The US Economy 70Bn thing

[kevster]

Just heard that it's been rejected. So here's how it goes......

- The president and his economic aides "we really need to do this or the country is screwed".

- Some woman makes a speech before the vote about how important it is but also mentions "we'll have a new president soon and America's direction will change anyway"

- The republicans, that's THE REPUBLICANS all take umbrage at this and say "we don't like this snotty bitch's tone - we're going to reject the bill!"

Seriously, WTF????

[Fnord]

Main Street doesn't want to bail out Wall Street.
Renters don't want to bail out homeowners who bought at silly prices
Long time homeowner aren't keen on bailing out people who over-paid either.
Hard Core Caplitalists feel that not letting big firms fail is socialism and creates some major moral hazards.

The story that's being over-looked in all of this is the big loans that are going to be made to the big 3 automakers. Total bullshit and I'm from Detroit. Let those fuckers burn and someone else move into town.

[Jack Sawyer]

700

[badgers]

yeah you missed a 0 but don't worry you only missed 630 BILLION DOLLARS.

[wufwugy]

its a good thing the bill was rejected. bush and co are lying simply because they dont want a recession that looks like a recession. they want whats been happening for the last 30 years. inflation to keep us from thinking we're in recession.

what the bail out would do is give everybody more credit, but reduce the purchasing power of the dollar. this is worse, yet looks better since the people notice a lack of credit but not a reduction in the value of their dollar. the bail out not happening is good, but what will probably happen is that an equal amount of inflation will happen behind the scenes anyways just as it has been for a while.

you know gas isnt actually more expensive, it's that the dollar is weaker, so it looks like the oil issue is supply and demand. it's actually just purchasing power.

it's not a repub issue, clinton played his part in lying about money, and the dems are just as dumb on it as repubs. it's possible that if obama wins he may learn a thing or two about it and make the right moves, but just possible. too bad ron paul aint running independent because imo he would get a lot of attention now.

[Thunder]

You all do realise that the bail out will happen, don't you?

It has to. And it won't be allowed to not happen.

All thst is going on right now is mere posturing.

[spoonitnow]

You all do realise that the bail out will happen, don't you?

It has to. And it won't be allowed to not happen.

All thst is going on right now is mere posturing.

Probably but this possibility is rather interesting.

[SaulPaul]

heres an intersting article on it from the freaknomics blog:

http://freakonomics.blogs.nytimes.co...itics-collide/

cliff notes: 1) economists bewildered not happening
2) evidence suggests if this didnt happen in election year, would of been passed

[wufwugy]

yes the US top echelon of power will do whatever it takes to remain the top echelon of power just like they have since WW2

i will not be surprised if US eventually starts WW3.

[Jack Sawyer]

yes the US top echelon of power will do whatever it takes to remain the top echelon of power just like they have since WW2

i will not be surprised if US eventually starts WW3.

if its not against Japan, I'm moving to the Polynesia.

if Japan's in it, I'm moving to Kyrgyzstan.

[flomo]

grow some nuts