Reply To: 1st Pres..debate
On 2008.09.29 at 9:51 pm some pumpkins wrote:
I was under the impression that this "Bailout" was not yet certain to happen, am I wrong on that?
My 2 cents on the whole thing as Johnny Foreigner is that
A: Obama is certainly the candidate of the 2 that would get my vote, though neither impress me all that much, the last thing the world needs is Bush V2.0
B: This bailout may be a necassary action on the part of the US government, however to simply hand over the money to these private companies is not IMO a good idea. There should be restrictions, assurances and penalties attached to this proposed blank check.
BTW where is this money coming from? Surely if the government had this money to simply throw at the problem, then there was never really an economic crisis to begin with?
My guess is that the most likely sources for the money would be China or Saudi Arabia, not a great idea for any long term solutions if you ask me.
Seeing as the crisis seems to stem from the price of oil (difficult to believe seeing as the US oil prices are pretty much eclipsed by other countries, Western European in particular), perhaps that money would be better spent on reducing the nations dependence upon it?
Apologies if my information is wrong/inaccurate[/quote:1bdfdpi5]
you make some good points.
the bailout was just rejected, and it did have those restrictione you mentioned above. in part, it didnt pass because of the negative connotations with the word "bailout" another reason is that people in congress didnt want to commit to this if it doesnt work cuz they’re all up for re election, and they wouldnt want to lose their seats now, would they? fucking politicians. ive been hearing that if they had called it what it truly is"a rescue plan" people might have been more willing to go for it. i dont think the money is going to come from china or saudi arabia, well actually some from china i believe, but from what i heard the u.s. is just going to print more money, which will weaken the dollar even further. oil prices are priced with the most economically powerful countries currency. right now, its the u.s. dollar. so, oil is going to go up, for shizzle.