Quote:
Originally Posted by Paul Markham
The Government had no alternative. Don't bail the banks out and the Western World loses one of it's biggest earners and goes bust. Do bail them out and we hang on for a bit longer.
The crunch will come when China decides to have the banking industry, they will shoot the fuckers who lose money.
Take a look at Greece. They enjoyed a lot of benefits from the loans they should never of asked for and never been given. Now they're told to slow down on the spending and there are riots.
US debt is exactly the same on a smaller scale. The US, you're still in the US Robbie and earning money from US citizens, borrowed trillions to fund your style of living. Now it's payback time. Except the US shipped so many jobs overseas, so you could buy cheap goods made in a sweat factory, it hasn't got much money to spend. So borrowing some more.
The Republicans will cut Government spending, just like all the recent Republican Presidents. 
They won't cut spending where they need votes. I'll bet money on that. Just going on previous administrations. |
The bailout "might" be arguable "IF" - they didn't steal 1/3 of the countries wealth through fraud before hand to create the need of the bailout in the first place. With that added in, they should have failed.
Banks have failed before, even big ones, the world keeps moving.
China is a fake economy, the minute it has to take care of it's people, it's broke.
Greece is the result of mass deregulation, the same thing we've done here and are trying to do more of, which will create the situation in Greece, here.
Actually, American's GDP clearly shows we produce a godly amount of money, add in our corps, and kiss the debt good buy. We are still standing strong, because of this factor. If they truly cut spending correctly, the scale would reverse so quickly it would throw the rest of the world's economies off.
And agreed... based on several previous admins, they will not cut spending in the right places, at any factor.