US Bailout Bill Rejected

[Gopher]

What's gonna happen now?  

[Russ]

The worlds going to end. The bailout for the rich while the people that are losing their houses get nothing.. maybe something will be learned?

Hows it going Gopher?
 

[Sportsdude]

I go back to missouri, or I move to California or Washington and claim residence after a few months, thus avoiding never having to go back to Missouri.  

[Van]

Sportsdude wrote:
I go back to missouri, or I move to California or Washington and claim residence after a few months, thus avoiding never having to go back to Missouri.  
  confused?? If you are American, why would you need to claim residence in Cali or Washington? Why would you totally avoid Missouri? Don't you have family there? Family is more important than state boundaries (to me anyways).

[Sportsdude]

    I cannot physically live in the Midwest without throwing up. It's not a health place, I don't need to live in fear and state has a tendency to be vicious toward the minority. It's a very mob ruled state.

In order to pay in-state tuition fees, I have to establish residence in a state for at least 6 months in most places in the US (to become a resident of that state). If I don't, I pay out of state tuition fees which are more expensive (usually 300-500%) more then going to school at UBC. UBC is like the cheap out of state school for me and its cheaper then going private or out of state in the US. (except for Uni of Kansas for some reason).

I live on a border town, if I wanted to go to school in Illinois it would cost me 300% more to go as a resident of Missouri than if I was living on the 'other side of the river'.

If I move back to the states, It's only going to be on the west coast. Rest of the country is 'no joy in mudville'.

     

[Russ]

I still find that amazing.. I remember being told that its super expensive at ubc for foreign students. But then again that was a while ago, and I never did have any reference figures.

Also surprised about that six month rule, but it does make sense?
 

[Sportsdude]

Living and going to school here in Vancouver is cheaper than every out of state public school that I'd go to and much cheaper than any private school.
Yeah to become a resident in another state its 6-months. I bet its the same for Canadian provinces.

If you're from another country, you'd probably find UBC international tuition expensive. Americans, dirty cheap baby! lol

 

[Lise]

Didn't the stock plummet quite a bit? Why wouldn't they pass the bill? Wouldn't it save the economy?

[Van]

From what I understand, there was no guarantee that it would work anyways Lise. That is a lot of taxpayers $$ to gamble with. A lot of analysts figure it would have only helped the players on Wall Street too, and not regular Joe American.

It never made sense to me anyways, the world has been in too much debt, getting in way over their heads. Then using one type of credit to pay off another, then asking the government for another massive debt to bail out another debt? It has to end somewhere.

Let the free market reign, or fall.  

I think the safest place to keep your money these days is in recreational property, and the rest in a vault in your own house.  

[Van]

Sportsdude wrote:
    I cannot physically live in the Midwest without throwing up. It's not a health place, I don't need to live in fear and state has a tendency to be vicious toward the minority. It's a very mob ruled state.
  Not live, but you would still go back to visit no? Isn't your mom there?

[Sportsdude]

live doesn't mean no to visiting.

This crisis has nothing to do with the stock market, its about banks. Once people can't get credit or a loan, then they'll feel sorry. Then there's the typical stupid American response of 'why should I pay for my neighbours debt' because if your neighbours house gets foreclosed, your house and your neighbourhood loses its value. Then since the American school system is based on property taxes, the rich neighbourhood schools in the suburbs become like the schools in the inner city of our cities.

Free Market system is a 5 year old. It needs to be told what to do, it has to have strict rules and must be controlled. You don't give a 5 year old keys to the car and say "drive me home". Free Market systems can't control themselves, they can't look after themselves and this idea that they could was ridiculous.


 

[Van]

So what will be the lesson?

  How about...NOT give a $400,000 mortgage to a kid that works at McDonalds maybe??

[Russ]

I agree.
IT will teach some for a little while then like 12 years olds they will forget and this will happen again in another 40 years or so.
Let it cure itself.. once its over make sure theres some rules in it as what is mentioned free market cant control itself. I find it amusing on the other sites im on they keep bringing canada and our socialist communist controlled markets cause they arent free... and that we would bail out our economy if it was needed. I do think there needs to be checks and balances.. as well as salary caps for ceo's. One think to remember, when the market dumps, the money that was in it doesnt just puff into thin air.. its gone somehwere.

There is a certain amount of time yu have to be in a province SD.. to get a student loan. However if you come from anotehr province you get the local rate for schooling. I dont know how long that is though, i have friends from untario, and they are working construction waiting until they qualify here for a student loan to go back to school.
 

[Sportsdude]

Ah, I see.

Lesson is that the free market can't police itself (as the case has been made for the past 30 years) (deregulation doesn't work), Banks can't get give out loans like candy. American economy can't run on bubbles like tech and housing. "American capitalism", is dead. The cowboy smoked too many Marlboro's and died.

And on a global scale, I think we've seen the end of neo-liberalism. It has for the most part died a spectacular death the past month. 30 years of an economic theory started with Reagan and Thatcher died. lol Time to party.

 

[Lise]

I have tons of gold bar that's hidden under my bed and that's where they're staying. *clicking shotgun in the background*