On Sun, 2009-08-02 at 14:42 -0700, keith smith wrote:
> Some think deregulation was a factor. Bailing out thosw who made bad
> decisions is even worse.
>
> We should have let GM and Chrysler go bankrupt at the get go. We
> should have held those accountable for risky loans accountable not
> bailed them out.
----
the bailout of Chrysler and GM was to save the health care benefits and
pensions of the retired and workers. Why should a government exist
except to benefit the people?
the bailout of banks and investment houses was simply to prevent a huge
depression. We surely haven't seen the bottom of this recession and who
knows how many more jobs & homes will be lost when it is done. While it
goes against everything we all think is proper, bailing out some of the
companies that caused this nightmare may have been the only option to
prevent a complete meltdown of the economy. It still may come to pass.
----
>
> Yeas we have a problem. And businesses are predatory by nature.
> Nothing a few class action law suits can cure.
>
> We need the free market to find equilibrium and with government
> intervention we have an artificial prop.
----
the free market was a failed experiment - that is my point. No matter
how many times you say free market, it doesn't change the fact that free
market is a platitude but not a successful economic model.
-----
> Hope it does not happen however there are people what are saying our
> economy is going to tank because of the government trying to intervene
> and correct the market.
>
> I will agree, some government is good. I will also say we have a
> government that is way too large. Maybe by as much as 85%.
----
I wish I had your ability to pull numbers from thin air.
----
> Wait til you social security disappears and we move into hyper
> inflation.
----
social security is solid if our government is solid. It is funded into
2040 and those who are calling it endangered do so for political
reasons.
----
> I wish I could by a lot of gold.
>
> We have set ourselves up for failure. China of all countries owns
> some 2 trillion in our national debt. How does that help us? It has
> much potential to hurt us.
>
> We are in bed with a country that kills people that stand up against
> the government.
----
The investments China has in our Treasury bills props up our economy and
permits them to continue selling product in the US. If they decided to
dump their holdings, our currency would be devalued to the point of
massive economic malaise throughout the world. That is the reality. We
have a symbiotic relationship with China, deal with it.
I actually am going to China in a couple of weeks.
I seem to recall our own national guard shooting at people in this
country who stood up against the government. I fail to see the
difference here.
Without getting into the things that the Chinese government does, let us
look at our own government that wiretaps our phones without even
bothering to get a warrant, tortures people, murders prisoners, lies to
the American public about 'weapons of mass destruction' to provide cover
for invading a country for their oil and I am going to be bothered by
what other countries do?
Craig
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