"bailing out" the economy

[Satsumomo]

Jesus Christ, that is priceless. I didn't hear about it at all. It's something I'd expect from Paraguay, not from the U.S.

[ShinobiKage]

You can't help, but most of America is in debt. Plus I didn't even get the full 600, or else I would get a PS3 and tires.

[Satsumomo]

So? Giving $600 to someone in debt isn't going to do anything. It's too low of an amount, and that money came from taxes, so basically they just gave you back some money you had already made.

The U.S. has always been known as a nation of debt, "if you don't owe anything, you don't own anything!" it was bound to happen that the banks were going to bottom out.

When I worked at Discover Financial, I was amazed at how laid back they were on giving credits, however I was even MORE amazed at how other banks were even MORE laid back!

[ShinobiKage]

Well, America has debt, but I realize as long as other countries debt overall is greater, we would still be alright in the long run.

I applied to about a dozen credit card companies for free stuff, and I was suprised at how many credit cards I got in the mail. I simply cut them up.

[Ulyana]

Global Politics in 30 Seconds:

[YOUTUBE]http://www.youtube.com/watch?v=Hf-xePlM-zg[/YOUTUBE]

[ShinobiKage]

Wait, he ate South America, and gave birth to 3 Mexicos?

[Satsumomo]

Well, America has debt, but I realize as long as other countries debt overall is greater, we would still be alright in the long run.

I applied to about a dozen credit card companies for free stuff, and I was suprised at how many credit cards I got in the mail. I simply cut them up.

You got it wrong, the problem with America is that it's citizens are in debt. In Mexico, there is national debt but not the citizens.

[pyrofyr]

They would have been better off using it on a Public Works Project.

[ShinobiKage]

You got it wrong, the problem with America is that it's citizens are in debt. In Mexico, there is national debt but not the citizens.

Really? I thought it was natural for people to be in debt everywhere. To buy a house or a car, there's always a debt to be paid. So People in Mexico don't use credit cards?

I've grown up in a society, where everything is usually bought with other people's money. From this point of view, there will always be people in debt. It's always been socially acceptable to try to make others around you jealous of what you have. So in order to do that, you need to buy expensive things. That's were loans come in, everyone's always trying to buy bigger houses, cars that they can't really afford, so they take out loans.

[Satsumomo]

Ok, what I meant is that an insane amount of Americans are in debt that they cannot pay, and that they pretty much owe everything they own, aka spending more than they can actually afford. Yes, we do have debts, but repossessions are rare.