With the US government taking over investment houses, banks, and large insurers, when do you think the US will be practically Socialist? Or will the Treasury go broke first?
Anyone betting on a world wide depression like in the 1930's?
With the US government taking over investment houses, banks, and large insurers, when do you think the US will be practically Socialist? Or will the Treasury go broke first?
Anyone betting on a world wide depression like in the 1930's?
Dolgil Rosethorn
If it's broke, fix it.
If it's not, don't.
If you do not like the results, change your methods.
Quit making the same old mistakes. Make new ones.
It would take the US a very long time to get anywhere near socialism.
Well it appears to me we already have corporate socialism.
Well when it comes to corporations, the US is definatly one of the most socialist. America has the 2nd highest corporate tax rate in the world. No wonder all your corporations are dying horribly.
And how many subsidies & US tax payer bail-outs While the CEO's who ran the company get 100's of millions??!!
Can't keep-up with them Chinese who treat their workers so poorly that their government wont even let outsiders into their neighborhoods. Yea, Free Market at it finest. :)
Last edited by Swirvin' Birds; 19-09-2008 at 16:31.
http://news.bbc.co.uk/1/hi/world/europe/7287071.stm
A lot of CEO's are going to be going to hell apparently.
700 billion US to fix the mortgage debacle. That's a big take over.
Dolgil Rosethorn
If it's broke, fix it.
If it's not, don't.
If you do not like the results, change your methods.
Quit making the same old mistakes. Make new ones.
Be ready to suffer a serious tax increase in order to repay the massive amount of public debt that this is going to create... It's funny that a republican did this, did liberals in US already die? Giving taxpayer's money to irresponsible bankers to prevent them from losing their risky investments can't be called anything less than inmoral. And banning short bets the day futures and options expire to inflate the stock market is clear manipulation to benefit your lobbies.
Next time a banker has to choose between a safe but moderately profitable bet and a highly speculative and risky one you already know what he will do... after all he has nothing to lose, the government will bail him out if he is wrong!
Except they don't intend to take over anything but worthless debt. The financial institutions are going their merry way after selling us their toxic debt.Originally Posted by Dolgil
lol 700 billion is peanuts in a trillions dollar industry, i wouldn't call that socialism at all
still it is a great deal of money and i agree with McCain that there needs to be oversight in the release of these funds, else it is recipe for corruption, in any event though this isn't socialism.
Even Adam Smith said that were market fails the governement should interfere and take over.
Well the market has failed. The U.S. is spending and living above ones station. Honestly how can you expect a good return on your loans and mortgages to (pardon my french) whom would be called trailer trash?
Take Chicago as an example. The city has quadrupled in size over the last 40 years. While some of the huge growth in the housing market is understandable due to the U.S. high divorce rate, this is still by far too high.
Do nothing and this crisis will continue well into the next decade. The bailout will solve part of the prolem by bringing some stability, but specific legislation is indeed needed as well as some oversight as to how the money of the bailout is spend.
U.S. congress needs to do more than it is doing now. They've made a step in the right direction, but it is only a beginning.
this is liberal, socialism hasn't got anything to do with it
Corruption is a serious impediment to civil liberties.
http://www.washingtonpost.com/wp-dyn...091603732.html
Please read. McCain was all for deregulations before he was ever for them. He and his pals helped make this mess.
Why do you think he really canceled the debates? Pulled all his campaign ads? Sure they can stop their physical campaigning but there is no reason they can't continue with the election process with the debates on friday night. They both have personal planes and can fly in and out in very short time. The US is not going to collapse in say what... 12 hrs tops. McCain is panicked. Again he makes rash quick decisions. Once more he shows poor leadership.
Wasn't it the republicans that were saying the economy isn't that bad. It was more just the media scaring people and causing panic? Sara Palin just said in a interview that this very well could be the next Big Depression. Who's causing panic now?
If you really believe that the media was causing panic then surely McCain and Palin in their statements and actions are guilty of the same.
No a vast majority are from the middle class. It's a result of manufacturing and jobs being sent overseas. The middle class is going into extinction. There are very few jobs in the US that are good paying jobs. We are a service economy which means all we really do is 'buy things'. We don't manufacture exports and import everything. This has been going on for decades now.Well the market has failed. The U.S. is spending and living above ones station. Honestly how can you expect a good return on your loans and mortgages to (pardon my french) whom would be called trailer trash?
I agree completely with you there.U.S. congress needs to do more than it is doing now. They've made a step in the right direction, but it is only a beginning.
No, bailing them out is Socialize the losses but Privatize the profits. Most Americans are against the bail-out. I believe the last number I heard was somewhere around the 80% ballpark, of Americans were against the bail-out.this is liberal, socialism hasn't got anything to do with it
I just don't like the 'PLEASE PLEASE PLEASE give us whom already blew the economy up 700 billion dollars right this minute. I can't tell you what we are going to do with it exactly but we need it RIGHT NOW or the world is going to end' crap out of Bush. Kinda how he got us into Iraq. It's always, 'I need action right now and give me everything I want or we are doomed' without taking a step back.
How does everyone liking the idea of having to play the stock market for retirement investments now? I sure do like the social security net don't you? And I guarantee if republicans are elected that will be one of their goals. They will say they can no longer fund it and out it will go. I'll never see all that money that has been put into it over the last 18 years. I'll basically get robbed again...
be specific with regulations
Obama isn't specific and that is bad, besides he is just as much a part of the problem as McCain. So saying that McCain served his palls is first of all utter BS and even if it weren't (as it is), utter hypocrisy.
I'm saying this for like the 1000th time already. You sir are a liar!
Corruption is a serious impediment to civil liberties.
Welcome to any kind of politics discussion (not just the ones on the Utopia politics forum).
lol true, but he certainly takes the cakeWelcome to any kind of politics discussion (not just the ones on the Utopia politics forum).
Corruption is a serious impediment to civil liberties.
What market? That market were the central bank fixes the price of money? How is that somewhere close to a free market? Why don't we have these problems in the PC market, in the automobile market and in the refrigerator market? Have you ever stopped to think that perhaps it's because those markets are much less manipulated by the government than the financial markets?
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