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Diogenes
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Post by Diogenes »

kcdodd wrote:
"Spoiled child of rich parents who never worked at a physically hard job, and now makes their living playing make believe characters in a pretend world as an actor, but still feels the need to lecture others about how to deal with matters involving the real world."
Oh, you mean GW?


You are probably closer to right than you know. George W is not the most obvious example of what I referred to above, but he is not that far from it. Both him and his father George H.W. Bush were the spoiled kids of rich parents, and perhaps that is the reason for their foolish behavior while they were President. George H.W not only didn't understand who his political enemies were, he wasn't even aware he was in a war! *
The same could be said of GW, but to a lesser extent. GW did some things right, but there were some very important things that he did absolutely wrong! One of them was the abdication of conservative principals regarding fiscal sanity.
kcdodd wrote: My point is you don't use labels for convenience. What you do, in the case of opposition, is make a label, define it in a negative context, and then apply it to the person you disagree with. You also tend to define it using evidence which can, in general, also be applied to people you claim to agree with.

The very definition of the Straw man argument, with a little side order of Tu quoque. :)

I don't think i'm criticizing a caricature and then claiming my beaten up straw man is what liberals are actually like, I'm pointing out that the various constituency groups which makes up the "Liberal" side of the political environment really are so silly that you cannot caricature them sufficiently enough! Likewise that they are fools, and every time the nation gives them a chance to govern, they imperil us all. I would further point out that this state of affairs was only made possible by the erosion of the original requirements for voting. I.E. Taxpaying landowners.

Now that we have a system which allows people on welfare to share their obvious great wisdom with everyone through the ballot box, we elect an unending series of idiots who bribe other aforementioned idiots with the money created by the productive members of society.

Yeah, this is gonna end well.


Consider for a moment that Governor "Moonbeam" is running in California again.





* Had George HW Bush NOT broken his "Read My Lips" promise by trying to reason in good faith with the Democrat Leadership (who absolutely insisted that it was simply impossible for the country to continue without another tax increase) he would have been able to bring up the "Character" issue against Bill Clinton. Clinton had already been caught in a whole series of lies (I didn't inhale, I didn't dodge the draft, I didn't protest America while in England, etc... ) but George HW Bush could not point out that Clinton was a habitual liar, because George HW Bush had already made the most public and outrageous lie that any politician could have made, and the Democrats were shoving that lie down his throat throughout the entire election.

That lie, cost George HW Bush the election of 1992. Upon that lie, hinged the Waco disaster, the OkC federal building, Osama Bin Laden, Supreme court judges, the expansion of the CRA and forced loans (Freddie Mac and Fannie Mae) which turned out to be the Housing economic bubble, the twin towers, the war on terror, the war in Iraq, the prevention of interfering with Iran which is a far worse threat, and possibly the virtual collapse of the American (and world) economic system.

It is my opinion that a person grounded in reality would never have broke his word about such an important issue. It had consequences, and they were dire.

MSimon
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Post by MSimon »

I think physicists are just concerned with other things most of the time.
I believe you have made my point for me. Engineers HAVE to be concerned about economics. Physicists not so much.
Engineering is the art of making what you want from what you can get at a profit.

MSimon
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Post by MSimon »

We differ on how we view the role of government.
Yes. You believe that government, which gets its money by theft (at the point of a gun) can be more cost effective than companies which (absent government coercion) must earn their money by enticing customers.

You think that force (government guns) is a useful tool to solve many problems. I believe that there are few problems amenable to that approach.
"Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master." Geo. Washington
Nice to see you put your cards on the table though. At the heart of what is commonly called liberalism these days is a love of coercion or as liberals prefer - government. They can't say "I love seeing people on the rack". The preferred narrative is: "Improve your health with a body stretcher." Forgetting to mention that after the body stretcher (imprudently done as it always is) comes the body bag. (nice pun stretcher/stretcher don'tcha think?)
Engineering is the art of making what you want from what you can get at a profit.

kcdodd
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Location: Austin, TX

Post by kcdodd »

That's your opinion. If your viewpoint didn't seem to only hinge on what seems like simple selfishness I would be more inclined to agree. Get rid of government regulation, as you say, and everything would be fine. What you get, instead, is business and free market self regulation. You say this is far better and more efficient. I would agree, it is more efficient, at making money for those in charge. Those few become more powerful and, as now, are even more powerful then the government you so insistently opposed. Only now you have no recourse whatsoever. You honestly think "choosing", as a consumer, whether or not to buy the big companies whatsit at the corner mega store will really change something (eg child labor) better then voting?

