What is Digg?73 Comments
- richardweaver, on 03/13/2009, -1/+44Overall point: the bailouts cost a heck of a lot of money.
I need someone to explain to me why I should pay for the bailout of a failed company?
Someone.
Please? - hagerman, on 03/14/2009, -0/+18Mirror:
http://rorr.im - eastwood24, on 03/13/2009, -0/+17Dugg for infographics
- astrixx, on 03/13/2009, -4/+20This left me more confused.
- ileftfark, on 03/14/2009, -0/+15Here's a visual depiction of the state of finance- :'(
- inactive, on 03/13/2009, -1/+12I am Libertarian I don't approve of the bail/stimulus out but I understand it.
AIG - Insures the banks and millions of retirement plans that would be lost.
Banks- Have your money if they go under you loses it!!!
If AIG goes under they can’t bail out the companies that are in trouble more companies go under more unemployment worse economy blah blah blah.
This problem does need a solution but that is not spending. They could have change the 30 year mortgages to 50 year thus making the payments smaller and lower the interest rate. We should have fixed the cause the side affects.
BTW for $1.6 trillion (Bailout/ stimulus total) you could have brought all the foreclosed homes in America and not only fixed the problem people would have boat loads of money to stimulate the economy. - drmangrum, on 03/14/2009, -2/+12Broad, sweeping generalizations are the tool of the idiot.
- dudestuff, on 03/14/2009, -0/+10That google SketchUp one is ***** INSANE.
http://www.pagetutor.com/trillion/index.html - WonderBoy55, on 03/14/2009, -0/+8The animation video helped me
- SuburbianMike, on 03/14/2009, -1/+9That Crisis of Credit Visualized by Jonathan Jarvis was a really good video. Really helped me out.
- inactive, on 03/13/2009, -1/+7Can these guys be the transparency czars?
- Blobster2005, on 03/14/2009, -0/+6direct link to the vid - http://vimeo.com/3261363?pg=embed&sec=&hd= ...
- inactive, on 03/13/2009, -4/+9In summery government made a mess and now they are making a bigger mess to “clean it up”.
/Stupidity - inactive, on 03/14/2009, -0/+5Recession? I'm not participating.
- Nlewis4, on 03/14/2009, -0/+5anyone got a mirror
- Praystation, on 03/14/2009, -0/+5Isn't me eating cornflakes for dinner on a friday night a good visualisation?
- Krnballerzzz, on 03/14/2009, -0/+526 more than required...
- Aurabolt, on 03/14/2009, -0/+5comic sans can suck my nuts
- Maynza, on 03/14/2009, -0/+5I want a ***** pie graph.
- Alphabet, on 03/14/2009, -1/+5questionqqq is a troll. You can tell from his comment history. Don't bother with him.
- zeblith, on 03/14/2009, -2/+6You're kidding me. FIFTY-YEAR MORTGAGES? That's basically renting. You'd have to make it all the way to the age of 70 (assuming you're around my age when you buy your place - I sure as hell know I'm not ready to charge head-first into homeownership) just to pay your place off, if you live that long and don't rack up huge medical bills, much less probably needing to WORK during that whole time!
Besides, the last 10 years of a 30-year mortgage is almost entirely interest already.
30-year mortgages are part of the problem. If you need 30 years to pay a place off, you probably shouldn't be living there. Just a thought. - Bologner, on 03/14/2009, -2/+6This...... Didn't help at all.
- zaffir, on 03/14/2009, -1/+5Banks have your money, but when you're talking about deposits, that money is FEDERALLY insured. If they go under, the government pays you- up to what is now $250k. The bailout isn't about you losing the money in your savings account. It's about keeping the banks alive so they can lend; companies need to borrow money to do business, no money to borrow (banks go under), no money to pay more employees to make more things to sell to people.
- jamesdew, on 03/14/2009, -0/+4Agreed that one was very informative and easy to understand
- christopherRB, on 03/13/2009, -5/+8Keep worrying... That's all we need in this recession.
- AbsurdParadox, on 03/14/2009, -0/+3Don't worry. Ignorance is bliss.
- Trebis, on 03/14/2009, -3/+6Did you read any of those? It's the greedy lending organizations that made this mess, not the government.
- greevar, on 03/14/2009, -1/+4I know I'm going to catch hell from the Capitalists and "Free Market" zealots, but I have to say that privatized banks are a dangerous to any economy. They lack any form of social ethics. They want nothing more than to make huge profits even if that means screwing everyone else over to get it. It's no surprise that the financial institutions fell on their faces when they were all in this circle jerk together and we're the pivot man! We've all been had. The banks loan money that doesn't exist to people that can't pay them back and charge interest on this non-existent money. Then, they sell these volatile loans to pass off the risk. Loans start to default and the whole system falls apart.
