OMG - America says "No!"

GDB2222

geoffky wrote: »

food riots here we go.

I just had a glass of whisky when this news broke. Otherwise, I'd already be on the way to Tesco.

geoffky

Cash Machine Is The Best Place To Go..

geoffky

geoffky wrote: »

Cash Machine Is The Best Place To Go..

LATEST QUOTE


“This is essentially Mr Paulson’s bill to help his friends and I can’t buy it,” said Paul Broun, a Republican of Georgia. “This is a huge cow patty with a piece of marshmallow stuck in the middle of it.”

epz_2

Generali wrote: »

SPY (aka SPYDERS, a sort of a share based on the Standard & Poors 500) is down more than 5% on the day (link) it was down about 7% at one point.

The more I think about this, the more I think that it really isn't the end of the world if this bill doesn't go through:

- the extra Government debt is going to be a huge drag on the US economy for years to come;
- there is substantial evidence to suggest that Government borrowing 'crowds out' private sector investment on a 1:1 basis. That is, if the Government borrows $1 to spend, business investment drops by $1. Again, US business investment falling by $700,000,000,000 would be a huge drag on the US economy;
- morally, why the heck should ordinary Americans, most of whom weren't 'flippers' or benefiting from huge bonuses bail out massive banking institutions? Most Americans didn't even see any substantial rise in the value of their house!
- if all this bailing out leads to the US$ no longer being accepted as the primary store of wealth across the world, the fallout for the US economy will be far worse than a few bank execs losing their jobs.

Agreed, for $7billion i would be looking for cold fusion or advances in stemcells to the point where organ and whole body transplants are possible, not to keep the investments of a few at the right price.

i mean seriously think how much work that amount would buy

neverdespairgirl

GDB2222 wrote: »

It'll go radioactive. Give it to me, and I'll take it off your hands before you get terrible radiation sickness.

There was a wonderful Matt cartoon along those lines a few years ago - one small boy saying to another, "Phew, I'd have eaten those Easter Eggs if my sister hadn't told me about Mad Chocolate Disease"

posh*spice

Nancy on CNBC now..

amcluesent

At least the USA has a process where representatives can decide for good or ill.

Apart from 'voice of the Treasury' Preston, England hasn't heard much from the politicians about how £££ billions are going to be splurged and generation left in 'the Peoples' houses'.

dad-of-4

if you have spare cash the best investment right now would be a bet on bush canceling the ellection and assuming emergency powers.

he didnt bring that legislation into effect for nothing,;)

posh*spice

67% of Republicans voted against

GDB2222

dad-of-4 wrote: »

if you have spare cash the best investment right now would be a bet on bush canceling the ellection and assuming emergency powers.

he didnt bring that legislation into effect for nothing,;)

Surely, this must all be excruciating for him. Isn't he just waiting for someone else to take over?