Listen to this guy !

Danester · Advanced Member

Listen to this guy !

Wall Street Protester: "Stop The Money Printing, End The Federal Reserve" -- YouTube Video

http://www.youtube.com/watch?v=tFz1VVXsWRU

smed · Senior Member

I watched for maybe a minute. Somebody's feeding him a load of internally consistent crap that has no basis in reality.

Danester · Advanced Member

If you are right..... then there's no problem.

However, if the printing presses continue to run, and we keep propping up the economy, then we are surely headed for a big fall.

I'm a retired Engineer - you can only build an earth dyke up so high to hold back the water before a breach comes and the water seeks its own level.

It's the same with an economy and business cycles that typically run in booms and busts. If you do magical things to avoid the bust, then eventually the big big bust comes and all the parts and players "seek their own level".

It's a yeng and yang type thing.

Don't kill the messenger with this kid. My experience tells me he's got a better handle on it then you do.

Dick · Expert Member

There may be some thuth to what he is saying, but when someone only 1/4 my age starts spouting off, I tend to copmpare what little life he has lived, with mine, and wonder if he has any idea of what it is going to take, before the mess we are in will be fixed.

This is not going to "go away" like some big storm that tears everything up in it's path.
Until EVERYONE pays an equal share of the tax burden, lives on an adequarte retirement income, (NOT full pay, and allowances, medical for the special), there will NEVER be any semblance to a good way of doing things.
The day Bill Gates, and I pay the same percentasge of tax on our incomes, then it will be "equal". No "ifs, and, or buts", nothing less!
IMHO, when the President serves only one 6-year term, with NO RE-ELECTION.
Until the Electoral College is abolished, we will never elect a president!
Until the Law-makers are limited to a total of 20 years in The Congress, and/or Senate, things are going to continue as they are: SNAFU!

smed · Senior Member

They sure took down the NY Stock Exchange today, just like they said they would do. Uh huh. Yep.

It's not just that moron in the video... all these idiots didn't come up with this crap all by themselves. Somebody's feeding it, for some unknown reason.

Your experience, hmm? What does that have to do with what I know or don't know? You don't know shit about me, jackass.

Danester · Advanced Member

Let's see how it plays out over the next 24-months.

I hope you are right and a lot others and myself are wrong, but I think the die has already been cast long ago by the Banksters the Government.

I've voted straight Republican since Barry Goldwater in 1964 (a high school vote).... but I'm leaning toward Ron Paul this time around, who is really an "outside the box" Republican. I know he would rather be something other than a Republican, but he knows he has no chance unless he runs as a GOP candidate.

People are fed-up – both Democrats and Republicans alike.

eagames · Expert Member

People should be fed up with the democrats and republicans, they should be protesting them not "wall street".

The democrats and republicans caused the problems by the democrats growing the government & social programs and tax credits for all sorts of things and the republicans keeping the Bush tax cuts for the wealthy and not properly regulating wall street.

The democrats and republicans see the protestors as easy to mislead tools that are easy to steer into blaming someone else so both parties are trying the old "I'm with you guys" ploy to keep the anger focused on anything other than their parties. The protests should be in Washington telling them to cut the spending and crazy tax loopholes and make the government join the normal people and use the same healthcare and retirement (their own IRA or self funded 401K) and social security as normal people instead of their own special government programs. As long as the protestors are out yelling at other people it won't help. Wall street didn't make the rules, they only use the rules.

Dick · Expert Member

Ed, i agree. I have always been "Republican< and while i didn't agree with everything they did, it was close enough to accept.
I don't think SMED believes how old I am.
Maybe this will give him a hint: In 1930, I was selling subscriptions to the "Ladys Home journal, and small tins of Cloverine salve. We also enjoyed having rutabega, and turnips, rhubarb and artichokes for dinner. That is about all Dad could afford.

fiddle-fart · Veteran Member

On Dec. 23rd, 1913, after everyone had gone home for the holidays. A small group of Republicans voted in, with no opposition the federal reserve bank. It is ran, outside of the goverment, which is controlled by the richest people in our country. Beneke is just a scape goat and the "press man" for those people. The people behind the federal reserve loan money to our goverment to which we pay interest back too.
The politicians that call "social security" a ponzi scheme are looking in the wrong place and IMHO, the federal reserve sounds like a loan shark, mafia backed ponzi scheme to me

Danester · Advanced Member

Wall Street and the Politicians are intertwined. Case in point - Goldman Sacks’ trillion dollar bailout by Paulsen (no relationship to me) acting as a government official, but actually a "Wall Street Upped" guy.

No, the young kids (actually I see a lot of baby boomers in the crowds) are right to be out in public protesting - be it Wall Street, your main street, or Washington DC.

