The Great Depression Of 2008 - Page 5 - Mercedes-Benz Forum

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post #41 of 86 (permalink) Old 10-27-2008, 10:51 PM Thread Starter
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Exactly, it's all about federal meddling with the economy, so much meddling that it's all just taken as some sort of given.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #42 of 86 (permalink) Old 10-27-2008, 10:52 PM
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We're all Keynesians now
No, Scottish.

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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #43 of 86 (permalink) Old 10-27-2008, 10:52 PM
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If interest rate was an unchanging constant and Bretton Woods wasn't negated in 1971, I doubt this collapse would have occurred.
How can you possibly be in favor of a centrally-controlled rate? Seems to me that each and every lender should be free to set his rate at whatever level he thinks prudent, no? And each and every borrower should be free to accept that or shop elsewhere, or not borrow, no?
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post #44 of 86 (permalink) Old 10-27-2008, 10:52 PM
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We're all Keynesians now
As we always were.
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post #45 of 86 (permalink) Old 10-27-2008, 10:55 PM Thread Starter
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Unfortunately I would bet will will have to go down at least part of that same path in order to kickstart that part of the economy and get houses moving again. It is going to take that kind of big ticket movement, and the associated money transfers that go with it to get the economy fluid and a chance to recoup some of the taxpayer's investment.
There are already too many houses. Every new house now only serves to reduce the value of the homes we already own. That is the kind of redistribution of wealth that nobody needs. The housing industry should be slapped down hard, at least until the housing market stabilizes.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #46 of 86 (permalink) Old 10-27-2008, 10:57 PM Thread Starter
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How can you possibly be in favor of a centrally-controlled rate? Seems to me that each and every lender should be free to set his rate at whatever level he thinks prudent, no? And each and every borrower should be free to accept that or shop elsewhere, or not borrow, no?
Great, abolish the Fed altogether as I suggested earlier. My point was to demonstrate that Fed tinkering is largely responsible for our current predicament.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #47 of 86 (permalink) Old 10-27-2008, 11:03 PM
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...Fed tinkering is largely responsible for our current predicament.
Brother, can you spell 'Greenspoon"?
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post #48 of 86 (permalink) Old 10-27-2008, 11:11 PM Thread Starter
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Federal Reserve Abolition Act - HR 2755

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #49 of 86 (permalink) Old 10-27-2008, 11:14 PM
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Right now, it's virtually impossible to purchase gold and silver bullion/coins. Dealers nationwide have sold out even at vastly inflated markups. Meanwhile the spot price has fallen dramatically.

https://online.kitco.com/popups/lowstock.html

They do have 400-oz gold bars though, on sale now for $296,320.00 each. Nothing smaller.

All of this predicts deflation/depression.

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post #50 of 86 (permalink) Old 10-28-2008, 12:25 AM
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Yes it will be. But in some ways, if it can manage to keep the economy afloat, even barely afloat, it will be cheaper than the alternative. Then patching can start.

And as for the "share of the pie". Well, I am one of those that is working on grabbing a bit. I have four separate proposals from RFPs moving through the process right now. I would much prefer to head toward one of the Next Technology energy projects but right now, I am going to throw out as many lines as I can.

Only thing I did shut down was all the offshore options. I delivered the last one last week. So no more China or India all-nighters for a while.
Didn't realize you like to eat pork.
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