Bailout of Europe - $1 Trillion US dollars sent today

[cotullaguy]

No hearings, no debate, no nothing.  We are on the line for it as a country.

http://www.foxnews.com/world/2010/05/10/federal-reserve-opens-credit-line-europe/

 

[SHAGGY]

What's this? cotullaguy you just posted an article from FOX NEWS!!!! LOL (lol) (clapping) Just messing with ya man, yeah can you believe this, there was all kinds of debate, hatered and chaos over bailing out US banks but we just throw money to Europe no big deal. I understand that they are our biggest consumer of US exports and our banks have 180 billion in loans to EU customers but it doesnt make a whole lot of sense to bail them out with our money so they can still buy our goods when they may still go under. In an interview on CNBC today one of the IMF chairmen said this was basically "kicking the ball down the road" and that some of these countries may still go under in a couple years even after this bailout. Does any one want to float me a loan so i can buy your cattle off of you? O yeah, i may not be able to pay it back either, is the deal still on? Doesnt make sense to me  ???

 

[Show Heifer]

Isn't that like borrowing money from a credit card to pay for a new truck?  I mean, the United States IS BROKE. WE HAVE NO MONEY. WE ARE BORROWING IT FROM CHINA, AND JAPAN.....

go obama go. Don't let the door hit your butt on the way out.

 

[chambero]

As much as I don't like the guy, this isn't an Obama thing.  The Fed Chairman, Bernanke, was appointed by Bush and Obama decided to keep him.  But international finance is so complicated, its really impossible for us to understand if this is necessary or not.  The way I read it, only part of this comes from us. 

But the freight train about to run over us is very close.  I've been able to listen to some talks at some national infrastructure conferences the past couple of weeks by senior civilians working for the Corps of Engineers and other federal agencies that are as non-political as possible and they are all for the first time (at least that I've heard them) warning that the money just isn't going to be there within 3-4 years.  Either entitlement programs (SS, Medicare, etc) is going to have to be dramatically cut back or monstrous chunks are going to have to be removed elsewhere from the budget (infrastructure, defense, etc).

The real reason for this whole mess isn't the governments fault, it's our world wide propensity for spending too much money and wanting the government to give us too much.  Its very hard to practice what we preach though.  How many of our parents and grandparents scream at the idea of of social security or medicare being cut, when in reality they are drawing way more than they ever paid in.  We were able to fake it for a while, but now too many are entering those programs to keep up.  There aren't enough of us in our 30s-50s paying taxes to offset the differential. 

If you break it down (albeit coldheartedly) from a big picture, medical costs are behind an awful lot of this - fueled by our innate desire to substantially outlive our ability to be productive.  The idea of retirement is a relatively new concept and probably one that flat doesn't work.  It doesn't look like that whole idea of retirement is even going to make it through a generation of scrutiny.

 

[fed_champions]

Im not claiming to know anything about the U.S. financial system, but in my analysis of what is going on, China, Japan, and other countries buy Treasury  bonds, (sort of like stock in our country) and when they mature we pay them back. However,  Sending a trillion dollars to bail out countries in Europe should only prove bad for us. Inflation is the first thing that comes to mind, if that isnt bad enough, this puts us at 14 trillion dollars in debt, nearly double what we had when i looked it up in a fed gov't class 2 years ago.

Iv'e done the math, it takes 32000 years to count to 1 trillion seconds, and we're throwing these things around like quarters.

In our Capitalist economy, our help is traded for business, places like vietnam and Korea now have Walmarts and Mcdonalds. Sure we will be able to build these over there, but does this really effect me and you. Look up the Walton family and you will see that between the four kids there is about 110 billion dollars, which should make this the richest family in the world. With Walmarts stealing the market on pretty much everything including groceries and tires, how can we let them keep becoming a monopoly year after year.

 

[SHAGGY]

Chambero you are right that not all of it comes from us, but there are 16 countries that pay in and the US is responsible for something like 55 percent or so if i'm not mistaken. Bailing them out is one thing, but bailing them out and they are still likely to defualt in 2-3 years after this bailout is another. Even though i wish the government would quit spending us into a never ending hole, remember that sometimes it is a considerably good thing if we can borrow money cheap enough, even if it is from China, the problem comes when our current government lacks the ability to get the economy rolling to increase our GDP, in turn making the cheap money we borrow a good investment, as of now, its still just wasted borrowing, and it doesnt seem like its going to stop. Like i mentioned before, the EU bailout thing is a two edge sword, we dont help, they cant buy anything from us, we do help, we throw away several billion dollars that could of went to American citizens. 

 

[cotullaguy]

Chambero you are right that not all of it comes from us, but there are 16 countries that pay in and the US is responsible for something like 55 percent or so if i'm not mistaken. Bailing them out is one thing, but bailing them out and they are still likely to defualt in 2-3 years after this bailout is another. Even though i wish the government would quit spending us into a never ending hole, remember that sometimes it is a considerably good thing if we can borrow money cheap enough, even if it is from China, the problem comes when our current government lacks the ability to get the economy rolling to increase our GDP, in turn making the cheap money we borrow a good investment, as of now, its still just wasted borrowing, and it doesnt seem like its going to stop. Like i mentioned before, the EU bailout thing is a two edge sword, we dont help, they cant buy anything from us, we do help, we throw away several billion dollars that could of went to American citizens. 

This is a giant ponzi scheme.  The cards will fall.  How soon no one knows.  But they will.  The only reason they have not yet is due to gold manipulation and market manipulation with the added ability to print money out of thin air.  The money you have in your pocket/bank account today just lost $1 trillion in value.  It is stealing from us plain and simple.  You congressmen are committing treason to allow it to happen. 

 

[May Cattle Co]

Read End the Fed by Ron Paul, it will sicken and scare you of the government's spending.

 

[mark tenenbaum]

I agree with pretty much everyones sentiments-and as usual Cotulla guy has some very sound logic to his statements-There is an underlying reason for the IMF-thats the Us and a bunch of other countries to control Greece-which makes as much sense as the Us going into the graveyard of dynasties(literally) Afghanistan.Basically the reason Wallmart has become a shining example of our trade imbalance (its a Chinese thing) is we are going to get them in so deep-they will essentially be under a short (in historical terms) economic control by us-they wont be able to pull out or put thier currancy anywhere else. JMO-as for Japan-same deal-it isnt quite symbiotic these days-but in the final analysis-we basically own them O0