Democracy still works. Bill a no go

OvertoneZero · Post by **OvertoneZero** » Thu Oct 09, 2008 8:02 pm

QUICK, GIVE THE BANKS ANOTHER $2 TRILLION!!!

NorthernMonkey · Post by **NorthernMonkey** » Thu Oct 09, 2008 8:23 pm

Emissary · Post by **Emissary** » Thu Oct 09, 2008 8:25 pm

lolcriples

ethios4 · Post by **ethios4** » Thu Oct 09, 2008 8:27 pm

deva wrote:Dow down 1800 since the 'bailout' bill passed

Hmm, so the executive branch was telling the legislative branch that if the bill was n't passed immediately the Dow would lose thousands in just a few days and martial law would be declared. Well, the bill passed and the Dow has lost 2000 in 5 days. Funny how the bailout was sold as an immediate solution, and now the talk is that it will take time to have an effect. Well damn, seems like we could have worked on it a few more days at least? So, what does this mean for martial law?

NorthernMonkey · Post by **NorthernMonkey** » Thu Oct 09, 2008 8:35 pm

ethios4 wrote:
deva wrote:Dow down 1800 since the 'bailout' bill passed
Hmm, so the executive branch was telling the legislative branch that if the bill was n't passed immediately the Dow would lose thousands in just a few days and martial law would be declared. Well, the bill passed and the Dow has lost 2000 in 5 days. Funny how the bailout was sold as an immediate solution, and now the talk is that it will take time to have an effect. Well damn, seems like we could have worked on it a few more days at least? So, what does this mean for martial law?

Don't go down the deva route Ethios, it's not worth it - the markets are simply reflecting the uncertainties of investors, the bailout will take months to calm that one.

ethios4 · Post by **ethios4** » Thu Oct 09, 2008 8:50 pm

Nah, I realize it will take time, it's just the fear-mongering from the Bush admin that annoys me.

Tone Deft · Post by **Tone Deft** » Thu Oct 09, 2008 8:52 pm

all of a sudden everyone's a finance expert, all news is bad news and a music software forum is the place for answers.

it's a sure sign that someone doesn't have a goddamn clue what they're talking about when all they can do is whine, complain and criticize. someone who knows a topic can speak to all sides of it and will admit they don't know what the hell they're talking about.

NorthernMonkey · Post by **NorthernMonkey** » Thu Oct 09, 2008 8:59 pm

Tone Deft wrote:someone who knows a topic can speak to all sides of it and will admit they don't know what the hell they're talking about.

I'm no expert but I think I fit that one perfectly - just checked my ISAs and they've fucking plummeted

Wish I'd started them now - hold on, that gives me an idea...

Emissary · Post by **Emissary** » Thu Oct 09, 2008 8:59 pm

Tone Deft wrote:all of a sudden everyone's a finance expert, all news is bad news and a music software forum is the place for answers.

it's a sure sign that someone doesn't have a goddamn clue what they're talking about when all they can do is whine, complain and criticize. someone who knows a topic can speak to all sides of it and will admit they don't know what the hell they're talking about.

i categorically state that i do not know what i'm talking about.........

....wait did you just trick me......

NorthernMonkey · Post by **NorthernMonkey** » Thu Oct 09, 2008 9:01 pm

'US stocks slide to five-year low'

Cue deva in 3, 2, 1...

forge · Post by **forge** » Fri Oct 10, 2008 1:32 am

ethios4 wrote:
deva wrote:Dow down 1800 since the 'bailout' bill passed
Hmm, so the executive branch was telling the legislative branch that if the bill was n't passed immediately the Dow would lose thousands in just a few days and martial law would be declared. Well, the bill passed and the Dow has lost 2000 in 5 days. Funny how the bailout was sold as an immediate solution, and now the talk is that it will take time to have an effect. Well damn, seems like we could have worked on it a few more days at least? So, what does this mean for martial law?

well I posted a link in one of the other threads on this from RCP which I think Tone Deft originally linked about 'is this a repeat of 1929' and one of the big comments in there that I think everyone should hold on to is in 1929 Government only made up 3% of the economy and now it's about 20% so govt spending etc is a major stabilising force

I think as much as we are all in contempt of the whole situation where tax dollars are supposedly bailing out fat cats, in reality there's a lot more involved in that, including the personal responsibility for those who got mortgages they couldn't afford. So the Government had to get involved to avoid a meltdown and it is exactly things like that that make now different to 1929

personally I think the media is doing a really good job of scaring the shit out of everyone and it's not going to be anything like as bad as eveyone is making out

recessions are important - they are a time to spend less, get your head down and work, yet everybody tries to avoid it like it's the plague when we should just let it run its course

I think Northernmonkey is probably one of the few people here who has a perspective on all this having actually worked in finance for many years, we can all indulge in fear (not directed at you Ethios) as much as we like, but the reality is life will go on and this too shall pass

there won't be another great depression because the infrastructure in our societies is vastly different to 1929

OvertoneZero · Post by **OvertoneZero** » Fri Oct 10, 2008 1:36 am

I lost my job today, fuck yeah!

forge · Post by **forge** » Fri Oct 10, 2008 1:46 am

OvertoneZero wrote:I lost my job today, fuck yeah!

shit man, sorry to hear that

my point was more about the media really encouraging this shit and not helping it pick up

and also that you wont end up in a bread line and will at some point find another one

I'm not saying people wont be affected, just that there really is a lot of shit floating around specifically trying to scare everyone

I think there's actually a pretty high chance I'll be affected soon too

Tone Deft · Post by **Tone Deft** » Fri Oct 10, 2008 1:48 am

OZ - fucking-a that sucks.

I can't think of a more complex topic than the worldwide financial system.

except women.

OvertoneZero · Post by **OvertoneZero** » Fri Oct 10, 2008 2:00 am

Ya I should have taken that job in Brisbane earlier this year, oops. Who knows when this shitstorm will end though and what it won't touch. yes it definitely seems like the media is just fanning the flames of fear and divorcing themselves of all responsibility for doing so, not helping..

TD yeah I've been really angry lately grr but now I think I'm entering the depression phase. America, you're such a bitch now! What happened to u baby? I still luv u baby *sniff sniff* or is it just ur memory, I don't know u nemore.

I'm going to spend a few months working on music, if the shit hits the fan soon I'll be glad I did while I had the chance, seems like pretty much a lost cause to start a job hunt now.