House Defeats Bailout Package

[Charnock]

Originally Posted by Ferd

As my grandpappy would say, now the cheese has gotten more binding!

Originally Posted by Charnock

So Ferd...for months you have been laughing at anyone who claimed a recession, and maybe even a depression, was coming.

Do you wish to adjust your opinion now?

Bumped for Ferd.

[Ron]

Originally Posted by Sam

I think both of those happened before the bailout vote today, maybe happened over the weekend?

Yes it did happen on the weekend.

Just another indicator that this problem is bigger than the US!

[TRFrance]

Originally Posted by Daniel Alicea

DOW PLUNGES 700 Points!!!

Make that 777.68

[Charnock]

Ferd, again, do you believe we will experience a recession or depression? Or is that simply laughable, in your view?

[Ferd]

Originally Posted by Charnock

So Ferd...for months you have been laughing at anyone who claimed a recession, and maybe even a depression, was coming.

Do you wish to adjust your opinion now?

Nope. a few weeks ago we had a discussion about this and I said then that while I am not ready to panic, things didnt look very good....


D4T and I just talked about that meal he is going to buy me in about 1 3/4 years. (he said if the economy was good in 2 years he would buy me dinner.)


AND I never laughe at the idea of a recession, I did poo poo those saying we were on the verge of complete collapse, Great Depression, famine etc.

We have recessions every once in a while when the market needs to reset. that happens. some are a bit more hard than others.

but generally speaking we are clear in 18 months or so and things are better than they were before.

What I have said about the current situation is that we have not actually hit what would qualify as a resession yet (that would be 2 consecutive quarters of negative growth).

I suspect we will find ourselves in one pretty soon. But I am not willing toss my hands in the air and run find a soup line just yet.

It could happen. or what could happen is things get bad for a couple of months as this thing unwinds then businesses will reset, revaluate and start on the road to recovery.

we will loose jobs (maybe even mine), things will get tight, but in the end, things will turn around.

and I think that will happen before we hit 50% unemployment, house values dropping by 50% or more etc etc.

[MikeinAR]

I was glad to find out that my Congressman, R-John Boozman, voted for the plan. I called ready to vent my frustration to his staff and was suprised when the woman told me he voted for it. She said he felt it was necessary to stabalize the economy before the effects reached Main street.


I don't always agree with him, but he's a very decent man and I think he made the right decision today.

[Ferd]

Originally Posted by MikeinAR

I was glad to find out that my Congressman, R-John Boozman, voted for the plan. I called ready to vent my frustration to his staff and was suprised when the woman told me he voted for it. She said he felt it was necessary to stabalize the economy before the effects reached Main street.


I don't always agree with him, but he's a very decent man and I think he made the right decision today.

Once more with feeling....


that aint very "BOB BARR" of you my friend...

[MikeinAR]

Originally Posted by Ferd

Once more with feeling....


that aint very "BOB BARR" of you my friend...

I'm certain that Bob Barr doesn't support the plan. I realize, unlike some the partisan hacks on capital hill, that at times a person should do what's right for the country instead of putting the party or candidate first.

[Ferd]

Originally Posted by MikeinAR

I'm certain that Bob Barr doesn't support the plan. I realize, unlike some the partisan hacks on capital hill, that at times a person should do what's right for the country instead of putting the party or candidate first.

derrr? im confused?

You are voting for Bob Barr, the ultimate "let the market correct itself" guy, but you want this voted for....

This bill was shot down by a by-partisian group of Rs and Ds so Im not really sure what your talking about?


my congressman is Pete Sessions he said the risk of not voting for this was that the Dems might then pass their own version that would be really really bad.... (I dont know for sure how he voted I havent looked yet)

I will tell you that I just dont know what to make of this. if it is good or bad or if doing it would be just as bad.

I just hope when I come to work in the morning that my building is still here.

[rgcraig]

Your building might be there, but the doors might be locked!