Page 1 of 2 12 LastLast
Results 1 to 10 of 20

Hybrid View

  1. #1 fannie and freddie are getting bailed out, and the big three could be next 
    http://www.iht.com/articles/2008/09/...ess/fannie.php

    :mad:

    So now fannie's problems and freddie's problems are now my problem too, since they will use billions or maybe even trillions of our tax dollars to bail them out by buying them.

    And if that isn't bad enough, the big three (who are not so big anymore) also want to be bailed out.

    http://www.breitbart.com/article.php...show_article=1

    This is nothing more than socialism for the rich.

    The failure of these companies would be bad for the economy in the short term, but good in the long term, since they will cause money to be used more wisely and efficiently. If people will see that the government will not bail them out, they will not take stupid risks.

    It is not the job of the federal government to protect people, or billion dollar corporations, from their own stupidity.
    Licenced New York State EMT-B
    Reply With Quote  
     

  2. #2  
    Senior Member FeebMaster's Avatar
    Join Date
    May 2008
    Location
    CT
    Posts
    1,008
    It's not socialism when Republicans do it.
    Reply With Quote  
     

  3. #3  
    Banned
    Join Date
    May 2005
    Location
    Hartford, CT USA
    Posts
    2,024
    But, but, but the economy is doing really, really well. All of this is simply the liberal media trying to influence the election! I got mine, what's wrong with you! When I look around, there's just as many cars on the road, just as many people in the malls, just as many people going on vacations (to Sandal's of course) as there ever were. The liberal media is in the pocket of the Dems and this is all lies, lies to you hear!!! :mad:
    Last edited by Cold Warrior; 09-07-2008 at 10:12 PM.
    Reply With Quote  
     

  4. #4  
    Quote Originally Posted by Cold Warrior View Post
    But, but, but the economy is doing really, really well. All of this is simply the liberal media trying to influence the election! I got mine, what's wrong with you! When I look around, there's just as many cars on the road, just as many people in the malls, just as many people going on vacations (to Sandal's of course) as there ever were. The liberal media is in the pocket of the Dems and this is all lies, lies to you hear!!! :mad:
    Actually, the economy is not doing as bad as the liberal media wants you to think. We are not in a recession, but a slowdown. GDP has not stopped growing every quarter, but it is growing at a slower rate. The economy is only officially in recession when there are two consecutive quarters of shrinking GDP, which we didn't have even one quarter of.

    That being said, the housing sector is struggling greatly, and so is the banking system. The automotive industry, is not doing too badly, its just that the "big three" do not manufacture many cars that americans want, and are beholden to unions.
    Licenced New York State EMT-B
    Reply With Quote  
     

  5. #5  
    Banned
    Join Date
    May 2005
    Location
    Hartford, CT USA
    Posts
    2,024
    Quote Originally Posted by mark1 View Post
    Actually, the economy is not doing as bad as the liberal media wants you to think. We are not in a recession, but a slowdown. GDP has not stopped growing every quarter, but it is growing at a slower rate. The economy is only officially in recession when there are two consecutive quarters of shrinking GDP, which we didn't have even one quarter of.

    That being said, the housing sector is struggling greatly, and so is the banking system. The automotive industry, is not doing too badly, its just that the "big three" do not manufacture many cars that americans want, and are beholden to unions.

    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

    Who's to blame for the "spotty patches:"

    1. Congress for the last two years only (or before 1994)
    2. Bill Clinton
    3. Liberal media
    4. Jimmy Carter
    5. Barack Obama

    Got it!
    Reply With Quote  
     

  6. #6  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by Cold Warrior View Post
    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

    Who's to blame for the "spotty patches:"

    1. Congress for the last two years only (or before 1994)
    2. Bill Clinton
    3. Liberal media
    4. Jimmy Carter
    5. Barack Obama

    Got it!
    King George of course is the blame for everything. If you have hemroids, it could be the Kings fault. If Obama is elected, I predict that things will get worse. Then you can rail about the Magic Negro. That will be a welcome relief and then you might see the sky falling. However, every thing will be peaches and cream and your boy can part the waters and make everything okay because it will be Bushy fault.

    When we have another attack on our soil, you can say, damn that Bushy was lucky when he was Prez. That rabbit's foot protected us all. You know, if only he had passed that lucky charm to his successor, everything would have been okay. Let's repeal the Patriot Act and when NYC gets blown up again, it will be all Bushy fault.
    Reply With Quote  
     

  7. #7  
    Quote Originally Posted by Cold Warrior View Post
    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil

    Who's to blame for the "spotty patches:"

    1. Congress for the last two years only (or before 1994)
    2. Bill Clinton
    3. Liberal media
    4. Jimmy Carter
    5. Barack Obama

    Got it!
    All of what you posted is true, but the economy is still growing. Rising inflation and oil prices do not mean that the economy is bad. True, the banks are struggling, but that has to do not with the economy as a whole, but with the mistaken belief that housing prices will never fall, which the banks had until recently.

    By the way, companies that make stuff here and sell them to Europe, like caterpillar and john deere, are doing very well. The falling dollar is not bad for everyone.

    We are now at the end of a bubble, and the situation now is analogous to the end of the internet bubble in 2000. None of the people you listed are to blame for this, and George Bush is not to blame for this either. This situation was caused by two things happening simultaneously:

    A belief held by many that housing prices will continue to rise indefinately.

    China and India rapidly industrializing, and therefore using more oil, making oil more expensive for everybody.
    Licenced New York State EMT-B
    Reply With Quote  
     

  8. #8  
    CU Royalty JB's Avatar
    Join Date
    May 2005
    Posts
    7,922
    Quote Originally Posted by Cold Warrior View Post
    Let's see, markers of a good economy:

    1. Unemployment at 6.1% with job losses for 8 straight months
    2. Feds have to bail out Fannie Mae and Freddie Mac
    3. Foreclosure rate at highest in decades with numbers of past dues still increaing
    4. Price of oil doubles in 12 months
    5. Price of food, impacted by price of oil, skyrockets with some items seening triple digit increases in less than 18 months
    6. 9 bank failures this year to date
    7. Major investment banks writing off up to $30B (UBS) in MBS related loses
    8. Dollar falls to historic lows against Euro
    9. Potential bailout of the Big 3 automakers on the horizon
    10. Trade deficit goes from $369B to $709B from 2000 to 2007
    11. Recession avoided by two consecutive quarters of less than 1% growth, with inflationary offset calculated not to include oil
    Bush spends too much. Everyone knows this. I'm not happy about it.

    Everything else on your list is recent, so yes, I'm putting it all on the 2006 Dem congress.
    Reply With Quote  
     

  9. #9  
    Senior Member Troll's Avatar
    Join Date
    Jun 2008
    Location
    Not Amused
    Posts
    852
    Quote Originally Posted by FeebMaster View Post
    It's not socialism when Republicans do it.
    Neocon Economics 101.
    Nothing helps a bad mood like spreading it around.
    Reply With Quote  
     

  10. #10  
    Senior Member OwlMBA's Avatar
    Join Date
    Mar 2004
    Location
    America
    Posts
    757
    Welcome to the new era of government-guaranteed businesses. First the banks, now the lenders, and next will be the Auto Industry - all failed businesses rescued by the American Taxpayers.
    **** Obama and **** you too.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •