Posted on 09/20/2008 6:04:43 PM PDT by BGHater
Good article. The more the Government meddles then the worse it is going to be in the end.
It’s an election year. The one party cartel in DC has to prop things up until November.
Bad banks! No soup for you!-
Love the wild hogs analogy on your about page!
No amount of bailouts is going to stop this meltdown.
If this author, David Stevenson, is such a genius, why isn’t he sitting on a yacht in the Mediterranean instead of writing for this supermarket rag, “Money Week”?
Opinions are like a-holes.
The goal is no longer stopping it.
It's simply not being the one without a seat when the music stops.
I think that with every case where banning short selling has been tried, including Pakistan in June, the market got a very short term pop (a few days), then the downtrend resumed. And China, where short selling has not been allowed, is down almost 66%.
Japan lost a decade and has been flat for another decade since an acre in Tokyo had to go down from being worth California to just being worth Chad.
yitbos
A very wise lady recently said, “the government is the problem, not the solution”.
Honestly, what did you expect from a guy whose nickname is Helicopter Ben? He got that name by saying that $$ should be dropped out of a helicopter in order to prevent an economic downturn. I don’t know if that’s the most idiotic thing I’ve ever heard, but its close.
Sadly, his philosophy that extraordinary measures are required so that none of us feel pain is in line with our times. We’ve been trying to avoid a downturn by creating a series of bubbles, with the biggest bubble of all being the US debt. Sooner or later it will bite us in the ass. And its getting sooner all the time.
If this author, David Stevenson, is such a genius, why isn’t he sitting on a yacht in the Mediterranean instead of writing for this supermarket rag, “Money Week”?
“Did it ever occur to you that many of the people “sitting on a yacht in the Mediterranean” are the ones who profited from this mess in the first place (and got out in time)? “
Yes it did. And obviously, they are the smart ones. Hence, David is still writing for the supermarket rag.
Now that is damn good advise.
Agreed
Rather than denigrate the author, why don't you tell us where he is wrong, and what your solution would be.
I, for one, would be interested in hearing it...
Actually, what I should have said, is those that CAUSED this mess.
BTW—if you feel that opinions are like a-holes, then why waste you time on Free Republic?
” and what your solution would be.
I, for one, would be interested in hearing it... “
I have no problem with the current Fed solution of buying these debts for a set rate. The market is panicking and these debts are basically worthless at this point, which in turn is halting the ability to raise additional funds. The government taking on these debts helps to remove this uncertainty from the markets. The government, having the luxury of time, plans to hold this debts until maturity. Hopefully they will be able to earn more from these debts in the future than they are worth now. The only other option is to let the U.S. financail system collapse which would cost the taxpayers much more in the long run.
No one knows for sure, but I believe this is the best option.
“BTW—if you feel that opinions are like a-holes, then why waste you time on Free Republic?”
Because I am an a-hole! ;)
I don't think the American public understands just how close we are to total financial collapse, and if you don't think it will affect main street, just find someone alive from the 29 default, and ask them.
The financial sector is the heart of this economy and it pumps the blood or money and wealth into the farthest reaches of the economy here and abroad.
We are very, very close to collapse, and it won't take much, even now.
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