Maybe the bailout is the right thing to do

[gonegolfin]

The interesting thing to me is that the American economy has been artificially propped up by a thing called credit". Why is it so imperative that we have "credit"? So that we can continue to live beyond our means? So that banks and other corporations can continue to post profits to look good on Wall Street when in-fact they are just posting artificial profits based on credit that has been handed out to people that can and will default on their instant loan from the credit card company?

I understand that we need to do something now to stop the bleeding, but nobody has addressed the real issue of why we are in this mess to begin with.

I guess you have not been reading my many posts on the topic.

Brian

 

[dilloduck]

I guess you have not been reading my many posts on the topic.

Brian

I still wanna hear you take on the Feds role in all of this. You giving them a pass ?

 

[editec]

This monetary system is corrupt from the getgo.

It insures a perpetual cycle of debt, but more importantly it insures that those who control credit become fabulously weathy since all debt ultimately leads back to them which first get to create the money.

I suspect that this "bail out" simply allows that system to continue for a while longer until the system once again so screws the working class that they can no longer afford to keep the system going.

Unless and until we find a way to actually put people back to work making enough money to carry the debt loans that are the inevitable consequence of this system, this system will continue to have these sorts of meltdowns, folks.

And until I can go to the FED's discount window and borrow at the same rate as the insiders, this system is obviously a CLASSIST system guaranteed to make slaves of most of us for the benefit of a very very very elect goups of families in this nation.

The economic scam is exposed for those of us who understand how beautifully corrupted and ultimately classist this system really is.

The rest of you can go back to sleep content that you and your children will forever be slaves to a class of parasites (and I do NOT mean welfare mothers, folks) whose contempt for your class is probably warranted.

 

[YALLIgnent]

The bailout is not a good idea. It does more of the same thing, that was the root of this economic crisis from the beginning: government regulation on businesses.
More government = more problems.

 

[hatepolotics]

I guess you have not been reading my many posts on the topic.

Brian

Sorry! I actually have not read any of your posts on this subject as I just joined on 10/2/08. I am glad to see that there are others that are on the same page. I just don't understand why so many people either turn away and ignore this or can not see it. What does a person have to do to bring something like this to the surface?

 

[editec]

Sorry! I actually have not read any of your posts on this subject as I just joined on 10/2/08. I am glad to see that there are others that are on the same page. I just don't understand why so many people either turn away and ignore this or can not see it. What does a person have to do to bring something like this to the surface?

You should go back and read gone golfin's posts on things economic.

Where people like myself only understand this issue in the most theoretical way, he actually seems to understand the mechanics of the problem.

I have learned a LOT by reading his posts and then following up by reading more deeply about the specifics to which his posts only alluded.

This place CAN BE, for those of us willing to read deeply and then research using the clues we get here, a very rewarding educational experience.

OR...

...you can join the children whose sole mission here seems to be to besmirch the opposition party, its candidates and supporters.

That can be a good time too, if you're clueless and partisan enough to have complete faith in the two party system.

 

[gonegolfin]

I still wanna hear you take on the Feds role in all of this. You giving them a pass ?

You must be kidding dilloduck. I have been preaching since my time here on these boards (and especially in the last several weeks) that the Federal Reserve is the root cause of all of this mess. Please go back and re-read.

Brian

 

[dilloduck]

You must be kidding dilloduck. I have been preaching since my time here on these boards (and especially in the last several weeks) that the Federal Reserve is the root cause of all of this mess. Please go back and re-read.

Brian

Whatever----I just thought you might want to use this current mess as a way to drive your point home. Some of us dumb asses might understand it a bit more clearly. ( not that it will enable us to do anything about it )

 

[Paulie]

Whatever----I just thought you might want to use this current mess as a way to drive your point home. Some of us dumb asses might understand it a bit more clearly. ( not that it will enable us to do anything about it )

Dillo, Brian's been driving that point home on here for weeks now. There's nary a post from him that doesn't point out the root causes of the problems we're seeing.

 

[dilloduck]

Dillo, Brian's been driving that point home on here for weeks now. There's nary a post from him that doesn't point out the root causes of the problems we're seeing.

Sorry I'm stupid---I understand how the Fed in general is problematic but i haven't figured out the direct connection to this mess other than Greenspan keeping money cheap. He claims he didn't see this coming---Im' having a hard time believing that from The Maestro himself.

 

[Paulie]

Sorry I'm stupid---I understand how the Fed in general is problematic but i haven't figured out the direct connection to this mess other than Greenspan keeping money cheap. He claims he didn't see this coming---Im' having a hard time believing that from The Maestro himself.

It's not just Greenspan. It's been building up since the Fed's inception in 1913.

The business cycles are never really given a chance to cleanse because the Fed always steps in and meddles in the market. I think it's easier for me to understand, simply because I truely believe this is all being done on purpose, and it makes moves like Greenspan has made, make sense. Because I just don't buy for one second that all these supposed "brilliant minds" could be this wrong, when there are so many OTHER brilliant minds who warn of the consequences while the media either ignores or laughs at them. Case in point, Peter Schiff on the housing bubble, or even Ron Paul for the last 30 years.

