It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Why are we happy? Things might get worse now!

page: 1
0
<<   2 >>

log in

join
share:

posted on Sep, 29 2008 @ 09:23 PM
link   
Why are some of us happy the Emergency Economic Stabilization Act of 2008 was rejected? Sure, we can be happy the we will not be forced to bailout companies that might have no connection to ourselves, but did you hear the news today? Did you hear of all the bad things that might occur now that the Act was rejected? What about credit freezes, and companies not being able to make payroll, and ATM machines not dispensing money? I don't know how accurate these claims were (they were made on CNN, I think, if that makes a difference to anyone), but this is scary. The news reassured viewers that it isn't the end of the world (they actually said that!), but bad stuff can still happen, right? Is it safe to say that either way we loose?






posted on Sep, 29 2008 @ 09:31 PM
link   
Yup, you got a point it is going to for lack of a better word SUCK either way. Whether this bailout passes or not, the end is bad. If it doesn't pass it comes quicker we see who all the dead bodies are and rebuild sooner. IF it passes in some form this week, the end result is basically the same it just takes longer to fall all the way down and delays the rebuilding process. There is also a real possiblity of government failure if we continue to bailout all who come to the trough of taxpayer bailouts. If nothing passes we MAY survive with a functioning government. Continuing to open the public purse to the criminals that caused this will ensure at some point a .gov default on debt.



posted on Sep, 29 2008 @ 09:37 PM
link   

Originally posted by they see ALL
...but this is scary....


Yes it is.

If the bottom falls out, history will record an electorate incapable of extracting the truth from its failed political institutions.

This mess was long in the making. We're pretty much just along for the ride now.



posted on Sep, 29 2008 @ 09:43 PM
link   
Let me ask the OP a question. Was the money going to be used to PAY OFF PEOPLE'S MORTGAGES, or was it going to go directly into the pockets of the people running those companies, and to the pockets of shareholders?

If it wasn't to go to paying of mortgages, then how exactly is it going to "benefit" anyone but the rich?

I don't have stocks, and have no desire to play them. (off topic to discuss exactly why). So, how is this going to hurt me?



posted on Sep, 29 2008 @ 09:45 PM
link   
The people who need the bailout are just trying to scare the American public, so their whining little portfolios don't lose a couple points... grow up, and smell the coffee. Life isn't about making a few rich people happy. It's about learning how to live with the hardships that are righteous by choice.



posted on Sep, 29 2008 @ 09:49 PM
link   
No worries:

www.bloomberg.com...

Fed Pumps Further $630 Billion Into Financial System




Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.



posted on Sep, 29 2008 @ 09:51 PM
link   
While I am as nervous as the rest of us should be, I like to think of it as a much needed reset. Just like the 30's when those overindulged with the life of the Roaring 20's, I think we ( citizens of the US) have kind of lost touch with what makes this country great.

It has nothing to do with HDTV, SUV's, how BIG your HOUSE is, etc etc,

It is because we, for the most part are good hard working people, willing to get our hands dirty, willing to lend a helping hand, willing to accept another's culture ( as long as they respect ours), and not looking to possess every penny minted..

That's most of us... I would be willing to wager that that is actually most of the global population, friends and family are most important.

When the Great Depression happened, what caused it? was it the hard working not looking for a million dollars folk? I doubt it..

Same with this current crisis...

I say let the reset begin, I am ready to retill the ground and grow some winter crops, help neighbors do the same, make sure I have what I need for my family to survive...

...and should the worst happen and you find yourself in trouble, I will be around willing to help...

as long as you don't mind getting your hands dirty



posted on Sep, 29 2008 @ 09:55 PM
link   
I thought again on the topic subject, and I will directly answer it. You know why? BECAUSE THE VERY RICH ARE GOING TO GET THE SHAFT TOO. For the first time since 1929. They have been screwing over regular americans for almost 90 years now, at the behest of the elite (note: not one and the same), and now it's their turn. They get to feel what the last 10 years have felt like to average people.



posted on Sep, 29 2008 @ 09:57 PM
link   

Originally posted by they see ALL Did you hear of all the bad things that might occur now that the Act was rejected? What about credit freezes, and companies not being able to make payroll, and ATM machines not dispensing money? I don't know how accurate these claims were (they were made on CNN, I think, if that makes a difference to anyone), but this is scary.


“The best political weapon is the weapon of terror. Cruelty commands respect. Men may hate us. But, we don't ask for their love; only for their fear.” ~ Heinrich Himmler

The government and the world hope that we will live in fear of this collapse and have offered a way out.... shackling us with debt that was not of our making.


