Day of Reckoning (Pat Buchanan)

Humanevents.com ^ | 9/26/2008 | Pat Buchanan

[dragnet2]

Nevertheless, it must be done, and done now, as collapse is imminent.

And then more bailouts in the future?

Disturbing times.

[BGHater]

Too many Grasshoppers

[CARTOUCHE]

Indeed. And I for one will not support this giveaway or confiscation of our last remaining dollars of dubious value. Let them eat cake!

[SoldierDad]

Is it possible that all this blather about the economy is in part just a campaign stratety of the DimocRATS to win the White House? After January 20 we will see just how bad the economy really is.

[org.whodat]

Consider what this mess has already cost taxpayers: $29 billion to buy the rotten paper of Bear Stearns so J.P. Morgan would buy the investment bank; $85 billion for 80 percent of AIG to nationalize it; $150 billion in a stimulus package to flood the nation with cash; perhaps $300 billion to bail out Fannie Mae and Freddie Mac; and now $700 billion to begin taking the toxic paper off the hands of America's big banks.

The stench of wall street and investment bankers.

[Revolting cat!]

Here come the Buchanan haters to tell us that au contraire, everything is hunky dory: 5... 4... 3... 2...

[hercuroc]

how much more crap is crammed into this bill besides the money for ACORN?

what else don't we know about

why do we have to suffer-why can't government downsize and slice and dice unneeded programs and waste?

the time is near to dump the tea in the harbor

[dragnet2]

Unfortunately, I don’t think we’ll have to wait that long.

[dragnet2]

My big fear is the bailouts will just keep coming and won’t stop.

[BGHater]

Don’t worry, PJB will be liked again if the Rats win.

[ikka]

How did the United States of America, the richest nation on earth, whose economy represents 30 percent of the Global Economy, arrive at the precipice of a financial panic and collapse?

The problem is, that Buchanan immediately accepts, as truth, the statement that a collapse is imminent.

He should first examine whether that statement is true, especially since the people he is excoriating later in the article, are the same people who are trying to convince everyone of their version of the truth.

[atomicweeder]

The only solution I see is a massive innovations in energy and healthcare, so that the rest of the world will want to buy American stuff again. It's like when you are afraid of losing your job so you learn some new skills that make you desirable again.

But for that to work, it has to be coupled with huge spending cuts -- no more mortgages to dead beats, massive reduction in social programs, etc. And we also need to get rid of labor unions.

[GoLightly]

No. Banks got fearful of taking any additional debt, despite an infusion of money from the Feds. All loans were too risky, so they stopped making them for a day last week. The market requires liquidity to operate & banks need an expectation of a return to provide it. The problem is real.

[DoughtyOne]

I hate to break it to you, but the government always has bread and cake. If this plan isn’t implemented, you and I will probably have neither by the end of it.

[dragnet2]

why do we have to suffer-why can't government downsize and slice and dice unneeded programs and waste?

Government downsize? I'll believe it when I see it.

Outside the military, government at every level, from the city level, to the county level, to the state level, to the federal level should have eliminate millions of positions.

Government employees, can join the military, we need them in that position.

We knew the size of government was killing us long before this economic meltdown became breaking news.

Government just became an all consuming, all encompassing monster.

[padre35]

PJB is correct about 80% of the time, more than that sometimes, but othertimes he goes off the deep end a bit to far.

It is not simultaneously impossible for the very people who caused the mess to then be correct about how big a mess it is, if anything, their past incompetence should lead us to believe that they are low balling the giveaway amounts.

That is not directed at you Revolting Cat!,

[GWMcClintock]

I wonder why Bush is so “gun-ho” on this?

As I sat pondering this, and thinking about how scared he appeared when he first spoke to the nation, I wonder if China has threatened to call in it’s loans unless something is done?

With Paulson’s connections to Democrats/China, I just can’t help but think that there’s another monster more hideous out there than even the Democrats and O-boy.

[dragnet2]

The problem is, that Buchanan immediately accepts, as truth, the statement that a collapse is imminent.

He isn't the only one that has voiced this. I don't know if it's true. I never suggested I was an economic expert by any stretch.

My big fear is if they go with the bailout, there will be more bailouts in the future. And will they ever end?

[ronnie raygun]

Lets do it Sarahs way, post the bail out proposal in its entirety on line for every American to see.