Bail-out won't work - Steve Keen on SBS News 4-10-2008

Steve Keen on SBS News 4-10-2008 claims the US bail-out won't work

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News & Politics

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• Keen
• bailout
• bail-out
• SBS
• US

[55310442]

An the Australia government encourages people to borrow more and spend more. It did not make sense. People will only go more into debt and the situation will get worse when unemployment rates start to rise.

[silencedjustice]

thank god for stephen keen. The only one making any sense.

[peterpetersbng]

@55310442 Its a lack of balance.People and governments have to learn come to terms with these crisis.. when recession hits its too late.. but in the run run up to weaker economic growth and a pending recession its up to the Government to have a system in place and the correct information to guide people and tell them what they can do to prevent it . but in way that hits home . we all to work at preventing it happen . but in a deep and meaning full way that balanced

[Trashfished]

@CmdrTobs Hey pal I just watched an interview with S&Ps CEO. He said entitlements have to be delt with. period.

[CmdrTobs]

@Trashfished S&P cut America's debt rating because it just past a large spending cut before the private sector recovered. That's why. They were more than happy to roll over Americas debt at AAA.

Instead the US has chosen the failed path Japan took of stagflations and a decade of no growth and investors are taking note.

Investors care far more about the 40Trillion private sector debt and spending than they care about government cuts. If you believe otherwise, then you have been duped.

[Trashfished]

@CmdrTobs Well he can keep paying off the3 unions now, the welfare fucks will get their checks also. He is the foodstamp president. Our S&p rating just got dropped for the first time ever!LMAO and you say he dont own this one!!

[CmdrTobs]

@Trashfished "He wants to raise the debt ceiling without cutting spending at all!" - It amazes me how some ppl think they can just flat out say something that isn't true in the information age. Obama did offer spending cuts. Just because you don't like/agree with someone is not license to say absurd things.

"He owns this mess pal" -hmmm.

Your bellicose attitude is telling of how confused you are and how little you understand.

[Trashfished]

@CmdrTobs Uh how do ya like fuckhead obama now!!LMFAO!! He wants to raise the debt ceiling without cutting spending at all! Ya watch his speech today??? It give ya chills up your legs???LOL! He owns this mess pal,. And by the way go take an economics 101 class before you open your mouth again.

[CmdrTobs]

@Trashfished what? Looked at some of your posts. All I can say is you need to read up on what exactly has broken the budget starting from when it went south in 2001.

[Trashfished]

@CmdrTobs If they reduce spending all the welfare f#cks wont get thier bridge card to trade for dope. That would be unacceptable now wouldnt it?

[CmdrTobs]

@Trashfished not particularly Obama. The structural deficit was well in place before 2009 finish fiscal year. When you look at the increased deficit of the 2010 ending fiscal year a large part of that is large contract of tax revenue from 2008.

It's not even bush.... It's congress and people who believe you can fight wars off the books, tax cut but not reduce spending, Medicare D etc etc...

[Scooternz]

@55310442 manipulation of the unemployment rates is happening in the US, its believe to be as high as 18% check out the 'U6 Rates' in Australia....