When does Capitalism fail?

[UncleBuck]

Other such legislation has affected me adversely by eliminating late payments and other things that provided credit card companies with plenty of cushion to give their better customers great deals, lower balance transfer fees, etc. Now all of the legislation protecting the consumer from themselves has cost additional fees to everyone in the form of higher rates, higher balance transfer fees, etc.

sounds like you're dealing with one of those retard banks, not any half decent credit union.

my condolences that home depot changed their policy on lawnmower loans. must have hurt you bad.

 

[UncleBuck]

Lets see you try to prove that one...

Or redefine the argument and sidetrack as usual.

so capitalism always succeeds? less regulated markets don't sometimes blow up and crash? something like that didn't just happen about 5 years back?

 

[NLXSK1]

sounds like you're dealing with one of those retard banks, not any half decent credit union.

my condolences that home depot changed their policy on lawnmower loans. must have hurt you bad.

Flipping houses, not lawnmower loans. You have plenty of time to do a remodel, put the house on the market and sell it and use the proceeds in escrow to pay off the loans. Very tidy and useful.

Home Depot didnt hurt me but it sure as hell didnt help me either... Balance transfer fees doubled from 2% to 4%... Now that does hurt when you are moving large loans.

 

[NLXSK1]

so capitalism always succeeds? less regulated markets don't sometimes blow up and crash? something like that didn't just happen about 5 years back?

You mean the crash due to the banks being forced to give out bad loans backed by a government run secondary mortgage market??

That is a good example of what capitalism is not...

 

[NLXSK1]

sounds like you're dealing with one of those retard banks, not any half decent credit union.

my condolences that home depot changed their policy on lawnmower loans. must have hurt you bad.

Tried a credit union for a few years... Not many branches, low tech websites, limited technology... They pretty much suck ass if you are a businessman. Not that you would know anything about that. Your wife wont even let you have a credit card...

 

[UncleBuck]

You mean the crash due to the banks being forced to give out bad loans backed by a government run secondary mortgage market??

That is a good example of what capitalism is not...

first of all, fannie and freddie are NGOs. that means non-government, lawnmower pusher.

second, banks were not forced to give out bad loans, but they did. can't blame that on the government more than you can blame your faulty gas linee on that old toro on the government, kiddo.

third, banks were deregulated and allowed to bundle all those bad mortgages that they chose to give out.

then, private ratings companies gave those worthless bundles of crap AAA+ ratings.

government's biggest role in all of that was getting out of the way of the banks by repealing glass-steagall.*

but you go on believing in your make believe, fairy tale version of events. just like you play fantasy, role playing games.

we all know how that works out when reality inevitably comes rolling in.

 

[UncleBuck]

Tried a credit union for a few years... Not many branches, low tech websites, limited technology... They pretty much suck ass if you are a businessman. Not that you would know anything about that. Your wife wont even let you have a credit card...

sewing patches on boy scout uniforms doesn't make you a businessman, it makes you a creepy pedo.

 

[Dr Kynes]

first of all, fannie and freddie are NGOs. that means non-government, lawnmower pusher.

second, banks were not forced to give out bad loans, but they did. can't blame that on the government more than you can blame your faulty gas linee on that old toro on the government, kiddo.

third, banks were deregulated and allowed to bundle all those bad mortgages that they chose to give out.

then, private ratings companies gave those worthless bundles of crap AAA+ ratings.

government's biggest role in all of that was getting out of the way of the banks by repealing glass-steagall.*

but you go on believing in your make believe, fairy tale version of events. just like you play fantasy, role playing games.

we all know how that works out when reality inevitably comes rolling in.

NGO's which were created by, guaranteed by and operated by the congress of the united states...
yeah super independent they were.

and you claim i "make up definitions"? (and somehow impose my will on the makers of textbooks, dictionaries and publishers of manifestos, books and pamphlets, including many printed long before i was born...)

man youre full of shit.

 

[NLXSK1]

I typed up this long thing and then realized that explaining how the government created the very bubble that you accuse banks of would have about the same effect as trying to teach physics to a rock...

This is why I dont stay here, you have 0 lasting entertainment value.

 

[RyanTheRhino]

who gives a fuck, go Bernanke, i am riding your inflation train in equities to the bank. Everyone listening there will be a rather large pullback in the stock market coming up shortly Invest all you can when it happens. I cant believe people get paid to look after others stocks lmao, Its a numbers game and im good with numbers so far i haven't been wrong in 1 year lol. i keep compiling more wealth out of nowhere. inflation has its good sides if you see it

 

[Dr Kynes]

who gives a fuck, go Bernanke, i am riding your inflation train in equities to the bank. Everyone listening there will be a rather large pullback in the stock market coming up shortly Invest all you can when it happens. I cant believe people get paid to look after others stocks lmao, Its a numbers game and im good with numbers so far i haven't been wrong in 1 year lol. i keep compiling more wealth out of nowhere. inflation has its good sides if you see it

but youre made of marijuana, so youre worth ~$250 an ounce.

you basically shit money.

