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Banks Need to Fail

Reason for the banks to fail.

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15 Comments

Current View: 15 / Show all Comments

Vinz : LVL 36: VP 4.4: said:

Vinz

27 votes NegativePositive

95 days 16 hours ago...

Makes sense.

Nose Nuggets : LVL 14: VP 2.3: said:

Nose Nuggets

7 votes NegativePositive

95 days 15 hours ago...

YES! Good post Flynn.

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

5 votes NegativePositive

95 days 15 hours ago...

^ thanks. :)

generic_imitation : LVL 37: VP 4.5: said:

generic_imitation

15 votes NegativePositive

95 days 14 hours ago...

Great post!

it makes sense, but 1 thing this doesn`t cover is trade imbalances with other countries, most notably China.

we buy cheap plastic shit from them, and in return we give them our money. America has an abundance of cheap plastic shit from China/Wal-mart.

What this does is force the U.S. Federal Reserve to print up more money to bail out banks because the money sponge in China has soaked up everything here.

Flynn_2006 : LVL 46: VP 5: said:

Flynn_2006

22 votes NegativePositive

95 days 14 hours ago...

^ U.S gave China an I.O.U. that pays 1% to 2.9% interest. So the more the Fed prints money out, the more the currency devalues and the less the debts are worth. It`s like paying the mortgage with another mortgage which is backed by a stag of monopoly money and Chuck E Cheese coupons. Except Chuck E cheese coupons may inflate less. China gets the crap end of the deal, they can`t dump the debts all at once to the world, no one will buy them. They can`t keep accepting debts as real money because they know it`s becoming worthless. China`s economic growth is export dependent. So go figure.

s23 : LVL 18: VP 2.7: said:

s23

0 votes NegativePositive

95 days ago...

How come nothing about when money supply increases general interest rate goes down to accommodate an increase in money supply and as a result business ideas which where unprofitable earlier now could be used leading to higher general GDP ?
http://en.wikipedia.org/wiki/Pigou_effect
http://en.wikipedia.org/wiki/K
eynes_effect
and regarding savings:
http://en.wikipedia.org/wiki/Exogenous_growth_model

lroman2010 : LVL 1: VP 1: said:

lroman2010

1 votes NegativePositive

94 days 3 hours ago...

When great ideas like this come around, there ignored by many people that are willing to sell there country off for a quick profit.

OmegaVader : LVL 39: VP 4.7: said:

OmegaVader

10 votes NegativePositive

94 days ago...

Wow, what an idiot. We recovered through the Great Depression because of World War II -- what was, at the time, the largest government expenditure ever. Spending money helps. This fellow acts as if there aren`t other ways of mediating this disaster without letting people go bankrupt and leaving them on the streets; his plan only makes sense in a laisez-faire society, one that does not exist in any modern country anymore (we`ve long since abandoned it after the 19th century). Here`s a crazy idea: to maintain capital, let`s tax more instead of printing or borrowing more money! People may claim to want the so-called `free` society of pure capitalism (which is really just slavery to the rich), but the moment you propose cuts in social security or medicare, they freak out. If we want to maintain this state, we have to start taxing for it. That is the way out -- not a return to barbaric economic systems that exploit the many for the benefit of the very few.

Bishop_Vick : LVL 32: VP 4.1: said:

Bishop_Vick

14 votes NegativePositive

94 days ago...

Money is an illusion. Even without it, labor, materials and resources still exist. At present we are debt slaves to the corrupt system.

TUdes : LVL 26: VP 3.5: said:

TUdes

2 votes NegativePositive

94 days ago...

Zeitgeist Addendum had a wicked explanation of the system. Went a little bit more in depth too, and showed that not only is it the loans themselves that are ruining our economy but the effect is strengthened and our system is inherent to fail due to the application of Interest!

"Money = debt"
"Debt is the bank`s weapon, and interest is its ammo."

The Man with No Name : LVL 37: VP 4.5: said:

The Man with No Name

8 votes NegativePositive

94 days ago...

The video makes sense EXCEPT when they try to pin everything on Obama. All of these problems have been going on long before he was elected and are likely to continue long after. Does anyone actually think a republican prez wouldn`t have put forward an economic stimulus package? Every politician knows they have to at least appear to be doing something about major economic issues. Let`s not forget (like most want to do when the other party wins) that Bush started the bailouts before he left office. No one in America (except Ron Paul) honestly wants to go through the turmoil necessary to fix their economic systems.

IonAphis : LVL 39: VP 4.7: said:

IonAphis

1 votes NegativePositive

93 days 23 hours ago...

Watch Zeitgeist Addendum... it explains the whole problem with the banking system... It really is more down to earth than the original Zeitgeist...

Look for it online, I think it`s on their website

thinkbolt : LVL 35: VP 4.3: said:

thinkbolt

-3 votes NegativePositive

93 days 21 hours ago...

Too slow. Too many technical terms.

Shearstone : LVL 32: VP 4.1: said:

Shearstone

1 votes NegativePositive

93 days 20 hours ago...

He did make some good points but as soon as he mentioned the NRA being unconstitutional you realised this is just an anti obama video. The fact remains it was people borrowing against their means that caused the recession, it was this borrowing that made the US government invest in the housing market which led to the eventual collapse.

dreadgoth : LVL 32: VP 4.1: said:

dreadgoth

0 votes NegativePositive

93 days 15 hours ago...

All this money being pumped in to the system and yet I haven`t seen a penny of it.

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