[Deucaon]

But our money isn't backed by gold or anything anymore anyway. Fort Knox doesn't really have much to do with the fact that our currency is pretty much virtual.

My point was that America has the gold standard to fall back on if there is an economic collapse but I understand what you mean. You know your country's economy is in the crapper when [group 1] owes money to [group 2] who owes money to [group 3] who owes money to [group 1] and so on. Then there's America's military expenditure that has so far been a catastrophe (scud missiles and stealth bombers are as expensive as they are inaccurate) and the increase in taxes by 30% since the 1980s.

[J m HofMarN]

The US' war debt is largely self contained and directed at US corporations like Northrop Grumman and MacDonnel Douglas, etc. They have no reason to want to call a bluff, because they'd be just as screwed as anyone if the government couldn't pay up.

Also, bailout defeated. Economy ROFLSPLODES.

[Ninja Duck]

Deucaon: Why would that be a bad thing? If you're in debt to someone, that means they have a vested interest to see that you do well, so you can eventually pay off that debt.

How about everyone in the world just chips in $10 to pay for the bailout? Surely we can all spare that much?

[Deucaon]

Deucaon: Why would that be a bad thing? If you're in debt to someone, that means they have a vested interest to see that you do well, so you can eventually pay off that debt.

I already figured that a bank wouldn't want one of its customers to declare bankruptcy but I fail to see how the bank could help its customer "do well, so [they] can eventually pay off [their] debt."

[Spoon Poetic]

Yeah this particular plan was defeated. But there will be more.
And I'm guessing they're all gonna suck.

[J m HofMarN]

The solution to this thing for me is to create a government housing initiative that will pay off peoples mortgages and not charge people any interest. That way home ownership rises and the problem is being solved from the ground up, rather than in a reaganomical fashion.

[Slade]

Vote proposition 24, J Mutual!

[BigStupidDogFacedArse]

The Bailout should be defeated, I'm happy with the outcome. Financial Institutions that practice shoddy business deserve to fold (los of liquidity and/or hikes in interest rates while having too many loans). By bailing them out, it means the richest most powerful firms are virtually untouchable. They can over lend, over invest, without culpabilty. It's better to take the hit now, and not risk inflating our dollar down the line. After all, it's your money that's bailing them out. Maybe not in taxes but in overall value.

[Deucaon]

The Bailout should be defeated, I'm happy with the outcome. Financial Institutions that practice shoddy business deserve to fold (los of liquidity and/or hikes in interest rates while having too many loans). By bailing them out, it means the richest most powerful firms are virtually untouchable. They can over lend, over invest, without culpabilty. It's better to take the hit now, and not risk inflating our dollar down the line. After all, it's your money that's bailing them out. Maybe not in taxes but in overall value.

What if the government nationalizes the firm/s and locks up those responsible?

[Icey]

But that's socialism!

[J m HofMarN]

squeeeee!

[Deucaon]

But that's socialism!

Because you nationalize a few firms until the problem is solved? That's crazy. Its a government's civic duty to make sure that employees and their families are protected from the careless actions or greedy intentions of employers and loan sharks.

And its not Socialism unless the ruling class forces 90% of the population to work (while it lives in luxury) for next to nothing while it sends all dissidents (which would include people who refuse to work) to concentration camps so they can be brainwashed, shot or starved.

[Ninja Duck]

I already figured that a bank wouldn't want one of its customers to declare bankruptcy but I fail to see how the bank could help its customer "do well, so [they] can eventually pay off [their] debt."

I was still talking about national debt.

Also, quit copying and pasting from the Socialist Party's platform.

[J m HofMarN]

Because you nationalize a few firms until the problem is solved? That's crazy. Its a government's civic duty to make sure that employees and their families are protected from the careless actions or greedy intentions of employers and loan sharks.

Yes, nationalizing industry is a tenet of socialism. And no, the US government has no duty to protect the proletariat. That, once again, is something a socialist government would be better for.

And its not Socialism unless the ruling class forces 90% of the population to work (while it lives in luxury) for next to nothing while it sends all dissidents (which would include people who refuse to work) to concentration camps so they can be brainwashed, shot or starved.

No, thats an ignorant stereotype associated with Communism. Socialism is a far more accepted form of communism and you'll see examples of it in pretty much every industrialized nation except the US.

[Deucaon]

Yes, nationalizing industry is a tenet of socialism. And no, the US government has no duty to protect the proletariat. That, once again, is something a socialist government would be better for.

Nationalization was around long before Communism, Socialism or Marx. Back then it was called confiscation... they probably changed it to "nationalization" because it sounds better.

No, thats an ignorant stereotype associated with Communism.

What is Communism if not ignorance and oversimplification?

Socialism is a far more accepted form of communism and you'll see examples of it in pretty much every industrialized nation except the US.

Like... China?

Name me one state which practises Socialism (i.e. where every factory, farm and firm is technically owned by all the people that work there) and isn't like I described earlier.