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Explaining Conservative Economics in 25 Quotes

humbleman Wrote: Aug 07, 2012 3:17 AM
the reason we had an economic breakdown was becuase the banks aided by our goverment loaned a ton of money to people at intrest to buy homes they couldnt afford. obama comes in office and what does he do borrow more to spend more on programs that while might work if theywere private wont work becuase every tax dollar he spends is on loan with intrest. therfor doing the same thing that got us in the mess in the first place. you cant heal a wound with the same weapon you made it with the real answer to this economy while getting rid of loaning with intrest is simple dont spend what you dont have!
latebloomer Wrote: Aug 07, 2012 9:03 AM
Close, but no cigar. The economic breakdown was caused by banks being FORCED to make loans they wouldn't ordinarily have made to those who couldn't afford them. In order to stretch out the fraud as long as possible (so as to avoid the political fallout of the consequences), the regulators had to allow the invention of the derivatives market, else the housing bubble would have collapsed at least 3 years earlier than it did, with much lower cost.
1) "I am for doing good to the poor, but I differ in opinion of the means. I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." -- Benjamin Franklin

2) "The great danger to the consumer is the monopoly — whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who...