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Originally posted by no1marauderHow would the Republic fail ecnomically if it has no debt? Do you suppose people will just throw up their hands and jump off a bridge?
Your economic ignorance rivals and even exceeds the other right wingers here. Do tell me how private industry could go "belly up" and yet the Republic could remain "economically sound"?
No matter how hard times may get, people will find a way to revive the economy. Somehow the Repubic survived till the beginning of the 20th century before centralized planning was implemented federally. However, now that the other side has power I'm not sure we can say the same. In fact, the scariest even was the Great Depression which occured long after the Fed was established and a governemnt was in place who tried to aritifically prop it up.
Originally posted by whodeyA) You ducked the question.
How would the Republic fail ecnomically if it has no debt? Do you suppose people will just throw up their hands and jump off a bridge?
No matter how hard times may get, people will find a way to revive the economy. Somehow the Repubic survived till the beginning of the 20th century before centralized planning was implemented federally. However, now that ...[text shortened]... ter the Fed was established and a governemnt was in place who tried to aritifically prop it up.
B) Your knowledge of the economic history of the US is beyond terrible if you think that before the 20th Century was a Golden Age as far as the economic well-being of the vast majority of the population in the US.
C) Trying to blame the Great Depression on the Fed is moronic but something right wingers have been doing for about 80 years.
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Originally posted by no1marauderAll I am saying is that the greatest economic calamity occured well after the Fed was well established. Why?
A) You ducked the question.
B) Your knowledge of the economic history of the US is beyond terrible if you think that before the 20th Century was a Golden Age as far as the economic well-being of the vast majority of the population in the US.
C) Trying to blame the Great Depression on the Fed is moronic but something right wingers have been doing for about 80 years.
Originally posted by whodeyWhether the Great Depression was the "greatest economic calamity" in our history is debateable - there were Crashes and Panics in the 1800's that led to long periods of economic stagnation.
All I am saying is that the greatest economic calamity occured well after the Fed was well established. Why?
As to why the Great Depression occurred, it would be a waste of time to discuss it with you - you have zero understanding of economics.
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Originally posted by no1marauderAre long periods of economic stagnation preferrable to the notion that the Republic may become insolvent? I say it is. We will never have a utopia, however, when you insist on creating one you will only help destroy what there is.
Whether the Great Depression was the "greatest economic calamity" in our history is debateable - there were Crashes and Panics in the 1800's that led to long periods of economic stagnation.
As to why the Great Depression occurred, it would be a waste of time to discuss it with you - you have zero understanding of economics.
Originally posted by PalynkaThe Fed is a ponsi scheme. It is a way for the rich to make money on the poor. There is no provision in the Constitution for the Fed. A private company should not have anything to do with US currency.
It's funny how you claim ignorance and accuse the Fed in the same breath. Which one is it?
Kick the private money out of the Fed and make it a branch of the Federal government, then fine. Once you make it an opportunity for the rich to make money, you've created something totally unconstitutional.
Originally posted by EladarThe question of a central Bank being constitutional or not was one of the first ones answered by the Framers after the establishment of the Republic. The majority said it was though certainly some of the critics were very important Framers.
The Fed is a ponsi scheme. It is a way for the rich to make money on the poor. There is no provision in the Constitution for the Fed. A private company should not have anything to do with US currency.
Kick the private money out of the Fed and make it a branch of the Federal government, then fine. Once you make it an opportunity for the rich to make money, you've created something totally unconstitutional.
If the Bank of the United States was constitutional, the Fed certainly is.
Originally posted by EladarIf memory serves, JFK was a crazy right winger like us who suggested that the fed go bye, bye. I guess it just goes to show what happens to people who suggest such things.
The Fed is a ponsi scheme. It is a way for the rich to make money on the poor. There is no provision in the Constitution for the Fed. A private company should not have anything to do with US currency.
Kick the private money out of the Fed and make it a branch of the Federal government, then fine. Once you make it an opportunity for the rich to make money, you've created something totally unconstitutional.
I will endevour to avoid grassy areas and the city of Dallas!! 😵
Originally posted by EladarNice tin-foil hat. 😵
The Fed is a ponsi scheme. It is a way for the rich to make money on the poor. There is no provision in the Constitution for the Fed. A private company should not have anything to do with US currency.
Kick the private money out of the Fed and make it a branch of the Federal government, then fine. Once you make it an opportunity for the rich to make money, you've created something totally unconstitutional.
Originally posted by PalynkaBut you can't have it both ways. Marauder has given the Fed the benefit of the doubt in terms of "stabilizing" the economy so that such growth was possible.
Because the clocks didn't stop after the Fed was established. The 20th century was a period of unparalleled prosperity for the US. Do you disagree?
Originally posted by Sam The ShamYou are looking at this all wrong Sam. When the US goes belly up they can then usher in a New World Order!! 😵
I'm not reading all of the above, but as to the OP's question, if hyper-inflation ever hits the US?
The rest of the world will be screwed.
And you will all say Oh How Awful The USA Sucks and now we are suffering.
Thanks for the help world.
Originally posted by whodeyThe country can't become insolvent as the term is generally understood.
Are long periods of economic stagnation preferrable to the notion that the Republic may become insolvent? I say it is. We will never have a utopia, however, when you insist on creating one you will only help destroy what there is.
"Utopia" is not what 20th Century regulation of the economy was shooting for, just reasonably stable levels of prosperity and growth. That's what New Deal policies and institutions delivered for a half century until right wing Reaganite ideas replaced them.