What will be the outcome of the US economy?

[Jenos Ridan]

With all that is going on, what are your thoughts?

I hope nothing will happen.

[black elk speaks]

as much as I hate to say it, the persistence of proponents of the bailout bill will prevail. A short term ease will occur but it will not last long and the dollar value will plummet due to inflation. A third of the trees and the life in the seas will die. China will be economically hit without the West able to buy its products and the moon will turn as blood. by December 12, 2012, all of civilization will be eradicated from the face of the earth and all will be well.

[The1exile]

China will own all your houses, own all your chews, own all your general stores, touch them and you'll lose.

[jiminski]

China will own all your houses, own all your chews, own all your general stores, touch them and you'll lose.

it's true.. they have basically been farming your consumerism for the last 10 years anyway. They will now own you too; like little fat pets being fed to the point of complete reliance.. No product, no industry.. just the servicing of capital which is the metaphor which allows for the manufacturer which owns it.

what a perfect proper little pickle.

[Pedronicus]

I hope nothing will happen.

Thats a nice 'head in the sand' attitude.... It's already happening.
just as Japananese car makers have ripped the arse out of GM and fords market share with their more fuel efficent cars, your economy is heading in the same direction.

[b.k. barunt]

Heh heh, I hope you guys like Chinese food - and better keep the poochies indoors.


Honibaz

[gdeangel]

It will not be that bad, if we go cold turkey now on the cheap credit. If we keep up the cheap credit, expect massive inflation and currency devaluation.

On the other hand, in the world context, the US has the food, so it is the rest of the world that will be F*cked. On the other hand, with the wealth inequality increasing, it remains to be seen how many in the US will be able to affort that food at days end.

Oh, and another plug for my blog: this explains why the drop on Monday was more than enough to purge out the bad debt if Bush and his chicken-hawks would just let the market work.

http://gdeangel.blogspot.com/

[comic boy]

Nothing will change !

The redneck wives will still go to church and wring their hands whilst pleading with the sky daddy to bless the chosen ones again, meanwhile their husbands will buy more guns and barricade their trailers against the foreclosure agents. Every night the offspring will pull on their ' Go USA ' pyjamas and offer up thanks to God for living in the greatest, most prosperous, liberty loving nation on earth.....it must be so because grandaddy said it was

[bedub1]

Anybody that thinks the US can spend it's way out of this problem is a fucking idiot. When you are in serious debt...you don't go borrow and spend even more money.

If they do it, then the US government dumps what 700billion worth of Treasury Bonds on the market? Nobody wants them...so the US dollar devalues even further.

[comic boy]

Anybody that thinks the US can spend it's way out of this problem is a fucking idiot. When you are in serious debt...you don't go borrow and spend even more money.

If they do it, then the US government dumps what 700billion worth of Treasury Bonds on the market? Nobody wants them...so the US dollar devalues even further.

You spent an equivalent amount on a pointless war in Iraq, shoring up your financial institutions is a far more sensible move.

[Jenos Ridan]

I hope nothing will happen.

Thats a nice 'head in the sand' attitude.... It's already happening.
just as Japananese car makers have ripped the arse out of GM and fords market share with their more fuel efficent cars, your economy is heading in the same direction.

I said hope. I didn't say that I'm not ready to pay up when the bill comes.

[Jenos Ridan]

It will not be that bad, if we go cold turkey now on the cheap credit. If we keep up the cheap credit, expect massive inflation and currency devaluation.

On the other hand, in the world context, the US has the food, so it is the rest of the world that will be F*cked. On the other hand, with the wealth inequality increasing, it remains to be seen how many in the US will be able to affort that food at days end.

Oh, and another plug for my blog: this explains why the drop on Monday was more than enough to purge out the bad debt if Bush and his chicken-hawks would just let the market work.

http://gdeangel.blogspot.com/

We ought to outlaw payday loans. And heck, levy a credit excise tax, 10 cents on the dollar (ten percent) for every dollar of credit.

[bedub1]

Anybody that thinks the US can spend it's way out of this problem is a fucking idiot. When you are in serious debt...you don't go borrow and spend even more money.

If they do it, then the US government dumps what 700billion worth of Treasury Bonds on the market? Nobody wants them...so the US dollar devalues even further.

You spent an equivalent amount on a pointless war in Iraq, shoring up your financial institutions is a far more sensible move.

I just typed out so much shit...and deleted it because it's pointless to discuss this as we both don't understand something yet. "Money isn't real." -- blow

[PLAYER57832]

as much as I hate to say it, the persistence of proponents of the bailout bill will prevail. A short term ease will occur but it will not last long and the dollar value will plummet due to inflation. A third of the trees and the life in the seas will die. China will be economically hit without the West able to buy its products and the moon will turn as blood. by December 12, 2012, all of civilization will be eradicated from the face of the earth and all will be well.

If a "third of the trees and the life in the seas" die ... then we ALL die ... pretty quickly at that! China particularly ...

