Quote:
Originally Posted by molson
Wouldn't a massive bailout be the opposite of showing faith in the country?
What happens when the Chinese decide our credit is worthless? Who pays for the next bailout if we succesfully avoid market correction?
At some point, the money just becomes completely pretend. THAT'S when the economy really collapases, when the currency is worthless.
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No, I think the bailout temporarily stabilizes things in the short term and gives us a chance to figure out how to fix the mess (assuming they do that - if they do the bailout and then think everything's fixed then we're definitely screwed)
I really do think that the end consequence of the financial system imploding is going to be a massive jump in unemployment. People who have done everything the right way - worked hard, got a good mortgage, made their payments - some of those people will lose their jobs because of this. Why should they be punished along with the greedy and incompetent people running these failed financial firms?