us economic collapse megathread



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Guy Tuttle and Ass
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http://finance.google.com/finance?q=INDEXDJX:.DJI%20INDEXNASDAQ:.IXIC%20INDEXSP:.INX

So the bailout failed a couple hours ago, and the market is more or less in a freefall. In the 20 minutes that I've been watching, the DOW has fallen about 80 points.

What do you all think about this? Who are you blaming?

also chickens coming home to roost, we're all gonna die, no one is safe, VOTE RON PAUL GOLD STANDARD, see you fuckers in the bread lines etc

This reply was last edited on 09-29-08 12:23:06 PM by Guy Tuttle and Ass.

IF0
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Quoted from http://www.msnbc.msn.com/id/26884523/:
WASHINGTON - The House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive into recession without it.

Adopt a

Ztolk
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definitely threw the blue lego

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What are the effects of this going to be?

"I used the internet to get laid once. That is not a shining moment of pride for me. The worst thing? She evidently gave me chlamydia, which I evidently got cleared up."
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ba
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and i said, a\re you a gay ass fucker who can't take a baseball up the ass you faggot???? and he said yes........

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bread lines? fuck that.

I'll see you guys in Europe. or Australia maybe.

~British Agent
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"So it goes." - KV

Amphytrite
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I don't really even like hearing about it or reading about it

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Quote:
VOTE RON PAUL GOLD STANDARD

signed

Honestly, I'm still getting my mind around the fact that all this is happening. I haven't gotten to the point of blaming anyone yet, but when I do I probably won't know who to blame. I'm sure you'll all tell me whom I should blame, though.

It's really annoying to me that the conservative asshats of Congress can't realise that without this bailout plan, the economy's going to head swiftly downhill.

Quoted from MSNBC:
Despite pressure from supporters, not enough members were willing to take the political risk just five weeks before an election.

What would this nation be if politicians had balls?

Spiff: amphytrite, the anti-tart

Guy Tuttle and Ass
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One rep from Texas said that the bailout would put the US on a "slippery slope to socialism"

Guy Tuttle and Ass
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DOW now at -715 for the day

this is just a market correction!!! this is good!!!

also,

C
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This is going to have an impact on my life, but I'm just not sure of the extent yet. I might actually vote for Obama after seeing the way McCain made such a big deal about his campaign being suspended to lead congress to passing this and now completely ignoring it.

Plus I hate Sarah Palin and McCain will die within four years, but that's Off-Topic.

Quote:
What would this nation be if politicians had balls?

Better?

The sad thing is, that someone will use this in a mudslinging competition in a few weeks.

Whoa, the news just said this was supposed to be the last day of work for the House for the year. And they went home around noon today.

What the fuck? Why would you just leave after you fucked over the entire nation? I fucking hate politicians, oh my god.

I don't have a drinking problem.
I drink, I get drunk, I fall down.
No problem.

Amphytrite
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I don't really even like hearing about it or reading about it

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It's time to replace the Charging Bull with the Slumbering Bear.

Spiff: amphytrite, the anti-tart

ba
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well, I used to have money in mutual funds.

~British Agent
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C
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Do us all a favor and don't sell.

I don't have a drinking problem.
I drink, I get drunk, I fall down.
No problem.

C
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Who the fuck is Bush talking to?

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Agon
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hey dumbasses, fuck the market

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNKGD.bJwmRA&refer=home

Quote:
More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely.

so quit bitching about the bailout which would have cost every man, woman, and child in the US $2,000. Fuck corporate welfare, let the market clean house

Guy Tuttle and Ass
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Quote:
The sad thing is, that someone will use this in a mudslinging competition in a few weeks.

They had better use it against the people responsible! Any senator or representative who voted for deregulation any time in the past 16 years should be held accountable for it during this election and the 2010 election. It's absolutely their fault that we're in this mess in the first place.

IF0
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Dow just rose 100 points in the last 10 mins though. I'm refreshing it a lot at work.

Adopt a

C
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John McCain's speech was stupid.

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No problem.

Agon
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p.s. this is an issue of insolvency, not liquidity, that's why the bailout would cause more trouble in the long term. let's let our failing businesses fail instead of propping them up, and pick up the pieces instead of kidding ourselves about the economy for another year

Pertti Susilainen
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When will you (as a nation) learn that intervention does not equal socialism, that socialism does not equal communism, and that communism does not equal evil?

Ðonne onwæcneð eft wineleas guma, gesihð him biforan fealwe wegas, baþian brimfuglas, brædan feþra, hreosan hrim ond snaw hagle gemenged. Þonne beoð þy hefigran heortan benne, sare æfter swæsne. Sorg bið geniwad þonne maga gemynd mod geondhweorfeð, greteð gliwstafum, georne geondsceawað secga geseldan; swimmað oft on weg. Fleotendra ferð no þær fela bringeð cuðra cwidegiedda.
The Wanderer, l. 45-55a

C
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We won't.

And Agon, when the failing businesses are the mortgage holders for half the nation, something probably needs to be done.

I don't have a drinking problem.
I drink, I get drunk, I fall down.
No problem.

ba
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A decent quote I heard:

Quote:
Investment bankers are holding a gun to their own heads and threatening everyone else by saying they're going to pull the trigger.

~British Agent
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Guy Tuttle and Ass
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Quoted from Agon:
p.s. this is an issue of insolvency, not liquidity, that's why the bailout would cause more trouble in the long term. let's let our failing businesses fail instead of propping them up, and pick up the pieces instead of kidding ourselves about the economy for another year

Who the hell's going to pick up the pieces? What about the millions of people who have their retirement in mutual funds? Just let the market sort them out?

C
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We're going to close more than 600 points down for the day.

I don't have a drinking problem.
I drink, I get drunk, I fall down.
No problem.

Agon
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I'm glad a shitty plan got voted down. Show me the good plan and sign me up, guys. This bailout vs inaction is a false dichotomy.

User was warned for this post.

D
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i didn't have the strength to get it all the way off

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Holy fuck

C
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667 points down.

What's the credit market look like?

I don't have a drinking problem.
I drink, I get drunk, I fall down.
No problem.

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