Rolling US Economy Into The Shitbin Thread

I wish the suggest ban link took you to a form so that you could specify WHY exactly you think the user should be banned. It would be therapeutic.

If my wife was the heiress of a world-wide corporation that sells booze I would be certain that even if things went to absolute shit, we would still be zillionaires. Probably even more so!

Cos you know, if you're broke and you're unemployed and you're feeling shitty about your country damn straight you want a beer!

http://www.dilbert.com/dyn/str_strip/000000000/00000000/0000000/000000/00000/2000/200/2590/2590.strip.print.gif

Roubini: The risk of a total systemic meltdown is now as high as ever

Mark Steyn invokes Boy George to make a point -- and gets it wrong.

I think that's an attempt at humour.

That man is insane though

A stunned Mr Steyn, squatting on the sidewalk as his saleable goods were taken out of his home and loaded onto the pick-up truck, mouthed: "I'm playing with words you see...is funny..."

"...the market didn't fail me, I failed the market because I did not BELIEVE it could work!"

http://www.economist.com/finance/displayStory.cfm?source=hptextfeature&story_id=12327393

Too Victorian, didn't read

For real. Took me five attempts to parse the first paragraph.

I'm glad he is starting to look haggard, till now he's been looking like he's been getting 10 hours a night through all this.

http://newsimg.bbc.co.uk/media/images/45065000/jpg/_45065272_bush_30_9.jpg

So what do the people on this thread - like Tombot i guess in particular and i forget whoever else - virulently oppose the "bailout" (or a "rescue" eh?) ...what do they propose as an alternative solution for the credit markets? Or do you espouse no activity at all Tom, now that you think "the worst is over," due to the bank mergers being near complete, etc? just curious

in that 1929 article i am supposing that "bank rate" = "interest rate"

I was puzzling that, interbank, discount?

It's Karma, Mr Steyn, which is far more appropriate than what you came up with!

Can anyone think of a good song to do a Wall Street-is-collapsing montage to? I really want to do one and youtube it but I'm having trouble thinking of the perfect song. Not "Bad Moon Rising", not "Instant Karma", I wonder...

ABC/Millionaire

Fortunate son? (or is that just the GWB montage)

Neil Young, gross...

Credence

If you've got the money, I've got the time
We'll go honky tonkin' and we'll have a time
We'll make all the night spots, dance, drink beer and wine
If you've got the money, honey -- I've got the time

There ain't no use to tarry, so let's start out tonight
We'll spread joy, oh boy oh boy, and we'll spread it right
We'll have more fun, baby, all way down the line
If you've got the money, honey -- I've got the time

If you've got the money, I've got the time
We'll go honky tonkin' and we'll have a time
Bring along your Cadillac, leave my old wreck behind
If you've got the money, honey, I've got the time

Yes we'll go honky tonkin', make every club in town
We'll go to the park where it's dark, we won't fool around
But if you run short of money, I'll run short of time
Cause you with no more money, honey -- I've no more time

I still remember the day in the '80s when Reagan told an audience ('84 reelection stumping?), "Today the Dow Jones hit THE MAGIC 1,000 MARK." (Crowd: "Oooooh!")

CAN IT HAPPEN AGAIN?

That's 'creedence', actually. xpost

...and I hate them too.

Hank Paulson - what's on your iPod?

(Tracer, I wish you were here to go playoff TV honkytonkin')

creedence rules haters

srsly

creedence are invincible

Me too Morbs.. then I wouldn't have to miss all the west coast games, which will start at approx. 2am GMT

BST

oh WHATEVER

SNAP

if you don't like creedence, you don't like america, this thread is about the US Economy, i.e. America=stfu

xp p.s. i am coming on your show, you know this, right?

I'm still unconvinced that Congress needs to do something about this. And why is there such a rush to do something? If Americans aren't soundly behind this, as I gather from polls and from what congresspeople are saying (Dems and Republicans), then doesn't this favor inaction while a better case is made for intervention?

Regardless of whether this plan is the correct answer or not, this reasoning makes no sense. The approval of the American people has no bearing on whether action needs to be taken to avert a financial crisis.

http://www.becker-posner-blog.com/

Ooh! "No Money No Honey"!

roubini proposed some alternatives to the bailout plan

http://www.rgemonitor.com/roubini-monitor/253783/is_purchasing_700_billion_of_toxic_assets_the_best_way_to_recapitalize_the_financial_system_no_it_is_rather_a_disgrace_and_rip-off_benefitting_only_the_shareholders_and_unsecured_creditors_of_banks

One J. Goldberg huffs and puffs and then curiously adds:

I loathe populism.

Guess all the Simpsons talk was just a put-on.

The approval of the American people has no bearing on whether action needs to be taken to avert a financial crisis.

Congresspeople represent the American people. If the approval of the American people has no bearing on the decisions of congresspeople, then those congresspeople do not represent the American people. Hence the approval of the American people should bear on the decisions of congresspeople.

Is "Congresspeople" a word?

its got those women-americans in them now

The approval of the American people has no bearing on whether action needs to be taken to avert a financial crisis.

I understand what you're saying, Dan, but this is dangerously close in sentiment to Dick Cheney's "Who cares what the fuckin' polls say?"

caek yes! we still have to decide what story we're going to saddle you with, though. sadly there is not anything else in the lineup with quite the same amount of astrophysics as "pail of air" but we will try.

Congresspeople represent the American people. If the approval of the American people has no bearing on the decisions of congresspeople, then those congresspeople do not represent the American people. Hence the approval of the American people should bear on the decisions of congresspeople.

I understand what you're saying, Dan, but this is dangerously close in sentiment to Dick Cheney's "Who cares what the fuckin' polls say?"

Okay guys: what should we do then, to avert the crisis? Got any ideas?

xp rad.

What I don't get about Jonah Goldberg's column up there is that he criticizes Frank and other Democrats for refusing to give into -McCain's demands- to regulate Fannie Mae and other institutions (and thus save America) ... but then he gives backhanded praise to the Republicans for finally sticking to hands-off free-market ideology. What??

Oh bah. I'll out-Cheney Cheney on this one then: all the people who are busily calling their congressfolk to complain about a "bailout for the wall street fat cats" have no fucking clue what's happening here.

And don't give me that "teh peple is smartier than u think elits!" stuff. No Fucking Clue - those same folks who are lighting up the phones benefited from the bubble and not only encouraged wall street's excesses but demanded them.

we have a republic folks, not a "democracy"