mshea

Comment Threads

• asev commented on "America's financial system was shaken to its core on Sunday."
  Admittedly, I haven't had the time to read through all these comments. But I don't suppose people have been talking about ways individuals can protect or prepare themselves for what may come? Or perhaps what we should expect in the coming months? I'm asking as someone who knows relatively little of economics, though at this point I'm wondering more about 'What now?' instead of 'Why?'. I also don't hold any stocks, though the situation is looking dire enough to consider less obvious, far-reaching repercussions....
• Cicada commented on "America's financial system was shaken to its core on Sunday."
  @88 "I propose two American states: America, which will uphold the foundation laid by its founders; and Merica, where all the predatory capitalists can pick away at the willfully ignorant, superstitious underclass as long and as hard as they please." Actually, I think you'll find that the founders set up a system much closer to your 'Merica than they did the one you're hoping to live in. Looks through the list of them, and note that half of 'em were slaveholders, the other half northeastern "big business" owners, with Ben Franklin thrown in for variety. Speculation and crashes were very...
• Ceronomus commented on "America's financial system was shaken to its core on Sunday."
  @zzjing Hardly. However, how does one "argue" or "discuss" with a person who is spouting nothing but paranoid misinformation. To hit that level of misinformation the person must either be intentionally misinformed or posturing a knowledge that they simply do not have. Tell me, how exactly does one "argue" with that other than to point out that they are incorrect or lying. I suppose I could go into a in depth explanation of why they are so far from the truth as to be breaking with obvious reality, but really....they aren't going to believe it, so why bother. I treat...
• FoetusNail commented on "America's financial system was shaken to its core on Sunday."
  No one pays taxes except citizens. Corporations don't pay taxes and shouldn't be collecting taxes for the government. All taxes come out of our pockets one way or the other. I vote for a tiered tax table without exemptions. The only way to get out of paying is if you are disabled, have no earned income, or capital gains. No taxes on SS, and no one collects SS who does not need it. This all means no corporate taxes, no property taxes, no state taxes, no inventory taxes, no estate taxes, no gift taxes, no usage fees, no license fees,...
• heavystarch commented on "America's financial system was shaken to its core on Sunday."
  This "Global Money Pool" report glosses over the growth in money supply, and we know that with fractional lending practices, the banks further multiplied the money they received many times over. All this multiplying lead to a bubble as prices got bid up when there was more money chasing the housing supply. This situation fed upon itself as the excitement about housing prices increasing motivated many people to speculate and others to get in over their heads as the belief was that the housing market would increase in value forever. Few seemed to realize that it was going up because...