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RE: Next administration and the economy - 9/20/2008 6:40:44 PM
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todd_t
Posts: 1590
Joined: 6/21/2006
From: The North Woods
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quote:
...by the end of this weekend, I would say the next President is going to have VERY FEW options....
-inherit a record deficit from the current administration
-Iraq war
-Afghanistan war
I agree. The next president is going to inherit a of world of headaches from the previous one. In a way, I'll feel sorry for whomever wins the election.
quote:
If the government did nothing, you could count on the financial markets collapsing... something many politicians were already predicting. Is that really what you want? Is your hatred so intense that you would prefer to inflict unimaginable economic disaster on the poorest of citizens?
If the financial markets collapsed, we would be facing another situation like 1929. I don't think anyone really wants that... do you?
Dubya, I think people are angrier that this whole mess could have been avoided had Republicans not so passionately embraced a dereg philosophy toward Wall Street.
I'm not saying that government should have its finger in every American pie, but on the other hand, it shouldn't take such a fierce, hands-off role either.
_____________________________
In Memoriam: 1st Sgt. Obediah Kolath, US Army, Died in Iraq War (1973-2005)
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RE: Next administration and the economy - 9/20/2008 8:35:06 PM
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csl7037
Posts: 1762
Joined: 3/24/2008
Status: offline
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quote:
ORIGINAL: todd_t
I'm not saying that government should have its finger in every American pie, but on the other hand, it shouldn't take such a fierce, hands-off role either.
Now Bush is being criticized for being hands-off? That makes no sense whatseover.
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RE: Next administration and the economy - 9/20/2008 9:12:40 PM
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todd_t
Posts: 1590
Joined: 6/21/2006
From: The North Woods
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quote:
Now Bush is being criticized for being hands-off? That makes no sense whatseover.
Perhaps not Bush per se, but the philosophy of deregulation taken to unhealthy extremes.
_____________________________
In Memoriam: 1st Sgt. Obediah Kolath, US Army, Died in Iraq War (1973-2005)
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RE: Next administration and the economy - 9/21/2008 12:11:59 AM
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AdrianaS
Posts: 1224
Joined: 3/21/2007
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quote:
ORIGINAL: todd_t
quote:
Now Bush is being criticized for being hands-off? That makes no sense whatseover.
Perhaps not Bush per se, but the philosophy of deregulation taken to unhealthy extremes.
This deregulation philosophy is very much irresponsible in my little understanding of it. Hopefully there will be some sort of "patrol" from now on until they prove mature and honest enough to be "trust". Plus what I don't understand how this mess that was started by few (?), end up inside big corporation..hmm then those big companies have no patrol inside themselves to block trash and scam like antivirus, firewall?
I am very much pro patrol and less deregulation philosophy... am I a socialist by prefering that?
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RE: Next administration and the economy - 9/21/2008 12:19:45 AM
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blessedinnyc
Posts: 1966
Joined: 10/12/2007
Status: online
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quote:
ORIGINAL: AdrianaS
This deregulation philosophy is very much irresponsible in my little understanding of it. Hopefully there will be some sort of "patrol" from now on until they prove mature and honest enough to be "trust". Plus what I don't understand how this mess that was started by few (?), end up inside big corporation..hmm then those big companies have no patrol inside themselves to block trash and scam like antivirus, firewall?
I am very much pro patrol and less deregulation philosophy... am I a socialist by prefering that?
Adriana,
I think the point here is that there is a set of rules you can follow that will help avoid these problems in the future. In computer science, we have numerous different design principles that help us avoid problems, and they're all there for very good reasons. If you have to violate one of these principals, chances are, something down the line will later happen that will make you regret violating it. In the same way, if we allow financial institutions to exceed certain leverage ratios, we will probably wind up regretting it in ten years. I don't think enforcement will be that difficult or Nazi-like; every publicly traded institution is required to produce a balance sheet. Whoever is in charge of enforcement can just look at the balance sheet and determine if they need to make any phone calls. No need for socialism or fascist-like control; just a simple system that keeps the financial world ready for the next storm.
I know everybody hates regulation, but I think it's a necessity if we want to avoid issues like these in the future.
< Message edited by blessedinnyc -- 9/21/2008 12:26:06 AM >
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RE: Next administration and the economy - 9/21/2008 2:47:36 PM
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AdrianaS
Posts: 1224
Joined: 3/21/2007
Status: offline
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quote:
ORIGINAL: blessedinnyc
quote:
ORIGINAL: AdrianaS
This deregulation philosophy is very much irresponsible in my little understanding of it. Hopefully there will be some sort of "patrol" from now on until they prove mature and honest enough to be "trust". Plus what I don't understand how this mess that was started by few (?), end up inside big corporation..hmm then those big companies have no patrol inside themselves to block trash and scam like antivirus, firewall?
I am very much pro patrol and less deregulation philosophy... am I a socialist by prefering that?
