Author Topic: We Bailed Out Bankers and They Are Still Pissing On Us
Modeeb 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Goldman Insider Crystallizes a Lesson About Bankers Article from CFO

"Now quite famously, formerly of Goldman Sachs, Greg Smith kicked up a firestorm with his op-ed piece in The New York Times on Wednesday. He lambasted his former employer (he’d quit just minutes earlier), decrying a culture “where not a single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them.”

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Wait until we bail out the OWS college students and their loans .... fun time are ahead with those individuals once we allow them , like the banks, to get away with not paying what they owe.

 

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-Espiritu- 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
uh oh, that former Goldman Sachs exec probably just screwed himself out of a position in the Obama administration. The first rule of Banker Club is you don't talk about Banker Club.

Sincerely,
Turbo Tax Timmy

 

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Desnoxvu 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
This is one of those threads where I just want to say "Support Ron Paul or STFU!"

 

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Modeeb 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
I would have rather given the money for student loans. We threw it into a rat hole- Bush's final brainfutz.


Ron Paul has been a congressional insider his whole life. You just bought into a cult leader

 

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Sin_of_Onin 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
The invisible hand at work.

Hey lets give more power to it!

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Modeeb posted:
I would have rather given the money for student loans. We threw it into a rat hole- Bush's final brainfutz


That is why statists of either stripe are evil ... both employ the same tools .. just for different special interests.

 

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Lyken-P 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Modeeb posted:
Ron Paul has been a congressional insider his whole life. You just bought into a cult leader
It's funny you can say that with a straight face, after the numerous number of times you came rushing to the Outpost to create a new thread about how great Obama's speech was.

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Sin_of_Onin posted:
The invisible hand at work.

Hey lets give more power to it!


The hand of government is never invisible

 

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Sin_of_Onin 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
So the government told these people to treat their clients like crap?

No wonder you fear the government so much, you are paranoid and delusional.

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Sin_of_Onin posted:
So the government told these people to treat their clients like crap?


The government created the bubble and the bailout so that the banks could treat their clients like crap ... if the government is going to bail you out then why bother dealing with customers civilly who are not bailing you out???

 

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Sin_of_Onin 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Like I said, paranoid and delusional.

The bailout has zero to do with this issue but good try.

 

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Eradiani 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
with the amount of money we gave the banks and didn't get back we could have almost completely paid off most of the housing loans. (or at the very least a huge chunk of them). I rather have seen that since at least then more than a handful of people would have seen a benefit from it (and profit would still trickle up to the greedy bankers)

 

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Desnoxvu 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
This crony capatilistic facist monetary system has been the flavor of the day for the last 40+ years.

There has been 1 officeholder that has been standing up to it. Just 1 man. To call this 1 person who has been the enemy of every person in power and every banker and federal reserve crony an insider just makes you look like a complete and utter fool.

 

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Yukishiro1 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
That's what investment banks do. They make money by cheating their customers. Getting angry at an investment bank for cheating its customers is kinda like getting mad at a cat for attacking a bird.

 

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Desnoxvu 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
They also do it by getting free money from the Federal Reserve discount window. It is a wonder that people haven't wondered why these credit card companies, mortage companies and student loan institutions have all the money and we need to become their slaves in order to surpass a distorted and inflated economy.

 

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Ashmaele 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Clearly the best way to fix a consumer economy is to SAVE SAVE SAVE!

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Sin_of_Onin posted:
Like I said


you haven;t said anything ... that's the problem

 

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Desnoxvu 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Free markets are the best way to deliver goods and services to people at the lowest prices.

Thank god for Ludwig Von Mises, Frederic Bastiat and Thomas Jefferson.

If you really want to get information on economics you can get free higher education through Ludwig Von Mises Institute. Much better than Harvard who Time's said is the best college (of course they don't mention the 200k debt you will have for attending).

 

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Brother_Tempus 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Ashmaele posted:
Clearly the best way to fix a consumer economy is to SAVE SAVE SAVE!


applause

FInally someone gets it ... but that is 1/2 the solution ... the other 1/2 is to produce goods ( not services)

 

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Ashmaele 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Brother_Tempus posted:
Ashmaele posted:
Clearly the best way to fix a consumer economy is to SAVE SAVE SAVE!


applause

FInally someone gets it ... but that is 1/2 the solution ... the other 1/2 is to produce goods ( not services)



It's really a four-step process:


Step #1: Ramp up production of consumer goods.

