Message from @sɪᴅɪsɴᴏᴛʜᴇʀᴇ
Discord ID: 534062890957668364
@chad No it's not
Mail service is terrible
Royal Mail used to be shit
FEDEX and UPS are far better
I hear the same about USPS
Well you do pay for mail
it's called taxes
and you'd probably get it much more efficiently
If anything, you'd save more money since whenever you don't need to post you won't pay. Unlike now when you get taxxed.
Democratic socialism isn't even real, you can't seize the means of production democratically. Norway is more capitalist than USA infact.
I'd like to point out the FED is unconstitutional and should be abolished
so is the FIAT money
@Leo (BillNyeLand) I’ve went over every recession in the 1800s
All of them were caused by credit expansion
With the exception of one which was linked with greenbacks and credit expansion
@Shadowstitcher11 That’s a strawman
Nobody says that
Hello
Why did repealing that specific regulation lead to it?
Because it separated commercial and investment banking, which then allowed banks to make dangerous bets with our money
However glass steagal did not cover that
nor was it related
check the actual 4 components
Which actually had nothing to do with the crash
Since what caused the crash was subprime loans
They prevented FDIC banks from dealing in investment securities?
Which was a thing they were allowed to do for ages
And the fact is that only half of it was repealed
The only thing that was repealed from the Glass Steagal act in 1999, was that banks could now be affiliated with firms who engage in underwriting and deal in securities
@Neco2040 However, there was a regulation that infact CAUSED the crash. The community reinvestment act. This act forced banks into making loans that otherwise they wouldn't do on their own. It forced them into making loans to people who couldn't pay them back
Infact if it wasn't repealed in 1999 , the 2008 crash would have unfolded EXACTLY the way it did in 2008.
?
I do somewhat agree, I think we should have regulations that limit the amount of credit people can borrow
But the repeal of glass steagall is what made this such a big recession
@Neco2040 Glass Steagal wasn't repealed
only a part of it which had nothing to do with the crash at hand.