Can someone help me understand the national debt?

[Razorguns]

You morons really didn't think we could have a long-ass war against terror and it not cost anything? Wow you all did lotsa research before voting for Bush in 2004 I see!

Boom fueled by debt = rising deficit.

r

 

[Cardinal Slin]

Actually a lot of people - the majority didn't vote for Bush first time round but he still scammed the world and deceitfully got 'elected'.

What I don't understand is how people can be so stupid and vote for him a second time round.

 

[MichaelScott]

it is money we owe other countries b/c we borrowed it from them

 

[Razorguns]

Actually a lot of people - the majority didn't vote for Bush first time round but he still scammed the world and deceitfully got 'elected'.

What I don't understand is how people can be so stupid and vote for him a second time round.

Americans are stupid sheep who fall for anything. WMDs! Dot-Com boom! Housing Boom! Communism! Sanjay keeps winning! Bailout or End of the world!

It all begins in public schools - when you're told to accept evertyhing the teacher says and question NOTHING.

Most Americans are followers. Have the popular opinion. They don't like to think for themselves.

r

 

[MichaelScott]

amen to that , lol

 

[Cardinal Slin]

amen to that , lol

Can I say amen to that as well, even though I'm not American?

 

[Razorguns]

Can I say amen to that as well, even though I'm not American?

Americans want the credit boom to last forever. Borrow borrow borrow as a country and never have to repay. "Booms last forever". We had $80k employees owning 2 houses.

Yes that's how Americans (and yes American Citizens own banks too btw). think. And that's why we're here. A bailout may be a quick fix -- but in a few years we'll be back here again. And then the bailouts will be decided by people in Beijing, London, Dubai and Tokyo. People who will not be as sympathetic to our pain.

A bailout will just blanket approval to bank lending and credit market shenanigans. Hedge Fund scams will continue to thrive. People will continue to not want to save. The best bet is to let market forces fix it and level out. But of course "no one wants their properties to LEVEL out".

Remember in economics class the topic "Market Correction"? The bailout is just being used to prevent something that is long overdue.

r

 

[Cardinal Slin]

Are there no mortgage laws there stating you can borrow 3 or 3.5 or 4 times your annual salary and depending on how good your credit history is, have rates more benficial for positive rating credit history?

I know America is in a big mess right now which is hitting some rather large FIs. Luckily I work in a rather smart bank that is not vulnerable to this crisis.

 

[bigmann245]

Actually a lot of people - the majority didn't vote for Bush first time round but he still scammed the world and deceitfully got 'elected'.

What I don't understand is how people can be so stupid and vote for him a second time round.

those darn hanging chads....

 

[UA_Iron]

Wow, you sure are smart Razorguns. You should have been preaching this before it all happened.