Personally, I think we get "all out depression" anyway... and all of this stimulus only jeopardizes our potential to recover after "taking the medicine". The politicos keep telling us "if we don't pursue this course, the banking system will fail"... What if that is an exaggeration? Only a percentage of banks are at such risk. So, let the fuckups fail and the prudent survivors would pick up the ball and resume.. with greater market share for having not been so stupid and greedy. And if we DID end up with all of this bailout money, I'd have rather still seen the bad banks go bankrupt and have the Gummint use the money to increase the capital of the present good banks... the ones who didn't fuckup... and/or use the same capital to establish NEW banks... they would be unencumbered by toxic assets and could lend. The plan as imposed looks more like a gigantic CYA... because the "wrong people" are losing...
Do you have any easy links regarding Geithner and the Asian crisis? I did a quick google and of course found thousands of links I don't have time for. Thanks.
geithner worsened asian crisis. http://caps.fool.com/blogs/viewpost.aspx?bpid=159105&t=01002663325181093387
I doubt that any government stimulus spending will help the economy. It will more likely harm the economy by increasing the size of government and competing with the private sector for borrowed money. If you have to resort to stimulus spending, there should be a legitimate payback. For instance, when they built the Hoover dam, the money was returned to the people in the form of irrigation and electricity. I don't know exactly what Obama is doing with the stimulus money. I would suspect that he might be doing things like creating housing for the poor. Things like that will be wasted and provide no real return on the investment. If Obama spent money on something like subsidizing solar power there could potentially be several avenues of return. There would be the electricity. There would be less need for imported energy. With lower needs for imported energy you could have lower military spending to protect energy imports. You'd contribute less to global warming. You'd create new jobs and technology.
Oh no, this is the LAST thing they want! Don't you realize that all economic-political events lead to centralization of power in few hands of the elite? Technology has the capacity to free us all - exactly why the governments will always try to supress any tech. developments in a civil area, allowing only military to expand.
A network pays millions in broadcast rights for a big game between two closely matched opponents. Instead of being a barn burner with viewers on pins and needles the game quickly turns into a blowout. Fans begin clicking to different channels late in the first quarter. The panicked network execs call down to the field and ask for the head referee. 'Start calling some penalties on the winning team!! We need this game to be closer! Our advertisers are going nuts, no one is watching this disaster!" Pretty ridiculous, eh? Many businesses who put up big numbers the past decade were beneficiaries of consumers who shouldn't have been spending in the first place. Now the tide has swung. The market place-devoid of gimmickry from accessible credit-will decide what's needed and what isn't. Maybe MCD survives but the overpriced wine bar next door doesn't. Free men exercising free will in a free market. The kind of bullshit proposed by Democrats and BuyLowSellHigh-a funny moniker from a kid who doesn't even trade-is that income redistribution from the government is MORE CORRUPT than the free market. Why should our taxes be raised to pay for a package that dedicates the earnings from our labor to another businessman? Because that guy is "more important?" To who? By what criteria? By who lobbies Congress and the media more effectively? As traders or other independent business people we fund our own retirements. But Obama thinks I should pay more to fund a government workers pension or a UAW pension or a bankers bonus-pensions that are MORE LUCRATIVE than mine. If 14 people in an office are as productive as 20 then 6 people will need to re-skill, re-tool and move on. Just like always. To quote Madonna BLSH's fellow poet from Detroit , "Life is a mystery, everyone must stand alone".
When will commie libs like you just frig off and die already. Next thing you know we will find ourselves in a depression and you idiots will scream how we need a war to get is out of it, just like WW2 got us out of the great depression. A total fallacy by the way. God help us all if we continue down the track of your way of thinking. Free market capitalism is the best solution to this crisis. Liqudate the debt. Let the weak blowup, and let the shrewd pick up the pieces. The collapse will hurt. Yes. But it will end. With buylow's strategy we will need 15 years of pain
There is so much opportunity, right now to make so much fucking money..... There has never been a time like this in my life time, where you can get into "Assets" so low, pick up land, RE, at levels not seen in 30 years. I laugh my ass off reading ET. Does it really matter if we get caught in a "DEPRESSION" or 10 year RECESSION? What can' You" do about it? Economics are local. If you don't have cash, or your not liquid then you'r gona have a hard fight. But at the end of the day, I say bring the DOOM. More opportunities for me to triple my wealth. OBAMA is OBAMA, he is going to Talk the Talk. However, elections are mid term and the socialist, the Dems in Congress are gona loose HUGE! Obama may get some of his agenda through, but at the end of the day, He will be forced to the middle. Wake up, read between the lines. If you have money, there are plenty of places to put it to work and plenty of opportunity for those who have the balls, the knowledge and understand how to make money. The rest are sheep, reading the same story told 800 diffrent ways, by a bunch of idiots who people follow to the slaughter. Only to wake up .....after the opportunity is long gone. As far as the Stock Market, The game is rigged on Wallstreet. Period. Learn to play the game with the right team, you make make a decent living. Cramers interview caused even more damage to the markets image and to "Hedge Fund" activity. The smart money will not roll back into the Stockmarket, ehh for about the next 30 years. And right now FINRA is on a tear, auditing all "Broker" firms and looking for any "Activity". Next will be Trading Firms. The witchhunt has begun.
Sooo... you don't want to fix everything? Even though Fractals' number one rule of investigation is "if something is screwed up somebody wants it that way" ? You just want to grab assets on the cheap so that later you can raise up the middle finger salute to your employer when he asks you to "make the sacrifice for the good of the company" ? That's what you are about ? Dang, I like the cut of your jib !!