Comments on: The Big Change: Lessons from the Great Depression: Part XXI. Challenging Wall Street, Restoring Economic Confidence, and Dealing with the Biggest Financial Challenge since the Great Depression. http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 16 Mar 2010 02:25:01 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Charlie http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/comment-page-1/#comment-26720 Charlie Mon, 10 Nov 2008 21:20:21 +0000 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/#comment-26720 That pretty much shut everyone up. Excellent post. That pretty much shut everyone up. Excellent post.

]]> By: Occdude32 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/comment-page-1/#comment-26671 Occdude32 Sat, 08 Nov 2008 16:54:05 +0000 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/#comment-26671 Unbelievable. People actually believe in this benevolent government concept? How "hard working", "self sacrificing", "all knowing" and altruistic government officials ride in and save the day...I have news and it aint good my friends and foes. People who want more government are going to get more and THEN they'll realize the true purpose of government which is to smash and destroy. How petty,power obsessed,corrupt, unintelligent, unaccountable and deniable government can be. Get ready for many "riddles wrapped in enigmas" as far as assessing the blame, "not my fault" is going to be the newest government agency . Get ready for civill,class,racial, theological and gender warfare as political opportunists pit one faction against the other "lookin for the bad guy". The systems organisation is whats the problem. Fiat money plus fractional reserve banking equals credit bubble and credit bust with major misallocations needing to be reallocated via deflation. Its hard to believe, but the market is TRYING to work and correct the mistakes that "cheap money" and prolific credit creation. The problem is very uncomfortable, because EVERYONE OF US has been engaged in UNPRODUCTIVE or marginally productive true wealth creation based on this damn PHONY economy. Now DEAL WITH IT PEOPLE!! Don't be so willing to completely forgoe your hard faught freedoms for this "pie in the sky" promises made by a "Kennedyescke" pied piper, if you believe in anybody believe in yourselves and you ability to survive this on your own. Re-establish mutual aid societies, church organisations, local neighborhood get togethers and "barn raising" concepts. Figure out how to take responsibilty on a local level for your friends/family,neighborhood,city,county,state and if your still so inclined federal obligations ( which should be the LEAST of your efforts.) Its gut check time folks, and we're staring into the abyss from the abyss. If you don't back responsible freedom, that is freedom to make a decision AND most importantly at this point to TAKE RESPONSIBILITY for that decision all is lost. Let these damn banks fail FOR CHRIST SAKES!! Let the automakers fail, let the airlines fail, let the state governments fail, let the insurance companies fail. Out of these ashes that were justifiably made will arise a new structure built on FREEDOM and RESPONSIBILITY. Right now every day capital and credit are being destroyed by these misallocations that continue fester and put off the inevitable. Get back to sound money and full reserve banking. Limit government spending on EVERYTHING except locall militia defense and soup kitchens (tongue in cheek statement, but not totatlly). Take risks with deregulations of industries to fuel experimentation. Let privately funded "popular mechanic" concepts have free rein to innovate and creat a real expansion. Stop coaching all are kids to be company workers instead of entreprenuers. To be lawyers instead of inventors. Civil servants instead of mavericks. We need more Thomas Edisons and less Barack Obamas. More Henry Fords and less Henry Paulsons. It took us a little less than 3 generations to burn through all the real wealth creation that our forefathers built for us. We need to make sure we set the bedrock of a new economic expansion based on freedom,sound money,non-interverntion in foreign affairs, full reserve banking, market rate interest rates, drastically pared back government and unfortunately everything that is being proposed to be done. In short. Take away the governments ability to regulate and you stick a stake in the heart of chrony capitalism. Trust yourselves with freedom and be prepared to take the heat for failure. The road ahead is going to be very rough, but the eventual outcome will be either annihilation of our species or unleashed human potential,which path we take will determine our fate as an ongoing concern. Unbelievable. People actually believe in this benevolent government concept? How “hard working”, “self sacrificing”, “all knowing” and altruistic government officials ride in and save the day…I have news and it aint good my friends and foes. People who want more government are going to get more and THEN they’ll realize the true purpose of government which is to smash and destroy. How petty,power obsessed,corrupt, unintelligent, unaccountable and deniable government can be. Get ready for many “riddles wrapped in enigmas” as far as assessing the blame, “not my fault” is going to be the newest government agency . Get ready for civill,class,racial, theological and gender warfare as political opportunists pit one faction against the other “lookin for the bad guy”.

The systems organisation is whats the problem. Fiat money plus fractional reserve banking equals credit bubble and credit bust with major misallocations needing to be reallocated via deflation.

