Bail out of AIG unconsitutional

[Ravi]

You say it would result in a depression, but what do you base that on? I mean, NO ONE knows what would really happen.

I am fully prepared to handle this NOW. I'd rather get it over with, cleanse the excess, and start fresh. It may not even be as bad as the bankers are telling congress. I mean, congress has to be persuaded as always, right? They're not economists, they have no CLUE what may or may not happen. The only ones who have a CLUE, are the world's bankers. They've never exactly had our best interest at heart, have they?

There are many ways to protect yourself. God forbid you had to downgrade your lifestyle for a couple years.

One thing's for sure. I'll be setting myself up to profit from this REGARDLESS how it turns out.

From what I've been reading about this plan online, we are screwed. It seems that we are about to give 700 billion to a bunch of wall street companies that fucked up big time, with no oversight, and all we get in return are worthless pieces of worthless loans. I'm calling all of my Reps tomorrow and telling them I want them to say no to this plan. I may not agree with you on fixing the economy, but I honestly think what Bush is about to pull is dead wrong.

 

[Paulie]

From what I've been reading about this plan online, we are screwed. It seems that we are about to give 700 billion to a bunch of wall street companies that fucked up big time, with no oversight, and all we get in return are worthless pieces of worthless loans. I'm calling all of my Reps tomorrow and telling them I want them to say no to this plan. I may not agree with you on fixing the economy, but I honestly think what Bush is about to pull is dead wrong.

We're looking at around 1.5 trillion dollars spent on this mess so far after this 700 billion which will be printed, with just about all of it either going to a deficit budget or being printed up out of thin air. Even the MSM is admitting this money will be printed and that the government and the Fed Reserve does not have it.

This is NOT a good plan. Doing nothing will hurt. Doing THIS will hurt. No matter what, we're going to be hurting badly from it. I'd rather get it over with now. There's still time for my kids to come out of it living in better times.

And that's the thing. There WILL be better times. We probably NEED to go through it as a population, and learn from it. If the government bails everyone out of the potential problems, people will make these same mistakes again down the road. We should feel the pain from it and learn from it.

We'll be a MUCH better society because of it. We owe that to ourselves and our children.

 

[LordBrownTrout]

I don't think it's that simple, Pauli. I think letting these companies fail would result in a depression that would make the twenties look like a cake walk. I'd rather my kids be healthy now and ready for what the future brings than starving and without health care now.

I'd still like to see the actual plan and know how it is going to work before forming a concrete opinion.

It is that simple. A lesson has to be learned the hard way. We could maneuver ourselves out of this in a few years and it would be nothing like the 20's. Now, when congress tries to print their way out of this, it is very possible to go to a hyper inflated depression in which there is so much money out there that it's worthless. That's why we should let the current bubble fail. We do not....and I repeat DO NOT want a hyper inflated depression. We'll be back into the medieval ages.

 

[editec]

All of this reminds me of my favorite quote from Thomas Jefferson (also my favorite President) ...

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."

I would say Jefferson was rather prescient. This is quite illustrative of what our founding fathers meant in our Constitution. They were completely against emitting bills of credit (debt money as we have today) and explicitly stated so in the Constitution.

Brian

yes and then after they enjoyed their orgy of fear of governance, they went back to the sdrawing boards and created what?

A FEDERAL GOVERNMENT.

Wnat to know why?

Economics.

The net result of having banks issuing specie, and corporations issuing specie, and states issuing species was a plan that, while comforting to those who mistrust central goverments, simply did NOT work.

You can worship the founding fathers only to the extent that you don't understand history.

The floundering fathers did NOT get it all right.

Sure you post quotes of theirs that sound all noble and ideal, but the facts are that they themselves realized they didn't get it all right.

that's EXACTLY why they made it possible for us to change the constitution to begin with.

They knew that they were not GODS.

I suggest you take a tip from them and stop imagining that if we just took a literal approach to a contract that they purposefully wriote in vague terms that everything would work just fine.

It wouldn't.

In fact if we literally intepreted the Constitution as many of you imagine we could, this nation would be a backwater shithole.

 

[LordBrownTrout]

yes and then after they enjoyed their orgy of fear of governance, they went back to the sdrawing boards and created what?

A FEDERAL GOVERNMENT.

Wnat to know why?

Economics.

The net result of having banks issuing specie, and corporations issuing specie, and states issuing species was a plan that, while comforting to those who mistrust central goverments, simply did NOT work.

You can worship the founding fathers only to the extent that you don't understand history.

The floundering fathers did NOT get it all right.

Sure you post quotes of theirs that sound all noble and ideal, but the facts are that they themselves realized they didn't get it all right.

that's EXACTLY why they made it possible for us to change the constitution to begin with.

They knew that they were not GODS.

I suggest you take a tip from them and stop imagining that if we just took a literal approach to a contract that they purposefully wriote in vague terms that everything would work just fine.

It wouldn't.

In fact if we literally intepreted the Constitution as many of you imagine we could, this nation would be a backwater shithole.

I'd take any of the founding fathers right now against the ineptitude that we have in Washington. They weren't gods but they were light years away from the scum that we have now.

 

[editec]

I'd take any of the founding fathers right now against the ineptitude that we have in Washington. They weren't gods but they were light years away from the scum that we have now.

No argument from me on that count.

They were the guys who risked everything to found an empire.

These are the guys who risk nothing to rape it.

 

[gonegolfin]

The net result of having banks issuing specie, and corporations issuing specie, and states issuing species was a plan that, while comforting to those who mistrust central goverments, simply did NOT work.

You can worship the founding fathers only to the extent that you don't understand history.

The floundering fathers did NOT get it all right.

Sure you post quotes of theirs that sound all noble and ideal, but the facts are that they themselves realized they didn't get it all right.

Don't lump Jefferson in with the others that changed the system. Jefferson spent his career fighting central bank authority. His battles with Alexander Hamilton are legendary. Folks like Hamilton were the cause. Folks like Jefferson and Jackson fought to preserve what they knew was right.

Brian

 

[dilloduck]

No argument from me on that count.

They were the guys who risked everything to found an empire.

These are the guys who risk nothing to rape it.

Then why aren't you fighting the system that put them there instead of pretending one half of them is some how better than the other half?