Adriana,
I think the point here is that there is a set of rules you can follow that will help avoid these problems in the future. In computer science, we have numerous different design principles that help us avoid problems, and they're all there for very good reasons. If you have to violate one of these principals, chances are, something down the line will later happen that will make you regret violating it. In the same way, if we allow financial institutions to exceed certain leverage ratios, we will probably wind up regretting it in ten years. I don't think enforcement will be that difficult or Nazi-like; every publicly traded institution is required to produce a balance sheet. Whoever is in charge of enforcement can just look at the balance sheet and determine if they need to make any phone calls. No need for socialism or fascist-like control; just a simple system that keeps the financial world ready for the next storm.
I know everybody hates regulation, but I think it's a necessity if we want to avoid issues like these in the future.
Thanks Blessed!
I was reading about the rescue plan package a bit and find this part worrying..:"U.S. Treasury Secretary Henry Paulson would have extraordinary powers over the massive warchest and his decisions would not be reviewed by any court, according to a copy of the draft legislation obtained by Reuters."
I find worrying that this package may not even work at all...plus the Congress must be careful to check everything also, as to pass the most important and needed issues of the plan but do not pass everything without checking first! I do not trust the present administration anyways and for 2 years that the plan supose to last even courts could fight the plan and the Treasury Secretary and etc...to me this control is way way too much. It may smell Mr.Bush's way of wanting those kind of powers and "nobody" can complain etc but shut up and go with the flow. Well, thank God I dont have kids and not giving this heritage debts to my of-fsprings and their off-springs...
Now the 700billions is suppose to help the foreigner institutions also...hm-mm I do agree with Democrats about using some of this money to help the 4 or 5 millions homeowners hurt by this mess also.
Another thing: who is lending all this money to the USA? When the Gov go to the Congress about budget in reality is asking Congress if we can have more debt on top of the already debt going on?
If I understood right the US is broken and have no money but debt, lots of debt. How come US still have credit on the market if has so much debt accumulating as the 2 Wars going on, Katrina, Ike and many other debts?
Thanks very much.
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RE: Next administration and the economy - 9/22/2008 12:08:49 PM
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cow451
Posts: 3985
Joined: 5/6/2005
Status: offline
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There is a silver lining to this. If Obummer wins and the dems win the House and Senate, the tying up of so much resource will limit the ability to implement new spending programs.
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Wenn Sie so intelligent sind, warum Sie hier sind?
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RE: Next administration and the economy - 9/23/2008 6:55:29 AM
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tracydolls
Posts: 1839
Joined: 3/30/2008
Status: offline
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quote:
Hopefuly that as "everybody" stop to ponder and who have real brains will go running for His help! Real grow can comes around when heardships hits people big time and we get to humble ourselves... bail outs and giving away, entitlement self rights of the proud and ungrateful etc, does not help anyone to mature as to finaly awake up to smell the coffee.
Ohh, it's going to do just that, humble us all. See God doenst need us to be rich on this earth to accept us in Heaven, He will take us broke, poor, starving, homeless.
Hopefully gone will be the 7 houses and 10 cars, private jets, enough diamonds to choke a person, while alot of the world starves.
I'm tired of watching girls that are too skinny because its a fashion statement in $500 shoes, $1500 purses, $5000 dresses.
Meanwhile little children with bloated stomachs and flies and diseases that just clean water would help.
I believe there's nothing the next president can do against Gods Will.
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RE: Next administration and the economy - 9/23/2008 12:25:03 PM
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AdrianaS
Posts: 1224
Joined: 3/21/2007
Status: offline
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Yep the cost of food all over the world is sky rocketing, food and help relief went up (if the relief really gets to those who need it and not taken by corrupt people etc).
I do hope that some provision will come up from the rescue package about the profits of those head and executives of those companies...money does not desappear in thin air they just change pockets..somebody making profits during thise crises, as all the injection money went on, not only by US but other Central Banks injected in the markets are "gone".
I do not think the 700 billions will be enough...lets wait and see... 
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RE: Next administration and the economy - 9/23/2008 7:20:38 PM
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Longfingers1
Posts: 444
Joined: 9/11/2008
Status: offline
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quote:
ORIGINAL: AdrianaS
Yep the cost of food all over the world is sky rocketing, food and help relief went up (if the relief really gets to those who need it and not taken by corrupt people etc).
Yes, it has! I live in the Galveston/Houston surrounding area and before the storm came, about a week before, food was high, but I could deal with it a bit (ended up going to Super Walmart to grocery shop, which was a first because they were cheaper than my regular store). After the storm, prices on lots of things doubled, iceberg lettuce was almost $2!!
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RE: Next administration and the economy - 9/23/2008 7:57:45 PM
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AdrianaS
Posts: 1224
Joined: 3/21/2007
Status: offline
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quote:
ORIGINAL: Longfingers1
quote:
ORIGINAL: AdrianaS
Yep the cost of food all over the world is sky rocketing, food and help relief went up (if the relief really gets to those who need it and not taken by corrupt people etc).
Yes, it has! I live in the Galveston/Houston surrounding area and before the storm came, about a week before, food was high, but I could deal with it a bit (ended up going to Super Walmart to grocery shop, which was a first because they were cheaper than my regular store). After the storm, prices on lots of things doubled, iceberg lettuce was almost $2!!
Bless your heart, Longfingers1 !
Sure praying for you guys at Ike's path and the many issues going on back there, as community and home rebuiding!
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