Who thought the bailout wouldnt work....i did

Discussion in 'Economy' started by Itsmethatguy, May 28, 2009.

  1. Itsmethatguy
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    Itsmethatguy Member

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    Okay I know this is an old subject, but I think it needs to be brought up again so we can learn from our mistakes. That money should have never gone to those corporations. If AIG, and others weren't smart enough to save money, put that rainy day money away, and had proper management in terms of where the corporation was heading, they would not need a bailout. I thought the whole idea behind the free enterprise that we have is for big companies to fall and smaller companies to take over. I thought it was all about competition, not favortism.

    My friend figured out that if we were to give that 700 billion dollar bailout, to the American households (thats the key word, not individuals), that were under $70,000 yearly income, combined or not, each household would recieve roughly $23,450. Now imagine a household with that much money, how much they could pay off with that. All that money would circle around and it would eventually get to these major corporations. There would be no houses lost, no cars taken away, and credit cards would be paid off. Wouldnt that boost the economy more?

    I personally believe throwing money to corporations like AIG, and these banks, is like throwing money into a black hole. Not result came from it, and it's gone forever. Oh didn't I mention that those corporations we threw that money at is still seeing losses? So in this economic ressession we are in, was it wise to throw away 700 billion dollars?

    Thats just my opinion anyway.
     
  2. HUGGY
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    HUGGY I Post Because I Care Supporting Member

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    Your friend must be pretty important to have somebody like you going back and forth between him and the internet.
     
  3. AllieBaba
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    AllieBaba BANNED

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    I knew the bailout wouldn't work and I was, along with millions of other republicans, revolted when members of congress voted for it (repeatedly) against the outspoken and public criticism from the constituents.

    Which is why I could give a shit about the Republican Party anymore, and why I quit caring towards the end of the campaign whether or not McCain won. If it had been Sarah Palin running, I would have been gung ho...she wouldn't have voted for it.

    But McCain is a two faced piece apologist who would be so busy placating the libs he wouldn't be able to get any work done. I'm fine with having Obama as pres for a while, to completely disillusion the idiotic libs who thought he was going to make everything right using policies which cannot work.
     
  4. Sweet Willy
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    Sweet Willy BANNED

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    The bailout, although it is easy to dislike and surely had a lot of questionable spending, most likely has staved off a depression style crash. These banks that are now returning the money still can't survive a run and never will be able to survive a run. Anytime that threat appears, it will be cheaper to throw a bunch of money at confidence than to have to pay out depositors from the FDIC. If you really want to see the dollar collapse, let them fail. The FDIC would have to borrow a spectacular amount of amount of money. 700 billion would be baby food.
     
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  5. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    The recession was absolutely necessary, trying to stave it off by wasting hundreds of billions of dollars only prolongs the agony. The recession is the period where the market attempts to correct itself by reallocating resources from failed businesses to more viable areas.
     
  6. Fraulein Hilda
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    Fraulein Hilda BANNED

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    That's a laugh. It has not slowed the decline of the economy a nit.

    If you want to see the dollar collapse, print one or two more trillion dollars for healthcare you can't pay for.
     
  7. Oddball
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    Oddball BANNED Supporting Member

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  8. Sinatra
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    Sinatra Senior Member

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    Sadly, Huggy has no friends....

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    Oh, what shall I post on the Internets today??? Oh they shall rue the day they ever matched witless with the HUGGY!!! I am HUGGY dammit! HUGGY!!!
     
  9. Zoom-boing
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    Zoom-boing Gold Member

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    I thought the auto makers should have claimed bankruptcy months ago. Oh no, they said, bankruptcy is not an option. Billions later . . . . what's that I hear? Bankruptcy? Unfuckingbelievable. It boggles the mind that there simply doesn't seem to be any common sense floating around out there.

    I can tell you that if we had received $23,000 we would have bought a new car. No doubt. Would have also gone on vacation this year. Rented a house down the shore for a week and spent another couple of thousand dollars.
     
    Last edited: May 28, 2009
  10. sealybobo
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    sealybobo Diamond Member

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    Make no mistake about it. If we didn't give the bankers the $750 billion that they demanded, that would have caused many many problems.

    And 15% more people now feel that the economy is on the right track, and is doing better. And we expect to be out of the recession by the end of the year. So if 15% thought so before, now its 30%. Getting better.

    Of course that would suck for you, rush and mitt romney.
     

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