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 Posted: Sat Sep 27, 2008 5:40 pm
Blah. This whole bailout thing seems a bit strange. I don't understand all of what's going on, but I really wish something would be done about the economy. I work full time (full time in meaning I don't attend college) and it sucks having to leave early because they cut your hours. All businesses for the most part are seeing that they're not making that much money and they're cutting jobs and hours. It really stinks. Finding another job is horrible too. If the economy keeps going the way it's going, I don't know what we're going to do. :/
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Posted: Mon Sep 29, 2008 1:27 pm
DJI (Down Jones Industrial Index) just took a 750+ point plunge today, which is awful, but what i think is more important is all the European markets dropped 250 points and the Chinese marketed (Hang Seng) dropped over 820+ points. Interesting times in economics it seems.
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Posted: Mon Sep 29, 2008 6:19 pm
See, this is why I only invest in small-cap technology funds, instead of stodgy old banking instruments.
Still, I'm really glad my parents spent their kids' inheritance on 100 acres & a 7-bedroom vacation house so we'll all have someplace to live if the economy tanks.
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Posted: Mon Sep 29, 2008 7:39 pm
Wonder what theyre going to come up with now that the house shot it down. sweatdrop
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Posted: Tue Sep 30, 2008 3:02 pm
Well, I'm kinda glad they did. Most of Bush's ideas haven't really been all that great for the US.
Hopefully, the second try will be something more amenable to public opinion and a bit less like a right-wing powerplay against, for instance, my damn bank!
Man, I gotta get my money outta Chase! Too bad I just lost my job!
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Posted: Tue Sep 30, 2008 3:51 pm
The economy is going down whether the government does something about it or not... I would rather the government -not- do something because all they would do is make it worse, after all, they are the ones that caused the problem to begin with. The bail-out plan might have propped up the appearance of the market for a short while, but in the end it would still crash, and on top of that, the government would have also had new powers.
What the bail-out plan intended to do is allow the government to buy and sell stocks. They figured they would buy all the useless ones using taxpayer money.... when they run out of that, then they would print more. Then somehow these worthless stocks would become valuable again, at which point they would sell them for a higher price than what they bought them for to make a profit and supposedly return some of these profits to the taxpayers. However, these profits would not undo the damage caused by putting more money into circulation. Plus you can't put value into something that is worthless. Those stocks are worthless for a reason.
If I have to choose between a crappy economy and a crappy economy + fascism, I'll take just the crappy economy.Dameon_Patron_of_Healing I was shocked we even had that kind of money to spare..
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Posted: Tue Sep 30, 2008 7:32 pm
On top of that, I'm hearing that they're going to have to tighten financial regulations more the worse it gets.
I personally don't know much about it. There's way too much information to process, especially since I don't know the history of most financial institutions. I heard from Christian Science Monitor that the $700 billion bailout isn't going to cause much immediate damage (really?) but it would limit spending for the future president in the long run.
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Posted: Tue Sep 30, 2008 10:19 pm
Taxi Mama See, this is why I only invest in small-cap technology funds, instead of stodgy old banking instruments.
Still, I'm really glad my parents spent their kids' inheritance on 100 acres & a 7-bedroom vacation house so we'll all have someplace to live if the economy tanks. Small-cap techs huh?? What do you think of Finsar (symbol FNSR)?
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Posted: Tue Sep 30, 2008 10:21 pm
Harbone Well, I'm kinda glad they did. Most of Bush's ideas haven't really been all that great for the US. Hopefully, the second try will be something more amenable to public opinion and a bit less like a right-wing powerplay against, for instance, my damn bank! Man, I gotta get my money outta Chase! Too bad I just lost my job! Why would you want to remove your money from one of the strongest financial institutions in the world?? Just because they're buying the planet at fire-sale prices?
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Posted: Wed Oct 01, 2008 5:35 am
Violent-Squirrel Let this be a lesson to all countries. Next time your President starts a fake war and rigs an election to get back in power, KILL HIM FOR THE LOVE OF GOD! I blame the Idiots of America...You know who you are! As for the bailout. Screw the corprate world!
I agree 100% with this statement. Give these yahoos 700 billion dollars (which we would be borrowing from China, India, etc. BTW) and they will be back looking for more. Their greed knows no bounds and they have no moral code.
Things without a bailout will maybe be tough for a while, although I'm not sure I believe that boy in the White House who has cried "Wolf" too many times. evil
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Posted: Wed Oct 01, 2008 6:55 am
well my personal opinion on all of this is the American People are getting to political about this. The idea of a creadit crunch to most people that I talk to seem Foregin and unknown to them. To be quite honest I do not think people understand how connected, to use the terminology i hear from people, wall street and main street truly are, and that scares me to be completly honest.
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Posted: Wed Oct 01, 2008 8:27 am
I think the bailout is a very bad idea and the banks and people who got themselves into this mess should get themselves out, not us the taxpayers. NO to the 700 billion dollar bailout.
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Posted: Thu Oct 02, 2008 9:42 pm
Malheureux Harbone Well, I'm kinda glad they did. Most of Bush's ideas haven't really been all that great for the US. Hopefully, the second try will be something more amenable to public opinion and a bit less like a right-wing powerplay against, for instance, my damn bank! Man, I gotta get my money outta Chase! Too bad I just lost my job! Why would you want to remove your money from one of the strongest financial institutions in the world?? Just because they're buying the planet at fire-sale prices? When it comes time to stand up and be counted, I don't want to have to say I went with the bad guys 'cause they're "stronger." I think I've had just about enough of the strong, lately. I don't like that bank and I don't like the service you get. Soon's I get enough together, I'm starting a new account at a credit union. Also, I've always HATED the historical JP Morgan. I'm glad Tesla dumped his daughter. That was his daughter, wasn't it? As for the Credit Crunch, well, I've spent the last 5 years trying to repair my personal credit. It's been a tight time. I'd rather not have my whole damn country going through a tight time just when I'm getting out of debt. I mean, crap! We had a surpluss when I got into debt, now we're teetering on the edge of a collapse when I'm getting out? Screw that!
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Posted: Fri Oct 03, 2008 5:14 pm
I heard the bill actually passed today. It was a close vote in the house, and the senate was a landslide vote for it, despite the fact that most Americans don't want it. Say what you want about the bill, but I think it's a failure of government to vote against the wishes of the citizens.
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Posted: Fri Oct 03, 2008 5:51 pm
Oh, I think we've pretty solidly failed at this point. As a Democratic Party Member, I've just been trying to hold off the inevitable as long as possible.
Happens to every big power, in the end. It's only a matter of time before our version of the Praetorian Guard starts choosing presidents. I'm sure I've already heard an argument or two about how that'd be a "good" thing.
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