It would be far better to nationalize the banks and give loans to people interest free. That would stop inflation dead in it's tracks. The profit incentive to screw people over would be gone. Now, I know what you're going to say, "WTF? Are you crazy? Giving money away for free?" It's not free money. You still have to pay it back one way or another. What is happening now is that you can time-shift your income so that you can make a large purchase now instead of saving it up for years. Instead of paying interest, you pay taxes to fund the banks and it doesn't inflate our currency in the process.
So there's my $0.02. Flame me till I'm crispy and bury me deep. - cpw2n5, on 03/14/2009, -4/+7Anyone else think we should go back to a gold standard? or some kind of metal standard?
- mytealjacket, on 03/14/2009, -0/+3It's nice to see people actually care about figuring out what is going on. I have friends who are totally oblivious.
- porkins21, on 03/14/2009, -0/+3Ha. Like cleaning up an oil spill in the ocean with more oil. Man the government sucks.
- AbsurdParadox, on 03/14/2009, -1/+4Yeah, I thought thats the best one. I wish it went more into how none of this would have happened if it weren;t for the federal reserve, though.
- AbsurdParadox, on 03/14/2009, -1/+4If you think that, you need to look at them again.
(Hint: Federal Reserve) - 4verageJo3, on 03/14/2009, -0/+3Goes to show that pretty pictures don't always tell an accurate story. Too many of these were compiled by inexpert, non-economists who don't have a clue about what's really going on. Example: the graphic blaming the Iraq war, which while being directly and substantially related to the size of the deficit (and therefore, the debt) is only very tangentially related to the larger financial crisis.
In point of fact, the current economic crisis is due largely to two things: the (mostly Democratic) efforts over the past twenty years to encourage irresponsible lending as a wealth redistribution strategy, and the various and sundry (largely bipartisan) efforts at deregulating the financial industry. Both of these were done without adequate attention to the likely effects--and costs--of having done them.
Irresponsible lending practices encouraged (and in some cases, mandated) by the federal government precipitated this crisis, and deregulated financial instruments (particularly credit debit swaps) magnified the impact of the subprime mortgage meltdown on our financial institutions beyond belief. Now, however, the damage is done, and we need to get on with the business of rebuilding our economy. Blaming each other won't help, and media fearmongering is positively counterproductive.
Let's get to work. - greevar, on 03/14/2009, -0/+2Inflation will continue to increase because banks loan money that doesn't exist. Most people believe that the bank loans the money from its depositors. This is simply not true. Every time they loan money out, they conjure up more money. This, in turn, increases the money supply and inflates our money. Take a look at "Money as Debt" if you need more convincing. http://tinyurl.com/moneyasdebtvideo
- dyangu, on 03/14/2009, -0/+2Why should I pay for schools when I don't have kids? Why should my taxes go to food vouchers for people I don't know? Because we're a society and we're in this together.
If we don't bail out AIG and banks, we still have to pay back people who deposited at those failed banks. Or do you libertarians believe that people should have known better than to deposit their money at places like WaMu and deserve to lose their savings? - 4verageJo3, on 03/14/2009, -0/+2I digg it! (the graphic, that is)
- Ognus, on 03/14/2009, -1/+3Why does the state of finance have half a mustache?
- jjamminjon, on 03/14/2009, -2/+4Dugg for giving into MrBabyMan's relentless assault upon Digg....
- pradaaddict, on 03/14/2009, -1/+3These are all from good.is I recommend checking it out, they have a lot of great facts and infographics that are entertaining and hard hitting.
good.is - Ognus, on 03/14/2009, -0/+1Thats so metal.
It's a lack of standards in general we need to start worrying about. I knew when Enron went down that it was just the tip of the iceberg. - inactive, on 03/20/2009, -0/+1For those of you who failed to get the point, YOU'RE SCREWED!
- Catspaw, on 03/20/2009, -0/+1To understand the financial crisis and why it is going to get much worse, watch The Obama Deception http://www.youtube.com/watch?v=eAaQNACwaLw
It provides a far better 'visualization' than the article. - inactive, on 03/15/2009, -0/+1MTV normally says/implies quite the opposite, at least recently.
- Ognus, on 03/14/2009, -0/+1A left butt check? Is that a check his butt cant cash? :)
- MachThree, on 03/14/2009, -1/+2The real problem is the Federal Reserve printing money and loaning it to banks at artificially low interest banks. If the Fed was done away with, interest rates would never be artificially low or high, but rather where the market says they should be. Inflation would also cease because our money supply would not increase.
If you want to do something about this, support HR 1207. - inactive, on 03/15/2009, -0/+1Yeah but not too the same extent. It is 10x worst for the US.
- inactive, on 03/15/2009, -0/+1With (roughly) the same policies as our last pres? I don't think so.
- inactive, on 03/14/2009, -0/+1I'm just, glad it's your(US) problem not ours(Australia)
- inactive, on 03/15/2009, -0/+1It's a depression.
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