Its hard to believe, but the market is TRYING to work and correct the mistakes that “cheap money” and prolific credit creation. The problem is very uncomfortable, because EVERYONE OF US has been engaged in UNPRODUCTIVE or marginally productive true wealth creation based on this damn PHONY economy. Now DEAL WITH IT PEOPLE!! Don’t be so willing to completely forgoe your hard faught freedoms for this “pie in the sky” promises made by a “Kennedyescke” pied piper, if you believe in anybody believe in yourselves and you ability to survive this on your own. Re-establish mutual aid societies, church organisations, local neighborhood get togethers and “barn raising” concepts. Figure out how to take responsibilty on a local level for your friends/family,neighborhood,city,county,state and if your still so inclined federal obligations ( which should be the LEAST of your efforts.)

Its gut check time folks, and we’re staring into the abyss from the abyss. If you don’t back responsible freedom, that is freedom to make a decision AND most importantly at this point to TAKE RESPONSIBILITY for that decision all is lost.

Let these damn banks fail FOR CHRIST SAKES!! Let the automakers fail, let the airlines fail, let the state governments fail, let the insurance companies fail. Out of these ashes that were justifiably made will arise a new structure built on FREEDOM and RESPONSIBILITY. Right now every day capital and credit are being destroyed by these misallocations that continue fester and put off the inevitable.

Get back to sound money and full reserve banking. Limit government spending on EVERYTHING except locall militia defense and soup kitchens (tongue in cheek statement, but not totatlly). Take risks with deregulations of industries to fuel experimentation. Let privately funded “popular mechanic” concepts have free rein to innovate and creat a real expansion. Stop coaching all are kids to be company workers instead of entreprenuers. To be lawyers instead of inventors. Civil servants instead of mavericks. We need more Thomas Edisons and less Barack Obamas. More Henry Fords and less Henry Paulsons.

It took us a little less than 3 generations to burn through all the real wealth creation that our forefathers built for us. We need to make sure we set the bedrock of a new economic expansion based on freedom,sound money,non-interverntion in foreign affairs, full reserve banking, market rate interest rates, drastically pared back government and unfortunately everything that is being proposed to be done.

In short. Take away the governments ability to regulate and you stick a stake in the heart of chrony capitalism. Trust yourselves with freedom and be prepared to take the heat for failure. The road ahead is going to be very rough, but the eventual outcome will be either annihilation of our species or unleashed human potential,which path we take will determine our fate as an ongoing concern.

]]> By: David Brodbeck http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/comment-page-1/#comment-26650 David Brodbeck Fri, 07 Nov 2008 18:05:46 +0000 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/#comment-26650 I'm also tired of the old canard that people on the low end of the income scale "don't pay taxes." They don't pay *federal income tax*, but they do pay social security payroll taxes, state and local sales taxes, and often state income taxes. I’m also tired of the old canard that people on the low end of the income scale “don’t pay taxes.” They don’t pay *federal income tax*, but they do pay social security payroll taxes, state and local sales taxes, and often state income taxes.

]]> By: BNasty http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/comment-page-1/#comment-26641 BNasty Fri, 07 Nov 2008 12:42:39 +0000 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/#comment-26641 @ John's tired tale: Tell #10 not to let the door hit him on the ass on the way out. Most other 'overseas' countries where the taxes are lower than the US don't have the basic infrastructure to give the rich saftey or opportunity to make their riches in the first place. Ironically it's the 7th, 8th and 9th (middle class) that end up screwed the most in the transaction as #10's money is taxed at lower cap gains rates, wrapped up in land/property, or sheltered from taxes in one of the many ways those with access to tax lawyers can do. @ John’s tired tale: Tell #10 not to let the door hit him on the ass on the way out. Most other ‘overseas’ countries where the taxes are lower than the US don’t have the basic infrastructure to give the rich saftey or opportunity to make their riches in the first place. Ironically it’s the 7th, 8th and 9th (middle class) that end up screwed the most in the transaction as #10’s money is taxed at lower cap gains rates, wrapped up in land/property, or sheltered from taxes in one of the many ways those with access to tax lawyers can do.

]]> By: Tim http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/comment-page-1/#comment-26638 Tim Fri, 07 Nov 2008 05:33:44 +0000 http://www.doctorhousingbubble.com/the-big-change-lessons-from-the-great-depression-part-xxi-challenging-wall-street-restoring-economic-confidence-and-dealing-with-the-biggest-financial-challenge-since-the-great-depression/#comment-26638 @ john and his beer economics: don't forget that the tenth man owns the bar, so if the other nine men don't come to drink, he makes ZERO. Why do those at the top pay the most taxes, because they own the MOST!!! and don't go to the "because they are smarter" because we all know where that argument can go. @ john and his beer economics: don’t forget that the tenth man owns the bar, so if the other nine men don’t come to drink, he makes ZERO. Why do those at the top pay the most taxes, because they own the MOST!!! and don’t go to the “because they are smarter” because we all know where that argument can go.

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