Weaken regulations, trains and banks crash, but hey small government, slash the red tape.
In fairness, the train crash had bipartisan support.
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SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
11–20 of 201 posts
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#12Sure SVB used lobbyists but that's not the crux of the issue. The issue is our governments tax and spend policies are driving up rates to an unsustainable amount. SVB is totally at fault, don't get me wrong, but this is the house of cards we have built.
Interest rates are where they were in the mid/late 90s (https://fred.stlouisfed.org/series/FEDFUNDS). The idea that these interest rates are unsustainable/dangerous is just silly. If anything, the 2009-2016 and 2020-2021 periods at an interest rate of 0% are the anomalies.
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#13Which groups are working to reduce the impact of $ on laws? One I've seen is https://represent.us , who else?
The capitalist class will always leverage its capital for its own interests. It's an inherent fact of capitalism.
The American socialist movement was mostly wiped out during the Red Scare.
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#14Which groups are working to reduce the impact of $ on laws? One I've seen is https://represent.us , who else?
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#15Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#16Which groups are working to reduce the impact of $ on laws? One I've seen is https://represent.us , who else?
The capitalist class will always leverage its capital for its own interests. It's an inherent fact of capitalism. The American socialist movement was mostly wiped out during the Red Scare.
Sure, but that doesn't mean that we can't fight that. Indeed, I think it means we must work ardently against it. Capitalism's pretty neat, but it has known failure modes like monopoly and corruption.
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#17Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#18Which groups are working to reduce the impact of $ on laws? One I've seen is https://represent.us , who else?
The capitalist class will always leverage its capital for its own interests. It's an inherent fact of capitalism. The American socialist movement was mostly wiped out during the Red Scare.
What is capitalist about modern banking? It's probably the most regulated industry in existence. Where a practice that would normally be regarded as fraudulent anywhere else (fractional reserve banking) is not only legal but encouraged by government. There's nothing capitalist about it[0].
[0] https://mises.org/power-market/central-banking-socialism
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#19Sure SVB used lobbyists but that's not the crux of the issue. The issue is our governments tax and spend policies are driving up rates to an unsustainable amount. SVB is totally at fault, don't get me wrong, but this is the house of cards we have built.
Interest rates are where they were in the mid/late 90s ( https://fred.stlouisfed.org/series/FEDFUNDS ). The idea that these interest rates are unsustainable/dangerous is just silly. If anything, the 2009-2016 and 2020-2021 periods at an interest rate of 0% are the anomalies.
The problem is is that the amount of debt is percentage of GDP, and therefore the interest rates that we need to pay are significantly higher now. This kind of analysis is hopelessly naïve without taking into account overall macro situation.
Re: SVB Used Former McCarthy Staffers to Weaken Regulations, Lobby FDIC
#20Earlier quoted context omitted.
The capitalist class will always leverage its capital for its own interests. It's an inherent fact of capitalism. The American socialist movement was mostly wiped out during the Red Scare.
Sure, but that doesn't mean that we can't fight that. Indeed, I think it means we must work ardently against it. Capitalism's pretty neat, but it has known failure modes like monopoly and corruption.
It does mean you can't fight it with little advocacy groups or well-meaning think tanks. According to history, you need a strong labor movement led by principled socialists.