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Old 09-29-2008, 02:27 PM
 
Location: Wantagh NY
690 posts, read 909,400 times
Reputation: 142

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Glen Beck is in full panic mode on CNN! The great depression is going to start NOW! He is acting like the world is about to end...!

The more I think about this bail out, the more I say I am glad it didn't pass! Let these big wigs fail. Yes it will be hard on us but we will survive...
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Old 09-29-2008, 02:30 PM
 
Location: USA
16,822 posts, read 8,650,460 times
Reputation: 12689
Quote:
Originally Posted by Cleanmaxx Brian View Post
Glen Beck is in full panic mode on CNN! The great depression is going to start NOW! He is acting like the world is about to end...!

The more I think about this bail out, the more I say I am glad it didn't pass! Let these big wigs fail. Yes it will be hard on us but we will survive...

This is where Glen Beck and I part company. I like him for the most part, but he has USED this financial crisis as sensationalism to promote himself. The sky is not falling! We are not broke, we have the greatest wealth in the world.
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Old 09-29-2008, 02:34 PM
 
Location: Boise
4,425 posts, read 5,262,834 times
Reputation: 1695
Problem is our economy since the industrial revolution has slowly moved away from producing and more towards capital investment. We are now a service oriented market and we offshore jobs where people Create something or build something. We've been the capital investment market of the world and we've screwed things up. What kind of message is that sending to the world? what happens when they stop investing in our capital markets and pull all that money out? we're left with a huge black hole of investment.. and an economy that doesn't produce anything anymore. The companies that still do produce things here are the ones in trouble.. auto plants, semiconductor manufacturers.. etc..
I don't think the sky is falling.. but the stage is being set for very nasty possibilities if we don't get a grasp of the entire issue
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Old 09-29-2008, 02:46 PM
 
Location: TwilightZone
5,296 posts, read 5,186,050 times
Reputation: 1031
Quote:
Originally Posted by Pilot1 View Post
This is where Glen Beck and I part company. I like him for the most part, but he has USED this financial crisis as sensationalism to promote himself. The sky is not falling! We are not broke, we have the greatest wealth in the world.

Speak for yourself
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Old 09-29-2008, 02:48 PM
 
3,144 posts, read 7,333,789 times
Reputation: 876
Quote:
Originally Posted by boiseguy View Post
Problem is our economy since the industrial revolution has slowly moved away from producing and more towards capital investment. We are now a service oriented market and we offshore jobs where people Create something or build something. We've been the capital investment market of the world and we've screwed things up. What kind of message is that sending to the world? what happens when they stop investing in our capital markets and pull all that money out? we're left with a huge black hole of investment.. and an economy that doesn't produce anything anymore. The companies that still do produce things here are the ones in trouble.. auto plants, semiconductor manufacturers.. etc..
I don't think the sky is falling.. but the stage is being set for very nasty possibilities if we don't get a grasp of the entire issue
Right on!

Rebuild Detroit, Flint, Cleveland, Buffalo, Milwaukee, Philadelphia... etc.!!!!

I am glad to see businesses finally coming back to here in Rochester, not all the same businesses that were once here but new high-tech businesses are starting to move in. Rochester is hometown for Kodak, Xerox, Bausch and Lomb and many others. AC-Delco made all of their electric accessories here at one time but moved away, Xerox is disappearing as well...

Its time to bring back American manufacturing like it once was! Glad to see GM is opening a new 500k sq/ft facility in Flint for small block engines.
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Old 09-29-2008, 02:51 PM
 
2,775 posts, read 2,818,279 times
Reputation: 2979
Quote:
Originally Posted by Cleanmaxx Brian View Post
Glen Beck is in full panic mode on CNN! The great depression is going to start NOW! He is acting like the world is about to end...!

The more I think about this bail out, the more I say I am glad it didn't pass! Let these big wigs fail. Yes it will be hard on us but we will survive...
Beck is always panicking... nothing new there. I used to like him but listening to him is even more depressing than the normal daily news. He has the tendency to be incredibly pessimistic about any situation; sometimes it is warranted, mostly it is not.
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Old 09-29-2008, 02:53 PM
 
12,870 posts, read 13,108,199 times
Reputation: 4453
Quote:
Originally Posted by boiseguy View Post
Problem is our economy since the industrial revolution has slowly moved away from producing and more towards capital investment. We are now a service oriented market and we offshore jobs where people Create something or build something. We've been the capital investment market of the world and we've screwed things up. What kind of message is that sending to the world? what happens when they stop investing in our capital markets and pull all that money out? we're left with a huge black hole of investment.. and an economy that doesn't produce anything anymore. The companies that still do produce things here are the ones in trouble.. auto plants, semiconductor manufacturers.. etc..
I don't think the sky is falling.. but the stage is being set for very nasty possibilities if we don't get a grasp of the entire issue
there is no reason that we cannot go back to producing. we can start by producing our own energy, made in america. we have so many resources available and we just need to get started. we can extend mortgage lengths to keep people in their homes. also, remember the taxpayers have just funded an auto bailout. somebody better keep track of that money! if we get back on course, other countries will be happy to invest.
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Old 09-29-2008, 02:53 PM
 
472 posts, read 786,308 times
Reputation: 153
Quote:
Originally Posted by Pilot1 View Post
This is where Glen Beck and I part company. I like him for the most part, but he has USED this financial crisis as sensationalism to promote himself. The sky is not falling! We are not broke, we have the greatest wealth in the world.
And we carry the largest debt of any nation in the world. If anyone doesn't believe they would be untouched by a full on collapse of our economy they are living in a dream. American business is run on extended credit. If my company were no longer able to borrow credit it borrows from banks to manage payroll operational costs and to extend credit directly to accounts (net terms) we would not last that long in business.

I'm not a fan of Glenn Beck... and I disagree with the details of this bill. but there is some truth in the seriousness of this crisis. Remember... ignoring this crisis and pretending that the 'fundementals of our economy' were fine, is what has contributed to our current mess. For years the administration has been asleep at the wheel... no one, on Main St or Wall St should be napping during this crisis.
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Old 09-29-2008, 02:57 PM
 
124 posts, read 227,075 times
Reputation: 55
Quote:
Originally Posted by Pilot1 View Post
This is where Glen Beck and I part company. I like him for the most part, but he has USED this financial crisis as sensationalism to promote himself. The sky is not falling! We are not broke, we have the greatest wealth in the world.

no do not confuse debt with wealth
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Old 09-29-2008, 03:02 PM
 
563 posts, read 800,493 times
Reputation: 253
Does anyone have a link to the nays and yeas? I looked around but couldn't find? I want to start working on my list of those that voted yes. This term should be their last.
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