Occupy London! Here we go again!

gropingmantis · 15 Oct 2011 at 21:44

UK-AL05 said:
A fair few of these people are on the right, annoyed by the fact they keep having to bail out banks(Left wing)

Wait? Thats backwards!

What the hell is it with hippies getting all upset about the police moving people out of the way? "Violent shoving from the police" Chants of "Shame on you". If you dont want to get pushed get out of the way, jerks. I have no time for these types. Spent 3 years in Brighton at Sussex Uni. I have seen and heard my fair share of faux lefty idiots to last me a lifetime. Are they offering any ideas on how to solve the problem? NO. All they are doing is telling people something they already know in a dickish manner. Its not like the economy being screwed hasnt been headline news for about the last 3-4 years.

wozzizname · 15 Oct 2011 at 21:46

Something needs to be done as the current system has clearly failed the majority of society - you don't have to be a left-wing tree hugger to realise that things need to change.

UK-AL05 · 15 Oct 2011 at 21:46

PermaBanned said:
Left wing banks?

Taking state money(Taxing people), and giving to the banks is left wing idea, it's socialist. Banks readily accept this, despite the fact they are right wing.

In general they neither, when it suits them they are left, when it suits them they are right.

PermaBanned · 15 Oct 2011 at 21:47

Who's behind that mask i wonder

And UK-AL05, you're wrong.

UK-AL05 · 15 Oct 2011 at 21:49

PermaBanned said:
Who's behind that mask i wonder

And UK-AL05, you're wrong.

Why am i wrong?

[TW]Fox · 15 Oct 2011 at 21:49

Didn't the bank bailout involve the purchase of shares in the banks rather than just a huge pile of free money as most people seem to think?

gropingmantis · 15 Oct 2011 at 21:50

UK-AL05 said:
Taking state money(Taxing people), and giving to the banks is left wing idea, it's socialist. Banks readily accept this, despite the fact they are right wing.

In general they neither, when it suits them they are left, when it suits them they are right.

What? No, socialism is when production and manufacturing is all centrally owned, usually by the state. Giving taxes to banks is most certainly not socialist. You could say that the banks are becoming more socialist as they all slowly merge into one which would leave one central bank controlling all banks...

PermaBanned · 15 Oct 2011 at 21:52

UK-AL05 said:
Why am i wrong?

Because the idea of taxing is ancient, way before modern day (by which i mean, last 200-300 years) left wing ideals. There was the church, collecting money from peasants. And the monarchy in the days of feudalism. All far right institutions.

I think you're confusing it with Robin Hood. It's not robbing from the rich to give to the poor. It's taking from everybody to give to i don't know who any more.

UK-AL05 · 15 Oct 2011 at 21:52

[TW]Fox;20317558 said:
Didn't the bank bailout involve the purchase of shares in the banks rather than just a huge pile of free money as most people seem to think?

QE is when the government buys back government bonds from the banks in exchange for money thus increasing capital and decreasing leverging(Less money being lent out in relation to capital hold).

I'm guessing the bonds are over priced when they buy them back, for countries it's there bonds causing the problem(Greek bonds) and thus worthless

UK-AL05 · 15 Oct 2011 at 21:53

gropingmantis said:
What? No, socialism is when production and manufacturing is all centrally owned, usually by the state. Giving taxes to banks is most certainly not socialist.

Communism is that, not socialism.

Socialism is state subsidy, this tends to distort capitalism, not allowing companies to fail.

[TW]Fox · 15 Oct 2011 at 21:54

UK-AL05 said:
QE is when the government buys back government bonds from the banks in exchange for money thus increasing capital and decreasing levering(Less money being lent out in relation to capital hold).

We are talking about the bank bailouts not QE.

UK-AL05 · 15 Oct 2011 at 21:55

[TW]Fox;20317600 said:
We are talking about the bank bailouts not QE.

Same thing, different method.

gropingmantis · 15 Oct 2011 at 21:56

UK-AL05 said:
Communism is that, not socialism.

Socialism is state subsidy, this tends to distort capitalism, not allowing companies
to fail.

Not quite. Communism is a form of socialism where the central control is non existant and everyone co-owns everything.

[TW]Fox · 15 Oct 2011 at 21:56

UK-AL05 said:
Same thing, different method.

Well no, because QE is more akin to printing money than giving away existing money to banks. Which is why it devalues our currency and can increase inflation.

The bank bailouts are referring to when the government 'bailed out' the banks a few years ago, mostly by purchasing shares in the ailing banks providing them with cash injections using taxpayers money. The key point most of the 'its cool to hate the system' squad seem to miss is that we didnt get nothing in return - we got shares. Shares which have value.

cheets64 · 15 Oct 2011 at 21:58

LateX'Dog said:
Thought it was appropriate for this thread.

Very powerful speech.

This

After WW2 and the Cold War and numerous wars, we are still at words with each other, demand countries to stop doing what they are doing or else, debt is at a high, countries in debt to each other, civil unrest around the world.

This is just the beginning, debt and credit can only support the western economy for so long, get fit, get smart, have some military training and enjoy.

We should be enjoying the greatest lifestyle of any era on earth, all I know is I have another 50/60 years I am going to enjoy it no matter what I have to do. Weather it be world war, civil unrest or mundane work.

UK-AL05 · 15 Oct 2011 at 21:58

[TW]Fox;20317616 said:
Well no, because QE is more akin to printing money than giving away existing money to banks. Which is why it devalues our currency and can increase inflation.

Taxing decreases people money, by taking away money. Creating money takes people money by inflation.

Glaucus · 15 Oct 2011 at 21:58

The 99% who don't actually represent anywhere near that amount.

Why do minorities always assume they talk on everyone's behalf

[TW]Fox · 15 Oct 2011 at 21:59

UK-AL05 said:
Taxing decreases people money, by taking away money. Creating money takes people money by inflation.

I take it you didn't understand what I said, hence the bizarre reply which doesn't seem to be a reply to what I said.

LateX'Dog · 15 Oct 2011 at 21:59

[TW]Fox;20317616 said:
Well no, because QE is more akin to printing money than giving away existing money to banks. Which is why it devalues our currency and can increase inflation.

The bank bailouts are referring to when the government 'bailed out' the banks a few years ago, mostly by purchasing shares in the ailing banks providing them with cash injections using taxpayers money. The key point most of the 'its cool to hate the system' squad seem to miss is that we didnt get nothing in return - we got shares. Shares which have value.

Didn't the Bank of England just say they were about to print £75 billion?

UK-AL05 · 15 Oct 2011 at 21:59

[TW]Fox;20317616 said:
Well no, because QE is more akin to printing money than giving away existing money to banks. Which is why it devalues our currency and can increase inflation.

The bank bailouts are referring to when the government 'bailed out' the banks a few years ago, mostly by purchasing shares in the ailing banks providing them with cash injections using taxpayers money. The key point most of the 'its cool to hate the system' squad seem to miss is that we didnt get nothing in return - we got shares. Shares which have value.

Most likely we paid far to much for them. Anyway increasing state ownership(Shares) is also socialism.