Is it safe to say that either way we loose?
No. As long as this bail out plan does not pass, we win our continued freedom and self-respect.



posted on Sep, 29 2008 @ 10:00 PM
link   
reply to post by they see ALL
 


I beleive that stuff is going to happen anyway, it's just a question of when.

Me personally--I'd rather see that stuff happen sooner, without the bailout fending it off a while.

Why? Two reasons:

1. I HATE sitting around waiting for the # to hit the fan. I'd rather take it head-on. The sooner we start our "depression," the sooner it's over and we can rebuild.

2. In my opinion the bailout is nothing more that Bush attempting to indebt the American public to pay off his buddies. I'd rather not, thanks.



posted on Sep, 29 2008 @ 10:16 PM
link   

Originally posted by sir_chancealot
Let me ask the OP a question. Was the money going to be used to PAY OFF PEOPLE'S MORTGAGES, or was it going to go directly into the pockets of the people running those companies, and to the pockets of shareholders?


I don't know, I'm new to this. Do you have the answer?


If it wasn't to go to paying of mortgages, then how exactly is it going to "benefit" anyone but the rich?


Again, I don't know.


I don't have stocks, and have no desire to play them. (off topic to discuss exactly why). So, how is this going to hurt me?


I was under the impression that we, if the Act was passed, would have to pay more taxes. This might hurt, right? Now that the Act was rejected, you may be hurt by things mentioned in the OP. Again, I am not expert on this
.





posted on Sep, 29 2008 @ 10:29 PM
link   
This is why I am happy, as distilled from my own post here in the large thread.



I say let the market tank to sort out the wheat from the chaff. As panic sells shore up liquidity, stocks devalue across the board which in turn strengthens the dollar by having greater purchasing power. The stronger dollar reduces the price of oil and as fuel becomes more affordable more discressionary spending can take place.



posted on Sep, 29 2008 @ 10:39 PM
link   
A few things:

I think that it is going to get worse regardless of if this bailout passes or not. This bailout is like putting a bandaid on a severed limb.

I also think that this is just political posturing. Look at how the vote went, the Dems voted for it and the Republicans voted against it. If I had to guess, Bush will issue some frightening speech tomorrow and the Republicans will "save the day" on Thursday when it is voted on again. They will "see the light" and change their vote, passing the bill. This way they get to look like saviors.

As others have said though, the financial system is broken. It is going to fail. This 700 billion dollar band aid might just be enough to dump it on the next administrations lap, but I would be surprised if it even makes it that far.

We are headed for bad times and it seems that the bailout will only make a difference to the banks and the extremely wealthy. Joe consumer is screwed either way.



posted on Sep, 29 2008 @ 10:45 PM
link   
No doubt, the rich will begin to feel a little pinch.

It will be -- say -- similar to the pinch we common folk feel right now due to gasoline and food prices.

There might be a few cutbacks here and there, among the ultra-wealthy. Perhaps a few less private jet planes, and a few less extra vacation homes.

I don't think there will be too much suffering. Just a lot of complaining.

Edit: You can always find something to complain about. We all know how fun that is, don't we?

[edit on 29-9-2008 by Buck Division]



posted on Sep, 30 2008 @ 01:56 AM
link   
*sigh* Why I am happy... by me.

I am happy because I can look my kids in the eye in 20 or 30 years and not have to try and justify supporting a trillion dollar (plus) bill that they'd be the ones paying off.

I am happy because for a change a majority of our representatives actually did their damn job and carried out the will of the majority of Americans.

I am happy because the money in my wallet my become harder to obtain in the near future, but will retain at least some value whereas the passing of this bill almost certainly would have resulted in hyperinflation.

I am happy because this has, at least for the time being, told the banking system in this country that we're sick of them screwing up every 20-25 years and we're done paying for their mistakes.

I am happy because I recognize that things could always be worse. Hell, I could be destitute and living on the street and still say "Eh, it could be worse."

I am happy because the bill failed and, while a 777 point drop is extreme, the market did not implode and leave a smoldering crater in the middle of downtown Manhattan as we were fear mongered into believing would happen.

I am happy because this was a bill which was attempted to be ramrodded through passage via the mechanism of fear, sans any opportunity for public discussion and sans any mechanism by which we the people could have questions and concerns addressed nor grievances redressed about the bill.

I am happy because we delayed handing over immeasurable power to a non elected individual, the Secretary of the Treasury, and his money changers, the Federal Reserve.

I am happy because I do not know what tomorrow holds... it could hold unimaginable financial disarray and suffering... but maybe, just maybe it will hold glimmers of hope & small gains outside the financial institutions which might snowball into an economic recovery that doesn't involve socializing our banking system and pawning our children's freedom from federal debt.

