Q&A: Is this the beginnings of a world wide central bank or worse a private takeover of world credit supplies?

Question by bimma b: Is this the beginnings of a world wide central bank or worse a private takeover of world credit supplies?
http://news.yahoo.com/s/ap/20080915/ap_on_bi_ge/banks_plan

Best answer:

Answer by krollohare2
No. Foreigners have had their fingers in our pie for years. Maybe if we stopped buying from overseas and making our own stuff, they’d have to cash out eventually and use that money to buy what they need from us.

Know better? Leave your own answer in the comments!

Q&A: Which is worse: Rand Paul’s Libertarian Views or Rand Paul’s Historical Ignorance?

Question by dolphin314etc: Which is worse: Rand Paul’s Libertarian Views or Rand Paul’s Historical Ignorance?
Both are pretty bad, I suppose, but which is more harmful, which causes you more dismay?

Libertarian views are what caused Alan Greenspan to consider the securitization of Mortgages into very complex investment vehicles to be useful and valuable innovations in finance. Greenspan was a student of Ayn Rand, the founder of modern American Libertarian economics and philosophy.

Greenspan, like your professor in Econ 101, feels that any interference by government in the free market, always backfires by producing bad unintended consequences. This view was also held by Milton Friedman, Ronald Reagan and G.W. Bush.

So, the SEC officials were watching porn on the internet, and not Wall Street. Regulation is bad, so let’s take out all the control rods and the economy will really get going — that was the view.

We know now that the Libertarian view is bad economics and totally misguided, and just plain wrong.

What happens when you take out all the control rods is not a wonderful new day for the economy. Instead you get the implosion of the economy into a credit crisis that engulfs the whole world.

Even in small towns, people have heard about the Great Recession. What they don’t know is that it is tied very closely to exactly the kind of libertarianism that Rand Paul espouses and wants to bring back.

So his libertarian views are a basis for some dismay.

But so is his historical ignorance. He seems almost more ignorant than Sarah Palin, and she was truly the Queen of Clueless.

To not know about Heart of Atlanta Motel — which was the Supreme Court case that decided the issue of seating people at private lunch counters really reveals deep gaps in this man’s education. He must have gone to High School. Did he take US History? How did he do he that course? Or was he raised maybe in Indonesia?

There are also plenty of cases that finally put to rest the issue of non-discrimination when selling a private house. Yes, you can sell your house. But if you put your house up for sale, no you cannot pick and choose the buyer based purely on their skin color. Rand Paul is still struggling with that. He’s not retarded, but he’s clearly some kind of a throwback. Hey, Rand, join USA, it’s the country you live in! We are not coming to your planet.

He’s also not sure that BP really ought to pay for the oil spill in the Gulf.

Rand Paul is ignorant and wierd. That may not be a problem for a US Senator (see also Senator Inhoff), but surely it would dismay a rational voter if Rand Paul ran for higher office.

The Rand Paul story is a sad one for USA. It bespeaks our inability to learn the big picture factors that cause our national catastrophes, and it betokens the utter failure of our educational system at the High School and College levels.

Sarah Palin says “Now Rand Paul knows what it feels like to be me.”

And for a reason, sweetheart, for a reason.

Best answer:

Answer by Dude
for me, his libertarianism is worse, but I know this was a rhetorical question.

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