Mental Health Support Thread (NOT for giving medical advice, or debating)

Discussion in 'The Lounge' started by Scattercat, Sep 8, 2008.

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  1. stoned4assassin20

    stoned4assassin20 New Member

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    I'm with you on that. Of course, cash is being phased out in favor of technology. After all, it's just too damn cumbersome to count out bills when you can swipe a card.
     
  2. Speedy

    Speedy Contributor Contributor

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    Interesting point. With the plastic, im sure they were huge in the late eighties/early 90s then for a while kind of went of the blind (in Australia) which, again seem to be in favour again.

    More in favour of the smart card, cause i can trust myself with the money if it was to ever be "the way"
     
  3. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    I'm fine with my debit card, since I can't overdraw with it. So all the money I'm spending with it, I actually have.
     
  4. lordofhats

    lordofhats New Member

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    That's the strength of capitalism. I think Adam Smith should be required reading. The Wealth of Nations is a amazing book. Capitalism plays to humanity's strength of self preservation and self interest. I've always found its better to play to your strengths than your weaknesses.

    The only problem is people want it all and it to never stop. The capitalist system grows systematically and has to balance itself with tha growth, which means it has to stop every now and then and maybe even take a step back.

    It'll bounce back eventually and we'll keep going again. The only other options have proven complete failures: Socialism (where those of us who work hard and do well get or money stolen and given to those who have not done so well), or Communism (where the government owns everything adn you're just a cog in the machine).

    In 20-30 years we're probably going to see the collapse of many south american states, and Cuba is already down and China is making a gradual shift to a free market. Capitalism is the only system besides Feudalism that has worked for any period of time.

    PS: I love debit cards :D. They're great!
     
  5. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Or we could bring back feudalism. That'd be interesting :p
     
  6. lordofhats

    lordofhats New Member

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    Feudalism failed also. It proved stable but imperfect for growing a strong economy that will allow a nation to prosper. In Feudalism everyone is a have not and the only have's are a small handful of lords. It proved incapable of providing basic needs to the common people which is why rebellion was common in many feudal societies.

    Feudalism only worked because after the collapse of Rome it was that or anarchy.

    Capitalism has existed in some way shape or form for nearly 3000 years. Its the only economic system that survives the test of time.

    It would be interesting though :p. I could be Lord of Hats in name and position... Lord of Hats, Washington USA :rolleyes: (yes, there is a town in Washington called Hats).
     
  7. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Well I'm already Grand Emperor of Earth, so that fits...

    And I know it wouldn't work, I just said it would be interesting. And I agree with your point, but I'd make one little alteration:

    It's the only economic system, that we've come up with thus far, that survives the test of time.
     
  8. EyezForYou

    EyezForYou Active Member

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    Yeah, but if you cheat the system, it winds up imploding on itself.
     
  9. Fluxhavok

    Fluxhavok Active Member

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    let's see what happens with the govenrment's repository plan.
     
  10. lordofhats

    lordofhats New Member

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    There was no cheating in the system. Just some stupid choices. There's no big conspiracy here it's just the way the economy is. People do something stupid and try to make a quick buck and the system catches up with them and has to adjust itself.

    PS: Government bailouts usually don't help either. Its sort of like throwing more money into the fire to be burned away. Let the system work itself out and it'll recover fast than if we try to stop it from moving on its way.
     
  11. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Stop rocking the boat, and it will stabilise all the quicker.
     
  12. NaCl

    NaCl Contributor Contributor

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    And, there are no lessons learned by people who don't feel some of the pain for making bad decisions. Pain is the inoculation for repeated stupidity.
     
  13. mammamaia

    mammamaia nit-picker-in-chief Contributor

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    sadly, it's not that simple... the problem is that the boats' holds were filled way over their limits and those loads were laded so sloppily and haphazardly, that they slipped in heavy seas and capsized their carriers... so, you can't 'stabilize' boats that have sunk beneath the waves, can you?...

    what's needed is experienced, top-level loadmasters and there were none in sight, when those boats were laded!
     
