700 Billion Bailout
POSTED BY: Wulfenstar
UPDATED: Sunday, September 8, 2024 21:33
VIEWED: 7614
PAGE 3 of 8
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Not really. Printing more money is on option for solving these kinds of problems. It gets you out of little jams like this; it’s just not something you want to do a lot.
Yes, because when Canadians are referring to our currency as "American pesos", and the dollar has lost 30% or more of it value in the last few years as we wildly overprinted and overspent, what you really want to do is print up another quick trillion or so to flood the market and further devalue your currency. After all, if we're already spending close to a trillion to bail out failing companies, what's another trillion on top of that to shore up their further losses when we devalue the dollar even more?
EC
If the prefix "pro-" means "for" or "in favor of", and "con" is its opposite, and if "progress" means "pushing forward" or "improving"... then what the hell does "Congress" mean?
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Note the Fascist fasci (bundle of sticks)
PN, I don't think anyone else here has the historical background to recognize that, to be honest with you.
But yes, that is indeed the fasci, and in fact the exact same design of one as the flag flown by Mussolinis government, only without the axe.
And I was gettin to that, Siggy, you know I was, you thunder stealin wench, lol
-F
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Quote:Actually they're the Fasces lictoriae and they come from Ancient Rome, and were the symbol of the Roman Republic. I imagine the US uses them because the American Republic was based on the Roman one, while Mussolini used it because his plan was to rebuild the Roman empire. It's not a fascist symbol at all, neither was the Swastika actually.
Originally posted by Fremdfirma:
But yes, that is indeed the fasci, and in fact the exact same design of one as the flag flown by Mussolinis government, only without the axe.
There's a lot of Roman symbolism in the US, the Eagle for instance.
More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.
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Finn... Ah yes, where were we???
Quote:So, am I wrong?
You really should stop enabling him.-Signy
And that's even stupider.-Finn
Finn, when it comes to Bush's most disastrous policies, you haven't said "boo!". Starting with tax cuts and "trickle down" economics, moving right along with massive deregulation, an expensive and useless war, and frantic government borrowing... all set the stage for the current crisis. Where were YOU when this was all going on? As I recall, you were rationalizing and making excuses, mostly. Maybe I'm unfairly tarring your opinion on Bush's economic policies with your opinion on the Iraq war (which has been blind followership, as far as I can tell). If so, let me know what your real opinions were on the above policies and I'll apologize.-Signy
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Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal
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Quote:Probably, but why do you insist upon making this discussion about me?
Originally posted by SignyM:
So, am I wrong?
Nihil est incertius vulgo, nihil obscurius voluntate hominum, nihil fallacius ratione tota comitiorum.
Nothing is more unpredictable than the mob, nothing more obscure than public opinion, nothing more deceptive than the whole political system.
-- Cicero
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Originally posted by Finn mac Cumhal:Quote:Probably, but why do you insist upon making this discussion about me?
Originally posted by SignyM:
So, am I wrong?
This is fairly dumb
More insane ramblings by the people who brought you beeeer milkshakes!
No one can see their reflection in running water. It is only in still water that we can see.
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Originally posted by Finn mac Cumhal:
I haven’t looked at Bush’s bailout plane, but my initial judgment is that I’m not real psyched about it. I don’t think we want to reward bad investors or create an institution of speculating against the government or unnecessarily widen government intrusion. Which is kind of what I think this does.
First of all, we shouldn’t be propping up failing enterprises, but rather the government should step in to provide an orderly and judicious system to their acquisition or restructuring.
I completely agree with you, and I'm sure Bush does also. I think Bernanke and Paulson convinced him that the the erosion of confidence in the financial system after a few money market funds announced their funds were only worth 97cents on the dollar forced his hand. We can be sure that both this plan and the Freddi/Fannie plan will result in these entities disappearing entirely in not to many years. The plan is to have the Fed take over these companies and mortgage securities and dissolve them as soon as the free market will allow. That's why it's now more important than ever to keep the Dems out of power. If Obama wins, these government entities will be perpetuated forever and result in what Wulfenstar fears most, the socialization of another 10% of our economy.
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Quote:Because you're bright and worth talking to. So show me how I'm wrong.
Probably, but why do you insist upon making this discussion about me?
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Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal
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Kirk... you really don't get it, do you?
The system was within ONE DAY of panic.
How do I know???
Because usually they do the big stuff on the weekends... bailing out Freddie and Fannie, Lehman declaring bankruptcy etc.
The financial institutions are only 5-10% capitalized. NONE of them could w/stand a run.
---------------------------------
Any idea, no matter how much you may agree with it, can be radicalized and employed as an excuse for violence. There is no such thing as a righteous or untouchable philosophy, and when you start thinking that there is, you have become an extremist.- Finn Mac Cumhal
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Quote:
Originally posted by SignyM:
Kirk... you really don't get it, do you?
The system was within ONE DAY of panic.
How do I know???
Because usually they do the big stuff on the weekends... bailing out Freddie and Fannie, Lehman declaring bankruptcy etc.
The financial institutions are only 5-10% capitalized. NONE of them could w/stand a run.
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I agree with you completely. I don't think there's anything in what I said that suggests anything different. When I referred to the problem in money market funds I was suggesting that a run on the banks could have been imminent.
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