Massive Economics Thread

[SmarT]

down with collectivism and goo individualism!

[Dogma]

The Treasury Secretary refused to bail Lehmans out by taking on the debt or the deals would have gone through on the weekend. Once again, its the decision of how much the government should intervene in these situations.

And also, Bank of America took over Merrill Lynch for 50billion.

Not to mention AIG needs a loan of 40billion this week to stay afloat.

The fact is, the economy is in trouble. This can't be ignored.

GOD****ED George Bush, it is all his fault.... isn't it???

is what I am hearing from all these NON Americans, Let me know how it is the administrations fault. come on, quote me some facts.......

[Dogma]

FACTS, Not opinions from non Americans... I WANT FACTS!

[Bram Gotink]

Just to tell you, Dogma, you can edit posts. No need to double post there... unless you need the credits, which you don't.

It is a pitty that one of the biggest banks of the USA is bankrupt, b/c that will make the economical crisis only worse. Here, in Europe I mean, we haven't felt any consequences of this, but my guess is that we will feel it. soon.

Whatever. Dogma, you want proof? Quite hard to give, as no major European bank has had the same problem (yet).
It isn't the fault of GWB, it is the fault of whoever caused this economical crisis. That would be: Russia, OPEC and the american people and the rest of the world. No offense tho.
Russia: threatening Europe the same way OPEC did in 1972 was not smart. Stupid Russia!
OPEC: yeah, sure, produce less oil. That should help the economies in the world to heal... or not
American people: so many people losing confidence in [mortgage, that's what my translator says (don't trust it really)] at the same freakin' time is not good for the banks, thus not good for USA economy, thus not good for European economy and not good for the rest of the world either.
Rest of the world: almost no taxes in third world countries to lure big companies and thereby ruining the futures of our workers is not smart. Especially b/c china is always cheaper!

If the world continues like this for a couple of years, we will have 1929 all over again...

[Xavior]

GOD****ED George Bush, it is all his fault.... isn't it???

is what I am hearing from all these NON Americans, Let me know how it is the administrations fault. come on, quote me some facts.......

Dogma, you interpret every post non-americans post about USA with such hostility. I didn't say a thing about George Bush, yet you make it sound like I called him out and everything is his problem.

I am giving you the facts. The government decides which company to bail out. The Secretary decided not to bail out Lehmans, or a deal would have been reached over the weekend with 2 potential foreign suitors. But AIG will be bailed out, there is no way they are going to let a huge Insurance Company go under, it has branches all over the place.

You seriously need to stop being so defensive. You act like everything is attacking you personally somehow. You fail to realize that because the USA is so big, everything that happens there has consequences throughout the world. Because of Lehmans, I know the Toronto Stock Exchange dropped 500 points yesterday. We have a right to speak our opinions on topics that you may regard as domestic affairs, because it is our money at stake as well.

[youngwebsolutions]

GOD****ED George Bush, it is all his fault.... isn't it???

is what I am hearing from all these NON Americans, Let me know how it is the administrations fault. come on, quote me some facts.......

Some facts:
. Administration allowed banks to loan huge amount of money to poor people
. Adminstration intervention with Bearn Sterns (govermental support to commercial company)
this gave other commercials the idea, we can do what we want.. Administration will help us when we go bankrupt..
. Administration intervention with freddy Mac and fanny mea (if spelled correct)
. Administration stopped (luckily for most americans and rest of the world) to intervent with merill lynch and and Lehman.
Result of this, banks go bankrupt, and 50.000 people are jobless..
Another result, banks take more attenitions about their loanes now, stop funding risky projects, so start-ups are harder to make, investments in factories are postponed, so economics will be affected!

EVERY action of an administration has always an affection on the economy.. but needless to say that they are not always bad, and that the commercial section will not always the intentions of an administration. But the choice of an administration for sure affects the ecomics (worldwide)

[Dogma]

is not hostile, all it is is a request on facts proving the Administration is responsible for the market problem. That is all I am asking.

Yes it is a trerrible thing, not only for this country but for the global economy. I agree. But, they bank itself it responsible for it's own failure. It isn't the war, it isn't the cabinet members, it isn't the president that did this, the bank's own greed did this. They are now suffering from the mortgage crisis that has gripped our country for a couople years now. But that too was caused by the banking industry, not the administration.

[Dogma]

The president appoints the cabinet and approves appointments to almost all major financial regulators. Fact is the president of the United States has a lot of say in how regulations are implemented and applied. The president can't control the economy directly but he can set the rules of the economy, the current crisis is because government abandoned it's oversight under the Bush presidency and allowed these institutions to scam their clients money away on bad debt and risky mortgage schemes. In Canada there is no mortgage crisis because we have regulations preventing crap like this from happening. The only way to trust bankers and lenders from not running themselves into the ground is to have a well balanced and regulated set of rules, otherwise their collective greed will get the best of there judgment and **** goes down hill pretty quick, you think the USA would of learned this from savings in loan scandal or even the great depression. It doesn't help that the government is in huge deficit with no plan to get out of it anytime soon.

Clinton Repealed those laws. Welcome Enron, Tyco, and "cooking the books".

[Will]

A repeat of the 1929 Stock Market crash would be the best thing to happen to the world this century, possibly this millenium.

[Tnova]

These investment banks need to go down. If you couldn't see this coming last August then you just weren't looking hard enough. The Fed tried to delay it as long as possible, they should have never have bailed out Bear Sterns fail as well, it is called Capatalism.

Long term it will be better. They tried to make money with out having any money. In 10 years no one will care.