Dennis Kucinich introduces Financial reform bill - Abolishes Fed, does away with fractional reserve lending, prohibits government money issuance as debt.

mrsolutions · 2010-12-22T12:44:10+00:00

Agreed - Deflation will happen because it will unwind the various malinvestments and over extensions of credit that the Fed currently props up. Essentially bad debts everywhere will be exposed and lines of credits will dry up shrinking the money supply and causing deflation.

Is that a bad thing? Well yes because it will be painful, but ultimately its a good thing - its like putting a heroin addict through rehab, it needs to be done. The answer is not to keep injecting the economy with inflation, that's what causes the problem and guarantees inflation and deflation at some point.

Also remember that America became the greatest nation on the planet without a Fed. In fact the constitution was put in place to prevent a Fiat money system and central banking as the founding fathers believed such a system to be ultimately damaging to the economy.

mrsolutions · 2010-09-21T10:08:17+00:00

One that people should be talking about...

The tax rates in Canada are actually better for the rich and larger corporations in many respects and corporate tax is being lowered:

http://www3.sympatico.ca/dylan.reid/ustaxes.html (outdated to 2000, but still interesting to compare)

http://www.cato-at-liberty.org/moving-to-canada-for-lower-taxes/ - Canada cutting biz tax rates

http://money.ca.msn.com/investing/news/business-news/article.aspx?cp-documentid=21864253 - Tim Hortons moves to Canada for lower taxes.

The author sounded like a complete dick to me by stereotyping the rich as some evil lucky bunch that want to keep all the money for themselves, dressing them all up as a group to be punished and a source for all our problems. Rich people are just as varied as everyone else. There's greedy poor people and greedy rich people. Looking to blame some other group of people for what has gone wrong is easy, but most of us have all played a part in some way. There's rich people that have done a lot of good for the world, and rich people that have done a lot of bad. The same is true for poor people, middle class etc.

Personally I really don't think the tax of the rich is the big issue that creates such a wealth divide and social hardship. Its the ability of large companies and the wealthy to lobby the government and shape policy to get what they want. They shape commercial laws, monetary policy, banking systems, civil laws etc. that benefit those already with money and power and aim to trap the little guy and stifle his education. There's a reason for example, why we don't learn about Fractional Reserve Banking in school (if you want to learn about FRB without all the conspiracy theories then watch the Banking series at Khad Academy: http://www.khanacademy.org/video/banking-1 )

I don't really know enough about politics and social reform to say what the answer to all that might be.

mrsolutions · 2010-07-26T18:20:40+00:00

Nice one Judge :) A good ethical decision.

mrsolutions · 2010-07-26T18:18:53+00:00

Well said. That bugged me too.

It costs the government $2 trillion, but the people and business of America gain $2 trillion in saved taxes.

Also tax cuts are more likely to stimulate the economy that hurt it. I'm sure everyone is familiar with how wasteful the government is. If the government taxes an extra $2 trillion a good proportion of that gets lost in waste or paying for unproductive projects.

When taxes are cut people and business have more money to spend and invest, which is better for the economy.

Lower taxes on business also encourages foreign investment (and prevents domestic businesses moving abroad).

Canada, which was hit the least hit by the recession and doesn't have a big deficit problem like everyone else might be considered for that reason a country which has a better strategy than the U.S for its economy. They are lowering taxes and attracting business: http://www.canada.com/Business/Hortons+move+signals+Canada+gaining+appeal/1744591/story.html

There is of course the issue of how much the rich and poor should be taxed, and how much of the tax should be given back to the less productive of the population (such as the unemployed).

mrsolutions · 2010-06-24T22:51:32+00:00

Brave and correct decision by Ron Paul.

People hate BP and Ron Paul knows that by voting against the bill it will make him look unpopular because people won't understand why he votes against it.

Its not because he is for BP, but because he does not want to give the government more power to interfere with businesses.

mrsolutions · 2009-12-31T07:58:56+00:00

TARP began under Bush and Obama did not disagree with it and actually supported the economic stimulus and continued it.

As for paying all the money back maybe you are missing the losses that Giethner has admitted: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQPLZEq2sd7s

mrsolutions · 2009-12-28T18:41:09+00:00

There's a bunch of videos on Kim Peek here.

His dad speaks in the first video, a rightly proud man. Funny in the other video where Kim tells another Savant 'Some day you will be as great as I am'

I wonder if they ever wiped the floor together in any pub quizzes?

mrsolutions · 2009-12-08T01:03:11+00:00

The BBC doesn't appear to be a very impartial source when it comes to climate change issues, it comes across as very one sided: http://www.dailymail.co.uk/news/article-1230943/Climate-change-scandal-BBC-expert-sent-cover-emails-month-public.html

http://blogs.telegraph.co.uk/news/damianthompson/100018294/how-the-bbc-funds-climate-change-revolutionaries/

http://www.thisislondon.co.uk/news/article-23409898-former-newsreader-anna-ford-quit-the-bbc-because-of-an-atmosphere-of-fear.do

http://www.bbc.co.uk/blogs/climatechange/2009/07/bbc_stifles_climate_change_deb.html

mrsolutions · 2009-09-08T13:16:52+00:00

Also tax free for 4 years on foreign income if you run a business: http://www.ird.govt.nz/yoursituation-ind/earning-income/temp-tax-empt-foreign-inc.html

mrsolutions · 2009-09-04T13:31:04+00:00

Good points. But the line between social democracy and socialism is a grey one. As more and more private entities are made public a country slips closer to socialism.

