Hi to everybody...here's an alternative view to the bailout...basically it's saying that Japan tried exactly the same twenty years ago and it didn't work and has taken twenty years for them to recover....
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SeasideMan
Pro - 2008-10-02 @ 21:12:16
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jenray
Pro - http://www.jenniferhunter.co.uk
- 2008-10-02 @ 23:07:28
Yes, I know what it is, I just wanted to put up a view of those opposed to the bail out as well as those for it...LOL...I'm neutral in this...
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playwrite27
- http://www.davidtennant.blog.co.uk
- 2008-10-02 @ 21:33:02
I keep trying to tell people that this WON'T WORK. It's a sticking plaster for a gaping sword slash to the belly!
But, everyone's busy screaming and running around in a panic and not listening one whit to the few people who AREN'T screaming and panicking, and are saying that this won't do anything more than slow down what's absolutely inevitable--in fact, it could actually make things WORSE for Americans, 10 or 20 years down the road!
Of course, the Brits and everyone else affected by this, whose NOT your average American taxpayer, don't care about Americans paying and paying and paying for this bailout, for the next thousand years, so they join the chorus in condemning naysayers like myself.
Arrrgh! You know, this is EXACTLY like build up to the Iraq war, you know that, don't you?
Everyone listening to the screaming idiots, and putting down the quiet, calm, rational naysayers. In the buidup to Iraq, I was listening to weapons inspectors and humanitarian workers--people who'd actually BEEN to Iraq and knew the difference between reality and propaganda.
Well, Bush-Paulson are the propaganda, and CATO and many economic professors and other rational experts who are able to step back and see the WHOLE prior history/long-term picture, are once again being put down and shouted down by the blind, deaf and dumb, totally freaking out masses.-
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SeasideMan
Pro
- 2008-10-02 @ 21:51:05
What solution would you suggest then, Nancy?
Tom. -
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jenray
Pro
- http://www.jenniferhunter.co.uk
- 2008-10-02 @ 23:16:18
All I know is, the American financial system is like a ball of tangled up string, impossible to untangle now, it's such a mess and has been for years, a bail out now of 700 billion is probably just going to complicate it even more and certainly won't be enough to fix anything...The Cato Institute might be right in its assessment, but I bet all of them are pretty wealthy and will ride a major recession, which their solution will trigger off, unlike the majority of Americans who will suffer a great deal...problem is, the bail out still won't stop a recession, but the American people will be a hell of lot poorer if it goes through...either way, the ordinary person in the street will be the loser....
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technomist
- 2008-10-05 @ 11:02:43
I think the American taxpayer should pay for this. Its their country and their economy at stake.
They can't keep issuing treasury bonds (the polite way of what we would call in an African country 'going cap in hand to the international community for loans'), which is what they have been doing for the last decade to fund their massive military machine without it affecting their lifestyle.
I do feel sorry for the ordinary person who will be paying for this. America needs a more progressive tax system. -
The Cato Institute are a self-proclaimed "libertarian think-tank". Their primary goal at all times is to make governments look as bad as possible, and that means any government. I find it interesting that they choose to push the "socialism" aspect in this, as that's a hot-button term in America that is certain to get coverage, as they clearly did.
The point it's hard to escape from is that things would almost certainly be worse without the bail-out.
Tom.