Step #2: Have those goods sit on store shelves, unpurchased and unused (because, you know, we're not spending we're saving

Step #3: ?????

Step #4: Profit money_eyes

 

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Sin_of_Onin 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Brother_Tempus posted:
Sin_of_Onin posted:
Like I said


you haven;t said anything ... that's the problem


I stated facts which you deleted.

 

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Desnoxvu 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Brother_Tempus posted:
Sin_of_Onin posted:
Like I said


you haven;t said anything ... that's the problem


Sin doesn't know anything. A bailout of over 17 trillion dollars over the last 4 years and he says this doesn't mean anything.... I doubt he has ever done any research on Keynesianism which is the theory that they are using for our economic system. I doubt he has ever read anything by Ludwig Von Mises or Murray Rothbard.

People like him claim superiority by being brash and distorting reality by absolutely false statements. It isn't like this is a new game by the statis quo facists that have given us so much poverty throughout the centuries.

 

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Ashmaele 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Desnoxvu posted:
People like him claim superiority by being brash and distorting reality by absolutely false statements.


 

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The way Paulbots talk about von Mises and co remind me of the way devout Catholics talk about their various saints they pray to.

 

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reesescups 
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I bet if we double down on the Busama Tax Cuts they'd stop pissing on us!

 

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Sin_of_Onin 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
So Des you are asserting, like BT, that the reason that Goldman Sachs is able to sell clients investments based on the interest of the company and not the client is because they were bailed out? Please explain to everyone why the bailout happened and how it relates to this issue specifically.

Mises never gets past basic economics. It is like all of those people who take econ 101 and think the world would be made up of simplistic and perfect markets if the government just didn't exist. Clueless morons who fail at math and at understanding reality. It makes it really hard to study econ when you don't use math or reality in your study.

Also obligatory reminder of the free market at work...

 

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reesescups posted:
I bet if we double down on the Busama Tax Cuts they'd stop pissing on us!


All you have to do is stop giving them money .... and let them go bankrupt

 

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theredkay1 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Desnoxvu posted:
They also do it by getting free money from the Federal Reserve discount window. It is a wonder that people haven't wondered why these credit card companies, mortage companies and student loan institutions have all the money and we need to become their slaves in order to surpass a distorted and inflated economy.


Discount window is almost entirely overnight loans. Hard to do very much with a loan that is due tomorrow.

Primarily its a price signal that banks use to lend each other money. Without a discount window banks would still lend each other money and they would still have lots of money.

The discount window does reduce the bank failures that would arise from very short term liquidity crunches. Waves of bank failures would probably not be the economic elixer you think.

 

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Ashmaele 
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Yukishiro1 posted:
The way Paulbots talk about von Mises and co remind me of the way devout Catholics talk about their various saints they pray to.



The Ludwig von Mises Institute
518 West Magnolia Avenue
Auburn, Alabama 36832-4501


Pretty much all you need to know.


 

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Sansfear 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
That 17T figure is ridiculous misleading and false. Most of it is through short-term (i.e. one day loans) that were immediately repaid.

If you loan someone a billion dollars and they repay it the same day and you do it every day for 4 years, you've 'loaned' them $1.46T even though they never borrowed more than a billion at a time.

Also, the majority of the money that WAS loaned to the banks during the bailout (TARP) has been repaid. AIG, I think is the main one that has not, but the bailout money was repaid with interest by most banks as soon as they realized that the Feds were going to use the loans to dictate their business practices.

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Participants

 

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Ashmaele 
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Sin_of_Onin posted:
Clueless morons who fail at math
laugh Austrian School principles employ no math at all, not a single principle that they espouse that I'm aware of can be proven mathematically.

 

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reesescups 
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I wish I could get an interest free one day loan...

 

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theredkay1 posted:
Desnoxvu posted:
They also do it by getting free money from the Federal Reserve discount window. It is a wonder that people haven't wondered why these credit card companies, mortage companies and student loan institutions have all the money and we need to become their slaves in order to surpass a distorted and inflated economy.


Discount window is almost entirely overnight loans. Hard to do very much with a loan that is due tomorrow.


The Fed was allowing the banks to borrow @ 0% and then park the money @ the Fed for a 3% return ... that is free money

 

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They also let the banks act as a go-between for the loans the government pays to itself.

 

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theredkay1 
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reesescups posted:
I wish I could get an interest free one day loan...


