BF2S Forums House vote failing, Dow crashing

Go repubs!

holy fuck i would never have thought i would have ever say that.

m3thod wrote:

Go repubs!

holy fuck i would never have thought i would have ever say that.

Same, I'm happy it hasn't gone through. It's like, you need to let this shit happen. It's better in the long run.

Interesting how all these Politicians are running around scared because of November elections. They know this is what is going to decide if they stay or go. I like watching them actually work harder because they may not have a job soon. May actually mean we don't get too screwed on this deal when it actually gets done!

PureFodder wrote:

{M5}Sniper3 wrote:

Hurricane2k9 wrote:

I don't think this bodes well.

It would be worse if this passed.

We are still in for a rough time though.

I've been hearing word that it may be better for the average American if the bailout fails.
http://tpmcafe.talkingpointsmemo.com/20 … /#comments

$8 trillion housing bubble. (It was remarkable how many so-called experts somehow could not see the housing bubble as it grew to ever more dangerous levels. It is even more remarkable that many of these experts still don't recognize the bubble even as its collapse sinks the economy and the financial system.) The decline in housing prices to date has already cost the economy $4 trillion to $5 trillion in housing equity. This would be expected to lead to a decline in annual consumption on the order of $160 billion to $300 billion.

He got that pretty damn right. There is a necessary correction happening in the pricing of homes. The speculators and investors that used homes to rack-up massive profits from 2000-2005 - need to have their bubble burst. Plain and simple. Any attempt to stall the fall of these massive increases that occurred (like in Calif. and Fl.) will only stall any recovery. Some people who made a lot money speculating need to loose a lot of money.

Did Cantor just bash Pelosi ?

Boehner accused Pelosi of Partisan politics ...

Well, well, well. Some senators and congressmen finally showed some balls. That bailout was nothing but fucking window dressing. You can't magic yourself out of a market correction. Ultimately it would have amounted to printing more dollars because a) the American public would not have been taxed extra to cover the cost and b) public spending would not have been reduced sufficiently to cover $700bn. This is a victory for Americans, even though it might not seem so for the next year or two. Let the free market do its thing - society isn't going to collapse.

Last edited by CameronPoe (2008-09-29 11:59:32)

Pierre wrote:

Mek-Stizzle wrote:

m3thod wrote:

Go repubs!

holy fuck i would never have thought i would have ever say that.

Same, I'm happy it hasn't gone through. It's like, you need to let this shit happen. It's better in the long run.

Do you guys have any idea what is going to happen if the bill isn't passed in the very near furure? Have you ever heard of the Great Depression? This is a repeat from those days.

It's now in the hands of the senate to rearrange the bill and send it back to the house, that may very well take some time ... maybe not on this side of the election ...

Pierre wrote:

Mek-Stizzle wrote:

m3thod wrote:

Go repubs!

holy fuck i would never have thought i would have ever say that.

Same, I'm happy it hasn't gone through. It's like, you need to let this shit happen. It's better in the long run.

Do you guys have any idea what is going to happen if the bill isn't passed in the very near furure? Have you ever heard of the Great Depression? This is a repeat from those days.

Have you ever heard that the Fed. might have actually caused the great depression? And, factually it contracted the money supply during that period prior to recovery. Did you ever hear the one about Americans being put to back to work (on a New Deal) and working itself out of the depression and the Fed. getting in-line and expanding the money supply where it counts most - when spent on work.

Hurricane2k9 wrote:

lol, the front page of CNN.com is an epic facepalm

topal63 wrote:

Pierre wrote:

Mek-Stizzle wrote:

Same, I'm happy it hasn't gone through. It's like, you need to let this shit happen. It's better in the long run.

Do you guys have any idea what is going to happen if the bill isn't passed in the very near furure? Have you ever heard of the Great Depression? This is a repeat from those days.

Have you ever heard that the Fed. might have actually caused the great depression? And, factually it contracted the money supply during that period prior to recovery. Did you ever hear the one about Americans being put to back to work (on a New Deal) and working itself out of the depression and the Fed. getting in-line and expanding the money supply where it counts most - when spent on work.

I thought building war machines for world war brought us out

"oh noes i will have to sell my Ferrari and 90 ft yacht...whatever will i do"

Pierre wrote:

So in the not so long run this will have effect on employment.

This shit needs to sort itself out. Artificially propping up a house of cards will only lead to bigger pain in the longer term. No amount of asset sales could possibly recoup the colossal ocean of worthless debt that tax money would have been used to buy.

Last edited by CameronPoe (2008-09-29 12:03:29)

Locoloki wrote:

topal63 wrote:

Pierre wrote:

Do you guys have any idea what is going to happen if the bill isn't passed in the very near furure? Have you ever heard of the Great Depression? This is a repeat from those days.

Have you ever heard that the Fed. might have actually caused the great depression? And, factually it contracted the money supply during that period prior to recovery. Did you ever hear the one about Americans being put to back to work (on a New Deal) and working itself out of the depression and the Fed. getting in-line and expanding the money supply where it counts most - when spent on work.

I thought building war machines for world war brought us out

That was a different expansion (the military industrial complex) - the new deal began in 1933 the War ended in 1945.