So, how will America vote now?

beaujolais-nouveau

Realy wrote: »

It can't be that strong I saw the protest in washington on the first version it was about 10 people.
Lets face it if the majority did not want smothing so serious they would riotescetialy with over 5% out of work) .
Agree on the last bit though.

How do you mean, you saw the protest in Washington? The protests were not covered by the American mainstream media at all; and the "strength" of the protest has seen Congress offices inundated with calls and e-mails from angry voters telling their representative to vote against.

"riotescetialy" - I have no idea what you meant to type here!

Realy

Chris2685 wrote: »

I am no financial expert, and no humanitarian either, but I say let the bomb go off now rather than holding it back so it inflates to an even bigger size to cause even more damage in the future!

I think they are thinking the cost of doing nothing will be more than doing somthing now.
I think they may be right, they would not just make such a massive decision on a wim. It is all about confidence and no one as it in the US.

beaujolais-nouveau

Generali wrote: »

From what I can see, American citizens are strongly set against the bail out. AIUI the Act (if it is passed) would mostly bail out non-US investors anyway.

Erm, that is one of the things in the first bail-out proposal that made Americans mad with anger - "bailing out the whole world". Somehow I doubt that bailing out non-US investors is any sort of priority - these include China.

StevieJ

Chris2685 wrote: »

I think it's pretty appaling for a democracy... If the thing had been passed they wouldn't be going back and doing it again, so they should respect the will of the people when it isn't passed too. It is up to them, whether it is right or wrong! Only time will tell.

My opinion is that giving the banks 700bn would no doubt ease the pressures for now, but there is no way in hell it would last very long. The economy is unsustainable right now, and the Americans inflating the dollar by effectively printing 700bn dollars is not going to provide any kind of real long term solution.
I am no financial expert, and no humanitarian either, but I say let the bomb go off now rather than holding it back so it inflates to an even bigger size to cause even more damage in the future!

And it will help to wipe out the housing market, so you can buy a cheaper house.

Realy

beaujolais-nouveau wrote: »

How do you mean, you saw the protest in Washington? The protests were not covered by the American mainstream media at all; and the "strength" of the protest has seen Congress offices inundated with calls and e-mails from angry voters telling their representative to vote against.

"riotescetialy" now edited- I have no idea what you meant to type here!

As any one got petition numbers etc? As we say this is massive so there must be some massive response out their somewhere.
Their were some people on BBC protesting in washington.
Dont forget it is a time for bad news they are not going to interview people going "this could actualy help"
The main thing is they think that the money would be better helping the people who are in trouble (which is fair but would still not give the outside world any confidence with investing in the US)

EDIT: OK found the petition just over 19K (0.00006% population) people I think it is safe to say that the majority are not against it, as usual it as been media spin.
http://www.petitiononline.com/mod_perl/signed.cgi?bailout

ManAtHome

But it has to go back to the House of Reps (who are looking at re-election) for a final sign-off. Wonder if Pauly is ever-so-slightly influenced by his Goldman Sachs share options..?

Pobby

What a complete and utter !!!! up the last 10 years or so have been. Darn house prices!!!!! Them thar tings wid a roof over the top where ya live. But seriously, at last the more sensible are questioning the craziness of 300% hpi and rightly so. Seeing as I am old, I had very little tolerence regarding this nonsense.

I have to say tho, I am greatly fed up with what all this stupidity is going to do to my retirement plans. The way it looks at the moment, they could be shot down in flames .

Chris2685

StevieJ wrote: »

And it will help to wipe out the housing market, so you can buy a cheaper house.

Damn straight

Of course it could also make me lose my own job... So it's not all well and good

Of course the best thing would be for a nice gradual slowdown of the unsustainable growth we have seen in the past several years, so that 'real prices' can catch up. That will never really happen though because most everyday people still don't believe that their house should be worth less than it was at peak.

brightonman123

i reckon someone is doing well,with the stock prices yo-yoing all the time..

dont threy read their own warnings- shares prices may fall as well as rise etc.. i can see why fatcats should get away with ruining the economy, and expect others to bail them out.

Generali

beaujolais-nouveau wrote: »

Erm, that is one of the things in the first bail-out proposal that made Americans mad with anger - "bailing out the whole world". Somehow I doubt that bailing out non-US investors is any sort of priority - these include China.

I think bailing out non-US investors is the whole point of this deal. The USA is running 2 very large deficits - one in traded goods and the other in Government spending, both of which are being funded from abroad. The first of which can only be funded from abroad by definition.

The US has relied on funding from abroad since Reagan was in power. The point of this bill IMHO is to keep foreigners on side.