Just about every credit card company will give you one. shhh

 

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DemonicXH 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
I just watch Too Big To Fail and I know it was based on a book but I wonder how accurate the author was.

 

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Ashmaele 
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DemonicXH posted:
I just watch Too Big To Fail and I know it was based on a book but I wonder how accurate the author was.
It was a great flick but you have to be careful about documentaries...nearly all of them are pushing some sort of biased agenda.

ETA: If you liked that I also highly recommend Enron: The Smartest Guys in the Room

 

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Brother_Tempus posted:
theredkay1 posted:
Discount window is almost entirely overnight loans. Hard to do very much with a loan that is due tomorrow.


The Fed was allowing the banks to borrow @ 0% and then park the money @ the Fed for a 3% return ... that is free money


Explain the 3% return.

Exactly what where the banks doing? Be specific.

 

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reesescups 
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theredkay1 posted:
reesescups posted:
I wish I could get an interest free one day loan...


Just about every credit card company will give you one. shhh
For a billion USD?


Really, where do I sign up?

 

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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Ashmaele posted:
DemonicXH posted:
I just watch Too Big To Fail and I know it was based on a book but I wonder how accurate the author was.
It was a great flick but you have to be careful about documentaries...nearly all of them are pushing some sort of biased agenda.

ETA: If you liked that I also highly recommend Enron: The Smartest Guys in the Room



Yeah I figured there was some bias going on somewhere, but for what it is, it was a good movie. I really want to believe that how Paulson and Geithner were in the movie was factual.


I look out for it, thanks for the tip.

 

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Sansfear 
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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
theredkay1 posted:
reesescups posted:
I wish I could get an interest free one day loan...


Just about every credit card company will give you one. shhh


Credit card companies give interest free loans but charge a one-time 3-4% transaction charge.

 

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In the World of Finance - 'Business is Business and Love is BS'.


peace



 

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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Sansfear posted:


Also, the majority of the money that WAS loaned to the banks during the bailout (TARP) has been repaid. AIG, I think is the main one that has not..






For that bit of financial wizardry, credit outspoken CEO Robert Benmosche, who's defying all odds turning around the beleaguered insurance giant. The company has repaid billions to the government -- including its entire obligation to the Fed -- and regained access to credit and debt markets. A recent move: unloading two insurance units for $37 billion

 

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Sin_of_Onin posted:
Also obligatory reminder of the free market at work...





Ironically each of those kids have worked harder and done more to support the economy than all the Outpost-paulbots together.

 

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Subject: We Bailed Out Bankers and They Are Still Pissing On Us
Sansfear posted:
theredkay1 posted:
reesescups posted:
I wish I could get an interest free one day loan...


Just about every credit card company will give you one. shhh


Credit card companies give interest free loans but charge a one-time 3-4% transaction charge.




Every time you use a credit card its an interest free loan to provide you liquidity. There is no additional cost to using a card.

These are even more friendly than the Fed loans since you dont have to provide collateral to use a credit card.

There are some real good potential criticisms of the Fed.

 

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No credit card company is going to offer any of us a one billion dollar interest free overnight loan.

 

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The reason the rich got so rich is because of the federal reserve system. Unless you fix the root problem it doesn't matter how much you tax them, we will continue on the inevitable consequence of a failed monetary and moral economic system.

 

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Desnoxvu posted:
The reason the rich got so rich is because of the federal reserve system. Unless you fix the root problem it doesn't matter how much you tax them, we will continue on the inevitable consequence of a failed monetary and moral economic system.


Yes because the Fed invented rich people.

rolling_eyes

 

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Sin_of_Onin posted:
Desnoxvu posted:
The reason the rich got so rich is because of the federal reserve system. Unless you fix the root problem it doesn't matter how much you tax them, we will continue on the inevitable consequence of a failed monetary and moral economic system.


Yes because the Fed invented rich people.

rolling_eyes
obviously not


But Rich people did invent the Fed so that they could continue to be rich and not have to work... This is part of the core idea that this country was founded to fight against and prevent, not support and foster.

 

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laugh

 

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Sin_of_Onin posted:
herpa derpa

 

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Just so you know the Federal Reserve was in large part formed to reduce the impact of the economic cycle on the economy. In real terms the economic cycle mostly hurts the poor. Your entire premise relies on the theory that the poor and working class would be worse off without monetary intervention. Good luck with that.

grin

 

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Sin_of_Onin posted:
A bunch of stuff that has absolutely nothing to do with anything even remotely close to what I said.



