700B will help a few companies mostly GS to raise cash and year from now or sooner when market will get to the same point of credit crunch GS will start buying troubled financial companies and banks for pennies on the dollar with taxpayers money.
It's called PRICE DISCOVERY, pops. Put down the crystal meth. The mortgage paper in question, it's worth practically NOTHING. 5 cents on the dollar, like a bad debt that the first few collection agencies could not collect on. You buy up 10 with the hopes that 2 will pay off. Price discovery happens in the free market concept, not socialism. And your lover Bill Gross, won't ever state this truth, because when your earnings depend on claiming that "2+2=5", you will argue to the death that "2+2=4" is blasphemy.
quite honestly im VERY surprised at the public rejection of this bill I though the US sheeple would be happy to get steamrolled at the thought of anything affecting their 9 to 5 lives... I am amazed by the resistance this bill is getting..... I still think it will pass though, but now I have 5% doubt as opposed to zero doubt end of last week.
Democracy is where we let every idiot have a say. It overrated. We would never be in this mess if it was up to me, so I feel confident in saying that there are very few now capable of getting us out of it. And hysterical women ranting about pedro the bodega owner is only part of the problem.
Lol - you think China is booming because it lurched towards more socialism? Have you looked at what happened to places like Singapore, Taiwan, Ireland, Chile, Brazil, China, India once they shifted away from socialism and closed markets towards opening up their economies? How do you think the USA became one of the richest countries on earth? Do you have any examples of a country that saw a major economic boom and soaring living standards after going in the other direction with a huge lurch towards statism? Do you think socialism, communism, or fascism are better systems? If so, feel free to provide some supporting evidence. Free markets are the closest thing to a panacea we have.
It's called "framing" and is well-known for creating biased responses. The Pew survey only offered one side, the Bloomberg survey contrasted both options and asked which to take. Thus the latter is more reliable.
Because of this thing called voting. If there's one thing that can make a politician change their mind, it's the fear of being voted out of office at the next election. And there's one coming up pretty darn soon, capisce?
Sadly Bernanke is not elected. I would just point out that renters are equal citizens to homeowners, and much poorer on average. I see nothing wrong with home prices finally falling to levels where a normal renter in a 9 to 5 can actually hope to purchase their own house without having to take on ludicrous debt levels to do so. Cheaper homes are good for society and the average Joe. If homes cost $1, society would be far better off than if homes cost $1 billion. If you bought a house to speculate on, rather than as a place to live, then it's your hard cheese if your speculative rentier bet didn't turn out as planned. Take the hit like a man, and be glad you can trade up to a larger house at a lower cost in future, whilst others with less $$$ can finally get on the property ladder.
You are highly ignorant. It's almost not even worth responding to your idiocy. The price discovery under the Treasury's plan comes about via an AUCTION. That is a concept that is as about as far away from socialism as you can get. Now go crawl back into your hole, fool.