35 replies to this topic

[Rogerdodger]

I remember when Rick Santelli and others were castigated for not wanting to pay mortgages for other people. Trillions later, they still lost their homes. It was about bailing out the politicians and their friends. Now the only house left standing is a house of cards. Politicians and their subjects are still in denial about the severity and length of this global debacle. DRASTIC CUTS are the only answer yet will not be accepted by the ignorant who think the government is the source of all money. Woe to any politician of any party for the next few years. They will catch the blame for the sins of a generation.

Edited by Rogerdodger, 10 February 2010 - 09:33 PM.

[pdx5]

Strikes me that a dramatic downsizing of the Cali State government would be great for the state.

Certainly a frozen government means nothing to businesses who don't rely upon the teat of the beast.

I doubt that most Americans want to bail their out of control government out. The feds will do it, of course, but only because they overestimate the importance of government.

That brings one question to mind....were you in favor of TARP?

Personally as a free market capitalist, I am against all bailouts of failing institutions.
Capitalism needs bad apples to be thrown out for the good apples to survive.

I also do not buy the argument that without a bailout of the banks we were in danger
of a depression. My reason is simple and straightforward bordering on DUH!
The Billions in Troubled Assets Relief Program could have been loaned directly to
small & medium businesses administered by successful banks. That would mean 100%
of the money would have gone to bolster businesses and jobs instead of filtering it
through troubled banks who used that money to bolster their net assets and for CEO
& executive bonuses.

[arbman]

Exactly pdx, last year the money lend by the banks shrank despite the govt support of these banks.

[BigBadBear]

Dont worry. The TeaPARTY will soon come to power and fix things. the democratic party and republican party are over. The teaparty under President Palin will enforce all the cuts and set America on the right path. I even think an all woman team of Palin & Bachman would be just great. Thank ******* Im here in Aust with the popcorn to witness the great unravelling.

The daily telegraph in the uk says the central command in China has decreed a policy of increased risk adverseness..hmm. They say when you owe the bank 10million it is your problem but when you owe the bank 10billion its their problem. Imagine being a politburo member in the China executive. Nervousness doesnt begin to describe it. They have ordered Obama not to meet with the Dalia Lama., response from Obama.. a firm meeting date when their was none previously. Obama approves executive order selling weapons being sold to Tiawan. Who will draw 1st blood in this financial marriage balancing on a butter beachball in the sun.

I remember when Rick Santelli and others were castigated for not wanting to pay mortgages for other people.

Trillions later, they still lost their homes.
It was about bailing out the politicians and their friends.

Now the only house left standing is a house of cards.

Politicians and their subjects are still in denial about the severity and length of this global debacle.
DRASTIC CUTS are the only answer yet will not be accepted by the ignorant who think the government is the source of all money.

Woe to any politician of any party for the next few years. They will catch the blame for the sins of a generation.

[TechMan]

Fascinating... So far 65% overwhelmingly voted NO. Given the premise that the California Effect could induce financial catastrophe across the U.S., yet most people would rather suffer than bailing out a member of the union.

While I can appreciate the principle of it, I can not rationalize choosing economic depression over the bailout.

[colours]

Will you BAIL OUT California ???? Don't forget Arizona , Nevada, Oregon ,Michigan,Illinois ,Rhode Island ,New Jersey ,Wisconsin ,and Florida . All 10 of these states are insolvent . Consider the fact that over one third of the population of the U.S. resides in these states and the problem is magnified . THERE WON'T BE A BAILOUT . There is not enough money to even consider a bailout . I shudder to think what happens the day after . If a state bankrupts , does it then revert to territorial status ?

Edited by colours, 10 February 2010 - 11:50 PM.

[bullshort]

Considering its sales, income, property and franchise taxes, not to mention the others, California taxes everything that breathes in that state, more than the Federal government taxed its citizens merely 50 years ago. What have they got to show for it? Government services, parks, roads, a school system next to none? California is a bellweather for the rest of the nation. And you are surprised in these poll results?

[TechMan]

And you are surprised in these poll results?

Didn't say I was surprised but fascinated by how people would rather suffer economic depression - given the narrowly specified premise of the poll.

[bullshort]

And you are surprised in these poll results?

Didn't say I was surprised but fascinated by how people would rather suffer economic depression - given the narrowly specified premise of the poll.

I think most of the votes are based on the question in the poll, not your premise. If you pose the question with reference to the premise in your commentary, i.e., "assuming not bailing California out would result in a national economic catastrophe, would you bail California out?" you might get the results you seem to think you should have gotten.

[TechMan]

And you are surprised in these poll results?

Didn't say I was surprised but fascinated by how people would rather suffer economic depression - given the narrowly specified premise of the poll.

I think most of the votes are based on the question in the poll, not your premise. If you pose the question with reference to the premise in your commentary, i.e., "assuming not bailing California out would result in a national economic catastrophe, would you bail California out?" you might get the results you seem to think you should have gotten.

Thanks and duly noted. So then, if that were the case, you would rather bail out California than suffer the financial catastrophe and you think most people would do the same???