[lbo-talk] Jon Stewart's bailout idea

Philip Pilkington pilkingtonphil at gmail.com
Fri Jan 30 20:16:37 PST 2009


On Sat, Jan 31, 2009 at 3:57 AM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:


> > why isn't it a good idea?
>
> C'mon, you've been paying attention, right? The size of the US mortgage
> market is how big? Ok, I'll tell you: it's at least $10T. What's the
> size of unsecured consumer credit in the US? At least $3T?
>
> So you think the bailout should be an order of magnitude or more larger
> than the one being proposed?
>

Oh, not at all... If I'm to be honest I think that you guys have fucked yourselves in the ass... I think that you've built up a structure wherein the lower-classes are able to sustain themselves by purchasing crappy products; while the buorgeiosie is able to maintain its profit level through speculation.

Now that's a serious problem, its terribly imbalanced... so what in God's name do you do?

Well, interesting question?

Bailout? Its not going to work in the long run... I'd be very nervous...



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