earthdome Posted March 18, 2013 Posted March 18, 2013 Theft? How can taxation be classed as theft? The short story = They are talking about stealing depositor's money before taking the money from the investors that supposedly had the risk. I agree with 'theft', especially on the insured part of the deposit. They are stealing your faith in the insured deposit systems. They need to take the investor money first, then tax the UNINSURED deposits if it must be. Just Sayin' :th_unfair: Who are the investors? Pension funds? Unit trusts? Managed funds? All of whom use Joe Public's money to invest and hopefully provide pensions/savings returns for us. I agree it's unfair but who says that life is fair? The country is in a huge mess and needs sorting NOW before worse happens. If you continue to bail out failed financial institutions they will never learn to avoid bad or risky investments. And neither will the public learn to do their due diligence on their investments and to diversify. The best thing is for government to do nothing and let businesses fail who made bad decisions. If businesses understand there are no bailouts they will learn to be wiser in how they operate. This is called creative destruction... where poorly run businesses go out of business and are replaced by their competitors who made better choices and makes more room for innovative startups. 2 Link to comment Share on other sites More sharing options...
Curley Posted March 19, 2013 Posted March 19, 2013 The best thing is for government to do nothing and let businesses fail who made bad decisions. If businesses understand there are no bailouts they will learn to be wiser in how they operate. This is called creative destruction... where poorly run businesses go out of business and are replaced by their competitors who made better choices and makes more room for innovative startups. Whilst agreeing with you in essence there is a difference when it comes to allowing a country to go bankrupt, you punish every citizen for the greed and mistakes of a few. Link to comment Share on other sites More sharing options...
earthdome Posted March 19, 2013 Posted March 19, 2013 The best thing is for government to do nothing and let businesses fail who made bad decisions. If businesses understand there are no bailouts they will learn to be wiser in how they operate. This is called creative destruction... where poorly run businesses go out of business and are replaced by their competitors who made better choices and makes more room for innovative startups. Whilst agreeing with you in essence there is a difference when it comes to allowing a country to go bankrupt, you punish every citizen for the greed and mistakes of a few. IMHO nothing is too big too fail, including governments. In the USA who got bailed out and who payed for it? Seems to me that with the government bailouts of businesses to big to fail resulted in everyday citizens being punished for the greed and mistakes of a few. It is a lose-lose situation. Better to just nip it in the bud. 1 Link to comment Share on other sites More sharing options...
Curley Posted March 19, 2013 Posted March 19, 2013 The best thing is for government to do nothing and let businesses fail who made bad decisions. If businesses understand there are no bailouts they will learn to be wiser in how they operate. This is called creative destruction... where poorly run businesses go out of business and are replaced by their competitors who made better choices and makes more room for innovative startups. Whilst agreeing with you in essence there is a difference when it comes to allowing a country to go bankrupt, you punish every citizen for the greed and mistakes of a few. IMHO nothing is too big too fail, including governments. In the USA who got bailed out and who payed for it? Seems to me that with the government bailouts of businesses to big to fail resulted in everyday citizens being punished for the greed and mistakes of a few. It is a lose-lose situation. Better to just nip it in the bud. If you allow a country to go bankrupt then every citizen will hold worthless money, the country will not be able to get international credit to buy essential goods such as fuel, businesses in that country will go bankrupt because they will have no money or credit. This means no jobs, no money for food, no electricity, no fuel and the biggest sufferers will be the ordinary people. Link to comment Share on other sites More sharing options...
JJReyes Posted March 19, 2013 Posted March 19, 2013 Yes, it could happen in the states, the national debt is approaching $17,000,000,000,000 (count those zeroes!!!) When the interest payments approach more than the national income ..... Don't forget, the government can sell assets....like the Brooklyn Bridge. I had a big laugh this morning after reading that Vladimir Putin was so upset over the Cyprus situation. Celebrity Network estimates his networth at $40 billion. He and his cronies just lost a few zeroes. 2 Link to comment Share on other sites More sharing options...
earthdome Posted March 19, 2013 Posted March 19, 2013 Maybe those are lessons people need to learn. That you can't trust government to be in control of central banking using fiat money. 2 Link to comment Share on other sites More sharing options...
Curley Posted March 19, 2013 Posted March 19, 2013 Maybe those are lessons people need to learn. That you can't trust government to be in control of central banking using fiat money Agreed but what is the solution? 1 Link to comment Share on other sites More sharing options...
Mike S Posted March 20, 2013 Posted March 20, 2013 There is no answer ..... as long as government continues to do exactly what they want knowing that SOMEONE will bail them out when ever they get into trouble it will continue ...... I just wish I could open a business .... make poor investments .... make no effort to cub my spending .... live high on the hog at other peoples expense and yet when I was about to go under have some idiot pour more money into my venture to keep me afloat so I could keep doing the same thing all over again ..... There is an alternative but it ain't pretty ..... in the private sector it is called bankruptcy ..... 1) You loose all your pretty little toys and someone else takes over your business which you loose by default and it now belongs to someone else 2) your business gets sold to the highest bidder 3) You have to pay back the major portion and can't borrow any more until it is paid back ..... can't do that then see 1 & 2 above Nope it ain't pretty but SOMETHING has to be done ...... IMHO ..... :cheersty: 1 Link to comment Share on other sites More sharing options...
i am bob Posted March 20, 2013 Posted March 20, 2013 There is no answer ..... as long as government continues to do exactly what they want knowing that SOMEONE will bail them out when ever they get into trouble it will continue ...... I just wish I could open a business .... make poor investments .... make no effort to cub my spending .... live high on the hog at other peoples expense and yet when I was about to go under have some idiot pour more money into my venture to keep me afloat so I could keep doing the same thing all over again ..... There is an alternative but it ain't pretty ..... in the private sector it is called bankruptcy ..... 1) You loose all your pretty little toys and someone else takes over your business which you loose by default and it now belongs to someone else 2) your business gets sold to the highest bidder 3) You have to pay back the major portion and can't borrow any more until it is paid back ..... can't do that then see 1 & 2 above Nope it ain't pretty but SOMETHING has to be done ...... IMHO ..... :cheersty: You mean that someday soon, we might see.... With all that Trillions of $ worth of debt.... The United States of Canada? :mocking: 1 Link to comment Share on other sites More sharing options...
Mike S Posted March 21, 2013 Posted March 21, 2013 Geeeeeeez Bob ... having lived in Florida some 30+ years I thought each winter with the influx of people from the frozen north-land that that had already happened ..... :36_6_3[1]: :hystery: :hystery: :cheersty: 1 Link to comment Share on other sites More sharing options...
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