Clear Channel’s Directors Give Big to Romney

samhill · By: **samhill** On: Thu Jul 19, 2012 9:36 pm

Franco, thats the first time I have ever heard that a depression is good because it wipes the slate clean. Lets see excessive debt, just who wipes that out without a banking industry & no Gov. involvement? The only thing that happens is that the ultra rich become the only ones with anything & the divide between wealth in the nation & poverty becomes greater. Most likely lose some at the top by a few notches but greatly increase extreme poverty. This time there would have been no banks to take the farms, no one to finance a restart of any business, if the Gov. would step in it has nothing but debt & no one to borrow from & nothing coming in, OK yep your right it's what the cons have been striving for.

jpete · By: **jpete** On: Thu Jul 19, 2012 10:21 pm

So you figure the super wealthy will just buy up everything and then what?

Maybe Warren Buffet would like to have 100 million houses perchance?

homecomfort · By: **homecomfort** On: Thu Jul 19, 2012 11:07 pm

jpete wrote:So you figure the super wealthy will just buy up everything and then what?

Maybe Warren Buffet would like to have 100 million houses perchance?

Buy up the White House, pretty close to the "everything"

jpete · By: **jpete** On: Thu Jul 19, 2012 11:23 pm

homecomfort wrote:
jpete wrote:So you figure the super wealthy will just buy up everything and then what?

Maybe Warren Buffet would like to have 100 million houses perchance?

Buy up the White House, pretty close to the "everything"

Including the current resident?

samhill · By: **samhill** On: Fri Jul 20, 2012 8:30 am

Jpete, your the type that everything has to be made idiot proof for, you will take something & pick out an obscure off the wall possibility & run with it. To get past that I would have to name every wealthy person & list what I thought they would do, buy or pretty much just take. Just like the banks foreclosed on all the farms during the depression, they weren't intending to turn into farmers, property is something that can't be made very realistically or economically so that's what they buy property, what's on it doesn't really matter much. & before you say it I know a hotel is worth more than a house & the properties at the end are worth more than the ones in the beginning.

jpete · By: **jpete** On: Fri Jul 20, 2012 8:48 am

samhill wrote:Jpete, your the type that everything has to be made idiot proof for, you will take something & pick out an obscure off the wall possibility & run with it. To get past that I would have to name every wealthy person & list what I thought they would do, buy or pretty much just take. Just like the banks foreclosed on all the farms during the depression, they weren't intending to turn into farmers, property is something that can't be made very realistically or economically so that's what they buy property, what's on it doesn't really matter much. & before you say it I know a hotel is worth more than a house & the properties at the end are worth more than the ones in the beginning.

So the banks foreclosed on all the farms?

Then what happened?

The banks had to sell them at prices people could pay right?

THAT'S how all the bad debt gets wiped out. Like, water, all the prices find their natural level.

So now you know how depressions wipe out bad debt.

samhill · By: **samhill** On: Fri Jul 20, 2012 8:52 am

No bailouts = no banks.

jpete · By: **jpete** On: Fri Jul 20, 2012 9:27 am

samhill wrote:No bailouts = no banks.

My bank didn't get a bailout an they are still around.

What you mean is, no bailouts, no Goldman Sachs and JPMorgan to buy Congress.

I'd have thought you'd be OK with that.

Rest assured Sam, if all the big dogs fell, the smaller banks would be there to pick up the pieces.

The market fills a need where there is one. I realize you don't want to believe that, but it's unavoidable.

samhill · By: **samhill** On: Fri Jul 20, 2012 10:18 am

Who do the small banks get their money from?

jpete · By: **jpete** On: Fri Jul 20, 2012 10:33 am

Depositors?

I don't know Sam. Clearly you know something I don't. Why don't you share?

franco b · By: **franco b** On: Fri Jul 20, 2012 11:44 am

What you are overlooking Sam is that it was government interference in the first place that caused the problem. The urge to do good can do a lot of harm and that is just what it did.

Either you believe in a market economy or you don't. We see how well a managed economy worked in Russia and China and also what happened when China did adopt a market economy.

Most economists are frauds because they cannot possibly foresee the effect of the millions upon millions of decisions as well as the evolution of technology that goes into the makeup of an economy.

Almost everything effects everything else and we are feeling the effect of things that happened hundreds of years ago. Some very small at the time. "For want of a nail the kingdom was lost."

samhill · By: **samhill** On: Fri Jul 20, 2012 12:09 pm

Franco, what I am not overlooking is that going back to what we just came from isn't going to help. There are plenty of things that may or may not help but once one has been tried & failed hopefully you don't try again. I've gone thru a recession that directly impacted me & one thing for sure is it always takes longer to recover & many if not most of those jobs are gone forever. I stead of pointing everything out as being wrong why not come up with some solutions? A military take over of the world ain't gonna work, never has never will. Besides that I see no answers from your side besides cut from those that don't have & take nothing from those that have most & in fact give them more. If that kind of thing had worked there wouldn't be much to talk about in the summer months.

franco b · By: **franco b** On: Fri Jul 20, 2012 12:15 pm

jpete wrote:
samhill wrote:Jpete, your the type that everything has to be made idiot proof for, you will take something & pick out an obscure off the wall possibility & run with it. To get past that I would have to name every wealthy person & list what I thought they would do, buy or pretty much just take. Just like the banks foreclosed on all the farms during the depression, they weren't intending to turn into farmers, property is something that can't be made very realistically or economically so that's what they buy property, what's on it doesn't really matter much. & before you say it I know a hotel is worth more than a house & the properties at the end are worth more than the ones in the beginning.

So the banks foreclosed on all the farms?

Then what happened?

The banks had to sell them at prices people could pay right?

THAT'S how all the bad debt gets wiped out. Like, water, all the prices find their natural level.
We see that happening in the current housing market. Government stimulus drove up prices to unrealistic levels until those who it was meant to help could no longer sustain the cost. The market in housing crashed. Debt was wiped out with those who it was meant to help bearing the burden. Housing prices have now assumed a more realistic level and for the first time in the past 3 or 4 years new housing starts are up.

So now you know how depressions wipe out bad debt.

franco b · By: **franco b** On: Fri Jul 20, 2012 3:13 pm

The other side of the coin is how the banks debt got wiped out. The government did it by purchasing bad debt with printed money. The debt is then paid by all those with any dollars through inflation. Again the poor pay the most. They get screwed twice. Once when they lose their house and again when their money is worth less. The rich come out richer than ever. They hope it won't change.

homecomfort · By: **homecomfort** On: Sun Jul 22, 2012 9:38 am

jpete wrote:
homecomfort wrote:
jpete wrote:So you figure the super wealthy will just buy up everything and then what?

Maybe Warren Buffet would like to have 100 million houses perchance?

Buy up the White House, pretty close to the "everything"

Including the current resident?

at the expense of democracy.

Clear Channel’s Directors Give Big to Romney

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