Really Confusing
-
martin_hughes wrote:
There's no way the US tax payer should be bailing out those corrupt, greedy, two-faced twats who caused the problem in the first place.
I agree, ideally "those corrupt, greedy, two-faced twats" should be prosecuted, sent bankcrupt then hung drawn and quartered. As satisfying as this would be (and it would be good if it was pursued at some stage) you would then have a banking system still crippled by bad debt and unable / unwilling to finance the normal business operations of the economy. However, as no-one is talking about any sort of tax increase to start to pay for the bail out, it seems to me that it is not the current US taxpayer that will foot the bill, but rather the administration seems to be doing what it did for the Iraq war - leave it for their kids to pay off.
Peter "Until the invention of the computer, the machine gun was the device that enabled humans to make the most mistakes in the smallest amount of time."
The real question is what would happen if the economy "fails". Will nuclear missiles suddenly launch? Will aliens suddenly descend from the heavens to take control? Will the Chinese suddenly roll across every available air, water and land space? Is mankind, de facto, wiped from the face of the Earth? "No" is the answer, so let it fail. Money is a fiction which means nothing. It's time for a new economy.
-
Oakman wrote:
He like to gamble and does so
Oh, I've know that from being one of his constitutes. But, this is a heck of a play he is making.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
Chris Austin wrote:
But, this is a heck of a play he is making
Yep. And he has an amazing record of coming up a winner. I don't know how he pulls it off. Obama apparently has come out with a "me, too" statement and redefined their differences as to being only about the debate.
Jon Smith & Wesson: The original point and click interface
-
The real question is what would happen if the economy "fails". Will nuclear missiles suddenly launch? Will aliens suddenly descend from the heavens to take control? Will the Chinese suddenly roll across every available air, water and land space? Is mankind, de facto, wiped from the face of the Earth? "No" is the answer, so let it fail. Money is a fiction which means nothing. It's time for a new economy.
-
Chris Austin wrote:
Neither McCain or Obama are experts on the economy or members of the key finical committees here so I don't see the importance of them going to washington to politicize the necessary debate on this bail out.
I'll remind you that they're paid to be senators. As of this minute, 3 of 99 Kennedy is out of the loop) are traveling around the country telling us how well they'll lead. Words. Just words. But the headlines, "Once in a century financial crisis" sort of put it into perspective.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
Mike Gaskey wrote:
As of this minute, 3 of 99 Kennedy is out of the loop) are traveling around the country telling us how well they'll lead. Words. Just words.
What do you expect from democrats or republicans...its all the same.
Mike Gaskey wrote:
But the headlines, "Once in a century financial crisis" sort of put it into perspective.
And Gustav was "The mother of all storms." Bottom line, I want to see this addressed by these politicians in the open. And, the last thing I want is for a trillion dollar loan made by us, our children, and their children to be rushed in a few days. Again, what is stopping these two politicians from flying out to the debate and flying back? How much time would they really lose in DC? 12 hours tops?
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
-
Chris Austin wrote:
But, this is a heck of a play he is making
Yep. And he has an amazing record of coming up a winner. I don't know how he pulls it off. Obama apparently has come out with a "me, too" statement and redefined their differences as to being only about the debate.
Jon Smith & Wesson: The original point and click interface
Oakman wrote:
Yep. And he has an amazing record of coming up a winner. I don't know how he pulls it off.
The electorate is stupid.
Oakman wrote:
Obama apparently has come out with a "me, too" statement and redefined their differences as to being only about the debate.
Thats sums up the entire presidential campaign for me from both candidates.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
-
Neither Obama or McCain want to be the purveyors of a $1 Trillion tax bill. They're both shitting their pants at the prospects... and they should be. There's no way the US tax payer should be bailing out those corrupt, greedy, two-faced twats who caused the problem in the first place.
martin_hughes wrote:
Neither Obama or McCain want to be the purveyors of a $1 Trillion tax bill.
Either way it's out of their hands and their legacy will be that having to raise taxes due to at least 8 years of fiscal lunacy from congress and the white house.
martin_hughes wrote:
There's no way the US tax payer should be bailing out those corrupt, greedy, two-faced twats who caused the problem in the first place.
I agree....let it fail.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
-
The real question is what would happen if the economy "fails". Will nuclear missiles suddenly launch? Will aliens suddenly descend from the heavens to take control? Will the Chinese suddenly roll across every available air, water and land space? Is mankind, de facto, wiped from the face of the Earth? "No" is the answer, so let it fail. Money is a fiction which means nothing. It's time for a new economy.
Martin, you know as well as I that if the supply of money dries up, or becomes valueless, then the fabric of our society as we know it also fails because it loses the concept of value and thus huge foreclosures and mass unemployment that may make the 1929 Depression seem as a side-show. Money as such would lose all value as their is insufficient gold and silver on deposit to cover the face value of such bank notes. Massive amounts of unserviceable debt is what is killing our society today. What would you like to see replace money? Perhaps a form of bartering? Perhaps everybody should carry around with them some form of Bullion?
