“We Don’t Have To Have This $Trillion Bailout Shoved Down Our Throats”

18 Responses to ““We Don’t Have To Have This $Trillion Bailout Shoved Down Our Throats””

1. George on September 24th, 2008 3:51 pm

   So no, anyone who is saying, “Hell No” to the bailout or who wants to take their chances with a recession/depression, you obviously have zero idea of just how bad things really could get if we just allow the planet’s capital markets to dissolve — no matter how much those bastards deserve to lose everything for bringing us to this point.

2. Tom Remington on September 24th, 2008 4:06 pm

   George, I think the idea is that there are other ways than printing money nobody has and giving it to those who screwed it up in the first place so they can do it again.

3. George on September 24th, 2008 4:13 pm

   Through the quarter-century in which China has been opening
   to world trade, Chinese leaders have deliberately held down living standards for their own people and propped them up in the United States. This is the real meaning of the vast trade surplus—$1.4 trillion and counting, going up by about $1 billion per day—that the Chinese government has mostly parked in U.S. Treasury notes. In effect, every person in the (rich) United States has over the past 10 years or so borrowed about $4,000 from someone in the (poor) People’s Republic of China. Like so many imbalances in economics, this one can’t go on indefinitely, and therefore won’t. But the way it ends—suddenly versus gradually, for predictable reasons versus during a panic—will make an enormous difference to the U.S.

   I agree but the Bastards have drug us all down with them! We gotta do something soon or it’s time to pack up some water bottles load up your guns and ammo and head for the hills!!

4. Tom Remington on September 24th, 2008 4:21 pm

   I don’t want to sound like a defeatist but it may come to that. A sudden impact or slow burn could result in the same outcome. This is far too complex. Hell, even the morons who created this mess don’t understand it.

5. jes on September 24th, 2008 5:05 pm

   Tom, I couldn’t agree with you more!

   “Well put:George, I think the idea is that there are other ways than printing money nobody has and giving it to those who screwed it up in the first place so they can do it again.”

   If we don’t start right here with straighting out this mess, it’s going to get worse all over again! You have got to put an end to this usury and corruption and deception or there is going to be no accountability anywhere in the marketplace! These “goons” need to go to jail…after the government takes every dollar they walked away with..and puts it back where it was supposed to go…
   If this bailout occurs, it would be the worst thing imaginable for everyone but the jerks who brought it about in the first place! Stability of the market..BALONEY! This is just pure crookedness….Call it what it is: deception!!

6. George on September 25th, 2008 9:08 am

   ROMANS 1: 28-32,

   Furthermore,since they did not think it worthwhile to retain the knowledge of God, he gave them over to a depraved mind, to do what ought not be done. They have become filled with every kind of wickedness, evil, greed and depravity. They are full of envy, murder, strife, deceit and malice. They are gossips, slanderers, God haters, insolent, arrogant and boastful; they invent ways of doing evil; they disobey their parents; they are senseless, faithless, heartless, ruthless. Although they know God’s righteous decree that those who do such things deserve death, they not only continue to do these very things but also approve of those who practice them (NIV)

   Everyone should take the warning of Gods wrath very seriously, and consider where there hearts will be when (at God’s chosen time) his patience and mercy comes to an end

7. George on September 25th, 2008 9:36 am

   I keep harping about this China/Japan debt because No One is saying anything about it!
   I think your wrong Tom, There is probably about six people in the world who know exactly what has happened, and I’m betting they know the house of cards is about to fall, and are scrambling for props to hold it up.
   Now we can accept that and what the Gov.is trying to do. Or we can refuse it (like they are going to listen to us anyway) take the fall and see what’s left after the dust settles.
   Anyway weren’t we all happy with our cheap interest rates, new cars, flat screen TV, all the new hunting toys and gadgets? Better minds than mine have been warning us for years this was coming. No one would listen we were happy with all that cheap stuff! It’s either take the medicine (with it’s side effects) or suffer the illness. It’s too late now to wine and stomp our feet because we don’t like the cure.

   No one has mentioned it, but if China can’t work in the normal world of free-flowing credit, they will have no choice but to start cashing in all those T-Bills. That alone would be serious enough, but it would undoubtedly cause a run on the Treasury as the world divests itself of dollars, crashing our currency to the point that a loaf of bread might cost you a hundred bucks, or more, within a month.

   That’s pretty much the end of the world as we know it. That’s why you’re seeing such dramatic moves, serious tones and ghostly white complexions on the faces of the folks who know what’s really happening and know they must do something extraordinary soon.

