I wish I had trust in Paulson and the Government... How come transparency is not the main issue? Why were these institutions allowed to con the system and free market on the way up but not suffer the losses when things came back to equilibrium? Does anyone remember the lies that Ben Bernake and Herny Paulson were spouting a year ago. Ben Bernake said the sub prime problem is contained and would not spread to the rest of the economy. It has been shown time and time again in history's past civilazations that the rich and the powerful have abused the system. Its very sad but we all just got raped from the rich and the powerful running this country in the ground.
I wish I had trust in Paulson and the Government... How come transparency is not the main issue? Why were these institutions allowed to con the system and free market on the way up but not suffer the losses when things came back to equilibrium? Does anyone remember the lies that Ben Bernake and Herny Paulson were spouting a year ago. Ben Bernake said the sub prime problem is contained and would not spread to the rest of the economy. It has been shown time and time again in history's past civilazations that the rich and the powerful have abused the system. Its very sad but we all just got raped from the rich and the powerful running this country in the ground.
The US government understands that printing money does NOTHING positive in a situation like this. Printing more money devalues each bill printed. Meaning we have more debt. Meaning more money printed to try and pay for it. Meaning its devalued even more. Meaning more money is owed. Rinse and repeat.
It's sad that he will be voting, and most of the American public has as much knowledge about these topics as Nullzero does....
Dont you understand the only real power that the FED has is to either contract or expand the money supply. The only thing the government can do is throw money at the problem or sit back and let the market figure it out. The FED and Government dont have complete control of anything else.
Issuing more debt is just like printing more money... This reminds me of all the credit given to the idiots that took out the subprime loan to buy the $500k house. Now look what happened...
Uhhh pulling the "bad" debt to the government so it can hold on to it while it matures, is not the same as printing money.
Basically the government is trading "bad" debt (what these loans are) for "good" debt (that is backed by the federal government). At least in a super simple way dumbed down version of it.
KEY WORD backed by the Federal Government.... back by anything else? What does backed by the federal government mean? Is it like me depositing money in IndyMac bank and IndyMac bank saying that your money is backed by IndyMac bank. Then IndyMac issues debt to a deadbeat who defaults on the loan. It then comes back to IndyMac we all know the rest of the story.
So what assets are in place for the U.S. to issue more debt? Because I have not heard of any reserve requirements for the U.S. treasury...
The reason the government can do this is because we have a monoply system of currency it will work fine until their is a lost of faith in the currency (Which is happening now).
The reason the government can do this is because we have a monoply system of currency it will work fine until their is a lost of faith in the currency (Which is happening now).
The government is not the same as a bank. If that were true, then how come all this national debt hasn't killed our economy back when it was ~$7 trillion? The government is able to hold this money, and set it aside waiting for it to mature.
The government has control over the total amount of money (can pull it out of the economy, or infuse it into the economy), and why can't they just take out $700bn setting it aside until it is worth something again?
Yes it is, but only to a point. If the dollar collapses the global economy does with it. The dollar is the basis for the global economy.
Yes I know the world goes with it... You can see my point of view though very clearly. This system is very complicated and what we have been doing for a while does not add up.
I'll agree that we cannot continue on the path we were on. The government knows it, and thats what this bailout is set to fix. The start of repairing and fixing the holes. I see where you are coming from, but your conclusion is flawed.
Agree... This financial mess is going to effect us all that is one thing that we can all agree on.
Great, another ignorant person claiming things beyond their ken.
Please, do the world a favor. Disconnect from the internet, go live in your bunker. Come out in 20 years so we can laugh our asses off.
Please, do the world a favor. Disconnect from the internet, go live in your bunker. Come out in 20 years so we can laugh our asses off.
Of course it does. It's like Sleepwalker running around like an idiot claiming "INFLATION, INFLATION, INFLATION" for the last 6 months. Then, suddenly, he is screaming "DEFLATION, DEFLATION, DEFLATION". The guy is so screwed up in the head he doesn't know up or down. He just knows whatever blog he read today. It's actually quite amusing.
It's like watching a dog chase its tail.
BeauJangles
Lifer
- Aug 26, 2001
- 13,941
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So far looks like I am right about the guns, ammo, and gold. All the nay sayers are on the wrong side of this argument when the government does stuff like this http://in.reuters.com/article/.../idINN2051567320090320
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