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View Poll Results: Do you support the housing bailout legislation?

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  • Yes

    6 25.00%
  • No

    15 62.50%
  • Other (explain)

    3 12.50%
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Thread: Housing bailout

  1. #41
    Senior Member Enyo's Avatar
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    Quote Originally Posted by Lateralus View Post
    The bill will help ~400,000 people to avoid foreclosure on their sub-prime mortgages by refinancing them into fixed-rate government backed loans. Also, $4 billion will be set aside to allow communities to buy foreclosed properties.
    I get the heebie jeebies any time a private citizen's deal becomes a government-backed debt. It's just another step closer to the nanny state.
    "If you can't be a good example, you'll just have to serve as a horrible warning." Catherine Aird

  2. #42
    Senior Member Enyo's Avatar
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    Quote Originally Posted by heart View Post
    But what if bailing them out saves the whole economy from taking a nose dive?
    It was on the verge of a nose dive before the housing crisis. Let it all go to hell in a handbasket. It will make for a few tough years, but it will correct itself faster if the government just keeps their fingers out of it and lets the market correct itself.

    I refer to the New Deal actually extending the Great Depression, which I believe that we are once again on the verge of.
    "If you can't be a good example, you'll just have to serve as a horrible warning." Catherine Aird

  3. #43
    Order Now! pure_mercury's Avatar
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    Virginia Governor Tim Kaine was just on CNN, blaming the Fannie Mae and Freddie Mac problems on the "laissez-faire" Bush administration. HAHAHAHAHA. . . Fuck you, Tim Kaine.
    Who wants to try a bottle of merc's "Extroversion Olive Oil?"

  4. #44
    Senior Member Enyo's Avatar
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    Quote Originally Posted by pure_mercury View Post
    Virginia Governor Tim Kaine was just on CNN, blaming the Fannie Mae and Freddie Mac problems on the "laissez-faire" Bush administration. HAHAHAHAHA. . . Fuck you, Tim Kaine.
    Fuck all of 'em. It's time to kick all of the politicians out of Washington and start over from scratch. Let's forget about left and right and start putting in people who care about right and wrong.

    No legislation regarding personal life choices (gay marriage, abortion, etc), but focus only on matters of national security (border security, etc.)

    This government needs to stop focusing on how people live and remember that people live (and then keep them alive, but not repressed)

    And also examine all the laws that are on the books that give any elected body more power than they should have. Then strike 'em down as being unconstitutional.
    "If you can't be a good example, you'll just have to serve as a horrible warning." Catherine Aird

  5. #45
    Senior Member Lateralus's Avatar
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    Ron Paul wrote a pretty good article on this issue:

    Commentary: Bailouts will lead to rough economic ride - CNN.com

    When interest rates are lowered to below what the market rate would normally be, as the Federal Reserve has done numerous times throughout this decade, it becomes much cheaper to borrow money. Longer-term and more capital-intensive projects, projects that would be unprofitable at a high interest rate, suddenly become profitable.

    Because the boom comes about from an increase in the supply of money and not from demand from consumers, the result is malinvestment, a misallocation of resources into sectors in which there is insufficient demand.
    Blame banks all you want, but doing so solves nothing. More regulation solves nothing. It only treats a symptom of the disease.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  6. #46
    Minister of Propagandhi ajblaise's Avatar
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    Thank God Ron Paul the economist gave us his opinion.

  7. #47
    Order Now! pure_mercury's Avatar
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    Quote Originally Posted by ajblaise View Post
    Thank God Ron Paul the economist gave us his opinion.
    You may not agree with the Austrian School of Economics (I don't on everything), but Ron Paul knows WAY more about banking and finance than almost anyone in Congress.
    Who wants to try a bottle of merc's "Extroversion Olive Oil?"

  8. #48
    Minister of Propagandhi ajblaise's Avatar
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    Quote Originally Posted by pure_mercury View Post
    You may not agree with the Austrian School of Economics (I don't on everything), but Ron Paul knows WAY more about banking and finance than almost anyone in Congress.
    The Austrian School of Economics is basically debunked, but I'll admit that Ron Paul has studied economic matters extensively, but he seems to have blind support for the Austrian School.

  9. #49
    Senior Member Lateralus's Avatar
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    Why are you always so vague? So you can't be proven wrong?
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  10. #50
    Minister of Propagandhi ajblaise's Avatar
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    Cuz I don't always want to take the time to go into details? But for you I will.

    The Austrian School of Economics would get more respect if it used mathematics and didn't reject the scientific method and empiricism.

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