bailouts

[flyingimam]

What I am faulting him for and also faulting McCain for is this idea that they both have been pushing that nothing is wrong. They both have been saying the economy is fundamentally strong! It is not!

i get it. i was just tryin to clarify things a bit to prevent attacks from your opposite point of view that would drive this thread to Bush-bashing subject and somehow eventually get it locked.

Or perhaps it is the opposite. Maybe the economy really is strong and this trillion dollars is simply being looted from us for no good reason. Maybe the bailout is not really necessary and it is just a big money grab?

i dont rule out the idea of money grab. but i certainly dont think an economy with 10 trillion dollars worth of debt is considered strong...

again our economy has long been based on consumer spending and guess what, 10 trillion dollars means some $30000 per capita worth of debt. meaning 30k for every man, woman and child in this land.

i dont know how no1 has never seen or noticed this gigantic flaw... we borrow money from foreigners and from our credit cards all the time to spend and be "capitalist" and yet we think OUR economy is str8?

we are on crash-course if we dont change our "fundamentals" of economy, that i dont doubt being in a business major.

or perhaps defaulting on foreign debt was the idea at first.... but now china is unexpectedly too strong for us to threaten?