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This may be obvious, but if he is a billionaire investor now and the recession gets worse, he stands to gain a lot more wealth through investing when others don't have the ability to.
Just because he is rich doesn't mean he is not telling the truth. He has a good grasp of real economic theory and understands this problem and what needs to be done to restore confidence in the markets so capital will start flowing. You are correct that he will be able to take advantage of this but that doesn't mean he is mis-informing us. If you actually go through what he is saying, it is sound advice imho.
ok, so what if we spend the $700 billion and we wind up with 10 years of stagnation ala Japan...is that what people want? We have been trying to avert a recession forever, 2001 with tech and then 2003 with housing, we just HAVE to let the market adjusts, we cannot cover up the problem by printing up more money and pumping it into the system...that is just going to postpone the problem again, just like with what we did to housing in '03 which is why we are at d-day now again. If we do not let the adjustment take it's course now, then a couple yrs from now we will be facing another similar situation, the markets are already very inflated and they need to correct.
This may be obvious, but if he is a billionaire investor now and the recession gets worse, he stands to gain a lot more wealth through investing when others don't have the ability to.
that would be true if he is right which he is. But for him to make money that means in the long run no bailouts are better for all of us.
ok, so what if we spend the $700 billion and we wind up with 10 years of stagnation ala Japan...is that what people want? We have been trying to avert a recession forever, 2001 with tech and then 2003 with housing, we just HAVE to let the market adjusts, we cannot cover up the problem by printing up more money and pumping it into the system...that is just going to postpone the problem again, just like with what we did to housing in '03 which is why we are at d-day now again. If we do not let the adjustment take it's course now, then a couple yrs from now we will be facing another similar situation, the markets are already very inflated and they need to correct.
I agree 100%. Let's take our lumps now so we can get it overwith. Otherwise, in a few years, we'll be facing an even bigger "crisis".
This may be obvious, but if he is a billionaire investor now and the recession gets worse, he stands to gain a lot more wealth through investing when others don't have the ability to.
He is "done" with the USA. Even sold his place in NYC and moved to Singapore. He's been screaming about getting out of US investments and the dollar for a long time now.
that would be true if he is right which he is. But for him to make money that means in the long run no bailouts are better for all of us.
I personally would rather see asset prices fall to match purchasing power than deal with runaway inflation and a lack of confidence in the system. We do these interventions and people will lose faith that we have a regulated free market.
P.S. Before you jump on me, yes I believe there is some prudent regulation that is lacking. Lets take each problem one step at a time.
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