Obama shouldn't be reelected.

[Ronith]

If the banks failed America would fail. Banks fund, small business, large business, government, households - everything.

Individuals/corporations would be borrowing from overseas (and even moving overseas 100x quicker than they are now - which means loss of jobs as well) which means cash-flow will be flowing out of the US constantly (good for other countries, terrible for the US). I'm not 100% how the economics works but it would significantly effect your $ and it would mean households would suffer greatly. Its not a pretty picture imo.

You make it sound like every single bank failed. It didn't. There were plenty of huge banks that didn't need bailouts(NOTa bridge loan.)
==

First, if banks were making loans that did not get paid back, then they were not doing their primary job which is to make good credit decisions. Bad credit decisions should be punished, and the owners and operators of such companies should be fired and/or wiped out. This is how markets work. Rewarding such behavior only encourages more bad practices in the future, and people (rightly) start to wonder why we have a financial system at all.

Second, if banks fail, that contraction in private financial asset growth can be balanced by “capitalizing” the rest of the non-Governmental sector directly (through some combination of tax cuts and spending increases — whatever increases the deficit). Since economists at Harvard and Princeton do not understand that the Government is the sole creator of net financial assets (equity) for the private sector, they do not know that this policy lever is on the table. So we are where we are.”

(you need an account to see links)

[Chi]

You make it sound like every single bank failed. It didn't. There were plenty of huge banks that didn't need bailouts(NOTa bridge loan.)
==

First, if banks were making loans that did not get paid back, then they were not doing their primary job which is to make good credit decisions. Bad credit decisions should be punished, and the owners and operators of such companies should be fired and/or wiped out. This is how markets work. Rewarding such behavior only encourages more bad practices in the future, and people (rightly) start to wonder why we have a financial system at all.

Second, if banks fail, that contraction in private financial asset growth can be balanced by “capitalizing” the rest of the non-Governmental sector directly (through some combination of tax cuts and spending increases — whatever increases the deficit). Since economists at Harvard and Princeton do not understand that the Government is the sole creator of net financial assets (equity) for the private sector, they do not know that this policy lever is on the table. So we are where we are.”

(you need an account to see links)

That's fair enough, I have a feeling they didn't want the banks to die because they wanted to keep the market competitive. In Australia there is a problem with having 4 big banks controlling the market and controlling interest rates (its why our dollar is so strong, and the house market is ridiculously overpriced for young Australians). Even though the government lowers interest rates the banks never pass on the reduction in full (only by a 1/4 of a percent for example)

[Narkotiq]

I hate Obama too but look at the alternative. I hate all of the main candidates. If I had to pick anyone to be in office I'd have to say Ron Paul but even then I dont feel too strongly about that either. Lets face it, these days it doesn't matter what we vote, they're all gonna fuck us.

[Becka]

I guess you're right Chi, so he pretty much told these soldiers they are allowed to risk their lives to save america or w/e.

[Chi]

I hate Obama too but look at the alternative. I hate all of the main candidates. If I had to pick anyone to be in office I'd have to say Ron Paul but even then I dont feel too strongly about that either. Lets face it, these days it doesn't matter what we vote, they're all gonna fuck us.

The problem I see with American politics from an outsider perspective is that you have no other party that has the chance to compete on even playing fields. Americans make politics a popularity contest, with all the rallies, parties and events. Makes the policy seem second place and the loyalty to a particular party seem more important.

[Azn]

Lol he sounds worse than George Bush.

Not worst than Bush. Bush accumulated to over 200k jobs lost each month.

Also, @(you need an account to see links), you didn't mention that under Obama, there's been a net of 100k+ jobs created each month.
NABE predicts that it will actually be 188k per month this year.

But I want to bring up an interesting discussion question.
Who do you think will win? (Despite who you want to win)

[Becka]

Not worst than Bush. Bush accumulated to over 200k jobs lost each month.

Also, @(you need an account to see links), you didn't mention that under Obama, there's been a net of 100k+ jobs created each month.
NABE predicts that it will actually be 188k per month this year.

But I want to bring up an interesting discussion question.
Who do you think will win? (Despite who you want to win)

Australians know nothing about the political government in America :C

[Narkotiq]

The problem I see with American politics from an outsider perspective is that you have no other party that has the chance to compete on even playing fields. Americans make politics a popularity contest, with all the rallies, parties and events. Makes the policy seem second place and the loyalty to a particular party seem more important.

I totally agree, a lot of the politicians I agree with are green party or other. They stand no chance in the election because they aren't the major Democratic or Republican party.

[Azn]

Oh it was a general question to everyone. Sorry, I quoted you but I meant to ask everyone that question.

[Ronith]

Not worst than Bush. Bush accumulated to over 200k jobs lost each month.

Also, @(you need an account to see links), you didn't mention that under Obama, there's been a net of 100k+ jobs created each month.
NABE predicts that it will actually be 188k per month this year.

But I want to bring up an interesting discussion question.
Who do you think will win? (Despite who you want to win)

But what jobs did he create? How many factories in the USA have closed down under Obama. Nothing is being made in the USA anymore. And it very reapidly becoming a stage 4 production country. There is no incentive to create a factory in the USA with such insane regulations...

When he fucked up GM and Chrysler, over 200k+ jobs vanished.

Also, who do I think will win? Probably Obama, because of uneducated voters...Sad truth.