Does that make me a socialist? To you it probably does. Pure free market, as libertarians seem to want, do not self regulate to the best possible situation any more then pure socialism does in imposed complete regulation. Just look at every depression generated by the free market. You make every liberal sound like a socialist because they want the government to oversee the mess companies make in the wake of so called economic progress.
Carter

MSimon
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Post by MSimon »

If your viewpoint didn't seem to only hinge on what seems like simple selfishness
What is more selfish than organized theft? Organized murder I suppose.

Also in line is using government to guarantee profits (rent seeking); which is just another means of theft. It is my opinion that such behavior can't be absolutely eliminated. It can be reduced to a minimum by strictly limiting government.

A system based on theft can't last too long because once theft is the law of the land no one (an exaggeration) wants to produce and everyone wants to steal. i.e. the incentives are counterproductive. Where does it lead? To clandestine producers/importers and black markets.

http://english.pravda.ru/opinion/columnists/109977-0/

and

http://powerandcontrol.blogspot.com/200 ... prise.html

May I add that there is no perfect system. What you have is a choice between bad and worse. Or as Maggie Thatcher put it:

The trouble with socialism is that you eventually run out of other people's money.

and Winnie C:

It is a socialist idea that making profits is a vice; I consider the real vice is making losses.

Government is very good at making losses.

Some see private enterprise as a predatory target to be shot, others as a cow to be milked, but few are those who see it as a sturdy horse pulling the wagon. Winston Churchill

When the incentives are against pulling the wagon......
Engineering is the art of making what you want from what you can get at a profit.

kcdodd
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Location: Austin, TX

Post by kcdodd »

I think I agree with you on many of your positions. I don't think welfare is a good idea. I don't think state RUN anything is a good idea. I don't think redistribution of wealth by tax is a good idea either.

However, it seems "libertarian" ideas lead to a complete dismantling of oversight, preferring a nearly blind faith that free market will provide the best outcome that is possible in a type of natural selection process. I agree that if the goal is to create the biggest and most powerful company that is the correct model. It seems that model is completely insensitive to any individual, and given free rain will actually suppress personal liberty as group business gains more power than the individual.

But I also agree that pure socialism stifles all positive evolution (natural selection of the "best" of any kind).

I think government does have a very large role in regulating the economy, from outside. I think that business have already taken over government and has bent it to it's will. I know Diogenes mentioned the loan crisis. Those laws were basically constructed by the banking industry, just as the bailout was. The worst of all possible worlds is when business and government get together.
Carter

Diogenes
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Post by Diogenes »

kcdodd wrote:I think I agree with you on many of your positions. I don't think welfare is a good idea. I don't think state RUN anything is a good idea. I don't think redistribution of wealth by tax is a good idea either.

However, it seems "libertarian" ideas lead to a complete dismantling of oversight, preferring a nearly blind faith that free market will provide the best outcome that is possible in a type of natural selection process. I agree that if the goal is to create the biggest and most powerful company that is the correct model. It seems that model is completely insensitive to any individual, and given free rain will actually suppress personal liberty as group business gains more power than the individual.

But I also agree that pure socialism stifles all positive evolution (natural selection of the "best" of any kind).

I think government does have a very large role in regulating the economy, from outside. I think that business have already taken over government and has bent it to it's will. I know Diogenes mentioned the loan crisis. Those laws were basically constructed by the banking industry, just as the bailout was. The worst of all possible worlds is when business and government get together
.
I think you are in some degree correct on this. There is TOO much involvement between businesses and government. BP contributions to Obama is just one example of this. There is influence buying throughout the system, and I think you are right about an industry/government alliance being terrible for everyone else.

However, many of the relationships between Government and Industry are launched as a result of Government wanting to propose some new law or regulation which unthinkingly may impose a severe burden on some company, so many companies band together to hire lobbyists for the purpose of self protection. In other words, a defensive maneuver evolves into an offensive maneuver. Once a relationship is established between lobbyists and government to insure congress doesn't accidentally destroy an industry, the relationship exists for these same lobbyists to steer profits towards that industry.

If congress didn't insist on doing things outside it's mandate, and if both the lobbyists and congressmen abided by the ole Judeo-Christian ethics which is currently on the wain, then we wouldn't be having this problem.
What would help greatly is a lot more "churn" in congress. This is one reason I favor term limits. Keep cycling them through, and no one is going to have enough influence for these sort of shenanigans.


As for the laws being constructed by the banking industry, I have yet to see any evidence of this. From my reading, these laws were constructed by motivated liberals attempting to help their minority constituencies. The banks did not like these laws at all.

