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Peter Schiff predicts doom
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[QUOTE]Originally posted by glassman: [QB] [QUOTE]Originally posted by Propertymanager: [qb]and that kind on irrational denial is exactly why you don't understand that the economy is going to collapse under the weight of all the promised socialist entitlements that we can't afford and all the other overspending. That will make the housing crisis look like a party. [/qb][/QUOTE]denial of what? irrational based on what? you don't even know why the economy tanked. you blame everything on subprime. subrime is the boogy-man to divert attention away from outright theft and bad trade policies. you irrationally dream of a "return" to your "conservative principles". you cannot return to something that NEVER existed. you think the solution is to ignore the problem and wait for it to become so bad that people will beg for your ideal to save them. (delusions of grandeur) in the great depression? they allowed banks to fail... and one after another they surely did, even the "good" banks failed. that is the point of saving the big banks now. there's alot of good banks and good people that would fail too. in 29? 600 banks failed. over the next four years? ten thousand banks failed. had they stepped in and bailed in 29 and 30? the great depression would never have happened. the economic collapse we've had is due to one hellofalot of criminal behavior, and even more professionally unethical behaviour. allowing the big banks to fail today would put a greater tax burden on the people because we have the FDIC, but you are too simple to understand what that obligation is. the FDIC is also the reason that the banks didn't have ALL their deposits withdrawn you may think you want more than to just get by, but people who do more than just get by are either extraordinarily talented at what they do or they are theives. you have demonstrated no talent that i can see [/QB][/QUOTE]
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