Anyway - can you tell us the story about about how accumulating debt is the best way to become wealthy?

 

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Never go full retard reese.

 

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Sin_of_Onin posted:
Never go full retard reese.
Man

No worries bro, I would never try steal ur gig

 

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Man you gave up on your argument fast.

hypnotized

 

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Sin_of_Onin posted:
Man you gave up on your argument fast.

hypnotized
What argument?

The imaginary one you were having with me?

By all means - continue it if ya want... You have never had a problem making up shit before...

 

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So now your approach is denying ever making an argument.

Like I said, never go full retard reese. It is hard to watch.

 

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BREAKING NEWS! sIN HAD AN ARGUMENT!!!

I haven't been able to find it yet but I bet it is a really good argument for the coincidental perpetual economic decline!

 

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Desnoxvu posted:
BREAKING NEWS! sIN HAD AN ARGUMENT!!!

I haven't been able to find it yet but I bet it is a really good argument for the coincidental perpetual economic decline!


There has been massive economic growth globally. You are an idiot.

 

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Sin_of_Onin posted:
So now your approach is denying ever making an argument.

Like I said, never go full retard reese. It is hard to watch.
Well apparently we are in the midst of argueing about an argument you thought you were having with me...

Please - by all means continue the argument. If you need me to say something in particular to get the voices in your head going again, just let me know

 

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rolling_eyes

reesescups posted:
But Rich people did invent the Fed so that they could continue to be rich and not have to work... This is part of the core idea that this country was founded to fight against and prevent, not support and foster.


4.a statement, reason, or fact for or against a point: This is a strong argument in favor of her theory.

http://dictionary.reference.com/browse/argument

Your stupidity is hard to watch. I feel bad for you.

 

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Dont have a problem with them bailing me out of my student loans lol. Just make goldman sachs pay it. Sure its only a few pennies to him.

 

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Sin_of_Onin posted:
rolling_eyes

reesescups posted:
But Rich people did invent the Fed so that they could continue to be rich and not have to work... This is part of the core idea that this country was founded to fight against and prevent, not support and foster.


4.a statement, reason, or fact for or against a point: This is a strong argument in favor of her theory.

http://dictionary.reference.com/browse/argument

Your stupidity is hard to watch. I feel bad for you.
I posted a statement. Doesn't mean we are having a conversation or an argument...

Talk about going full retard...


Tell us the story again about how burying yourself in accumulative debt is the best way to get wealthy!

Come on dance monkey, don't side step the 'arguement'

laugh

 

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hypnotized

I am willing to concede your post was pointless and lacked sufficient reason and facts to be considered an argument.

 

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Page one was more fun. Now it's just "no u!".

 

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NuEM posted:
Page one was more fun. Now it's just "no u!".


That tends to happen when I call reese out on something stupid he says.

 

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Sin_of_Onin posted:
hypnotized

I am willing to concede your post was pointless and lacked sufficient reason and facts to be considered an argument.
So awesome

Thanks bro - now I can go buy that new bike!


rolling_eyes


 

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Sin_of_Onin posted:
That tends to happen when I get melty over reese being in the same thread as me
FTFY

 

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laugh

 

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reesescups posted:
No credit card company is going to offer any of us a one billion dollar interest free overnight loan.


Banks have more assets than you do. whysodumbz?

 

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Sin_of_Onin posted:
Just so you know the Federal Reserve was in large part formed to reduce the impact of the economic cycle on the economy. In real terms the economic cycle mostly hurts the poor. Your entire premise relies on the theory that the poor and working class would be worse off without monetary intervention. Good luck with that.

grin



Lol, do you even know who created the federal reserve? You shoud do yourself a favor and shut up now before making yourself look more foolish.

 

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Who created the Fed?

Why do you think that supports your argument?

 

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Desnoxvu posted:
Sin_of_Onin posted:
Just so you know the Federal Reserve was in large part formed to reduce the impact of the economic cycle on the economy. In real terms the economic cycle mostly hurts the poor. Your entire premise relies on the theory that the poor and working class would be worse off without monetary intervention. Good luck with that.

grin



Lol, do you even know who created the federal reserve? You shoud do yourself a favor and shut up now before making yourself look more foolish.


Dude GTS if you want to know. It doesn't help your wackadoodle beliefs.

I would also like to say I was really talking about the formation of the powers of the Federal Reserve that are being talked about.

 

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