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Karl Marx quote!

hypocritexposer

Well-known member
“Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.”

— Karl Marx, 1867, Das Kapital

Wonder if Obama believes this?
 

Sandhusker

Well-known member
hypocritexposer said:
“Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.”

— Karl Marx, 1867, Das Kapital

Wonder if Obama believes this?

You don't join socialist parties if you don't revere Marx. He also said that he gravitated toward Marxists in college. It shows.

Why these elitists that hold themselves out as being so uber intelligent can't figure this out is beyond me. Too busy cheerleading, I guess.
 
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Anonymous

Guest
hypocritexposer said:
Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.”

— Karl Marx, 1867, Das Kapital

Wonder if Obama believes this?

Too bad Bush didn't read it.... :(
 
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Anonymous

Guest
hypocritexposer said:
Is there an opportunity to change the direction that Bush took us towards this quote, OT?

What would that be?

Thats what Bush/Obama and Congress are hoping the Bank Bailout, Jobs/Stimulus package, support America program, etc. etc will do now....
 

hypocritexposer

Well-known member
With more credit? By giving MORE money to the corrupt and criminal banks?

Obama thinks and is acting like further consumer credit will stimulate the economy, does that not just play into what you said Bush did?
 
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Anonymous

Guest
hypocritexposer said:
With more credit? By giving MORE money to the corrupt and criminal banks?

Obama thinks and is acting like further consumer credit will stimulate the economy, does that not just play into what you said Bush did?

Thats just exactly what the majority of economists- the leading Treasury folks around the world- including those of the G7- and the Chairman of the Fed, Ben Bernake (a Repub appointee)-- say is necessary now to keep from the total failure of all the banks, a complete collapse in the economy- and whatever would follow that...Anarchy, communism, ? ? ? - who knows....
 

Mike

Well-known member
Oldtimer said:
hypocritexposer said:
With more credit? By giving MORE money to the corrupt and criminal banks?

Obama thinks and is acting like further consumer credit will stimulate the economy, does that not just play into what you said Bush did?

Thats just exactly what the majority of economists- the leading Treasury folks around the world- including those of the G7- and the Chairman of the Fed, Ben Bernake (a Repub appointee)-- say is necessary now to keep from the total failure of all the banks, a complete collapse in the economy- and whatever would follow that...Anarchy, communism, ? ? ? - who knows....

Just so's you know, the Fed Chairman is chosen from among the 7 Governors of the Federal Reserve Bank System. It's not like a President has a large gathering of willing contestants vieing for that seat.

The Chairman dictates monetary policy in the USA. Completely.

I know, I know. Choosing one of the seven is not much of a choice is it? :roll:
The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.

The Chairman and the Vice Chairman of the Board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chairman or Vice Chairman.
 

hypocritexposer

Well-known member
Yes they are saying what is needed is more of the same, and more of it.

Kinda like telling an addict, that he needs to smoke more Crack, more often, to kick his habit.
 
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Anonymous

Guest
hypocritexposer said:
Yes they are saying what is needed is more of the same, and more of it.

Kinda like telling an addict, that he needs to smoke more Crack, more often, to kick his habit.

I agree with you on the corrupt, unethical and crooked bankers- they should all be jailed- not getting bonus's and golden parachutes...They also need strict regulation and oversight put on them as they've shown they can't be trusted to operate without it..

But Bernanke had a good description of why the Banks can't be allowed to fail....

He characterized the bankers as like being a neighbor- that even tho he knows its wrong- smokes in bed...He sets his house on fire and runs to your house to have you call the Fire Dept...You could just let his house burn down and in that way punish him for his bad habits--but you know you live in a neighborhood of closely built wooden houses- and if his house is left to burn, the whole neighborhood is likely to go...
So you call the Fire Dept to put out the fire--and then go to work on putting in place some laws and regulations with strong penalties for smoking in bed- and setting your house on fire....

Too bad there is no Teddy's around anymore....

I believe in corporations. They are indispensable instruments of our modern civilization; but I believe that they should be so supervised and so regulated that they shall act for the interest of the community as a whole.
~Theodore Roosevelt
 

Mike

Well-known member
So you call the Fire Dept to put out the fire--and then go to work on putting in place some laws and regulations with strong penalties for smoking in bed- and setting your house on fire....

The Fed had enough power over the banks to stop the fire. The Fed is where banks go to borrow money...................

All the Fed had to do was say NO to any banks who looked as though they were getting in trouble...........problem solved.

The Fed is THE regulator of bank financial security and liquidity.

They control all banking monetary policy in the U.S.
 

hypocritexposer

Well-known member
I have a good analogy to letting them fail too.

It's like ranching beside a poor steward of the land, and watching him/her rape the land for all it's worth. Eventually he will not have the nutrients in his land to grow a profitable crop.

At some point his creditors will see through the charade, and either call in his loans or foreclose.

A better steward of the land will buy, or manage this piece of land back to a profitable operation.

It may take years to get it back producing, and profitable, but it is an accomplishment that will be rewarding and possible.

There's over 9000 banks in the US, many with positive balance sheets. Local banks that could take over the good assets, and manage them in a more responsible way.

Unlike buying 36% of Citi, to have the Government run it the same as they run their own business!
 

aplusmnt

Well-known member
Oldtimer said:
hypocritexposer said:
Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to communism.”

— Karl Marx, 1867, Das Kapital

Wonder if Obama believes this?

Too bad Bush didn't read it.... :(

Yes it is! But that is in the past, nothing we can do about it. Hopefully we can do something to stop Obama from making the same mistakes or worse yet doing them ten fold.
 

hypocritexposer

Well-known member
Thats just exactly what the majority of economists- the leading Treasury folks around the world- including those of the G7- and the Chairman of the Fed, Ben Bernake (a Repub appointee)-- say is necessary now to keep from the total failure of all the banks, a complete collapse in the economy- and whatever would follow that...Anarchy, communism, ? ? ? - who knows....

There is no academic hue and cry against the massive deficits of the federal government and the massive bailouts by the federal government. Economists are silent because they have been cheerleaders for the Federal Reserve System from day one. For these people, the Federal Reserve can do no wrong today, because it did wrong from 1929 to 1933, and Milton Friedman exposed this for all to see. What was the great evil of the Federal Reserve during that period, according to Friedman? It did not inflate to offset the contraction of money due to collapsing banks.

http://mises.org/story/3333
 
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