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Many people seem angry by the bail rejection. Future of the country?
It seems so many people are shortsighted(not necessarily in this forum) but democrats and citizens. It seems that alot wanted the bailout for a few years of status quo if that could possibly happen
and this delay will only worsen the pain when the day of reckoning happens when foreign banks no longer lend us money.
I am extremely skeptical how this could help us long term. It would only serve us from sinking quicker.
The fact is our country is not producing goods other countries want so where is the income coming in versus expenditures going out?
We continue to devalue our own money by printing more.
We expect the people who created this mess to fix it by giving them the power to spend mroe money??
If this country is to last the next 100 years this needs to be fixed now and now overinflated again otherwise we are headed for bad civil times and bad foreign problems where war is a possibility.
I do feel bad for the people who have saved are gettign shafted by the people who did not save and spent. that is not right.
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The team that lost the game and the team that only won one." Dwight White- Steelers
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Re: Many people seem angry by the bail rejection. Future of the country?
I saw a poll last week with either amazingly conflicted or amazingly mature results. Something like 78% of people though the bailout was wrong. Almost the same percentage agreed we have to do it.
I don't really know a damn thing but I'd guess that we're heading for a period of protracted stagflation regardless in the short to mid term regardless of our course of action. Without liquidity -- that is, without a bailout -- I think it's got to be clear by now we're heading for epic job losses to kick the whole party off. I think there would be some delta between the severity of what we're in for based on a "crash landing" versus a "soft landing."
I feel bad for a lot of people on this one... anyone retired and on a fixed income will have their savings slashed when they don't really have a means of replacing income. People a couple years from retirement may have five or (if they're able) ten more years they did not plan on to still work. We know about the people who have lost their homes, and many others who will still do so, even if the government or the private sector is incentivized to address the foreclosure rate. Then there are those in the middle class who can technically afford their payments but are underwater on their loan. I feel bad for the people who will lose their jobs, lots of them among our own little posting family no doubt.
I think you're absolutely right that we just have to make things, at the end of the day. I can think of some obvious examples of things we have to make, including just about everything in the transportation and energy sectors. I certainly could go for a new version of the CCC repairing infrastructure and beginning the next generation of energy construction, if the private sector is unable or unwilling to fund those things.
By the way folks, taxation of the rich is back, whoever you vote for, and the middle class is probably about to lose some perks too.
Turns out you do have to pay to play at some point.