The American stimulus package

[Netto Azure]

I just watched the last half of that on PBS tonight, and I have to say that it makes a lot of good points. There had to be some intervention by the government this time because our banks would have failed explosively if they hadn't. Then we'd all be in an even worse mess. Because so many other countries' economies rely upon ours, it's our job to ensure that we dont let them down too.

Thanks...
The whole episode: https://www.pbs.org/wgbh/pages/frontline/meltdown/view/

IT's quite a descriptive documentary. I'm recording it. ^_^

Oh...Well I agree with you guys somewhat...I'll explain tomorrow?

 

[Agent Cobalt]

Your neutral views of the issues is applaudable, but it's not wrong to look at things through your own moral standpoints as well. You have to realize that despite the wisdom of the founding fathers of this country, that there are things they probably didn't expect to happen.

But I do refer to my morals. Law is a part my morals, the social contract agreed to by the people and states known as the Constitution fits in that category. And the Founding Fathers themselves DID understand that things and problems would arise that they couldn't foresee. That's why they included in the Constitution a system in which the Constitution could be changed with majorities of the Congress and States approving; that's the amending process. In fact the problem of slavery was one of the things they hoped would be resolved over time by the force of the law; and it was with the passing of the 13th Amendment.

I have no problem with helping others; I've donated clothes and money to others and donated to groups that help the families of soldiers. I just wish that before we went on crusades telling tax payers that they're going to have to subsidize the lives of others that they'd at least be consented first and that people approached things from a legal aspect from time to time rather than just outbursts of "I want this" or "We should get that for free." It's what Founders referred to as Mobocracy, where people think they can just want something and get it by voting for it. It creates a society of dependency in my view.

 

[Melody]

I agree that there should be something to stop people from being dependent on the government in that way. It's the selfish wishful thinking which gets a lot of us into some rather sticky messes. Especially when many share the same selfish wish. Now I'm not saying that it's bad to want life to be easier for you and everyone else, but people should think about the long term impact of these wishes before wasting their vote to make it come true.

 

[UltimaLink007]

My AP Government class gets the teacher off-topic all the time so we just talk about this sometimes for the entire class. Below, I put a link to an amazing segment of 60 minutes we saw in class, which was extremely unbiased and showed some really great facts about how we got into what we're in now.

https://www.cbsnews.com/stories/2008/10/05/60minutes/main4502454.shtml

 

[Raven-NAR-32450]

Originally Posted by https://zazie-lavender.livejournal.com/
My solution to the crisis would be very simple. Nullify all interest on ALL HOUSING, CAR AND BUSINESS LOANS, and reset the loan interest rate to 15%, and then tell everyone to get to working to pay off their bills. Now I know that some of you would say that's not exactly a capitalist approach, and all but at this point I really think it doesn't matter. Someone has to fix the problem. And we have to put a cap on the interest rate for ALL LOANS AND CREDIT CARDS, and enforce it STRICTLY! I think a cap of 20% would be fair.

Why? Someone has to make sure that people aren't being taken advantage of.

Another thing that bugs me is how the banks like to advertise at people who DO care about their credit and AREN'T up to their necks in debt.
Seriously, they should stop doing that. I dont think banks should encourage anyone to lean on their credit, even if they do have good credit.

Yes this is what we SHOULD be doing, but no, unfortunately we are doing exactly the opposite, and the reason why we are doing the opposite is because those banks, yeah the ones in that quote right there, the people who are in charge if them feel that making sure that they themselves have the money to keep the things that they have, from the Bently that was hundreds of thousands of dollars, to the house in Beverly Hills, perfectly insured, and all nice and safe........while the people that they are slapping fees and interest payments on are slowly losing everything they hold dear.

 

[BeachBoy]

Two things: one, I'm gonna be sad to see Crysler go... oh wait, wrong topic. I mean, I really hope this bill works, but after reading some these posts, I don't know what to believe. Stuck in the middle, I suppose. I want the package to succeed! Why? Well, I don't want to have a terrible time and depression during my college years. It's signed, so I just hope it works; even though there's a chance (or maybe large chance) that it doesn't. And then we're in a bind both short and long-term. It's gonna be a bumpy ride. D:

And I kinda dislike how just this package will decide the entire success or failure of Obama, or so I've heard and what it seems like. For a president that inherited so many issues, I really think a lot of you see Obama as the guy that caused all this mess, when he didn't. Although I can see how some of you are mad at him because it could get us in deeper water. Don't come barking back at me, that's not what I came here for, I'm just here to throw what's swirling around my head at the current moment because I can't sleep. XD

Also, a warning: to those of you who are bypassing the censors, stop. I'm rather sick of reading posts that try to hint the curse word or put one asterisk to try and get by our censor. I know I read at least two last page. If you want to get that emotional and use language that isn't allowed on this forum of all ages, you're better off just not saying it. (You'll only end up getting infractions!) So yeah, carry on~

 

[Virtual Chatot]

...while the people that they are slapping fees and interest payments on are slowly losing everything they hold dear.

