View Poll Results: Which party is more responsible for the state of the economy?

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  • The Republican Party

    41 62.12%
  • The Democratic Party

    25 37.88%
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Thread: Which party is more responsible for the state economy?

  1. #101
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Centinel View Post
    No, I don't want a safe deposit box. I want a checking account that contractually prohibits the bank from lending out my money. It would 100% eliminate the possibility that I as a depositor would be left holding the bag if the bank's investments go sour. I would then not need Glass-Steagall or the FDIC to protect me.

    The Glass-Steagall is trying to solve the problem the wrong way. Regulating whether banks may invest only in morgtages or whether they may invest in exotic financial instruments is closing the barn door after the horse is out. The root of the problem is that the bank is loaning out money that depositors consider as their assets. The same dollar cannot be simultaneously owned by two different people. That is the root of the problem.

    And if the response is that depositors would rather have their interest, well then they are not depositors, they are either lenders or investors, and as such I see no reason why the government has any obligation to backstop any lender's or investor's risk.
    That checking account would cost you a fortune in fees. I am sure that some financial institution somewhere would offer you what you want.

    In a fractional reserve banking system the same dollar can be owed to many different people, which is what the US has currently and every modern economy is based on. To switch over to a non fractional banking system would see a massive contraction in the economy as loans stop being made to reduce the money supply

    Of course most depositors who are seeking interest bearing savings and checking accounts are investors, otherwise they would stuff their money under the bed for safe keeping. As for why the government backstops lenders and investors risk, it does so for the stability of the economic and societal system. Some view that as being rather important and as such created the FDIC among other regulations
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  2. #102
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    Re: Which party is more responsible for the state economy?

    Republicans, no contest. The Democrats may be completely incompetent, but at least they're not actively malicious.
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  3. #103
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by atrasicarius View Post
    Republicans, no contest. The Democrats may be completely incompetent, but at least they're not actively malicious.
    wanna explain that claim?. The dems tax policy is completely malicious. Its economic vandalism appealing to butt hurt losers--we will punish the rich to make you feel better



  4. #104
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Lord Tammerlain View Post
    In a fractional reserve banking system the same dollar can be owed to many different people, which is what the US has currently and every modern economy is based on. To switch over to a non fractional banking system would see a massive contraction in the economy as loans stop being made to reduce the money supply

    Of course most depositors who are seeking interest bearing savings and checking accounts are investors, otherwise they would stuff their money under the bed for safe keeping. As for why the government backstops lenders and investors risk, it does so for the stability of the economic and societal system. Some view that as being rather important and as such created the FDIC among other regulations
    Obviously, people are free to invest their money as they wish, and if they want to risk their money by lending it to a bank that in turn lends it out, I guess that's their business. However, I don't see why it is the responsibility of the government to cover their bets and socialize their losses. Certainly, it doesn't fall within the federal government's set of powers to backstop depositors or banks.

  5. #105
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by TurtleDude View Post
    wanna explain that claim?. The dems tax policy is completely malicious. Its economic vandalism appealing to butt hurt losers--we will punish the rich to make you feel better
    Not really, not to you. I've explained a time or twelve, and it always goes right over your head. I doubt one more time is gonna help.
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  6. #106
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by atrasicarius View Post
    Not really, not to you. I've explained a time or twelve, and it always goes right over your head. I doubt one more time is gonna help.
    where do you get off thinking any of your explanations are sophisticated enough to go over anyone's head? The dem policies are based on demonizing those who already pay lots of taxes to slake the butt hurt whining of those who are not successful



  7. #107
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by TurtleDude View Post
    where do you get off thinking any of your explanations are sophisticated enough to go over anyone's head? The dem policies are based on demonizing those who already pay lots of taxes to slake the butt hurt whining of those who are not successful
    Your explanations don't have to be very sophisticated to go over people's heads when their heads are buried in sand.
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  8. #108
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Centinel View Post
    Obviously, people are free to invest their money as they wish, and if they want to risk their money by lending it to a bank that in turn lends it out, I guess that's their business. However, I don't see why it is the responsibility of the government to cover their bets and socialize their losses. Certainly, it doesn't fall within the federal government's set of powers to backstop depositors or banks.
    And yet it does

    So by default it has the power to do so
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  9. #109
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by atrasicarius View Post
    Your explanations don't have to be very sophisticated to go over people's heads when their heads are buried in sand.
    I agree, calling one's self a socialist when you are still a college kid is about as ostrich like as it gets



  10. #110
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    Re: Which party is more responsible for the state economy?

    Quote Originally Posted by Lord Tammerlain View Post
    And yet it does

    So by default it has the power to do so
    It doesn't fall within the set of powers delegated to the federal government.

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