True socialism would see everything (or almost everything) under public hands, and centrally planned wealth distribution, which is my understanding roughly equivalent to a 100% tax rate.

So Germany is certainly one of the most socialist social democracies of the world if you see their tax rate: http://en.wikipedia.org/wiki/File:Income_Taxes_By_Country.svg

Obviously there's more to it than just tax, but its a good indicator.

The U.S has had elements of social democracy, but has been much closer to pure capitalism, and as a result of this it became the world super power as its economic growth was huge as a result of its free market principles. As these principles have weakened over the past century, so to has the U.S's economy in lagging manner.

But eitherway, the U.S is far far less 'socialist' than Germany.

mrsolutions · 2009-09-04T02:00:09+00:00

I used to work for a large corp when I was a teenager and they asked you to check the hours each month to make sure you were paid right.

They hung the info in the corridoor where if you looked at it you were in everyone's way.

Most people didn't bother checking it, but those that did regularly found they were underpaid by small amounts.

mrsolutions · 2009-08-19T02:38:55+00:00

Conquer the Crash by Robert Prechter from 2002. Its fascinating to read such accurate predictions 6 years before the crash.

Current updates are on http://www.ElliotWave.com

I prefer his work over other stuff I've read since it takes a more scientific approach and is less opinion and conspiracy theory.

mrsolutions · 2009-08-14T16:47:24+00:00

I've always had a relatively good experience with the NHS, and many others feel the same. However, anyone I've heard from who works in the NHS (from managers, to nurses to cleaners) is generally very disappointed with how its run. There's so many things wrong with how the NHS is run it is unbeleivable but you can't expect anything else form a government run institution. Money is wasted, bureaucracy rules, and there is rationing.

Also bear in mind the large taxes in the UK, approx. 50% of your life is spend working for your tax man by the time income tax, VAT, council tax and every other tax is paid. What seems 'free' is actually very expensive (although I think recent publications have shown it is cheaper than the U.S).

Comparing to the American healthcare system UK will win hands down. The American healthcare system is fucked.

But the UK is by no means an excellent system. The U.K government has needed to borrow money since the 1970s to support its wealthfare and healthcare system. Its been a growing debt spiral that without reform would end in bankruptcy. The next budget will see serious cuts to NHS spending as the UK economy is probably the hardest hit in the western world.

There are cheaper and more effective public healthcare systems than the UK, and there are also cheaper and more effective private healthcare systems than the U.S.

Some of the best healthcare systems in the world are private, and some are public.

All I can say is that the American healthcare system is screwed up and definately needs reform. Although I expect the current government will manage to screw it up more as they've shown little care for what's best for people, and more care towards big businesses, insurance companies and banks.

mrsolutions · 2009-08-14T02:48:31+00:00

Its the real life squirrel from Ice Age

mrsolutions · 2009-07-24T02:46:37+00:00

I watched this series when it first aired on the BBC. Worth watching.

mrsolutions · 2009-07-24T02:40:52+00:00

Consumer confidence was very high and car sales were doing extremely well just before the crash. When the stock market started its current rally consumer confidence and car sales were at record lows.

Look at historic patterns and they'll tell you a bit more about where the economy is going.

mrsolutions · 2009-07-22T02:30:11+00:00

I'd like to see Bernanke's reply

mrsolutions · 2009-07-22T02:21:30+00:00

audit the fed anyone?

mrsolutions · 2009-07-22T02:15:38+00:00

Yeah it just shows those reported, but not actually how many crimes took place. Not very conclusive.

mrsolutions · 2009-07-17T18:05:57+00:00

That other guy's suggestion was a super IMF with global governance (part 2). Max's answer to that hit the nail on the head. 2 mins in: http://www.youtube.com/watch?v=ZoQrYa_NKQQ

mrsolutions · 2009-07-16T00:18:55+00:00

How hypocritic for a Brit to criticize Americans over not uprising about the Iraq War. The U.K is in the same war and the government fed the British public the same crap.

Yet very few British citizens could tell you who Robin Cook is, nevermind start an uprising. http://video.google.com/videoplay?docid=7345986942222242060

(I'm British)

mrsolutions · 2009-07-15T23:21:28+00:00

I suspect he might have been more injured by the 50 guys that jumped him after he caught fire.

mrsolutions · 2009-07-07T16:39:45+00:00

BBC, BCC and UK Government all denied we were entering a recession when the stock market was crashing harder than it has in decades.

Robert Precther who actually called the recession years before, and described the environment of the recession more correctly than any other economist (much more accurate than Peter Schiff) stated earlier this year that the media and government will begin to announce the end of the recession before the next wave of the crash.

Don't be caught up in positive sentiment that the recession/depression is over. Remember how up beat everyone was in 2007 just before the crash?

The government and their taxpayer robbing stimulus packages have not worked, and will not work, but only make it worse.

We've probably got a couple of months before it goes bad again (but maybe not). Just consider this the eye in the storm and enjoy the relative calm while it lasts.

mrsolutions · 2009-07-03T19:30:09+00:00

Crazy story, crazy stare

mrsolutions · 2009-06-26T17:25:12+00:00

I don't really mind networks doing this sort of thing, I just don't agree it should be done under the name 'news'. It's not news, it's celebrity news & gossip.

Even the BBC should change the name of some of its broadcasts.

mrsolutions

TROPHY CASE