McCain Says Charge!

don't we want it to fail??? i do... it's a terrible idea. government buying out wallstreet and owning it??

communism???
government owning the economy?

On September 29 2008 16:53 eightfourO wrote: don't we want it to fail??? i do... it's a terrible idea. government buying out wallstreet and owning it?? communism??? government owning the economy?

...

socializing the nation's financial institutions is sick

do not want this bill to pass if it ultimately confers anything like control to the f'ing government

Honestly on this one I don't know enough to make a good argument. All I know is that my gut says "fuck this shit about capitalism on the way up and socialism on the way down" and I think the idiots who fucked up shouldn't get saved, these rich assholes can go fuck themselves. Then I also hear about how these guys crashing down will hit me too as lot's of middle class people lose jobs and something goes wrong with credit. I'm still not sure how it will affect the middle class though and I have a hard time believing that. I mean, they said wall street prosperity would trickle down to help us, now they say wall street pain will trickle down and hurt us... well the prosperity never got here so why would the pain?

And I'm not so much on a side of whether it should pass or fail, I just found it funny that McCain suspended his campaign to get this bill passed (aka he faked a suspension for a photo opp and then took credit for it before it passed) and now he looks like an idiot... like usual.

I think the argument used for this bailout that is suppose to appeal to middle class people is there needs to be credit in our financial system to provide loans to small businesses and middle class/poor people to buy houses (lol!). This is all working under the assumption there isn't enough credit.

Fuck, I think the problem is way too many poor/middle class depend on credit and get into debt that they shouldn't be in in the first place. So it's a good thing if the credit goes away rite? =)

you have single handedly made me political, in the sense that i know whats going on. thank you

On September 29 2008 19:43 k2o4 wrote: Fuck, I think the problem is way too many poor/middle class depend on credit and get into debt that they shouldn't be in in the first place. So it's a good thing if the credit goes away rite? =)

Credit isn't necessarily a bad thing. It's good if you provide it to productive people who can pay it back. If there isn't enough credit in the system then people can't borrow money to expand their businesses (buy capital, take on labor). The thing about this bail out is that it's not even clear if we even need this injection of credit, nor if it will help, nor if it's better than just letting the liquidation to occur/bankruptcy.

but ya, credit is also used for not so productive activities - buying cars, t.v.s, paying for vacations, and houses.

Interesting. Thanks for posting frywad, I'm learning a bit more about this bailout from you than I have from reading the news. No one is talking about WHY or WHAT or specifics, just whether it is failing or succeeding =

On September 29 2008 20:04 Bigbobm wrote: you have single handedly made me political, in the sense that i know whats going on. thank you

<3

Here is an article from the point of a view of a libertarian economist that teaches at Harvard:
http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

The first part is about blaming the current economic crisis on the government. The second part is about why the bail out shouldn't happen.