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SamFarber
 
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Ted Nugent looking hermit explains economy

+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.
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Old 08-24-2014, 03:16 PM SamFarber is offline  
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g|aSsJaw
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no one is going to watch that
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Old 08-24-2014, 03:25 PM g|aSsJaw is offline  
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pyramid
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He sounded pretty good until he got the part about FDIC insuring stocks. That's not how FDIC works.

https://www.fdic.gov/deposit/covered/
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Old 08-24-2014, 03:47 PM pyramid is offline  
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SamFarber
 
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Quote:
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He sounded pretty good until he got the part about FDIC insuring stocks. That's not how FDIC works.

https://www.fdic.gov/deposit/covered/

FDIC covers the banks who have invested the deposits in the market, maybe? If the market goes down they won't have the money to cover the deposits, right?
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Old 08-24-2014, 03:54 PM SamFarber is offline  
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pyramid
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fractional reserve banking has been around for hundreds of years.

I'm not sure how he calculated 10 years of work to pay off the debt. the Debt is only about 100% of GDP now.

He is correct about trickle down and about this starting with reagan tho.

not so sure how much profit the wealthy are making on super low return US bonds... unless you are a bank that could buy them by the billions with borrowed currency that the banks can borrow below the interest rate that the bond is paying out....
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Old 08-24-2014, 04:03 PM pyramid is offline  
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pyramid
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Quote:
Originally Posted by SamFarber View Post
FDIC covers the banks who have invested the deposits in the market, maybe? If the market goes down they won't have the money to cover the deposits, right?

True. And banks are increasingly investing because they make more money on the market than from their primary role as lenders, which is why we used to separate investment banks from savings and loan banks. That policy started after the great depression but was ended in 1999. This is part of the reason we had to bail the banks out, because the compounding shitstorm of all the money that could be owed due to such a crash exceeds the amount of money on the planet thanks to derivatives.
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Old 08-24-2014, 04:11 PM pyramid is offline  
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pyramid
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alright, I'm going back to watching this:

+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.
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Old 08-24-2014, 04:21 PM pyramid is offline  
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SamFarber
 
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alright, I'm going back to watching this:

+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.

Pretty good.
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Old 08-24-2014, 04:37 PM SamFarber is offline  
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SamFarber
 
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+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.
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Old 08-26-2014, 03:53 PM SamFarber is offline  
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pyramid
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+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.
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Old 08-26-2014, 04:30 PM pyramid is offline  
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SamFarber
 
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Quote:
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+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.

I remember as a kid seeing that movie on cable and thinking "if it is Never Ending I better not even start watching - ain nobody got time fer dat!"
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Old 08-26-2014, 04:39 PM SamFarber is offline  
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Old 08-26-2014, 04:49 PM pyramid is offline  
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Old 09-18-2014, 12:45 PM pyramid is offline  
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