24 September 2008

The financial meltdown/bailout thing

The reasons I haven't posted anything about this are:

(1) The subject bores me;

(2) I don't know enough about it to give an opinion informed enough to be worth anyone's reading time;

(3) I'm convinced the seriousness of such events is vastly inflated by media hype. I've lost track of how many times the world has come to an end due to some financial crisis or other in the last ten years alone.

4 Comments:

Blogger Ranch Chimp said...

My intentions are not to bore you here guy..but I would just like to comment that...sure there are always doom and gloom things popping up here and there and hyped by the media.But actually nothing of this magnitude or importance not just in the last 10 years...but since the great depression..and never on this level...what is going on here is a last ditch attempt by this administration to lock a huge deal for future financial firms dealings.The unique "thing" about this...is this will actually impact every exchange in the globe. But no...its never doom and gloom..but I personally love the chaos on the Hill,especially during an election.I know that if it did not go through,yes...it would heavily effect the markets,even domestically,and of coarse many Americans...either way you go it will cost us,so why not take em down somewhat with us. A deal will be reached eventually.But there is also a flip side to this that is positive that folks are not looking at,a failure in the markets can also make small Americans a bundle of money..and these bastards know it.The only thing it damages the most is this massive new global way of doing things..it benefits the peoples none..and this bailout to many including myself is no more then welfare or financial socialism.Let me present one example of why it would NOT be doom and gloom..Warren Buffett just threw $5 billion dollars on Goldman Sachs thru his "Berkshire Hathaway" heh,heh,heh...you see...even if it didnt get approved(bailout)folks like Buffett...many are going to buy up what they can at dirt cheap prices who have cash to invest...and we have alot of those in America! Whats the pay-off? In return he gets a 10% dividend yield on his preferred stocks! Heh,heh,heh BINGO!...I know Bush and Cheney must hate it! I'll shut up now.

24 September, 2008 10:00  
Blogger Infidel753 said...

But actually nothing of this magnitude or importance not just in the last 10 years...but since the great depression..and never on this level

I really see no reason to believe this. During the dot-com crash we were told that trillions of dollars in wealth had "disappeared", and on paper that may have been true, but I don't recall anything much happening to the real economy (unemployment and inflation) beyond the level of normal ups and downs. Same with the house-price crash, which if anything actually works against inflation. To mention any of this stuff in the same breath as the Great Depression, when unemployment hit 30%.....I don't think so!

I see no chaos on the Hill. I see politicians engaged in the usual histrionics, amplified by the fact that this is happening so close to an election and they are all trying to turn public perception of things to their own advantage.

As I say, I'm no expert on this stuff. But I've heard it all before, many times, and I've learned not to get overly worried about it.

24 September, 2008 11:38  
Blogger Christy said...

It is boring.

And I hope I can still live beyond my means by having ready credit like I'm accustomed.

LOL

My little post was personal....like all my posts.....about growing up and being more responsible.

I think these "crises" are only helpful in that they make us want to be more sensible.

If you think about it, both McCain and Obama are US Senators and should have had their fingers on this pulse....

24 September, 2008 12:22  
Blogger Ranch Chimp said...

Well...enough said Mr.Infidel and Ms.Christy. I can certainly understand both of you...and others as well.And I agree.

25 September, 2008 08:10  

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