I'm starting to doubt $700 billion is enough to save the US economy

[Sgt_Strider]

http://www.bloomberg.com/apps/news?p...nO4&refer=home

So the US govt has to step in again to save Citigroup even though they've got a cash infusion from the US govt earlier in the year. While the $700 billion was billed as a solution to save the US Financial sector, it seems like the money may be used to save other sectors of the ailing economy such as the auto sector. I have the feel that $700 billion may not even be enough. It's probably going to take another $700 billion to save the economy as so many companies are in the red and have significant importance to the US economy.

[phomp]

Many have said that 700 billion will not be enough, right when this plan was announced.. Hell, even I made some posts agreeing that 700 billion will not be enough and a good guess would probably be in the 3-4 Trillion dollar range.

[abu_sme]

Well, that money afaik is coming from the 700 billion fund, but it isn't going to be long before it is depleted at this rate regardless.

[Peckerwood]

I am starting to doubt that any of this "crisis" was an accident

[UncleSteve]

I am starting to doubt that any of this "crisis" was an accident

Gary Bell, aka "The Spaceman" on AM640 in Toronto is way ahead of you on that one. Of course, if he stubs his toe in the bathtub, he still blames the Illuminati.

[Peckerwood]

Gary Bell, aka "The Spaceman" on AM640 in Toronto is way ahead of you on that one. Of course, if he stubs his toe in the bathtub, he still blames the Illuminati.

Well the great depression was engineered by the same people that backed Hitler's rise to power. Repeated recessions in this case are being used to consolidate wealth into the hands of the few by transferring the costs to the taxpayers by means of a cooperating government.

Sickening to see government being towed along by the coattails of the banks and the rich. None of these people actually need to be bailed out...fear is being used to increase a new form of hidden yet open taxation scheme...called "recession".

[flexwong]

I am starting to doubt that any of this "crisis" was an accident

it was never an accident. warren buffet called it poetic justice. it's the fault of the big banks in the US and how greedy their executives were.

[bionicbadger]

it was never an accident. warren buffet called it poetic justice. it's the fault of the big banks in the US and how greedy their executives were.

Partly the fault of banks and partly the fault of stupid people who borrow more than they could ever pay back. Also partly the fault of the real estate industry for fooling people into thinking that their house prices would continue to go up

[65505201]

You were a fool if you thought a bailout was the right strategy or that $700B would've been enough.

[Igor01]

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

I'm afraid that this time next year they'll be throwing tens of trillions around and it will seem like chum change. May I also note that they don't really have this money and have to either borrow or print it.

[urameatball]

$700B surely wouldn't bring economic prosperity, but it does it's job in helping prevent another great depression.

[Sgt_Strider]

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

I'm afraid that this time next year they'll be throwing tens of trillions around and it will seem like chum change. May I also note that they don't really have this money and have to either borrow or print it.

It'll probably be a combination of both, but the US government is more likely going to borrow. Printing more money will just contribute more to inflation and hurt the value of the dollar.

[Sgt_Strider]

Well the great depression was engineered by the same people that backed Hitler's rise to power. Repeated recessions in this case are being used to consolidate wealth into the hands of the few by transferring the costs to the taxpayers by means of a cooperating government.

Don't you think that is a stretch there?

Sickening to see government being towed along by the coattails of the banks and the rich. None of these people actually need to be bailed out...fear is being used to increase a new form of hidden yet open taxation scheme...called "recession".

I think this is one of those situations where the gov is damned if they do and they're damned if they don't.

[netriones]

All it takes to fix economy is time, more or less.

[Dog5]

Don't you think that is a stretch there?

Well, it's certainly possible instead that everyone in the political and financial sector and in the media are charlatans and are economically illiterate.

That alternative doesn't seem particularly comforting to me either.