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What part of free market capitalism would impose a Federal Reserve banking cartel by federal law that could loan into such a bubble?
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What part of free market capitalism would take the US dollar of gold via presidential edict allowing for the unlimited expansion of money and credit into markets in 1971? ( https://wtfhappenedin1971.com )
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What part of free market capitalism would have this state imposed central bank lend a trillion dollars into subprime via government created corporations Freddie Mac and Fannie Mae? And have them lend that to minority families, even if the banks deemed it not prudent?
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What part of free market capitalism would have this state imposed central bank loan money into a housing bubble at 1.5% APR? Do you know any capitalists who are satisfied by a 1.5% APR return on investment?
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What part of free market capitalism would have this state imposed central bank cover counter party risk on CDO's, also causing CDO insurance to become mis-priced, until it didn't?
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What part of free market capitalism would run to the banks rescue with a 1 trillion dollar bailout, to cover them till the fed could lower interest rates back down to zero?
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What part of free market capitalism would reflate the housing bubble with 0% apr interest rates? Which seems to now be causing a bubble in every sector of the US economy.
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Bernie was right on one thing. We have socialism for the rich, neo-liberal capitalism for everyone else. Ideally, large corporations and their shareholders would have to play by rules as well, which meant that if they fail, Lloyd blankfein and his banker pals end up on the street as anyone else would and their “businesses” are forced to close. But with the big banks controlling the Fed, they bail out whomever they want, including themselves.
If only they had socialism for the rich, but didn't put in a bunch of taxes and regulations designed to fuck over everybody else, (and now closures) it might just be bearable.
One thing is for sure. We need to get off the government money, and tax system at all costs. If we don't find a way to get off this merry-go-round, we're doomed.