Quote:
Originally Posted by trademaster
You do understand that one of the fundamental responsibilities of the Federal Reserve is to act as a lender of last resort under conditions in which demand for liquidity cannot be met by private industry, right? The Fed intervened to prevent a liquidity crunch that could have led to total collapse and saving the auto industry was critical.
Though I feel you put too much emphasis on unions and too little on brand architecture, I don't disagree with much of what you say here. What's your point? You were wrong about management remaining entirely the same, it didn't. Industry-related legislation has changed and continues to in an effort to bolster the industry against recession. What does any of your post suggest in regard to the need or lack of need for the bail out?
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what the Federal Reserve does is keep interest rates artificially low.. don't give them credit for preventing a collapse, the collapse hasn't happened yet.. the Fed is only prolonging it with added damage.. the Federal Reserve is like a drug dealer, and the American people, businesses, and government are like the drug addicts.. the more cheap credit the Fed provides, the more inflation we have and the bigger the market bubbles get (housing in 2008 is a perfect example).. nobody wants the cure because that means we have to go through detox.. but eventually, the debt based consumption of an economy will come to an end.. not to turn the thread political, but Woodrow Wilson is the worst president we had... The Federal Reserve Act and 16th amendment are destroying this country.. if you want to know more about how bad the Fed is youtube Peter Schiff..
if unions are not the problem, then why do they always strike when they don't get what they want? you can look at the auto, teacher, postal, rail way, etc unions.. they all promote their agenda over what the market calls for against the private industry... it's why in the postal service, they can pay someone $90,000 a year to put paper into metal containers..