 

[Paulie]

Dillo, it seems a bit CT'ist, but read about "problem-reaction-solution", "order out of chaos", and "totalitarian tip toe".

Tie what you read about them, into what's going on today, and what's BEEN going on for decades now, and perhaps it may make more sense.

What would the ultimate goal be, you might ask? I really have no idea, but I will guarantee you that WE LOSE.

 

[dilloduck]

I think it's easier for me to understand, simply because I truely believe this is all being done on purpose...

So do I. I'm just not really sure that this 'purpose' is in the best interst of Americans instead of someone else.

 

[Valerie]

Dillo, it seems a bit CT'ist, but read about "problem-reaction-solution", "order out of chaos", and "totalitarian tip toe".

Tie what you read about them, into what's going on today, and what's BEEN going on for decades now, and perhaps it may make more sense.

What would the ultimate goal be, you might ask? I really have no idea, but I will guarantee you that WE LOSE.

[YOUTUBE]ktIECyzf4YM&feature [/YOUTUBE]

[ame=http://www.youtube.com/watch?v=ktIECyzf4YM&feature=related]YouTube - Ron Paul: Who Owns You (Narrated By George Carlin)[/ame]

 

[Paulie]

[YOUTUBE]ktIECyzf4YM&feature [/YOUTUBE]

YouTube - Ron Paul: Who Owns You (Narrated By George Carlin)

Probably heard that rant a million times now, and it's what drives me every single day. I'm not sure how there are still people who haven't woken the fuck up yet.

 

[dilloduck]

Dillo, it seems a bit CT'ist, but read about "problem-reaction-solution", "order out of chaos", and "totalitarian tip toe".

Tie what you read about them, into what's going on today, and what's BEEN going on for decades now, and perhaps it may make more sense.

What would the ultimate goal be, you might ask? I really have no idea, but I will guarantee you that WE LOSE.

I'm pretty sure we will lose too. I thought I'd get my questions in before the CT people just laugh.

 

[oreo]

Just watched a special on Fox News, October 5, 2008.

Unbelievable!

As we know, on Sept. 30, 1999 the Clinton adminstration pressured Fannie & Freddie to lower standards (credit & income) to persuade banks to loan out mortgage money to lower income people & minorities. They went as far as not even requiring down payments. (Easy money raced through our economy--thru new mortgages to refinancing). Not only were lower income & minorities getting homes they could not afford, but others jumped on the band wagon--using this money to buy vacation beach homes.

At this time--government lead by pressuring democrats wanted Freddie & Fannie (government) to back 50% of these new loans in their portfolios to be what we know can honestly say (risky borrowers.)

Wall Street bought up these mortgages in packages to hedge their capital. When housing prices fell--these risky borrowers walked out of the homes they purchased, primarily because they had nothing to lose. No down payment = no investment to lose.

In 2001 the Bush adminstration warned that Freddie & Fannie may be getting out of control. Then again in 2003 the Bush administration brought new legislation in to reign these agencies under control. Then again Allan Greenspan warned. Then in 2005 John McCain sponsored a bill to get tighter regulations on these agencies.

So who blocked these several new pieces of legislation that would have saved us from this 700 BILLION DOLLAR bail-out.

Every time a new piece of legislation was brought up to the banking/finance committee. Every democrat on the board would vote against new regulation, every republican on the board would vote for it. This happened at least 3 different times during the Bush adminstration.

NAMES MENTIONED: Democrat Criss Dodd--democrat Barney Frank--democrat--Charles Schumer whom were adamant that Fannie & Freddie needed no stricter regulations. Criss Dodd being the # 1 donor receipiant of Fannie/Freddie--Barack Obama being the # 2 donor receipiant of Fannie/Freddie.

ACORN--whose sole purpose was to go into banks & scream discrimination--was also a player in this. BTW--Barack Obama is connected to ACORN--& was actually this agencies attorney in his Chicago community organizing days--whom also promoted loans given to people who could not pay them back. (Note that the first bail-out bill that house republicans defeated had $20 BILLION dollars going to ACORN). This outraged them. ACORN is also currently under criminal investigation in several states for voter registration fraud.

There is absolutely no doubt in my mind--who is to blame for this financial crisis. The party who started it, the party who ignored it, & the party who voted several times against any new regulation to reign these agencies in. Democrats

 

[Ravi]

Wow, that's pretty lame pandering even for FOX. Though, since it's you oreo, there's a slim possibility you are lying.

 

[RetiredGySgt]

Wow, that's pretty lame pandering even for FOX. Though, since it's you oreo, there's a slim possibility you are lying.

It is all historical fact you ditz. I guess they photo shopped all those screams and demands that Dodd and Frank made over the years, right? They went in and forged the congressional record to set them up now, right?

The partisan hack here is you and those of you that pretend the Democrats are blameless in this. Now where is Jillian to claim other wise?

 

[MalibuMan]

why should I suffer for things others have done?

Thats how I feel about people on welfare and other free government programs.