I am happy because the rest of the world is NOT. That may make me sound like an ass, but in my 32 years I have observed that, generally speaking, when the rest of the world is unhappy with the US it means that we've done something right and done something that ultimately is in our best interests.

I am happy because the failure of the bailout has presented an incredibly rare opportunity for us to show the world that free market capitalism IS still the the best system around and the market will correct itself, ultimately regaining it's losses and ending up stronger than ever without the government overseeing it's every move.

Finally, I am happy because it is the one thing in this world which I can control. I am the only person who can decide whether I am going to be happy or sad or angry or bored or horny or outraged or satisfied. I cannot control any other aspect of this life as thouroughly as I can control my own emotional state. Even in the darkest hour, sitting in the darkest pit of hell, a man can remind himself of something from his life which made him feel comfort and happiness and call upon that memory to bring a beam of light into his heart. In the end, that's why I am happy... because I can be.



posted on Sep, 30 2008 @ 02:17 AM
link   
I think we should all start downsizing. I am downsizing, not because I want to, but because I'm forced to. I'm not very happy right now, because I'm going through financial hardship, and I just heard that gas will be going up to $5 per gallon. I do worry about our government and the big corporations. I think that sometimes, if you've been given so much, or if you grew up wealthy, that you don't understand the financial hardships of others. People are truly worried about the economy, and the powers that be don't even have a clue about what we are going through.



posted on Sep, 30 2008 @ 02:23 AM
link   
reply to post by Blueangel7
 


Downsize how? Sell your house and buy a smaller one? Good luck finding a buyer and then good luck getting a loan.

If you didn't take the steps to downsize a month or two ago, you are pretty much along for the ride now.

I am sorry if this sounded hostile. It wasn't meant to. I am just agitated because I have been thinking about downsizing myself, only to come to the realization that I am stuck until the economy stabilizes. The BIG PROBLEM is that it probably isn't going to happen for a long, long time.



posted on Sep, 30 2008 @ 02:33 AM
link   
reply to post by they see ALL
 


Who is happy? I think we are more just thankful this didnt pass.
You are putting words into peoples mouth.. And that is never a safe bet.

I will speak for myself here. I am tired of this rat race!! I am tired of making these rich Sobs more and more money.
I am tired of trying to scrape up a couple hundred bucks just to get some food, or buy new boots for work.
While these guys can piss away their billions and billions of dollars on mistakes they made!!
I happen to feel they have no real want to help the people of this country.
They want to make money!!! And when they invest their money, and it doesnt pay off.. We are left to pick up the tab.
Well I am tired of this crap.. I dont work my butt off 50+ hours a week, to pay for Bush or his buddies to make a few more billion dollars!

Most of us are just trying to make it threw. And honestly you want to know my little truth. I hope it all comes crashing down.
As I know how to live, and I know how to surive! Ive done it before!
And all you rich and weak people who never had to do an honest day of work are truely worried.
No one is going to bail you out this time! And you might just have to understand what its like to live near the bottom.
Ive lived at the bottom all my life.. I have nothing to lose!!!
For once, the people with nothing to lose are much better off!!
Funny huh how you rich, and elites did this to yourselfs.

From me having nothing to begin with.. I have nothing to lose.
And only something to gain from this mess..
Wicked I know.. but its my little truth.

This system sucks! And finally maybe things will change.. But with any change comes hard times..
But not so hard when its been hard all your life.. No BIG change there.
More of the same old same old.. Tuff times.. lol bring um on.



posted on Sep, 30 2008 @ 02:46 AM
link   

Originally posted by Karlhungis
reply to post by Blueangel7
 


Downsize how? Sell your house and buy a smaller one? Good luck finding a buyer and then good luck getting a loan.

If you didn't take the steps to downsize a month or two ago, you are pretty much along for the ride now.

I am sorry if this sounded hostile. It wasn't meant to. I am just agitated because I have been thinking about downsizing myself, only to come to the realization that I am stuck until the economy stabilizes. The BIG PROBLEM is that it probably isn't going to happen for a long, long time.


Karl, I don't think you sounded hostile at all. I'm very fortunate that I did sell my house, there are so many who have gone into foreclosure. I am going through such difficult financial times, though. It's so frustrating when you feel that the powers that be don't understand or don't even CARE that Americans are sinking financially. I hope and pray that it all works out for you. I would just go for it, and see what happens. Wishing the best for you!



posted on Sep, 30 2008 @ 02:58 AM
link   
reply to post by they see ALL
 


Well we all agree that the federal reserve is a bad system and something new needs to start being thought of.... so maybe by this bailout failing it gives some people hope that something new and better is on it's way?

[edit on 9/30/2008 by PuRe EnErGy]




top topics



 
0
<<   2 >>

log in

join