RE: How many Bailout Plans will it take for you to give up on the idea (Full Version)

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Sanity -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:28:51 PM)


The amount of bogus money that is being printed is mind boggling:


quote:

The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.


http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok




Jeptha -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:29:23 PM)

Good question.
I'm a pinko liberal, so I'm not too bothered by spending on infrastructure and stuff that seems like it could be a potential investment. For instance, I like those old programs like the CCC and WPA from the last Great Depression.

The bailout parts of the package seem like a different animal, though.
I'm not sure if those are sound investments or just throwing more money down a hole.
(Well ~ we know it actually doesn't go down a hole. It doesn't just disappear; it's lining somebody's pockets.
In that sense it's going down a hole.)

The fact that it's all being railroaded through so fast seems like a bad sign to me, too. I'm not sure if really sound financial planning can be done in such a hurry.




TNstepsout -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:29:32 PM)

quote:

ORIGINAL: NeedToUseYou

quote:

ORIGINAL: TNstepsout

What makes you think they aren't working?


http://www.google.com/finance?client=ob&q=NYSE:BAC

http://voices.washingtonpost.com/economy-watch/2009/02/sen_warner_taxpayers_could_see.html?hpid=topnews

a million more links at request......





The first one is a link to a stock chart. I don't see the relevance.

The second is an article stating that the prices paid for assets were too high. It doesn't seem to be anything about whether it's working or not.




TNstepsout -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:30:47 PM)

quote:

ORIGINAL: StrangerThan

quote:

ORIGINAL: TNstepsout

What makes you think they aren't working?


Because... we're doing another one?



Maybe the first one wasn't big enough.




subtex -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:34:50 PM)

quote:

ORIGINAL: Sanity
Judging by the stock market reaction to the Obama plan, stimulus isn't necessarily synonymous with "stimulus" is it.


I think the market reaction is partially in response to the administration talking about how bad the economy is.  The can't say everything is fine and then justify spending the money.  So last night when I was watching Obama talk about how bad it is I thought to myself  "the market is going down tomorrow".  I've been doing some charting lately and according to what I was seeing the market was poised to go down today anyway.  So maybe it was sort of a double whammy.  Maybe once it gets started wall street will like it.  I'll be waiting and watching.

Bill





Sanity -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 8:38:38 PM)


Really, the stock market has been declining ever since it became apparent that a radical socialist was going to be the Democratic nominee.




Cagey18 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:02:56 PM)

quote:

ORIGINAL: StrangerThan

Yes, we have a different word for it this time. I do understand that.

If nothing else, I understand how many words can and will be twisted, polished, and brayed to the public to put a different shine on what is essentially, the same bullshit with more pork.


Ah.  I see you *don't* understand the difference between a bailout and a stimulus plan.  (different concepts entirely, not just "different words", btw).

And hence your posts are "the same bullshit", as you put it.  Nice try, but fortunately some of us have really good "shine" detectors.




Cagey18 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:05:37 PM)

quote:

ORIGINAL: Sanity
Judging by the stock market reaction to the Obama plan, stimulus isn't necessarily synonymous with "stimulus" is it.

Strange days...

Let's see, the stimulus plan got passed when, exactly?

Oh right, it hasn't been passed yet.

How forgetful of you.





Cagey18 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:15:18 PM)

quote:

ORIGINAL: Sanity
Really, the stock market has been declining ever since it became apparent that a radical socialist was going to be the Democratic nominee.

Wow, three amazing pieces of bullshit in one sentence!  Great job!

1. That Obama is indeed a "radical socialist".
2. That the stock market actually agreed with point #1.
3. That the stock market's decline is due to point #2.

You continue to impress. [sm=applause.gif]





StrangerThan -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:15:52 PM)

Call it whatever you want. The concept is, throwing more money into the economy when we did that once. I'm not sure what's hard to understand about that.

Stimulus is something intended to encourage a reaction, in this case to stimulate the economy with bailout money, civil work, New Deal type thinking, a host or two of pet projects. The bailout was intended to stimulate the economy by trying to inject cash and enough optimism to loosen the strangle hold on credit markets. It is the same intent, some of the same tossing of money down holes, with a lot more pork.

We're somewhere around a trillion and a half dollars going into a black hole created by greed, bad legislation, bad legislators and a whole shitload of no responsibility. If I need to understand anything else, please enlighten me.




Cagey18 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:26:45 PM)

Actually I'm calling it what it is, not "whatever I want".  Words have meaning.  Avail yourself of them.

Some enlightenment:

Same intent doesn't mean it's the same concept.  It's the difference between, oh, me giving a friend money to prop up his failing business, vs. me spending money on a construction project that will create jobs.  Both might help the local economy, but certainly not the same concept.  One is something I view as a necessary "giveaway", the other actually adds direct value and I expect to see a concrete result (a constructed building, not just jobs).

