Fed’s Kashkari decries ‘absurd’ U.S. financial system that needs bailout every 10 years

Discussion in 'Economics & Trade' started by wgabrie, Sep 18, 2020.

  1. wgabrie

    wgabrie Well-Known Member Donor

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    Fed’s Kashkari decries ‘absurd’ U.S. financial system that needs bailout every 10 years
    https://www.msn.com/en-us/money/mar...lout-every-10-years/ar-BB19bPHR?ocid=msedgdhp
    Does someone dare to say that our financial system is absurd?! The same one which took care of us throughout our history and built us into the world's only superpower?

    What does it say to you? What it says to me is that changing the U.S. financial system is communism. Something we should avoid.
     
  2. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Traditional hardline conservatives would have been totally against these bailouts. It's only "Neoliberals" who seem to be in favor of them. And "Neoliberalism" is an economic ideology that seems to span across both the Democratic and Republican Parties.

    (Neoliberalism is an economic ideology that believes in "free" "global" markets, but also believes plenty of regulations, monetary policy, and intervention by the central bank, and of course bailouts, are needed to keep that market-based system running optimally)


    So this is one of the few areas that both traditional hardline conservatives and hardline economic Leftists could agree on.
     
    Last edited: Sep 18, 2020
  3. bringiton

    bringiton Well-Known Member

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    That's like claiming Vito's protection racket built up the small businesses it has extorted money from. They grew despite Vito's "protection," not because of it. Same as the USA grew despite bankster parasitism, not because of it.
     
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  4. wgabrie

    wgabrie Well-Known Member Donor

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    Talk about what financial systems we could have if not the current one? Kind of hard to do since there are so few good options, ours is the only system besides full-on red communism.
     
  5. wgabrie

    wgabrie Well-Known Member Donor

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    Well, I actually like the bailouts because I actually benefited from them this time around. And it's kind of nice that the banks weren't the only ones to get bailed out like it was 2008... So, thanks neo-liberalism.
     
  6. wgabrie

    wgabrie Well-Known Member Donor

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    I like your example.
     
  7. bringiton

    bringiton Well-Known Member

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    Not at all. 100% reserve banking would solve the major problems with the current debt money system.
     

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