$700 Billion bailout first denied, later approved

Dopemine Cleric said:
TheGM said:
And to think less the 8 years ago we had a surplus of a Trillion dollars!

Only one thing can save us now. manufacturing.
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Yeah, manufacturing shit people won't buy because they have no money.


Good idea.


What we really need is new industry like... now.


Get the helium-3 deposits off the moon and start a full fledged mining operation, and harness the power of helium 3, with lots of jobs. It's the only resource we have left on this entire earth besides oil deposits under icecaps.

It's an economic system based on growth that has nowhere to go, and no one is noticing it. It's rather sad and pathetic.
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I tried explaining your point in various topics regarding manned missions to Mars and beyond. Without the "untamed west" with vast resources for expansion, the world hits a dead zone. Without new industry (such as the .com / tech industry craze) there is little to no growth in our markets.

Mining in space has the only tangible benefits I can see today... Sure there is that cool organic replacement for silicon but I can just imagine the havoc that would cause the economy...

While I don't think this is an omen of things to come, I do recognize the severity of the situation, I just tend to lean towards Horst's point of view... Then again, I don't know much about the economy (pun intended).
 
Hmm... I havent lost anything in this yet, I'm only 20 and have only ever had jobs and never enough to invest in anything yet. But I can see this being bad for my future, and my kid's future (one day when/if I have kids).

The coment was made about Printing more Monopoly Money... well, yes. There is a surplus of money and because so the value of the dollar is depreciated. I mean, the US currency used to be one of the most expensive in the world. What now?

Talking with my boss, (I'm a Contractor's Assistant and Tinkerer) it has been said that every time the country falters economicaly or in other ways there is always one president to step. And this happens about every twenty years. (of course about every twenty years there is an attempt on the president's life, this has reoccured since Lincoln) Last time it was Reagan that got this country back on track....
Now I know I haven't followed politics as closely as I should have but I am really hoping that something can be done...
 
Agrees with Sander. Many people don't understand what bailout actually means, and it's not really that hard to see its point. There is no question that Wall Street is responsible for the situation but it's not only their problem if it's not fixed. We're not talking Interplay going under here. Acquisition, which is the more suitable word, is the only option right now.
 
I'm not normally one to predict doom and gloom, but for me the scariest thing about the Great Depression was how hard it was to get out of it. In the midst of all of those feel-good Shirley Temple movies and FDR work projects (basically massive stimuli, with the benefit of getting a lot of the young people out of town), it took World War II to get the world out of the Great Depression. And WWII was in many ways caused by the Great Depression - nothing says "Screw this, Let's Go to War!" like a massive drop in international commerce.
 
Yeah, what we need here is a great war. All a whole bunch of little ones. Here, in the eastern part of the eurps, things seem ok for now, because the crisis didn't reach us completely.
 
With a bunch of added pork spending!

Imagine that...

I wish I had the money to deport my entire immediate family to Sweden, but it doesn't look like that's happening anytime soon.
 
I'm seriously thinking about it, if I can find an equivalent paying job.

"Revoke my citiizenship, bitches."
 
Pope Viper said:
Same here.

They've singlehandedly automatically put my children into debt.

Fuckers.
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Ehm, you do realise that having the entire economic system collapse is significantly worse than having your children be in debt, right?

Sure, you should never have been in this position in the first place, the banks were greedy moneygrubbing whores for trying to sell loans they knew could never be repaid etc etc etc
But while that's all true, going 'fuck them' is not going to solve the very deep shit the US economy is in right now. This plan could.
 
Makagulfazel said:
With a bunch of added pork spending!

Imagine that...

I wish I had the money to deport my entire immediate family to Sweden, but it doesn't look like that's happening anytime soon.
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Ehh you want to move to sweden to avoid taxes?
 
Loxley said:
Makagulfazel said:
With a bunch of added pork spending!

Imagine that...

I wish I had the money to deport my entire immediate family to Sweden, but it doesn't look like that's happening anytime soon.
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Ehh you want to move to sweden to avoid taxes?
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It's more likely he wants to go there because he know the taxes there are well applied, intead of being pocketed by corrupt politicians, given to bankrupt bankers or used to wage wars in the middle east... :roll:
 
Loxley said:
Makagulfazel said:
With a bunch of added pork spending!

Imagine that...

I wish I had the money to deport my entire immediate family to Sweden, but it doesn't look like that's happening anytime soon.
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Ehh you want to move to sweden to avoid taxes?
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Hehe, that's what I thought.. At least a couple of years ago, I think Sweden had the highest taxes in the world. Now I dunno if we've been passed, but they're still fucking high.
 
Loxley said:
from what I have heard dubai is only okay if you are either rich or muslim.
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I think their mentality towards life quality is better. Most locals are well off because the government takes care of them and such from all the oil profits. Obviously, I wouldn't expect the same treatment as a local, but still, tax free haven. You can also look at what the government is doing to the country and how wisely they are investing their money so that it maximizes their return, 10 years ago most didn't even know Dubai existed.
 
Sander said:
Pope Viper said:
Same here.

They've singlehandedly automatically put my children into debt.

Fuckers.
Click to expand...
Ehm, you do realise that having the entire economic system collapse is significantly worse than having your children be in debt, right?

Sure, you should never have been in this position in the first place, the banks were greedy moneygrubbing whores for trying to sell loans they knew could never be repaid etc etc etc
But while that's all true, going 'fuck them' is not going to solve the very deep shit the US economy is in right now. This plan could.
Click to expand...

Oh, I absolutely understand that, what I don't have is faith that this plan will be managed effectively, or that all the BS promises made are going to actually be realized.

While I do work for a financial firm, my company was smart enough not to get into all this sub-prime mortgage lending, they took into account the risks involved, and decided it wasn't advantageous.

What irks me is how much more can financially irresponsible businesses continue to use the taxpayers as their private piggy bank, that when they get into trouble, their lobbyists will run to their nearest politician and state "If you don't throw us a rope now, the entire US economy will fail."

Auto industry, financial industry, where else?
 
Sicblades said:
Loxley said:
from what I have heard dubai is only okay if you are either rich or muslim.
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I think their mentality towards life quality is better. Most locals are well off because the government takes care of them and such from all the oil profits. Obviously, I wouldn't expect the same treatment as a local, but still, tax free haven. You can also look at what the government is doing to the country and how wisely they are investing their money so that it maximizes their return, 10 years ago most didn't even know Dubai existed.
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Ehh no. I have talked with an indian that grew upp in dubai and the things you talk about only applies to rich people or muslims. Sure if you convert to being a muslim, they will give you a car, house, job and 60000$, but you will not be allowed to leave the country.

The guy I knew is dreaming of getting a job in the US and taking his familiy over there, since as he said "there is much less racism here."
 
The bail-out may be necessary, but in some ways I think it might be better in the long run just to weather out the storm, so to speak. As Pope Viper pointed out, the situation where an industry (such as the financial industry) can engage in risky and, really, incredibly stupid practices like sub-prime mortgages and that whole shebang while count on the government to saddle the taxpayers with almost a trillion dollars of money neither it nor the taxpayers really have in order to bail them out when it all goes bad is... not good. In fact, it's really bad. Yes, not bailing them out would suck for everybody, and for the regular people more than for those at the companies in question, but as long as we do just keep bailing them out, they'll keep doing the stupid shit. Until they just run an already bloated government and its overburdened citizens right into their (metaphorical) graves.
 
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