Watching the news this evening I hear that Australia has dropped it's interest rate by whole whopping 1%, which apparently means a great deal to the world at large. Russia, Iceland, England.. all bailing out their financial insitutes as well. Of course the U.S. still leads the world in the dollar figures, but what is actually going on?

Since the U.S. stock market started plummeting, so too, have the gas prices. What was $4.45/gal only three weeks ago is now down to $3.04/gal. But... I thought the hurricanes were the reason the gas prices rose so quickly? And now it's Wallstreet that is causing the prices to drop even faster?

Sounds to me like all this was pre-empted. Done in a way to make the subjects of the world believe one thing, when in all actuality, it was planned all along in order to do away with the heavy debts owed to the countries selling high priced oil and of course, China, who sells deadly poisons to the U.S.

I just can't believe that the governments of the world did not get together and set this scheme in motion in order to make things appear worse than they are in an effort to regain the positive attitudes of their people.

We had a big debat in my social studies class... Unfortunatly I feel asleep at the start of the period, and woke up at the end.
I tend to avoid the News because 91% of it is total crap! BUT I have heard of this, hmm bummer..

I think what you are starting to see here is a big game of follow the leader, the rest of the world was waiting to see what the US would do in this current situation and they decided to follow suit, so when all does not go well for the world they can blame the U.S. because well.. we did it first and you know we're suppose to be perfect and all so the end result would be that the U.S. has gone and screwed things up once again and the world can (and most certainly will) point it's finger in our direction.

My personal feeling on this is that we just made the worst mistake of our lives and now we're going to pay for it big time, especially now that the rest of the world is trying to follow what we're doing. These banks could have worked with the people to resolve their issues, but they did not so this whole collapsing of the banks was purely their own fault. There have been recorded accounts of people working for banks to push the higher interest cash advances to anyone that calls especially those in "financial crisis" now how f*cked up is that? You're in a financial crisis and a bank wants to give you a high interest load to help you through this financial crisis and create one later on down the road? No f*cking thank you but I would just assume to let them all die and drown a horrible death and then spend all eternity thinking about what they have done while getting extra large pineapples shoved where the sun don't shine.

LOL! Sounds like you're a wee bit disgruntled there, Watari. But I have to say that I agree. It always seems that the ones creating all the bullshit always end up getting their asses wiped for them so they don't have to bend over or reach around to take care of it themselves. Sorry, but it's not anyone else's job to clean up after me, so why should I, or anyone else, have to clean up after them? I have my own children, and surely do not need to raise full grown ass adults, too. My god, it's not difficult to balance a checkbook. It's not difficult to say 'no'. Of course, it's also not difficult to look at your own personal income and budget and realise that you simply cannot afford to live like the overpaid bourgeois either.

Yes, the fingers will be pointed at us, but still, I do not believe that it all wasn't planned out in some great secret summit before hand. The U.S. has broad shoulders, sure, we can take the heat of the rest of the world's hatred, so we'll go first. Please... give me break. No one is going to follow suit so closely, if they hadn't already thought it out first. What? They were all just going to allow their countries to go bankrupt? Nah... no way. They simply waited to see how the American peeps were going to react before they spilled their own beans.

I heard about Aus's drops and now its 1 US dollar is 68 Australian cents, a drop of almost 40 cent O.O which is terrifying.. and apparently the bailout isn't working? Wallstreet is still plummeting even after the bailout.. whats up witht that? Even though I knew it wasn't gonna work in the first place.. not a very wise move. I just hope America gets out of this, because if they go down so will we >>

But honestly Bush should just resign now before they get him for warcrimes as well.

Anyone hear about Englands trillion dollar bailout? Dunno how that will turn out..

Well here's the thing about the bailout, it's not suppose to work immediately in fact the first payout is suppose to be in about 6 weeks or so, then by their THEORY it's suppose to help stabilize the economy by allowing the banks to get back on their feet while the government buys up certain assets (mainly bad debt accounts) and attempts to "work" with the client or consumer to help them repay that debt. Now while this sounds fine and dandy in theory, there's one huge problem with this, IT'S THE F*CKING GOVERNMENT DIGGING THEIR HANDS INTO PRIVATE BUSINESS! Now we all know how the government handles delinquent accounts especially when it comes to people that haven't paid their taxes "lets put a lien on this and that and oh lets not forget to take what we can out of your bank account, oh you don't have enough to pay up, jail time *does the hammer dance*"

So yea you can say I have issues with the government handling anything that could potential give them the authority to handle my accounts that I may have a hard time paying, I suspect this to all go very, very poorly and I bet the US loses out on billions due to mismanagement, wouldn't that just make this a perfect little love triangle, the governement loses out on billions because the f*cktards over seeing this project mismanged everything and bought up the wrong things and didn't pursue what they needed, oh I can see it now, another Katrina in the works. We'll just call this Hurricane Bush and Congress.

In other words, its a disaster waiting to happen.. how frustrating it must be expecting your whole country to go down the drain >>

And screw the banks and the government they dont give a shit about anything but themselves, should all get shot in the head.

Yea pretty much I think that sums it up right there it is quite the cluster f*ck especially when the majority of the people were clamoring for the government not to do this! But a majority of Congress and Bush had their heads so far up their ass' that they could not hear what the American People were saying and this is the problem with government today, they stopped listening to the people and started to listen to the ones with the money. It's a f*cked up situation we're all in.

I found a good link to a commentary on cnn.com that I think is really well done imo and I think says a lot about what the government is missing in these days of crisis.

http://www.cnn.com/2008/POLITICS/10/09/smick.crisis/index.html

Haven't read your article yet, but watching the news just now and it is so obvious what happened...

All the financial leaders of the richest countries in the world got together today and held a meeting. They are all going to have their governments buy up the falling stocks. Now if the governments become the largest stockholders in the biggest businesses in the world, what then? Looks like the New World Order wasn't a mere conspiracy theory.

Man this is really getting crazy, I'm expecting another World War over whos gonna be the world leader if this really does happen...

So, from what I was awake to hear during my 'Globel Economics' class, is that the 'G7' meet up earlier and they are tring to talk about how fix this economic problem?

I am sure that my teacher explained 'in detail' what is probably going to happen, but what do you guys think? I mean how is this 'Talk' going to do any good?

(While skimming the posts on the other thread, I seen Watari saying something about the Goverment has it head up it A@@ I mostly agree there, except I know the goverment has it hard. They are tring to satisfy every one and that is very hard, but I am pretty sure a trained monkey can do better.... )

With that said and on a less serious note. How sweeet would that be if a monkey was in our Goverment!? *Flash back of a lot of Disney movies, that involve monkeys and sports....* :uhm:

Well I can say this much, the governement isn't trying to satisfy everyone, because really if they were trying to satisfy everyone they would be doing more to help the poor and desperate, instead they are throwing their support at the rich and the weathy, the people who are in these "failing" companies and when they let the CEO go they get millions of dollars in a severance package, I mean come on, if you were looking out for the best interest of the people then you wouldn't seriously be trying to throw your support at the weathy, would you?

I can grant you that the collapse of these major banking institutions would have some major repercussions on the economy and that stabalizing these companies would be a must to fix the economy, but they are going about it in all the wrong ways, I can honestly say that I wouldn't be able to come up with a better more efficent plan but I think with the sheer number of economist in the world there must be one that would sure be better than what they are planning on doing.

But you know, there is one simple solution to this credit crisis that we have, QUIT GIVING OUT CREDIT!! Once they stop freely handing out credit and giving it to those that absolutly cannot afford it then they can surely start the fix the economy. We operate on a free market enterprise and I can say that we do to a certain degree, we operate on a free market enterprise as long as you can afford it, but handing out credit to those who cannot or will not pay it back is absurd and is going to call for certain doom, and many economist have been saying this for YEARS!! They just haven't been calling about this for the past few months, this goes way back to the mid 1990's that economist were warning about this, I remember hearing about this stuff in high school and going "hrm wonder what this is about." Of course I didn't know any better because a lot of it didn't pertain to me at the time so I just shruged it off.

As for the G7, it's just a facade, nothing more nothing less, they are just talking about stuff they have no clue about, they read the reports and try to convince one another that their way is better and should be taken into consideration. G7 will not solve anything in this matter, what will solve this matter is action from the people, taking care of your own debts and managing your debts in a way that you can manage is what will better the economy. The goverment has their heads so far up their asses now that they can't even hear the people when they were screaming about the bailout. I can tell you right now that the congressmen who voted against the bill are more than likely going back in to office, the ones that voted for it are probably not going to have jobs come Nov 2nd.