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bruce MN
Advisor

Re: Did anyone watch "Too Big to Fail?"

No funny that you didn't find anything. It was Bradley Manning I was thinking about.

 

I googled Jeffrey Manning and all I got was Payton and Eli links. Only locked up Jeffrey I can think of off hand would have been Dahmer and that was no witch hunt.

 

 

hardnox604008
Advisor

Re: Did anyone watch "Too Big to Fail?"

Bradley Manning, the wikileaker.

Samnospam
Advisor

Re: Proposals?

As I've illustrated to you many times your pop culture history is false.
Samnospam
Advisor

Re: Did anyone watch "Too Big to Fail?"

The only runs going on were uninsured hedge fund accounts. You think people would have run on insured accounts?
bruce MN
Advisor

Re: Proposals?

Illustrated.? When? How? All I ever see is statements of assuredness and your gold standard tag line. I gueww that today you linked osmething from freaking WorldNetDaily for God's sake about somethin gtotally unrelated to anything relevant in the economy or civic or public scene.. WND.....cripes...I thought all good Randheads were atheists, agnaostic or at worst secular?  John Galt didn't go to church or temple that I remember.

 

 

And Yuppe.....I got my understanding of the history of the last century, which I lived through the entire second half of and in the shadow of and to a great degree considerably under the effects of the 2 closely intertwined horrors of the 3 great ones of the first half of , from popular fiction...movies, novels, TV shows. From listening to Woody Guthrie and Pete Seeger and reading Steinbeck and Heller.  Sheeeese. Oh, yeah...watching Hogan's Heroes and McHale's Navy.

 

The numbers...the evidence...the recorded evidence be damned, I guess.

 

For a guy who is an adherent to a cultish economic movement that both the left and right, both the Keynsians and the Freidmanites see as no more than a "cutesy" and  lingering remnant of an old Celtic resentment towards modernism in all forms calling the recorded history "pop culture" is amusing.

 

I've never seen anybody go so far as to blame stock crash on the party that wasn't in office. The GOP was just coming off of a Reagan-Bush 41 like run of White house occupancy.

 

I just did the math and the current Democratic administration has been in office as for almostexactly the same number of months as Hoover had been from his innaugaration until Black Friday in Oct. '29.

 

Governing way off to the right as he has most certainly been ain't working out  much better for Obama than it did for Hoover, come to think of it. And Hoover was actually considered to be a TR sort of GOP Progressive. But the permanent govt. of oligarchy gave it to him square in the bung, just like they've been doing lately since being unleashed by Clinton and Bush (Greenspan-Rubin etall). So badly that the percieved cure is more of the same old heroin (Geithner)...or at least methadone, or "the hair of the dog".

 

hardnox604008
Advisor

Re: Proposals?

http://www.lewrockwell.com/rothbard/rothbard96.html

 

From the Murray Rothbard, the demigod of economic libertarianism.

r3020
Senior Advisor

Re: Proposals?

May be if Barney Frank was worried more about the solvency of fannie/freddie than he was his male lover getting a job things would have turned out differently. Yeah, the economy was going into the gutter if Warren Buffet didn't get bailed out on his CDS.

kraft-t
Senior Advisor

Re: Did anyone watch "Too Big to Fail?"

You don't seem to realize how little physical capital is present in your local bank. Cash transfers between banks is what keeps the system functioning. That strategy can quickly be upset by banks calling loans from other banks . Plus depositors will call their own deposits even if insured if they is a possibility that their cash may be frozen for a time.

 

Even McDonald and GE were having problems finding capital for daily and weekly operations and would have shut down had the tarp no been forthcoming.

Samnospam
Advisor

Re: Did anyone watch "Too Big to Fail?"

GE was bankrupted by their own financial crimes. They should have been allowed to fail. Don the average American has very little in savings, the deposits are insured, talk of bank runs are likely a scare tactic. I never said had the government not stepped in there would not have been significant turmoil, but rather that you can have short term turmoil followed by recovery. Or you can have our current system where only those who caused the problem thrive while everyone else is stuck in a debt burdened stupor from which there is no escape. Any object look at our economy will confirm this.
bruce MN
Advisor

Re: Proposals?

Thanks nox. I've had that bookmarked for quite some time but it was good to go back and read it again under the context of this precipice we are standing over.

 

I often wonder if these mini Morgans who get off on this Austrian provincialism ever wonder if they would have ruled and held the day if there would even be a graded road into town from where they live?

 

But the historical stuff in there is extremely informative. In reading it again, the descriptions of reckless "conservative" policies that wound up being so destructive to employment and the human condition are becoming more and more parallel to current time than they'd ever appeared to previously.

 

Rothbard had a sharp wit  to nim. And a mind like a trap. And I would also think some very loyal and generous benfactors.