Financial crisis unforeseen? - Mercedes-Benz Forum

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post #1 of 23 (permalink) Old 12-22-2008, 08:59 PM Thread Starter
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Financial crisis unforeseen?

The truth is out there...

YouTube - U.S. Economy : The Philosopher's Stone

"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 #2 of 23 (permalink) Old 12-22-2008, 10:36 PM
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So just Peter and Paul were prophets, as expected.

"Jesus!" is all we can say now.

Where were all those geniuses of economics, Harvard and Yale graduates etc.?

What were doing our elected representatives?
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post #3 of 23 (permalink) Old 12-22-2008, 10:39 PM
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So just Peter and Paul were prophets, as expected.

"Jesus!" is all we can say now.

Where were all those geniuses of economics, Harvard and Yale graduates etc.?

What were doing our elected representatives?


Answer to Q1: Gettin Rich

Answer to Q2: Gettin Richer.....
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post #4 of 23 (permalink) Old 12-22-2008, 11:04 PM
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That video is a brazen fire starter. It is a shame that it is also true. People should be outraged and rioting in the streets, calling for immediate resignations of their congressional representatives. A precedent must be set, fear must be used, power in numbers is the answer. Control must be taken, not given back to the people. The media should be ignored as they too should succumb to fear. It is time to take control and at least attempt something for the educated masses.

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post #5 of 23 (permalink) Old 12-22-2008, 11:20 PM
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That video is a brazen fire starter. It is a shame that it is also true. People should be outraged and rioting in the streets, calling for immediate resignations of their congressional representatives. A precedent must be set, fear must be used, power in numbers is the answer. Control must be taken, not given back to the people. The media should be ignored as they too should succumb to fear. It is time to take control and at least attempt something for the educated masses.


Someone please call Homeland Security, we have a terrorist amongst us.......
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post #6 of 23 (permalink) Old 12-23-2008, 07:20 PM Thread Starter
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So just Peter and Paul were prophets, as expected.

"Jesus!" is all we can say now.

Where were all those geniuses of economics, Harvard and Yale graduates etc.?

What were doing our elected representatives?
The few elected representatives who foresaw this and consistently cried foul every step of the way were ridiculed and marginalized. That is the point of the vid. Ron Paul has been screaming bloody murder since at least '02, and he wasn't alone.

"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 #7 of 23 (permalink) Old 12-23-2008, 07:23 PM
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The few elected representatives who foresaw this and consistently cried foul every step of the way were ridiculed and marginalized. That is the point of the vid. Ron Paul has been screaming bloody murder since at least '02, and he wasn't alone.
Who were the others? I'd like to add to my list of elected officials from either party who did their job, but it appears most were quite pleased with the ever expanding bubble.

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post #8 of 23 (permalink) Old 12-23-2008, 07:31 PM Thread Starter
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I'm thinking about the likes of Russ Feingold, Jeff Flake, even Dennis Kucinich... But Dr. Paul would be quick to point out that most of his true political allies over the years don't tend to last long.

"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 #9 of 23 (permalink) Old 12-23-2008, 07:49 PM
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^They ceased to be a voice for their people.
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post #10 of 23 (permalink) Old 12-29-2008, 08:17 PM
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A MarketWatch Forum post I found interesting, FWIW:
leveragedopinion

I think investing is out, speculating is in. Here's why:

Money serves two purposes, a medium of exchange, and a store of wealth.

The powers that be manage the value of our currency from the "medium of exchange" standpoint, at the expense of the "store of wealth" POV.

In the best of times, or even normal times, the FED pursues a monetary policy that can only be described as exponential, and it is fundamentally unsustainable. The only way to succeed in the pursuit of exponential growth, is to create boom/bust market cycles, wherein the bubbles are the rule, not the exception, and "buy and hold investments" will fail everybody every 7 to 10 years as the pre-programmed self-destruct sets about the equalization process.

The "low, steady inflation" model the FED tells us helps grow the economy creates a conundrum for those who seek to protect the product of their labor from the machinations of a fickle, and deceitful government, or their overlords at the FED.

In an inflationary environment, we have two choices: spend our money now, before it loses its purchasing power (consumerism), or invest it (these investments must beat taxes, fees and inflation just to break even) in markets that are guaranteed to tank eventually, leaving the 'buy-and-holder' holding only the bag.

So the only way to preserve one's wealth is to participate in markets, not just invest. Long in the bull markets, short in the downturns.

Now: how many Americans, who just want to be responsible, and have a decent retirement without counting on the governments' empty promises, have the time, or knowledge to actively manage their funds through the cycles?

Less than 5% I'd say.

So that means these cycles are really just the scheduled pillaging of hard-working, responsible Americans who seek a better future for themselves and their heirs.

Would people be so willing to put their hard-earned money away for the future if they knew that each time the cycle ended, the result would be a one time balloon payment of all of their wealth to the government to "preserve the financial system" upon which we are told we all depend?
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