BAILOUT: Yes or No?

[seireikhaan]

No.

Process- Person gets drunk. Person falls asleep. Person has massive hangover.

Sub in "financial sector" for person, and that's my opinion. Not saying that it won't absolutely suck, it will. However, the debt is getting ridiculous, we need to send the message that all businesses are equal. If you fail, too bad, you're fault. After a bout of horrible vomiting, the econ will eventually recover.

Besides, its been shown in the past that foreign companies will invest in American businesses which are in tailspin because they can make a profit on it.

[TevashSzat]

No, the market will work everything out eventually. Sure, it would be a rough couple of years, but its nothing the "invisible hand" can't handle. Anyways, thats what a free market is anyways....

[Reverend Joe]

No, the market will work everything out eventually. Sure, it would be a rough couple of years, but its nothing the "invisible hand" can't handle. Anyways, thats what a free market is anyways....

The Great Depression was a "rough couple of years" too. That invisible hand spanked our asses red. I don't want to go through anything like that.

But the problem is, like someone else said, inflation, which has already been bothering us recently. We need to do something, but it needs to be nice and steady, not just bum-rushing the economy with a wad of money. I vote no bailout; something else.

Edit: Damnit, Div, I can't vote "no bailout" because the other option says "Let the market work itself out!" Sneaky bastard.

[TevashSzat]

The Great Depression was a "rough couple of years" too. That invisible hand spanked our asses red. I don't want to go through anything like that.

Well, I don't think it ever will happen because politicians won't let something as big as the Great Depression happen nowadays.

But think of it, in a purely economist point of view, there is no thing wrong with great depressions. It is merely the market trying to correct itself and it will teach a TON of lessons. Just look at how much government changed due to the Great Depression.

That is, after all, one of the prices of being in a more or less free market economy. You either go along during both the good and the bad times or have the government intervene and hopefully, things will get better without a much bigger debt

[Jolt]

Well, I don't think it ever will happen because politicians won't let something as big as the Great Depression happen nowadays.

But think of it, in a purely economist point of view, there is no thing wrong with great depressions. It is merely the market trying to correct itself and it will teach a TON of lessons. Just look at how much government changed due to the Great Depression.

That is, after all, one of the prices of being in a more or less free market economy. You either go along during both the good and the bad times or have the government intervene and hopefully, things will get better without a much bigger debt

WON'T? As far as I'm aware, the Great Depression only got "Great" because one of the "measures" the current president at that time did was letting the market work for itself.

[Reverend Joe]

Well, I don't think it ever will happen because politicians won't let something as big as the Great Depression happen nowadays.

But think of it, in a purely economist point of view, there is no thing wrong with great depressions. It is merely the market trying to correct itself and it will teach a TON of lessons. Just look at how much government changed due to the Great Depression.

That is, after all, one of the prices of being in a more or less free market economy. You either go along during both the good and the bad times or have the government intervene and hopefully, things will get better without a much bigger debt

Well, to be fair, any major mistake should logically lead to people learning. The problem is a lot of people get hurt in the process. And besides, who's to say it can't happen again? The economy is really a lot like an 18-wheeler: you can put all the energy in that you want, but you can only control it with the brakes up to a certain point; past a certain speed it's just not going to obey. In our case, it all depends on if we caught this one early enough to stop the crash.

[Sasaki Kojiro]

I haven't decided yet, I'd have to know what the effects of the market collapsing would be. Saying "let it burn and we'll become stronger afterwards" is too vague. Consider that during the stock market crash of 1929 only 2 percent of the population owned stock...

[ICantSpellDawg]

I haven't decided yet, I'd have to know what the effects of the market collapsing would be. Saying "let it burn and we'll become stronger afterwards" is too vague. Consider that during the stock market crash of 1929 only 2 percent of the population owned stock...

Oh no, don't get me wrong, I think leaving the market alone will lead to an immense tragedy. I'm just saying to hell with it. We deserve hellish torment for letting it get this bad.

[Alexanderofmacedon]

It's hard to say for me. I mean I didn't read (I don't know if it's available?...much less would I understand it all?) the plan the senators voted against. It seems bailing them out would not be the best idea, especially because 700 billion is just an estimate, of what it's worth. Whether the taxpayers will receive that much is not really known. Now this might mean the government would own more, which might not be such a horrible thing (but with who is currently in office, perhaps it is...).

Maybe the hindsight bias is making say this, but I would be in favor of a bill that would NOT give any amount of money to the companies, but would put restrictions on loans, mortgages, etc. It's more strict, but this devolution in these categories is obviously not working out.

My 2

[Shaka_Khan]

I'd rather endure a global recession so that the US can start all over with a better performance.