8. Tom Remington on September 25th, 2008 9:46 am

   I won’t say you’re wrong but I will say that China’s role is interesting and you are not factoring in one aspect of it. I have heard already this morning that China has suspended all trade with American banks. Great! Then all imports from China should stop. That action or threat there of will cripple China as badly as we are about to be crippled no matter what we take for pills.

   Also, you must factor in all decision making that those making the decisions and presenting the proposals are just as interested in protecting their own butts from legal action, not necessarily looking out for OUR best interest.

   For me, a real problem that exists is that I still think the majority of Americans are clueless and most could give a crap right now. “let the government take care of it”.

9. George on September 25th, 2008 4:52 pm

   Sad but true

10. glewie on September 25th, 2008 5:49 pm

    HAY what if the feds just gave us all our share of those trilllllions and we did our own do over on everything we have done wrong. over the years we just mite be in better shape when it setteled than if we give it to freddie’s fanny

    failure doesn’t justify a do over every time.

    let it fail then fix whatever comes out of the dust.

    on the whole we the taxed didn’t have much to do with the failure why is it our job to fix.

    I dont by my best frend tires for his car.

    when he wore them out on his own.

11. jes on September 25th, 2008 6:20 pm

    International debts are fickle fairies…. Just stop to think how many international debts owed to us we have “forgiven” and forgotten….I am more in line with Greg on the paper money….it’s like a myth more than a “given” as gold! And as Tom said, when it’s in their own best interests, these debts simply disappeared! And it is in China’s interest to ignore them as their markets are based on ours! Just think of the huge WWII debt we “forgave” Japan…as it was in our interest to do so! Only when there is a concerted effort in “survival” as a country are these debts brought into play….they are leverage in an economic “war” that could be fought if the circumstances warrant it. In that aspect, they are one of the preludes to international war..And in that case, to the victor belong the spoils…

12. Tom Remington on September 25th, 2008 7:22 pm

    GLewie – I’ve heard that scenario before. I heard it this afternoon on the radio and the response from the “braintrust” on the radio was “but you don’t get it. We have to get those banks and such back lending money again!”

    My response to the umbrella laying beside me in the car was, “Isn’t it the lending these guys did what got us into trouble?”

13. Tom Remington on September 25th, 2008 7:24 pm

    I also got thinking this afternoon that I am not a financial expert. Then I thought some more and I said to myself, “Self! You are a financial genius! You’ve come to realize that 2 + 2= 4 and if you have 6 dollars and from that you take away 7 dollars, you’re in trouble.

14. jes on September 25th, 2008 9:37 pm

    As long as that umbrella ain’t talking back, we’ve got no problem!

15. George on September 25th, 2008 10:15 pm

    Now we are down to a $700 billion bailout that is, for McCain and the Republicans, like the Salem witch trials. If you are innocent, you drown, if you are guilty, they burn you at the stake.

    Newt Gingrich says that if McCain votes for the so-called “Bush bailout” bill to keep financial institutions solvent, he will guarantee his defeat. Based on how many conservatives feel about the bill, that may well be true. So there’s the “drowning if you’re innocent” part of McCain’s ordeal.

    If the Bush proposal fails to pass, then panic is likely to hit Wall Street, leaving banks and financial institutions with little working capital; and likely leading to one of the worst economic crises most of us have ever witnessed. That is where McCain gets burned at the stake.

    As is often the case, this entire disaster is likely a combination of strange coincidences, greed and total ineptitude on the part of leaders in government and finance. But we do know that the FBI now wants some answers about these matters as well.

    Oh, and I couldn’t help but notice that the most astute of Obama supporters, the “Sage of Omaha,” Warren Buffett, was ready and willing to scoop up at a fire-sale discount a good portion of Goldman Sachs. Is he really just a sage?

    Sorry. There goes that darn paranoia again.

    Yea Jes, I get this feeling about the Obama too, This ain’t going to go well for any of us.

16. George on September 25th, 2008 10:29 pm

    Just a side note, Not being mentioned at the moment. The FDIC is also looking for a $150 Billion Looks like our savings are going to dry up as well as our pensions. Probably not saying anything to prevent runs on your local banks.

    LET THE GAMES BEGIN!!!

    http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=amZxIbcjZISU

17. jes on September 26th, 2008 5:18 am

    Just another thought, but money just doesn’t disappear..There is always a trail of where it went. Could be hidden well, but is still there. Most important, and right on, where you told of Buffett scooping up Sacks….WHEN SOMEONE IS LOOSING MONEY, SOMEONE IS GAINING MONEY!

18. Tom Remington on September 26th, 2008 8:05 am

    Doesn’t that “lost” money go into a “lock box”? Ha Ha

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