This whole recession thing... Page 10

Quote: Tommy Power @ October 3 2008, 10:02 AM BST

DaButt, there seems to be consensus that the economic problems in the States will aid Obama's camp. Americans turn to Democratic leadership for effective fiscal policies? What's the rationale there?

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I think this economic trouble has dealt a serious blow to the McCain campaign, especially as he made such a big thing last week of going to Washington and sorting it out (how did that go, John?). Also, the Republicans are in power, and the party in power always gets blamed when things go wrong. Although in this case a lot seems to be Bush's fault.

I've read enough articles by people I trust that say the bailout is a necessity, so I'm in favor of it. But I wouldn't be surprised if the economy crashes anyway, worldwide.

I don't think President Bush or any political party can be blamed for the mess, but Obama, as the outsider, stands to benefit most. The incumbent party always takes a hit when the economy is soft.

Some of the things being uttered by senior senators worry me a little. The other day Harry Reid blabbed about a major insurance company being on the brink of bankruptcy. He's smart enough to know that talk like that would cause a huge drop in insurers' stock, and it did. Some companies lost almost a third of their worth. The cynic in me wonders if these guys (and a particular gal) aren't rooting for a big collapse in order to secure the election for Obama.

Quote: chipolata @ October 3 2008, 11:19 AM BST

I think this economic trouble has dealt a serious blow to the McCain campaign, especially as he made such a big thing last week of going to Washington and sorting it out (how did that go, John?). Also, the Republicans are in power, and the party in power always gets blamed when things go wrong. Although in this case a lot seems to be Bush's fault.

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Cheers Chip, those are all valid points. I was just interested to hear that Americans vote Democrat when the economy is on the line. Which rather suggests they prefer a "bigger" government than deregulation when the chips are down.

Quote: DaButt @ October 3 2008, 3:27 PM BST

I've read enough articles by people I trust that say the bailout is a necessity, so I'm in favor of it. But I wouldn't be surprised if the economy crashes anyway, worldwide.

I don't think President Bush or any political party can be blamed for the mess, but Obama, as the outsider, stands to benefit most. The incumbent party always takes a hit when the economy is soft.

Some of the things being uttered by senior senators worry me a little. The other day Harry Reid blabbed about a major insurance company being on the brink of bankruptcy. He's smart enough to know that talk like that would cause a huge drop in insurers' stock, and it did. Some companies lost almost a third of their worth. The cynic in me wonders if these guys (and a particular gal) aren't rooting for a big collapse in order to secure the election for Obama.

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Filed along with Thatcher dressed the SAS up as police during the miners strike and planned to assassinate Kinock. Bush plotted 9/11 and Sara Palin is Bin Laden with a gender reassignment.

Silly, silly theories.

Bush could have stopped it by setting strict limits on the amount people could be loaned.

France did it and their economy is doing well.

The fact that your rather subprime Prez had his thumb jammed firmly up his arse, whilst banks lent 100% on properties, then extended the loans, then sold them on is inexcusable.

Frankly he should have been shot, as should a large number of banking CEOs.

Capitalism can and should be regulated.

It's not socialism it's common sense.

That said I am enormously disapointed how the British government has probably been perpetrating this foolishness for even longer.

Nice avatar Chipolata. Cor!

Quote: Aaron @ October 1 2008, 5:26 PM BST

Coutts.

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Aah I see, so to quote many a quiz host, "that's safe".

Quote: DaButt @ October 3 2008, 3:27 PM BST

I've read enough articles by people I trust that say the bailout is a necessity...

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How do they know?

Quote: Frankie Rage @ October 5 2008, 9:41 PM BST

How do they know?

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Because they're economists and bankers they know more about it than I do. It's clear from the reactions in Europe and elsewhere that this is a global problem and there seems to be a general consensus that a bailout is required. Most importantly, they need to ensure that the whole mess doesn't happen again a few years down the road.

And of course economists and bankers provide the most unbiased opinions on this...

The bail out money, where exactly does it come from|?

And of course economists and bankers provide the most unbiased opinions on this...

It's the age-old problem though isn't it. If you want an informed opinion about science, you need to ask a scientist, not a cheesemonger. OK they're biased but what choice have you got?

I always think it's important to read what people you disagree with think.

Evidence balancing is something we all need to do in these internet days.

To a certain extent. There are some opinions it's not worth taking the time to listen to, though, eg most conspiracy theorists.

The scary thing about the internet is how shiny and probable it can make silly theories look.

Quote: Griff @ October 5 2008, 10:09 PM BST

It's the age-old problem though isn't it. If you want an informed opinion about science, you need to ask a scientist, not a cheesemonger. OK they're biased but what choice have you got?

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But uttering opinions has a direct effect on the situation when it comes to systems such as markets that are driven by psychology. So it isn't completely unreasonable to expect many market participants to give opinions in order to change the situation. But their motives and interests aren't always transparent.