Bush: Economy at 'A Pivotal Moment'

President Bush says he is asking for congressional approval for the ability to take over troubled assets from banks and other tottering financial institutions, including purchasing sour mortgage-backed securities. (Sept. 20)

Category:

News & Politics

Tags:

• bush
• radio
• bush:
• economy
• 'a
• pivotal
• moment'

[digitalhermit]

This is theft, plain and simple. Paulson is being given unlimited authority to spend $700 billion USD printed out of thin air in order to bail out all his banking buddies at Goldman Sachs, Morgan Stanley and others.

All this monetized debt will have a tremendous inflationary effect on consumer prices (If you think $4 gas is bad you ain't seen nothing yet). And those who were conned into "saving for retirement" via 401Ks or IRAs will watch their savings purchasing power evaporate Zimbabwe style.

[BFTCaL]

I think it's what they call an ass rape.

[HoGraz]

@digitalhermit Damn. How is 401k a conjob? I read Reagan put that into place so I'm sure it's jaded as hell.

[NearingZero]

"YouTube" COPY&PASTE

Queda do império romano -- Nero Legendado [PARTE 5] PT-BR

[boots920]

Nothing is backing the US dollars, that's why it will fail too.

[3mas3]

Pivotal moment? yeah sure... downward. Everything Bush and the FED has done so far has been wrong, and with the accomplicement of the democrat congress.

This massive bailout is the cherry on the icing... It won't solve anything, and will leave the country worse off. That plan is like burning the money, just so wall street can feel optimistic for 2 weeks and make profits. It's just a quick fix.

The "just eliminate bankers debt into thin air by magic" plan is nonsense.

[idrobinhood]

CFR at work

Vague explained $500 Billion Dollar Bailout.

AIG given a loan or mortgage of $84 Billion at 12% interest. Suddenly $500 Billion made out of nothing or a $84 Billion loan. Debt into money. Nothing is backing the $500 Billion Bail out.

AIG is worth 100 time over its value...

[Gloriapower]

I thought helping Katrina victoms throughout the entire Golf coast was essential three years ago but as you know all our life saving equipment was in someone else's desert. Then Bush refused medical equipment, doctors, water, food, tents, boats, food, clothing, etc from more than 20 countries because, " We can take care of ourselves." Many of the same have still not recovered because we cannot when we are engaged in a war that had nothing to do with us. Want more of the same-vote McCain.

[cg66079]

It isn't actually being "printed". The debt is just being guaranteed by the federal reserve. It does have the same basic effect though. When you flood the market with more currency it results in inflation and a decrease in the value of the currency.

In times of crisis people turn to investments that hold intrinsic value, like gold. If you have money in gold, now would be the time to look at selling it, because the value is going to jump considerably as demand increases.

[IcyKitty]

It's free market as long as there are profits to be had..... the losses are carried on the backs of the taxpayers... new definition of Free Market I guess. I thought that the market place would make any corrections necessary and regulation was the killer of free market. I must have fallen asleep during that Economics 101 class