Ayn Rand's Atlas Shrugged Edward Younkins Speech

[david22202]

Interesting that the last comment was 3 weeks ago and the comment before that was 1 year ago.

It is a shame that more people are not interested in this kind of information.

Rate up if more people should learn this information.

[KeithMcElwain]

There is a reason that Atlas Shrugged is still #2 best seller of all time!!

[amungur]

How did that unregulated financial industry work for you?

[tabamoura]

Which one? The one that had the sub prime mortgages promoted and guaranteed by the government of the USA? That financial industry along with 2 major car companies are now in big part owned and controlled by the government. Coincidence?

[amungur]

Lets see... The banks that threaten to bring down the entire world economy because of the selfish interests of their CEOs... and needed the big bad government to come get them out of their own filth... This would have never happened if the glass-steagall act was still around...

[tabamoura]

ok. good discussion

All started with Fannie Mae and Freddie Mac, which are GSE's ( Government Sponsored Enterprises), aiming for the sub prime market. The goverment backed loans created unfair competition and the private banks had dance to the music. You see the government interfered with the market, encouraged greed and created weak securities. Why?

Think about it. Research GSE's and post back.

[amungur]

Fannie Mae and Freddie Mac didn't threaten to bring back the world economy... It was banks that were way to leveraged. In no world a company leveraged 50:1 is safe. If banks stay unregulated they will stay leveraged like this until theres another bump in the market again. Look at the countries that did fine in this crisis.  Their banks were all perfectly regulated by their government.

[doughtymqan]

@amungur USA has NEVER had an unregulated financial industry. We should try it & get rich.

[amungur]

@doughtymqan When they repealed the glass steagal act back in 1999, thats the closest you will ever be to an unregulated financial industry. That's what caused all the banks to be able to gamble like they did and cause the financial collapse. The only people that got rich are the one that saw the economy crumbling.

[mustang607]

Today US paper money is nothing but an ever increasing government debt. You want as little of it as possible since is loses value, and it loses it more and more quickly these days.

[ananiasacts]

The taxing authority of the government is a better standard of value than gold for obvious reasons.

[RippingFang]

Obvious? No. The standard of value should be something real. Tax authority is force used against wealth, so cannot be a standard of anything.

[ananiasacts]

WIthout the government someone bigger than you will take away your gold.

[chopin8826]

you have it backwards, without government someone bigger than you will give you a chance at gold...

[ananiasacts]

You're right. I get letters from Nigeria every day with generous offers. Perhaps that's what you're referring to.

[chopin8826]

nigeria? are you comparing the most productive country in the world (USA) to a crumbling government in a primitive society?

[AynRandMotor]

You Prime Movers now have your Prime MotOR compatible with your\Her mORal Code.

Romantic Realism becomes Romantic Realization

- What makes me so sure? "I'm the one who made it in the first place." -

It's a Whole New Ball Game! and The New Intellectuals ARe the Owners.