[QUOTE="ToWelkinAtDusk"][QUOTE="Lord__Darkstorn"]
Actually you're wrong. The Federal Reserve's responsibilities have grown greatly since the Depression; they are basically the central banking system for the entire country (with some exceptions, of course).
Let's look at this as it would happen:
Step 1: Some rich Wall St. guys get even greedier and decide to invest in a new industry, and they help market it and set it up for competition.
Step 2: The consumers don't back it (as happened with the recent housing crisis). The industry still has support, but it is falling fast.
Step 3: The Fat Cats, being individualists, draw out their money in order to preotect it from the crisis that they helped create.
Step 4: The economy takes a hit. Then a chain reaction occurs. The entire economy will soon be in the gutter.
Step 5: Even though noone likes it, the Fed MUST step in in order to avoid recession, and that devalues money in the process.
Which would you rather have - slightly devalued money or another Great Depression?
If we had more regulation, then big corporations wouldn't be able to invest in volatile industries, and there would be far less embezzlement and bad investments on Wall St.
Solution: Either we regulate more, or we have to devalue our money by having the Fed come in.
Lord__Darkstorn
Actually, im not. I highly suggest you do some research from a point of view not already your own. Did you even watch the video? or do you assume you know everything? Because im quite certain theres a few things you gotta brush up on
I know what the federal reserve is. I know its grown, and I know that its a bad thing.
another great depression is inevitable. Its better to just let it happen, the more we prolong it the worse its going to be. But if someone invests in a highly speculative company then that their fault. the fat cats dont invest in risky business a lot, they usually have so much money that they invest in money market accounts and such, as they dont need the high risk, and could live off of interest alone without touching the principal.
Why shouldnt someone be able to invest in a volitile industry? sometimes they take off, and that can be a good thing.
Solution: Gold standard with next to no regulation, allow wealth to be created instead of stagnating.
That solution only helps the rich get richer and the poor get poorer.
We need more regulation. If we were as heavily regulated as most European countries, there would be no need for a Fed, and therefore very little inflation. We just need to make sure big business does not make predatory loans, or in the case of the Great Depression,overinvestment (also known as an economic bubble).
No, my solution is that people have the right to their property, and have a chance as prosperity.
We need less regulation, and the sooner you lose your emotional attatchment to this childish idealogy the sooner youll actually learn something about economics.
the only way europe was able to compete was to merge with all those nations, and for us to become more like them. Poland had an inflation problem, thats much worse than what we have now.
the only way to solve inflation is to have sound money backed by gold.
big business made those loans under the community reinvestment act which came from bill clintons admin. All of our problems are a result of regulations
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