What else can you buy with hundreds of billions of dollars?
by tdaxp ~ September 27th, 2008
As George Bush and Nancy Pelosi try to rush through a bail-out of speculators, the cost of their plan is best understood as the cost of what else we could buy with it.
For instance, why not transcontinental maglev networks?
Thomas P.M. Barnett :: Weblog
Cost estimated for mag-lev network in manner of interstate highway system? A mere 350 billion. Pocket change this week!
Or, for that matter, fiscal discipline?
The Bush-Pelosi plan is bad policy and must be defeated.
[1] http://www.tdaxp.com/archive/2 008/06/19/the-foreign-polic...
September 27th, 2008 at 11:36 am
Dan, you understand that this is a necessary bailout, and if it is not approved, the entire american economic system would fall into a negative feedback loop, creating a long lasting and painful recession.
Anyway, you’re getting paid back (as a tax payer) because it is looked at as an investment not a burden.
Its a sad necessity that has come to be due to republican deregulation of the financial markets.
September 27th, 2008 at 12:55 pm
and if it is not approved, the entire american economic system would fall into a negative feedback loop, creating a long lasting and painful recession.
Even if true (same above), the only way this can be avoided is by bailing out speculators?
How much? What is the net return ratio? Will it be less than 1.0?
What would be the return of, say, spending 700 billion on cancer research? Or alternative energy? Or for that matter, one interstate maglev train network and a large dollar-bill bonfire?
Not sure what you’re talking about. If you can present a casual chain, I’d be interested.
It strikes me that the bipartisan attempt to move people with low credit scores — which meant the poor, the black, and the hispanic — into homes was one of greater regulation than the alternative, but maybe I’m misreading things.
September 27th, 2008 at 5:12 pm
That mag lev project sounds great. The expense would be an investment that would create both short term and long term employment at every skill level from engineer to day laborer. The cost would probably be returned many times in improved productivity and GDP growth and a decent train system would decrease demand for oil and therefor weaken petro-thugocracies in Central Asia and the Gulf.
I hope one of the presidential candidates sits down with some of the same people Tom talks to.
September 27th, 2008 at 6:35 pm
the banks control or money, if the banks fail, our money is gone. FDIC insurance won’t help because they would just print more bills and weaken the dollar, which is why those banks are being given money (in loan format)
September 27th, 2008 at 6:35 pm
ATB is buying the Democratic talking points.
I respectfully submit for evidence exhibits A & B that are directly contrary to ATBs position:
http://www.youtube.com/watch?v=_MGT_cSi7Rs
http://www.youtube.com/watch?v=H5tZc8oH–o
It appears that the only folks who wanted to regulate the GSE-monsters that created this subprime mess are congressional Republicans and the Bush administration. Congressional Democrats got in the way.
September 28th, 2008 at 4:13 am
Brent,
As long as it’s not about the need to transfer as much wealth as possible to the Arab countries, to bail them out for their demographic boom through an oil tax, or about the need to turn Europe’s downstream energy infrastructure over to Russia, or… (!)
But seriously,yes, a lot of cool stuff can be purchased with $700 billion.
ATB,
It would be more helpful if you would create a logical argument, rather than stinging together talking points. Your comments on the FDIC are incoherent, and I’m not sure what is left of your comment after they are removed.
Smitten Eagle,
Good videos, especially the first.
I wish there would be one combining the work of the Congressional Democrats and President Bush. While they disagreed here and there, they were pushing record levels of home ownership among the irresponsible together, and for too long.
September 28th, 2008 at 5:15 am
tdaxp-
Seerov does post some good stuff here.
I think SE is pretty good, too!
SE
September 28th, 2008 at 5:46 am
I have no idea what you are talking about, either
September 28th, 2008 at 7:02 am
touche’