the bailout

downwithpants · Post by **downwithpants** » Tue Sep 30, 2008 1:39 am

would you stop supporting for a congressperson for voting for it?

i can see cons to the bailout, including:
higher taxes
larger national debt
weakening of the dollar
absolvation of responsibility for rich white people
shift towards socialism

but considering the alternative:
massive unemployment
long term economic slowdown

i think it's a necessary investment we need to make-- this doesn't affect only rich white people playing the stock market, there will be layoffs nationwide. thoughts?

Fall_Child42 · Post by **Fall_Child42** » Tue Sep 30, 2008 4:40 am

I like how a "Shift towards socialism" has to be in the "Cons" section.

P.S. Didn't deregulation 8 years ago cause this entire crisis in the first place?

guy07 · Post by **guy07** » Tue Sep 30, 2008 8:00 am

So ...."Don't screw poor people! It's everyone or gtfo!" lol
Having a weak dollar can actually be a strong point. It can make it cheaper for people from other countries to come and visit. Canada use to have tons of tourists until our dollar went up ... now it's too expensive and less people are coming here to sight see and what not.

dwchang · Post by **dwchang** » Tue Sep 30, 2008 10:12 am

downwithpants wrote:would you stop supporting for a congressperson for voting for it?

i can see cons to the bailout, including:
higher taxes
larger national debt
weakening of the dollar
absolvation of responsibility for rich white people
shift towards socialism

but considering the alternative:
massive unemployment
long term economic slowdown

i think it's a necessary investment we need to make-- this doesn't affect only rich white people playing the stock market, there will be layoffs nationwide. thoughts?

I don't have a lot of time to write a giant ass reply, but NOT doing it is far worse than doing it. The solution isn't ideal, but having no banks to lend (or at least ones who are VERY stingy when it comes to lending)to small business (even big businesses), new home buyers, etc. would have the economy come to a screeching halt with very little growth or development.

That would affect EVERYONE so it's not just going to screw the banks and the rich people. That's a stupid statement to say in the first place and thinks the dominoes won't continue to fall and eventually fall on you. It's all related.

Org Profile · Post by **Otohiko** » Tue Sep 30, 2008 10:16 am

Doktor F.C. Mad Genius wrote:I like how a "Shift towards socialism" has to be in the "Cons" section.

jasper-isis · Post by **jasper-isis** » Tue Sep 30, 2008 1:04 pm

The congressmen who voted against it were just playing chicken. They wanted it to pass, but they didn't want go to on record for passing it, so they were relying on others to carry it through. Everybody was confident that it'd go through anyway. And then the tallies came in.

I laughed a very sad laugh.

BasharOfTheAges · Post by **BasharOfTheAges** » Tue Sep 30, 2008 6:26 pm

The markets rebounded pretty well today for impending doom.

I think we honestly need to let this play out. Our economy is all smoke and mirrors at this point and the constant, rapid growth of the past 20 years is not a feasible long-term thing. It can't go on indefinitely, especially when so much of it was built on money that isn't real and debts that can never be repaid.

It doesn't help when a debate that should center around logic has so much emotion tied to it. Nobody wants to look like the bad guy for saying "well, we were stupid and should probably have to pay for it sometime - either do it now or have it be 10x worse in a decade or two."

guy07 · Post by **guy07** » Tue Sep 30, 2008 8:03 pm

BasharOfTheAges wrote:Shit happens.

Kalium · Post by **Kalium** » Tue Sep 30, 2008 8:13 pm

BasharOfTheAges wrote:It doesn't help when a debate that should center around logic has so much emotion tied to it. Nobody wants to look like the bad guy for saying "well, we were stupid and should probably have to pay for it sometime - either do it now or have it be 10x worse in a decade or two."

But collective illusion is the American Way!

Krisqo · Post by **Krisqo** » Tue Sep 30, 2008 8:54 pm

BasharOfTheAges wrote:The markets rebounded pretty well today for impending doom.

I think we honestly need to let this play out. Our economy is all smoke and mirrors at this point and the constant, rapid growth of the past 20 years is not a feasible long-term thing. It can't go on indefinitely, especially when so much of it was built on money that isn't real and debts that can never be repaid.

It doesn't help when a debate that should center around logic has so much emotion tied to it. Nobody wants to look like the bad guy for saying "well, we were stupid and should probably have to pay for it sometime - either do it now or have it be 10x worse in a decade or two."

x2

Think of the Dot Com Boom. At one point the NASDAC (sp) was well over 5,000. Then the bubble burst.

The same happened here. It was all housing.Remember all those infomercials about making money in the housing industry? The bubble burst and this time it hits harder since more were involved in the housing boom (i.e. banks). Those where were not prepared for the fall are those ones that will eventually fail like all those DotCom companies. It's the way of life in economics. You do good for a while then BAM!!!!

Still, I thank God for never getting into the stock market..

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