- This topic has 42 replies, 11 voices, and was last updated 17 years, 4 months ago by
bsrsharma.
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August 23, 2007 at 1:26 PM #80041August 23, 2007 at 1:57 PM #79906
cr
ParticipantUnbelievable. I think people like this just want something else to criticize Bush for. If he does bail out, and I don’t think he will, he’ll be criticized for furthering our debt.
Adding liquidity in the form of debt is only going to worsen the problem, and temporarily allow people to borrow more, cash out and survive a little longer until they can’t pay again.
Comments like this guy’s are worse than communism. Where’s McCarthy when you need him. At least socialism is noble enough to take from the rich and give to the poor.
Leave it up to these idiots and we’ll take from smart and give to the dumb.
August 23, 2007 at 1:57 PM #80034ParticipantUnbelievable. I think people like this just want something else to criticize Bush for. If he does bail out, and I don’t think he will, he’ll be criticized for furthering our debt.
Adding liquidity in the form of debt is only going to worsen the problem, and temporarily allow people to borrow more, cash out and survive a little longer until they can’t pay again.
Comments like this guy’s are worse than communism. Where’s McCarthy when you need him. At least socialism is noble enough to take from the rich and give to the poor.
Leave it up to these idiots and we’ll take from smart and give to the dumb.
August 23, 2007 at 1:57 PM #80055ParticipantUnbelievable. I think people like this just want something else to criticize Bush for. If he does bail out, and I don’t think he will, he’ll be criticized for furthering our debt.
Adding liquidity in the form of debt is only going to worsen the problem, and temporarily allow people to borrow more, cash out and survive a little longer until they can’t pay again.
Comments like this guy’s are worse than communism. Where’s McCarthy when you need him. At least socialism is noble enough to take from the rich and give to the poor.
Leave it up to these idiots and we’ll take from smart and give to the dumb.
August 23, 2007 at 2:17 PM #79942AK
ParticipantI’m with NSR.
My gut says the bond market is about to hand him is behind.
I have great respect for Bill Gross’ analysis and writings, but every now and then he’s just talking his book.
August 23, 2007 at 2:17 PM #80070ParticipantI’m with NSR.
My gut says the bond market is about to hand him is behind.
I have great respect for Bill Gross’ analysis and writings, but every now and then he’s just talking his book.
August 23, 2007 at 2:17 PM #80093ParticipantI’m with NSR.
My gut says the bond market is about to hand him is behind.
I have great respect for Bill Gross’ analysis and writings, but every now and then he’s just talking his book.
August 23, 2007 at 3:05 PM #79972SHILOH
ParticipantI don’t agree with a bailout, but the debate he proposes is comparing the financial, specifically mortgage industry to the manufacturing -car industry. This is where the problem starts. All the economic models and theories…do they distinguish between these markets and whether they function the same? Obviously they exist for different purposes. Maybe they are the same if it were truly free market. But not when interest rates are manipulated, etc. by the gov. I don’t have a lot of knowledge about economics,but from what I read about Greenspan and the theories these “economists” toss around, what they did with the mortgage industry in terms of selling them as securities, seems unethical because it was a certain kind of debt transfer, not an “investment” in a tangible product or service. So Gross is posing the question…why not bail them out like Chrysler? That bailout was a long time ago – and it seems like nothing was learned from it either.
August 23, 2007 at 3:05 PM #80100ParticipantI don’t agree with a bailout, but the debate he proposes is comparing the financial, specifically mortgage industry to the manufacturing -car industry. This is where the problem starts. All the economic models and theories…do they distinguish between these markets and whether they function the same? Obviously they exist for different purposes. Maybe they are the same if it were truly free market. But not when interest rates are manipulated, etc. by the gov. I don’t have a lot of knowledge about economics,but from what I read about Greenspan and the theories these “economists” toss around, what they did with the mortgage industry in terms of selling them as securities, seems unethical because it was a certain kind of debt transfer, not an “investment” in a tangible product or service. So Gross is posing the question…why not bail them out like Chrysler? That bailout was a long time ago – and it seems like nothing was learned from it either.
August 23, 2007 at 3:05 PM #80123ParticipantI don’t agree with a bailout, but the debate he proposes is comparing the financial, specifically mortgage industry to the manufacturing -car industry. This is where the problem starts. All the economic models and theories…do they distinguish between these markets and whether they function the same? Obviously they exist for different purposes. Maybe they are the same if it were truly free market. But not when interest rates are manipulated, etc. by the gov. I don’t have a lot of knowledge about economics,but from what I read about Greenspan and the theories these “economists” toss around, what they did with the mortgage industry in terms of selling them as securities, seems unethical because it was a certain kind of debt transfer, not an “investment” in a tangible product or service. So Gross is posing the question…why not bail them out like Chrysler? That bailout was a long time ago – and it seems like nothing was learned from it either.
August 23, 2007 at 3:25 PM #79981bsrsharma
Participantwhy not bail them out like Chrysler?
For a guy of his caliber, it should be obvious. In the case of Chrysler, the federal government, DIDN'T write a check. It provided a loan guarantee so that the bankers could loan Chrysler. Here he is advocating an outright welfare dole. Chrysler's case was like building Hoover dam. There is a definite place and method to erect a dam. The housing bust is like solving global warming. No body knows what is a good solution.
Side note: Yes, the feds "bailed out" Chrysler. But look where is it now. It is still a weakling that sucked Daimler dry and is going to suck Cerberus dry. Good things rarely happen in capitalism when rowing against the current of market forces.
August 23, 2007 at 3:25 PM #80109Participantwhy not bail them out like Chrysler?
For a guy of his caliber, it should be obvious. In the case of Chrysler, the federal government, DIDN'T write a check. It provided a loan guarantee so that the bankers could loan Chrysler. Here he is advocating an outright welfare dole. Chrysler's case was like building Hoover dam. There is a definite place and method to erect a dam. The housing bust is like solving global warming. No body knows what is a good solution.
Side note: Yes, the feds "bailed out" Chrysler. But look where is it now. It is still a weakling that sucked Daimler dry and is going to suck Cerberus dry. Good things rarely happen in capitalism when rowing against the current of market forces.
August 23, 2007 at 3:25 PM #80132Participantwhy not bail them out like Chrysler?
For a guy of his caliber, it should be obvious. In the case of Chrysler, the federal government, DIDN'T write a check. It provided a loan guarantee so that the bankers could loan Chrysler. Here he is advocating an outright welfare dole. Chrysler's case was like building Hoover dam. There is a definite place and method to erect a dam. The housing bust is like solving global warming. No body knows what is a good solution.
Side note: Yes, the feds "bailed out" Chrysler. But look where is it now. It is still a weakling that sucked Daimler dry and is going to suck Cerberus dry. Good things rarely happen in capitalism when rowing against the current of market forces.
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