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Sat Apr 16, 2016, 03:32 PM

DWS invites Wall Street criminals and oil comapies into our party's Big Tent [View all]

This was the subject of a thread in LBN yesterday, but the video should be seen.
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Debbie Wasserman Schultz is full of baloney. Along with crooked banks and major fossil fuel polluters -- and let's not forget Debbie's pal, your friendly neighborhood payday lender -- let's invite private prison corporations and mercenary service corporations like [strike]Blackwater[/strike] [strike]Xe[/strike] Academi into the Big Tent.

The American and world economy is in crisis because of entire industries that should be done away with. Private prisons, mercenaries and payday lenders have no more right to exist than an unregulated recreational drug industry or unregulated loan sharks, which is what a payday lender is and DWS wants to keep it that way. I'd rather have heroin legalized than private prisons or mercenary service companies as those are industries than strive on high crime rates and international tensions. A legalized dope industry would be easier to regulate and contain, while private prisons and mercenaries would demand criminals to fill their prisons and wars, wars and more wars and [strike]bribe[/strike] generously contribute to the campaigns of crooked politicians to make sure they are sustained by high crime rates and pointless wars.

Speaking of pointless wars, there are more reasons than anthropogenic climate change to want to do away with fossil fuels. The oil companies should stop lying about it; we know that knew about the dangers of climate change before the public did and immediately launched a PR campaign to deny there was any problem at all. We should make every effort to supplement and eventually supplant fossil fuels with wind and solar power in the next thirty years. If we had begun this process forty years ago, we'd done by now and the world would be a much better place with more blue sky and green grass.

Banking by its nature is a parasitic industry; it produces no wealth and only serves to move money around, which could be a useful enterprise when properly regulated. The notion that banks create wealth by making loans is nonsense in the best circumstances and dangerous sophistry when combined with quantitative easing (i.e., the Federal Reserve prints money and gives it to the banks at zero percent interest), as is the case now. Money is not wealth, it is a convenient medium of exchange and nothing more. Through quantitative easing, at least the Fed keep the bank from lending money it doesn't have (that would be fraud), but it doesn't mean that there is no word for what happens when that money, printed without regard to an increase in goods and services, goes into general circulation and that word is inflation. There is no question that Wall Street banks should be re-regulated by returning to the status quo ante prior to 1999 when the Gramm-Leach-Bliley Act became law and, in addition, the banks broken up to reduce the likelihood that a failure of one too-big-to-fail financial institution will drag the rest of the economy down with it. If that doesn't look like an adequate solution, then we can always nationalize the financial industry, which might be the ultimate solution to any parasitic industry.

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Reply DWS invites Wall Street criminals and oil comapies into our party's Big Tent [View all]
Jack Rabbit Apr 2016 OP
cantbeserious Apr 2016 #1
Geronimoe Apr 2016 #2
truedelphi Apr 2016 #4
Omaha Steve Apr 2016 #3
Dragonfli Apr 2016 #14
Enthusiast Apr 2016 #21
SoapBox Apr 2016 #5
tomm2thumbs Apr 2016 #6
Jack Rabbit Apr 2016 #8
tomm2thumbs Apr 2016 #10
Jack Rabbit Apr 2016 #12
tomm2thumbs Apr 2016 #13
arcane1 Apr 2016 #7
Jack Rabbit Apr 2016 #9
libodem Apr 2016 #11
Dragonfli Apr 2016 #15
Enthusiast Apr 2016 #22
Scuba Apr 2016 #16
Jackilope Apr 2016 #17
Scuba Apr 2016 #19
Jack Rabbit Apr 2016 #20
Thespian2 Apr 2016 #23
MisterP Apr 2016 #28
Vote2016 Apr 2016 #18
jtuck004 Apr 2016 #24
840high Apr 2016 #25
djean111 Apr 2016 #26
reACTIONary Apr 2016 #27