quote:

Originally posted by pkcRAISTLIN yeah, sorry. capitalism isn't at all known for business cycles, and the evil, privately-run federal reserve is at the heart of it, somehow. oh, and internet detectives know a whole lot more about economics than paulson and bernanke combined.

Bout time you realized the truth.

My job is done here.

quote:

Originally posted by Capitalizt Probably the same place you pulled the 10 year figure from Obviously we are speculating since we don't know what will happen if we adopted a laissez faire approach. It's never been done in a modern economy.. The closest we came was the 1921-23 recession/depression. It was a miserable contraction and government intervention was minimal (compared to today at least). The government allowed private wage rates to fall and companies to go under. Conditions were ugly but the economy reached a bottom and recovery began in in less than 3 years. http://en.wikipedia.org/wiki/Post-WWI_recession http://en.wikipedia.org/wiki/1921_recession

I pulled the 10 year figure from historical data. You haven't got anything to support your speculation. In fact, it wasn't until the 1950's when the market fully recovered from the Great Depression. The Great Depression is the perfect example of what happens when the economy systemically collapses. That's exactly what happens in your "market takes care of everything" hypothesis. It's clearly wrong.

krypt..in case you've forgotten the late 20s/early 30s were full of radical government intervention and experimentation..tons of tarriffs, subsidies, wage freezes, price controls, tax hikes, regulatory changes, and dozens of other crap that most certainly prolonged the corrective process. That is the opposite of a "market takes care of all" philosophy.

quote:

Originally posted by pkcRAISTLIN yeah, sorry. capitalism isn't at all known for business cycles, and the evil, privately-run federal reserve is at the heart of it, somehow. oh, and internet detectives know a whole lot more about economics than paulson and bernanke combined. how many economics degrees do you have again? lols.

It's a bit ironic that Wall Street funded tech companies have given voice to so many people that hate the system that made it possible for computer costs to come down so much that everyone has a computer & internet. I remember when my shitty desktop ran me $3K in 1998 and now I can get something with 20x memory & tons more features for 1/5 of the cost.

___________________
"Go back to bed america your government is in control
Here's American Gladiators, here is 56 channels of it,
Watch these picturary retards bang their fuckin' skulls together and congratulate you on living in the land of freedom,
Here you go America you are free to do as we tell you
We want your soul
Your cash, your house, your phone, your cash, your house, your life" -Adam Freeland - We Want Your Soul

quote:

Originally posted by Capitalizt krypt..in case you've forgotten the late 20s/early 30s were full of radical government intervention and experimentation..tons of tarriffs, subsidies, wage freezes, price controls, tax hikes, regulatory changes, and dozens of other crap that most certainly prolonged the corrective process. That is the opposite of a "market takes care of all" philosophy.

Riiiight rampant demand of the 1920's was so under government control! And when it all came down, the bank failures were also the government's fault! Everything was the Fed's fault! What nonsense. Margin accounts of just 10%; 1:9 leverage ratio. Yea, that's radical government intervention right there!

quote:

Originally posted by Groundhog Boy It's a bit ironic that Wall Street funded tech companies have given voice to so many people that hate the system that made it possible for computer costs to come down so much that everyone has a computer & internet. I remember when my shitty desktop ran me $3K in 1998 and now I can get something with 20x memory & tons more features for 1/5 of the cost.

It's not the system that I dislike but rather those that have abused it.

Perhaps you weren't talking about me, though. Derrr. Nevermind.

quote:

Originally posted by Krypton Riiiight rampant demand of the 1920's was so under government control! And when it all came down, the bank failures were also the government's fault! Everything was the Fed's fault! What nonsense. Margin accounts of just 10%; 1:9 leverage ratio. Yea, that's radical government intervention right there!

No..that would be fed intervention

The money supply was expanded well beyond the country's gold reserves in the 20s. That's part of what led to the bank runs and it's certainly what allowed such ridiculous amounts of margin credit to be extended to investors.

quote:

Originally posted by Capitalizt No..that would be fed intervention The money supply was expanded well beyond the country's gold reserves in the 20s. That's part of what led to the bank runs and it's certainly what allowed such ridiculous amounts of margin credit to be extended to investors.

Hey Capitalizt, if you like studying our country's financial history then you might enjoy this:

http://www.mises.org/money/4s0.asp

quote:

Originally posted by gallantrybot Perhaps you weren't talking about me, though. Derrr. Nevermind.

I'm not. I was just on Digg...

___________________
"Go back to bed america your government is in control
Here's American Gladiators, here is 56 channels of it,
Watch these picturary retards bang their fuckin' skulls together and congratulate you on living in the land of freedom,
Here you go America you are free to do as we tell you
We want your soul
Your cash, your house, your phone, your cash, your house, your life" -Adam Freeland - We Want Your Soul

I've memorized that entire site trancer

quote:

Originally posted by gallantrybot Perhaps you weren't talking about me, though. Derrr. Nevermind.

I'm not. I was just on Digg...the populist stupidity over there is at an all-time high.

___________________
"Go back to bed america your government is in control
Here's American Gladiators, here is 56 channels of it,
Watch these picturary retards bang their fuckin' skulls together and congratulate you on living in the land of freedom,
Here you go America you are free to do as we tell you
We want your soul
Your cash, your house, your phone, your cash, your house, your life" -Adam Freeland - We Want Your Soul