| | | 
11-14-2010, 06:06 PM
|
#46 | | Member
Join Date: Jun 2006
Posts: 744
|
Good god there are solutions before we do any Draconian stuff. Why not require each worker in America to buy new Series E savings bonds in their 401Ks to help finance the debt. Why can't we delicense from the securities industry and our exchanges any hedge fund that purchases foreign debt beyond a certain level?
| 
| Reply
| |
11-14-2010, 06:09 PM
|
#47 | | Member
Join Date: Jun 2006
Posts: 744
|
Why not put an asset tax on any non-depository fun and games financial institution like hedge funds and private equity firms? Come on you 18 geniuses, think outside the box.
Why can't we prosecute non-depository securities firms for fraud under the RICO (RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS) STANDARDS to prevent future financial frauds and recover funds from the 2008 financial crisis to reduce the deficit? Why do we leyt Wall Street have profits with taxpayer money and taxpayer assumption of risk?
Last edited by vienna man; 11-14-2010 at 06:18 PM.
| |
| Reply
| |
11-14-2010, 06:11 PM
|
#48 | | Senior Member
Join Date: Aug 2004
Posts: 5,661
|
We are probably going to inflate to lessen the burden of the debt. That is what the FED wants to do.
I don't like it...but people don't want to pay for their government services....by taxes...so they will pay by inflation.
But the US doesn't have to hyperinflate or default.
The FED's track record isn't very good. Bernanke is a little slow to react. If we get inflation, I am worried the FED won't contract the money supply in time.
I am not set up for inflation over 4%, so I am talking my own book. I
don't think inflation above 3% is good for the middle class either. Especially if we have 3% inflation, and real interest rates below zero.
But maybe, I am wrong. The middle class owns homes and has debt
coming out of its pores. A large segment of the US population needs home prices higher. Bankers need higher home prices too.
I think in the long run, inflation should be 0 to 1 percent....but what do I know? The FED wants 2% inflation. (i think the FED wants higher inflation, but is afraid to state that). Of course, the FED is worried about the debt.
Last edited by dstark; 11-14-2010 at 06:21 PM.
| |
| Reply
| |
11-14-2010, 08:21 PM
|
#49 | | Senior Member
Join Date: Apr 2009
Posts: 4,364
| Quote: |
Of course, the FED is worried about the debt
| The FED is worried about asset prices and the balance sheets of the large banks, with whom Bernake and Geitner are having a passionate love affair at the expense of the tax payers.
Of course, one of the unintended consequences of protecting the balance sheets of the banks may be the devalued dollar, which may lead to more jobs and inflating out of some of the treasury debt. We shall see.
| |
| Reply
| |
11-14-2010, 09:39 PM
|
#50 | | Member
Join Date: Jun 2006
Posts: 744
|
poet girl has it right. The Deficit Commission, Geithner and Bernanke are just tools of the large Wall Street banks.
Until RICO prosecutions have been completed and recoveries are known and made from AIG, Goldman, Morgan Stanley etc., and the hedge fund industry, the Deficit Commission should take a long vacation. THis should be coupled with a coordinated asset tax program that is aligned to prevent capital fight form our country through cooridnation with European Community, and Japanese regulators.
Last edited by vienna man; 11-14-2010 at 09:48 PM.
| |
| Reply
| |
11-14-2010, 10:05 PM
|
#51 | | Junior Member
Join Date: Mar 2006
Posts: 242
|
exactly why would europe or japan want to stop capital flight from the u.s. they are the guys who want capital inflows right now.
| |
| Reply
| |
11-14-2010, 10:14 PM
|
#52 | | Member
Join Date: Jun 2006
Posts: 744
|
Easy, Europe and Japan need to have a real fear that a US government will hit them with tariffs and exchange controls if they don't play regulatory ball. Looking at the US market and its size, I don't think we would have to go beyond the jawboning. The US just has to stop being stupid.
| |
| Reply
| |
11-15-2010, 01:44 AM
|
#53 | | Member
Join Date: Oct 2008
Posts: 678
|
When the Fed can just wish it into existence, is it really "capital"?
| |
| Reply
| |
11-15-2010, 01:59 AM
|
#54 | | Senior Member
Join Date: Feb 2007
Posts: 3,301
|
At some point, we will probably end up using our military superiority to leverage financial concessions from our rivals. You could call it 'protection money'.
| |
| Reply
| |
11-15-2010, 02:12 AM
|
#55 | | Member
Join Date: Nov 2009
Posts: 350
|
Of course. Why else do you think we have troops positioned all over the world? Just our current presence is an intimidation tactic.
| |
| Reply
| |
11-15-2010, 09:30 AM
|
#56 | | Senior Member
Join Date: May 2007
Posts: 10,068
|
I'm waiting for the emergence of a populist protectionist leader/third party. The Tea Party could have taken that course, but it's apparently been diverted into a wholly-owned subsidiary of the Republican right.
| |
| Reply
| |
11-15-2010, 02:42 PM
|
#57 | | Junior Member
Join Date: Mar 2006
Posts: 242
|
Hey, vienna man, how many companies in this country are exporters and would just love a trade war so you get your capital controls? You can't cut off your right arm to give the left arm what it irrationally thinks it needs.
| |
| Reply
| |
11-15-2010, 02:57 PM
|
#58 | | Junior Member
Join Date: Oct 2009
Posts: 41
| Quote: |
I did it with 58% tax increases and 42% spending cuts. I chose all the defense cuts that involved things, but none of the defense cuts that involved people.
| Mine was pretty much identical. Why can't more people think like us?
| |
| Reply
| |
11-15-2010, 03:36 PM
|
#59 | | Junior Member
Join Date: Mar 2006
Posts: 242
|
Hmm, 16% tax increases, 84% cuts. Didn't even have to raise income tax rates. Maybe this isn't as hard as everyone makes it seem.
| |
| Reply
| |
11-15-2010, 03:46 PM
|
#60 | | Senior Member
Join Date: Aug 2004
Posts: 5,661
|
It's real easy to cut the other guy......
| |
| Reply
| All times are GMT -4. The time now is 10:23 PM. |
