How could Congress pass a budget within a week of notice!?? CA still doesn’t have a budget for the coming year and it’s been there since beginning of the year. Selling Panic and Armageddon is easier than convincing
spierce Wrote: ------------------------------------------------------- > vanz1212 Wrote: > -------------------------------------------------- > ----- > > I’m also surprised that so many people think > > voting this thing down is a good idea. We’re > > already foreign investment rich and trade poor, > > can we really afford a long drawn out recession > > (or worse) which can only exacerbate that > already > > shaky relationship? I don’t think so. Also, a > US > > banking crisis = a global banking panic = a > global > > recession (or worse) > > Add me to this list. I am utterly amazed that > financially educated people would somehow think > that destroying the US capital market, and very > likely, the world’s capital market, is preferable > to trying to actually fix the problem. We need > time to fix it and this would have provided that. > > Just as mainstreet is stupid for cutting their > nose off to spite their faces re: CEO comp. The > fools on here are willing to throw the baby out > with the bathwater. > > It’s sad to think that such supposedly > intellectually strong people cannot fathom the > damage a global depression will cause. Not only > that, they think they know everything and seem to > know nothing about how the credit markets are > reacting. +1 I think the ‘against’ camp was motivated by two selfish desires: i) a unpragmatic resolve to adhere to Republican orthodoxy and ii) populism. In relation to my second point, consider the principal concessions added to the Bill: ‘golden parachutes’ and help for homeowners are of minimal economic consequence. Not to mention that protecting taxpayers and making it easier for homeowners to renege on their loans would seem mutually exclusive. Perhaps Europe will show the way.
virginCFAhooker Wrote: ------------------------------------------------------- > The alternative is to come up with a plan that > completely bypasses the idiots on wall street who > got us into this mess and doesn’t cost the > taxpayers $700 billion. > > The stupid plan, that Spierce likes and that got > voted down today, was to give the same fools who > got us into this mess another $700 billion with no > restrictions. I’m sure Spierce likes it because > he’s probably got a boatload of those bonds he’d > like to unload but no one spending their own money > will even talk to him. Dude, why do you keep saying that it’s going to cost taxpayers $700m. Are you: a) not understanding the basics? b) trying to manipulate the uninformed?
Posted by: JoeyDVivre We are definitely in serious trouble and do-nothing is very bad. I don’t think anybody is advocating do-nothing ________________________________________________________________ I see majority on this discussion forum wanted NO BAILOUT and some of you as above seem to suggest SOMETHING should be done, but I don’t read a lot of what ALTERNATIVE SOMETHING should be done. With due respect to you all, can you throw some light what else can be done or should be done?
CNBC is reporting that the the reason a dozen republicans jump ship at the last moment was because of a partisan Pelosi speech. Yeh, right, how very mature. I don’t like her attitude, I don’t care if I have promised the world, I don’t care the financial system might collapse, I just have to teach that democrate woman a lesson.
I was talking to my friend in DC, he said they lost almost two dozen votes due to that one speech. I would think its BS, but he normally knows these kinds of things.
In that case it was a brilliant speech because she probably made McCain lose the election there. The Republicans look stupid.
Bleeck Wrote: ------------------------------------------------------- > In that case it was a brilliant speech because she > probably made McCain lose the election there. > > The Republicans look stupid. I agree. at this point the Repubs just need to give it up and go into a 8 year rebuilding mode. I’d suggest they look at the Congress of the 90’s as an example.
95 democrats used their brains and also voted it down. This wasn’t about party lines; it was about intelligence & common sense. The speech was stupid as all her speeches are. It had little effect.
virginCFAhooker Wrote: ------------------------------------------------------- > 95 democrats used their brains and also voted it > down. This wasn’t about party lines; it was about > intelligence & common sense. > > The speech was stupid as all her speeches are. It > had little effect. They didn’t use their brains. If they had they’d have realized that this problem will hit their constituents even if their constituents don’t know it yet.
