Chicken Little Here...

[TripletDaddy]

Originally Posted by SeattleUte

Two more weeks of this and the American economy will be worth $0!!!

That is when I will swoop in and buy it.

TWISM!

[Surfah]

Originally Posted by TripletDaddy

TWISM!

Hey Shaq!

[BarbaraGordon]

Originally Posted by TripletDaddy

That is when I will swoop in and buy it.

TWISM!

yep.

I still think the ramifications of this situation, either with or without a bailout, are more far-reaching than any of us can predict. I honestly don't even think the "experts" can predict what will become of this mess.

[SeattleUte]

Originally Posted by BarbaraGordon

yep.

I still think the ramifications of this situation, either with or without a bailout, are more far-reaching than any of us can predict. I honestly don't even think the "experts" can predict what will become of this mess.

So then why give them $700 billion?

[MikeWaters]

Originally Posted by SeattleUte

So then why give them $700 billion?

the difference here is that one side (the anti-bailout side) is saying "we don't know what will happen", while the pro-bailout side is saying "we know exactly what is needed, and what is going to happen."

Sometimes ignorance is evidence of intellectual honesty.

[BarbaraGordon]

Originally Posted by SeattleUte

So then why give them $700 billion?

Did I suggest we should?

[Surfah]

Originally Posted by BarbaraGordon

yep.

I still think the ramifications of this situation, either with or without a bailout, are more far-reaching than any of us can predict. I honestly don't even think the "experts" can predict what will become of this mess.

I agree. Very scary times. I'm sure you'll see lines of credit shrink. Think about what could happen if all of a sudden small companies or individuals will be maxed out because their limits will be reigned in. Their credit will be damaged for carrying too high a balance and probably will have no cash or liquid assets to pay these down right away leading to numerous bankruptcies, unemployment, foreclosures, and the failure of more financial institutions.

[MikeWaters]

Originally Posted by Surfah

I agree. Very scary times. I'm sure you'll see lines of credit shrink. Think about what could happen if all of a sudden small companies or individuals will be maxed out because their limits will be reigned in. Their credit will be damaged for carrying too high a balance and probably will have no cash or liquid assets to pay these down right away leading to numerous bankruptcies, unemployment, foreclosures, and the failure of more financial institutions.

Maybe the problem is that families really ought not carry 50,000 dollars in credit card debt.

Instead of the problem being that they can't increase that credit card debt.

[SeattleUte]

Originally Posted by MikeWaters

Maybe the problem is that families really ought not carry 50,000 dollars in credit card debt.

Instead of the problem being that they can't increase that credit card debt.

This happened because the entire country is living beyond its means, in the macro. That's what happened no matter how you look at it.

We've been paying those fat cats tens of millions of dollars a year of borrowed money.

They were churning, generating short term paper gains to justify their (cash) bonuses, not caring about consequences tomorrow.

Generating transactions is all they cared about because that's how they got paid.

Have you ever heard of baseball baptisms? That's what this was like, to a tee.

[TripletDaddy]

Originally Posted by Surfah

Hey Shaq!

Shaq actually stole that from Tony Montana.

He's a bubblehead.