eCharcha.Com   Support eCharcha.Com. Click on sponsor ad to shop online!

Advertise Here

Go Back   eCharcha.Com > Current Affairs > Economy

Notices

Economy Fiscally fit?

Reply
 
Thread Tools Display Modes
  #16  
Old September 19th, 2008, 06:14 PM
echarcha's Avatar
echarcha echarcha is offline
Sutradhar {admin}
 
Join Date: Jul 2000
Location: CA, USA
Posts: 45,338
echarcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond reputeecharcha has a reputation beyond repute
Cool Re: Federal takeover of AIG planned

Quote:
Originally Posted by Ravi View Post
That's called Socialism chapai. Just because you are afraid some (or a lot of) jobs are being lost, you suddenly want govt to bail them out.
If the entire economy crashes, let it. It may at least lay way for a new foundation. Why am I supposed to be footing the bill to bail out Fannie May, Freddie Mac, Bear Stearns and AIG?
And then, you keep repeating the mantra 'Dems will increase my tax'. Rethugs took you to a war, cut taxes, and are now bailing out massive companies. So who pays for it? Mera baap?
Ravi bhai, as I said, I am a common man yaar. I dont understand too much of economics or politics. As you said, this is socialism and I dont like it. I know, but then you know what - ordinary people like me are still not above worrying about the next month's bills. If an all out layoff occurs and US economy hits the bottom, then there will be extreme hardship for folks like me.

And dont think jobs will suddenly again flow to India. Right now, even Indian IT firms are planning for big layoffs and some have already started doing 'performance based' layoffs of employees. So its not like I can pack my bags and go to India and get a job. A majority of working adult life has gone here in USA and its not easy to pick your bags and go back home. Its not impossible but surely not easy.

So even if I dont like the politics, and the economics right now, I have to ultimately agree with whatever will preserve my well being first. Yes its selfish, and ,maybe short sighted, but I have born the brunt of layoffs once and its horrible. I dont want that.

Yaar, I am like that ordinary man who has some ideas about politics and economy and all that, but am hapless to do anything about anything because I dont have the comfort of not worrying about my own self preservation and not worry about paychecks. Maybe if I had a business like a desi restaurant or a gas station or something which had a steady income, come what may, then maybe I would be in a position to do something.

Quote:
Originally Posted by gayaguzra#1 View Post
I think the US govt is not stupid. Yes they are bailing out these companies for the big picture of overall economy, but they are giving it on loans and once things start picking up in a couple of years, they'll make a killing of profits. It looks to be a sensible business decision as well. This was already done in 89-90, when the govt bailed out hundreds of banks and when the economy looked up again made a windfall profit

I hope you are right and the government is right and US economy survives this downfall and things keep moving ahead.
__________________
eCharcha.com
-Loud and Proud Desi Opinions
Reply With Quote
  #17  
Old September 20th, 2008, 01:03 AM
Ravi's Avatar
Ravi Ravi is offline
Senior eCharchan
 
Join Date: Dec 2000
Location: Liberal Oasis
Posts: 2,518
Ravi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond reputeRavi has a reputation beyond repute
Re: Federal takeover of AIG planned

Quote:
Originally Posted by echarcha View Post
Ravi bhai, as I said, I am a common man yaar. I dont understand too much of economics or politics. As you said, this is socialism and I dont like it. I know, but then you know what - ordinary people like me are still not above worrying about the next month's bills. If an all out layoff occurs and US economy hits the bottom, then there will be extreme hardship for folks like me. If a Dirty Fucking Hippie Programmer like me can understand, not sure why conservatives like you can.

And dont think jobs will suddenly again flow to India. Right now, even Indian IT firms are planning for big layoffs and some have already started doing 'performance based' layoffs of employees. So its not like I can pack my bags and go to India and get a job. A majority of working adult life has gone here in USA and its not easy to pick your bags and go back home. Its not impossible but surely not easy.


I hope you are right and the government is right and US economy survives this downfall and things keep moving ahead.
Chapai, I am also a commoner. I am not an economist, so my understanding of economy is not better than that of a snowball. But look where this country's money is going. 3 trillion dollars for Iraq war, and not a single conservative has said 'sorry, we fucked up.' Even on this board no neocons ever fessed up. Everybody is for less taxes and more war.

Just imagine how much 3 trillion dollars can achieve.
1) Just around 50 billion can ensure universal healthcare (not socialized medicine), so we get rid of privatized profits and socialized losses by insurance companies. Insurance companies are there for a reason - that is to make profit, not help you. If one thinks otherwise, he is an idiot.
2) 50 Billion can guarantee to universities - so no freshly graduated student leaves with student loan. No good student ever needs to ever leave school with a loan.
3)Why is the govt bailing Wallstreet and not main street? I am not in favor of govt bailing out main street. But why wallstreet alone?
4)Infrastructure: Most important thing: Bridges in this country are falling apart. This country is old. Roads/Bridges are old. They need to be rebuilt. Imagine how this country be beautifully be re-built with the money US is spending in Iraq (or has spent already).

As for your second point, jobs will not flow to India. Period. Indian software economy depends on US (mainly). Recession in US means recession in Indian software. Great job here = great job in India. No job here = no good job in India. One good thing we have (as Indians in US) is that you can reasonably fall back on India if you don't find any good job here. But just think about those who can't 'US Americans'. They have nowhere to go.

Quote:
Originally Posted by echarcha
I hope you are right and the government is right and US economy survives this downfall and things keep moving ahead
This really gets me worked up. How can you just 'hope' for things to happen, without any coherent argument? I always hoped that India 'won' all Cricket World Cups.
__________________
() => new Beer();

Last edited by Ravi; September 20th, 2008 at 01:40 AM.
Reply With Quote
Reply

Bookmarks

Tags
aig, economy, lehman, merill lynch, slowdown


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Patriot missiles built in Federal Prisons (by civilian prisoners) dhurandhar Defense 0 March 10th, 2011 10:54 PM
Smooth transfer and takeover - bush to obama echarcha Audio, Video & Photography 3 February 2nd, 2009 08:59 PM
AIG - The black hole feeding on Federal Reserve! 2gud Economy 6 November 15th, 2008 01:19 PM
Federal Reserve : Lotsa surprises dhurandhar Economy 4 February 3rd, 2008 08:36 PM
Labor Certs now getting rejected at federal level Mitchell_Bhai Life Abroad 0 January 2nd, 2003 12:04 AM


All times are GMT -7. The time now is 06:57 AM.


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Site Copyright © eCharcha.Com 2000-2012.