 

[UncleBuck]

but youre made of marijuana, so youre worth ~$250 an ounce.

you basically shit money.

i'd be shitting money too if i charged $250 an ounce. as it is, demand is outpacing supply, so i should go towards that number. but i refuse on principle.

 

[UncleBuck]

I typed up this long thing and then realized that explaining how the government created the very bubble that you accuse banks of would have about the same effect as trying to teach physics to a rock...

This is why I dont stay here, you have 0 lasting entertainment value.

in other words, you got nothing. at least kynes made a half hearted attempt.

 

[UncleBuck]

NGO's which were created by, guaranteed by and operated by the congress of the united states...
yeah super independent they were.

and you claim i "make up definitions"? (and somehow impose my will on the makers of textbooks, dictionaries and publishers of manifestos, books and pamphlets, including many printed long before i was born...)

man youre full of shit.

why don't you tell me what the operating instructions were, and tell me if you think banks and NGOs behaved within those guidelines?



i'll tell you why you don't: no juice. it defeats your (half hearted) attempt at tracing a larger share of blame for the last crash back to government.

the government had the much smaller role in that fiasco, and you know it. government getting out of the way was in fact one of the biggest factors.

 

[Doer]

Flipping houses, not lawnmower loans. You have plenty of time to do a remodel, put the house on the market and sell it and use the proceeds in escrow to pay off the loans. Very tidy and useful.

Home Depot didnt hurt me but it sure as hell didnt help me either... Balance transfer fees doubled from 2% to 4%... Now that does hurt when you are moving large loans.

And if it was de-regulated, how much would it be and how often would it change? And how wide the swing?

So, that's interesting. De-regulated lending has be termed usury, shy-locking, loan sharking....

The way people talk about this.....you know why we have the regulations, right? We have tried all of it before and ended up here.

(flipping houses, burned my butt, the times I've tried it. Good luck)

 

[Doer]

in other words, you got nothing. at least kynes made a half hearted attempt.

All those old theories have been superseded and mathed out. Kynes' flaw, is it expects the govt to be able to save for a rainy day. It needs an enlightened governance.

And Supply side economics won't trickle down, very well. It depends on enlightened Industry.

The new math that we have practiced in the computer business is John Forbes Nash Game theory. Coop-ertition. Make the pie bigger. It is a growth model that includes both partnering and competing with the same Company.

We are so in bed with IBM it make me sick, and I'm sure that's how they feel about us. HP, the same.

 

[NLXSK1]

And if it was de-regulated, how much would it be and how often would it change? And how wide the swing?

So, that's interesting. De-regulated lending has be termed usury, shy-locking, loan sharking....

The way people talk about this.....you know why we have the regulations, right? We have tried all of it before and ended up here.

Why did we end up here?

Are you saying that people are unable to enter into contracts without the government's interference?

It isnt capitalism anyway. The banks are regulated, they are required to keep x amount of capital and allowed to lend X* the amount of deposits, etc. This is all determined by the government and banking regulations. Then if a bank fucks up it is bailed out by the government. There is nothing capitalistic about that.

Who determines Usery? Maybe I dont mind paying 300% interest on a loan. Why do you feel the need for the government to step in and tell me what is too much to pay?

 

[Doer]

No, remember my point about Vendetta? I say that law is primary for diffusing blood feuds. So, I may loan you at 300% but if you don't pay I have to hurt you.

Now your family is very pissed and I messed with the wrong people. Now there is blood and fear and civil unrest descending into warlordism.

Do you know what a Mafia breakout is? You can't pay back? They break on you a bit, and then they just take your business. Run up all your commercial credit they convert the goods to cash, on their blackmarket, and you are bankrupt.

This is why the world has alway from biblical times, look poorly on Usury. It's fine until you can't pay, and then there is blood.

 

[NLXSK1]

No, remember my point about Vendetta? I say that law is primary for diffusing blood feuds. So, I may loan you at 300% but if you don't pay I have to hurt you.

Now your family is very pissed and I messed with the wrong people. Now there is blood and fear and civil unrest descending into warlordism.

Do you know what a Mafia breakout is? You can't pay back? They break on you a bit, and then they just take your business. Run up all your commercial credit they convert the goods to cash, on their blackmarket, and you are bankrupt.

This is why the world has alway from biblical times, look poorly on Usury. It's fine until you can't pay, and then there is blood.

What does any of that have to do with capitalism?

If I dont pay, the lender can sue me. Any other action such as you suggest is criminal.

People keep dragging extraneous shit into this argument.

 

[RyanTheRhino]

I typed up this long thing and then realized that explaining how the government created the very bubble that you accuse banks of would have about the same effect as trying to teach physics to a rock...

This is why I dont stay here, you have 0 lasting entertainment value.

whats ironic is that a rock can teach/show you physics.