Deb and Ed M wrote: Dick A, that was a great post!! And now, armed with the hindsight of knowing the bailout "bombed" (at least for now) - now we can sit back and hopefully let some of the less-hasty and wise folks come up with better alternatives??
As someone who's been fiscally conservative all my life, it angered me to feel like we were being railroaded into "saving the country". Giving mountains of money to those who had NOT shown fiscal restraint in the past. And leaving our government in charge of private enterprise. Yes, "they" said we'd get our money back some day - do they really think we believed it???????
And yes, the Market is tanking. All those who were drooling at the thought of a monetary infusion are now panicked; but somehow, I feel like the wise and prudent people of the USA will continue to carry on.
Deb
What does your crystal ball say about how things will be tomorrow or the next day or day after that and so-on if no bailout is approved. Will everything just right itself and life will continue?
Well for sure life will continue. It has been proven over and over again, throwing money (fake or real)has never solved anything. It was a bad bill, made in haste, and filled with waste. Taxpayers did not want it and finally some people in Congress listened to them.
I am not a computer whiz, if you could please post a link that has the entire bailout verbatim, maybe I can see where this throwing of the money exists.
JCapps, I'm not burying my head in the sand but enough is enough. How many different threads about this are there? I swear some of you just absolutely delight in being pessimistic in the hopes you can bring everyone down to your level.
We are cutting back on the number of threads on this topic; and if it turns political. again, this one won't last either. As has been explained several times, this forum is NOT a forum for all the social/political ills and instead is a place to come to have fun and not dwell on doom/gloom. Also, again, there are plenty of web sites one can go to for those kinds of topics if wanted. We need to 'lighten' up on the topics here.
I vote for one "economic crisis / government bailout" thread like we have for fuel prices. Lock everything else and point them there. That way, those not wanting to discuss things can ignore it and not be overwhelmed with endless threads about the same thing.
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Also, I don't think the economy is failing. I think the market is trying to do a major adjustment to reach equilibrium, and we need to allow it to happen, even if it hurts a little in the short term.
Anybody notice that oil is below $100/barrel? There are plus sides to the market correction.
Moderator wrote: We are cutting back on the number of threads on this topic; and if it turns political. again, this one won't last either. As has been explained several times, this forum is NOT a forum for all the social/political ills and instead is a place to come to have fun and not dwell on doom/gloom. Also, again, there are plenty of web sites one can go to for those kinds of topics if wanted. We need to 'lighten' up on the topics here.
Very nice!
The "fun" is getting slimmer and slimmer here at ATC. Maybe we need a sticky for these gloomy posts, just like the one we had for the fuel posts.
I can't help believing that a real campfire would be a bit more upbeat than what we are seeing more and more of here.
Reading many of the replies, I was just wondering what school all of you got your Economist Doctorate Degree from? If each of you will list these along with your remarks about how to solve this problem, it will help us feel better about your knowledge of the subject.
In addition, maybe some of you can point out the mistakes Warren Buffet made in his remarks to Congress since he strongly urged passing of this bill. He probably would appreciate the advise many of you seem sure will solve this problem. After all, he is just a novice on the subject.
It's a concern, not just to Americans, but to citizens of other countries. America's largest trading partner for years has been and is Canada.
The economies are joined at the hip, although America's financial hip is obviously much larger.
Where it will end, as the moderator indicated is anybody's guess.
Well for now....batten down the hatch.
On another point I think it is important to have this as a continuing discussion point. It is obviously a concern for everybody, people need to discuss.
Thank you to the moderator for initiating this topic discussion, also for his thoughtful assessment of the financial situation.
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