After watching a few of these clips from earlier this year, I'm willing to do whatever Schiff says.
http://www.youtube.com/watch?v=drJ6QxSO5gw&feature=related
Tuesday, September 30, 2008
I Think I've Found My Opinion on the Bail Out
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11 comments:
That totally confused me. I need to watch it with someone who understands. People who have enough money to invest should invest in foreign commodities. What about those who don't have any money to invest and are losing jobs? What's his advice for them? Find another clip with that answer since I'm too lazy to. :)
Molly, I think the advice for those who can't invest is the same advice for those who can invest: get rid of debt, quite spending on luxury items, save for a rainy day, learn to live within your means. In many ways I think a little national humility brought about by financial distress could be a good thing.
http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487
...& I'm a Democrat!
so tyler are you buying ashley lots of gold jewlery. sounds like a good investment! :)
So true, Tyler. The only problem is that all those people who were already living by those guidelines could get screwed, too. Very sad.
Tyler, I have to say I found the link from sleepy blue very intriguing. I had to ask a democrat their opinion. sooo... to play devils advocate and spark some conversation here is part of the epistle I received. Well, there is some truth that is sewn into fiction. John McCain has been at the spear's tip in Congress pushing for deregulation laws. This is what has freed up these huge (way too huge) corporations to be able to give people these subprime mortgages. It certainly is not a results of the democrats passing affordable housing laws. Those laws did not say that giant mega corporations can loan money to people who can not prove income, and ultimately can not afford them. To think that republicans are pushing for regulation is a laughable claim! That is one of the biggest issues that separates the parties. Reps are completely anti-regulation and say that 'the market will take care of things'. Now that that philosophy has failed and we need to use tax dollars and money borrowed from China to save the economy from depression the Reps are saying, oh, ok, let's dip into the public to bail us out. One of McCain's top aids was receiving payments from Fannie Mae through August! McCain insider being paid to lobby in all of the disaster. Hmm. WOW! So Obama has an aid who lives in a multimillion dollar home. Do you know any Washington insiders that don't?
Sheryl, I wasn't a big fan of sleepyblue's video either. It's way more about party politics than it is about cold hard facts. I'm skeptical about anything that is so obviously political in nature. And to be perfectly honest, I hate the idea of the bailout, but I'm not enough of an economist (or idealist) to swear that we'd be better off without it.
I was pretty tired when I posted that video and too lazy to add a disclaimer to my comment. It was an impulsive post based on my emotional reaction of what has occurred, so I apologize for that and tarting your blog up with such material. Aside from the super-sensationalism from the video, what it represented to me is that everyone is accountable for our current situation. Everything else I have read blames Repubs and this video "balances" the finger pointing in its own weird way (for me). I get angry at both sides of govt for enacting short-sighted legislation and business for taking advantage of flexibility. Business proved it could not self-impose ethics during the internet boom (Enron, Worldcom) so why would it during the housing boom? Why can't this country have a boom unriddled with dishonesty? This article (I'm sure you have all read) http://www.cnn.com/2008/POLITICS/09/24/beck.bailout/index.html?iref=newssearch is very interesting. I remember reading the article referenced in February. While it scared me at the time, I did not know whether it was possible because I only have my semester-long high school economics class to refer to. But shouldn't our business leaders and elected officials have had more previous insight to what was occurring if this guy and Peter S. did? And if they did know (which I am sure of) why wasn't anything done? I love America, but we just seem to be such a reactive country that gets caught-up in finger-pointing and I would like for us to be accountable and proactive once in a while. Not that I have any answers... =) As for my opinion on a bailout, I think I like this suggestion: http://www.nytimes.com/2008/09/28/opinion/28friedman.html?em.
BTW - I really enjoy being part of your readership, so I hope you don't mind my occassional "letters to the editor" (if you do I will stop). I am a lifelong Democrat and I love reading the opinions from those on the "other" side because it forces me to think of my standpoints on a deeper level than simple ideology and rhetoric. Thanks.
Sleepyblue, thanks for coming back. My comment on the video was only due to the fact that it was so clearly one-sided. Things are rarely ever one sided and I get frustrated when people/videos/ads distort the facts to prove a point. I enjoy your perspective, keep it coming.
Tyler--You're the best thing that has happened to my family in a long time :-). Thanks for taking care of Ashley and the boys and seminary last night. You are so awesome. Ashley is a lucky woman.
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