Read it very carefully. This is USA in the future. 800 bilion bail-out - printed, over 1 trillion budget deficit - printed, another 800 billion bail out - printed. Only 5% of all the US dollars ever created is in circulation in the US. Rest of them are deposited in banks of the rest of the world as I.O.U.s... treasuries (us gov debt) that was bought by foreigners. The very moment foreigners realize that Treasuries have negative R.O.I. - as it will become true once treasuries bubble bursts and Fed starts printing to pay them off... well, this is how the whole Communistic Block collapsed in matter of months - hyperinflation due to inability of repaying debts. The exactly same thing will happen with the USA. Nation with no production, no savings and the biggest debt in the history of the man-kind... this country is going bankrupt. Kaput!
like with communistic propaganda - people are having weird problems not a political system that doesn't work.
Or as Easter Germany chief of communist party said in the 50s - "The Party is really disappointed with the people in this country". If M$ is disappointed with their customers reactions to their flaky products - let M$ got to hell.
What happened to The Economist recently? First, day say that intelligent men have better sperm then stoopidos. Now, they treat Sergey like an example for super-human. A few more articles and they'll be explaining why euthanasia for poor and stupid is a good thing.
First, day say that intelligent men have better sperm then stoopidos.
Is this actually false? I thought that adoption and twin studies were pretty clear on the matter.
A few more articles and they'll be explaining why euthanasia for poor and stupid is a good thing.
There is actually a pretty huge gap between, e.g. "People inherit traits from their parents, including intelligence," and "All people with trait x must be killed." Maybe if you didn't immediately make that logical leap to a policy conclusion, you'd be more comfortable considering the facts.
Well, nazis also never said directly they're killing weak people in camps. I just meant the overall style they represent. It reads like the newest findings of Nazi science or something...
This is so obvious. I think it has been for a few years now. I would push it one step further: if you need to borrow money, you are not efficient enough.
What about having savings instead of "investor funding" ? If you have developed a great product why in the world would you like to share your company with VCs anyway ? Why you need somebody to invest in your company ? I mean come on people, you can save $10k in vacation as a college student waiting tables and have 100% pie for yourself. I don't understand the logic here. Never did.
Not everything is yet cheap enough to run on 10-50k of savings. Take semiconductors for example.
Some software technologies are also quite expensive to develop, not everybody is doing web apps, thanks God :-)
I'm so bored of listening to this! just let them go bankrupt! Is this capitalism or what???? Nationalize insurance industry, finance industry, automotive industry. Let the Market clean up the excesses as it has been doing for hundreds of years! This time is NO DIFFERENT.
Could not agree more. Wall St. is soooo capitalistic in boom times. And when the bust comes they all cry for socialism. I would pack all these guys and send to Cuba or North Korea. They want socialism? Give it to them!
> What exactly do you want to do about the "entrenched poor"? Give them presents?
No let's give them to multi-billion corporations and banks. There is no capitalism in the US anymore. Bad decisions at the corporate level are not being allowed to be punished by Market. Instead Market is manipulated, so we all get punished. This my friend is called SOCIALISM. Even freakin' swedish don't bail out their business. This nation became a parody of values it used to represent.
Again, you don't realize what the bailout will mean to the companies - they will be gone! Kaput. The US will own them. They just won't renege on obligations is all.
BTW: Why do you exclude the gov from the market? These days the fed owns all sorts of things, maybe they'll make a profit.
Look, again, I'm not saying that the bailout is a good idea. I'm saying your stated objections to it were poor and based on "it's not fair" rather than analyzing what the effects on the economy might be.
I don't really care about fair or not: I want to chose the course of action with the best effect. We can debate which course is best, but I hope we don't have to debate if that's the proper thing to debate.
Sigh, this conversation is reminding me too much of reddit, and it's partially my fault.
> Again, you don't realize what the bailout will mean to the companies - they will be gone! Kaput. The US will own them. They just won't renege on obligations is all.
Good. This is how capitalism works. Right? You take risks and when you loose you pay the price. If it works out you rich. Banks have been going kaput since beginning of time, big deal. It is like with forest fire. It kills old and weak trees, so new forest can grow on it. Let the banks with bad, sometimes even illegal practices fail, so the new ones that will replace them won't take such a risky bets and give loans to people who can't repay them. What is wrong with that? Capitalism has 2 parts - boom and bust.
Why Wall St, is SOOOO capitalistic in boom times and SOOOO socialistic in bust times? Give them some of their own medicine. They made their decision they should pay for them, not a taxpayer. Let the market clean up the mess from the system!
> BTW: Why do you exclude the gov from the market? These days the fed owns all sorts of things, maybe they'll make a profit.
Oh yeah sure! Let's nationalize our insurance industry, our financial industry, our automotive industry and so on. Is how America was built?
> Look, again, I'm not saying that the bailout is a good idea. I'm saying your stated objections to it were poor and based on "it's not fair" rather than analyzing what the effects on the economy might be.
The effects on the economy would be great. Sure, there would be a period of deep recession, but this is better than popping up inflation. This will not make a single of these banks solvent. We will pay inflation tax for it and at the end of the day, we still have "toxic" assets in books. In government books instead of - so called private - banks - but the issue will be still there.
