on other sites

Everyday is looking better and better to buy some more stock! Just a wee bit longer to hold out....

 

Yep

 

You playas are either gonna win the fucking lotto in the next few days or you'll be holding your soup cup out with the rest of us - so at this point what do you have to lose by going all in?

Share this post


Link to post
Share on other sites

The Bush looks like he has aged 20 years in the last two weeks.

Share this post


Link to post
Share on other sites
-Are you suggesting that increased competition in the telecommunications business would be bad for the consumer?

 

I am saying that deregulation in telecoms resulted in the building of unnecessary parallel networks that competed for too few customers, which lead to unrealistic price wars, frauds, score of bankruptcies, mass loss of jobs, industry consolidation, and new monopolies (...). Competition is good but if it profits only speculators and crooks while it destabilizes industries, it is not wanted. Moreover, in the case of cable for example, the infrastructure defines a natural monopoly, which should therefore be regulated.

 

-What, in your opinion, determines both real wages and real wage growth? There seems to be a theory embedded in your final paragraph, but it would be helpful if you'd make that explicit.

 

No, there is no theory involved since it is a statement from first principles: budgets depend on what comes in and what goes out. You, on the other hand, have a theory and it doesn’t work because, despite the books being thoroughly cooked (notably on inflation data), statistics show that purchasing power has decreased over the last 30 years for the overwhelming majority of Americans, which means that deregulation has not lead to an increase in purchasing power for anyone relying on wages to earn a living. On the contrary deregulation has enabled the casino economy of today where all economic growth, most of it virtual, debt-ridden or financed by taxpayers, is sucked by the upper 0.1% of the income brackets. In how many countries has deregulation and laissez-faire led to complete ruin in the last 30 years?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

×