Go, Economy!

[burgundy]

I'm pretty sure that no one has any clue what will happen either way.

i'm pretty sure 95% of people that i think know their shit says we really need some federal response here

on the other hand some people on TNL say this is no big deal

your call

[Othello Harrington]

We need an big federal investment, not a nanny.

[burgundy]

i could use a nanny right now ifyouknowwhatimean

[Gooch]

Every time something positive happens in the economy, like interest rates being lowered, oil automatically and artificially goes up. It's a crooked oligopoly, not supply and demand.

No, it's called a devalued dollar. You lower the interest rates here but the foreign central banks don't concurrently lower then the dollar takes a hit. Oil being mainly denominated in US dollars then rises in price in response since it will now take more dollars to buy the same amount of oil.

[Othello Harrington]

Profound burg!TryRich'smom

[Frogacuda]

There's no sense in being so condescending. Admittedly, I have no idea whether the proposed bailout would help at all. I'm pretty sure that no one has any clue what will happen either way. The global economy is a rapidly expanding set of interdependencies that no one person can wrap their head around. I do not have a lot of faith in laissez faire capitalism though, and I'm very surprised to see people touting its virtues in the midst of this crisis.

Sorry, I didn't mean to be condescending, I'm not an expert either, I just think the media is being opportunistic and inspiring fear for ratings, and my contempt for that bled through.

What I'm touting isn't laissez faire, though. I'm just saying you have to draw a line between capitalism and nationalization at a certain point. There's a risk, and I think removing that risk makes the kind of poor decision making demonstrated here seem perfectly acceptable. Also, as I said, flooding too much capital onto the market that we don't have could crash the dollar.

[Othello Harrington]

No, it's called a devalued dollar. You lower the interest rates here but the foreign central banks don't concurrently lower then the dollar takes a hit. Oil being mainly denominated in US dollars then rises in price in response since it will now take more dollars to buy the same amount of oil.

You and I both know if we don't pass this bill, oil will continue to plummet and destroy Russia's already fragile economy. Funny thing is they are the ones stirring it up, karma is a bitch I guess...meh

BTW Gooch

Who's currency isn't down right now?

[Frogacuda]

We need an big federal investment, not a nanny.

So explain to me exactly why regulation that would have prevented this would have somehow been worse than what we're facing?

[Gooch]

Yeah, Putin's power has rested on the price of oil. That's what has emboldened Russia over the recent years.

[Othello Harrington]

The time for regulation is far passed, now is time to invest in our own economy. Since Americans aren't smart enough to stay out of Walmart, we'll have to have da gubment call investment shots for a few years. It is, what they say, what it is.