Please take this seriously. They are trying to get this bailout bill passed by Mon or Tuesday. If we dont call our congressman or email and tell them not to vote for this bill or will not vote for them. This is going to make us a socialist society and have devastating effect on our economy long term. This will effect our kids our grandkids and our great grandkids. We cannot afford this bailout as a country. I can go into more about this but it is serious. Here is a link to contact them. http://www.visi.com/juan/congress/ If you care about our country and your kids furture please tell them if they vote for this you will not vote for them next election.
1. We dont have the money. Therefore they will just print more money that we do not have the assets to back. Which in turn devalues the dollar which if we continue will be worth about as much as a peso.
2. The government will own majority of the financial services sector. Which we will essentially nationalize the financial services industry.
3. We do this then are we not going to bailout the auto industry and the airline industry which we cant afford. This is what socialist countries and communist countries do. If we are a free market as we say we are companies fail for being stupid and that is essentially what we were as a nation.
Does that make sense. We do this and or financial system will eventually fail. I.E. Great Depression, Jmmy Carter, or The fall of the USSR (Russia). It will probably be a mixture of 03.
2. The government will own majority of the financial services sector. Which we will essentially nationalize the financial services industry.
3. We do this then are we not going to bailout the auto industry and the airline industry which we cant afford. This is what socialist countries and communist countries do. If we are a free market as we say we are companies fail for being stupid and that is essentially what we were as a nation.
Does that make sense. We do this and or financial system will eventually fail. I.E. Great Depression, Jmmy Carter, or The fall of the USSR (Russia). It will probably be a mixture of 03.
Isn't this going to prevent a collapse though. No bailouts here would basically mean every other bank connected would suffer. The great depression happened b/c measures were not taken to prevent panic, no?
This is really all about keeping the little confidence the American people have for the financial system alive. Otherwise you have no investing and maybe even massive bank runs, and that would be an awful result.
I know this isn't the best situation in the world, but banks operate on confidence and if that doesn't exist, which it didn't two days ago, we would be in trouble.
This is really all about keeping the little confidence the American people have for the financial system alive. Otherwise you have no investing and maybe even massive bank runs, and that would be an awful result.
I know this isn't the best situation in the world, but banks operate on confidence and if that doesn't exist, which it didn't two days ago, we would be in trouble.
It is actually doing nothing but putting a bandaid on a blown out artery. It might work for a little bit but in the long run it is going to be a hell of a lot more painful. Yes people would panic and would put us in dissarray but in a free market which we are suppose to be this is how it is suppose to work and yes it would create mayhem. Do you want to take your medicine now or later and the pain be worse. I see it as the government gains more control we are losing freedoms.
I really don't believe it is putting a bandaid on a blown out artery. It would be worse for the whole world if the banks were allowed to collapse.
I understand where you are coming from, but you have to think about the people that can't recover from bank failure. The people that are getting ready to retire, which happens to be quite a few people here pretty soon. We'd probably end up paying for them.
I understand where you are coming from, but you have to think about the people that can't recover from bank failure. The people that are getting ready to retire, which happens to be quite a few people here pretty soon. We'd probably end up paying for them.
That is why america is great is because if we disagree we can all have an opinion. I gues we will have to wait and see. If the bill does pass it will put all the bad stuff off for at least 5 years. Why do you think it would be more expensive and how could it be more expensive than one trillion dollars
money market accounts were set to lose money they have always maintain a 1.00 value if the money markets would have collaspe it would of caused a big depression remember money markets are not FDIC insured it would have been a mad rush to the bank the goverment should of did this much sooner.
THE GREAT DEPRESSION LINK
http://www.thepatrioticgentleman.com/TheGreatDepression/TheGreatDepression2.html
CITIZENS AND CLOSED BANK - NATIONAL ARCHIVES
THE GREAT DEPRESSION LINK
http://www.thepatrioticgentleman.com/TheGreatDepression/TheGreatDepression2.html
CITIZENS AND CLOSED BANK - NATIONAL ARCHIVES
Want to help:
www.fedupusa.org
Want to learn why this is wrong:
http://market-ticker.denninger.net/archives/586-Welcome-To-The-USSA.html
http://market-ticker.denninger.net/archives/2008/09/18.html
http://market-ticker.denninger.net/archives/2008/09/17.html
They are just the beginning, go back through his archives. Karl has been calling this fiasco for almost 18 months now.
www.fedupusa.org
Want to learn why this is wrong:
http://market-ticker.denninger.net/archives/586-Welcome-To-The-USSA.html
http://market-ticker.denninger.net/archives/2008/09/18.html
http://market-ticker.denninger.net/archives/2008/09/17.html
They are just the beginning, go back through his archives. Karl has been calling this fiasco for almost 18 months now.
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You are correct that this country needs a good slap to wake us up, but I don't think people realize the effects a depression will have, not only from a financial standpoint but from a national security standpoint. During the late 20's and early 30's, we did not have the terrorist type risks we have today. Yes, the rise of the Nazi party in Germany began to pose a threat to the security of Europe in the early 30's (and as we learned it was a real threat), but IMO things are different today.
I think the bailout was a dumbshit idea too... we're all gonna pay >:\ We're gonna go into a depression for AT LEAST a year. Goodluck, win your bets.
I don't know why people think the bailout was even good? Good for the people who get to cash in for it--most of us won't get it--we'll be paying their tickets so to speak.
Those fags should all go down in flames like the rest of us do when we fuck up. I own a business and am over $10k in debt... that's not much but who the fuck bails me out? nobody.
I don't know why people think the bailout was even good? Good for the people who get to cash in for it--most of us won't get it--we'll be paying their tickets so to speak.
Those fags should all go down in flames like the rest of us do when we fuck up. I own a business and am over $10k in debt... that's not much but who the fuck bails me out? nobody.
