Rolling US Economy Into The Shitbin Thread

While some are blaming the GOP and others the Democrats for trying to inject politics into this crisis I believe I will reserve that judgement for ALL OF YOU TWITS

Also the assumption that nobody in your country except you knows what a 401K is or how it works is really, really pathetic.

tracer that's only partly to do with the merits, such as they were, of the bill. it's easy to demagogue and really difficult to explain. enough evidence is out there to suggest that the House GOP wanted the bill to pass but also wanted to hang it around the democrats' neck, and everybody calculated wrong

xp good morning.

And the OTHER assumption, that big brokers and investors don't have a vested interest in holding a fire sale in order to encourage a blank check from the rest of us, and well y'know PAULSON and BERNANKE said it could be REALLY BAD, is just absolutely pitiful

if true wau

what did i tell you

im not surprised at the attempt to pin on dems, im surprised at the obviousness of the "hey mccain, FU!"

(is that what u told me?)

Sorry goole, what's only partly to do with the merits? I don't follow you. Allz I know is it seems like most Americans are like "this is some booshit" and Congresspeople know this. Add in a bunch of Republicans who see opposition to the bailout as a possible lifeline towards re-election et voila. Non?

gabbneb when did you start posting to this thread? are you coming here TODAY to otm yourself on this thread? You sir are on the fast track.

i would just like to point out that i have been very otm always and forever

you should be careful with stunts like that lest you end up with somebody else's suggest bans on your tally

lol

the fact that reps in swing districts voted no is an indication of the political precariousness of the situation. i wouldn't call it a referendum on the bill -- there are polls out there showing that people are opposed to a "bailout" (the word, bailout, itself!) but if you describe the things the bill would do people support it. fear of attack ads is not quite the same thing as listening to your constituents or acting in their interests.

then there is the block of hard-right no-voters who are, to my knowledge, safe.

Yeah. I guess it's hard to separate one's feelings about what the bill will actually accomplish and the desire to punt one's representative face-first into a brick wall.

sorry i'm getting long winded: if i read you right, you're saying the bill's defeat has some correlation to the bill's being a bad deal; i don't think the two have much to do with each other really.

xp ha

no, there is correlation, but correlation is not necessarily causation. the timing here has far more to do with it.

dudes dems and reps are going to come back from roshashana w/ten more votes each and pass a nearly identical bill

I hope not.

yes, people in tight races, D or R, do not want to be for this. but most people in tight races are also largely not in urban districts. many voters angry about this don't understand how the absence of a bailout can affect their lives - and when they figure it out, it might be too late, so it's the kind of problem for which the solution might have to happen faster than it can be made politically sale-able.

and it's like a lot of the "no bailout" pitchfork crowd is just not noticing all the other headlines on the front page or somehow thinks all these things aren't connected.

this assumes they read newspapers.

xp - 'nearly', yeah. more will be dems than reps.

i'm gonna go with krugman rather than tombot here

Also the assumption that nobody in your country except you knows what a 401K is or how it works is really, really pathetic.

I'm not the one lighting up my congressman's phone demanding that he drop a piano on my head.

http://krugman.blogs.nytimes.com/2008/09/29/bailout-questions-answered/

of course it's impossible that paulson and bernanke can be both self-interested and in the right

see the republicans want this bill but they thought they could trick the democrats into passing it on their lonesome so as to run against it - once theyve realized this wont happen theyll scare up the votes needed

Plus there’s a serious chance of a run on the hedge funds, which could make things a lot worse.

Since we've got no choice in the matter, how about we sit back and watch? The more shrill and terrified people get the more I'm loving this. Bunch of ROK/Japanese time travelers.

they'll scare up some more, but they're gonna make the Dems pay more for it politically, no matter what

of course it's impossible that paulson and bernanke can be both self-interested and in the right

In gabbneb land, amateur hour lasts all day

more zings please

I would also love shrill and terrified people if I didn't think their shrill terror could have a non-negligible impact on my standard of life.

