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  #16  
Old 11-17-2008, 06:32 PM
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Default Re: Fed launches Two Trillion Dollar bailout

I swear these bailouts get more insane by the minute, and I have no clue why they're deciding to fund another one. The 700 billion dollar one didn't kick up the stock prices at all, so why would this one? Oh, and there's the lovely fact that the car companies and god knows what other companies are all in a feeding frenzy because they want their free money, too. Are they trying to cover the garbage with a landfill here or what?

The libertarian party's looking better every day.
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  #17  
Old 11-18-2008, 10:23 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Larvinator View Post
I swear these bailouts get more insane by the minute, and I have no clue why they're deciding to fund another one. The 700 billion dollar one didn't kick up the stock prices at all, so why would this one? Oh, and there's the lovely fact that the car companies and god knows what other companies are all in a feeding frenzy because they want their free money, too. Are they trying to cover the garbage with a landfill here or what?

The libertarian party's looking better every day.
Um, because the amount used in this attempt is almost tripled?
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  #18  
Old 11-19-2008, 12:10 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Ah Beng I the Pikabeng View Post
Um, because the amount used in this attempt is almost tripled?
The thing is, the bailouts in general have already proven ineffective. The companies have been misusing the money, it's sent a lot of corporations into a feeding frenzy, and the government switched strategies right as they saw their bailout did nothing, clearly showing they haven't planned this out well. Besides, it oversteps the boundaries of the government, IMHO. I've always been more democratic, but the government getting shares of stock in exchange for bailing the companies out is just too left-wing for my taste.

I say let capitalism run its course. Recessions eventually bounce back; the only one that needed major government help was the Great Depression, and this is not even close to Great Depression-scale yet.
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  #19  
Old 11-19-2008, 12:49 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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And yeah Starki...while McCain was more supportive and Corporates oriented...Obama was actually thinking of American Middle Class more. Time will tell who's better/worse, hopefully...

Oh yeah, he was thinking of us, while he was writing yet another book that was trying to further ensure his win and giving us false "facts" about himself.
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@ Both of you: Interestingly, the worst part about this is that the Federal Reserve controls the World Bank directly. So for all we know, our trillion dollars can be going to bailout other countries, such as China and stuff. We may not even know about where our tax payers money is going.

They can easily say "Hey guys, this is just an economic stimulus package ^_^ It's to revive our economy", which they have not stated at all, nor are they talking openly about their intentions to use this taxpayers money.

700 Billion Dollars plus audits are more than enough- then why is there a two trillion dollar bailout, with tax payers money, yet...no audits about thwere this money is going to?
Back on topic - knowing that my family's taxes may be going to another country scares the crap out of me. If I could better share my fears... that means we're giving money to non-allied countries. I could probably understand our money going to England or Israel, allies of the US, but China? Russia? France? Other countries that may, in turn, give us a periled end? God help us all.

I hope this money doesn't go far, because it'd take... centillions of dollars to evenly distribute across the world.

To those who don't know what a centillion is, it's ten to the three-hundred and third power. Meaning a one in the centillions column... and three-hundred and three zeros following it.
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  #20  
Old 11-21-2008, 04:20 AM
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Default Re: Fed launches Two Trillion Dollar bailout

CNBC calculates total tab as of Mid-November.

http://www.cnbc.com/id/27719011

Given the speed at which the federal government is throwing money at the financial crisis, the average taxpayer, never mind member of Congress, might not be faulted for losing track.

CNBC, however, has been paying very close attention and keeping a running tally of actual spending as well as the commitments involved.

Try $4.28 trillion dollars. That's $4,284,500,000,000 and more than what was spent on WW II, if adjusted for inflation, based on our computations from a variety of estimates and sources*.

*References include US National Archive, US Dept of Defense, US Bureau of Reclamation, Library of Congress, NASA, Panama Canal Authority, FDIC, Brittanica, WSJ, Time, CNN.com, and a number of other websites.


There's not much doubt that it may be coming from Tax-payers money. Oh, and there's even an audited table in the link, showing how the money was spent. Four Trillion...and counting...
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  #21  
Old 11-21-2008, 12:28 PM
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Default Re: Fed launches Two Trillion Dollar bailout

Lol. Why have bailouts, then?
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  #22  
Old 11-21-2008, 04:02 PM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Snow Fairy Sugar View Post
We've got the Government spending close to One Trillion of Tax Payers money to bailout others{TARP}. At least, the tax payers may have the chance to benefit.

http://www.bloomberg.com/apps/news?p...oeg&refer=home

Two Trillion Dollar bailout. Using tax payers money. No audits.

``It's your money; it's not the Fed's money,'' said billionaire Ted Forstmann, senior partner of Forstmann Little & Co. in New York. ``Of course there should be transparency.''

