We should celebrate March 2013 as the month Off-Topic went Full Retard.
Fiat currency would definitely not be fine without regulation, because it would be dead. Nobody would fucking want it. Regulation forces people into it. That's right. Force. A fuckin gun against your head.
As for your second statement, even if a housing bubble had occurred, it would not have been at the magnitude it did if it weren't for government involvement. The fuckin market was never 'de-regulated', the existing regulations were just altered. If anything, it was 're-regulated.'
Last edited by Rokstarr; 09-16-2012 at 15:19.
Originally Posted by Bertrand Russell
Hint: every insult is not an ad hominem. Calling you pathetic is not ad hominem. Every point you have ever tried to make has been refuted on its merits alone. The insults you receive are due to your blatant disregard for fact and blind faith in whatever dogma you heard your preachers in school give you.
Now add the exponential effect of the derivative sales of these bundled mortgages and you get the financial crisis.
The cause and effect doesn't get much more direct. Gov't regulations/actions caused the bubble and all bubbles burst.
What regulations were relaxed in your opinion that caused the crisis? If you have a better explanation, let's hear it.
To speak generally, and in regards to finance, the private sector is always miles ahead of regulators, if not in bed with them. What regulation does serve to do is bar entry to markets to those not entrenched.
As for regulations or lack of regulations in this recent fiasco, not only was there not a lack of regulations, but the regulations themselves incentivized concentration in certain investments (see leveraging maximum criteria based on agency ratings).
Last edited by Vanno; 09-21-2012 at 02:43.
"Everytime you PK a newb, a breakdancer shitkicks a baby."-Goty