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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
The Bailouts - Did They Work?
Posted by:
Big Money
()
Date: June 07, 2009 09:42AM
Did the bailouts over the last year work? Is there any evidence of this? Was it worth it? They were grossly unpopular at the time, but things are getting better and I'm wondering if they actually worked. Your thoughts?
Re: The Bailouts - Did They Work?
Posted by:
Vince(1)
()
Date: June 07, 2009 10:08AM
Too soon to tell...there is already talk that additional stimulus may be needed.
Registered Voter...a Big talking coward..big man on FFXU...little man in life.
Registered Voter...a Big talking coward..big man on FFXU...little man in life.
Re: The Bailouts - Did They Work?
Posted by:
Keep an Eye Out
()
Date: June 07, 2009 10:12AM
As Vince said, it is too early to tell.
I think the money has definitely kept us out of a Depression for the foreseeable future. However, are we going to limp along for a decade, as the Japanese did in the 90s? Are we going to go through a bout of stagflation (inflation without growth) as we did in the 70s? Are we going to make a full recovery but be so saddled with debt that American gradually becomes a 2nd-class nation behind China and India?
It is way too early to tell. I hope everything works out right. But there's a lot that still needs to happen.
I think the money has definitely kept us out of a Depression for the foreseeable future. However, are we going to limp along for a decade, as the Japanese did in the 90s? Are we going to go through a bout of stagflation (inflation without growth) as we did in the 70s? Are we going to make a full recovery but be so saddled with debt that American gradually becomes a 2nd-class nation behind China and India?
It is way too early to tell. I hope everything works out right. But there's a lot that still needs to happen.
Re: The Bailouts - Did They Work?
Posted by:
formerhick76
()
Date: June 08, 2009 06:14PM
Agree with Keep an Eye Out. The safety net, FDIC, etc., will prevent an 1890s style bank run and/or depression. I suspect what we're seeing in the global economy is a flight to low-cost areas in much the same way a great deal of work fled to the lower-cost Sun Belt between the 1940s and 1990s. But ... it's harder for me to move to Shanghai than it is to move to Atlanta or Phoenix.
Re: The Bailouts - Did They Work?
Posted by:
Hopalong
()
Date: September 08, 2009 06:20PM
Vince(1) Wrote:
-------------------------------------------------------
> Too soon to tell...there is already talk that
> additional stimulus may be needed.
Well, is it STILL too soon to tell?
I don't think so.
-------------------------------------------------------
> Too soon to tell...there is already talk that
> additional stimulus may be needed.
Well, is it STILL too soon to tell?
I don't think so.
Re: The Bailouts - Did They Work?
Posted by:
har
()
Date: September 08, 2009 06:37PM
they worked just fine. look at how well the markets are responding. if the job market picks up, then you can stick a fork in this whole recession nonsense.
Re: The Bailouts - Did They Work?
Posted by:
Gravis
()
Date: September 08, 2009 07:25PM
har Wrote:
-------------------------------------------------------
> they worked just fine. look at how well the
> markets are responding.
i get the impression that they would have turned around the same way without government intervention. the banks would have survived by _actually_ tightening their belts instead of the show they put on for the government. i think the first bailout had a lot of banks conjuring up crocodile tears and we spoon fed them the second time around. then everyone and their mom wanted in on the action and got money on the third go. all the fat cats are getting their ridiculous bonuses which are more than what the average person even makes.
i think the public got suckered by a bunch of billionaires. it kind of reminds me of how the RIAA claims how much they are suffering when they are making record profits.
they embody the qualities of criminals.
i think all the banks should have to pay back the government with interest.
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."
Edited 1 time(s). Last edit at 09/08/2009 07:25PM by Gravis.
-------------------------------------------------------
> they worked just fine. look at how well the
> markets are responding.
i get the impression that they would have turned around the same way without government intervention. the banks would have survived by _actually_ tightening their belts instead of the show they put on for the government. i think the first bailout had a lot of banks conjuring up crocodile tears and we spoon fed them the second time around. then everyone and their mom wanted in on the action and got money on the third go. all the fat cats are getting their ridiculous bonuses which are more than what the average person even makes.
i think the public got suckered by a bunch of billionaires. it kind of reminds me of how the RIAA claims how much they are suffering when they are making record profits.
they embody the qualities of criminals.
i think all the banks should have to pay back the government with interest.
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."
Edited 1 time(s). Last edit at 09/08/2009 07:25PM by Gravis.
Re: The Bailouts - Did They Work?
Posted by:
WashingTone-Locian
()
Date: September 08, 2009 10:04PM
Gravis Wrote:
-------------------------------------------------------
> i think all the banks should have to pay back the
> government with interest.
The banks have actually been doing this. Many have already paid back the TARP funds they borrowed.
The fact is the bailout did work and, no, the economy would not be recovering this quickily without it. We are not 100%, but by this time next year I believe people won't be freaking out about the economy the way they have over the past year.
---------------------------------------------------------------------------------
http://bible.cc/1_corinthians/13-11.htm
-------------------------------------------------------
> i think all the banks should have to pay back the
> government with interest.
The banks have actually been doing this. Many have already paid back the TARP funds they borrowed.
The fact is the bailout did work and, no, the economy would not be recovering this quickily without it. We are not 100%, but by this time next year I believe people won't be freaking out about the economy the way they have over the past year.
---------------------------------------------------------------------------------
http://bible.cc/1_corinthians/13-11.htm