And of course, "Mr Change and Transparency" Obama refuses to comment on this. How convenient. That too, with the tax payer's money, after all he was harping about needing transparency in the system. Thoughts?
Obama can't respond, since he is not the president nor in command of these bailouts. He has to respect the deciscions made and stay clear of trying to refute what the current administration is doing.
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  #23  
Old 11-24-2008, 04:10 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Obama can't respond, since he is not the president nor in command of these bailouts. He has to respect the deciscions made and stay clear of trying to refute what the current administration is doing.
Yeah, wait till Bush steps down and Obama takes over him before we say anything.
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  #24  
Old 11-25-2008, 03:33 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Reiji View Post
Obama can't respond, since he is not the president nor in command of these bailouts. He has to respect the deciscions made and stay clear of trying to refute what the current administration is doing.
I was waiting for something to come in the news...sorry for the delay.

http://www.google.com/hostednews/afp...jfJYJUXc4feHgA

WASHINGTON (AFP) — US President-elect Barack Obama and his Democratic allies in Congress are preparing plans for a second massive economic stimulus program that could total as much as 700 billion dollars over the next two years, The Washington Post reported Monday.

There's also a 300 Billion+ economy package for Citigroup. That'll take the total tax payers bill to 5.3 trillion.

You were saying something about Obama staying clear from what's going on?
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  #25  
Old 11-28-2008, 06:50 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Snow Fairy Sugar View Post

I was waiting for something to come in the news...sorry for the delay.

http://www.google.com/hostednews/afp...jfJYJUXc4feHgA

WASHINGTON (AFP) — US President-elect Barack Obama and his Democratic allies in Congress are preparing plans for a second massive economic stimulus program that could total as much as 700 billion dollars over the next two years, The Washington Post reported Monday.

There's also a 300 Billion+ economy package for Citigroup. That'll take the total tax payers bill to 5.3 trillion.

You were saying something about Obama staying clear from what's going on?
Well, they're just plans. And I believe that he can't do much about it right now. But yeah, I always knew that Obama would want to tackle the problem. I mean, it's only natural that you would want to plan for the future... :P
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Last edited by Ah Beng I the Pikabeng; 11-28-2008 at 06:53 AM.
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  #26  
Old 12-04-2008, 12:41 PM
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Default Re: Fed launches Two Trillion Dollar bailout

Anyway, here's something to back-up critics of the bailout.

http://en.wikipedia.org/wiki/Paradox_of_thrift

The paradox of thrift (or Paradox of Saving) is a paradox of economics propounded by John Maynard Keynes. The paradox states that if everyone saves more money during times of recession, then aggregate demand will fall and will in turn lower total savings in the population. One can argue that if everyone saves, then there is a decrease in consumption which leads to a fall in aggregate demand and thus leads to a fall in economic growth.

And people started to become thrifty/became bankrupt. Lesser consumption led to the recession. While there's not much to back-up the theory, except circumstantial evidence, there's far less to disprove it. Right Victoria? :o

And something backing this up.

http://en.wikipedia.org/wiki/Keynesian_economics

To Keynes, excessive saving, i.e. saving beyond planned investment, was a serious problem, encouraging recession or even depression. Excessive saving results if investment falls, perhaps due to falling consumer demand, over-investment in earlier years, or pessimistic business expectations, and if saving does not immediately fall in step, the economy would decline.
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  #27  
Old 12-08-2008, 12:27 AM
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Default Re: Fed launches Two Trillion Dollar bailout

Exactly why you should give people money so that they can spend more and stimulate the economy. And where else will the money come from?
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  #28  
Old 12-08-2008, 04:53 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Ah Beng I the Pikabeng View Post
Exactly why you should give people money so that they can spend more and stimulate the economy. And where else will the money come from?
In order to keep Wall Street riding on its euphoric profits, money has been almost forcibly taken from already-in-trouble-taxpayers. Lets say that you used to pay 500,000$ a year for renting a home for a few years, and then you got tired/out of money and left. The owner of the house can't find more buyers, so the government will forcibly take 500,000 from you, so he can keep getting money, and will be happy. Is that justified?
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  #29  
Old 12-11-2008, 11:25 AM
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Default Re: Fed launches Two Trillion Dollar bailout

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Originally Posted by Snow Fairy Sugar View Post

In order to keep Wall Street riding on its euphoric profits, money has been almost forcibly taken from already-in-trouble-taxpayers. Lets say that you used to pay 500,000$ a year for renting a home for a few years, and then you got tired/out of money and left. The owner of the house can't find more buyers, so the government will forcibly take 500,000 from you, so he can keep getting money, and will be happy. Is that justified?
Good point. The policies are screwed, and chances are it's the Republican party's fault.
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  #30  
Old 12-11-2008, 11:34 AM
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Default Re: Fed launches Two Trillion Dollar bailout

Unions and free trade agreements don't mix. If these companies like Ford and GM get this bailout package, its basically going to go to they can pay off their union workers.

And guys, don't put too much faith and heart on Obama. Too many people are thinking the guy can somehow work miracles just with his presence...
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