The Japanese and Chinese have made comments in the past that the USA doesn’t make anything anymore, and that we only "play with money'. They are right. These young Wall Street sales brokers are very disturbing to see in action. They conduct themselves like a boiler-room scam where sales and deals are to be made by any means. I've see it firsthand. That's how they packaged all those bad Mortgages and sold them to sucker. Then we bail them out so they can do more scamming!

Yes, Wall Street and their partners the Federal Reserve and the Federal Government should all be the target of our wrath. A couple a day ago that “Pizza Guy” GOP candidate for president was spouting off “it’s not Wall Street's fault” just to be talking – Now everyone is picking up on it and saying it without really thinking about it.

eagames · Expert Member

I agree that the people should be disgusted with wall street, my point is that wall street is what is. The Feds are paid by taxpayers to regulate it not to back it's risks with the taxpayers money so I think the solution is getting the Fed to stop shifting the risks to the taxpayers while wall street keeps the gains. I doubt wall street is going to listen and gain morals but the Fed might listen and shift who it backs and who it doesn't back in the future.

Consider that investing offers possible high gains but the risk is that it can also be a big loss.
The FDIC was created to back the savings banks so people could know their money was safe but the Fed has included other institutions in the coverage. Notice that Goldman, GE etc... sell CDs and they are FDIC insured but those institutions are not exactly savings banks. They need to let the high risk institutions play their game with investors money and carry the risks. AIG was never insured but it got bailed by taxpayers.
The banks should be loaning the money they get for houses but doing it safely. By making Fannie and Freddie to take those packaged loans from the banks meant that the banks made a cut by starting them so they didn't care if they were safe. Then Fannie and Freddie are backed by taxpayers.

Other nations did not see the result of the government backing crazy things with taxpayer money. The EU is acting like the US Fed. Greece sells risky bonds that pay almost 100% interest. If someone buys a 100% interest bond they know it's due to the risk level. The bonds from stable EU countries pay only a few percent. Now those stable countries are backing those high interest Greek bonds with taxpayer money. The reason just like the problem in the US is those governments are protecting their own wall street guys that hold risky Greek bonds. It's the same deal as in the US, the taxpayer is taking on the losses from the high risk investors. High risk investors don't split the gains when things go well but when things flop the governments bail them out with taxpayer money.
Yes, be disgusted by the big investors but it's a government problem that they keep dumping the losses on the taxpayers.

They need less tax loopholes. They play a new game, instead of a flatter income tax system they keep talking about "fair tax" or the pizza guy and his plan. I think it's 9% corporate and 9% income and 9% consumption. The problem with those is it adds consumption tax. That's not fair for people with savings that already paid taxes when they worked. They get taxed again by the consumption tax when they spend their already taxed savings. A consumption tax makes it like prohibition or the drug wars. Cartels will be smuggling every item to be sold on the street without the consumption tax. Rich guys will buy things out of the US to avoid the consumption tax. Only the normal people will be paying it when they shop and pay consumption tax along with sales tax. They need a simpler change, cut out all of the existing loopholes, deductions, credits but keep it based on income. Instead of a 9-9-9 tax make it a 9% corporate tax and keep the income tax based system but without deductions, loopholes, credits and don't add a consumption tax. Make it simpler.

Dick · Expert Member

Ed, I had only heard the 9-9-9 thing once, and had no idea about what it was.
I do agree that the flat tax should be the law of the land, but a consumers tax is ouble taxation!
I believe we fought a war, on that account, sometime back.
Why should we have to pay tax when we spend it? We have to buy, to survive, and they figure we don't have an option, so "stick it
them"!

{{The Japanese and Chinese have made comments in the past that the USA doesn’t make anything anymore, and that we only "play with money'. They are right!
The reason they are right is due to the GREEDY negociators at the barganint tables, when it comes time to sign a new contract! The "Unions' want to work a 20-hour work week, and receove 40 hours pay. The only result is to drive industry off-shore!

Dick · Expert Member

If they would just consider living on what they have been receiving for the term of the last contract, and actually work a little harder, for the same money, but better med benefits for the family, and allow the management to FIRE the non-producers, and slackers, as wellas the theives, then they, (the workers0, would have it better.
Unions are fine, and serve a good pirpose. The ones who negociate are the ones who like the "self-serving Politicians", want everything, and pay, or give nothing in return!

eagames · Expert Member

Article about the 999 tax plan:

http://www.latimes.com/news/nationworld/nation/la-na-cain-999-20111014,0,6308614.story

eagames · Expert Member

Article about who the public blames:

http://www.usatoday.com/news/nation/story/2011-10-17/poll-wall-street-protests/50804978/1