Bush's $700,000,000,000 Bailout!!!

[Miroslav]

Re: Bush's $700,000,000,000 Bailout!!!

There are lots of opinion articles out there on this topic. Many raise valid points, even though they differ in opinion. Here's one I found to be good.

http://www.cnn.com/2008/POLITICS/09/29/marshall.economy/index.html

Some politicians -- and a few economists -- would say that America is drunk on credit and just needs to go cold turkey. But it's more accurate to say we're addicted to credit. Too much credit. Good credit, bad credit, anything that lets us live the high life. We have mistaken growth in the value of financial paper for real economic growth.

Getting clean will not be so easy. When credit is quickly withdrawn, everyone in the business of lending panics. Credit becomes scarce and is not available at a reasonable interest rate. Institutions that need to use credit daily start to fall like dominoes. The financial fallout -- bank failures, risking a stock market crash, worthless retirement and pension funds -- could kill us. We need to reduce our dependence on credit gradually but steadily and with no excuses.

[runningman]

Re: Bush's $700,000,000,000 Bailout!!!

Hey everyone did you see it. We all woke up today and everything is fine. Still no bailout, wallstreet is up almost 300. We don't need a bailout. The major players got together yesterday and caused a financial meltdown to scare the shit out of everybody to further push the bailout.

Remember we must say no to this bailout or we will be much more trouble then we are now.

Let's put it this way has anything that the Bush Administration said ever really panned out??

[BureOne]

Re: Bush's $700,000,000,000 Bailout!!!

Anyone want to bet on what Cowardly DJ would have to say about all this???

greed, chaos, war, killing, end of the world shit...

[thesightless]

Re: Bush's $700,000,000,000 Bailout!!!

frankly uunless you have a bachelors in business management, finance, accounting, or auctuarialism, you shouldnt be voiceing anything on the public levle abouit this. this is a science(math), not a liberal art. too many just complete morons are talking when they should be listening.

msnbc.com has a picture of some asshole holding a sign ''stop the bailout, arrest bush''

1. i hope he gets laid off tomorrow.
2. anyone with an iota of intelligence regarding our fiscal system would know that bush literally has nothign to do with this other than not being able to push teh rescue through sooner. its the public at large and media who are gutting us. and the media will get it in the end if nothing happens, as thier advert dollars will disappear.

taking care of wall street is about 100 times more impoirtant than taking care of the labor unions, as the country's money is made there

[asdf_admin]

Re: Bush's $700,000,000,000 Bailout!!!

I am totally anti-bailout.

They need to find a different way to assist, "giving" more money is not a solution, but only perpetually repeating history. Today the stocks have climbed 50% from their loss from yesterday. Tomorrow another battle unfolds ...

[runningman]

Re: Bush's $700,000,000,000 Bailout!!!

So sean you are for the bailout now?? I thought you were against it a couple days ago?? What happened.

Also you are starting to sound like Miro a bit..

"anyone with an iota of intelligence regarding our fiscal system would know that bush literally has nothign to do with this other than not being able to push teh rescue through sooner. its the public at large and media who are gutting us."

[asdf_admin]

Re: Bush's $700,000,000,000 Bailout!!!

i am anti-bailout. =P

[Miroslav]

Re: Bush's $700,000,000,000 Bailout!!!

Hey everyone did you see it. We all woke up today and everything is fine. Still no bailout, wallstreet is up almost 300. We don't need a bailout. The major players got together yesterday and caused a financial meltdown to scare the shit out of everybody to further push the bailout.

Remember we must say no to this bailout or we will be much more trouble then we are now.

Let's put it this way has anything that the Bush Administration said ever really panned out??

Oh good lord

Everything is not "fine". You look at the stock market and naively assume that that represents the extent of the financial hardships we face? Please.

Here's what the real problem is: banks are still/will still fail, credit continues to freeze, liquidity continues to tighten...which will then play itself out in real production, employment, etc. So in a nutshell, it means that we have yet to see the real impact of any meltdown that may be headed our way. The stock market is a forward-looking indicator.

Even economists who disagree with the bailout would tell you that looking at the bounce today in the equities markets and assuming that the worst of our troubles is over is ridiculous.

[shosh]

Re: Bush's $700,000,000,000 Bailout!!!

I am totally anti-bailout.

They need to find a different way to assist, "giving" more money is not a solution, but only perpetually repeating history. Today the stocks have climbed 50% from their loss from yesterday. Tomorrow another battle unfolds ...

it's not "giving" money, they are not going to just hand them the money and tell them to do whatever with it. read the bill.

