Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I'm not sure how this became a slam. As I recall it started because he was volunteering his time canvassing. Wow, being politically active and trying to make a difference -- WHAT A LOSER!

Sure, sometimes people post lazy memes or arguments. Get over it. Your own taunt is the same thing.

It became a slam because he told us we are all worthless and not doing our part while he was out "Saving the Republic". Literally he made it sound like he is the only one fighting or caring. Sorry but that is pathetic and flat out wrong.

"Saving the Republic" isnt the slam...that he was arrogant enough to act like he is the only one doing it (much like the other members of that group you pretend dont exist) is the slam. Pointing out his Trump-like attitude is the slam.

You really got to look past your 12 paragraph diatribes and see what is actually going on

 

[ScoobyDoo]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Another reason to nationalize the financial sector.

If they can't manage themselves properly in the current system then yes, they deserve more regulation. If you're given enough rope to hand yourself (Capitalism) and you keep hanging yourself and you are essential then yes, you deserve more regulation.

I don't think that is unreasonable in the least.

 

[dxmnkd316]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I think a couple of you are missing the fact that we haven’t experienced a stress like this since the Great Depression. Maybe ever.

Banks can’t be expected to go from record employment to record unemployment in a month. Banks can’t be expected to protect the money supply themselves. That’s why we have the Federal Reserve system and government backing.

Maybe moving forward we should? I don’t know. But let’s put the fire out before we start considering what color the carpet should be.

 

[ScoobyDoo]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I think a couple of you are missing the fact that we haven’t experienced a stress like this since the Great Depression. Maybe ever.

Banks can’t be expected to go from record employment to record unemployment in a month. Banks can’t be expected to protect the money supply themselves. That’s why we have the Federal Reserve system and government backing.

Maybe moving forward we should? I don’t know. But let’s put the fire out before we start considering what color the carpet should be.

All I know is no one was saving for a rainy day (well the State of Minnesota was thanks ONLY to the Democrats) while the sun was shining. The Trillion Dollar tax cut and all the share buybacks were proof positive of that.

And yes, I don't disagree that the banks need to be protected and the Fed is there to help with that.

 

[unofan]

Another reason to nationalize the financial sector.

Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.

 

[unofan]

I understand the mechanics but do you understand the vast majority of people who just lost their jobs could give a **** about semantics right now? The banks just got a ****load of cash but their mortgage is still due. Their credit cards are still racking up interest. I have a nest egg in a CD at the bank. Now that it is flush with cash think I can get a deal on the withdrawal fees and penalties? Think I can get a lower interest rate on my loan? **** no. That would hurt the bottom line. And of course, no bank in the area is doing that loan deal I described. Can't do that. That might help people.

You're ****ed that the part of the federal government that's working as intended is the one that works for the banks, primarily because it's setup to be independent of presidential or political influence. Fine, I get it's frustrating. But direct your ire at the part that's broken, not the part that's working.

 

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.

Oh you and your facts

 

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.

<img src="https://media.giphy.com/media/5aLrlDiJPMPFS/giphy.gif"></img>

 

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Apparently not, because the part that is nationalized and doing its job is being criticized for doing its job.

To be fair the Fed is basically the big banks' fluffer, but yes I take your point.

 

[psych]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?

 

[French Rage]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?

I think someone times also pay interest to reserves banks park there, which I guess would count as losing money. It comes down to if they're trying to expand or contract the money supply.

 

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

I’m not up to snuff at all on how the Fed works, but doesn’t the Fed always make money one way or another when it’s loaning money to banks?

The Fed does not "make" or "lose" money, it's just an organ of monetary policy. It buys or sells bonds to inject money into (or withdraw it out of) the private economy. And most famously the Fed can also change the prime rate which is supposed to accelerate or brake the velocity of money as it flows through the economy by making lending more or less attractive. As the economy speeds up inflation can rise but growth increases and unemployment drops. It's a balancing act. (Lately all that really seems to happen is large entities horde and the plebeians are f-cked.)

However the Fed functions in practice as a guarantor of our too big to fail financial firms, effectively socializing risk while privatizing profit. It's the government end of the vampire squid. We have been told we have to put up with this because otherwise we'll have other Great Depressions. Everybody who can stand to actually study something this boring and dehumanizing is eventually co-opted into the system so we never actually hear anybody without skin in the game opine on whether than is true or just Enron writ a trillion times larger to feed the rich on the blood of the middle class (either way the poors are f-cked).

 

[St. Clown]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The Fed makes money. As of 2000 it had never lost money on its operations. I can’t speak for the past 20 years. Ignore the Cornell drama major’s response.

Banks pay the Fed for its depository services, which are mandated as one of its FDIC functions, and can help control the money supply but to change it would be a very aggressive tool.

 

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

The Fed makes money. As of 2000 it had never lost money on its operations. I can’t speak for the past 20 years. Ignore the Cornell drama major’s response.

Banks pay the Fed for its depository services, which are mandated as one of its FDIC functions, and can help control the money supply but to change it would be a very aggressive tool.

Dont you know...only the money that belongs to he and his rich bougie limousine liberal "We Love The Others As Long As They Stay Out of Our Neighborhood" crowd matters.

 

[Kepler]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Dont you know...only the money that belongs to he and his rich bougie limousine liberal "We Love The Others As Long As They Stay Out of Our Neighborhood" crowd matters.

But I know enough economics to live rent free in your head.

 

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

But I know enough economics to live rent free in your head.

No you dont. You know enough about economics to not sound as ridiculous as Priceless does. We dont allow Hipsters and Faux Socialists to live in my head...your kind arent welcome

Plus admit it, you thought it was funny when Clown called you the "Cornell Drama Major"

 

[Rover]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Hey, I read that the Fed just increased the money supply but I just checked my bank account and the same amount of money is in there. W T F?

Not sure what nationalizing the financial industry has to do with anything going on right now. However both the financial industry and car industry rescue ought to be a blueprint for how the gubmint handles the airline industry and whoever else has their hand out now.

1) Its a loan paid back with interest. I'd charge a higher interest rate to discourage more bailouts.
2) Or an equity stake in company that has to be bought out.
3) Restrictions on dividends, buybacks, and exec comp for all companies receiving $$$, subject to federal approval just like what was done 10 years ago
4) Requirement for all affected companies to build up their cash reserves to better deal with an unexpected slowdown before the feds release them from strict oversight.

But I know enough economics to live rent free in your head.

Kep's knowledge of economics begins and ends with these two sentences: "Lovee, where's the checkbook? I signed us up for more socialist causes and need your hard earned money to pay for it!"

 

[mookie1995]

No you dont. You know enough about economics to not sound as ridiculous as Priceless does. We dont allow Hipsters and Faux Socialists to live in my head...your kind arent welcome

Plus admit it, you thought it was funny when Clown called you the "Cornell Drama Major"

Drama, philosophy. Ithaca Double Deuce

 

[Handyman]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">A shift manager at a McDonald’s restaurant in Kansas City, Mo., asks why a company that earned $5.3 billion last year can’t guarantee paid sick leave for all of its workers. <a href="https://t.co/5AWIY3UORc">https://t.co/5AWIY3UORc</a> <a href="https://t.co/u1YgHy1rNC">pic.twitter.com/u1YgHy1rNC</a></p>— New York Times Opinion (@nytopinion) <a href="https://twitter.com/nytopinion/status/1241714243608571904?ref_src=twsrc%5Etfw">March 22, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[FadeToBlack&Gold]

Re: Business, Economic, and Tax Policy 9: No, No, No, We Compost The Rich

Because it's more important for shareholders to get their dividends.