Because the people could not afford them in the first place...?

A bit of history for everyone, as we may be doomed to repeat it. One of the main reasons for the Great Depression was that everyone didn't actually own what they were buying. Buying products on credit became popular during this time, so people were buying things that they couldn't afford, from cars to stock. As the initial "drop" in the Stock market started to fall, people began to lose their jobs. Now, when time came around to actually pay these things back, they couldn't, and lost everything.

Now, replace stock with homes, and mix in some irresponsibility with your money, and you have exactly what's happening today :/

Now, what the current administration seems to be doing, is acting like an irresponsible person with a credit card. Yes, going out to eat at a restaurant and buying that new dress may seem like a good idea at the time, but then you have to pay it back. It'll make life good for a little while, but then it just gets worse.

 

[Corvus of the Black Night]

I totally agree.

Another point that should be brought up is that the New Deal was NOT what took the country out of the depression, it was entering WWII that really spurred up economic activity because of the need for war materials. When the war ended, people kept the jobs, thus an economic boom began.

Which is why I disagree with Obama. Even though I'm more socialist than most of you (hides to avoid flaming from Cobalt), I realize that this isn't what's going to bring us out of this recession.

However, I think that by keeping at least GM alive that we will at least be able to survive. If GM falls, the entire country is going to fall.

 

[Virtual Chatot]

Another point that should be brought up is that the New Deal was NOT what took the country out of the depression, it was entering WWII that really spurred up economic activity because of the need for war materials. When the war ended, people kept the jobs, thus an economic boom began.

True, but its not like we can do that now. We have enough resources and people where we don't need the nations industries ( like we have many now anyways... ) will turn from making dresses and shoes to uniforms and combat boots. :P

 

[Netto Azure]

Heh...

Everyone on the right loves making fun of the President now eh?

While I agree that the New Deal didn't end the Depression, it essentially gave us so many of the infrastructure and regulatory backstops that saved the economy today, such as the FDIC and Social Security.

Canadians lurve President Obama. XD

Exporting Obama
US president seeks to woo Canadians on first foreign trip

Obama makes first foreign visit

Barack Obama is in the Canadian capital Ottawa on his first foreign trip as president, for talks with Conservative Prime Minister Stephen Harper.
Trade, the global economy and the war in Afghanistan are the main issues to be discussed during the six-hour visit.
As America's biggest trade partner, Canada is worried about the "Buy American" measures in the $787bn (£546m) stimulus plan.
Canadian troops are due to pull out of the Nato force in Afghanistan in 2011.

 

[Virtual Chatot]

Everyone on the right loves making fun of the President now eh?

Now? I'd thought we had been doing it for quite a while :P
I guess everyone on the left forgot that people on the left made fun of Bush all the time, but whatever.

:P

 

[Netto Azure]

Now? I'd thought we had been doing it for quite a while :P
I guess everyone on the left forgot that people on the left made fun of Bush all the time, but whatever.

:P

LOL, His administration was fun, very much fun, =D

Now people on the left are going crazy because of the New Prez. High Standards that are impossible to achieve. XD

​

 

[InMooseWeTrust]

If anyone knows anything about history, it's that stimulus packages never work. The goal is to spend the money, right? The people who get the money usually don't need it, so they do things like give their CEO's golden parachutes while the company crumbles. Meanwhile, the people who DO need the money (families with small children and small businesses) use the money to pay off debt or they save it to replace their retirement funds or whatever. That's a GOOD thing, but handing out all this money causes massive inflation.

 

[Netto Azure]

Ok first of all. This stimulus package isn't like Bush's $150 Billion+ Economic Stimulus Act of 2008 which basically gave everyone checks to use.

It's actually Broad-Based and a long-term plan for reconstruction and other initiatives. Yeah, I do agree that this package is basically the Dems releasing pent up spending urges that's been building up for 12 years. XD

Anyways did you know US President Obama is going to make an unoffical State of the Union address on a Joint-Session of the US Congress on Tuesday February 24, 2009 around primetime?