No, you don’t get it. This bill was completely Un-American and a comletelt botched embarassment. Many constituents understand the ramifications and have been well aware of this type of event. What don’t you get? WE ARE BROKE! Our govt is broke, and the people are broke. This ridiculous credit orgy and irresponsible monetary and fiscal policy over the years could be seen by anyone without a blind eye from miles away. We blew it. We all blew it. Face it. This massive greed and credit perversion is our own faults. Should we perpetuate it? How does keeping this sort of credit economy benefit us strategically, in the future? Its insane. We have had it great, that’s part of the boon of being the reserve currency of the world. China still wants to grow so I don’t see them pulling the plug…yet, but when will they? And what will happen? They are aleady diversifying their trading partners. We have become far too loose with all the toilet paper our banks write. As consumers, we are constantly given incentives to spend and not save. We have a monetary system that could give a rats ass about having a sound currency subscribing to this ridiculous notion that we can always inflate our way out of everything. The size of govt and the supply of money. Its time to put an end to this madness and our illusionary way of life with all of this vapor wealth. Give it up, we failed. There will be pain. Its long overdue. Credit markets will continue to freeze for a period but the vacuum will be filled. There are some other options besides this stupid bill but none will avert pain. Wake up, people, many of you have been living in a fantasy world. People do need to start getting their heads around this because the great unwind will change the way of life for many Americans…and with our current entitlement system, hello Argentina. Feel free to disagree. It may not happen completely yet, but the time will come and the longer we wait, the more painful it will be. Good luck.
grizzums Wrote: ------------------------------------------------------- > No, you don’t get it. > > This bill was completely Un-American and a > comletelt botched embarassment. > > Many constituents understand the ramifications > and have been well aware of this type of event. > What don’t you get? WE ARE BROKE! Our govt is > broke, and the people are broke. This ridiculous > credit orgy and irresponsible monetary and fiscal > policy over the years could be seen by anyone > without a blind eye from miles away. > > We blew it. We all blew it. Face it. This > massive greed and credit perversion is our own > faults. Should we perpetuate it? How does keeping > this sort of credit economy benefit us > strategically, in the future? Its insane. We have > had it great, that’s part of the boon of being the > reserve currency of the world. China still wants > to grow so I don’t see them pulling the > plug…yet, but when will they? And what will > happen? They are aleady diversifying their trading > partners. We have become far too loose with all > the toilet paper our banks write. As consumers, we > are constantly given incentives to spend and not > save. We have a monetary system that could give a > rats ass about having a sound currency subscribing > to this ridiculous notion that we can always > inflate our way out of everything. The size of > govt and the supply of money. > > > Its time to put an end to this madness and our > illusionary way of life with all of this vapor > wealth. Give it up, we failed. > > There will be pain. Its long overdue. Credit > markets will continue to freeze for a period but > the vacuum will be filled. There are some other > options besides this stupid bill but none will > avert pain. Wake up, people, many of you have > been living in a fantasy world. > > People do need to start getting their heads around > this because the great unwind will change the way > of life for many Americans…and with our current > entitlement system, hello Argentina. > > Feel free to disagree. It may not happen > completely yet, but the time will come and the > longer we wait, the more painful it will be. > > Good luck. lol. “we are broke”. Please, we aren’t “broke”. The problem can be contained and worked out pretty easily. As far as debt, we can pay it down provided we do it orderly.
spierce > > lol. “we are broke”. Please, we aren’t “broke”. > The problem can be contained and worked out pretty > easily. As far as debt, we can pay it down > provided we do it orderly. ^^ i like this chap’s unmitigated optimism . ‘pretty easy’ is how he sums it up.ofcourse, he knows how it will play out step by step. not only that, he has the CFA charter.whats not to like. i am converted to the spierce camp.
You guys still proud? A pointless sweetener in the shape of a deposit guarantee, and this thing will probably pass 2 days late…
Dsylexic Wrote: ------------------------------------------------------- > spierce > > > > lol. “we are broke”. Please, we aren’t > “broke”. > > The problem can be contained and worked out > pretty > > easily. As far as debt, we can pay it down > > provided we do it orderly. > > ^^ i like this chap’s unmitigated optimism . > ‘pretty easy’ is how he sums it up.ofcourse, he > knows how it will play out step by step. not only > that, he has the CFA charter.whats not to like. i > am converted to the spierce camp. As opposed to ignorant prognositcations of impending doom? Are you in line for Rapture or something?
Hear, hear, Spierce!