With no drug dealer though, it would be a non-issue.

>here who think that the recession is caused by the failure of the fractional reserve system
>its not, it was caused by a massive credit burst

dumb libfag wannabe economist who doesn't understand how they are the same thing.

you cannot magic credit out of thin air without a fractional reserve system and without the printing presses of fiat money.

OP are you familiar with the Austrian Business Cycle theory? That's pretty much what you are describing. Yeah, a lot of Austrian Economics is pretty out there, but Hayek's work is pretty compelling. Here's a good powerpoint on it:

http://www.auburn.edu/~garriro/cbm.ppt

those commercials where they ask WHY PAY MORE FOR TV are funny to me, because i don't even have cable. why should i pay 50 bucks a month for a hundred channels of shit and advertisements?

livan within mah means.

I think it's hilarious when people try to saw baww baww we're in such a mess, then spout off this or that thing they should do to save the economy.

FUCK YOU

I've made more money in the last 3 years than I have in any other time in my life, bought 2 homes, 3 cars, I'm about to go spend a month in Mexico.

If you ask me the economy is doing just fine, but then again you're probably too stupid to do what I do. And that is YOUR PROBLEM, not mine.

OP doesn't know it's impossible to run a business without credit.

>>1059600

if the fractional reserve system was being used to invest in buisinesses, instead of being lent as credit, then that still means it was the end users fault, not the lenders

HUURRR DUMB AUSTRIAN SCHOOL FAG WANNA BE DURRR

>the largest part of it though, is Americans are consumer whores who are incapable of living withing their means, and instead of saving and investing wisely, they go out and buy big screen TVs and other stupid shit.

Americans were incapable of living withing their means because the cost of living increased against their stagnant wage. The minimum wage is below the actual cost of living in most cities in the US.

>>1059614

That's the way to do it.

I don't even have a cell phone. I pay $10 a month for vonage and $45 for 25/25 megabit fuck-awesome fios.

>they go out and buy big screen TVs

TVs are fucking cheap.

You can do better than that.

>>1059655

lulz

>>1059640
THE ONLY PEOPLE WHO WORK FOR MINIMUM WAGE ARE TEENAGERS AND UNEDUCATED CRIMINAL NIGGERS

>>1059625
What do you do?

>>1059631
You are a fucking idiot.
Fractional credit means that INEVITABLY at some point there will be a crash.

>>1059625
the economy is in terrible shape, unemployment is at all time highs.
Non-whites flood in by the millions, government has been greatly expanded.
Things are not looking good for White America.

>>1059655

TVs are only cheap now because EVERYONE started buying them

Flat Screen TVs were like 10000 dollars when they first came out

I personally don't get why people hate on Fractional Reserve banking. Yeah, the current system stinks, but that doesn't mean we should toss the baby out with the bathwater.

For example, the Scottish Banks of a few hundred years ago had a private version of fractional reserve banking -- they had a clause where if there was a run on the bank they could delay withdrawals for up to a year, but they would then pay a heavy interest penalty.

>>1059676

>Fractional credit means that INEVITABLY at some point there will be a crash.

[citation needed]

>>1059689
It's because it inevitably results in the collapse of the system. If anyone else were to do what the central banks do, they'd be thrown into jail for fraud.

>288139

>>1059711
Right right, I agree that central banks are shit, I'm just saying that the idea of fractional reserve banking isn't all bad.

>>1059668
Not true. People who work in the service industry and in other low-skill jobs are white and have a high school education. The ironic thing about these low skill jobs is that some of them are highly-skilled.

>>1059711
>>1059676

and here we have your typical wanna be "end the fed" shithead, who watched a video on youtube and think that a central banking system doesn't work

>>1059742
>highly skilled-low skilled jobs
huh.jpg
in america being a teen living within your means = poor. I can buy a $7,000 car no prob. but no credit. :(

>>1059749
lol here's some fool who thinks unaccountable jews should control our money supply.

>>1059773

do you actually think anyone is going to take an argument like that seriously, outside of a bar in texas?

>>1059785
If you cannot recognize the truth, you are a fool.

>>1059749
It doesn't, What all the socialist fags condemn as the failure of capitalism is the failure of central banking.

>Work at wal-mart (lawl lay-offs are fun ~_~)
>17 year-old nigger talks about how he "bought" an '09 Dodge Avenger
>Ask him how he managed to afford that
>He took out a 5 year loan while making minimum wage
>Looks at me like I'm retarded when I tell him that was a horrible idea

Anyone who takes out a loan on a car simply should not have that car. The odds are overwhelmingly against you that someone is going to go wrong with the car before you're done paying it off, be it an accident, engine trouble or what have you. As soon as something goes wrong, then you have another expense to pay, on top of the money that's already being drained out of you from that shitty loan plus the insurance, which probably isn't too good if you have to take out a loan to buy a fucking car.

tl;dr People shouldn't be allowed to have anything unless they can pay for it with cash up-front except houses.

>>1059890
Even if you have the money, if you can get a good rate, it may be advantageous to get the loan on the car instead of cash. If the dealer is financing you at 0%, you can take the money you would have spent on a lump sum for the car, invest it, and come out ahead on the bottom line.

ITT: People dumb enough to think simple consumer borrowing actually collapsed the economy.

>>1059769
I'll give you two examples

Ambulance driver: You have to drive fast and at the same time careful you don't crash your veihcile to get to the scene of the accident or to harm the paient further.

Child Daycare: You have to put up with children all-day every day.

These service industries actually pay at minimum wage in the US because they are private industries.

Want more?

Well, this goldfag agrees that a burst in the credit market is definitely what caused the recession. But the whole lets print more money as a response is eventually going catch up with everyone.

Buy Gold!

>>1059922
>Child Daycare
>Highly skilled

Just because you're a nigger and like so many of your brethren you can't control your children, doesn't mean that civilized human beings cannot rear their children properly. GTFO

>>1059890
Well. You don't quite understand, that a lot of times the car sellers give you fantastic rates which mean you should ALWAYS take them.

When it's far below inflation and normal interest, then it's a loss of money to pay things off right away.

However, you must understand that niggers are sub-human apes who don't understand how money and complex things like that work.

>>1059922
>These service industries actually pay at minimum wage in the US because they are private industries.
Child daycare workers and ambulance drivers get minimum wage?
Are you crazy?

Women are biologically programmed to care for children. Why does that position deserve more than minimum wage again, when any female can do it adequately from about age 12?

>>1059938
>implying that I'm a black person you racist pig.

>>1059964
If you want to learn more, read the book "The Betrayal of Work", there's lot a fascinating shit that you will be surprised with.

>>1059925
Or buy something that's actually useful.

Me? I buy oil. I have about 100 barrels stored, just waiting for the collapse where i will get filthy rich.

>>1059964
I know some daycare workers do make minimum wage and EMT's are lucky to make more than $10 hourly, some Paramedics make as much as $25 hourly, but most don't.

>>1059977
>Women are biologically programmed to care for children.

Women are biologically program to give birth for children, but they are socialized to care for children the same way as men are socialized to care for children.

>>1059992
I hope for your sake it is light sweet.

>>1059992

Do you watch It's Always Sunny In Philadelphia?

>>1060000
>denying biological truth