Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've kind of noticed that most people who're arguing against the bailout seem to go back to the same point in the end which is "what is this going to do to or cost ME?" It seems that those that are for letting everything fail and risking a meltdown may have good intentions and are kind of right in saying going through detox would be the perfect way to fix things. The problem is allowing the market to fail has serious unintended consequences and depending on how bad it fails could have major consequences but no one knows how bad it'll get.
Understand, there's many here (by here I mean in this country) from other contries that'd love to see us go through a massive failure, anything to bring down the cocky americans!!! Those are the ones who are gleefully shouting "let it fail" along with the citizens who want this government to fail just because they want it to fail. Then there are those who have a puritan view of the situation (like Ron Paul IMO) and in a perfect world they'd be quite right in the "let it fail" view but it's far from a perfect world.
I spent last night thinking about the big picture and the things people may be overlooking and what kind of keeps me awake is a few rather large groups of people that will be affected very negatively if this bailout doesn't happen and we have a huge failure. One example is our rather large and growing retired population who have worked all their lives and are at the end of their earning potential who DEPEND on various investments to survive. What about them? These are not "fat cat" bankers and stock brokers but regular people who've done the right thing all their lives and stand to lose everything if the worse case happens. This failure stands to take away everything they depend on. They can't sell their house for money, not only has it dropped in value but no one will lend money to buyers. They most likely would lose many investments due to bankruptcy of the companies and those that remained would dump their dividend or be almost worthless. Also don't forget about their savings. Yes most are FDIC insured but only to $100k per account PER BANK and there's not that many banks left to spread it around to so what then?
Let's not even mention foriegn investors will RUN from this country in droves driving it further into the ground.
So yeah I guess to heck with the millions of people who've paid taxes all their lives and worked to give the people younger than them the oppertunity to be where they are today, and just think about yourselves and the perfect world where the free market rules this issue. The world is not perfect and we're facing a financial sunami that has never been seen before.
All I'm suggesting is take a step back and think about everyone that'll be affected if we just let the free market take care of this.
If I believed they were all in a grand scheme to defraud the people with this then I guess I'd also have to believe that there are concentration camps waiting for amercians to be placed in them, that the government is about to declare martial law and that they are listening to us talk through my shut off tv.
Do I think there was some serious mis-management that got us here?
Hey genius you do realize this is EXACTLY why the Federal Reserve was created dont you?
You are so gullible it would actually be funny if so many idiots didn't think just like you.
Lets just artifically prop up prices and businesses forever, no way that fails.
I've kind of noticed that most people who're arguing against the bailout seem to go back to the same point in the end which is "what is this going to do to or cost ME?" It seems that those that are for letting everything fail and risking a meltdown may have good intentions and are kind of right in saying going through detox would be the perfect way to fix things. The problem is allowing the market to fail has serious unintended consequences and depending on how bad it fails could have major consequences but no one knows how bad it'll get.
Understand, there's many here (by here I mean in this country) from other contries that'd love to see us go through a massive failure, anything to bring down the cocky americans!!! Those are the ones who are gleefully shouting "let it fail" along with the citizens who want this government to fail just because they want it to fail. Then there are those who have a puritan view of the situation (like Ron Paul IMO) and in a perfect world they'd be quite right in the "let it fail" view but it's far from a perfect world.
I spent last night thinking about the big picture and the things people may be overlooking and what kind of keeps me awake is a few rather large groups of people that will be affected very negatively if this bailout doesn't happen and we have a huge failure. One example is our rather large and growing retired population who have worked all their lives and are at the end of their earning potential who DEPEND on various investments to survive. What about them? These are not "fat cat" bankers and stock brokers but regular people who've done the right thing all their lives and stand to lose everything if the worse case happens. This failure stands to take away everything they depend on. They can't sell their house for money, not only has it dropped in value but no one will lend money to buyers. They most likely would lose many investments due to bankruptcy of the companies and those that remained would dump their dividend or be almost worthless. Also don't forget about their savings. Yes most are FDIC insured but only to $100k per account PER BANK and there's not that many banks left to spread it around to so what then?
Let's not even mention foriegn investors will RUN from this country in droves driving it further into the ground.
So yeah I guess to heck with the millions of people who've paid taxes all their lives and worked to give the people younger than them the oppertunity to be where they are today, and just think about yourselves and the perfect world where the free market rules this issue. The world is not perfect and we're facing a financial sunami that has never been seen before.