-
Chris Austin wrote:
Anybody else have a take on this one?
Yes. John Sidney McCain and Barack Hussein Obama ARE PAID TO BE SENATORS and not presidential campaigners. We have what has been billed as a financial crisis of epidemic proportions and McCain is showing leadership because the process is stalled in congress, so much so that the President is going to address the nation tonight to address it.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
Mike Gaskey wrote:
We have what has been billed as a financial crisis of epidemic proportions ... the process is stalled in congress
Which is exactly where it should be. This bailout is a non-starter. Fiscal conservatives know this.
-
Chris Austin wrote:
Anybody else have a take on this one?
Yes. John Sidney McCain and Barack Hussein Obama ARE PAID TO BE SENATORS and not presidential campaigners. We have what has been billed as a financial crisis of epidemic proportions and McCain is showing leadership because the process is stalled in congress, so much so that the President is going to address the nation tonight to address it.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
The more I read about it, the more I think it's less a case of financial crisis and more financial crisis precipitated by mass fraud.
...that mortally intolerable truth; that all deep, earnest thinking is but the intrepid effort of the soul to keep the open independence of her sea; while the wildest winds of heaven and earth conspire to cast her on the treacherous, slavish shore.
-
I just came across this article[^] about McCain supposedly suspending his campaign for President. It's easy to see the political play he is making but I still find it confusing that he would take such a risk when he has managed to keep the race so close. Anybody else have a take on this one? Has a candidate ever requested to delay or cancel a debate this close to an election?
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
It's obviously a political play, IMO, but a good one for McCain. They're both Senators, paid to represent their constituents and propose and vote on legislation, and you'd think that on a bill of this much impact their vote should be on record as yea or nay. McCain should now be there for the vote, and unless Obama changes his mind, won't be. I think that that in itself plays well with the American people in McCain's favor.
-
Martin, you know as well as I that if the supply of money dries up, or becomes valueless, then the fabric of our society as we know it also fails because it loses the concept of value and thus huge foreclosures and mass unemployment that may make the 1929 Depression seem as a side-show. Money as such would lose all value as their is insufficient gold and silver on deposit to cover the face value of such bank notes. Massive amounts of unserviceable debt is what is killing our society today. What would you like to see replace money? Perhaps a form of bartering? Perhaps everybody should carry around with them some form of Bullion?
Richard A. Abbott wrote:
What would you like to see replace money? Perhaps a form of bartering? Perhaps everybody should carry around with them some form of Bullion?
While I agree that money is useful as a means to facilitate trade, the current system is not and no system whose foundation is based on credit (or should that be debt) ever will be. The current "crisis" is the reward for years of unchecked greed and corruption. The whole sub-prime fiasco, for example, is nothing more than a complete fraud; at some point in recent history some financier made the mistake of lending money to someone he knew was incapable of repaying it. Did he chalk it up to experience and write off the bad loan at that point? Nope, he tarted the bad debt up and sold it on as a sound investment, and guess what? Somebody bought it off him, so he thinks to himself "Wow! That as easy, I wonder if I can do it again?". What a wheeze. The entire stinking edifice needs to be swept away and the bogeyman of the "Great Depression" be damned. Currency must be issued, controlled and strictly regulated by Government. If it is left in the hands of the corrupt and the greedy then the "Even Greater Depression" will be inevitable.
-
Richard A. Abbott wrote:
What would you like to see replace money? Perhaps a form of bartering? Perhaps everybody should carry around with them some form of Bullion?
While I agree that money is useful as a means to facilitate trade, the current system is not and no system whose foundation is based on credit (or should that be debt) ever will be. The current "crisis" is the reward for years of unchecked greed and corruption. The whole sub-prime fiasco, for example, is nothing more than a complete fraud; at some point in recent history some financier made the mistake of lending money to someone he knew was incapable of repaying it. Did he chalk it up to experience and write off the bad loan at that point? Nope, he tarted the bad debt up and sold it on as a sound investment, and guess what? Somebody bought it off him, so he thinks to himself "Wow! That as easy, I wonder if I can do it again?". What a wheeze. The entire stinking edifice needs to be swept away and the bogeyman of the "Great Depression" be damned. Currency must be issued, controlled and strictly regulated by Government. If it is left in the hands of the corrupt and the greedy then the "Even Greater Depression" will be inevitable.
martin_hughes wrote:
based on credit (or should that be debt)
Debt - huge unserviceable quantities of the stuff.
martin_hughes wrote:
bogeyman of the "Great Depression" be damned
Yes, but that lesson from history was probably not learned very well thus the present financial pain that will be felt for the foreseeable future is the result.