[black elk speaks]

as much as I hate to say it, the persistence of proponents of the bailout bill will prevail. A short term ease will occur but it will not last long and the dollar value will plummet due to inflation. A third of the trees and the life in the seas will die. China will be economically hit without the West able to buy its products and the moon will turn as blood. by December 12, 2012, all of civilization will be eradicated from the face of the earth and all will be well.

If a "third of the trees and the life in the seas" die ... then we ALL die ... pretty quickly at that! China particularly ...

well, thats what it says in the bible.

[oVo]

Something will happen and this economy will rebound. Question now is...
will the greedy bastards that caused this fuckup be held accountable?

and YES... I love Chinese cuisine and could live on good sushi as well.

[millertime13]

Sorry I was busy ordering cases of pistol and rifle ammunition, what was the question?

[mpjh]

Essentially nothing will happen. The ruling class in the United States (ruling elite for the squeamish) is still firmly in control, and there is no real organized challenge. Some will lose money, some will make money, but most (the vast majority) will continue to see their wages decline, schools fail, health deteriorate, and children suffer. This crisis will not precipitate organized resistance from the left, however, the fascist right may try terrorism (as they did with the KKK) out of hatred and frustration if Obama wins.

Situation: Deteriorating
Outlook: More of the same
result: More suffering

Is there hope for change?
I don't really know.

[millertime13]

I posted this in the private forum this morning. No bailout, now lets roll...

Wow. I cannot believe what is happening here in the USA.

First, let me get the apologies out of the way, I am sorry to everyone...I voted for a dolt to lead our nation and this twit has now set his sights on wrecking the economy of not only our nation but the world financial markets as well. I will never reconcile this.

Like Gomer Pyle, this idiot again rushes to the camera with a 5 alarm emergency...the banks gonna fail, the banks gonna fail. Anyone remember the last "emergency" he had to rush in and fumble the ball on?

George Bush, John McCain and Barak Obama with their combined expertise on how our system works and how to safeguard our futures get a resounding NO CONFIDENCE vote from me. Who is the puppet master pulling the strings behind these caricatures of human beings? None will speak in a truthful manner, along with most of the legislative branch. No one will address the world with an explanation of what happened and what will be done to fix it. But they are sure running as fast as they can to the taxpayers money, to load up while they can. We are fucked...by a 2 party system of corruption. There is no difference, its all smoke and mirrors...and the general public has been hoodwinked into thinking that their personal feeling on issues will be soothed and cared for by the current crop of politicians.

The "Bailout" is a desperate cash grab designed to push the deficit into an unmanageable state, and a perfect excuse to pilfer more tax monies. Notice the add-ons to the bill that was passed by the senate (I will not capitalize any polictical titles from this day forward) is loaded with pork. Bullshit... We are being told that it must be done quickly, as most con artists will tell you, a sense of urgency is a necessary component to disarm the mark. We are being told "we have no choice" more bullshit...There are several other choices but none will fit the puppet masters agenda. "this is not a bailout of wall street" ...the f*ck it aint !! The bankers and lawyers have been swimming in dirty cash for over a decade, they knew it would come to an end. Thats why they cashed out over the last 4 years and hid the money they stole. Where is the guarantee that a bailout will prevent a recession or worse? There is none, because we are in a recession now and these crooks are telling us if we dont save them they will bankrupt the world. Have you ever been robbed? Well you are being robbed now.

In a perfect world the US government would seize the assets of the corporations AND the individuals who profited from this scheme to repay the system and restore confidence in the capitalism. Further these individuals would be dragged to a public lynching as a warning to any who would dare try to fleece the country.

The one plan that would prevent a catastrophic collapse would be an immediate 10 day freeze on the markets, this would give time to draft a proper bill. The correction would include two points:
1)A federal insurance on mortgage back securities and individual mortgages, after they are properly qualified and graded accordingly to performing or nonperforming. This would free them again to be traded on the world markets, with a reasonable assurance that a lump of bad paper does not threaten the entire batch.
2) An abolishment of the current tax code and a new code installed...a flat tax on individuals, and a simple tax formula for business. No more bullshit !!
This would prevent the looming disaster and give us time to decide what the next course of action would be.

You may not agree with some of my views or worry that I am overreacting but I am telling the truth here...my life, my livelihood are at stake too. If the greedy are successful, and it looks like they will be...there will be hell to pay. We will not only fail to save the economy, but jeopardize the lives of millions of people. My current position is market dependent, being in commercial real estate...this would signal that I am a proponent of the bailout...nothing could be further from the truth. I have bad news for the politicians and the bankers, I grew up poor, I am not rich now. So if they flush us down the toilet so to speak....I dont have far to fall, and I have been there before. I am not afraid because I can survive with little or nothing. The yachts and mansions crowd will soon be in the pit with the poor and I have doubts about their ability to survive.

[Jenos Ridan]

As soon as than is underway, we need to reform the government, pricibly in the area of the national debt.

Solutions?