U.S. has had a few economic depressions. F.D.R.s economic depression had lasted a lot longer than any other because of some of the things he did. When we make it more difficult to do business we end up with fewer jobs being created, with incomes not growing and with poverty rates increasing.
--- In Politics_CurrentEvents_Group@yahoogroups.com, "Sheep&Goatlady" <springcreek@...> wrote:
>
> Yes, there was, the US was comoing out of the Great depression,, you do know
> what happened during that time,
> ** An eye for an eye makes the whole world blind Gandhi **
> ----- Original Message -----
> From: "zeus32117" <zeus32117@...>
> To: <Politics_CurrentEvents_Group@yahoogroups.com>
> Sent: Tuesday, June 28, 2011 7:17 PM
> Subject: [Politics_CurrentEvents_Group] Re: the future made by Jimmy Carter,
> Bill Clinton and ObombA
>
>
> I think that Franklin Delano Roosevelt was an anti-libertarian who had made
> it so difficult to do business in U.S. that there was a severe jobs shortage
> in this country until after the attack on Pearl Harbor. All of F.D.R.s
> successors have been anti-libertarian as well.
>
> --- In Politics_CurrentEvents_Group@yahoogroups.com, "Sheep&Goatlady"
> <springcreek@> wrote:
> >
> > Ahha,, do read some history,, the free market tanked some years before FDR
> > came to be president,, read up on the crash of 1929,, FDR was not
> > president
> > at that time,
> > FDR produced disastrous consequences? I suggest you read up on the Grand
> > Coulee Dam, the Hoover Dam, and the REA,, just to name a few things that
> > today, folks are benefitting from now,
> > ** An eye for an eye makes the whole world blind Gandhi **
> > ----- Original Message -----
> > From: "zeus32117" <zeus32117@>
> > To: <Politics_CurrentEvents_Group@yahoogroups.com>
> > Sent: Monday, June 27, 2011 7:43 PM
> > Subject: [Politics_CurrentEvents_Group] Re: the future made by Jimmy
> > Carter,
> > Bill Clinton and ObombA
> >
> >
> > I think that FDR was even worse than Barak Obama. He ended up keeping the
> > rates of unemployment higher than Barak Obama has. U.S. had a free market
> > economy until after FDR became President. I think that Barak Obama has
> > done
> > a lot less harm than FDR had done. Feeding the hungry was the right thing
> > to
> > do. Most other things FDR did had produced disastrous consequences for
> > this
> > nation.
> >
> > --- In Politics_CurrentEvents_Group@yahoogroups.com, Carl Spitzer
> > <cwsiv@> wrote:
> > >
> > >
> > > http://blogs.forbes.com/larrybell/2011/06/07/u-n-agreement-should-have-all-gun-owners-up-in-arms/
> > >
> > > The Next Financial Crisis Will Be Hellish And Itâ?Ts On Its Way
> > > Jun. 1 2011 - 3:11 pm
> > > Posted by Addison Wiggin
> > > Federal Reserve Board Chairman Ben Bernanke (L...
> > >
> > > Bernanke and Volcker: Different men, vastly different monetary policies
> > >
> > > â?oThere is definitely going to be another financial crisis around the
> > > corner,â?
> > > says hedge fund legend Mark Mobius, â?obecause we havenâ?Tt solved any
> > > of
> > > the
> > > things that caused the previous crisis.â?
> > >
> > > Weâ?Tre raising our alert status for the next financial crisis. We
> > > already
> > > raised it last week after spreads on U.S. credit default swaps started
> > > blowing out. We raised it again after seeing the remarks of Mr. Mobius,
> > > chief of the $50 billion emerging markets desk at Templeton Asset
> > > Management.
> > >
> > > Speaking in Tokyo, he pointed to derivatives, the financial hairball of
> > > futures, options, and swaps in which nearly all the worldâ?Ts major
> > > banks
> > > are
> > > tangled up.
> > >
> > > Estimates on the amount of derivatives out there worldwide vary. An
> > > oft-heard
> > > estimate is $600 trillion. That squares with Mobiusâ?T guess of 10 times
> > > the
> > > worldâ?Ts annual GDP. â?oAre the derivatives regulated?â? asks Mobius.
