Discussion in 'Political Discussion' started by weswelker#83, Sep 27, 2008.
'Hall of Fame for Congress'!
YouTube - Defazio "We shouldn't be rushed into this!"
very good points. I never understood why it was urgent that we had to do this overnight. it was like they were trying to convey an image of chaos and panic and world wide destruction if it wasn't rushed through.
I never had respect for people who try to prey on other people's fears
If it breaks down this weekend, we'll all find out. According to most people I've seen/heard, we'll see a catastrophic breakdown not just in the stock market but in the financial system overall. We survived the last part of last week on the expectation of a deal; if that expectation goes away - well I'd prefer not to find out if the predictions are correct.
This is just way too important to rush in provisions that allow one guy ultimate power with no oversight. I'd rather the stock market suffer a little for the short term if it means we aren't stuck with a bunch of pork and no genuine reform.
I'm not going to pretend that I know what would happen if talks break down. But from what I've read there's a lot more risk than "the stock market suffer a little". Predictions ranging from a 50% stock market drop to no cash in many ATMs to a virtual stop of credit for everything (home loans, car loans, business loans).
I don't actually need any of those things right now and a stock market crash would be a great buying opportunity for me (I'm 41 so I have about 20 years before I'd need it) but some of the talk scares me for the country.
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