I really don't think this is a good idea. I lean left (but just slightly) on economic issues, but this just sounds bad all around. The following months are going to be very strange and scary.
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I think we can all agree that there was a free market failure (illegal and unscrupulous lending activities) and a governmental failure (Fed keeping interests rates too low for too long rather than just fighting inflation, in addition to ludicrous deficit spending which affected interest rates and the strength of the U.S. dollar).
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
| akuma587 said: I think we can all agree that there was a free market failure (illegal and unscrupulous lending activities) and a governmental failure (Fed keeping interests rates too low for too long rather than just fighting inflation, in addition to ludicrous deficit spending which affected interest rates and the strength of the U.S. dollar). |
Agreed. Sadly though, this bailout is needed. I hate it, it sucks, and its horrrid, but without it, the shit hits the fan even worse. We will be hit with the bill, I grant you, but we'd be hit even harder if not for it. I doubt there will be any tax lowering now, and in fact I support raising taxes with 700 billion more now on the books. this is a bad situation, but atm its not the end of capitalism. I think we missed that.
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NJ5 said:
I'm thinking this may have been the plan all along... Paulson was the CEO of Goldman Sachs. Now that he's in the government, he suddenly pursues an initiative which will grant him unlimited power to give away money to banks... Not even the Supreme Court can challenge this. Hello???
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I'm hoping that this has been planned all along - probably since the late 80s.
If not, then this move will not help but make things a lot worse.
And if it was planned then it was pure greed of capitalism. The Fed just wants to make money and they don't care who gets hurt along the way.
maybe there is a thing called "black box" filled with trillions of dollars.
I wonder how many 10x10 rooms the amount of $20 bills it would take to equal our national debt would fill...
We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls. The only thing that really worried me was the ether. There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke
It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...." Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson
there is a benefit to this plan. When the market is balanced the USA can sell what they bought for profit.
| ssj12 said: there is a benefit to this plan. When the market is balanced the USA can sell what they bought for profit. |
Government and Profit don't belong in the same sentence. Just saying...
| ssj12 said: there is a benefit to this plan. When the market is balanced the USA can sell what they bought for profit. |
Government can't make profit, but the Fed. Reserve can and I think they will.
Galaki said:
Government and Profit don't belong in the same sentence. Just saying... |
actually the USA has sold government substitutes or property for profit plenty of times.
ssj12 said:
actually the USA has sold government substitutes or property for profit plenty of times. |
That's "profit", not profit.
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