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Author Topic: It's the economy, stupid!  (Read 60106 times)

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Detonator

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Re: It's the economy, stupid!
« Reply #120 on: September 30, 2008, 07:41:49 PM »

This thread has me wondering if I should start investing in some foreign currency before our dollar takes a nosedive.

I hear gold has been doing very well lately.
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Mongrel

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Re: It's the economy, stupid!
« Reply #121 on: September 30, 2008, 07:43:19 PM »

Hint: It is too late. The smart men did this months or years ago.
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Ocksi

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Re: It's the economy, stupid!
« Reply #122 on: September 30, 2008, 07:44:00 PM »

relevant nyt article from 1999: [ugly fucking URL inexplicably posted straight]

THAD EDIT: The article is titled Fannie Mae Eases Credit To Aid Mortgage Lending, and lays out the beginning of the subprime mortgage trend.

also, if you haven't been paying attention, foreign currency is also unstable right now.  the world economy will burn with the us economy.  you will lose money.  the past sixty years have shown that when all this turns around, the us dollar will gain faster than other currencies.  you would lose money if trends continue as they have in the time of modern economics.
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Arc

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Re: It's the economy, stupid!
« Reply #123 on: September 30, 2008, 07:45:36 PM »

This thread has me wondering if I should start investing in some foreign currency before our dollar takes a nosedive.
Actually, today the Dollar gained against the Euro and gasoline dropped $10. Turmoil brought about correction.

Went up again today. The Euro is beginning to sink as European Banks are starting to show cracks.
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Brentai

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Re: It's the economy, stupid!
« Reply #124 on: September 30, 2008, 07:47:34 PM »

...ah ha ha Al Qaeda is laughing so hard right now.
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Mongrel

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Re: It's the economy, stupid!
« Reply #125 on: September 30, 2008, 08:18:28 PM »

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Brentai

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Re: It's the economy, stupid!
« Reply #126 on: September 30, 2008, 08:23:42 PM »

East coast is fucking weird.  Here on the West coast whenever somebody fucks up we don't give him an extra term, we boot his ass out as soon as possible and replace him with a paid actor.
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Brentai

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Re: It's the economy, stupid!
« Reply #127 on: September 30, 2008, 10:11:08 PM »

Tell me Daily Show is misrepresenting the "Congress is out for the Jewish Holiday" thing for humor.

Because I'd kick their asses right now for taking Christmas off.  FIX THIS SHIT.
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Shinra

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Re: It's the economy, stupid!
« Reply #128 on: October 01, 2008, 03:59:54 AM »

Bail them out, and simultaneously set up new rules to prevent them from putting themselves in this position again.  The old Deal did both parts, but was sort of lax and loopholey on the second bit.  In theory they're cooking up something now which addresses current and future problems a bit more satisfactorilyationly.

It's kind of the Big Brother equivalent of telling your kids that you'll post their bail, but they're fucking going to have to stick to a curfew.

This is basically my position. If we're going to spend money to pad the blow, I don't feel comfortable - at all - in that money going to maintain the system. The final version of the bailout bill had a provision that would have simply limited the tax deductions a company could claim against an executive's salary. If a bailout bill is made, it has to stop profiteering in it's tracks. No more severance packages, no more 20 million dollar salaries, no more 'bonuses'. On top of that, there needs to be provisions for outsourcing and tax sheltering with these companies, as a lot of them are basically stealing money and jobs from hardworking americans by utilizing these means. How many CEOs of major banks and investment firms cycle their money through offshore banks as a means of cheating us out of needed tax dollars?

The bill as it is should not be allowed to pass, period. The bill right now is as much reward as it is relief. It's the government telling them that it's OK to cheat us out of our money. I don't agree with that. I would rather see the banks fall and have our country enter another major economic depression before I would stand for our government writing a blank check to wall street and telling them 'We know you screwed up, but it's OK.'
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Thad

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Re: It's the economy, stupid!
« Reply #129 on: October 02, 2008, 12:37:16 AM »

Bailout passes Senate, overwhelmingly (74-25).  Will be interested to see how the modified version does when it goes back to the House.

Meanwhile: via Reuters, a Commonwealth Fund study says Obama's healthcare plan will help 17 times as many uninsured as McCain's.
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Brentai

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Re: It's the economy, stupid!
« Reply #130 on: October 02, 2008, 12:41:52 AM »

Adds $105 billion dollars to the total and a bunch of useless riders, but this time it's extremely unpopular to vote against it.

Ah well, road to Hell etc. etc.
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Zaratustra

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Re: It's the economy, stupid!
« Reply #131 on: October 02, 2008, 12:56:37 AM »

I still say you should make a donation of a single bullet to the back of the neck of every banker in America.

Shinra

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Re: It's the economy, stupid!
« Reply #132 on: October 02, 2008, 04:08:04 AM »

I still say you should make a donation of a single bullet to the back of the neck of every banker in America.

That'd be nice. Instead, we're going to punish them by handing them billions of dollars.
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Classic

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Re: It's the economy, stupid!
« Reply #133 on: October 02, 2008, 05:04:07 AM »

They will not be able to carry that weight and they will be crushed! :richiam:
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Kazz

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Re: It's the economy, stupid!
« Reply #134 on: October 02, 2008, 05:43:35 AM »

o/` IT'S LIKE RAY-EE-AAAAAIN ON YOUR WEDDING DAY o/`
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Cthulhu-chan

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Re: It's the economy, stupid!
« Reply #135 on: October 02, 2008, 06:22:06 AM »

Clearly they did not think their nefarious plan through!   :smile:
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Classic

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Re: It's the economy, stupid!
« Reply #136 on: October 02, 2008, 06:26:32 AM »

:happy: It's not like they'll be able to get enough trucks to carry it all on their credit!
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Cthulhu-chan

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Re: It's the economy, stupid!
« Reply #137 on: October 02, 2008, 06:44:11 AM »

Doh ho ho ho ho!  :insert Waldorf & Statler pic:
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Brentai

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Re: It's the economy, stupid!
« Reply #138 on: October 02, 2008, 09:38:47 AM »

Just so you know, most of the extra hundred billion is probably to cover the bump in FDIC insurance from $100k to $250k.  I do not entirely have a problem with that.
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Mongrel

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Re: It's the economy, stupid!
« Reply #139 on: October 02, 2008, 02:43:18 PM »

So Bloomberg has confirmed he will try to seek a third tem.

A-yuk yuk yuk.
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