Stickers & The Bailout

[luna_k]

Hey, I got about 15 people who wanted stickers, and I only had 8 to give away (I thought I'd had 6, but apparently I had more than I thought!) so I went ahead and mailed out stickers to the first 8 people who commented. Now, my friend said he had a fuckton of leftover stickers, so I'm gonna ask him if he can spare 7 more so all the people who

Comments

[ladyoneill]

If I believed in god I'd say he's pissed, what with the three sevens. Or maybe I'm just trying to mock the whole thing rather than worry that the country is sinking like the titanic.

No gas shortages here; in fact, prices have dropped seventy cents in the last two months. It's $3.25-3.29 a gallon here.

[sunbeamj]

I'm worried that the (second) article you linked points out that the Congresspeople listened to the angry concerns of their constituents rather than their party leaders because it's close to an election. Shouldn't they be listening to their constituents ALL the time?

Also, I think the stock market is just a game of psychology. Until someone tells me otherwise, I'm thinking the drop is like the investors' version of running to the bank to pull out their money. And what's the connection between the House rejecting the bill and the stocks dropping anyway? I can't think of an objective one.

It's all so confusing.

[xiaomi]

Well, the stock market fell because investors had been holding their breath hoping for a bailout because otherwise there's going to be more bank failures, and it will also affect the industrial sectors pretty badly too (if people can't get car loans, people won't buy new cars, that sort of thing). Banks are even scared to lend to strong businesses right now, which means that business activity is declining, which means that people are getting laid off, which will drive the unemployment rate up... it really is a downward spiral :(.

So, yes, to a certain extent, it is the equivalent of running to the bank to pull out their money, but their money was invested in the American economy, so it hurts basically everyone :(. I'm scared for my parents - they're not rich and their retirement accounts probably just went to hell.

[sunbeamj]

Still -- investors. Psychological. Not a measure of how many banks failed in a day, or something like that.

I know, the only people I feel are really not going to do well here are those retiring in a few years and watching their retirement accounts fall like crazy. Everything else I'm optimistic will pick back up in uh... 10 years at most.

Okay, maybe that's not optimism. But at least it's not forever.

[simons_flower]

I think the impression of how bad the Depression was to grow up during varies based upon what someone's socio-economic level and place of residence was to begin with. Those living in the major urban areas had a very different impression than those on farms. Therefore, it would be a much greater impact on more people now, I think, because a larger percentage of the population lives in urban areas now.

Regarding the gas shortages: apparently there is a special formulation of gas that is sold in the Atlanta area and when Ike came through, it disrupted the production of that gasoline, leading to shortages. There are also shortages in other places in the South, such as North Carolina, because Ike caused problems with the (either major or only) pipeline feeding the area.

[xiaomi]

The bailout thing is so frustrating... I'm of the opinion that we need to do something, although I hope the bill's failure means that the Democrats try to get a party-line vote that includes protections for workers and homeowners, rather than the GOP's insurance sham - that "insurance" plan would basically involve an outlay of federal money with no chance of recouping our investment

[bloodypoetry]

It really hit home when they said that the 700 billion could pay for everyone's health care for 6 years. As someone who is swamped in backdue turned over to credit medical bills, it makes me angry.

So, from what I am understanding, the government will be using the 700 billion in taxpayer money to buy out all the 'bad' or 'toxic' loans that are killing this billion dollar companies.

So, since we are paying for them, why doesn't that make every home loan automatically have a 'paid' stamp put on it?

[thisficklemob]

Or hey, how 'bout money to feed the hungry. $700 billion could buy a lot of pasta and peanut butter.

Unfortunately, hungry people don't give millions to politicians. Can't imagine why.

[bloodypoetry]

Yeah, wouldn't that be nice?

I am just...Arg. The news keeps talking about the 'average' American being invested in the stock market, or owning a home...What about those that don't? I rent. Doubt I'll ever own a home. And the stock market? Do normal, everyday people really buy stock all the time? I highly doubt it.

Of course us lower middle class (or poverty level) folk don't matter much to them there big guys up in Washington, cause we're all dumb and don't got them internets they talk about.

[pitbullgirl65]

This shit pisses me off. Didn't the deregulation start with Reagen? I think it's a basic human right to have decent housing,food and medical care(including mental health). But in America, you have to pull yourself up by your bootstraps even if you don't have boots. :(