Started by fugibo, June 19, 2009, 09:51:18 pm
QuoteThe general underlying claims in part I of the video are correct, but the overall message is misleading/underdeveloped. Some true facts:1. Federal Reserve Controlling the money supply - The Fed's primary task is to control money supply and tilt credit conditions in pursuit of maximum employment, stable prices, and moderate long-term interest rates.2. 10% holding reserve for banks - this is true, although if someone takes out a 10B loan it is not guaranteed that that loan turns into 90B. Instead of the loan being deposited in another savings account it could be used to pay down other loans, etc etc. Recently that is what american's have been doing - deleveraging or paying down debt. The national savings rate has gone from -2% to +5% - this is a huge swing historically and only happens in bad recessions.3. His argument on interest is flawed - interest is charged because there is some inherent risk of default in the loan made. (default being the person who took the loan cannot pay it back). The bank charges a higher rate than the risk free rate it gets from the fed and pockets the difference for the risk it takes on by issueing the loan. You will learn about this theory more in the CAPM (captial asset pricing model) which basically says the more risky an asset is the more interest you have to pay or the more excess return you receive for holding that asset. I would ask the creator of the film this, if it is truely is a "rigged" system for all banks, why are so many banks currently going into bankrupcty? The answer is that there is a risk in giving that loan and that risk from many large loans going into default can result in huge losses.
Quote from: winkioI do not speak to bricks, either as individuals or in wall form.
Quote from: Barney StinsonWhen I get sad, I stop being sad and be awesome instead. True story.
Quote from: winkio on August 05, 2009, 07:22:17 pmI dislike internet arguments because there is no reliability, no expertise, and often times no balanced point of view. That's fine in good fun and all, but when people start taking it seriously, and believing in it, it's a problem. Unbiased research people. Cold hard facts. Look at all sides of the topic. Don't fool yourselves.That is all.
Quote from: legacyblade on August 05, 2009, 11:31:22 pmIt was a whim. I was bored and posted in the debate. I didn't research to backup my position nor did I provide specific examples nor sources. That is an example of me just tossing something out there because I'm bored. If I'd taken a stance on a political issue, there would have been a well written essay. I'm an english major, that's what I do when I want to take a stance: write an essay. I was just bored, I believe those things though I do not have well formulated arguments at this time to defend them. Now if you'd like to convince me that my opinion is wrong, cite specific instances, give real statistics, make logical arguments (aka, write an an actual argument, not just "ur wrong, and this is why I think so") Your "stance" on the issue was no more convincing nor thought out than mine. Now your argument about bush was better done, but you still cited no sources, nor did you examine it from both angles and persuade anyone that you were correct. I was not taking a stance, and if those posts of yours were an attempt to do that...well I feel sorry for you if you plan on being an english major, politician, or a lawyer. I'm not taking a stance, I was just throwing out my opinion. I'm far to busy with overdue schoolwork to take a stance, so just accept what I posted as what it was: my opinion. It was not an argument or an attempt to convince others; it was simply my opinion. I have not formulated all the proper elements of my opinion to turn it into a "stance" as you call it. So don't say I'm a pussy just because I'm too busy to write you an essay.(btw, this is not flame, but using words like "pussy" and "bull****" don't make you sound tough, convincing, or smart. They make you sound like an ignorant moron feebly attempting to express himself in a forceful manner.)
Quote from: winkio on August 05, 2009, 07:22:17 pmI wish my elementary school had economics. Then I could be smart too!
Quote from: Blizzard on August 06, 2009, 12:18:56 pmwinkio doesn't need to give you any facts as you provided none. This means that if neither of you is actually going to provide any, nobody should actually say anything more. Just throwing out there that you guys have no reason to even start a fight. °_°;
QuoteIf you aren't much of a person for internet debate, then don't give opinions, misinformation, and an unbalanced view to someone looking for answers. You know how lots of people think that the majority of Americans/the world are stupid? THIS IS WHY. And stop trying to worm your way out of it. You took a stance, so stand behind it. Don't be a pussy when someone calls you out.
Quote from: legacyblade on August 06, 2009, 05:40:48 pmYes but he was calling me out on not wanting to defending my view. I was explaining I don't give a crap about internet debating or I WOULD have given things to support my argument. Honestly, if we just shout our opinions back and forth and go "NUUU, UR WRONG!" "NUUU, UR WRONG" in a slightly more elegant manner, then it isn't debating it's just acting like morons (which is why I normally avoid posting in "intelligent" debate in the first place, lol). My above post was pretty much saying "I was bored. I posted and don't feel like posting more to defend the position. I'm NOT taking a stance, so deal with it."
Quote from: my grandauntWhen everybody is spending money, you should save it. When everybody is saving money, you should spend it.