The coming financial crisis

[rjs246]

That article is basically spot on but written from an obviously negative point of view.

The administration is leaving the door open for bank nationalization and is smart to do it. Many many economists have said that it will be the fastest and most effective way out of this mess. The administration is saying they don't want to do it. In fact they've said it over and over and over again despite the conservative hysteria trying to convince everyone otherwise.

Obama and his administration are leaving their options open on this, which is very much his MO, and the right is predictably working themselves into a lather over it because they don't know how it's going to turn out and want to get a leg up on the criticism no matter what happens. If the banks are nationalized they'll say 'we told you so'. If they aren't they'll say that Obama caved to right-thinking populist pressure. Either way waiting a bit to start receiving payments makes sense.

Now if this waiting period drags on...

[shorebird]

Do we really want the government to control the banks too?! Were is the line going to be drawn as to what is too much friggen' government??

[shorebird]

This thread should be renamed The Ongoing financial crisis.

[rjs246]

Do we really want the government to control the banks too?! Were is the line going to be drawn as to what is too much friggen' government??

I'm just regurgitating what economists have been calling for as a way to fix the economic crises. They know a hell of a lot more about it than I do.

[shorebird]

Do we really want the government to control the banks too?! Were is the line going to be drawn as to what is too much friggen' government??

I'm just regurgitating what economists have been calling for as a way to fix the economic crises. They know a hell of a lot more about it than I do.

Without question, me too. It's just the thought of the government controlling the money that scares me.

[phillymic2000]

Why does it scare you, they are printing and borrowing money, you and I will never be able to repay. Our kids, kids will be picking up this tab, yay enjoy the ride.

[shorebird]

Why does it scare you, they are printing and borrowing money, you and I will never be able to repay. Our kids, kids will be picking up this tab, yay enjoy the ride.

Thats if the dollar doesn't collapse into nothing and our whole financial system doesn't go belly up.

[ice grillin you]

end of the the world definitely

[PoopyfaceMcGee]

Las Vegas CityCenter project failing

I love this douchebag:

"The events of the last six months have been our Pearl Harbor, economically," said Bill Thompson, gaming expert and professor of public administration at the University of Nevada, Las Vegas. "CityCenter might be too big to fail. If it opens, it's a dramatic gesture that says we're winning, we're not defeated, we're on the way back."

"If it fails, it would be like a second Pearl Harbor."

[holyman]

the government is borrowing over 40% of all money it spends this year. the interest payments alone is going to sink this ship

[Diomedes]

no problem, your kids and theirs can pay it off dicksucker

[Phanatic]

We're paying off the debt from our fore fathers so why should our kids get a free pass. But really Andrew Jackson was the only president I think to pay of the national debt. Modern age? Carter had the best debt to GDP ratio at 32%. Financially the country was in the crapper then so I'm not sure what relevance the debt is as long as your not over 100% debt to the GDP. From LBJ to Carter the ratio was in the 30's as a percentage. Bush will have left us with the highest since the great depression projected at 68%.

During the great depression we were at 93%. So there is a precidence for increasing the debt to GDP ratio in tough fincancial times I suppose. As long as it can be I reduced in the out years.

Either way I attack the national debt premise as a true indicator. I think it is more of a reaction to what is going on then actually a cause...

http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

I've been drinking and think I'm really smart right now... Least till I wake up tomorrow morning and read this ish...

Jackson's Paying off the national debt in 1835...

On January 1, 1835, the United States paid off entirely its longstanding public debt.  For that year and the next the nation enjoyed debt-freedom, the only two years in its entire history when it held no obligation to creditors.

http://www.business.auburn.edu/~whittdo/THE%20ELIMINATION%20OF%20THE%20NATIONAL%20DEBT%20IN%201835.htm

[holyman]

the ole US of farging A went BK in 1933, or was it 1935? The world bank has owned all of our working asses since then.  So whatever happens all of the social security plus all of your bank accounts are free game. In 7-10 years when this pyramid scheme finally collapses, we're all farged. welcome to being a 3rd world country.
So don't be so cocky you primos.

from your Holy Father

[General_Failure]

Looks like I'm safe, my bank account is already empty!

[ice grillin you]

the ole US of farging A went BK in 1933, or was it 1935? The world bank has owned all of our working asses since then.  So whatever happens all of the social security plus all of your bank accounts are free game. In 7-10 years when this pyramid scheme finally collapses, we're all farged. welcome to being a 3rd world country.
So don't be so cocky you primos.

i know im constantly up at night worrying about it