Better get your food stamps

[Monroe]

http://news.yahoo.com/s/ap/wall_street

House rejected 700 billion dollar bailout. Which on the surface the bailout sounds incredibly retarded. However the last time the US did that it helped us get out of the Great Depression. The United States also made money off the move. Apparently we have much more reactionist congress men and women than not.

[Mark]

Hmmm........Willie Nelson started a petition to put the money in our agriculture. Let's blame him.

[Tsukiyumi]

Food stamps? If the economy gets much worse, I'll be pricing a new tent...

[KuvahMagh]

I'm of two minds on this issue, on the one hand you don't want to save the banks that just tanked themselves and the public but on the other if you do nothing then it gets worse and those most affected by these Banks bad decisions won't be the banks but rather the general public who once again take the brunt of anything that goes bad...

[Teaos]

I'm with KuvahMagh, I don't want to help the banks who caused the mess in the first place but then again I don't want the world economy to tank.

[Deepcrush]

The funny thing is that this problem is nothing that can't be solved just by watching your spending for a while. The DOW is still above 10k. It drops hard, then goes back up slowly, then drops hard again with whatever big panic comes along next. It wasn't just the banks that caused this either. People were spending more then they were making. We were living the good life for about 8 years (1992-2000) and so everyone thought nothing could go wrong. Then we got Bush, a man who along with his brother tanked 3 companies and a state. So, we voted him for our president. A man who takes more bribes then Don King and has the same spending dreams as Reagan but with only a tenth the IQ and not a clue as to a plan.

Welcome to the happy times.

[Monroe]

If I remember right the recession in the early 90s was a result of spending more than we had.

Having never owned a credit card I don't quite understand it.

[sunnyside]

Great. Sounds like the Fed just printed over 600 billion on it's own whim. Which should take the pressure of the problem, but could mean a lot of inflation or some very bad results.

They should start thinking about choking down on the money supply to counter once this gets sorted out.

[Deepcrush]

They SHOULD stop blowing out money we don't have. Stop writing blank checks to companies for "services in turn". Stop funding other countries around the world. Stop picking up the bill for every mess up the UN makes. Start dealing with troubles here at home.

[Monroe]

And add a freaking Protective Tariff to EVERYTHING we import.

[Captain Seafort]

Great, that'll really help the world's economy.

[KuvahMagh]

And add a freaking Protective Tariff to EVERYTHING we import.

That won't do much, then you get smuggling and the fact that some 80% of your Oil Supply is not American, Oil prices then go up, Heating goes up, gas goes up, food goes up. All your prices rise in turn and there is no guarantee it will create jobs. Putting conditions on certain trade would probably help more than an outright tariff on everything. You also need to look at your Capitalistic System. Companies like Walmart have done so much to destroy your economy, some people don't even realise it until someone points out that you don't see alot of smaller shops around anymore.

[Tsukiyumi]

...You also need to look at your Capitalistic System. Companies like Walmart have done so much to destroy your economy, some people don't even realise it until someone points out that you don't see alot of smaller shops around anymore.

We used to have a law on this subject. Sherman Anti-Trust Act, I believe it was. I wonder what happened to that pesky old thing?

Seriously, we need stricter control over corporations; this "free market" sh*t is for the birds. The market is "free" to screw the consumer over at every turn, without fear of reprisal from the government. Rich get richer, poor get poorer, etc.

It needs to stop.

[Mark]

How long before we hit another depression, do you suppose?

[Tsukiyumi]

How long before we hit another depression, do you suppose?

If we don't make some drastic changes ( ), I'd say the answer is: "real soon".