"Fed to Start Buying Stocks"?

Discussion in 'Political Opinions & Beliefs' started by bringiton, Mar 31, 2020.

  1. fmw

    fmw Well-Known Member

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    The cuts would be painful only for the government. They would be great for us because we would end up with smaller, more effective, better government. What we really need from government is a lot less of it.
     
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  2. bringiton

    bringiton Well-Known Member

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    You don't understand what rent is in economics. It is a return obtained by depriving others of access to economic opportunity that would otherwise be accessible. The classic example is land -- and rent can be obtained by using it, not just charging tenants for it -- but these days IP monopolies, bank licenses, broadcast spectrum allocations, etc. are also significant rent sources.
     
  3. PPark66

    PPark66 Well-Known Member

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    I thought it was well known the Fed had set aside four billion in addition to the aid authorized by Congress.
     
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  4. Quantum Nerd

    Quantum Nerd Well-Known Member

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    You should look up what the term " rent seeking" means. Hint:. While landlords can do it, it doesn't apply to landlords only.

    Oops, I saw the OP already answered this question.
     
    Last edited: Apr 2, 2020
  5. ImNotOliver

    ImNotOliver Well-Known Member

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    While that sounds good, it does not work in the real world. Typically the bigger the stronger the government, the better off the people. Those small poor governments in Africa and Latin America are weak and the people poor.

    Why do you think so many Central Americans migrate to the US? Their governments are too weak to control the criminals.
     
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  6. Lesh

    Lesh Well-Known Member

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    For the record THIS is socialism.

    Stock is ownership

    Government ownership of the means of production is the very definition of socialism
     
  7. fmw

    fmw Well-Known Member

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    OK sea lawyer, let's just say the OP is dead wrong.
     
  8. Quantum Nerd

    Quantum Nerd Well-Known Member

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    I have no crystal ball to know whether the Fed will end up buying stocks or not.

    In any case, the OP has a point that the capitalist class tends to reap the benefits of crises, because they are bailed out by the government, whereas the little guy is not. Then, the little guy has to sell what little assets they have at a discount, while the capitalists snap up assets at pennies to the dollar. It played out that way in 2008, it will play out like that again in the future. In the meantime, wealth disparity keeps increasing.

    The OP was also correct in stating that some of the corporate CEOs wealth is based on rent seeking, not based on being the most productive. You challenged that claim, not knowing what "rent seeking" means. Therefore, it is not clear whether one can have a informed discussion, if basic terms are not understood.
     
  9. Lesh

    Lesh Well-Known Member

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    Smaller government?

    less able to deal with things like we are now experiencing?
     
  10. fmw

    fmw Well-Known Member

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    Exactly. I mean smaller federal government by the way.
     
  11. fmw

    fmw Well-Known Member

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    Neither do I but it would meet the standard definition for socialism.

    Government should never provide funds to businesses unless they are buying something from them. But your premise is backward. Government bails out businesses not rich people. In every case I know about it has bailed out public companies, not proprietorships. The new 2 Trillion boondoggle with be the first time. The only people they have bailed out in the past are the poor.

    In that case I recommend you ignore everything I say.
     
  12. bringiton

    bringiton Well-Known Member

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    I assume you meant trillion. Four billion wouldn't buy them a decent-sized yacht.
     
  13. bringiton

    bringiton Well-Known Member

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    Bailing out a business shovels money into the pockets of its rich owners. You know that.
    Such claims are false and absurd.
    Good advice.
     
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  14. fmw

    fmw Well-Known Member

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    I will take this as nonsense unless you have something more than an opinion. The trillions are going to companies, not individuals in the "taker class." People outside the "taker class" are the ones getting trillions shoveled into their pockets. People like you.
     
  15. fmw

    fmw Well-Known Member

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    You can be an owner of a public company. So can I. I'm not rich. How about you?

    About half the citizens of the U.S. pay no federal income tax. That isn't the rich half. That is a fact.

    Thanks. I normally provide good advice.
     
  16. Ethereal

    Ethereal Well-Known Member

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    Just by buying the bottom of the stock market based on the belief that the fed and the congress will re-inflate it going forward.
     
  17. bringiton

    bringiton Well-Known Member

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    Oh, OK. I suspect there are ways to do better than that, such as in gold.
     
  18. Ethereal

    Ethereal Well-Known Member

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    Investing in precious metals is betting against the corrupt monetary system. I invested in some silver myself, but most of my money is in stocks at the moment. And if the fed and the congress manage to re-inflate the stock market like they did after 2008, I'll be making a handsome return on my investment. Very handsome indeed.
     
    Last edited: Apr 2, 2020
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  19. bringiton

    bringiton Well-Known Member

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    Why even bother with such disingenuous trash? Who actually ARE the great majority owners of the major public companies that will actually GET the money, hmmmmmm? Not me. How about you?
    Because the rich permit them to have so little income. Hello?
    There isn't a rich "half," obviously. The rich are just a fraction of 1%. And a significant number of them pay no federal income tax -- they are rich largely to the extent that they managed not to pay income tax, duh. Billionaire Howard Hughes notoriously arranged to pay no personal income tax for decades at a stretch, and that still goes on.

    "We don't pay taxes. Only the little people pay taxes." -- truthful real estate billionaire Leona Helmsley

    https://www.businessinsider.com/ame...s-taxes-than-working-class-wealth-gap-2019-10

    Time for you to stop typing and start reading.
     
  20. bringiton

    bringiton Well-Known Member

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    You decline to know facts. Inevitably.
    The individuals in the taker class own the companies, so the money is going to them. You know this. Why pretend you do not?
    :lol: Oh, sure, that's right: people working two or three jobs somehow don't have even $500 in their bank accounts for a rainy day, but somehow they are the ones getting trillions shoveled into their pockets?? The folks who actually ended up with the trillions despite not doing anything productive are somehow the victims, here? Give your head a shake.
     
  21. fmw

    fmw Well-Known Member

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    No me either. I have always invested in my own ventures.

    In free market capitalism wages and salaries are determined by the marketplace. For many working people is that they have to compete with workers in other countries thanks to our love affair with globalism. Perhaps you should consider shunning Chinese made products.

    I wonder how they do it. Most of them are audited every year. Help me understand the process.

    Perhaps the problem is the tax laws, not the people who follow them.

    Time for you to stop whining and lobby your congress people to change the tax laws so that they are more to your liking.
     
  22. fmw

    fmw Well-Known Member

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    If you say so.

    I tried to explain it to you but didn't want to read it.

    Not having to pay taxes is exactly the same thing as having trillions shoveled into their pockets.
     
  23. bringiton

    bringiton Well-Known Member

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    Your explanation was fallacious and nonsensical, as I proved.
    No, that is literally nonsense. Shame on you trying to pass that sort of tripe off as a genuine comment.
     
  24. Lesh

    Lesh Well-Known Member

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    Thinking like that leads to not having enough ventilators and masks when you need them
     
  25. bringiton

    bringiton Well-Known Member

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    "Free market capitalism" is an oxymoron: capitalism requires private ownership of land, which forces everyone to subsidize landowners; but forced subsidies can't exist in a free market. QED. What we have is a market where people's rights to liberty are bought and sold. I.e., a slave market.
    By getting crooks to make the producers pay the taxes instead of the takers.
    The problem is the takers who paid the crooks to write and pass the tax laws.
    I don't have enough money to buy congress people.
     

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