Currently, my television is repeatedly sending me the message that "we must act quickly" on the bailout package to avoid "dire consequences."
If it is true that we have come to a "point of no return" where swift action is required immediately, why didn’t these very smart people who are now FULLY AWARE of the crisis facing America notice it sooner and make the general public aware of the impending crisis?
Logic would indicate to me that this plan is being rushed through as quickly as possible in order to avoid Congress making changes to the plan.
Logic would indicate to me that the Administration is using scare tactics to keep people from closely investigating the plan and educating themselves about it.
Are we really to believe that these financial geniuses didn’t see this coming (or did see it coming and did nothing) and we are now on the precipice of doom?
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Currently, my television is repeatedly sending me the message that "we must act quickly" on the bailout package to avoid "dire consequences."
If it is true that we have come to a "point of no return" where swift action is required immediately, why didn’t these very smart people who are now FULLY AWARE of the crisis facing America notice it sooner and make the general public aware of the impending crisis? |
How would they do that ? Different corporations failing caused this problem.
Did see it coming.
Allowed time for market forces to correct themselves.
Market failed.
Government intervenes at the 11th hour.
It wasn’t possible for the Government to intervene at an earlier time?
And if they saw it coming, no one told CNN et al and informed the public
CNN is on and I just heard someone say "financial Pearl Harbor"
The administration would never do something like this and call it the "Patriot Act".
"Financial Pearl Harbor sucked and I miss you"
Errr… sure they have. I’ve been linking stories in DIAC for many months now.
thats the thing - people HAVE been saying it but it fell on deaf ears (NA NA NA NA FREE MARKET WILL CORRECT ITSELF)
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Errr… sure they have. I’ve been linking stories in DIAC for many months now. |
you know the average person doesn’t have the attention span to read a news article
i’m talking about television, the holy grail of media
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Currently, my television is repeatedly sending me the message that "we must act quickly" on the bailout package to avoid "dire consequences."
If it is true that we have come to a "point of no return" where swift action is required immediately, why didn’t these very smart people who are now FULLY AWARE of the crisis facing America notice it sooner and make the general public aware of the impending crisis? Logic would indicate to me that this plan is being rushed through as quickly as possible in order to avoid Congress making changes to the plan. Logic would indicate to me that the Administration is using scare tactics to keep people from closely investigating the plan and educating themselves about it. Are we really to believe that these financial geniuses didn’t see this coming (or did see it coming and did nothing) and we are now on the precipice of doom? |
That’s because this is just another false-flag operation. Starting on 9/11/2001, it was a "terr’rist attack" that prompted a rush for our Civil rights. Now it’s a "market implosion" that is prompting a rush for our real estate. This shit is straight out of history and the communist manifesto.
we dont have a free market, numbnuts shitcock gobblejizz
Here’s what Ron Paul had to say about it 6 years ago.
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U.S. House of Representatives July 16, 2002 Mr. Speaker, I rise to introduce the Free Housing Market Enhancement Act. This legislation restores a free market in housing by repealing special privileges for housing-related government sponsored enterprises (GSEs). These entities are the Federal National Mortgage Association (Fannie), the Federal Home Loan Mortgage Corporation (Freddie), and the National Home Loan Bank Board (HLBB). According to the Congressional Budget Office, the housing-related GSEs received $13.6 billion worth of indirect federal subsidies in fiscal year 2000 alone. One of the major government privileges granted these GSEs is a line of credit to the United States Treasury. According to some estimates, the line of credit may be worth over $2 billion. This explicit promise by the Treasury to bail out these GSEs in times of economic difficulty helps them attract investors who are willing to settle for lower yields than they would demand in the absence of the subsidy. Thus, the line of credit distorts the allocation of capital. More importantly, the line of credit is a promise on behalf of the government to engage in a massive unconstitutional and immoral income transfer from working Americans to holders of GSE debt. The Free Housing Market Enhancement Act also repeals the explicit grant of legal authority given to the Federal Reserve to purchase the debt of housing-related GSEs. GSEs are the only institutions besides the United States Treasury granted explicit statutory authority to monetize their debt through the Federal Reserve. This provision gives the GSEs a source of liquidity unavailable to their competitors. Ironically, by transferring the risk of a widespread mortgage default, the government increases the likelihood of a painful crash in the housing market. This is because the special privileges of Fannie, Freddie, and HLBB have distorted the housing market by allowing them to attract capital they could not attract under pure market conditions. As a result, capital is diverted from its most productive use into housing. This reduces the efficacy of the entire market and thus reduces the standard of living of all Americans. However, despite the long-term damage to the economy inflicted by the government’s interference in the housing market, the government’s policies of diverting capital to other uses creates a short-term boom in housing. Like all artificially-created bubbles, the boom in housing prices cannot last forever. When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing. Perhaps the Federal Reserve can stave off the day of reckoning by purchasing GSE debt and pumping liquidity into the housing market, but this cannot hold off the inevitable drop in the housing market forever. In fact, postponing the necessary but painful market corrections will only deepen the inevitable fall. The more people invested in the market, the greater the effects across the economy when the bubble bursts. No less an authority than Federal Reserve Chairman Alan Greenspan has expressed concern that government subsidies provided to the GSEs make investors underestimate the risk of investing in Fannie Mae and Freddie Mac. |
Unbelievable, isn’t it?
