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Thread: What Recession?

  1. #41
    Bikerpunk's Avatar Ill-intentioned bad apple
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    Default Re: What Recession?

    We've got much bigger problems than that, LULZ

    We're so fucked we've no idea. Rather than let bad decisions percolate and companies implode and restructure, we're simply moving the debt burden to the taxpayer. The only thing holding us on by the very tips of the fingernails is the fact that we are a reserve currency - but that's gonna change and is changing hella fast.

    All this bailout is going to lead to is Japan at best, and outright implosion of the USA at worst.

  2. #42

    Default Re: What Recession?

    I Think I know which blueblooders hate Obama now.

  3. #43
    Bacchus88's Avatar Senior Member
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    Default Re: What Recession?

    Bikerpunk...You hit the nail on the head...right on

    Velvet as rebel conservative ( at this point) on blood forums. I am willing to give him chance on the economics only. He has made alot promise there is no way in hell he can keep them. He will get backlash from that to

  4. #44
    Amelia G's Avatar chick in charge
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    Default Re: What Recession?

    Quote Originally Posted by Bikerpunk
    We've got much bigger problems than that, LULZ

    We're so fucked we've no idea. Rather than let bad decisions percolate and companies implode and restructure, we're simply moving the debt burden to the taxpayer. The only thing holding us on by the very tips of the fingernails is the fact that we are a reserve currency - but that's gonna change and is changing hella fast.

    All this bailout is going to lead to is Japan at best, and outright implosion of the USA at worst.

    I'd like to make bad enough business decisions that I urgently need tens of billions of dollars and then get a government hand out for that. Oh wait, no I wouldn't. I'd feel like a loser and thief doing that.

    Bailing out businesses, which the market has clearly determined should fail, has been a bipartisan abuse of the American people. And their future. And their children's future. And their children's children's future.

  5. #45
    Mindgames's Avatar A guy who makes girls
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    Default Re: What Recession?

    Quote Originally Posted by Amelia G
    Bailing out businesses, which the market has clearly determined should fail, has been a bipartisan abuse of the American people
    So what would you suggest instead?

    Personally, if I'm going to feel screwed by the state, I'd prefer to feel screwed indoors than on a park bench.

  6. #46
    Amelia G's Avatar chick in charge
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    Default Re: What Recession?

    Quote Originally Posted by Mindgames
    So what would you suggest instead?

    Personally, if I'm going to feel screwed by the state, I'd prefer to feel screwed indoors than on a park bench.

    Let the market decide the fate of various businesses. The social compact with the state is to prevent people from doing ill to one another, to stop stealing for example. It is not the government's job to keep a broken business open. Let it fail and let its remnants be purchased by a business which can make it work.

    Bank of America got more than one hundred billion dollars of tax payer money. They won't even say what they are doing with it. Does that sound like it is going to keep you off a park bench?

    Give me more than $150 billion and I'll even tell y'all what I spent it on.

  7. #47
    Vexbeast's Avatar Eat me, I'm nutritious.
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    Default Re: What Recession?

    Political spending is never a question of politics, only of a logic deficiency in mob-mentality.

  8. #48
    Mindgames's Avatar A guy who makes girls
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    Default Re: What Recession?

    Quote Originally Posted by Amelia G
    Let the market decide the fate of various businesses.
    That logic works fine if the market is functioning as it's supposed to - if an isolated business tanks, even a huge one (say Enron) the implicit value of the corpse is accepted by the rest of the market. Enron vanished, but we can all still buy gas. In the situation we're in now, the market is not working, so you can't just wait for it to self-right.

    Compare to the '29 crash - the initial runs on stock from Tues-Mon were a natural self-righting market in action, and so they settled out - the injections from the meeting at JP Morgan showed that, as they reversed the trend (briefly). The secondary losses from runs on local banks were not market-led, as the vast majority of the banks that broke were financially sound; they just couldn't compete with the public panic. That's far closer to our situation - it's not an over-valued market that's the risk (sub-prime has pretty much written out by now, interest rates are sensible and the physical economy is running fine) but rather a freeze on credit because of an undefinable feeling of mistrust. Perfectly good businesses are going to the wall simply because they can't get short-term leverage, even though in a rational market they'd be seen as a safe risk. The bail-outs are supposed to fix that, not prop the Dow - in essence stopping the panicked crowds (this time the credit market) running from one street to another wildly grabbing anything that isn't nailed down.

    I'm not saying they're working perfectly yet, but I am saying that without the bail-outs, it's a much steeper slide towards the 100 trillion dollar banknote.

  9. #49
    Ajax Knucklebones's Avatar God fearing atheist
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    Default Re: What Recession?

    Quote Originally Posted by Amelia G
    Let the market decide the fate of various businesses. The social compact with the state is to prevent people from doing ill to one another, to stop stealing for example. It is not the government's job to keep a broken business open. Let it fail and let its remnants be purchased by a business which can make it work.

    Bank of America got more than one hundred billion dollars of tax payer money. They won't even say what they are doing with it. Does that sound like it is going to keep you off a park bench?

    Give me more than $150 billion and I'll even tell y'all what I spent it on.
    If you look into the history of the Great Depression, what you want the government to do, is exactly what they did before the depression hit. Let the market straighten itself out. Well...As you can see in history, that was a big, big mistake. Is what the government is doing now, going to stop the US from going into a depression? Only time will tell, but one thing is for sure; Just sitting idley by and doing nothing will definietly work us right into a depression.

    As I have said before, I think in alot of ways the banks (Mostly the real big ones) are using these funds not in the way they were supposed to. BOA is a perfect example, but I also think that just letting all the banks fall by the wasteside, creating another run on the banks like in 1929, is not the way to go. Don't be fooled. I'd say about 80% of banks today are in some kind of trouble. It's not like doing nothing would just wind up hurting and closing a few banks. As Americans, the whole banking system would be fucked if the government does nothing.

    I always hear everyday (since I'm in the biz)..."Fuckin' greedy banks!" Was it greed that caused all these problems. For the most part, yes, but unless you're a mom and pop business, greed is always involved in business. Be it banks, or pretty much any other business you can think of.
    Greed. Sad, but true.

    Can you name me one industry that greed is not somehow involved?

  10. #50

    Default Re: What Recession?

    Again. Industries are like living beings. In this case they are hermaphrodites.

    But to not go in to detail, you seem like you know what you're talking about. Now I really hope Obama sees this. But who knows, maybe he's already posting here for years.

    Let's make it happen. terrorists, Bin Laden, weapons of mass destruction, all kinds of religious fanatics and child molesters are bad. I thin we all agree on that.

    Obama, read this or a very bad curse is going to hit you.

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