caryking said:So, you admit…. Populism can have a liberal and conservative view?hokiewolf said:The government bailout had to happen because the government caused the issue in the first place by being in the business of mortgage lending and also insisting that there would be less restrictions so that people who have no business having a mortgage got a mortgage.caryking said:Protectionist, as you like to call things, absolutely does not pick winners and losers. Was it protectionist populist, as you call them, that bailed out the financial institutions in the late 200's?hokiewolf said:I think there is a need for good, sound government regulations. But, get rid of the stupid protectionist **** that chooses winners and losers and I'm on board. Unfortunately, both sides have no appetite to make that change, otherwise the Jones Act would be fired into the sun by now.SmaptyWolf said:You do realize you're quoting Karl Marx, right? Like almost literally.caryking said:
Hokie, MAGA is a simple phrase of thinking about the US first. Populism is nothing more than a call to action against the Elite in Government. Those Elites create a system with private sector companies to enrich each other.
Middle class people, that includes you, are subjugated to a ruling class, whether in governmental power or not.
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That said, Polpulism is nothing more than the antithesis to Elitism. Pick your side…
Leaving aside that Marx's economic theories to deal with the "elites/private sector" thing are easily refutable nonsense, I wonder if you realize that your "getting rid of the all regulations will somehow make the private sector (who are the ones doing the corrupting) less powerful and abusive" solution to solve that problem is even stupider?
In that case, it was the opposite. The populist mob wanted less restrictions on lending to allow for lower income folks to get home loans in an effort to make it "affordable".
Of course, though they often intersect in weird ways. You've definitely started sounding a little Marxist lately with all of your proletariat talk.
But yeah, Hoakie's out to lunch on this one. There wasn't some populist mob pressuring the loan industry, there was a voracious MBS market that quickly ran out of legit loans and needed a tsunami of garbage loans to pack their MBS's with to keep the good times rolling.
