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Fred Thompson expains the bailout

Discussion in 'Consumer Affairs' started by YmirGF, Jan 8, 2009.

  1. YmirGF

    YmirGF Bodhisattva

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    I was sent this in my daily email today and have to admire Fred all the more for this. What he is saying is so true it almost hurts.

    Spend: Yes we can!!!
     
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  2. Willamena

    Willamena Just me
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    That was good. Thanks.
     
  3. Dunemeister

    Dunemeister Well-Known Member

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    ALMOST hurts?
     
  4. Buttercup

    Buttercup Veteran Member

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    For some reason I'm thinking he's against the bailout option. :p
     
  5. YmirGF

    YmirGF Bodhisattva

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    One might think that, but I couldn't possibly comment.
    Sadly, I had thought this thread would generate a bit more interest. Oh well.
    I guess the garden variety Dumbocrats see the name Fred Thompson and run screaming in the opposite direction.
     
  6. Buttercup

    Buttercup Veteran Member

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    I tried to think of a more lengthy response but ran into these obstacles....for myself at least.

    1..I know virtually nothing about global economy or large scale economics so I couldn't add any type of solution scenario to the table.

    2. Fred didn't offer a solution per se so I couldn't give an opinion on his opinion.

    3. I'm waiting to see what happens. What can I do about it anyway?

    Maybe we can talk from there?
     
  7. Troublemane

    Troublemane Well-Known Member

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    hee hee! ask not what your country can spend for you, ask what YOU can spend for your country!!! :biglaugh:

    love it!!! thanx!!! :D
     
  8. Sunstone

    Sunstone De Diablo Del Fora
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    Economics is over Thompson's head, don't you think? Rather reminds me of Bush -- That is, Fred's out of his depth.
     
    #8 Sunstone, Jan 10, 2009
    Last edited: Jan 10, 2009
  9. YmirGF

    YmirGF Bodhisattva

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    And Saint Obama too...


    But Phil, that is what would be so amusing, if it were not so serious. If I am not wrong, and I don't believe I am, this situation is over the heads of even the savviest economists. In short, they really don't know if their ideas will work or not. It's not much more than a gamble.

    Oh what the heck, it's not like I have to worry about this problem all that much. The big crunch will hit after I am pushing up daisies. I guess we may as well enjoy the false economy until then... Think I'll go shopping. I hear Wal-Mart has a sale on the latest imports from Communist China.
     
    #9 YmirGF, Jan 11, 2009
    Last edited: Jan 11, 2009
  10. Willamena

    Willamena Just me
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    But humour isn't.
     
  11. Shadow Wolf

    Shadow Wolf Crazy Diamond

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    He tells us all to spend money as if we all have the money to just go out and spend.
    I don't know much about economics, but I do have to agree with the line "it's like telling someone to loose weight by eating more donuts." sums that up pretty well.
     
  12. Buttercup

    Buttercup Veteran Member

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    One point Fred made that rings very true is that Americans are not saving money like we used to. The math equation is simple....if you don't save money, when an emergency comes up you have to use credit to fix the problem. I can remember hearing several years ago the alarm from economists that we were saving far too little and spending too much. Just a quick search around the net brought up multitudes of stories about the need for Americans to save. That's a part of the problem.

    http://beta.asoundstrategy.com/sitemaster/userUploads/site156/CathyCallahan.pdf

    Survey: Americans Not Saving Enough
     
  13. Sunstone

    Sunstone De Diablo Del Fora
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    By chance, do you think Fred Thompson knows what he's talking about? Just curious.


    I'm genuinely not trying to be sarcastic here. I just want to understand why you think -- even for a moment -- that dealing with a multi-trillion dollar national economy can be reduced to a weight loss program -- or at best a household budget? Are you going solely on what you heard Thompson say in the video? Or do you know something you have yet to mention?
     
  14. Sunstone

    Sunstone De Diablo Del Fora
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    Do you think Americans should save more at this time, given the recession we're in? Just curious.
     
  15. Sunstone

    Sunstone De Diablo Del Fora
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    On what rational grounds do you assume you are right?
     
  16. Sunstone

    Sunstone De Diablo Del Fora
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    I'm not familiar with the term "Dumbocrats", Paul. Is there some chance you are referring to those interesting souls who are simply too dumb to realize they know nothing about economics? Or perhaps you are referring to those interesting souls who are so dumb they actually "think" Fred Thompson knows something about economics? Could you clarify which group is dumber?
     
  17. Sunstone

    Sunstone De Diablo Del Fora
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    Then let's humor him by applauding what a wonderful actor he is, Patty. He's probably such a good actor that he might even be capable of convincing otherwise sane people he knows what he's talking about.
     
    #17 Sunstone, Jan 11, 2009
    Last edited: Jan 11, 2009
  18. Shadow Wolf

    Shadow Wolf Crazy Diamond

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    It was a line he used in that video. He was saying when he was explaining the "spend more" to someone, and they responded with the donut line.

    After doing a quick search for his credentials, it doesn't look like it. Also, the way he was talking made me think he was trying to persuade people into a method that would benefit him, but not everybody else.
     
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  19. Sunstone

    Sunstone De Diablo Del Fora
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    Thank you so much for answering my questions. You deserve more than frubals for your honesty, my friend -- you deserve my admiration too.
     
  20. YmirGF

    YmirGF Bodhisattva

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    Actually, I am echoing statements made by two local fellows by the names of Michael Levy and Michael Campbell, whom I greatly admire. It is simply meant as an observation after listening to economists, financial gurus, professors etc for months now. The bottom line is an educated guess that the current financial plans will stimulate the economy; however it is not clear if they will be enough to generate a lasting effect. Don't forget that there is still the looming CDS fiasco lurking in the background. When those chickens come home to roost they could ruin the best laid plans.


    No doubt your analysis is vastly superior to my own, so, would you say that we are in good hands (in regards to the current crop of financial wizards), or no?

    Oh, the reference to 'Dumbocrats' was a veiled reference to members of the Democratic Party, supporters and related ilk.
     
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