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GameStop Corp. Message Board

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  • spanxds spanxds Sep 29, 2008 12:41 PM Flag

    Why is the bailout unpopular (polling) to avg Joe?

    You only have to look at this chart http://en.wikipedia.org/wiki/Image:Shiller_IE2_Fig_2-1.png of housing prices in the USA to see that have risen far faster than wages. This is unprecedented and unsustainable. They WILL come back far more than they have done to date (and will probably overshoot to the low side). The government stepping in to try to stabilize at this point will only result in the loss of more public money. We aren't even in an official statistical recession yet for crap sake!

    The shit will hit the fan sooner or later with or without the bailout. Bankruptcies of banks and individuals will (and must) occur one way or the other. The bailout sets a very bad precedent for future government action and business practices. It's main effects will be to possibly delay the inevitable and to increase the probability that the government will join those businesses and individuals in bankruptcy.

    We need to start changing the public (and government) attitude towards debt at all levels. We might as well start doing it now. It never pays to wait to go to the dentist if you have a cavity. The bailout is effectively like cramming an aspirin into that cavity.

 
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