Deregulation is the answer? Has this not been de-bunked a thousand times over yet?

How about the US actually make something that the world wants to buy, wouldn't that be better?

>> ^BreaksTheEarth:
Deregulation is the answer? Has this not been de-bunked a thousand times over yet?
How about the US actually make something that the world wants to buy, wouldn't that be better?


not really.
i think the death is in the details.
regulations have literally brought americas manufacturing to its knees.
they could not compete with so much regulation weighing in against their profit margin.
this is where the financial district became so appealing.
so where GM would offer a 3% on avg return,it was the DEREGULATED financial institutions who could offer up to 20%.
while unrealistic in the long run,you cant blame an investor for jumping on the bandwagon,anyone of us would have.
im not saying that the regulations in finance should be blanket,just the safegaurds that were slowly,over twenty years,picked away and brought us the disaster we find ourselves in today.
glass/steagle to be specific,but there were a myriad of safegaurds that the financial institutions lobbied to excise.
i agree with schiff on many things.
giving financial institutions free reign is not one of them.
the biggest thing i DO agree on is america needs to go back to manufacturing again.
in peter schiff's book "crash proof" he does not make it sound like that is going to be a walk in the park,but it is utterly vital that we sacrifice and start making the changes now.
article 76 of the federalist papers,alexander hamilton laid out an industrial nation plan.which america followed until the late 70's.
it was a outline that had america importing more raw material,manufacturing and lending more than ANY other nation in the world.
those statistics have literally flipped.
by definition,america is a third world nation.
one of the worst shifts in the american philosophy was going from "making/building stuff was good"
to...
"greed is good".
now..milton friedman said greed was good but that was based on the assumption people were playing by the rules of the free market.
and those rules have been ignored for almost thirty years.
we do not have a free market,we have an oligarchy of corporations.
the free market works.
this is a main reason why i am for a single payer system.
bring in the health insurance that will force the industry to cut its fat,and lower prices.
everybody wins.
thats my 2c's anyways.

Rest of the world buys treasuries and our financial product because our system has been solid so far. After corrupt financial system sold trash, and cheap money rotted our economy we are just waiting for the economic slump.

Yeah we need exports. When the dollar starts to tank, we will REALLY REALLY need exports. Anyhow the best way to avoid giant economic potholes is not to drive right in.

I think that a free market entails a Natural Selection of sorts. An Evolution of good business.

Not some market where the FED, and Taxation makes the incentives.

Let the big companies die. If the Unions kill the companies, let them die. They have to help themselves before any impotent government could even fathom helping them.

With unions to much of a good thing can be a bad thing. To much of the other can smother good business.

Its simple, good market is good competitiveness, not sneaky tactics. Its all about incentives. Every where I look I see bad incentives. A bonus for making that arrest, a bonus for hiring your best friend, a bonus for being a big name on wall street, a bonus for having kids, a bonus for getting married, a bonus for having a house and there are bonuses for just about every thing! Enough bonuses! That's a quick fix to make the common man feel better about an entropic system.

Start with the FED, then with move to Tax Reform. Then move on and cut the fat away from the Meat.

Remember, Schiff was the only person to effectively predict the economic hardship.

I beg to differ.

And if Schiff did so well to predict what was going to happen to the economy, why is it that his portfolio underperformed? Recall Schiff predicted $2000/oz to happen this year, in effect betting on inflation but what ultimately happened was that deflation became the greater danger -- this sent the dollar to unrealistic heights against most major currencies, and even against gold while US treasury yields went negative -- all signs of a deflationary market. This year, gold returned to mid $900 but has gone sideways ever since -- just 4 months left for gold to double in price for Schiff to be proven right.

When judging prognosticators one must be aware of one's tendency to only remember the hits and forgetting the misses.