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@yahoo.com>
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.
> >
>
>
>
>
> ------------------------------------
>
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