Funny that Fannie has been around for 70 years without problem, well, until banks found a way to profit from shitty loans……
I wonder what the REAL fundamental cause would be.
That guys a fucking nut job, why would you want someone like that running the US in times like these.
the market didnt fail, it needs to continue correcting but if it does alot of people are fucked so the goverment is stepping in.
"Let’s Apply Some Logic"
- Alex Jones link
- 9/11 conspiracy theories
If you want a pure socialist/fascist economy.
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Funny that Fannie has been around for 70 years without problem, well, until banks found a way to profit from shitty loans……
I wonder what the REAL fundamental cause would be. |
Banks have profited from really shitty loans since they were created. Cash advances with 99% profit.
Nowhere near the same as "hey, you mean I can give out whatever loan I want to these guys with a 400 credit rating and then someone will actually BUY this P.O.S. from me for mad moniez and I won’t have to worry about his failure to pay?"
It’s not a free market economy when ANYONE can pull a $500,000 loan out of their ass. No capital, that’s where we failed.
what specifically makes you say that?
isn’t that where we are going anyway?
I think that the governmental powers that be either
a. didn’t see it coming
b. knew it was coming but didn’t want to take political heat, or cause any kind of panic if they fessed up
either way, investigate them for criminal charges, for negligence and/or fraud.
as far as the bailout goes, buying assets at inflated prices was tried before, and didnt work. JP Morgan tried it after the October 1929 crash, as did many other wealthy individuals, and it didn’t stop the depression. Since the depression, and our current mess, were caused largely by people paying more for things than they were/are worth, why on earth do people think it’s a good idea to keep doing this?
Our govt/Fed has been trying to smooth out the bumps to avoid the massive depressions and rises that come with a captalist system. Put the brakes on when it starts to rise, try and throw some gas on the fire when it starts to slow down, etc… Tossing in cash when the "free market" doesn’t correct itself, is just another similar procedure.
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Currently, my television is repeatedly sending me the message that "we must act quickly" on the bailout package to avoid "dire consequences."
If it is true that we have come to a "point of no return" where swift action is required immediately, why didn’t these very smart people who are now FULLY AWARE of the crisis facing America notice it sooner and make the general public aware of the impending crisis? Logic would indicate to me that this plan is being rushed through as quickly as possible in order to avoid Congress making changes to the plan. Logic would indicate to me that the Administration is using scare tactics to keep people from closely investigating the plan and educating themselves about it. Are we really to believe that these financial geniuses didn’t see this coming (or did see it coming and did nothing) and we are now on the precipice of doom? |
WTF get this Logic shit out of here..this is OT
Just kidding man.
no shit
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Did see it coming.
Allowed time for market forces to correct themselves. Market failed. Government intervenes at the 11th hour. |
Market is trying to correct, but the administration, in all its infinite insanity, is sending mixed messages about how much market failure is acceptable. Companies made stupid decisions and deserve to pay for it. Instead, the government is going to bail them out with $0.7 trillion. WHAT the FUCK!?!?
"Free market" can’t be free with all of that government action.
People don’t want freedom, they want security and safety. They want to freedom in name only - at the first sight of danger, they abandon those ideas as if they are toxic.
We’ve known this was going to happen for atleast two years, now all of a sudden we have to pass the bailout.
Bend over, you’re gonna get shafted, thats what this hurry up means.
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We’ve known this was going to happen for atleast two years, now all of a sudden we have to pass the bailout.
Bend over, you’re gonna get shafted, thats what this hurry up means. |
"Please don’t think! Just act! Rely on your FEELINGS, not your brain!!!"
I learned in school about the advertising methods used to get you to buy into stuff… remember those? Like Assertion (Act now, or the economy will collapse!), Bandwagon (everybody’s doing it), etc.
I wonder if they quit teaching those? Seems like a lot more people buy into that shit now than used to.
i dont think so. but i dont the gov’t pressed this type of advertising this significantly back then either.
the majority of people have always been stupid but i think the government is much better at capitalizing on it now
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