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  • Marc Faber: 'It Will All End in Disaster' [View article]
    "Obama's proposed programs are less "socialistic" than anything in the UK or Western Europe and they were doing great until they bought into our mortgage backed securities. It was our laizzez faire capitalism that has brought them down along with us."

    You should look up the defintion of laissez faire. Our government has been intervening in our capital markets to an escalating degree throughout the century. Government has consumed more 40% of worker's incomes, it has depegged and inflated our currency, it has set up various social programs from social security to medicare, it has regulated housing industries, loans, interest rates, etc etc. We did NOT have laissez faire capitalism (if we did, one of hte biggest contributors to housing woes, Freddie Mac & Fannie Mae would not have been subsidized by tax dollars).

    Also, to a previous post, Hoover was a maniacal interventionest. The guy passed the Smoot-Hawley Tariff Act... how can anyone remotely call this guy a free market capitalist?! I don't know whether to laugh or cry at such commentary.
    Mar 26 09:34 am |Rating: +17 -6 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    eddie6442:

    Market value is what the market is willing to pay. If the government tells you, or allows you to state that your House is worth $500,000, yet no one is willing to pay more than $300,000... then you're house is worth $300,000. Of course, if YOU perceive it to be worth more, than don't sell it. But the Market perception will still be that it's worth $300,000, and rescinding mark to market isn't going to make your house worth more. That applies to ANY asset.

    If rescinding 'mark to market' would have any effect, then McDonalds should just change its dollar money to a $50 menu instead. It'll make 50x more money, right? Of course, like your rant, that's at best wrong and at worst absurd.
    Feb 17 09:11 am |Rating: +7 -3 |Link to Comment
  • Global Recession Is an Economic Reality [View article]
    Keynesian economics are socialist ie, they are the cause of our problems, not the solution. Milton Friedman has predicted, accurately, stagflation as a result of Keynesian economics. Too bad no one is the wiser. Keynesianism is stil being practiced (see: US Government) and preached (US schools).
    Nov 04 14:21 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    If you're looking for a job, I think the best place to work nowadays is for head hunters. This is bad, but at least Lehman didn't get bailed out by the Fed...
    Sep 15 09:23 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    SEC is investigating 'false rumors' -- isn't that an oxymoron? Besides, rumors are inherently dubious, and should not be taken at face value.

    Still, it's a common fact that Bear Stearns collapsed because it was a horrible counter party that refused and negotiated liquidity requests. As a result of their subpar business practices, no one wanted to do business with them and demanded their money, which was the final nail in the coffin.
    Jul 15 09:24 am |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ishortyou,

    "Ambac and MBIA have asked Fitch to stop assigning them a financial-strength rating." Why do you think that is? With the downgrade from thier AAA credit rating, they can kiss new business goodbye. Just wait until the muni bonds they insure start going belly-up. These companies are facing a perfect storm of problems -- anyone going long on these stocks are speculators at best, and gamblers at worst.
    Jun 19 09:00 am |Rating: 0 0 |Link to Comment
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