There's a chart at the top of this page.

ok, i will jettison my reliance on krugman to listen to the expert Tombot

voting for this bill wont be nearly as politically costly as conventional wisdom has it (weathervane: gabbneb) particularly w/the dems casting the gop as obstructionists w/no plan of their own

And if you can't do the math on your own yesterday's "record point drop" was about half of the Sept 11th slump and a third of black monday.

dude yesterdays drop was obv just recalculating the chances of of the bailout passing from 99% down to 95%

Since I just found the link to rebalance my 401k YESTERDAY, I am not assuming anyone knows less than I do.

I would also love shrill and terrified people if I didn't think their shrill terror could have a non-negligible impact on my standard of life.

you guys, Mississippi will welcome you with open arms if your finances crater. 2500 sq. ft. for $85,000, available on just about every corner.

yesterday's drop was also rating agencies catching up to the math and causing institutional black boxes to flip the sell switch

but whatever let's turn our financial industry into our automotive and airline industries. beacons of fucking business acumen.

My mind has been traversing from pro-to anti-bailout. Bewitched by the piles of money that can save us but then coming to the conclusion that the 700bn won't even scratch the surface of the contraction in money supply. Time for some hard free market and maybe at the end of it we will get a financial system not based on coked up teenagers screaming at each other.

There is still a real economy out there and it is still working but this is going to hurt if you or your employer relies on credit for cashflow.

Yesterday's drop was due to traders not being rational human beings.

Xpost

ha "turn into"

no dude if the credit markets seize up we all die regardless of who we work for

the just desserts philosophy.

How many generations forward must we mortgage to sustain a standard of living for too many people, one which they don't actually deserve?

Some of the alarmists out there might want to take a moment to consider all the ramifications here. It may sound harsh, but the Great Depression produced many things - one of them was called the Greatest Generation.

The great economic boom of the last few decades propped up by dubious credit has produced a generation or two that thinks enough is never enough and if one can't earn it, than you either borrow it, or the government in the form of hard working taxpayers should make sure you get yours in the end.

I'm no financial expert. I realize that without some plan there will be serious pain. But I also know pain is unavoidable in life. And any government that would have its citizenry believe that isn't the case simply isn't telling them the truth.

Unfortunately, our government hasn't been telling us the truth for decades no matter which party was in control. Maybe it's time that they start. However, assuming they won't, it might not hurt for Americans to at least start telling the truth of the greater issue to themselves.

NO ONE KNOWS WHAT THE BAD DEBTS IS WORTH

― rogermexico., Tuesday, September 30, 2008 11:38 AM (1 hour ago) Bookmark Suggest

If no one knows, then why should we give them money?

Please explain to me how this bailout will affect the life of an average US citizen. Keep in mind that

Between 2006 and 2007, real median household income increased 1.3 percent to a level of $50,233

and that
The median household net worth remained statistically unchanged from 2000 ($58,988) to 2002 ($58,905)

http://www.census.gov/hhes/www/income/medhhinc.html
http://www.census.gov/prod/2008pubs/p70-115.pdf

Some of the alarmists out there might want to take a moment to consider all the ramifications here. It may sound harsh, but the Great Depression produced many things - one of them was called the Greatest Generation.

...all of them gov't employees.

so wait should I stop paying off my credit cards in lieu of armageddon y/n

im told if we have a great depression II, ww III will cure it

GOP now officially off the line that Pelosi bullied them out of the deal, round of applause

The money tree must be refreshed from time to time with the blood of shitty financial institutions. (xp)

xp: or just crap in yr hands and throw it at them.

http://www.ilxor.com/ILX/NewAnswersControllerServlet?boardid=47

Monday's Colbert Report was pretty funny on the whole Reptilian/Illuminati/Secret Religions/Economic Destruction case.

How many generations forward must we mortgage to sustain a standard of living for too many people, one which they don't actually deserve?

Plz to note that this fucktard, among others, argues exactly the opposite of this when it comes to climate change.