'FDR Goes to War' (Burton W. Folsom, Jr.)

[juan563]

Rights just don't originate in government - privilege originates in government. Hence the source of fraud and corruption.

[sexyloser1128]

I'm just not sold about what the video said about tax cuts stimulating high economic growth. I feel the failure of the Bush tax cuts discredited that notion.

[emp0rizzle]

@sexyloser1128 The failure wasn't the tax cut, it was the trillions in borrowed money that completely negate any benefit of the tax cut.

[UTubekookdetector]

Not surprising, the NEA was pushing FDR to nationalize all kinds of industries to guarantee a certain standard-of-living during the Great Depression. Some things never change, the NEA is still pushing statism.

[aallppiinnee]

Before the outbreak of war, FDR admired the power and accomplishments of the European fascists.

[666sigma]

Real capitalism works. Wall Street gambling is not capitalism. Capitalism requires savings. Wall Street borrows and makes leveraged bets and calls them "hedge funds".

SOX and Dodd-Frank should be repealed and replaced by very simple legislation. You need skin in the game. You need 20% CASH down for a mortgage and any other financial transaction. No more 30:1, 40:1 or 50:1 leverage. Mirror accounting treatment. Capital requirements.

Crooks go to (butt fuck) jail.

[TheKuffarKid]

@666sigma Why shouldn't the underwriter of the mortgage be the one to decide how much is required to be put down?

[666sigma]

@TheKuffarKid

Why shouldn't we allow people to drive drunk? Why can't we just let everyone determine how much they can drink and how much risk they want to take when they get in a car?

[TheKuffarKid]

@666sigma Well yeah man we'll just not make murder illegal either man it's exactly the same thing man!

[666sigma]

@TheKuffarKid

Why don't we allow the banks just to steal the money directly from the taxpayers when they make a bad loan? It's exact the same thing, man!!!

Now, instead of learning your lesson, you will claim that my example is a much more serious of a crime. But the fact is that 99.999% of all drunks don't kill or even hurt anyone. Yet, the banks hurt every citizen in the US and millions (if not billions) abroad. They gambled, lost and got the govt to steal money for them.

[TheLegalImmigrant05]

@666sigma "You need skin in the game. You need 20% CASH down for a mortgage and any other financial transaction." Shouldn't this be up to the bank - who has skin in the game by virtue of the fact that the mortgage industry is purely private (at least it should be)? Why would you need a LAW backed up by GUNS for that? Let the lenders decide for themselves, but do not guarantee them any taxpayer-funded backstops.

[666sigma]

@TheLegalImmigrant05

Now, how did that turn out for you?

[tugger]

You should have edited out the sound frequencies that include his snot noise. Gross, Cato.

Gross. 

[Riclists]

Outstanding lecture, very good perspectives.

[jakeyw11]

Just wonderful and engaging style! Cato always has content offering extremely good ideas and thoughtful research but this feels more like a story and less like a lecture.

[httm241]

@jakeyw11 fdr best president ever

[TheKuffarKid]

@httm241 By any measure we use today FDR was an absolute failure.