The banking bailout was to inject cash into the banking system, but not to "create optimism".  Optimism doesn't help credit markets one whit.




Sissy4Mistress61 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:45:48 PM)

"Bailout" and "stimulous" are 2 different words with different meanings, but if you know anything at all about politics, especially in our modern era then you would have to understand that words are often used solely for the purpose of making something that wouldn't be desired seem desirable.  In this case "stimulous" and "bailout" are the same thing, MASSIVE amounts of pork, "make-work" jobs that will dry up as soon as the funds that are stolen from the people to pay for this garbage dry up.  And you do realize that there's already another "stimulous" package in the works by our now famous tax cheat, Geithner, the new Secretary of the Treasury which by coincidence is over the IRS, the very agency that would have us mere mortals in jail for what he's getting away with. 

I do wonder when the people of this country will wake-up, grow a brain and say "ENOUGH!"  The economy was in a recession when Bush 43 (2001) came into office, it was in recession when Clinton came into office (1993) and it was in recession when Reagan came into office (1981).  The economy has a natural cycle of about 10 years, at which time it will enter a recession and recover on its own as long as the private sector is allowed to grow and create jobs as has happened on all 3 of these listed occasions. 

The government DOES NOT create job growth, it can only take and that's exactly what's happening here.  In 2007, the last year on record, there were 98 million tax returns filed (IRS numbers, not mine).  With a $800 billion-$900 billion bailout and rounding that number to 100 million tax payers (just because it's close and easier to work with) that's $8,000-$9,000 per tax payer in additional debt that will be signed into law in the next few days or weeks.  No one in their right mind (no pun intended) can believe that if you gave this money back to the people that paid it to the government in the first place that it wouldn't create a much stronger economic stimulous than anything that the government can do with it.

As for the "worst economy since the Great Depression" how is it that in 1980 all 3 of the major indexes (unemployment, interest rates, and inflation) were much worse than they are now?!  As recently as 2000 (Clinton's last year) the unemployment rate was higher than it is now.  This is according to the Bureau of Labor Statistics, not something that I'm making up. 

I'm not trying to point out that Obama is a horrible person, only that he's doing horrible things to the economy.  I'm not trying to paint Bush 43 as wonderful, he's not.  I'm simply pointing out that there are some people out there that don't understand what is going on with the economy and our current political situation.  This has been building for decades, more government, more laws, more intrusion into our every day lives; it's not something new.  Always remember, a government that is strong enough to give you anything that you want is strong enough to take away everything that you have.  If they can take away your freedom of speech (McCain/Feingold, Campaign Finance Reform Act) and take away the money that YOU earn, then they can take away your right to freedom of expression (whether that's a good caning or any other sexual kink).  If you don't believe that then you're fooling yourself.

And in case you're wondering who the hell I am, I have a BA in both history and political science and an MA in political science.  I'm not a genious, but I do have something on my wall that says that I know (or should know) what's going on.




NeedToUseYou -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:58:15 PM)

quote:

ORIGINAL: TNstepsout

quote:

ORIGINAL: NeedToUseYou

quote:

ORIGINAL: TNstepsout

What makes you think they aren't working?


http://www.google.com/finance?client=ob&q=NYSE:BAC

http://voices.washingtonpost.com/economy-watch/2009/02/sen_warner_taxpayers_could_see.html?hpid=topnews

a million more links at request......





The first one is a link to a stock chart. I don't see the relevance.

The second is an article stating that the prices paid for assets were too high. It doesn't seem to be anything about whether it's working or not.



Well, the first was to illustrate that the stock market is still tanking hard. BAC was above twenty dollars, when the first bailout package went through. Now it's in the 5.00 dollar range. I hardly call that a success, as the whole reason for the bailout was to keep the financial deck of cards from collapsing. 20 to 5.00 dollars, seems like a collapse to me, and that indicates there is little confidence in financials still, or else the money would be gushing in at these prices.  Thus indicating another disaster "lockup" is a breath away.

The second was to illustrate the waste, unless you consider overpaying outrageous amounts, helpful to the taxpayer.

I consider the government overpaying for assets a failure to protect the taxpayer. I also consider a free fall in confidence in banks, and financials in general, as reflected in the stock prices a failure of the stated objective. "restore confidence in the financial market".  As if people were even remotely confident many of these financials would be triple there current value at least.

If you are satisfied with those results, at least you won't be disappointed with anything.




shannie -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:58:25 PM)

Are we at a point where giving money to banks and other corproate entities, no strings attached, is okay -- but spending it on highways is 'pork?'

No wonder all these politicians quit talking about the "social security crisis."  They realized they don't need an excuse to funnel public money into private banks -- they can just GIVE the money to private banks.  The Ameican public is all for it!

Let's face it, Obama is continuing the Bush administration's legacy of pimping this country out to corporations, but he's just adding a few public works projects to make it look good.




