Yeah, but please ask a Japanese citizen about the "Lost Decade" and see what he says. They did the same exact things and they're still paying for it. Stagnant stock market and the economy owned by the carry trade.
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What Are You Doing Right Now? (161 Viewers)
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And why did he do it? AIG received funding back in October and they're still back asking for more, even after promises they wouldn't need another injection of capital. We are wasting tax payer dollars and increasing our risk of massive inflation by trying to bail out these banks - not to mention creating a moral hazard where we reward these assholes for bad behavior and say here, go out and compete with the better firms in the market. No matter what, we can't keep doing this quarter after quarter and history tells us it has never worked, so we are wrong for doing it. At least it my view. Who knows, perhaps magically all this borrowing and spending will be the cure to the economy just like an alcoholic being cured with a bottle of Scotch.
OP
No I am, you are comparing 3rd world countries to the US, the only one viable is Japan, and they are fine now.
They got fucked, but they are okay now, if it's 10 years until we come out of this, okay.
All of our parents will have jobs, Vinni will have a job.
Trust me, it'll be okay, now have a suck of bitty......
They got fucked, but they are okay now, if it's 10 years until we come out of this, okay.
All of our parents will have jobs, Vinni will have a job.
Trust me, it'll be okay, now have a suck of bitty......
But they just end up making the problem worse by bailing them out. Other institutions would come in to take those assets and liabilities, garner themselves more business, and run better organizations. Yet now we gave them money which they've sent into a black hole, came back asking for more, and we are at the same position we were in during the Fall.
Guaranteed: next quarter they will be demanding even more money. We are simply prolonging the misery and making things worse by doing it. And I don't want to fund this nonsense over the span of my life.
Guaranteed: next quarter they will be demanding even more money. We are simply prolonging the misery and making things worse by doing it. And I don't want to fund this nonsense over the span of my life.
Regurgitation. I heard that on Fast Money last week too. But the truth is these banks are major employers, in fact AIG handles a lot of government claims. The same with the auto industry as far as employment. Punishing the banks in the manner you suggest would ultimately punish thousands, maybe even millions of Americans. What President would allow that?
Japan is a third world country?
Of course I want the best for the nation, but all superpowers have come to an end. It would be foolish and arrogant of us to totally discount a national collapse (like everybody does because they think they know better), as the same arrogance consumed other empires in the past. I'm telling people right now, the amount of debt we have could be catastrophic, worse than any country has seen before, so that's why I'm against borrowing even more money from Asia to fund these bailouts.
You don't have to listen to me though. Educate yourself.
Of course I want the best for the nation, but all superpowers have come to an end. It would be foolish and arrogant of us to totally discount a national collapse (like everybody does because they think they know better), as the same arrogance consumed other empires in the past. I'm telling people right now, the amount of debt we have could be catastrophic, worse than any country has seen before, so that's why I'm against borrowing even more money from Asia to fund these bailouts.
You don't have to listen to me though. Educate yourself.
Yeah, and where are the banks' stock prices after the first bailout?
Wayyyyyy closer to bankruptcy than only a couple months ago.
These banks are insolvent, and all we can do is throw more money at them ( at our expense ) before they finally wither away.
But sure, approve of wasting billions of our money when the solution is right there, even if it would be tough.
Wayyyyyy closer to bankruptcy than only a couple months ago.
These banks are insolvent, and all we can do is throw more money at them ( at our expense ) before they finally wither away.
But sure, approve of wasting billions of our money when the solution is right there, even if it would be tough.
OP
Are you an idiot?
Other companies would step in and "take those A+L?" Are you idiotic?
Geico is going to pay out claims and hundreds of thousands of dollars to people who don't own any of their policies.
So you end up with some guy who got fucked in a car accident stuck in the hospital with $300,000 in med bills, but he's got to pay it because the insurance company he bought his policy from went in the tank, even though he's been feeding the company money for years.
Good idea, Andy, why not give you the gun and you can shoot him.
Are you just now getting that?
Other companies would step in and "take those A+L?" Are you idiotic?
Geico is going to pay out claims and hundreds of thousands of dollars to people who don't own any of their policies.
So you end up with some guy who got fucked in a car accident stuck in the hospital with $300,000 in med bills, but he's got to pay it because the insurance company he bought his policy from went in the tank, even though he's been feeding the company money for years.
Good idea, Andy, why not give you the gun and you can shoot him.
Are you just now getting that?
OP