If this is too long for you, skip to the last 2 paragraphs and come back....
In response to
Originally Posted by lhowemt;115531 wrote:
"Excellent, that was the kind of dialogue I was looking for. Someone who won't watch it
(the movie on youtube about the "truth" about the bailout The Real Reason For The Bailout
) and the request for someone else to report on its "truthfulness")
"or research it, but instead just judges it based on where it is posted.
Anyone with half a brain (many of those here) probably thinks something else is going on and searches for information.
Unfortunately we'll probably never have any follow up from most media about where the bailout money eventually goes. That would not compete well with Palin and the possibility of her tattooed lips!
It's simple to panic: US citizens are like 19 yr olds who forget to study
for the test and now have to cram 5 minutes before the exam..so the guy selling the answer key looks pretty good right now!
You see, again, how fear is a powerful motivator! Yes, the bill does not
specify that all assets being bought have to be IN THE UNITED STATES,
which is what the UTube fearmonger says.... HE then CONJECTURES that
there would be assets in China bought....this remains to be seen (quantified)
AND that these assets would be worth LESS when markets recover than they are now.
Two pretty large suppositions! Growing economies tend to expand and collapse.
This you know to be true as foreign markets have reacted. Asian markets have lost the most.
There IS this idea out there that China is buying the US on the cheap! Well, maybe US citizens
buy China on the cheap (by shopping at Walmart) but if you look at top all-out acquisitions of
US COMPANIES, China isn't even on the list of over 16,000 acquisitions! The top 6 are all Euronations.
(see Economyincrisis.org - America's Economic Report - Daily
If you're talking about just PARTIAL ownership (known as The Stock Market) the fact remains
that ITS A GLOBAL ECONOMY! It waxes ON and waxes OFF. The large financial institutions (investment banks)
that hold these "ownerships" of companies for investors GOT CAUGHT borrowing more than
they made sense (30 to 1) and the instruments that allowed them to keep playing their bets
(made rather than the dog-races through iffy mortgages, largely paper no one knew where
it actually belonged) collapsed on themselves. These instruments were created during the
Reagan administration and we've been down this road with the S&L collapse (which the Clinton's capitalized on.)
SO....China DOES own large shares of US consumer goods markets....by selling more
to us than we do to them (Its called the TRADE DEFICIT which may grow 25% this year,
20% last year, 10% the year before (FTD - Statistics - Country Data - U.S. Trade Balance with China
But this is not a loan like a mortgage that gets called in and the US gets evicted. The US regulates
trade with China on that deficit by punishing unfair trade imbalances like it did in 2007 when China was
subsidizing and artifically lowering its prices to the US. See
The U.S. Bilateral Trade Deficit With China - China - Trade Resource Center - Business Roundtable
I love DurangoSteve's lurid contortions and simple political assessments, they provide me much entertainment. Its amazing how both he and I listen to NPR and come to very different conclusions....
For me, the bottom line is THAT WHICH MOST CITIZENS INTUITIVELY can conjure on their own....that NEITHER party
offers a real difference. A freshman with a head cold can SMELL the special interests lined up on either side
... populists (House) and establishment (Senate.) And we know through experience (S&L crisis)
that Capitalism is simply bailed out in bad times by Socialism. The US has just made larger, more
forgivable (absorbable) mistakes than Canada, France, Germany, etc. due to the gift of its size and
its constituents (thats us) ability to bear a huge burden and rise again. Until super economic players (Russia, China, India) come to overshadow our resourcefulness and economic prowess we'll keep inching, hedging that the day to pay is too far off to overthrow the 2 party system.
I'm as undecided as I've ever been, but I've always admired
Ralph Nader because he relies on data and publishes it with integrity. I think it bodes well to my opinion
that if you google "Bailout bill" "actual language" you won't find the REAL thing (dated last 2 days.)
I went to Youtube and found the representativepress on Free Market Capitalism
when I couldn't find the youtube you cited to find the
source and found something that allows for the fantasy we choose to believe....
The question is, like all freshman must ask themselves....will I stop getting drunk before the exam (election)?
That probably depends on how impt this 101 course is to my overall gpa and acceptance into some program
I want to graduate in so I can make the standard of living I've become accustomed to (Mom and Dad!)
For me, I CAN cut my energy use, stop shopping at Walmart and do my own research....I don't own a TV
so I try to keep the panic at bay. But the fantasy I take ownership of. I WANT to believe that special
interests have my interests at heart. Its just that I know they don't. IM the one drinking before the exam,
I'm the one satisfied with what google (and the BUZZ) feeds me, IF I am. I'd rather be surfing a handsome
wave right now, but doing so by cashing in my 401ks (3 in 10 yrs) to feed my paddling habit has saved me from
owning a home and being in over my head. Now THERE's a real piece of irony!
Here's another one, the guy who taught me to really roll (Grace under pressure Grace Under Pressure, Learning Kayak Roll - KayakWiki
and greatly increased my quality of life in doing what came most natural to him was also the guy
that said "Hey, its an election year....let's get into it!" So I got on the passion wagon about what I believe...and
have been perplexed ever since! Thanks mountainbuzz for offering both types of entertainment that matters to
people like me!