FullfigRIMAAM1 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 9:59:53 PM)

I think 5, but would think about stopping at 4.  [8D]   M




Cagey18 -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 10:01:58 PM)

quote:

In this case "stimulous" and "bailout" are the same thing, MASSIVE amounts of pork, "make-work" jobs that will dry up as soon as the funds that are stolen from the people to pay for this garbage dry up.

Perhaps with your MA in Political Science you can explain where pork and "make work" jobs were in the banking bailout.

And perhaps your three degrees on your wall can show us how you know Timothy Geithner to be a "tax cheat".  And can show us which two quarters had a falling GDP (definition of recession for those without such advanced degrees) for the recession you allege existed in January 2001.




TheUtopian -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 10:47:01 PM)

quote:


Let's face it, Obama is continuing the Bush administration's legacy of pimping this country out to corporations, but he's just adding a few public works projects to make it look good.


Nicely said.

I've said from the very beginning : You are who you hang around with.
And from the onset, Obama has surrounded himself with a bunch of phony-ass, white-shoed, hundred-dollar-haircut MF's from Wall Street. His administration is filled with Clinton retreads and Wall Street punk-asses.

And for the record....I fully support infrastructure creation in the form of high-speed rail and alternative engergy. On the other hand though, I've been foaming at the mouth hoping we'd get to see a full implosion of the banking/financial services industry, including chain-reaction ''shuttering'', with cops in riot gear needed to fend off angry mobs. This industry desparately needs to be clensed of all the crooks, and then fiercely re-regulated.

Hell....with Goldman-Sachs as his largest campaign contributer, and Austen ''The Ghoul'' Goolsbee as his cheif economic strategist, how could anyone in their right mind ever think we'd see *real* change?

A poster in another thread mentioned that Obama was a ''creation'' of the media ---- I disagree. Obama is creation of ''finance capital'' --- not the media.







- R





mozartsfuneral -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 10:51:40 PM)

So question, how would you all fix the economy? I'm just as curious on that idea as to the bail out idea...




TheUtopian -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 11:23:38 PM)

quote:

ORIGINAL: mozartsfuneral

So question, how would you all fix the economy? I'm just as curious on that idea as to the bail out idea...



Heh.....First of all, I'd see to it that the country goes into a ''default-mode'' with every single one of our creditors. And since I'm going to the bargaining table on behalf of the American people, I'd orchestrate a plan/impose a policy, that stipulates no creditor shall receive more than 8 cents on the dollar for any/all debt incured. Take it or leave it{and trust me - they'd have to take it. No country in the world is capable of going to war with us and winning}

Then I'd shit can this whole hocus-pocus nonsense of ''globalization/free-trade'', and go back to producing ninety-percent of that of which we use/consume.  I'd engage in even-handed, balanced, ''fair trade '' practices with countries like Japan, Australia and the EU.

I'd officially declare an end to both the ''War on Terror'' and '' War on Drugs'', and I'd pull the troops out of Europe, Korea, Iraq and Afghanistan.

I'd implement an immediate plan/mandate that takes all government owned/occupied buildings off the grid--- or at least eighty-five percent off---by 2015.


Most of all......I'd stop sucking corporate cock and get into the corner of the American people.

That's just for starters.....






- R




MrRodgers -> RE: How many Bailout Plans will it take for you to give up on the idea (2/10/2009 11:52:48 PM)

quote:

ORIGINAL: NeedToUseYou

I'm truly curious about this. It seems there are many that still are for more government bailouts, stimulus etc... For the record I have been against everyone so far, and will be against all of them no matter what,  but that is not the question. The question is for those that are supportive of such measures, let's say the current round comes and goes, and its another failure, and proven to be ineffective or wasteful like the first one was. So, will you again, support it, if they propose that the sky will fall yet again without it.

The essential question, is how many times, will it take before you lose faith that the government can fix this mess. Or is there essentially no limit, as in an answer such as "it will depend on the circumstances", as there will always be a circumstance they can use to try to justify it, so that is effectively saying no limit.

Personally, I would think more would be against government spending now, than the first but it appears that many have decided to give it another chance since the president changed. So, I'm just wondering, what the tolerance is here for what in my mind, is the outright theft of money, which by the way, is adding to the debt.

Thanks.

In a way we are stealing money from the future. As for not having the money we are spending, it is not stealing...it is taxing and borrowing, borrow and spend.

It will be difficult to answer your question in my mind because the situation is bad and getting worse yet still nowhere near a depression and I feel relatively deep but short-lived. So we will come back (economy) eventually with or without the stimulus bill.

The success or failure of this bill will be hidden in the breadth, diversity and shear size of our economy. Add to that, only a few banks going down, our cash such as it is...is still there, add our social insurance, severence, new companies (fewer yes) will start. This may take a year or more but it will happen either way.




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