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Politics Are we heading for a global economic collapse?
- Thread starter SDNR
- Start date
I could careless! My money's invested in the safest most rewarding stock out their!!
Gullwing
Chicane Challenger
Wow Pelosi really screwed things up today. She got up before the vote and said it would not pass, which turned several votes... causing it not to pass. If she had not said anything, it might have passed.
Even after the vote she had to open her mouth again, and during that half an hour or so the Dow dropped another 150-200 points. Once she shut up it started to go back up for a while.
Pelosi was blaming everything on the republicans, yet 95 democrats voted no also. Seems both are too blame.
Even after the vote she had to open her mouth again, and during that half an hour or so the Dow dropped another 150-200 points. Once she shut up it started to go back up for a while.
Pelosi was blaming everything on the republicans, yet 95 democrats voted no also. Seems both are too blame.
warot
Track Technician
Before, I kept saying that this hasn't affected me TOO much, but this is troubling to say the least. Obviously I'm in the car industry and this just doesn't bode well at all.
On top of that, there's still a shortage of gas in the SouthEast. Good thing my Bimmer sips gas when babied. So glad I filled up last week before this shenanigans went down... hopefully my half tank will be ok for now.
On top of that, there's still a shortage of gas in the SouthEast. Good thing my Bimmer sips gas when babied. So glad I filled up last week before this shenanigans went down... hopefully my half tank will be ok for now.
SDNR
Kraftwagen König
I think it is far too simplistic to blame the Bush administration for this entire mess -- it has been brewing for a very long time. The truth is, it is the result of recklessness, greed (in some cases), ignorance, and a lack of personal responsibility by millions of individuals.
Germaniac
Tarmac Traveler
No, no, I'm not saying that... I just feel that by fostering so much expectation and hope in the bailout plan (to the point where he stated the "entire economy is in danger" if the package wasn't approved), this contributed in a big way to today's huge market downturn? (ie, if so much fuss hadn't been made about the bailout package, its lack of success wouldn't have had such a negative effect on the market, to the point where it recorded its biggest single-day drop in two decades).
Of course I am not blaming the whole mess on him.
Gullwing
Chicane Challenger
Main problem that caused all this is the bill that forced banks to give subprime loans so people that couldn't afford a hose could still buy one. Housing prices went sky high and people were still buying homes they could not afford. Once house prices stalled and started falling, oh s**t look what happend.
It was not Bush or even his party who foced this bill.
What does everyone think about Obama's stance on the bail out?
It was not Bush or even his party who foced this bill.
What does everyone think about Obama's stance on the bail out?
Germaniac
Tarmac Traveler
Educate me! Who was it?
SDNR
Kraftwagen König
The credit bubble over the past few years was clearly going to burst -- and decades of "over indulgence" is now coming back to haunt the US. The Bush admin should have seen this coming ....I guess they were preoccupied with something else
BTW, the US public debt is currently $9896619525563.17
U.S. National Debt Clock
Gullwing
Chicane Challenger
Democrats are the ones who pushed through the bill allowing anyone to get a mortgage. They also blocked a Republican attempt to fix it a few years later.
Democrats said the Republicans didn't care about the poor people when they tried to get rid of the bill. Yet this bill forced housing prices sky high screwing everyone.
SDNR
Kraftwagen König
OK, I know you were being facetious -- but it is not very noble to be so unconcerned just because you are not personally affected. This is really going hurt millions of good people.I could careless! My money's invested in the safest most rewarding stock out their!!
Tarek
Cornering Kingpin
Mr. Mercedes
Premium
Is that 9 trillion or 98? the numbers blurred my eyes
9 trillion.
Yet the biggest component of the US budget is still military spending.
Tarek
Cornering Kingpin
Yet the biggest component of the US budget is still military spending.
Killing is far more interesting than helping
SDNR
Kraftwagen König
I was not attacking you storebrand ...I just think we should be mindful of many people facing severely tough circumstances.
Maybe now the US public will realize the bailout is absolutely necessary. Selling it to the US public as a "bailout" for Wall Street was incredibly bad PR. This is a rescue plan for the US economy. This "Main Street vs Wall Street" mentality is absolutely misguided.
Maybe now the US public will realize the bailout is absolutely necessary. Selling it to the US public as a "bailout" for Wall Street was incredibly bad PR. This is a rescue plan for the US economy. This "Main Street vs Wall Street" mentality is absolutely misguided.
Mr. Mercedes
Premium
I know. I cannot fathom the idea that 'Main Street' would risk a deep recession just because they didn't want to bail out 'Wall Street' (cutting off your nose to spite your face?). But then again these are the same people who elected Bush in the first place.
Gulwings video was very interesting, pointing the finger directly at the Democrats. But surely if it were so clear cut you'd have the Republicans crowing about it?
SDNR
Kraftwagen König
Hmm, well the Republicans can't blame the Democrats for the failure of the bailout agreement -- it was mostly Republicans who voted against it.
Some of the Republicans had made their minds up long ago about voting against the bail out ...not because they resent Wall Street bankers, but because they believe the market should be left to correct itself in a kind of Darwinian way.
Do you really think it is fair and honest to blame her? ....I don't think she had much influence over the Republican votes ...do you? ...really?Gullwing said:
Some of the Republicans had made their minds up long ago about voting against the bail out ...not because they resent Wall Street bankers, but because they believe the market should be left to correct itself in a kind of Darwinian way.
