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Thread: How to ruin the US economy by Ben Stein

  1. #1
    GODFATHER
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    How to ruin the US economy by Ben Stein

    How to Ruin the U.S. Economy
    by Ben Stein
    http://finance.yahoo.com/expert/article/yourlife/112984

    Posted on Monday, October 6, 2008, 12:00AM

    1) Have a fiscal policy that creates immense deficits in good times and bad, burdening America's posterity with staggering burdens of repaying the debt.

    2) Eliminate regulation of Wall Street and/or fail to enforce the regulations that already exist, instead trusting Wall Street and other money managers and speculators to manage other people's money with few or no regulations and little oversight.

    3) Have an energy policy that disallows producing our own energy and instead requires that we buy energy from abroad, thus making our oil prices highly volatile and creating large balance of payments deficits, lowering the value of the dollar and thus making the problem get progressively worse.

    4) Have Congress mandate that banks and other financial entities lend money to persons they know in advance to have poor credit ratings or none at all.

    5) Allow investment banks, insurers, and banks to bet their entire net worth and then some on the premise that borrowers known to be improvident will in fact repay those loans.

    6) Allow the creation of large betting pools called "hedge funds" that can move markets and control the outcome of trading, thus taking a forum for savings and retirement for families and making it into a rigged casino game that exists primarily to fleece suckers like ordinary working men and women.

    7) Have laws that protect corporate officers from being sued for misconduct but at the same time punish lawyers in the private sector who ferret out such misconduct and try to make accountable the people responsible for shareholder and investor losses. If one of those lawyers gets particularly aggressive in protecting stockholders, put him in prison.

    Appoint as head of the United States Treasury Department a man whose whole life was spent on Wall Street, who became fantastically rich through his peddling of junk bonds at his firm while the firm later sold short those same sorts of bonds.

    9) Scare Americans into putting up $750 billion of their hard earned money to bail out the billionaires and their friends who created the market for loans to poor credit risks (The "subprime" market) and the unbelievably large side bets on those loans, promising that such a bailout would save the retirement savings of Americans, then allow the immense hedge funds to make the market crater immediately afterwards.

    10) Propose to save the situation by surtaxing the oil industry, which is owned by our fellow Americans, mostly in their retirement plans, thus penalizing Americans for investing in companies that efficiently and legally produce an indispensable product.

    11) Insist that the free market requires that banks and insurers with friends of the Secretary of the Treasury be saved but allow other entities not so fortunate to fail, thus creating total uncertainty and terror among financial institutions, and demolishing all of the confidence built up in financial circles since the days of FDR.

    12) Then have the Republican candidate say he would keep on the job the Treasury Secretary who facilitated the crisis, failed to protect the nation from the crisis, got the taxpayers to pony up to save his Wall Street buddies, and have the Democratic candidate, as noted, say he would save the day by taxing the stockholders of energy companies.

    There, that should do it.
    'If You Don't Know Where You're Going, Any Road Will Get You There." --The Cheshire Cat

    Be hold the Glory of Hermit Crab in a Glass Shell

  2. #2
    Made gibbEy's Avatar
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    Re: How to ruin the US economy by Ben Stein

    Sounds about right.......love Ben Stein.

  3. #3
    ~*~ DISNEY PRINCESS ~*~ Foolish Mortal's Avatar
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    Re: How to ruin the US economy by Ben Stein

    I take it Stein is not a McCain supporter?
    Sites that may or may not interest you..

  4. #4
    The Midday Toker DAVE's Avatar
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    Re: How to ruin the US economy by Ben Stein

    So after 8 years of supporting Bush he now feels this way?


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    I hate you most of all America Dave.

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  5. #5
    Made gibbEy's Avatar
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    Re: How to ruin the US economy by Ben Stein

    Quote Originally Posted by David the Mighty View Post
    So after 8 years of supporting Bush he now feels this way?
    I think there's plenty of blame to go around besides Bush.

  6. #6
    The Midday Toker DAVE's Avatar
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    Re: How to ruin the US economy by Ben Stein

    You left one off:
    13) Don't let anyone win Ben Stein's money.


    Spoiler:
    Quote Originally Posted by Elder Ethan Van Sciver View Post
    I agree with David the Mighty.
    I agree with Johan the Mighty.
    I agree with Eclipso The Mighty.
    Quote Originally Posted by Ethan Van Sciver View Post
    I agree with America Dave.
    Quote Originally Posted by buk was right View Post
    I hate you most of all America Dave.

    http://www.etsy.com/shop/LuckyLeftyArt
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    http://daveloves90scomics.tumblr.com/
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  7. #7
    Made Natty P's Avatar
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    Re: How to ruin the US economy by Ben Stein

    Quote Originally Posted by Foolish Mortal View Post
    I take it Stein is not a McCain supporter?
    He was a speech writer for Nixon and Ford and is a well-known voice for the right. I highly doubt he supports Obama.

  8. #8
    The Midday Toker DAVE's Avatar
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    Re: How to ruin the US economy by Ben Stein

    Quote Originally Posted by gibbEy View Post
    I think there's plenty of blame to go around besides Bush.
    Right, there's his party and his appointees. Forgot them.


    Spoiler:
    Quote Originally Posted by Elder Ethan Van Sciver View Post
    I agree with David the Mighty.
    I agree with Johan the Mighty.
    I agree with Eclipso The Mighty.
    Quote Originally Posted by Ethan Van Sciver View Post
    I agree with America Dave.
    Quote Originally Posted by buk was right View Post
    I hate you most of all America Dave.

    http://www.etsy.com/shop/LuckyLeftyArt
    Sports and Music Pop Art by me
    http://daveloves90scomics.tumblr.com/
    -Fun covers and art from the 90's


  9. #9
    GODFATHER RebootedCorpse's Avatar
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    Re: How to ruin the US economy by Ben Stein

    Ben's gonna ride his dinsaur to the rescue!


  10. #10

    Re: How to ruin the US economy by Ben Stein

    Stein, from what I remember, is a Republican. Good article, I agree with most of it. Wonder if he is voting McCain after all of this. I don't think he'd vote Obama.

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