Originally Posted By Mr X Here's what Rep Brad Sherman of California, member of the House Financial Services Committee, had to say. <a href="http://uk.youtube.com/watch?v=h9gtf6nT3zg" target="_blank">http://uk.youtube.com/watch?v=...tf6nT3zg</a> If true, wow. Are they trying to protect the dollar on this or something?
Originally Posted By Sport Goofy I can't get too outraged over something like that. Foreigners own a huge part of our debt. Congress is really hoping the debt pyramid scheme isn't over, and the only way to continue it is to appease the likes of China, Japan, and Saudi Arabia by keeping their losses in this whole disaster to a minimum. If foreign countries stop buying our debt, it's absolutely game over for the U.S. economy.
Originally Posted By Mr X I agree that it's a reality, I'm just sick of people (including ignorant reps) claiming that this is "all about saving main street".
Originally Posted By Sport Goofy Well, it's sorta about main street. It's about perpetuating a lifestyle of consumption for the folks on main street -- whether they have the means to consume anymore or not.
Originally Posted By Skellington88 whats ironic is the clowns who thinks this is going to save housing. There are people who think once this bailout gets passed they can keep asking millions of dollars for a home they bought 10 years ago for $500,000.
Originally Posted By Mr X Asian markets and Wall Street Futures tanked immediately on the Senate news, by the way. Wouldn't it just be the funniest thing if the lucky 777 Monday was NOT because the bailout failed..but because it was so close to SUCCEEDING????
Originally Posted By Sport Goofy Anyone who thinks housing will be saved hasn't paid attention to the unsold inventory levels lately. Still a lot of houses that are sitting unsold, and that means buyers have the power to bid lower on their price. Probably another year or two of price declines before things settle out.
Originally Posted By Mr X "unsold inventory" Funny..on first glance I read that as "Unsavory". Weird, huh?
Originally Posted By mawnck What hasn't quite sunk in yet with most people is that no bailout plan is going to prevent the next couple years from sucking. Too much credit was recklessly extended to Wall Street, Main Street, Sesame Street and Electric Avenue, and now we all gonna pay for it. At best, the bailout (or rescue or whatever they want us to call it now) is like spreading foam on the runway for a plane whose landing gear has fallen off. Hopefully everyone will survive the landing, but your carry-ons will definitely have shifted regardless. (PS - next person that mentions Main Street in connection with this bill, please try to imagine that I have thrown a big virtual coconut creme pie right at your nose. Cause enough's enough.)
Originally Posted By Mr X ***At best, the bailout (or rescue or whatever they want us to call it now) is like spreading foam on the runway for a plane whose landing gear has fallen off. Hopefully everyone will survive the landing, but your carry-ons will definitely have shifted regardless.*** Excellent analogy. Although my fear (and my belief) is that, to adjust your analogy a bit, they are spraying the foam into the ocean after the plane has already ditched..rather than sending out divers.
Originally Posted By hopemax My analogy the last few days has been: We're in a plane that is going down and all we have are parachutes with holes. We can try and patch some of the holes, and hope it's enough so we survive the landing. We don't have the ability to patch all the holes. The longer we quibble about who doesn't deserve a parachute at all, the closer we're getting to the ground, and no one has a way to land the plane safely.
Originally Posted By RoadTrip I don't give a crap about the foam or parachutes because whatever happens to the plane; I figure I will still be able to swim. If not, it won't make me much difference for very long.
Originally Posted By Mr X ***I figure I will still be able to swim. If not, it won't make me much difference for very long*** And if we slam into a mountain instead?
Originally Posted By mawnck >>And if we slam into a mountain instead?<< Man, our pilot must REALLY suck.
Originally Posted By Sport Goofy << I figure I will still be able to swim. If not, it won't make me much difference for very long. >> How long can you keep up the swimming?
Originally Posted By vbdad55 <And if we slam into a mountain instead?< John Denver's no longer flying
