Should the US government do anything about the financial crisis?

[fishcorn]

I've watched several episodes of Rescue Me. Do not attempt to match wits with me on this subject.

[Aloone_Jonez]

I suggest the Soviet penal model because the crooks here won't commit seppuku when they get caught thieving from the people.
The Soviet economic model sucked, but if we bail out crooks, then so does ours. What has been done is treason and should be treated as such.

I didn't cheer when the planes hit the towers, but I didn't give a shit either. The dead were stock brokers and those who tried to save them. In the US public stock brokering isn't exactly an honest occupation. They make money trading on inside info (legally).

Yes of course the Soviet model is better than the US, which is why Cuba and North Korea are doing so well. 

[SiMuLaCrUm]

I've watched several episodes of Rescue Me. Do not attempt to match wits with me on this subject.

That's just a dramatic representation. Television always fucks things up.



Also, more on topic. Now that I understand the situation a lot better, I see that we have ourselves a dilemma. I don't think that the bail-outs would be a very good use of tax money. Besides, the economy will recover. We are at a low point in the economy. It will rise up (hopefully) within a few years or so.

[Calum]

it's a shame the UK government doesn't read this list.

[Lead Head]

Similar problems in the UK?

[SiMuLaCrUm]

Aren't most of the worlds economies having troubles?

[worker201]

Aren't most of the worlds economies having troubles?

I don't think that's what Calum meant, but it's true, much of the world is experiencing economic hardship.  I read the other day that Iceland (of all places) is almost bankrupt.

[Calum]

what i meant was that the government has just bought billions of pounds worth of shares in all the major banks, using taxpayers' money, in order to avoid any banks going bust. taxpayers now own about 30% of all the major banks. Were we consulted? no. Where will this money go? To pay the bonuses of coke snorting bank CEOs, i suspect.

In addition to this fuel prices are going up in time for winter and so are mortgages, how's that, since all the banks are now flush... with our money, the same taxpayers who have to meet the mortgage repayments...

[SiMuLaCrUm]

Odd, because here gas prices have been going down some.... They'll probably rebound soon.

[Calum]

yes, oil has dropped in price but not fuel costs, which rose a couple of months ago in anticipation of a rise in global fuel... somehow they seem to have forgotten to lower them this month by similar but converse logic.

[Lead Head]

yes, oil has dropped in price but not fuel costs, which rose a couple of months ago in anticipation of a rise in global fuel... somehow they seem to have forgotten to lower them this month by similar but converse logic.

Fuel prices are dropping like a rock here. From $3.45/gal about two months, to about $2.40/gal now

[worker201]

Which in a weird sort of way is a bad thing, because it will reduce the pressure to come up with new fuel technologies and revolutionary social paradigms.  Instead, we're going to just go back to being oil gluttons and wait for the next time prices spike, when we'll do the same thing all over again.  Those who cannot remember the past get what they deserve.

[SiMuLaCrUm]

What about all the "going green" stuff? Wouldn't that still push new fuel tech development?

[worker201]

No.  The only reason that stuff was being considered was that with the prices of oil so high, other technologies seemed competitive.  With oil being cheap again, all that other stuff is too expensive.  So the technology will just sit on the shelf until next time, when they can roll it out again.

I'm off to the dealership to buy a Hummer.

[SiMuLaCrUm]

Ah, so the green stuff was all just a bit of a cover.