Comments on: Depression Porn: The New Taxpayer-funded Subprime Market No One Wants You To Know About

By: Mike Gogulski

Mike Gogulski — Sun, 19 Jul 2009 19:58:45 +0000

Nothing surprises me anymore.

America, fuck yeah (faceplant in peanuts and beer detritus on bar)

By: Frank McG

Frank McG — Thu, 25 Jun 2009 11:17:18 +0000

I think I need to go watch Glengarry Glenn Ross again.

By: Dammerung

Dammerung — Fri, 19 Jun 2009 02:51:13 +0000

Yasha Levine for Secretary of the Treasury and Peter Schiff for Chairman of the Federal Reserve. The government is killing the goose that laid the golden egg - US! THE TAXPAYERS!

By: az

az — Thu, 18 Jun 2009 20:55:10 +0000

Or just read the chapters on money and banking in Capital by Marx, it’s all right there.

By: az

az — Thu, 18 Jun 2009 20:54:13 +0000

Simon: This has happened since before capitalism even existed and money was just a weight of precious metal. People work for a wage, need money before they get the wage, spend it, get the wage, repay the debt with interest, take out another debt as they have no money again, etc. The lender-debtor employment system eventually collapsed because the debtors were financially ruined and could no longer afford to buy the goods they made for the lender, from the lender. This led to the systems of slavery we know of so well in the age of antiquity. What’s different today is that slavery and serfdom are outdated systems and while employment is the latest and most efficient one, it has also befallen the fate of falling profits and the introduction of credit to make up for that. Except credit is tied to capital both when it is given out and when it’s spent.

By: Simon

Simon — Wed, 17 Jun 2009 23:38:20 +0000

To pay off the existing debt, new debtors have to be found, that is the way the money and banking system works. Problem is we have run out of new people prepared to take on more debt and existing debtors have had enough. Time to create debt free money, not allow the banks to create yet more debt money.

By: Chris

Chris — Wed, 17 Jun 2009 19:53:12 +0000

That’s great Yasha.

BTW, where the fuck is War Nerd on Iran?

I’m pissed and I’m like Francis Bacon: I would like to suck his cock.

By: az

az — Wed, 17 Jun 2009 15:56:03 +0000

@8: That’s what those on the so called ‘loony left’ apparently want to do. I remember reading a Freeper discussion of how Tysons Corner in Northern VA is going to be turned into a mixed-use area instead of being an enormous parking lot the government can’t afford anymore and that apparently what is actually going on is that the liberals want to put everyone into cattle cars to live in ghettoes. Otherwise read Tommy’s comment.

By: Mark

Mark — Wed, 17 Jun 2009 13:07:47 +0000

Yeah, middle class people have an unkillable house fetish. When I hung around with upper-middle class people, I was under no pressure to own a house. They were always doing things outside their houses. Then when I got my middle-class girlfriend, it was house house house house house….

By: mmmm

mmmm — Wed, 17 Jun 2009 08:04:39 +0000

Wow, I really wish there was some way to divorce middle and lower-income Americans from their ubiquitous homer-ownership fetish.

Get people into largish, even luxurious apartments/flats and get the requisite car ownership out of the equation (they do rent those things, you know) and all of a sudden, people aren’t so cash poor anymore…

…but I understand this is a batshit, lunatic fringe position. We’re just going to have to meekly accept and brace for the next big contraction, because simply stepping out of the way would be *crazy*! I mean, honestly, no house? Our broke-ass friends would all laugh at us! Mommy and daddy would disapprove!