Author Topic: Bush wants $700 BILLION from Congress for Bailout (Read 558 times)

Matthew · « **Reply #1 on:** September 20, 2008, 02:25:01 PM »

Why is it a "given" that the economy should constantly expand?

Are we living in a finite world, or an infinite one? Is the world expanding in diameter every year or something? Then it might make sense.

Infinite growth is not possible in a finite world. It's basic common sense! But infinite growth IS necessary in a debt-based economy like ours. That doesn't mean it's any more possible -- it just means that we're doomed.

Memorize this fact: Whenever someone takes out a loan, MONEY IS CREATED. But there's a catch -- enough money is NOT created to pay back the loan with interest. So that interest has to be "siphoned" out of the economy. To make up for that, even MORE people need to take out loans the following year. And so on, and so on -- until you reach some kind of physical or geologically-imposed limit (like we have right now).

Matthew

trent13 · « **Reply #2 on:** September 20, 2008, 07:50:31 PM »

Granting that our entire financial system doesn't make any sense what so ever (!) and is ultimately doomed to world-wide failure, it makes me so, so, so angry that those people who are watching their spending and their debt, that aren't out there spending their mortgage money on movies, pizza, and the latest and greatest TV, are the ones who are penalized in the end. The people who actually pay their taxes and are concerned about their finances are going to be the ones bailing out all the jerks who just don't care! Arrgh!

gladius_veritatis · « **Reply #3 on:** September 20, 2008, 11:14:57 PM »

Oh, the system, albeit evil, makes perfect sense - and works perfectly in the hands of the criminals who created it. IMO, it is going to get really ugly very soon. God speed.