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2uk
25th September 2008, 10:05
In his latest address to the American people the US president has announced that the financial system in the US faces imminent collapse if 700 billion is not injected in the system by the government purchasing sunken mortgage-backed securities ?

Note that the 700 billion comes from tax payers money .... ie. The government will use tax money to let Americans continue borrowing money ... sounds insane..

NoddY
25th September 2008, 10:13
In his latest address to the American people the US president has announced that the financial system in the US faces imminent collapse if 700 billion is not injected in the system by the government purchasing sunken mortgage-backed securities ?

Note that the 700 billion comes from tax payers money .... ie. The government will use tax money to let Americans continue borrowing money ... sounds insane..

As predicted by Karl Marx.

HairyArsedBloke
25th September 2008, 10:28
Note that the 700 billion comes from tax payers money .

It gets worse. That 700billion to be paid by the US tax payer to be borrowed from the Chinese who have loads of dollars earned from the US people by selling them stuff that could have been made in the US by US employees. So the US taxpayer is paying even more money to people that have already constrained their income.

Sounds like a recipe for resentment to me.

DaveB
25th September 2008, 11:06
Once the Chinese get their state banking operations moving they are giong to end up owning most of the US financial houses.

Paddy
25th September 2008, 11:23
Once the Chinese get their state banking operations moving they are giong to end up owning most of the US financial houses.

What's Wong with that?

HairyArsedBloke
25th September 2008, 11:34
What's Wong with that?

Wu is the President of China these days.

ChimpMaster
25th September 2008, 11:41
Wu is the President of China these days.

I was in the Chinese the other day having a lovely bowl of noodles when <shock> I see 2 eyes staring out at me from within the bowl.
It was the peeking duck.

TimberWolf
25th September 2008, 12:09
I was in the Chinese the other day having a lovely bowl of noodles when <shock> I see 2 eyes staring out at me from within the bowl.
It was the peeking duck.

That's because you asked for supplies :laugh

gingerjedi
25th September 2008, 12:15
It gets worse. That 700billion to be paid by the US tax payer to be borrowed from the Chinese who have loads of dollars earned from the US people by selling them stuff that could have been made in the US by US employees. So the US taxpayer is paying even more money to people that have already constrained their income.

Sounds like a recipe for resentment to me.

:spel better