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re: "Alan Greenspan Blasts Trump's Tariffs as "Insane"" Bloomberg

Posted on 11/15/18 at 10:57 am to
Posted by roadGator
Member since Feb 2009
140719 posts
Posted on 11/15/18 at 10:57 am to
quote:

They are a tax that we will all pay 


Gilum may disagree.
Posted by 0
Member since Aug 2011
16646 posts
Posted on 11/15/18 at 10:58 am to
quote:

He admitted that BUT he is also correct in that tighter money would not have really stopped the collapse because of the government policy in regards to Fannie and Freddi but it could have made the bubble smaller.


The entire operating system he was overlooking was so flawed and corrupt it is staggering it actually stayed afloat as long as it did. “Tighter money” is just the tip of the iceberg.
Posted by GumboPot
Member since Mar 2009
119026 posts
Posted on 11/15/18 at 10:58 am to
TBH, I don't know what makes a good or bad Fed Chairman.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 10:58 am to
quote:

Ross is so determined to protect his investments in and friends in the steel industry that he is rumored to be trying to pull a fast one on Trump by suggesting quotas instead of tariffs with the Mexicans and the Canadians.


Still on that are we?


Simply fact. Fact that has not changed.
Posted by The Maj
Member since Sep 2016
27196 posts
Posted on 11/15/18 at 10:58 am to
Posted by SirWinston
PNW
Member since Jul 2014
82178 posts
Posted on 11/15/18 at 10:59 am to
Wow Alan Greenspan is a Globalist who doesn't care about American workers. This is my shocked face.
Posted by GumboPot
Member since Mar 2009
119026 posts
Posted on 11/15/18 at 11:01 am to
All your tariff/Trump bashing will simply lead to a Democrat taking the White House and then you get massive regulations and higher taxes.

Is that really what you want? Is your view of of the presidency that myopic?
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 11:02 am to
That is true.

Those banks were buying and creating derivatives on loan packages in such large volumes that no entity could have the capital to stand behind them.

It was really crazy nobody every questioned them. They would sell default derivatives on the same packages of loans hundreds of times and no one every said "can you financially cover these commitments if the package declines in value 5%?"
Posted by roadGator
Member since Feb 2009
140719 posts
Posted on 11/15/18 at 11:03 am to
Admins: we really need that IB Screamin' board
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 11:04 am to
quote:

Wow Alan Greenspan is a Globalist who doesn't care about American workers. This is my shocked face.


Can you explain you apparent conclusion that the trade war helps the American workers??

Do you have any facts this trade war is going to help the total number of employed people in America??

Who is ultimately paying the tax?
This post was edited on 11/15/18 at 11:05 am
Posted by GumboPot
Member since Mar 2009
119026 posts
Posted on 11/15/18 at 11:04 am to
quote:

That is true.

Those banks were buying and creating derivatives on loan packages in such large volumes that no entity could have the capital to stand behind them.

It was really crazy nobody every questioned them. They would sell default derivatives on the same packages of loans hundreds of times and no one every said "can you financially cover these commitments if the package declines in value 5%?"


The bottom line is if the credit agencies would have rated the MBS's accurately those derivatives would have been fine. The failure happen because risks was not properly evaluated.
Posted by GumboPot
Member since Mar 2009
119026 posts
Posted on 11/15/18 at 11:06 am to
quote:

Can you explain you apparent conclusion that the trade war helps the American workers??



There is no trade war. We are in a middle of a re-negotiation. War is a strong term. We are just shouting at each other right now. But at least we are still talking.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 11:07 am to
We probably do need a board for Trumpkins where they can all make post after post expressing their belief the man is genius and infallible and anyone saying otherwise is UnAmerican and a communist.

PT would probably lose 75% of it's threads if all such topic were moved to that board.
Posted by GumboPot
Member since Mar 2009
119026 posts
Posted on 11/15/18 at 11:07 am to
quote:

Who is ultimately paying the tax?


Consumers.

I thought you liked consumption taxes?
Posted by TeLeFaWx
Dallas, TX
Member since Aug 2011
29179 posts
Posted on 11/15/18 at 11:09 am to
quote:

TBH, I don't know what makes a good or bad Fed Chairman.


Just look in to the Greenspan put. Anyone that thinks they can manipulate the market and not have to pay for it is a fricking moron. He's the definition of it.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 11:10 am to
quote:

The failure happen because risks was not properly evaluated.



First logical thing you have actually posted in weeks.

Moodys and S&P should have sued out of business.

Banks should have had too to report their potential liabilities too. At least that would have made them stop and think.

They had so much liability that even small changes in the default rates on those huge packages cost them billions.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
261538 posts
Posted on 11/15/18 at 11:11 am to

quote:

There is no trade war. We are in a middle of a re-negotiation. War is a strong term


I'm pretty sure this is a full blown trade war.

Trump needs to win this quickly.
Posted by roadGator
Member since Feb 2009
140719 posts
Posted on 11/15/18 at 11:11 am to
Very stable genius. Get it straight.

I admire your preaching to an audience that mocks you. You are the last bastion of hope. How many converts do you claim?

Modern day genius that deserves his own board.
Posted by I B Freeman
Member since Oct 2009
27843 posts
Posted on 11/15/18 at 11:12 am to
Tax it all and end the income tax and I would be happy. I would much rather a VAT or a fair tax on all consumption than an income tax.

Tariffs are corrupting, market distorting and very harmful tools of government bureaucrats.
Posted by Ten Bears
Florida
Member since Oct 2018
3323 posts
Posted on 11/15/18 at 11:14 am to
quote:

can you financially cover these commitments if the package declines in value 5%?"


AIG said hold muh beer...


But then again, what could go wrong if we give banks free money???


And here is the real kicker...we ain't done dealing with this 10 years after the shiite storm that Greenspan gave us...


Many companies, homeowners, and the govt etc have gotten used to cheap money...now there will be a noticeable cost to capital (which, while more fundamentally sound), will cause increased pricing, inflation pressures, and eventually, economic slow down...


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