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New York, 7:39 PM
Mon Dec 7
48 posts in the last 24 hours
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08/31/09
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08/31/09
I'm thinking that the end result will be something more in line with the former rather than the latter. In which case, many of the individual loans we gave out will end up having been subsidized by those who took loans to begin with. Not such a horrible outcome, all told.
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Whose money is it? It sure as hell isn't "ours." Pointing at those offshore accounts dreaming of all the bridges Congress could build is a pretty sick mentality, but then I guess I don't take perverse pride in being a net negative contributor to the tax base.
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Good point though.
08/31/09
--4,000+ American casualties
--Tens of thousands of Iraqi casualties
--A fractured Iraq that is more of a threat to regional stability than was Saddam's regime in 2003
--A huge black mark on our international reputation
And I wouldn't hold your breath waiting for that "investment" to turn a profit.
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I'm not saying we shouldn't have bailed them out. I don't think we will see our money again. I also find it amusing that the good numbers are leaked without mention of the numbers that suck.
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Additionally, residents of Norwalk and Bridgeport (especially) are also taking it on the chin because many of their residents are employed by manufacturing and other industrial businesses which are closing rapidly.
Fairfield County doesn't merely comprise of Greenwich, Darien, New Caanan and Westport.
08/31/09
Everytime one of you retarded trolls mentions the bailout as "our" money I throw up a little bit. Yes, like no amount of government money has ever been spent on you, directly or indirectly. Like you've never ever taken a single cent of government money. You fuckers act as if the money used for the bailouts were your own personal savings account. Give it up....you aren't going to make it long enough to cash in your SS policy, what with all the right wing/Faux noize/Glenn Beck semen you swallow every night forming a cancer in your gut.
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08/31/09
While the money didn't come directly out of my personal savings account, I won't be able to add as much to my savings account in the future because of the increased taxes I am going to have to pay.
I'm not saying the bailouts shouldn't have happened. I frankly don't know if they should or shouldn't have occurred. But to say that it isn't going to personally cost me, and all Americans who pay taxes, is the height of ignorance.
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I'd love to see the list of countries thriving with higher deficits. I think our definition of managing just fine may be different. Regardless, I'd love to see the list.
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[www.nytimes.com]
08/31/09
I hope you are correct that the automakers will return to profitability. I would love to be wrong about this.
08/31/09
Fordism worked and will work again, and unions will be a part of ensuring that.
08/31/09
Belgium and Italy are your examples of countries that are managing well? I suppose they are if you are into chocolate and shoes; but they don't jump to mind when I think of countries with great financial power or acumen.
08/31/09
Keep in mind that valuing bailouts is not a matter of credits and debits. You're also accounting for potential lost GDP when industries collapse etc., to say nothing of tax revenues and the like that would have been lost. Then you've got hidden costs like the lack of bond market function thanks to how the administration handled the owners of GM's obligations, the general mispricing of risk, and the fact that now we've invited American agency debt into investor analysis of basic corporate operations.
In other words, hey morons, the money and "my taaaaaxes!" are the least important aspect of any of this.
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08/25/09
I'm not saying I had or even have, at this point, a better plan, I'm just, you know, sayin'.
08/25/09
Let's see what got us here:
-keep the cost of lending low
-promote false sense of expanding growth by providing the plebeians ample use of their house/co-op/condo to substitute an ATM
-prop up failing citizens that leveraged their life for a Prius, HDTV, 2nd home in the Berkshires/Poconos, and duplex abode
Outstanding! No similarities.
At least Summers will never take command, I suppose. The Fed would need to subsidize smelling salts to keep his languid person awake for the eventual demise.
08/25/09
My take is that he created a false sense of crisis, transferred a lot of wealth to his friends and then got them to dutifully say that the crisis had passed.
08/25/09
"Never let a crisis go to waste" extends to both sides of the aisle.