[benji25]

Originally Posted by drgonzo

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.

[licence2kill]

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.

[drgonzo]

Originally Posted by benji25

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.

[TheSilentAssassin]

Originally Posted by benji25

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

[benji25]

Originally Posted by licence2kill

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.

Originally Posted by drgonzo

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.

Originally Posted by TheSilentAssassin

slippery slope fallacy bro
http://www.fallacyfiles.org/slipslop.html

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.

[licence2kill]

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.

[benji25]

Originally Posted by licence2kill

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.

[licence2kill]

why would someone plan for a depression?

[benji25]

Originally Posted by licence2kill

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.