All I'm suggesting is take a step back and think about everyone that'll be affected if we just let the free market take care of this.
you damn right i'm pissed that it's going to cost me. i'm pissed it's going to cost me and it WILL NOT WORK!!!!
you keep coming back with arguments about senior citizens losing their pensions, disabled losing their insurance etc. my point is that at some point that's going to happen anyway with the bailout or not.
when this happens, senior citizens better pray that they were good to their kids because that's where they're going to be living. parents better set a good example for their kids to follow. some kids will actually be brought up by their own parents instead of being palmed off on paid childcare. the toys, video games and malls will dry up and kids are going to have to learn to pull their weight around the house. some of the brains that gravitated to wall street might re-train and fill the obvious shortages in education, medical dental etc.
many people will lose their homes. these homes will be snapped up at auctions for next to nothing. whoever buys this stuff will have to live in it or rent it out. rental rates will drop considerably so those people will be rehoused. hoa rules will go out the window and people will have a little veg garden and they might even use the ghastly washing line. the fancy packaging which we buy and flagrantly chuck away will disappear. we will start to be a little more frugal in how we use energy.
people will have to walk and cycle as opposed to just driving everywhere. result= less obesity, heart disease, diabetes etc in addition to less polution.
we also might be a little less inclined to believe in the disneyland pension scheme ideals that the baby boomers bought into.
so excuse me for trying to put a positive spin on this but i think our moral health, our physical, environmental, social and economic health needs this correction.
The biggest question is why should the government buy overvalued assets? If anything is illiquid it means it is overpriced! Like the house where it is for sale for 350,000.00 while the market value is closer to the 2000 price of 135,000.00. The only way to increase the value of these mortgage insecurities is to buy them at discounted rates. If the Government buys them they will have to hyperinflate the currency to raise the value of those properties. Meanwhile dollar holders tired of losing value start dumping dollars on the market. We all lose then. SO the alternative of letting the market price this toxic debt is preferable. The government should focus on increasing the value of the dollar, so more competitive smaller business can thrive.
I'm getting a little pissed the way the government is trying to frightened, bully, and con people into supporting this bailout. I got news for you folks, this bailout is for the banks, not the citizens of this country. It is giving money to the banks and their CEOs, and it is TAKING money from our pensions and social security and future. Welcome to the new Oligarchy.
I'm getting a little pissed the way the government is trying to frightened, bully, and con people into supporting this bailout. I got news for you folks, this bailout is for the banks, not the citizens of this country. It is giving money to the banks and their CEOs, and it is TAKING money from our pensions and social security and future. Welcome to the new Oligarchy.
If the Bush administration didn't do anything or really push it, that would just give the Dem's ammo stating that the Republicans did nothing to prevent this. Remember, we live in a society now a days were people expect the government to fix everything so we can live our posh lifestyles with disregard to taking responsibility for our own actions.
And for those stating what happens to people's pensions or insurance if some of these companies fail, remember the saying "there are NO guarantees in life except taxes and death." Life sucks at times but bad things can happen to good people and unfortunately the real people that should pay for this mess won't.
I've kind of noticed that most people who're arguing against the bailout seem to go back to the same point in the end which is "what is this going to do to or cost ME?" It seems that those that are for letting everything fail and risking a meltdown may have good intentions and are kind of right in saying going through detox would be the perfect way to fix things. The problem is allowing the market to fail has serious unintended consequences and depending on how bad it fails could have major consequences but no one knows how bad it'll get.
Understand, there's many here (by here I mean in this country) from other contries that'd love to see us go through a massive failure, anything to bring down the cocky americans!!! Those are the ones who are gleefully shouting "let it fail" along with the citizens who want this government to fail just because they want it to fail. Then there are those who have a puritan view of the situation (like Ron Paul IMO) and in a perfect world they'd be quite right in the "let it fail" view but it's far from a perfect world.
I spent last night thinking about the big picture and the things people may be overlooking and what kind of keeps me awake is a few rather large groups of people that will be affected very negatively if this bailout doesn't happen and we have a huge failure. One example is our rather large and growing retired population who have worked all their lives and are at the end of their earning potential who DEPEND on various investments to survive. What about them? These are not "fat cat" bankers and stock brokers but regular people who've done the right thing all their lives and stand to lose everything if the worse case happens. This failure stands to take away everything they depend on. They can't sell their house for money, not only has it dropped in value but no one will lend money to buyers. They most likely would lose many investments due to bankruptcy of the companies and those that remained would dump their dividend or be almost worthless. Also don't forget about their savings. Yes most are FDIC insured but only to $100k per account PER BANK and there's not that many banks left to spread it around to so what then?
Let's not even mention foriegn investors will RUN from this country in droves driving it further into the ground.
So yeah I guess to heck with the millions of people who've paid taxes all their lives and worked to give the people younger than them the oppertunity to be where they are today, and just think about yourselves and the perfect world where the free market rules this issue. The world is not perfect and we're facing a financial sunami that has never been seen before.
All I'm suggesting is take a step back and think about everyone that'll be affected if we just let the free market take care of this.
no what im saying is that not only is this bailout stupid for incentivizing bad behavior but in the LONG RUN we will all be much worse off as it delays the inevitable making it much worse when it hits
But keep drinking the govt cool aid
Well the up side to this whole bunch of being pissed and insulting each other is it really doesn't matter much. The bailout WILL happen in some fashion whether you like it or not.
Unfortunately those that have been in power for the last 10 years or so have let the pigs run amok and now WE are going to pay for it. Remeber to quote Joe Biden "it's the patriotic thing to do"
Hopefully the people (on main street) who would've been actually deeply affected by a crash that would've brought y'all so much joy will be protected through all of this and won't be sitting in soup lines or depending on your wonderful generousity and caring.
Remember, it's only YOU that matter!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