Oh good lord

Everything is not "fine". You look at the stock market and naively assume that that represents the extent of the financial hardships we face? Please.

Here's what the real problem is: banks are still/will still fail, credit continues to freeze, liquidity continues to tighten...which will then play itself out in real production, employment, etc. So in a nutshell, it means that we have yet to see the real impact of any meltdown that may be headed our way. The stock market is a forward-looking indicator.

Even economists who disagree with the bailout would tell you that looking at the bounce today in the equities markets and assuming that the worst of our troubles is over is ridiculous.

THIS

[runningman]

Re: Bush's $700,000,000,000 Bailout!!!

Oh good lord

Everything is not "fine". You look at the stock market and naively assume that that represents the extent of the financial hardships we face? Please.

Here's what the real problem is: banks are still/will still fail, credit continues to freeze, liquidity continues to tighten...which will then play itself out in real production, employment, etc. So in a nutshell, it means that we have yet to see the real impact of any meltdown that may be headed our way. The stock market is a forward-looking indicator.

Even economists who disagree with the bailout would tell you that looking at the bounce today in the equities markets and assuming that the worst of our troubles is over is ridiculous.

Miro you are so stupid it hurts me to keep explaining things to you. Stocks are up 350 and counting. Your being played Miro can't you see that??

Well didn't you look at the stock market yesterday naively. It fell a bit and you gave us Armageddon scenarios. I'm not saying it's over yet!! We have yet to see the true ugliness of this beast and I say save the bailout bullet for later on when things get really bad. But not right now. Believe me you it is going to get much worse then this. We don't need a rescue we need a savior to get us out of this mess that finance experts like yourself got us into.

Other banks are going to fail "yes" bailout or no bailout. We can't stop that now. But the US surely doesn't need up to $5 trillion in dead assets either. Let the old stupid companies go bankrupt and the US can start a new bank in it's place with liquidity to start with new governance and new oversight.

[asdf_admin]

Re: Bush's $700,000,000,000 Bailout!!!

that is why i put these "'s around this --> giving.

[thesightless]

Re: Bush's $700,000,000,000 Bailout!!!

rich, the global economy lost 5% in 30 minutes yesterday.. that's scary. what were saying is that the US gov't better act now b4 its too late.

i have always been pro in regards to a responsible use of the credit line. what people arent realizing is this IS NOT A CASH GIVEAWAY. ITS A LINE OR CREDIT THAT WILL ACT MUCH THE OVERNIGHT LENDING THE WORLDS ECONOMY IS BASED ON.

[thesightless]

Re: Bush's $700,000,000,000 Bailout!!!

if they want to prevent this in the future, the federal governemnt should hold the media responsible for its actions, they did this.

[thesightless]

Re: Bush's $700,000,000,000 Bailout!!!

http://money.cnn.com/2008/09/30/markets/thebuzz/index.htm?cnn=yes

another great article from paul lamonica, he is a very good writer regarding the daily market activities

[Miroslav]

Re: Bush's $700,000,000,000 Bailout!!!

Miro you are so stupid it hurts me to keep explaining things to you. Stocks are up 350 and counting. Your being played Miro can't you see that??

Well didn't you look at the stock market yesterday naively. It fell a bit and you gave us Armageddon scenarios.

First of all, your statements demonstrate that you really don't know how to interpret movements in equities markets. You may not be clear on how they work. So why are you pretending like you do when you obviously don't? You can hide behind your tough talk, but it doesn't make you any smarter. The fact of the matter remains that you are using two days of equities market fluctuations to make sweeping inferences about the fundamental production side of the economy, and then using those to conclude the validity of the bailout plan. And that's just the wrong way to do it, even if you want to argue against the bailout plan. Any half-trained economist would tell you the same, regardless of their opinion on the plan.

If this was just a matter of opinion, I'd happily leave you alone. But when your opinion consists of insisting the academic equivalent of "1+1=3", I'm going to call you on it.

I didn't look at the stock market naively yesterday. Yesterday, I specifically said:

btw, just to state the obvious: This is not yet "the meltdown" that everyone keeps talking about. The full brunt of that - if it happens - is still to come.

I did not base those Armageddon scenarios were at all on what the market did. They were based on what's going on in the fundamental production economy. And they are still a possibility. I know the difference between what equities market and the components of Gross National Product - they are not the same thing. One day of market gyrations - or even two - doesn't mean shit in the long run.