Americans say no to bailouts, even if economy is harmed
- Thread starter Cutten
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Quote from Landis82:
Really now?
Try telling that to Bill Gross and PIMCO.
Better yet, try putting down the crack-pipe Son.
It's called PRICE DISCOVERY, pops. Put down the crystal meth.
The mortgage paper in question, it's worth practically NOTHING. 5 cents on the dollar, like a bad debt that the first few collection agencies could not collect on. You buy up 10 with the hopes that 2 will pay off.
Price discovery happens in the free market concept, not socialism.
And your lover Bill Gross, won't ever state this truth, because when your earnings depend on claiming that "2+2=5", you will argue to the death that "2+2=4" is blasphemy.
quite honestly im VERY surprised at the public rejection of this bill
I though the US sheeple would be happy to get steamrolled at the thought of anything affecting their 9 to 5 lives...
I am amazed by the resistance this bill is getting.....
I still think it will pass though, but now I have 5% doubt as opposed to zero doubt end of last week.
I though the US sheeple would be happy to get steamrolled at the thought of anything affecting their 9 to 5 lives...
I am amazed by the resistance this bill is getting.....
I still think it will pass though, but now I have 5% doubt as opposed to zero doubt end of last week.
Quote from Scalper007:
So if all these people oppose this, they can't pass this right? Isn't this what democracy is? The people's majority voice count
Democracy is where we let every idiot have a say.
It overrated.
We would never be in this mess if it was up to me, so I feel confident in saying that there are very few now capable of getting us out of it. And hysterical women ranting about pedro the bodega owner is only part of the problem.
Lol - you think China is booming because it lurched towards more socialism? Have you looked at what happened to places like Singapore, Taiwan, Ireland, Chile, Brazil, China, India once they shifted away from socialism and closed markets towards opening up their economies? How do you think the USA became one of the richest countries on earth? Do you have any examples of a country that saw a major economic boom and soaring living standards after going in the other direction with a huge lurch towards statism? Do you think socialism, communism, or fascism are better systems? If so, feel free to provide some supporting evidence.
Free markets are the closest thing to a panacea we have.
Sadly Bernanke is not elected.
I would just point out that renters are equal citizens to homeowners, and much poorer on average. I see nothing wrong with home prices finally falling to levels where a normal renter in a 9 to 5 can actually hope to purchase their own house without having to take on ludicrous debt levels to do so.
Cheaper homes are good for society and the average Joe. If homes cost $1, society would be far better off than if homes cost $1 billion. If you bought a house to speculate on, rather than as a place to live, then it's your hard cheese if your speculative rentier bet didn't turn out as planned. Take the hit like a man, and be glad you can trade up to a larger house at a lower cost in future, whilst others with less $$$ can finally get on the property ladder.