TARP Supporters suck on this...

Obfuscate said:
I think it's alot more possible the DOW would be 10,000 and the liquidation would be near complete with NO bailouts {Stimulus 1, TARP, relowering the Funds rate to 1% again}.
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And I fart fairy dust.

Obfuscate said:
Small smart banks would take over pieces of incompatent ones.
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http://en.wikipedia.org/wiki/Andrew_Mellon#The_Great_Depression

Many economists today (such as Milton Friedman and Fed Chairman Ben Bernanke, to give two prominent examples[citation needed]) partially attribute the collapse of the American banking industry to the popularity among Federal Reserve leadership of Mellon's infamous "liquidationist" thesis: weeding out "weak" banks was seen as a harsh but necessary prerequisite to the recovery of the banking system. This "weeding out" was accomplished through refusing to lend cash to banks (taking loans and other investments as collateral), and by refusing to put more cash in circulation. He advocated spending cuts to keep the Federal budget balanced, and opposed measures for relief of public suffering.





Obf thinks he's some sort of new and original genius when, in fact, all the policies he proposes have been tried and been failed in the past.

Reminds me of a great Keynes quote:

“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slave of some defunct economist.”
 
Obfuscate said:
Trade is no issue, it's been a win win for both sides IE Comparative Advantage.

Bad debt IS a major problem. I don't see how creating more is somehow the solution.
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That's just another measure of how you have no economic sense, and keep on putting your ideology above common sense.

There's capital all around the world that nothing is being done with right now because the markets are so spooked. If the government gets loans and puts this capital into action...

Ah, to hell with it. Arguing with you is like playing wack-a-mole.
 
LOL @ Wiki

Friedman argued about the money supply decreasing 1/3 from 29-33 was a major cause of the Depression. Bank failures whipped out the money supply that's why we have an FDIC insurance now and I fully support FDIC. That is a big differance than propping up bad banks that made poor decisions. Banks can be liquidated without the the real money supply decreasing. See Bear Sterns, WAMU, ect. I have/had a WAMU account, they go down, I wake up, my accounts are all the same. No bank run....
 
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