You realize he's supporting the Republicans on that issue right?
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And Republicans are against this bailout, at least I would think true, free market republicans are, not the "Only when it helps me" republicans.
I honestly don't know where I stand with the Bailout, what Drew says is a very serious part of it, but that doesn't mean it won't work. Either way there would be a position of "Well what if we had..." instead if this doesn't work. And for all we know it would have failed anyways.
I think that may be the case. Yeah, we don't sink as fast, but we're still getting there. I also understand the complicated dynamics and domino effect that could happen from letting certain institutions fail, do we solve it by further complicating the ties between all those places? When the government throws money at this and absorbs bad businesses, bad investments, and buffers bad decision making, it now becomes ALL of our problems. We all basically own bad debt that none of us had a say in making.
A "let them fail" solution is harsh, but so is the prospect of generating the highest volume of debt ever for the US on what are toxic assets, and to what end? So people can keep jobs, so other institutions won't die in the windfall? Is that really worth putting such a high burden on every single citizen, regardless of whether or not they were part of the problem to begin with?
If I was an expert (an economist, not an elected official) maybe I could provide even more possible solutions. I hope more come too, but if they come from people like politicians with no experience in running business or economics, then we're in for a really bad and bumpy ride.
Yoshi really lives in his own little world.
I haven't listened to Rush since the Clinton administration, but keep trying. When you'd like to join me in reality, feel free.