  14. EyezForYou

    EyezForYou Active Member

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    That's what I meant. lol? Making a quick buck means cheating the system. :)
     
  15. NaCl

    NaCl Contributor Contributor

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    Lots of "quick bucks" were made during the build up to this current economic downturn. Like all schemes, the last guy into the pyramid gets screwed. In this case, the "last guy" is the American taxpayer because the government is providing funds to undo the investment debacle. The government should have allowed the "last guy in" to suffer the consequences, but now that the government has decided to intervene, they should open the records to see who made the big bucks during the period of poor management and RECOVER those profits by applying the concept of "fiduciary responsibility", i.e. - those managers had a fiduciary responsibility to make sure the investments were "prudent" and carried usual and customary risk. For example, if you allowed a young couple to buy a house without financial disclosure and using a highly speculative Adjustable Rate Mortgage, it is easy to prove that the purchase was NOT within the acceptable range of risk for the typical homeowner. In that case, the damages should apply to the loan broker, lender and real estate agent(s) - all of whom have a fiduciary responsibility to make sure the naive "investor" received ample cautionary counseling.

    If I was appointed Czar of the Committee to Review Mortgage Lending Practices, there would be a crap load of RE agents, loan brokers, lenders and Errors & Omissions Insurance carriers that would be running for the border!
     
  16. lordofhats

    lordofhats New Member

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    That won't solve the problem NaCl. The government should just stay out of it there is nothing abnormal about what is happening (believe or not its been happening for a long long time. Anyone know of the Tulip bubble of the 19th Century?).

    The last guy came in and got screwed tough luck. To coin a phrase for the situation:

    Socialism: You have two cows. One dies because you didn't feed it so the government "steals" one from someone else and gives it too you.
    Communism: You have two cows. The government doesn't feed them and they die so no one gets milk.
    Capitalism: You have two cows. You sell one and buy a bull, and the poor buyer owns the cow you sold when it dies and loses their investment. Tough luck.

    Someone gets screwed in capitalism no matter what you do. No point whining over spilled milk.

    Essentially all a government bail out doe sis throw away money. The system will crash no matter what you do before it rebounds. Why give it more money to sink into the hole? We can't all be winners. Every now and then someone takes a hit and its ridiculous for them to expect the rest of us to save their butts (especially when its their fault!).
     
  17. marina

    marina Contributor Contributor

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    The money I earned this summer tutoring and babysitting is in my family's fireproof safe here at home (I've been too lazy about putting it into a money market account, which I had planned to do). I read tonight that even those kind of accounts are losing money. Suddenly it seems like our safe is "literally" the safest place for it to be.
     
  18. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Reminds me of this thread.
     
  19. EyezForYou

    EyezForYou Active Member

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    Nazi one's pretty hilarious.

    If it weren't true. :( But I did laugh.
     
  20. lordofhats

    lordofhats New Member

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    Its actually a really common analogy. My economics professor has a poster.
     
  21. lordofhats

    lordofhats New Member

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    The Government Prepares Financial Package

    Looks like the US Gov is pulling out the big guns. They're getting reader to pump money into the housing an moan markets to try and stabilize them, and have stopped short selling of unowned shares (which the SEC believes was responsible for the collapse of Lehman Brothers). They also plan to ensure some markets to decrease damage and to protect life savings.

    The Bush Administration has drafted a proposed package and plans to work it out with Congress over the weekend, and hopefully begin acting next week. Apparently, during the announcement of the proposal, stocks rose 300 points, peaking at 450 before slightly dropping again.
     
  22. Fluxhavok

    Fluxhavok Active Member

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    haa haahh, ah'm back on top baby!
     
  23. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Part of me feels a bit indignant, that some people's idiot decisions and greed have led to this, and yet the state is bailing them out. But I suppose it's for the greater good.
     
  24. lordofhats

    lordofhats New Member

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    I agree, and I can see the need to save the majority of the US from an economic disaster caused by a few but I find it pathetic how we mock and belittle our government all the time and tell it to stay out of our lives and then go running to her when everything isn't going our way.
     
  25. Banzai

    Banzai One-time Mod, but on the road to recovery Contributor

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    Karl Marx must be doing "told you so" dances in his grave...
     
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