Will Republicans Defund Finance Reform?

Gerald Epstein: GOP plans to water down an already watered down bill

Category:

News & Politics

Tags:

• gop
• finance reform
• federal reserve
• obama

[BoredomCorner]

@BeantownJim Protecting you from bankruptcy is a communist mandate?

You Tea Party twirps don't even know what communism is, it's embarrassing.

[ourben]

@sirellyn We can make socialism work and we have. It worked across Europe brilliantly before right wing governments took power and started dismantling it. You don't need to know everything about a person, you just need to be able to give them a leg up while they're down. Your analogy is patently absurd. It's like arguing against antibiotics because doctors can't synthesise staff.

Still, I'd love to hear what you propose as the alternative?

[ourben]

@sirellyn Woah woah woah!

I said Europe was (past tense) an example of socialism working. You set up an irrelevant strawman about debt. I didn't say anything about debt mattering or being fine? Where did I say that? Quote plox.

It seems you are still arguing with a position I didn't defend.

[sirellyn]

@ourben Refresher. You said Europe was an example of using socialism brilliantly. I said paying for things via debt is not a good example. It's unsustainable. You said debt doesn't matter, it's fine. All this time you've been arguing that all these other factors are the problem.

I've been trying to explain that being able to go into debt, and considering it "ok" is the largest problem.

Without that ability, none of this could have happened.

[ourben]

@sirellyn Jesus Christ! What are you actually trying to argue? That debt is good? That debt is bad? That debt is capitalism? Capitalism created the debt market. Capitalism exploits the laymen.

And no. Only a slither of credit it is backed by resources. The rest is bytes in a machine. The raison d'etre of the system is to tie as many people to perpetual debt as possible, thereby making them serfs.

Corporate fat cats own the debt. Corporate fat cats own the people.

[sirellyn]

@ourben You aren't really thinking about this are you? If you could not borrow money what would happen with a trade imbalance?

Answer: Nothing

You couldn't spend any more money than you earned, so you'd have to produce more or cut back. Either way you are at equilibrium. In this case most people usually SAVE money instead.

And yes some people do have credit. Credit exists without having dollar bills, you have assets commodities, resources. Who owns all of that?

[ourben]

@sirellyn You're amazing! Debt is a CONSEQUENCE of importing more than you export. It's not the CAUSE.

Everyone is in debt because everyone buys things they don't need from industry that makes things nobody needs to make. Nobody has credit because the money backing it doesn't actually exist. It's another of capitalism's lies that makes wage slaves of us.

[sirellyn]

@ourben Without going into debt, how CAN you import more than you export.

And again, when there is that much debt, it's an industry. How many people you know are in debt? To get into debt you have to borrow from people who have credit. So if everyone is in debt (including countries) who do you think has all the credit?

[ourben]

@sirellyn Some stuff is cheaper and we have to buy more.

watch?v=akVL7QY0S8A

And watch Requiem For Detroit.

[ourben]

@sirellyn No it isn't. It's there because we import more than we export. Our biggest industry is finance. Irony huh?