Take your medicine

[cottonpicken]

http://www.financialsense.com/fsu/editorials/schiff/2008/1121.html

You can apply this logic/line of thinking to almost everthing.Including your own farm/business.

Now apply it to our current government,
75 billion of tax payers dollars to the banks?
How big is the federal budget?100 billion?
Our unfunded liabilities over a trillion?
Now our own car companies?
One thing is for sure if we dont flush our consumption economy down the toilet,we are up the creek without a paddle.

Kind of easy to understand how the island of saskatchewan is doing so well
when you apply the logic.

[Fransisco]

http://www.youtube.com/watch?v=aLq9B5_iFCo

[jensend]

whatever your political or economic philosophy these bailouts make no sense because as schiff says you're penalizing profitable companies to subsidize the failures.

[Fransisco]

What! Are you kidding? That is the essence of socialism. The lefts whole purpose in life is to bailout anybody and everybody at the expense of those who actually make a profit.

[TOM4CWB]

Fransisco,

SOUNDS EXACTLY LIKE WHAT THE CWB HAS DONE ON WHEAT PRICING... DURING ITS WORST CROSS TRANSFERS... FOR THE PAST 2 YEARS THROUGH PPO'S!

POOLERS GET OUR FAMILIES WHEAT MONEY.

[agstar77]

I agree the bailouts are not good and probably will fail , since the pit is so deep. But where you against the CAIS and other ag support programs , aren't those socialist? The free market system has run amuck under the Great Greenspan. Without rules the game is never fair. This whole mess is due to individual and collective greed that went unchecked.

[Fransisco]

No the whole mess is the result of 'need' not greed. What motivator do you think drove the affordable housing debacle forcing banks to give loans to people who couldn't pay them back. This is not because of self interest, responsible people are continually being forced to sacrifice to the needs of others. The same thing is being done again for the auto industry.

The rules as they are now do not ensure that the game is fair, the rules punish the good and reward the bad. The moral hazard continues to grow along with the total amount of all the bailouts.

Lets recap a bit:

$29 billion for Bear Stearns

$143.8 billion for AIG (thus far, it keeps growing)

$100 billion for Fannie Mae

$100 billion for Freddie Mac

$700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroup, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more

$25 billion for The Big Three in Detroit (and growing)

$8 billion for IndyMac

$150 billion stimulus package (from January)

$50 billion for money market funds

$138 billion for Lehman Bros. (post bankruptcy) through JP Morgan

$620 billion for general currency swaps from the Fed

Rough total: $2,063,800,000,000

That's a little over $6,800 for every man, woman, and child, or just under $15,000 for each of America's 140 million taxpayers.

The government is trying to outlaw an important part of the free market with all of this. The free market is naturally self correcting, and the self correcting mechanism is called failure. If you do something stupid you pay a price, you learn, and you move on. The government is trying to outlaw failure and in the process is making the failure's bigger and bigger.

[wedino]

Why don't the auto industry go to the big oil companies for the $250 billion? It should be easy for the oil companies to come up with the cash considering the huge profits they made in the past year.

[cottonpicken]

http://www.europac.net/Schiff-Bloomberg-11-21-08_lg.asp

[Fransisco]

Yup, just ignore the $29 more per hour that the big three union boys are making over the competition. That can't be part of the problem.
http://mjperry.blogspot.com/2008/11/bailout-ultimate-in-lemon-socialism.html

And while they're at it they need to make sure they ignore the government imposed 'CAFE' regulations which force the big three to produce, with high-cost labor, millions of small cars designed to lose money.

http://mjperry.blogspot.com/2008/09/cafe-most-perverse-product-regulation.html

Take your Que from agstar, blame the market not yourself or the government for your problems. Then don't ask, <bold>DEMAND,</bold> that the taxpayers bail you out.

[Fransisco]

http://www.youtube.com/watch?v=JnX-D4kkPOQ

[Fransisco]

Came across this, this morning. For all of you who continue to parrot the deregulation myth.

http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/11/19/the_blame_for_bloated_economy/?page=full

"Like the alligators lurking in New York City sewers, Bush's massive regulatory rollback is mostly urban legend. Far from throwing out the rulebook, the administration has expanded it: Since Bush became president, the Federal Register - the government's annual compendium of proposed and finalized regulations - has run to more than 74,000 pages every year but one. During the Clinton years, by contrast, the Federal Register reached that length just once.

Similarly, the administration has broken every previous record for regulatory agency spending. According to researchers at Washington University and George Mason University, appropriations for federal regulatory functions have shot up during the Bush years. Adjusting for inflation, the regulatory budget has grown from $25 billion in fiscal year 2000 to an estimated $43 billion in FY 2009 - a 70 percent increase. "In constant dollars," writes James Freeman in the Wall Street Journal, "the Bush regulatory budget increases vastly exceed those of predecessors Clinton, Bush, Reagan, Carter, Nixon, and, yes, Lyndon Johnson." Staffing has skyrocketed, too. Regulatory agencies employed 175,000 people in 2000. They employ nearly 264,000 today. (Some of that reflects the Transportation Security Administration's takeover of airport security screening in 2003.)

Amid the stress and storm of the financial crisis, "deregulation" makes a convenient villain. But the facts say otherwise: The nation's regulatory burden has grown heavier, not lighter, since Bush entered the White House. Too little government didn't make the economy sick. Too much government isn't going to make it better."

If you want to blame Bush, fine, but blame him for the right things, blame him for adding to the regulatory problem.

[agstar77]

So you are saying the Dems were more free market than the Reps? Strange that the U.S. went into deep operating deficit when Bush took over.

[Burbert]

Blame Bush! I think not, great leader, or the greatest leader of all time. Cowboy justice on the open range. In charge, the decider, great warrior, not afraid to send others to their death. Law an order kinda guy, executing the challenged underaged. Constitution, constipation do whats right to hell with the rest, putcha in Gitmo or Aboograb if ya don't smarten up, no rights no lefts. Tappin yer phones too, chekin on busness. Keep the pops and moms of Amerika terrified, the bogey man will getcha, if I/We the crazies don't protectya. We're gonna ride out and smoke'm out. War/snore, money to be made by all, the unfettured free market, can take care of itself, or can't, who cares this is Amerika land of oppurtunists. Bailouts, smaillout, just print more money, learned that from Mogobbie in the country of Afrika. Don't stop spending, we're all in the same canu, except for me cause my daddy is rich, rich, rich, and my friend is a Dick. Probably end up on the board of dictators at Halibutton after bein Presedent. Gotta get back to crawford and git the crop in. Good ole boys say there money in farmin these days. Bye Bye W, Free, free at last!

[cottonpicken]

http://216.157.72.247/wp-content/uploads/2008/11/obamajes.jpg

I just puked in my mouth.

At least i stand to benefit from hyper inflation unlike 99% of people.