Thread: Bailout rejected! American economy screwed?

Originally Posted by LoveBucket

a rule he himself has failed to follow.

after learning the hard way myself, I'm trying to follow it now.

I find it all very suspicious that this crash and bail out/rescue bill has happened only a few weeks before the elections. Maybe I'm cynical but if this bill is passed won't it absolve much of the mismanagement of the present government by passing a rather large bag onto the incoming government. Seriously, how effective can an Obama led Democrat government be trying to work themselves out from under an extra 700billion in debt?

Why not give every resident in America a million dollars each ? A bloody sight cheaper and the Wall street and banking parasites aren't going to get their fat cat payoffs that way either as they would be excluded from the scheme.

People have money, they spend, it re-awakens the economy,John Maynard Keynes and indeed Adam Smith would I think agree with the idea.Of course that money would be directed away from a wasteful war effort which has drained the U.S.A. both financially and morally.

America is the worlds biggest debtor,what a so called world leading country,following the same road as Mugawbe in his fiefdom, or should it be the theifdom of George Witless Bush and his cronies.

I wonder if Mr.Motor Mouth Xtrafresh and his Israeli mates will help bail out the U.S. ?

Originally Posted by Fortesque Smythe Brown

Why not give every resident in America a million dollars each ?

Sounds great, but I think that is a little more expensive than the current plan.

Lets see 300 million US residents x 1 million $ = $300,000,000,000,000

Never been that good at cipherin, but isn't that 300 trillion?

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Bills are supposed to originate in the US House, but the Senate is going to go ahead and attach this bailout to another bill and vote anyway.

US Senate debate on bailout on C-Span Live now:

C-SPAN2 Live Stream - C-SPAN

The Senate has passed the bailout/rescue package. House whips, chastised by their earlier incompetence, will be herding cats into the "aye" column for a vote on Friday (possibly).

...all our problems will soon be solved.

Originally Posted by Fortesque Smythe Brown

Why not give every resident in America a million dollars each ? A bloody sight cheaper and the Wall street and banking parasites aren't going to get their fat cat payoffs that way either as they would be excluded from the scheme.

1. No, no, no. The bailout works out to about $2500 per person or $8000 for the average family. Innumeracy among the general public is a HUGE problem in dealing with these issues. It seems that once we get past a certain number of zeros on the end, most people are like "a billion, trillion, whatever, what's the difference: its all huge!".

2. America doesn't have any money to give its citizens. It has to either borrow it or steal it from somebody else.

Originally Posted by tomcat

The Senate has passed the bailout/rescue package..

Senate passes $700B rescue; House votes lured - Yahoo! News
Senators loaded the economic rescue bill with tax breaks and other sweeteners before passing it by a wide margin, 74-25, a month before the presidential and congressional elections.

Brilliant. Commit to 700,000,000,000 AND on top of that CUT TAXES. We're all doomed. Our leaders are truly, truly inept morons of the highest degree.

Right. The problem is lack of numeracy. If we had only memorized the rhyming -illions as school children, we wouldn't be in this fix now.

...incisive, yet...somehow, dumb.

Originally Posted by Fortesque Smythe Brown

I wonder if Mr.Motor Mouth Xtrafresh and his Israeli mates will help bail out the U.S. ?

Jesus I wish the Senate leaders would just come on T.V. and apologize to the American people for allowing this situation to get so fucked up rather than taking every opportunity thet can to "thank" their fellow lawmakers for the "excellent' work in getting this thing done.

Unfuckingbelievable.

This thing went to hell on their watch. Let's get some apologies. We'll decide whose done a great job and who hasn't.

Jees.

All the futures are way down, even after this miraculous "rescue'.

Tighten your seatbelts guys. It really doesn't look good to me.

How are people feeling about the baht. I have to make a decision to dump or hold a substantial amount. I'm very inclined to dump for American dollars. Any thoughts.?

Go gold like the Chinese? Consider a bond, mutual fund or Euros?


I'm just spitballin' Russ.

^ Use an expletive against someone?

To be honest, I don't understand the concern nor the urgency, but I will ask who moved it (in the mods room) for ya