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Author Topic: Public Debt Outlook  (Read 4576 times)

Offline clips

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Public Debt Outlook
« Reply #15 on: April 29, 2009, 09:18:59 AM »
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Seriously? Never mind that you don\'t know what Austrian Economics is, but you didn\'t even bother to look it up.


True...i didn\'t look it up,...didn\'t feel i needed to...but i just briefly looked over what it was about, and for the most part they have a capitalist stance on the economy,* let markets dictate needs/price adjustments...etc*...so there was no need to mention them since america already is a capitalist country.

I still believe AIG had too many american mortgages and other smaller banks and other foreign financial institutions involved to let it fail. You would\'ve taken a chance on basically the entire housing mortgage system folding, and most likely a huge foreign financial powerhouse coming in and taking over? Everybody would\'ve been up S**ts creek if that would\'ve happened.

I\'m all for capitalism, but the folks that already had money became even more greedy and caused this problem. Then when s**t hits the fan, these folks take their big bonuses and pensions and dissappear...with the millions they\'ve made thru shady practices....So money had to be funneled to these financial institutions or risk the complete breakdown of the system. Alot of people let the term "let them fail" roll nonchalantly offa their tongues, but i don\'t think anybody wants to experience an all out breakdown of the system close to what the great depression was back in the day.
« Last Edit: April 29, 2009, 09:20:58 AM by clips »
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Offline Mr. Kennedy
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« Reply #16 on: April 29, 2009, 09:54:04 AM »
Quote from: clips
You would\'ve taken a chance on basically the entire housing mortgage system folding, and most likely a huge foreign financial powerhouse coming in and taking over? Everybody would\'ve been up S**ts creek if that would\'ve happened.


Yes, because the housing market is doing so well right now.  Think before you speak.
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\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #17 on: April 29, 2009, 10:02:23 AM »
Quote from: Mr. Kennedy
There\'s no single firm to blame.

This is the result of handing out mortagages to people who did should not have gotten them.  But that\'s what happens when everyone who can afford houses already has houses, mortgage lenders get greedy and make stupid decisions.

And on the automobile front, GM has no one to blame but themselves for making vehicles nobody wants.


WRONG.

There is one single firm to blame.

MAC started this shit and then started selling paper to everyone else. Which is how AIG got involved.

GM got caught in the wrong place at the wrong time. They would have been just strong enough to survive if everything else did not fall around them. Since the economy was so weakened, that is when their bad business model caught up to them finally.
« Last Edit: April 29, 2009, 10:05:07 AM by luckee »
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Offline Mr. Kennedy
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« Reply #18 on: April 29, 2009, 10:21:02 AM »
Quote from: luckee
WRONG.

There is one single firm to blame.

MAC started this shit and then started selling paper to everyone else. Which is how AIG got involved.

GM got caught in the wrong place at the wrong time. They would have been just strong enough to survive if everything else did not fall around them. Since the economy was so weakened, that is when their bad business model caught up to them finally.

Wow, you just proved to me that you know very little about the credit crisis.  This was caused by people defaulting on their mortgages, which was caused by mortgage lenders giving mortgages to unqualified people, which was caused by greedy banks/investors who ran out of people to give mortgages to.

I didn\'t want to sink this low, but I can\'t take someone with cannibas in the profile picture seriously.  Am I stereotyping? yes.  But stereotypes are stereotypes for a reason, because most of time their true.
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\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #19 on: April 29, 2009, 10:41:42 AM »
Ahhh..b/c government deregulation from the 80\'s till recently had NOTHING to do with it.


MAC knew exactly what it was doing when they started to gamble. They could have won bigger than anyone can possibly imagine, just like AIG, but they didn\'t.

You are the one that knows little about this. My info comes from ppl that work at MAC, where does yours come from? Speculation and what we all have seen on the news with everyone trying to steer blame elsewhere.


Keep trying.

You have nothing so you attack my me via my avy? lol..moron.
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

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Offline Mr. Kennedy
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« Reply #20 on: April 29, 2009, 10:44:02 AM »
Quote from: luckee
Ahhh..b/c government deregulation from the 80\'s till recently had NOTHING to do with it.