> > > â?oNo. Are
> > > you still getting growth in derivatives? Yes.â?
> > >
> > > In other words, something along the lines of securitized mortgages is
> > > lurking
> > > out there, ready to trigger another crisis as in 2007-08.
> > >
> > > What could it be? Weâ?Tll offer up a good guess, one the market is
> > > discounting.
> > >
> > > Seldom does a stock index rise so much, for so little reason, as the Dow
> > > did
> > > on the open Tuesday morning: 115 Dow points on a rumor that Greece is
> > > going
> > > to get a second bailout.
> > >
> > > Letâ?Ts step back for a moment: The Greek crisis is first and foremost
> > > about
> > > the German and French banks that were foolish enough to lend money to
> > > Greece
> > > in the first place. What sort of derivative contracts tied to Greek debt
> > > are
> > > they sitting on? What worldwide mayhem would ensue if Greece didnâ?Tt
> > > pay
> > > back
> > > 100 centimes on the euro?
> > >
> > > Thatâ?Ts a rhetorical question, since the balance sheets of European
> > > banks
> > > are
> > > even more opaque than American ones. Whatever the actual answer, itâ?Ts
> > > scary
> > > enough that the European Central Bank has refused to entertain any talk
> > > about
> > > the holders of Greek sovereign debt taking a haircut, even in the form
> > > of
> > > Greece stretching out its payments.
> > >
> > > That was the preferred solution among German leaders. But it seems the
> > > ECB
> > > is
> > > about to get its way. Greece will likely get another bailout â?" 30
> > > billion
> > > euros on top of the 110 billion euro bailout it got a year ago.
> > >
> > > It will accomplish nothing. Going deeper into hock is never a good way
> > > to
> > > get
> > > out of debt. And at some point, this exercise in kicking the can has to
> > > stop.
> > > When it does, you get your next financial crisis.
> > >
> > > And what of the derivatives sitting on the balance sheet of the Federal
> > > Reserve? Hereâ?Ts another factor behind our heightened state of alert.
> > >
> > > â?oThrough quantitative easing efforts alone,â? says Euro Pacific
> > > Capitalâ?Ts
> > > Michael Pento, â?oBen Bernanke has added $1.8 trillion of longer-term
> > > GSE
> > > debt
> > > and mortgage-backed securities (MBS).â?
> > >
> > > Think about that for a moment. The Fedâ?Ts entire balance sheet totaled
> > > around
> > > $800 billion before the 2008 crash, nearly all of it Treasuries. Now the
> > > Fed
> > > holds more than double that amount in mortgage derivatives alone, junk
> > > that
> > > the banks needed to clear off their own balance sheets.
> > >
> > > â?oAs the size of the Fedâ?Ts balance sheet ballooned,â? continues Mr.
> > > Pento, â?othe
> > > dollar amount of capital held at the Fed has remained fairly constant.
> > > Today,
> > > the Fed has $52.5 billion of capital backing a $2.7 trillion balance
> > > sheet.
> > >
> > > â?oPrior to the bursting of the credit bubble, the public was shocked to
> > > learn
> > > that our biggest investment banks were levered 30-to-1. When asset
> > > values
> > > fell, those banks were quickly wiped out. But now the Fed is holding
> > > many
> > > of
> > > the same types of assets and is levered 51-to-1! If the value of their
> > > portfolio were to fall by just 2%, the Fed itself would be wiped out.â?
> > >
> > > Mr. Pentoâ?Ts and Mr. Mobiusâ?T views line up with our own, which we
> > > laid
> > > out
> > > during interviews on our trip to China this month.
> > >
> > > An Eye on the Next Financial Crisis by Addison Wiggin originally
> > > appeared
> > > in
> > > the Daily Reckoning.
> > >
> >
> >
> >
> >
> > ------------------------------------
> >
> > Yahoo! Groups Links
> >
>
>
>
>
> ------------------------------------
>
> Yahoo! Groups Links
>
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