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BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
Well, that's it. If we pass this bailout bill, it will be monetized as debt. There is no way we can raise taxes enough to cover this amount. The Federal Reserve will just print more money and inflation will destroy what's left of the economy.
Again, rumors! People, do not add fuel to the fire and panic, donot believe any internet rumors until you see hard factual proof and do not make a run on banks, your money is fine!
It's called Carternomics or Stagflation and if your too young to remember it, it sucks!!! Tax and spend drives it, and the stage is set for Obama to preside over Carter's second term complete with a "misery index". There was a good reason Carter-Mondale carried only thier home states in 1980.
The Chinese are pulling our credit card? About time because we have not had a realistic way to pay them back for at least a decade or more. If I were the Chinese I would be demanding some form of actual value, instead of promises, like metals (copper, iron, etc), land (US National Forests) or industrial facilities in trade for the debt.
I would prefer that the Democrats, led by Obama, win this election on the general principal that they are not Republicans. On the other hand I would like the crash to happen on the Republican watch so we will be rid of them forever.
I am set against this piecemeal bailout because it only protects the few at the top of the heap while, one way or another, the rest of us will pay for the collapse. I prefer a sharp collapse that takes everybody down at the same time (including the Chinese and Middle Eastern economies). I have no desire to save the really wealthy from their folly.
If this collapse spreads world wide, as I expect it will, I’ll predict that only the northern Europeans with their socialized economic buffers will survive intact. They have enough wealth creating agriculture and industry, when combined with Russian oil and mineral resources, to create their own isolated and successful economy.
$10 billion / month on an un-needed Iraq war. We still have 2 yrs to go - yrs done. Cost for 9 years is a grand total of about $1 trillion, give or take. Now Bush wants $700 billion. SHOCK AND AWE is upon us from the warmongers!
It's time Americans quit living on their credit cards to begin with. Over spending above a person's budget is what got us in this mess to begin with. The theory of SAVING for what you want and paying for it in full when you purchase it is a lost art....and lost common sense.
It's time Americans quit living on their credit cards to begin with. Over spending above a person's budget is what got us in this mess to begin with. The theory of SAVING for what you want and paying for it in full when you purchase it is a lost art....and lost common sense.
Thankyou! This is in part America's fault as much as it is Wall Street's and Washington's. This is what we get for living beyond our means for decades now. The British government just admitted it to their people yesterday, or the day before I believe.
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It's called Carternomics or Stagfation.
