So what would you guys have suggested? Just letting the markets collapse and restabilize? I'm not saying outright that would have been a "bad" idea.....there is some merit to it. But I don't really think either of you really has any conception of the social upheavals that would have ensued. We still might go down that road, who knows..........but without the govt. doing anything at all, we'd be starting to see some shit right about now. Alot of the country would have reverted back to some 3rd world shit. Just conceptualize if the food chain stalls out overnight, like some of this big financial entities that basically went from "all is well" to collapse within 48 hours. If the country's food burden were to be suddenly shifted to local produce virtually overnight........I mean, just think about it. And there are more examples than that. Now whether Obama is handing the right people money or he's just supporting the old guard.....that is a question that I am definitely interested in and want it to be fleshed out within the next 4 years.
FriendlyCanadian: The other moron didn't spend $2 TRILLION A MONTH of your tax dollars. Can you say TRILLION.
RedSamurai: I don't have much time here, but yes, if he had balls he would let banks crash. They created the crisis, and a quick but brutal correction would've fixed things.
Banks would fall, new banks with new investors would take over and grab customers. Razorguns Bank of LA would capitalize on this, and encourage people to walk away from their scam mortgages, would give them REAL mortgages based on REAL income. People go back living in houses they can afford. There was no Govt Bailout of the dot-com crash, and things went fine.
When the government screws with the natural order of business, it encourages the VERY SAME PEOPLE who screwed up the economy to REMAIN IN POWER. With even MORE money.
Let's recap:
1) Banks throw out mortgages,
make billions.
2) Market crashes, scam revealed.
3) Govt gives trillions to banks,
make billions more.
4) You morons get the bill. The very same people remain in business.
Note the bold. All King Obama has done, is ensure the depression will be around for MANY YEARS (mark my words) with only foreigners holding treasuries keeping us afloat.
Think douchebag americans who cry 'omg, a black president, this is the greatest day of my life!' understand basic economics and how govt giving welfare to banks, encouraging incompetence, through freddie fae/mac is NOT a good thing.
Obama had a once in 100 year chance to destroy the banking monopoloy, let the private sector fix it (where capital automaticaly flows to where it has the highest return) and he didn't. Instead he wrote out a bank check to keep Prince Waleed, CitiGroup and other investors happy. Let's keep private sector debt to the public and give the scamsters even more money!!
$150M to AIG execs is chicken-feed compared to the looting he's doign. But let idiot Americans learn the hard way when they're living in tents wondering 'wtf? Obama was supposed to save us???'
btw: $12BN/month in Iraq, while a scam of a war too (approved by a stupid sheep populace), is nothing compared to $2 TRILLION a month. At least the $12BN keeps engineers, factory workers, soldiers and clerks employed in your neighborhoods. How many here live in Greenwhich, CT or Dubai?
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