House Rejects Bail Out

[ShannonMcCatholic]

There are times when a country must act for the good of its people even if the people do not understand and are not behind the action. I am afraid we are at such a time.
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Oh--I absolutely agree-and I think that was definitely the Founders' intent in creating representational government. I also agree that pumping in money in a significant way to free up credit as well as perception throughout the world in regards to the stability of our economy is an essential measure. What personally annoys me about all of this is the way the Bush Adminstration has handled it all--I think it would have been better to take the leaders of COngress aside, sit down privately and hash out the details of a plan--and then go public with the ADministration and top members from both parties saying together-"This is what we need to do, and this is when we need to do it."....I do understand that time is of the essence here, and that there can be no quagmire if we are going to avoid very big and far reaching (even more than they have been up 'til now)--however, with something of such enormity it seems like it's in the best interest of everyone to take some time to deliberate the very best course of action. And as you and MikeK both said-to then present an absolutely unified front.

As it is- the Congress blew it by failing to act when it was expected they would act.

My point was not that the people had a say in what leaders deemed best in a moment of crisis- but rather that it seems like it would be in the interest of the people (and the leadership) to take the time to educate the public what the crisis actually entails, and why they are acting thus. I don't have any political experience, but my experience parenting and teaching and leading teachers dictates that when I must make an unpopular decision, that it is easier for those who will be most impacted by the decision to get on board if they understand why that decision is being made. I still have the authority and the responsibility to make the right decisions whether or not others under my authority like them-but in the long run, if they feel like they understand the decision the whole process seems to go much more smoothly in the long run. (And obviously again, as a parent I do understand that the teachable moment isn't always in the midst of a crisis-and then when things are critical I just have to act and then explain later as time allows).

I know I'm rambling--but I just so wholeheartedly believe that knowledge is power, and that if some effort is made to bring greater understanding to the people that at the very least, perhpas they will be empowered somewhat in changing the future of our economy.

 

[ShannonMcCatholic]

First of all Paulson should resign,
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Oh gosh, I don't think so..I think that, at this pont, that would send the market plummeting even further.

 

[colleen]

Even if this is the best solution I want someone to explain to me why the heck they don't spend that money to pay off the loans instead of paying off the companies that made the decisions to give them out. Either way the company gets the money back. I know the general concept is that the loans will get paid back is we pass the bail out, but I don't think changing the loans is going to change the basic fact that many Americans have debt they can't afford to pay. And, I'm afraid the legacy of changing these loans is going to be the 50 year morgatages that California is known for. It didn't result in houses that people could afford. Instead, the high prices stuck around, and most people there can't afford a house without a 50 year saddle of debt.

 

[PassthePeace1]

I think most people don't understand what is going on, and for congress to do what the people want in a situation like this can be very dangerous course to follow. People know what result they want, but they are not educated to know how to navigate the mine fields the world economy presents.

I think it is very, very foolish to follow the dictates of those who do not understand how this economic structure operates or how to get from point A to point Z as safely as possible. In fact, it is a recipe for disaster.

Oh I think those that are against the "bailout", understand very well what is going on....we asking the foxes to fix the holes in the fence of the hen house. Shoot the foxes then we can talk.

It's been over 20 years of government involvement that has got us to the point we are now.....which keeps the market from correcting itself properly, resulting in the bubble growing bigger.

Our standard of living now, is based on an over inflated economy and consumer borrowing and spending....it's an illusion.

 

[drpepper101]

Thanks for answering! Can I ask you what other kind of factors shape the prices of food? Obviously- demand has got to be part of it, right?? If gas goes back down to $3 we'd save, as a family, about $100 a month--that seems pretty significant on our little micro level--but you are saying that though the price of food has gone up in response to climbing fuel costs- the savings from those fuel costs, won't be passed back to consumers--right??

( I know you don't have a very high opinion of me--but I sure do appreciate you answering my questions )

On the most basic level it's the same sort of supply and demand issue, but within that it really depends on how much of our food supply is staying here. How much competion there is from foreign markets, weather cycle predictions, some products make seasonal runs. For example I'll buy some pumpkin futures in May when they're low and sale them in October when they make their run. New product releases strongly affect food commodity tradiing, it's really become just like trading in the stock market.
Then you have to factor in that even though oil is trading much lower gas prices only slowly reflect that. The seller wants to keep prices high as long as possible, so we won't see shipping price corrections in food prices for some time.

 

[ProCommunioneFacior]

Oh I think those that are against the "bailout", understand very well what is going on....we asking the foxes to fix the holes in the fence of the hen house. Shoot the foxes then we can talk.

It's been over 20 years of government involvement that has got us to the point we are now.....which keeps the market from correcting itself properly, resulting in the bubble growing bigger.

Our standard of living now, is based on an over inflated economy and consumer borrowing and spending....it's an illusion.

Exactamundo.

 

[ProCommunioneFacior]

Oh gosh, I don't think so..I think that, at this pont, that would send the market plummeting even further.

Point taken...then they should make him as impotent as possible until there's a little more stability.