700 Billion Dollar Bailout

Discussion in 'Politics' started by JustBlazeMI, Sep 22, 2008.

  1. I'd like to hear what folks think of the presidents sudden urge to fork over $700 billion dollars to Wall St. to supposedly prevent a full out financial meltdown.
     
    • Like Like x 1
  2. It must be done, but the part where he asks for no oversight at all of where the money goes screams corruption. It's the right idea with the wrong specifics.
     
  3. i think a complete economic shut down is what we need. i wish there was a good enough reason to go live in a small self sufficient community, but as long as the system is in place I'm stuck until morpheus comes with the red pill.
     
    • Like Like x 1

  4. [​IMG]
     
  5. Seconded.
     

  6. What exactly do you mean by economic shutdown?


    Is that implying that you think I'm wrong or that it's sad that I'm right? :)
     
  7. It's sad that you think we should risk hyper-inflation for the sake of reckless and stupid investors in our financial markets.

    Why?

    These are the people that benefited the most from the Federal Reserve's destruction of our economy, and now they won't go down with the rest of the ship?
     
  8. great... they said, they goin tax us more! for bailing us out
    fucking bullshit!!
     

  9. Well, like I've said before, this is definitely not one of my areas of expertise, so I may be wrong. But my understanding is that if we let these companies go bankrupt, it's going to hurt not just them but Americans in general, much more than $700 billion more debt. They're too important to our economy to allow them to implode. I understand hating the idea of rewarding these companies that set themselves up for disaster and all the while continued to give their CEOs enormous bonuses. It makes you want to hate corporations. But I still think the average American would be hurt more with their destruction than with the extra debt.
     
  10. I think it will be a huge disaster. Is an investment supposed to be a risk or not? :confused:

    Here's a thought; why don't we drill for our own oil and natural gas, creating new jobs, and put it on the world market so we can work our way out of this mess? :smoking:

    [​IMG]

    [​IMG]

    This is capitalism on the way up and socialism on the way down.
     

  11. First pic: is the Che poster what you have a problem with?
    Second pic: what?

    Text: drilling for a small amount of oil that will reach the market in a decade to fix wall street... You're an idea man fa show.
     
  12. mccain said, he want congress to act now so we can get the money,
    while obama said, no we should not, we can fix this problem without bailing us out

    well i gotta agree with obama, there is always a way to fix things without bailing us out with more money,
     
  13. Thats the probelm with this Government-intervining Capitalism. If they just let things run there course like true Capitalism, then we wouldn't need this bailout. Nice to know my taxes are here to help make sure Freddie Mac and Fannie Mae can keep their 401k, after their company goes down...... Fuck that, let it run its course, let them go down, survival of the fittest, right?..... guess not.
     

  14. :D


    With an already incredibly weak dollar, an infusion of $700 billion dollars out of thin air will lead to a further international mistrust in the dollar, inflation and a sharp increase in interest rates.

    I know its hard to conceptualize long term, but which is worse:
    - The markets collapse today, cleansing itself of bad debt. The dollar maintains its relatively weak position, but we can change fiscal policy so as not to encourage another credit-boom of malinvestment, and eventually increase trust in the dollar.
    or
    - The dollar collapses tomorrow, complete chaos ensues. The world no longer trades with us and the middle class is completely obliterated due to holding mostly liquid assets.


    There are already talks around the world of dumping the dollar... the effects of that are far worse than allowing Wall Street to go down. I know you hear this is a bailout for "main street", but they aren't thinking 5 or 10 years down the road.
     

  15. How exactly did the government's meddling cause this, in your opinion? Because most economists tell you this is the least government has meddled in the market in quite a while. So I'm just kind of confused as to your logic behind your post.
     

  16. That is a complete lie! :rolleyes:
     
  17. Doesn't RP deserve some credit for predicting all this years ago?

    The GSE Crisis


    It was the moral hazard of knowing that the government would bail them out that encouraged banks to use the lending practices they did.
     
  18. Yes. But I think absolute deregulation would lead to this again, which is what he believes in, yeah? Wouldn't deregulation allow banks to keep being reckless and whatnot?

    Well that makes it sound like option two kinda sucks.
     
  19. yay! i finally got it right :rolleyes:
     
  20. that is true..
    china is doin that right now, getting rid of american money
    there a link somewhere i forgot
     

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