There was a much better solution than what was done (and there were a few congressmen who actually had the guts to say this plan was horrible). Instead of just saying "we need to do something" the government should have been saying "we need to take some time and think about this thing and do the right thing".
Watch this guy's videos on youtube and take a look at his alternate plan. It wouldn't involve stealing money from US citizens and it would get rid of the problem, which isn't a problem of capital but is rather a problem involving a lack of trust.
http://www.youtube.com/user/kdenninger
Quote:
Originally Posted by Ankesh
I personally think the US Govt is in a no win situation.
Because they loaned a trillion bux - people are saying its the end of capitalism as we know it.
If they would have done nothing, people would have said - the Govt is useless and spineless and is seeing the economy go to bust without doing anything about it. Its the end of capitalism as we know it.
Its a no-win situation for them.
So do you have a better solution that is win-win?
(Maybe this should have been a separate thread so that it doesn't interfere with the poverty part?)
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