Can the economy limp along for the next 35 days and then we fix it when we take over if we aren't

[lonestarnot]

CHEATED? Sometimes time management means everything. :shrug:

[Aqaba]

1. I dunno but Suze Orman sounds PISSED!

[Patsy Stone]

2. I think they need some money, ASAP

but I was wondering the same thing on the larger question.

[lonestarnot]

3. Hell! I'll eat dirt cakes if I have to for 35 days!

[kirby]

4. 35 days? The next guy is not until Jan '09. n/t

[lonestarnot]

15. See #11

[kirby]

23. I hear ya, but with a lame duck, it might be tough...

But you know, maybe after the election, everyone will be willing to ignore the voters since they will have 2 years to make up for it.

[avaistheone1]

29. The economy hasn't been well for the last eight years. What's the hurry now?

[Renew Deal]

5. I think that needs to be the solution.

I don't think Congress wants to vote on this before the election.

[Tallison]

6. Lack of liquidity will cost about 100,000 jobs/week

is the consensus of economists I've been watching al damn day. The problem is that their individual crises compounds the overall one, so I'm not sure it's a wise or cost-effective risk in the long run.

[lonestarnot]

10. So that would be 350,000 jobs according to your estimates?

Which would boost unemployment numbers to what 8.5%? or higher?

[Tallison]

17. Pretty much.

It's so depressing, I wish I could tear myself away from the analysis, but I can't.

[lonestarnot]

42. All things up, must come down. We will make it!

:hug:

[Tallison]

43. Aw, thanks

I needed that. :hug:

[avaistheone1]

44. Link please.

Who says what jobs will be lost and where?

[roamer65]

7. 35 days? Try 112 days.

That is what my Moron countdown clock says right now. Leadership will not change until Jan 20 2009. Thank goodness we don't have to wait until March like people did for the changeover from Hoover to FDR in 1933.

[lonestarnot]

11. The outcome of the election alone could influence the politics on this shit. 35 days!

[Phred42]

8. You assume taht There will be an election and if there is- it wasn't stolen

THat's a huge leap of faith at this point

[lonestarnot]

12. Well in that event we face certain civil war and who gives a fuck about the economy when we have a

civil war to contend with? :(

[4 t 4]

13. I feel so sorry for B.O.

I almost don't want him to win. He is Way to good of a man to inherit this way fucked up mess. It's just not fair he won't be able to win for losing. And they made sure he won't be able to do for us what he planned. It's a lose lose no matter what.

[lonestarnot]

18. Oh fuck that! He has more sense in his shit that all that barrel load of pugs ever thought of

having. All he needs to do is create jobs and stave off the fucking richies with their hands out. He can do it. I have confidence in him.

[OmahaBlueDog]

19. The great American Presidents have inherited messes

FDR, Abraham Lincoln -- even George Washington.

[backscatter712]

28. That's why we need him.

Of course, our country's fucked up, and if we're going to turn things around, we need the best leadership we've got, and Obama is absolutely the best.

Yeah, things will be rough, but we've got to get in there, do our damnedest, start by fighting to win this election with a fury never seen before in this country's history, then continue to push to unscrew every mess we've got, methodically, for as long as it takes. We're Americans. We can do this.

YES, WE CAN!

[NewJeffCT]

9. Probably not

The Bush economy is really up shit's creek right now, and something needs to be done. I agree with Krugman - write a bill the Democrats can be proud of and force the vote along party lines.

[lonestarnot]

24. In otherwords with lieb, we lose again? Hugh ugh.

Didn't happen today.

[Waiting For Everyman]

14. It doesn't make much sense to make this decision for the next administration.

They should figure out something temporary, but effective, to make it until January.

Foreclosure moratorium, definitely.
Money for refinance of any mortgage if payable and in default (especially those that still have some positive equity) in a Home Owners' Loan Corp. type of framework, VA, and FHA.
Personal bankruptcy roll-back.
Beef up unemployment, increase food stamps and energy eligibility.
Continue the ban on short selling.
Money for local/regional banks or CUs that are ok.

Seems to me, bankruptcy and the RTC could handle any bank failures.

[lonestarnot]

20. That would be good time management! Temporary but effective!

[Bozita]

16. Krugman said the next two market days will really pressure Congress on Thursday.

I took that as "You ain't seen anything yet!"

[Tallison]

21. Oh, they're gonna pass something

Since this AM, I'm hearing uncharacteristic consensus among right and left leaning economists regarding the risks of doing nothing.

[lonestarnot]

22. I didn't say do nothing. A temporary fix to quell panic and job loss and stop the intentional

draw down on liquidity.

[Tallison]

31. I know you weren't...

I'm just reassuring myself. :hi:

[lonestarnot]

34. We will make it!

:hi: :hug:

[Greyhound]

25. Of course it can, the Fed has the authority to do whatever is required.

One of the problems is that the banks have no motive to do what they need to do as long as the promise of a giveaway is in the offing. Think about it. Why would you sell a non-performing asset at a fraction of it's face value (1/5), when it is very likely that your generous Uncle will simply write you a check for the full value.

If Congress would call their bluff, the assets would move, the valuations would be corrected, and everybody's books would show a more realistic picture of the companies real health. Personally, I think this is a, if not the, major reason they don't want that to happen. What happens to your stock price if the investors discover you've been cooking your books for decades and the company is only worth half what they told you it was.

[lonestarnot]

36. I know you are right!

But who is going to get the hungriest first? :(

[Greyhound]

45. Well we're more used to it (some of us anyway) and every day they lose more money

and that really hits them where it counts, in the ego.

I say, let's find out who can survive longer without the other.

[fascisthunter]

26. YES! And it Should.... OUR DEMOCRACY IS MORE IMPORTANT

It's about time Americans make a real sacrifice for the good of this country and stop whinning about losses. We lose this bailout to these thugs, we are placing a shackle around our necks for many years to come. They are literally trying to bankrupt us and make us all tax slaves for the wealthy. Snap out of it and suck this up. Let the fucking market bleed a little. Tell them who is boss...

[depakid]

27. A new administration is many months away

and the difficulties are international- in other words- not an American problem- though America has interestingly enough shown that even with years of Bush and far right fundamentalist abuse America remains the a realtive economic leader- as it has been since WW II.

Curious that.

Defies common thought and emotion.

Paul Kennedy wrote an interesting (and quite dense) book in the 80's called "The Decline and Fall of Great Powers."

Its central thesis (readers correct me if I'm wrong) is that relative economic power defines which nations rise and which nations fall.

What a lot of the recent activity shows- at least it shows me- is that reasonable people like Barack Obama are far better equipped to handle that reality than ideologues on either side.

[lonestarnot]

32. See #11

[depakid]

35. And that helps us all how?

[lonestarnot]

37. Should the dems take the majority in the house and senate and Barack wins the election,

the politics on the bailout will change. You will see some cooperation real fast in what is left of the pugs. A temporary fix straight away. That's how.

[depakid]

39. Fair enough-

At least you have a take- some others, they'd appaently do us all in.

[lonestarnot]

40. I think dems have already figured this out or maybe they just got lucky.

I think they a refereeing the clock. Tic toc, tic toc, and the more desperation that appears in the next 35 days, the more they are going to work on an agreeable fix more to our liking!

[spanone]

30. i believe it's january when we take the keys back

[lonestarnot]

33. See #11

[OhioChick]

38. I agree....

The economy has been gimpy for quite a long time now. Bush wants this done NOW.....so it doesn't interfere with his legacy.

[lonestarnot]

41. And pugs' installation of McMousolini