bailout money

AIG should have been allowed to bankruptcy, and the hedge funds that bought the insurance should have taken the bullet, but the fear was it would bring down the whole economy big time. Autos? People buy what they think to be the best bargain. All things considered the imports are the better value when it comes to and individual's finances. Driving a mile down the road in an American made car can be pretty expensive. The economics and business model of American made iron got out of control and all it took was some decent competition and now we now see the result. GM will be back after bankruptcy but it won't ever be the old GM we knew. Health care costs and other legacy costs caught up with GM and Chrysler soon Ford is going to have to also deal with these things.

I caught a blip on CNN this morning which caused me to rub my eyes and wonder if I had read the banner correctly. It said, I think, that we (USA) are now out of money.

Out of money?

Obama. There is a flash on it at the Drudgereport site:

As long as there are printing presses the Detroit Duds will suck our tax money up. Of course there are consequences: Weimar Germany of the 1920s.

Governments are unable to borrow money because the credit rating is sub-zero. The US Fed relies on creating new money as they are unable to raise and borrow the upcoming 1 to 2 trillion dollar deficit. In time this translates into currency dilution, otherwise know and devaluation of the dollar and inflation.

The course government is on right now is commonly agreed to a not sustainable.

Yes, the US government is broke, like GM it is running on debt with the added advantage money creation to dig even a bigger hole. But in the end it's ballon to will drop.

Correct. At some point the currency will devaluate into hyper inflation.

$400 barrel for crude, $10 gallon for gasoline, quite realistic actually. Possibly optimistic. The US government is getting close to trippling the money supply since last September yet the economy has shrunk.

Unfortunate that so many at the top of government are so stupid. I know believe I understand why native indians could take a herd of buffalo and get them to jump right off a cliff.

That is, I guess, what the left leaning voters wanted when they elected this socialist. I hope he is not a communist in socialist woolies.

Nationalising banks and Government Motors.... => Communism.

Who was it that said the real enemy of the US is from within?

As I see it, the government can print more paper, or tax everyone more, or both.

And "both" is probably what will actually happen.

We cannot sustain the levels of spending, waste, charity, and incompetence that have gotten us neckdeep in ooze.

We are long overdue a massive overhaul of government...Not just a change in personalities, but a complete housecleaning.

In message , HLS writes

You've just had that, rid of the buffoon Bush, and a new bright man called Obama.

Me, I am thinking anarchist for say 5 years. The whole concept of government in DC and Ottawa is now defunct. Let them close their doors in bankruptcy.

Why not let the citizens vote directly on the bills, financing, bailouts and the like? The politicians then would have to sell the idea to the people on how their money is spent. And not behave like freaking thieves.

Maybe even have annual votes. Just like employees do. We get to rate them and if they fall below par we get an election. (fire the loser).

It isn't like a horse and buggy has to go from LA to DC in 3 months to tally the votes.

And if it is verification you want because it is electronic, concurently post you vote to Rep, Dem, government, ABC, MSNBC, FOX all at once. So we know that government isn't fixing the vote.

nah, that's just one new thing, there's still a lot of cleanup to be done. And while Obama may mean well he's already made some missteps (CAFE for one)

nate

Oh hell no. I don't think the average person has any concept of "enlightened self-interest" merely only "self-interest."

What we really need are elected representatives who are thoughtful, have the best interests of the country at heart, and fill their staff with real experts and listen to their advice.

Sadly qualities like "photogenic-ness" and "likeability" seem to have more weight than "intelligent"

nate

In message , Canuck57 writes

But everyone knows that the vote was fixed, when Jed Bush assured his brother, he would be the next resident in the White House, remember hanging chads, anyone?

I remember the hanging chads, but dont know that it would have made any difference in the final outcome. IIRC, there were recounts, but they did not overturn the vote.

The president is only one of the problems. There are 100 senators and 435 representatives, many of whom are self serving porkers.

I am not sure we can afford this level of "democracy".

You've got a hope. How many thousand years we been on this planet? Never seen one yet.