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When will the US financial baillout occur?


Tiger Moth

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I think part of the problem is we give too much trust to our leaders. When we find out they are no better then religious leaders; it becomes depressing. The straw house that Social Security and Medicare is an example. We pay good money into a system only to find out the money was never put into the system, but was used for other things.

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Personally I think most of this is down to Bush, after all (and I am no expert) it was his adminstration that removed a lot of financial controls on the banks.

 

For sure there is a problem, but I wonder how much so, confidence is what the stock markets need right now, the Bush plan may give that to them in the short-term but what happens after that.

 

Lastly, I find it amazing that the US government can find money to fight wars abroad, 10billion dollars in Jan 2007 for the Afghan war as a example, I dont know the total fincancial input in this war (not to mention Iraq) but I bet it wouldnt be too far off the 700 billion they are trying to invest.

 

 

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You have to remember war can be good for the US economy. A lot of people benefit. Too bad the cheap oil didn't materialize.

 

I think many conservative Republicans actually find Bush too liberal. He is fiscally irresponsible and he increased the size of government....just like those pesky liberals.

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I still recall alot of the fuck wit talk show hosts telling us that "...this war will be over in 3 weeks, and gas will be $1.39 at the pump..." all the idiots at work couldn't parrot this enough.

 

Well...here we are. The money we spent on this war could have been used to bail out the banks and or propped up the infrastructure here at home. But there is a problem. The money we spent on the war so far as I understand it, has been borrowed, which creates it's own/more problems. It creates problems for the U.S. as well as China, who loaned it to us. Which of course has it's fallout for China, the U.S. and the rest of the world.

 

As for wars being good for an economy? yeah, if they are "run right." But rather than let the government sector handle this, the war got "out sourced." The cost is much higher as there is no competitive contract bidding, and once again, we are screwed...but of course GWB is saying the economy is doing well.

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Personally I think most of this is down to Bush, after all (and I am no expert) it was his adminstration that removed a lot of financial controls on the banks.

 

For sure there is a problem, but I wonder how much so, confidence is what the stock markets need right now, the Bush plan may give that to them in the short-term but what happens after that.

 

Lastly, I find it amazing that the US government can find money to fight wars abroad, 10billion dollars in Jan 2007 for the Afghan war as a example, I dont know the total fincancial input in this war (not to mention Iraq) but I bet it wouldnt be too far off the 700 billion they are trying to invest.

 

 

The current cost for Iraq is running at $10B per month. One Nobel Prize winning economist estimates the total cost of the Iraq War will be $3 trillion.

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It has to be a "rat" for sure. If this is all real, they would have seen it coming, and done something to prevent it. The fact that they let it happen, and suddenly in what 1-2 days had a plan ready, that they were pushing, just means it is yet another smoking gun/screw job from this administration. I don't believe for a second this mess was not planned/engineered.

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WaMu went solvent and JPMorganChase swooped in. The free market at work. How do we know that some other company who were smart enough to avoid a lot of this mess won't come in and buy AIG, Lehman Brothers or the rest? Lets give the free market a chance.

 

The word is that house republicans are getting emails 200-1 against the bailout. They are against it on principle and so are their constituents. The house republicans are tougher to get on board because they represent smaller areas than Senators which are the entire state. They don't have to worry about what the whole state thinks like a senator does but only their microcosm of it which is usallly far more homogenous than the entire state.

 

My guess is that McCain's advisors see the election going away with a little over a month left and are again like a team that has to use trick plays to win the football game.

 

I don't like to see anyone bailed out but if I had a choice I'd much rather the people stuck with the balloon payments. Why can't we provide them the money instead of the banks and mortgage companies? Who ever has a mortgage that rose a certain percentage over the last year, has their mortgage amount stay the same and the difference paid with the bailout money. They have to stay in the home for the next 12 or 18 months which gives us time to sort it all out and doesn't let anyone who got into the mess try to flip the home or whatever.

 

The plan sucks. I still don't understand why it has to be right now. So, the stock market goes down. It should. Lets see if there are buyers for the assets of some of these depressed companies.

 

In any event I am against the bailout for a few reasons still. One is it grants way too much power to so few people, basically one person. Second is I don't quite believe the consequences of not having a bailout are as dire as they claim. I also think they are covering their onw asses. There is something not being said in all this that sounds fishy and the amdinistration has lied or misled the facts before. They have 0 credibility with me.

Last, its simply wrong. I'd rather take a wait and see position on what the markets actually do. It may be painful but swift.

 

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