Welcome to the Plutocratic States of America
 

Another guy on a forum I regularly visit posted this link to Kucinich's opinion on the issue and I think it's dy-no-mite!

kucinich.us - Protecting the public interest in any economic "bailout"

"The double standard is stunning: their profits are their profits, but their losses are our losses."

So, democracy and economic freedom has been a joke all along. :rofl:

I almost want to stand up and sing God Bless America.

Re: Welcome to the Plutocratic States of America
 

Wow! I agree with you on something. This whole thing makes me sick.

I like how Bush and others are saying if "we" the taxpayers don't bail them out the Country could go into a depression for the next 10-20 years

Re: Welcome to the Plutocratic States of America
 

The government needs to let go and let things work themselves out. Yes that will mean that people will lose their homes, banks will go under, and CEO's will loose their high salaries. However in the end we will end up better off.

People have to lean to live within their means. If that means as a CEO that you can't have a private jet, then just fly first class.

The US does have a system of welfare for the rich, and rich don't need any kind of welfare. To some loosing a few million dollars is nothing to them. For most of us, loosing $100 is a big deal. The rich have their position in the world: A base of funding for business.

Re: Welcome to the Plutocratic States of America
 

Certainly the rich and poor will always exsists, and I think it is even unfair to try to use government to balance that out, but it is even worse to try to "help" the rich, when they don't need it. I agree with Pethegreat, that our capitalist system tends to be self regulating, so long as a few minor rules (breaking up of monopolies and such) are enforced. The more the government tries to help the worse the wound gets, eventually their bandages can't do anything more, and the economy collapses. Better a recesion now than a depression later.

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**cough** oil companies....

Re: Welcome to the Plutocratic States of America
 

Oil companies are not technically considered monopolies. One and one company alone does not hold a massive majority of the market. You have shell, gulf, BP, exon-mobil, and dozens of smaller oil companies. The oil companies would fall into a cartel since there is little competition between them.

Microsoft is an example of a monopoly. They hold something like %90 of the operating system market.

Re: Welcome to the Plutocratic States of America
 

http://img88.imageshack.us/img88/4622/758272sb0.jpg

The problem is that there's so much cheap and easy credit floating around, that there's no incentive for anyone you use money wisely when more can be borrowed. That goes for all levels of society, but those living meal to meal learn much quicker that you can't go on spending more than you aern for very long.

Unfortunately, it seems, the higher up you get, the stupider you become, as the links between action and consequence become more and more distant. As I said in my earlier thread http://forums.filefront.com/pub/378707-so-economy.html the ensuing socialism for the rich means the ones that caused the problems will be off scot free, while the people that pay the burden of bailing them out also get the full brunt of the mess.
http://img88.imageshack.us/img88/758...jpg/1/w460.png

Re: Welcome to the Plutocratic States of America
 

I was semi-joking, however think of this... If your drilled your own oil, refined it and sold it for $1 a gallon...How long you think you would last(even breaking even or a small profit)? I bet companies like Exxon would find a way to put you out of Business.

Re: Welcome to the Plutocratic States of America
 

Actually, the market would be what put you out of business. A small entity wouldn't have the massive resources necessary to drill for, transport, refine, transport some more, bury in the ground, and pump out. Even if you could theoretically have the resources to get a single station running, you wouldn't sell enough to turn a profit, especially at a dollar a gallon.

Re: Welcome to the Plutocratic States of America
 

Da...Da..Da. Another bites the dust!


WaMu is largest U.S. bank failure

WaMu is largest U.S. bank failure - Yahoo! News

Re: Welcome to the Plutocratic States of America
 

I saw that just before coming here, they are trying to get in line early... once that bill passes :( they are all going to be "failing" like rats just to get that (our) money.

I bet the $700 billion will be gone in less then a month :cya:

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$4000 per person on the military? Per year?! Wow...:rolleyes:

And why would someone call their bank WaMu?

But I was wondering, what do Americans think of the money that's being spent to bail these companies out? Do they think its well-spent? Or do they think its just a waste?

Re: Welcome to the Plutocratic States of America
 

WaMu is an abbreviation of Washington Mutual, and it sounds like it's not being bailed out like the other banks, it's being sold.

Bailout's as a whole can sometimes be good. I mean if there just happens to be a really rough patch, and an otherwise well operated bank needs a small amount to keep going, it's alright, but bailouts on such a massive scale are ridiculous. Let the banks fail, they fucked up, let them deal with it. If you just have to do something, make it a long term loan that will be paid back with interest.

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They couldn't manage our money the first time, I don't think they will do any better in round 2

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Too late, they don't care now, they're home and dry.

Fury at $2.5bn Lehman bonus - Times Online

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The republicans do something decent for once. They have stalled and just about killed the $700B bailout plan.

Atmosphere borders on panic as bailout falters

We don't need another $700B in national debt. Let the banks figure this one out on their own. Banks who are smart will buy up the bad mortgages and turn a profit on them. I don't know how they would, but they will find a way to do so.

Re: Welcome to the Plutocratic States of America
 

Or this will the Great Depression of our generation. Either way, the damage has already been done and people across this nation will feel the blow whether or not they go ahead with the bailout.

Re: Welcome to the Plutocratic States of America
 

THis is probably because I'm rather tired right now but who or what are you laughing at?

Kuchinich has a point (can't be bothered to read the article on his page right now).

If you ask me the goverment should go after those greedy stupid bankers and take those ridiculous bonusses they got for screwing over a lot of people with the retarded unbelievable risks they took. Those bastards shouldn't get away with a bonus and their companies being bailed out while the citizens see their morbiges and such go to waste.

The bailout plan is a joke, if the goverment wants to spent money it would be better off buying those morbiges and such. This should protect home owners (morbige owners) from seeing their contracts becomming even less valueable and give the goverment a thing in return (those houses) rather then an empty check and nothing but hope in return from idiots who fucked up big time.

Let the banks fail, try and hunt down the money wolfs and try to shield the victimized citizens. Then introduce some laws to prevent these flaws from happening again. A free market can only be so free before it gets to a level of capitalism that only benefits the top class (richest of the rich) of society. Transperancy by law is needed, as are certain aditional laws that should stop the creating of a buble build on money that does not excist.

Re: Welcome to the Plutocratic States of America
 

It's more of a sadistic, ironic laugh. It's a way for me to cope.

This lady says pretty much what I think:

Re: Welcome to the Plutocratic States of America
 

So, just a rough estimate if people's actions and things keep happening the way they are, how long until the economy collapses?

Re: Welcome to the Plutocratic States of America
 

I can't see ho anybody could disagree with that. But I also agree with Kucinich that some action has to be taken to keep those Wallstreet scumbags inchecked in the future.

Re: Welcome to the Plutocratic States of America
 

If the old Soviet Union was still around, they'd be laughing their asses off
It's time to wake up from the American Dream and face reality