Bush proposes $700 billion dollar bailout to congress - The Postgame Pub

**Chubz** · 09-20-2008, 12:17 PM

http://money.cnn.com/2008/09/20/news...ion=2008092009

Wow, for it to be passed democrats want help for home owners and unemployment benefits extended to at least a year for people about to be unemployed or are exhausting their benfits right now.

oceanspraypink · 09-20-2008, 12:41 PM

Sounds great but not sure if it will really fix anything. The dollar is weak, that is a big problem. But we need something to get everything back on track!

Here's to keeping my fingers crossed!

**Chubz** · 09-20-2008, 06:36 PM

the dollar is actually at its strongest point it's been in years. It really has everything to do with possible bank failures.

oceanspraypink · 09-20-2008, 08:35 PM

Do you not think that this bill will weaken the dollar? We are increasing the national debt. Correct me if Im wrong, but I thought that if ammount of money needed is greater than the money we have makes the dollar weak, it gets stronger as the need for money is less than the money we have.

**dohcdelsol93** · 09-20-2008, 08:54 PM

i'm confuseded....shouldn't we be trying to cut national debt???

and wouldn't making law changes to both kick illegal immigrants out of america and bring jobs from over seas back to america be the best way to help the american working class AND help turn around our recession?

To me it's just putting a band aid on a broken finger when you know you're about to lose the arm.

It's time to stop the band-aids and actually fix the problems. Give people their jobs back, tax the shit out of imported goods ESPECIALLY the shit that can be made,grown, manufacured here at home.

It's time these multi million/billion dollar companies stop penny penching and open up their pocket books. Sure the outsourcing is doing wonders for them now but when we really hit rock bottom they will have to find a new market for their products all together because americans won't be able to afford shit.

Bring jobs back to america and have americans working those jobs.

Pretty simple IMO

RNPoo7 · 09-20-2008, 09:17 PM

There's a lot un-educated information floating around in this thread!

First of all, the dollar doing MUCH better than it has been the recent few years as Chubz said.

Second of all, all these issues are brought about by the lending companies. I've said this before and I will say it again. It's a cycle. Happens about every 15 years or so.

Lenders get plenty of money and everybody is doing great and start lending to people they should never have lended to. Start doing 2nd mortgages when people can't afford it. And giving people home mortgage with zero down. Pretty damn stupid.

Suddenly the bubble bursts, and the lenders tighten up like crazy. It's pretty normal. Has happened in the 70s and in the 80s. Nothing new. However it's a worse this time around.

The country has a lot of debt yes, but it MUST help out and save those big players otherwise hello Great Depression #2. This is serious business. When one of those lenders with BILLIONS of dollars fail, the entire country fails. Plan and simple.

In the 70s and 80s, the gov't saved them. They have to, or we all will be in big doo doo. This year the gov't might not be able to save them because it's really bad, but we'll see.

Putting a tarrif on imports???? That's just crazy. If you are allowing free trade, you are history!

People can whine and complain all they want about the factories moving over seas but nothing can be done. You have to do it or else you will get killed. It's not an option.

Welcome to Globlization. We can't sit here and close our doors. Some people will get hurt yes, but we are the biggest nation with services imported all over the world. We are winning right now but not for long.

China and India are catching up REALLY quickly and will probably pass America relatively soon. Why? They joined the WTO. (world trade organization). They're not living in their own little world anymore. They said hey!! FREE TRADE MAKES US HAVE MORE TOYS!

It's a cycle, you will see China and India become very similar to the United States and when that happens, all these factories and call centers will move to poorer country and repeat the same thing.

The goal of every single country is to maxmize shareholders wealth. This means that they gon't give two shits where the facdtories are going as long as they make profit. If factories stay in the United States, they loose big time and firms close down. NO QUESTIONS ASKED!!!!

However, these profits are reduced by other things. Other things being gov't regulations, making the firm have a positive image, company must recyle and be earth friendly. It's a self check really. If you don't do those things, you will be forcec by the gov't to be heavily regulaed. So it works out at the end.

