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Old 11-17-2012, 12:27 AM #43
benji25
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Quote:
Originally Posted by drgonzo View Post
If we "keep bailing people out" when's the last time it happened? Oh yeah, never.
So you are saying this bailout you linked to is a one time thing? What happens in 10 years when poor financial planning leaves people where they are now? They will ***** for another bail out.
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Old 11-17-2012, 01:21 AM #44
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benji explain to me how people were expected to know that in 2008 the central bank would let NGDP crash for the first time in decades.
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Old 11-17-2012, 02:02 AM #45
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Quote:
Originally Posted by benji25 View Post
So you are saying this bailout you linked to is a one time thing? What happens in 10 years when poor financial planning leaves people where they are now? They will ***** for another bail out.
You don't get to ask for a bailout by this program, not now or ever. It's identical to you defaulting on debt and a collection company buying it and ****ing with you, except you get lucky and get your debt forgiven. If that happens to you, you are thankful. Your credit is still ****ed.

You're just making up **** to try to make a bull**** moralistic stand.
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Old 11-17-2012, 10:29 AM #46
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Quote:
Originally Posted by benji25 View Post
So you are saying this bailout you linked to is a one time thing? What happens in 10 years when poor financial planning leaves people where they are now? They will ***** for another bail out.
slippery slope fallacy bro
http://www.fallacyfiles.org/slipslop.html
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Old 11-17-2012, 12:52 PM #47
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Originally Posted by licence2kill View Post
benji explain to me how people were expected to know that in 2008 the central bank would let NGDP crash for the first time in decades.
Maybe there was no way for them to know but that doesn't change the fact they had debts they couldn't handle.

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Originally Posted by drgonzo View Post
You don't get to ask for a bailout by this program, not now or ever. It's identical to you defaulting on debt and a collection company buying it and <del>****</del>ing with you, except you get lucky and get your debt forgiven. If that happens to you, you are thankful. Your credit is still <del>****</del>ed.

You're just making up <del>****</del> to try to make a bull<del>****</del> moralistic stand.
And as I said I would support this program (and probably donate too) if it was guaranteed that people would learn form their mistakes. The root of the problem is not that they are in debt, it is poor financial planning.

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Except "A" (being in debt) is already exemplified so there is nothing to "slip to" because the behavior is already exhibited, it is a question of if they return to it or not.
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Old 11-17-2012, 10:43 PM #48
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My argument is thus:

1) if NGDP hadn't crashed there would have been no need to bail out any banks or homeowners

2) The NGDP crash pushed a lot of people who otherwise would have been able to sustain their debts into default

3) Since the central bank still has not restored us back to our pre-crisis NGDP growth trend we should assist these people directly

4) Seeing as the banks got bailed out it's only fair we bail out the counter parties in their toxic asset transactions.
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Old 11-18-2012, 01:44 PM #49
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Quote:
Originally Posted by licence2kill View Post
My argument is thus:

1) if NGDP hadn't crashed there would have been no need to bail out any banks or homeowners

2) The NGDP crash pushed a lot of people who otherwise would have been able to sustain their debts into default

3) Since the central bank still has not restored us back to our pre-crisis NGDP growth trend we should assist these people directly

4) Seeing as the banks got bailed out it's only fair we bail out the counter parties in their toxic asset transactions.
Explain that one. And if you say "people lost their jobs" that won't fly because everyone should have some sort of safety fund or back-up plan to cover them for a while and if they can't find a new job in that amount of time maybe they should get new skills.
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Old 11-18-2012, 07:31 PM #50
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why would someone plan for a depression?
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Old 11-18-2012, 09:15 PM #51
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Originally Posted by licence2kill View Post
why would someone plan for a depression?
Because they can happen? Because it is smart to have several months of emergency funds saved up for whatever reason?

It is always smart to plan for the bad times during the good times.
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