Why the Yanks are so worried about the bail out
September 29th 2008 23:31
Do the maths
700 Billion Dollars divided by the population of the USA of 300 Million
That is: 700,000,000,000
divided by: 300,000,000
The answer is : 2333.333
That means every man woman and child has to folk up $2,333.33 to keep the economy afloat.
I would be pissed too.
No wonder they got nervous in passing the bill.
700 Billion Dollars divided by the population of the USA of 300 Million
That is: 700,000,000,000
divided by: 300,000,000
The answer is : 2333.333
That means every man woman and child has to folk up $2,333.33 to keep the economy afloat.
I would be pissed too.
No wonder they got nervous in passing the bill.
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Comment by S.L.
The Political Brief
Comment by Damo
For the Sake of Argument
My Apologetics
It happens all the time.
If company is big enough it can drag others down with it.
Comment by KylieW
Celebrity Obsession
Comment by Damo
For the Sake of Argument
My Apologetics
What are you going to do?
I am waiting for the US dollar to drop before I purchase anything from ebay.
Comment by Cibbuano
20/20 Filmsight
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Fat Cult
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The idea makes me sick to my stomach - the govt pulled back regulations to let the bankers make more money. Fine - then accept the risk. If the banks have the power to pull down the entire economy, though, then they shouldn't be allowed to take those risks. Am I right? Am I wrong?
The worst part is that no one really knows if the bailout is a good idea or not. Yes, all the financial institutions think it's a great idea: "Yeah, yeah, buy all our failed investments. Do that. That'll save the economy and my private jet"
But who can you trust? The Economist is plugging for a bailout, but can we really consider their advice to be objective? I don't think so.
Where does the money from the bailout come from? China?
Comment by Damo
For the Sake of Argument
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Thanks for your comments.
As far as has been explained by most of the radio economists (for what they are worth) it appears as though the bailout is more psychological than an actual fix. They USA is worried about fall in credit confidence which will stop banks from lending.
One figure quoted was that wealth consist of ratio of 30 to 1. Credit to actual assets. That to me looks like one very big house of cards.
However if the banks stop lending then the economy stops dead. Many companies draws wages on credit as they wait for their major creditors to pay.
So imagine you have a son who gets drunk and wipes off your Ferrari. The insurance won't pay. So you are stuck with a big bill for something that you did not cause.
Unfortunately I think the USA is over a barrel and they can't do much else.
Comment by D. Armenta
The Florida Keys and Everglades
The Black Sheep Chronicles
What constitutes bad manners?
The male mystique
Debate Fan
L.A.M.P.
I'm doing my damnedest to tell everyone here about independent pres. candidate Ralph Nader, who offers practical solutions ...yet gets no airtime and is blocked from the presidential debates.
Comment by Damo
For the Sake of Argument
My Apologetics
Thanks for your comments.
I am not going to complain about you campaigning for Nader on orble because there is a whole chorus of people campaigning for Obama and McCain. What is one more?
BTW do feel better after they passed the bill to spend your money to save people who lost your money?
Comment by D. Armenta
The Florida Keys and Everglades
The Black Sheep Chronicles
What constitutes bad manners?
The male mystique
Debate Fan
L.A.M.P.
It's not so much campaigning as pointing out that there are other options. A two-party system doesn't work when both sides want the same thing.
Feel better?! Hell no. Why do you think I'm bringing Nader up all the time? I'm sick to death of the whole tap dance between the Big Two. Nader wants all the parties involved in that royal scam of a bailout to be held accountable, and he outlines how he'd do it.
Comment by Damo
For the Sake of Argument
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'In a plural dominated system, why throw you vote away?' says Kang.
Comment by D. Armenta
The Florida Keys and Everglades
The Black Sheep Chronicles
What constitutes bad manners?
The male mystique
Debate Fan
L.A.M.P.
Kang has bought into the party myth that Americans can't change the system.
He omitted the rest of it: Cynical, complacent and uninformed Americans can't change things.
The rest of us can.
Comment by Damo
For the Sake of Argument
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America can't change?
In my universe I think presidents should be like Governor Generals.
Heads of state with no real power.
Good for cutting ribbons and little else.