MAC knew exactly what it was doing when they started to gamble. They could have won bigger than anyone can possibly imagine, just like AIG, but they didn\'t.

You are the one that knows little about this. My info comes from ppl that work at MAC, where does yours come from? Speculation and what we all have seen on the news with everyone trying to steer blame elsewhere.


Keep trying.

You have nothing so you attack my me via my avy? lol..moron.



http://www.crisisofcredit.com
« Last Edit: April 29, 2009, 11:00:49 AM by Mr. Kennedy »
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\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #21 on: April 29, 2009, 10:50:14 AM »
LOL

That guy is about as credible as either one of us....
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

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A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.-George Washington
Offline Mr. Kennedy
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« Reply #22 on: April 29, 2009, 10:55:01 AM »
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Initially, I researched printed news and spoke with several friends working in investment banks. However, I began turning more and more to audio and video sources for information.


Yeah this guy is just blowing smoke out his ass.    :rolleyes:
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\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #23 on: April 29, 2009, 11:08:31 AM »
I repeat, he is about as credible as you and I. I got info from ppl at MAC as well as video and print, just like this guy.

This guy wanted more of a digital showcase/portfolio if anything...lol
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

Don\'t cry over spilled milk., It could have been Whiskey.-Me

A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.-George Washington
Offline Mr. Kennedy
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« Reply #24 on: April 29, 2009, 11:11:49 AM »
This is more along the lines of "how does this work" than a "here\'s my opinion and who to blame."

To your point though, if that\'s the case, you can\'t call me wrong.  Your saying your story is correct and mine isn\'t.  This sounds rather hypocritical.
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\"In the last 12 months 100,000 private sector jobs have been lost and yet you\'ve created 30,000 public sector jobs. Prime Minister, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecidented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.\" - Daniel Hannan

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Offline luckee
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« Reply #25 on: April 29, 2009, 11:35:05 AM »
It all starts in one place and snowballs out of control is my point.

Many share blame in their own way, but it all starts somewhere.

The more that I think about it, The people trying to get us out of it are the same ones that set the wheels in motion to get us where we are.
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

Don\'t cry over spilled milk., It could have been Whiskey.-Me

A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.-George Washington
Offline Coredweller
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« Reply #26 on: April 29, 2009, 02:22:59 PM »
Are you referring to Freddie Mac?
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Offline luckee
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« Reply #27 on: April 29, 2009, 03:31:48 PM »
The .gov with MAC a close 2nd.
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

Don\'t cry over spilled milk., It could have been Whiskey.-Me

A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.-George Washington

Offline clips

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« Reply #28 on: April 29, 2009, 09:05:13 PM »
Quote from: Mr. Kennedy
Yes, because the housing market is doing so well right now.  Think before you speak.



Uhm..instead of trying to be a sarcastic smartass, how \'bout answering the question sherlock? The housing market is still struggling, but i think it could be alot worse if AIG folded. A deeper investigation of AIG revealed that if they went down, they would\'ve taken alot of innocent american families down with them, most likely a majority of families since they owned most of the mortgages (along with other institutions as i\'ve mentioned already)....i still say we couldn\'t afford to let them fold......
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Offline luckee
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« Reply #29 on: April 30, 2009, 04:18:02 AM »
Quote from: clips
Uhm..instead of trying to be a sarcastic smartass, how \'bout answering the question sherlock? The housing market is still struggling, but i think it could be alot worse if AIG folded. A deeper investigation of AIG revealed that if they went down, they would\'ve taken alot of innocent american families down with them, most likely a majority of families since they owned most of the mortgages (along with other institutions as i\'ve mentioned already)....i still say we couldn\'t afford to let them fold......



More than Americans. They hold roughly 74 million policies in 134 countries(forgot the total number)

Not to mention all of the "paper" they own across the globe.
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\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

Don\'t cry over spilled milk., It could have been Whiskey.-Me

A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.-George Washington
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