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Huge Bailout Proposal--$700 billion--Suck the bad debt out of the financial system

Discussion in 'Politics & Religion' started by earlpearl, Sep 20, 2008.

  1. LogicFlux

    LogicFlux Peon

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    #281
    China relies on exports. It's not gonna come out any better than anyone else.
    In fact, China may lose the most. China wants us to stay in debt and keeping buying its stuff. After this crisis, hopefully Americans will be more realistic about taking on debt, which will be bad for China.SEMrush
     
    LogicFlux, Oct 6, 2008 IP
    SEMrush
  2. korr

    korr Peon

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    #282
    That's not necessarily a bad thing for China...

    Look, what is money? As long as China has human capital (labor) and they have access to resources (Africa) their manufacturing and export capacity will not change if the money and credit markets come to a halt. If anything, their huge cash reserves will give them a liquidity advantage in acquiring these resources.

    If there is no one around the world for them to sell these things to, they will continue to create them for internal consumption. The potential for the world's largest domestic market is right there and the only ones really hurt by a financial meltdown in this sense are Americans since their standard of living has been so heavily leveraged against complex transactions and a financial roulette wheel.
     
    korr, Oct 6, 2008 IP
  3. homebizseo

    homebizseo Peon

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    #283
    I just don't see why people buy things on credit that they cannot afford. Real estate is the only thing I finance. I use the credit card quite a bit purchasing goods but it is paid off monthly.
     
    homebizseo, Oct 6, 2008 IP
  4. thsadmin

    thsadmin Notable Member

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    #284
    So ummmm when is this bail out going to do just that ? bail us out of the shit ? things are just getting worse .... another great move by Bush !! The Aussie dollar dropped a whopping 7cents over night - it's now 70cents - good for me as I receive all my funds in US$s.
     
    thsadmin, Oct 6, 2008 IP
  5. GRIM

    GRIM Prominent Member

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    #285
    What's going on now and the 'bailout' can not all be blamed on Bush.
     
    GRIM, Oct 6, 2008 IP
  6. Divisive Cottonwood

    Divisive Cottonwood Peon

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    #286
    The ballout hasn't even started yet. It's going to takes months for the money to be distributed.

    More news...

    The Dow is taking a whack just like the FTSE 100.

    The Brazilian stock exchange has had to suspend trading after a 15% drop.
     
    Divisive Cottonwood, Oct 6, 2008 IP
  7. debunked

    debunked Prominent Member

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    #287
    The 'bailout' was brought to the forefront by Bush. He listened to Bernanke and ?? and believed them and he pushed for it and then he signed it into law.

    I put this one on Bush as one of his most liberal moves in his last 8 years of liberal fiscal policies, so he only scored on the conservative a few times including the initial tax cuts.
     
    debunked, Oct 6, 2008 IP
  8. Shazz

    Shazz Prominent Member

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    #288
    I can't wake up tommorow
     
    Shazz, Oct 6, 2008 IP
  9. GRIM

    GRIM Prominent Member

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    #289
    Brought to the forefront sure, how the bill was mangled into an even larger mess however is another thing entirely.

    Don't get me wrong, I don't give Bush a pass, I surely don't put all blame on him here either though.
     
    GRIM, Oct 6, 2008 IP
  10. LogicFlux

    LogicFlux Peon

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    #290
    I don't see how they could keep production anywhere near current levels without exporting. They have "potential for the world's largest domestic market" but right now it's only potential since most of them are still dirt poor. I don't think they have the largely self-sustaining economy that we do yet. They just don't have the consumers yet, do they? Unless they can produce their way to consumerism, which if possible seems it would take a hell of a lot longer than it would had they had the export business.
     
    LogicFlux, Oct 6, 2008 IP
  11. zangief

    zangief Well-Known Member

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    #291
    zangief, Oct 6, 2008 IP
  12. pizzaman

    pizzaman Active Member

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    #292
    pizzaman, Oct 6, 2008 IP
  13. LogicFlux

    LogicFlux Peon

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    #293
    LogicFlux, Oct 6, 2008 IP
  14. pizzaman

    pizzaman Active Member

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    #294
    no even worst than that craigs list. lol
     
    pizzaman, Oct 6, 2008 IP
  15. Hon Daddy Dad

    Hon Daddy Dad Peon

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    #295
    Democrat = raise taxes then spend like never before.
    Republican = cut taxes then spend like never before.

    Charming.

    Meanwhile Paulson appoints one of his Goldman Sachs buddies as director of the bail out program. Another bonus bonanza coming Kashkari's way.

    http://www.usatoday.com/money/economy/2008-10-06-kashkari-rescue-bailout_N.htm
     
    Hon Daddy Dad, Oct 6, 2008 IP
  16. bogart

    bogart Notable Member

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    #296
    Most of the products sent to the US are junk that China wouldn't need for domestic consumption. China could shift the labor to building infrastructure, roads, construction and agriculture.
     
    bogart, Oct 7, 2008 IP
  17. wisdomtool

    wisdomtool Moderator Staff

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    #297
    Fed is now in the market buying all kinds of debts, short term and long term. At the end of it, they will be the biggest bank with mortgages and loans more toxic than the discharge of a nuclear fission reactor. I think what they are doing and what they are spending should easily eclipsed the $700 billion Bush and the rest were fighting about. Who needs Congress approval?
     
    wisdomtool, Oct 7, 2008 IP
  18. debunked

    debunked Prominent Member

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    #298
    The so-called 'greenies' should be happy if we stopped importing from China - that is 1/2 of what goes into the landfills.

    This would also help US manufacturing get back on its feet again, making better products that didn't just get thrown away in the same year. Could you image your grandparents or great-grandparents ever tossing as much stuff as the average American does these days?
     
    debunked, Oct 7, 2008 IP
  19. LogicFlux

    LogicFlux Peon

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    #299
    That makes sense.
     
    LogicFlux, Oct 7, 2008 IP
  20. bogart

    bogart Notable Member

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    #300
    The Fed announced today that they will start buying commercial paper and will become a commercial lender of last resort.
     
    bogart, Oct 7, 2008 IP