Originally posted by Yohan
But you know avg joe is going to demand the govt do something. Hence why both candidates are in support of the bailout.
The avg joe needs to learn a lesson and they are about to learn it. No savings and a tonne of credit can't go on forever. Now its gonna be interesting to see what happens when credit is not available and they can't borrow anything from there homes with no savings in the bank. Its gonna be bad for a while then it will get better, but its normal.
Yohan
quote:
Originally posted by SniFFleS
The avg joe needs to learn a lesson and they are about to learn it. No savings and a tonne of credit can't go on forever. Now its gonna be interesting to see what happens when credit is not available and they can't borrow anything from there homes with no savings in the bank. Its gonna be bad for a while then it will get better, but its normal.
And avg joe doesn't see what he's doing to be wrong. Kinda like, it's everyone's fault but mine and expects the govt to make things right. After all, why else would the govt get the vote, if not to bail out avg joes?
Considering how many years of relative economic goodtimes (when was the last recession? 94?) I doubt many people remember how to live in tougher times because people just got so used to living above their means. Changing habits... Hard to do.
SniFFleS
This video is awesome Peter Schiff explaining whats going to happen. This was two years ago.
And search his recent articles or videos, he's a genius.
DigiNut
I want to add one other thing:
The only thing that truly surprises me about all this is that so many people who are flat out anti-business, hate corporations and "corporate America", would be OK with a bailout like this.
This is one rare case where it's almost completely clear-cut, where giant faceless corporations have dug their own graves with arrogance and incompetence (notwithstanding the government-imposed bureaucratic red tape). This is a corporate -up of Enron proportions. This is Enron times ten!
Why would any of you want to protect these people? In your own words, these are the people who have been screwing over John Q. Public for decades in order to line their own pockets. Now they're finally getting the crap beaten out of them and you want the government to help.
It's like the second-last scene of a cheesy Hollywood action movie where the good guy finally gets the jump on the bad guy and he's standing there holding the gun but just can't pull the trigger, and you're sitting there screaming "Oh dear GOD, SHOOT HIM YOU IDIOT!" But no, he has to put the gun down and walk away as if the villain's learned his lesson, which of course he hasn't, and you know that the second the protagonist turns his back he's going to get jumped again, and you're busy smacking your forehead going WHY, WHY DID YOU DO THAT...
Why, because we "need" them? We don't need them. Some banks are still doing fine, and millions of people get by every year without any credit at all.
Everybody here should be hoping that this bailout doesn't go through. This seems like one of the most non-partisan issues imaginable. Liberals shouldn't like it because it's only helping irresponsible corporations, and conservatives shouldn't like it because it's pissing away taxpayer money on sinking ships. The only point in favour seems to be a totally unfounded and short-sighted argument that it's somehow going to save the American economy. It's not!
SniFFleS
quote:
Originally posted by Yohan
And avg joe doesn't see what he's doing to be wrong. Kinda like, it's everyone's fault but mine and expects the govt to make things right. After all, why else would the govt get the vote, if not to bail out avg joes?
Considering how many years of relative economic goodtimes (when was the last recession? 94?) I doubt many people remember how to live in tougher times because people just got so used to living above their means. Changing habits... Hard to do.
You're right but they should let smart economist handle it and not idiotic politicians. I don't think Obama has a clue what to say about the situation.
8Wonders
Does this mean it's time to dump all my US funds to Canadian?
Yohan
quote:
Originally posted by SniFFleS
You're right but they should let smart economist handle it and not idiotic politicians. I don't think Obama has a clue what to say about the situation.
But avg joe doesn't care for long term benefits, when in short term, he's going to go hungry
Vivid Boy
I need this short term fix or im ed.
bankruptcy at the age of 27 :D
i feel like johnny drama already
Skipper
quote:
Originally posted by DigiNut
Why would any of you want to protect these people? In your own words, these are the people who have been screwing over John Q. Public for decades in order to line their own pockets. Now they're finally getting the crap beaten out of them and you want the government to help.
I think that's a simplistic view of what is being attempted here. It's not about protecting the pockets of wall street. It's about allowing the market to be able to function in the short term - the long term pain is being ignored, I agree, but you ask anyone getting close to retirement or with a short term investment horizon and they will say thiis just as much about main street as it is about wall street.
PartEgurl
quote:
Originally posted by Tunnel Rat
.....also funny to see the environment completely fall off the map in regards to hot topics in the U.S. election.
Climate change gets trumped by economic change every time.
Recession is often a good thing for the environment. We see less consumerism when there is less extra money to go around. Also people tend to make sacrifices to save money by riding a bike to work instead of driving, travel closer to home, and are more cautious when using electricity. But yes, I agree, the environment needs more attention, just another way to look at things.
PartEgurl
quote:
Originally posted by Vivid Boy
I need this short term fix or im ed.
bankruptcy at the age of 27 :D
i feel like johnny drama already
Ahhhhhh nice, current with your entourage :D He's had 3 already ?? How is that even possible at his age?? Only drama could manage that.
Endlesswave
quote:
Originally posted by Yohan
And in the long term US economy fails, Canada is going to be in even bigger hurt.
Well, unless Canada starts diversifying trade partners but I don't see that happening. (Who would Canada trade with?)
