And those whom have tthe courage to stand against it
The choice is clear.
And those whom have tthe courage to stand against it
The choice is clear.
Something just doesn't add up.
Check out this thread... please feel free to comment
http://www.freerepublic.com/focus/f-news/2091712/posts
“’It’s more hype than real risk,’ said James K. Galbraith, a University of Texas economist and son of the late economic historian John Kenneth Galbraith.”
Since I agree, I hope he’s brighter than pop.
Read this article as well.....
http://article.nationalreview.com/?q=ZmI5YmJmZTFjYmEzMTJlZGE1YmZhZDc0YWM1MTBiMmM=
McCain should come out against it and let Obama defend the indefensible.
In time, capitalism + free market will self-correct without intervention.
FR Keyword: moneylist
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No damn bailout needed. Bush has lost his mind.
Bump to that!
Senator Shelby does not belong in that top photo labeled as “supporting the bailout”.
The markets are in the state they are NOT because they are “lying” about strong fundamentals in our economy. Markets are telling the truth. The assets that have plunged in value are worth about the market is willing pay for them.
The market is in its current state because faith in the US financial system has been shattered. IT DOES NOT HELP that banks are being forced to merge in hours or days in order to stave off government seizure. IT DOES NOT HELP that Henry Paulson can, by fiat, decide to seize (AIG) one company, decide to forego that route on another (Lehman), rape and gut another for the sake of his pals (WaMu and Bear Stearns)
These arbitrary moves have the effect of chasing capital AWAY from the financial system. The issue is trust. Should the US experience capital flight on a large scale; and signs of this are now occurring, the outcome will be ferociously ugly.
This bailout, in its original form or in any of its’ derived forms, is only a continuation of a “black box with overwhelming force” policy that is continuing the effects we have already seen. And therefore, no bailout (along these lines) is going to have the desired effect. It will be seen and prove to be only a prop-up of the status quo. Pumping money into the banks will only result in increased hoarding of cash and international revulsion at the arbitrary nature of these moves. These banks and their offerings have already created enough international damage. Foreigners are withholding investment in the US because they have burned repeatedly. And their actions are justified. They have been defrauded and lied to. This is one time we had damn well better be concered about what foreigners think about us. We are incontrovertibly dependent upon their capital, both for our economy, but to continue to finance our out-of-control debt. Temporarily, we can buy their continued forebearance by making good the toxic debt we sold them, but they are not eager to reinvest in what they see as a third-world financial system.
No bailout that fails to address the pure notion of trust will work, in anything more than the very short term. News of a bailout will likley pop the stock market for a few days, but please realize this shall be seen as a mere diversion to the larger picture: The US has not, as yet, “chalked up” a recession, but it is vertually certain to go into one. Corporate earnings are bound to follow. This will undoubtedly crater the stock market and create even more labor and economic activity deterioration and dislocation.
If we do not restore trust to our markets, any of these asinine bailout plans will only delay the restructuring that the world economy will absolute force us to do, whether by choice or by force. If we choose to ignore this certain outcome, when the reality hits, it will occur with stunning violence.