The CRA (community reinvestment act) was initiated by Jimmy Carter, and under this act racial data was collected regarding housing loans. (The presupposition being that minorities were being unfairly denied loans.) Data was collected throughout the Reagan and Bush Presidencies, but nothing was done with it. When Bill Clinton became president, he ordered a review of the CRA data, and no surprise, the liberal reviewers discovered that because minorities were not getting nearly as many loans as non minorities, the only possible explanation had to be racism. As a result, Bill Clinton pushed for an expansion of the CRA, and the Democrats in congress complied. (specifically Barney Frank and Frank Dodd.)

The updated CRA act made it COMPULSORY for banks to loan money to minorities who were bad credit risks. Freddy Mac and Fannie Mae were instructed to inform the banks that THEY would cover the loans if any of them defaulted. As Freddie Mac and Fannie Mae were both backed up by the US government, the banks felt the money was secure enough so that they could overlook their own prudent lending policies.

The result was the housing bubble.

I have a very dear friend who moved to Dallas, and ended up marrying a woman who had secured one of these loans. The first time I went down for a visit, I marveled at how nice her house was, and I simply couldn't believe that the head of a cosmetics counter for a large department store could afford such a home. Well, about a year ago they lost everything. Apparently good intentions is the paving material for the road to hell.


At any rate, the whole issue is covered quickly in what was once a very popular and viral video, but YouTube kept pulling it on facetious grounds.
It kept getting put back up, but it's nowhere as good as it once was.

http://www.youtube.com/watch?v=1RZVw3no2A4

Diogenes
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Joined: Mon Jun 15, 2009 3:33 pm

Post by Diogenes »

Funny this topic should be brought up.


http://jammiewearingfool.blogspot.com/2 ... html#links

kcdodd
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Post by kcdodd »

Thank you for the video. However, if you actually go to the CRA entry of wikipedia you can find other commentary. There is a study showing that CRA lending tended to actually be more responsible then non-CRA lending. Most of the subprime lending was done by banks not under CRA.
Carter

Diogenes
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Joined: Mon Jun 15, 2009 3:33 pm

Post by Diogenes »

kcdodd wrote:Thank you for the video. However, if you actually go to the CRA entry of wikipedia you can find other commentary. There is a study showing that CRA lending tended to actually be more responsible then non-CRA lending. Most of the subprime lending was done by banks not under CRA.

Then why are we giving Freddie Mac and Fannie Mae a trillion dollars?

http://247wallst.com/2010/06/14/fannie- ... -trillion/

Oh also, here's another Bush Larva sounding like an idiot.

http://politicalticker.blogs.cnn.com/20 ... 4Hlia8uSu3

MSimon
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Post by MSimon »

JLawson wrote:It's wierd. Almost seems like the bad guys are the heros, while the folks attempting to stop them are to be fought tooth and nail.
You might like this video:

http://www.pjtv.com/v/3801
Engineering is the art of making what you want from what you can get at a profit.

MSimon
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Joined: Mon Jul 16, 2007 7:37 pm
Location: Rockford, Illinois
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Post by MSimon »

kcdodd wrote:Thank you for the video. However, if you actually go to the CRA entry of wikipedia you can find other commentary. There is a study showing that CRA lending tended to actually be more responsible then non-CRA lending. Most of the subprime lending was done by banks not under CRA.
Banks were "encouraged" to do subprime lending to balance their lending portfolios so that disadvantaged communities (read: by race) got loans in order to get regulatory favor.

The banks then packaged the loans and sold them off. i.e. handed the toxic loans to some one else. With out this mechanism no responsible banker would have gotten involved.
Engineering is the art of making what you want from what you can get at a profit.

Diogenes
Posts: 6976
Joined: Mon Jun 15, 2009 3:33 pm

Post by Diogenes »

To provide further evidence in support of my et al claim that Democrats manipulation of the housing market to play social engineering games CAUSED the current financial mess the country is now dealing with, I give you CANADA, for Contrast.


The difference between Canadian and US housing markets?

The Washington Post finally mentions the real difference between the mortgage and home market systems in Canada and the United States in the eighth paragraph of its instructive comparison. Canada’s lending and residential markets have remained relatively healthy, and instead of the deep recession seen in the US over the last two years, our northern neighbors had a relatively easy ride during the same time. Home values have ridden a roller coaster in the US, while Canada has seen a remarkably stable upward trend uninterrupted by the worldwide economic crisis.
http://hotair.com/archives/2010/06/24/t ... g-markets/



The point being, Idiot liberals (who cannot seem to comprehend ANYTHING about economics) decided to use the power of government to force banks to loan money to people who were bad or poor credit risks.

In Canada, they did not do this. The Results speak for themselves.

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