I'm gonna stop here because I don't feel like typing anymore!

**Agent Zero** · 09-20-2008, 10:01 PM

Quote:

Originally Posted by RNPoo7

There's a lot un-educated information floating around in this thread!

First of all, the dollar doing MUCH better than it has been the recent few years as Chubz said.

Second of all, all these issues are brought about by the lending companies. I've said this before and I will say it again. It's a cycle. Happens about every 15 years or so.

Lenders get plenty of money and everybody is doing great and start lending to people they should never have lended to. Start doing 2nd mortgages when people can't afford it. And giving people home mortgage with zero down. Pretty damn stupid.

Suddenly the bubble bursts, and the lenders tighten up like crazy. It's pretty normal. Has happened in the 70s and in the 80s. Nothing new. However it's a worse this time around.

The country has a lot of debt yes, but it MUST help out and save those big players otherwise hello Great Depression #2. This is serious business. When one of those lenders with BILLIONS of dollars fail, the entire country fails. Plan and simple.

In the 70s and 80s, the gov't saved them. They have to, or we all will be in big doo doo. This year the gov't might not be able to save them because it's really bad, but we'll see.

Putting a tarrif on imports???? That's just crazy. If you are allowing free trade, you are history!

People can whine and complain all they want about the factories moving over seas but nothing can be done. You have to do it or else you will get killed. It's not an option.

Welcome to Globlization. We can't sit here and close our doors. Some people will get hurt yes, but we are the biggest nation with services imported all over the world. We are winning right now but not for long.

China and India are catching up REALLY quickly and will probably pass America relatively soon. Why? They joined the WTO. (world trade organization). They're not living in their own little world anymore. They said hey!! FREE TRADE MAKES US HAVE MORE TOYS!

It's a cycle, you will see China and India become very similar to the United States and when that happens, all these factories and call centers will move to poorer country and repeat the same thing.

The goal of every single country is to maxmize shareholders wealth. This means that they gon't give two shits where the facdtories are going as long as they make profit. If factories stay in the United States, they loose big time and firms close down. NO QUESTIONS ASKED!!!!

However, these profits are reduced by other things. Other things being gov't regulations, making the firm have a positive image, company must recyle and be earth friendly. It's a self check really. If you don't do those things, you will be forcec by the gov't to be heavily regulaed. So it works out at the end.

I'm gonna stop here because I don't feel like typing anymore!

YEAH!!! What he said!!

**dohcdelsol93** · 09-22-2008, 10:51 AM

then in order to help keep plants that are currently in the US to STAY in the US we should provide tax breaks for them. We should also make it harder for companies to shut down shop and move to another country to increase profits.

a sort of fair tax if you will. Something to help companies that are in the US compete with outsourced competitors.

Alot of companies who moved the US to cheaper countries did not move because they were losing money. They were moving to increase profits. Greed is what drives this world. People who worked in textile mills across the south were fucked. These guys only knew mill work. Where do they go now? Should the gov't have provided the textile companies with a fair tax to allow them to compete with outside textile companies half if not more of the mills would still be up and running.

We need to do something very soon or else the american working class won't be able to buy anything whether it's made in the US or China. If that's the case these companies better hope like hell that china and India keep booming because the US won't be around to buy their shit. We will be a country like russia after communism fell, we will be in lines for bread.

**dohcdelsol93** · 09-22-2008, 10:52 AM

People in China will be buying American mail order brides.

oceanspraypink · 09-22-2008, 02:41 PM

China pretty much gives the US a 200 billion dollar loan each year... this ends up being repaid by buying products that are made in China. If America keeps going the way it is going, China won't be able to keep up and will be looking to do some major changes oh Ill say atleast 2015.

As for the weak dollar I hear the other day that it was down 11% according to the Federal something... (brain fart with the name, lol)

In the end China WILL own America one day...is it to late to move to Canada? They seem to be doing well!

RNPoo7 · 09-22-2008, 03:52 PM

Quote: