effect of No vote on Bailout

The most significant effect will be the total loss of Epic and DD's entire WaMu holdings in the VSE game.
 
Watermark said:
That's not true Dano. The fact is, we need to stop the dominoes from falling. We will go into a recession but it will be a lot less severe. Sweden never had any "bounceback" recession after they bailed out their banks. Are you saying that they'd have even greater growth than the tremendous growth they've had if they would've just went the way of Japan? Purely delusional.
Click to expand...
You are delusional, I've posted that link to Japan MANY times and as I keep telling you Japan DID have a bailout:

"Japan also gave its economy a big fiscal boost. The cyclically adjusted budget deficit (which excludes the automatic impact of slower growth on tax revenues) increased by an annual average of 1.8% of GDP in 1992 and 1993—similar to America’s budget boost this year. Japan’s monetary and fiscal stimulus did help to lift the economy. After a recession in 1993-94, GDP was growing at an annual rate of around 2.5% by 1995. But deflation also emerged that year, pushing up real interest rates and increasing the real burden of debt. It was from here on that Japan made its biggest policy mistakes. In 1997 the government raised its consumption tax to try to slim its budget deficit. And with interest rates close to zero, the BoJ insisted that there was nothing more it could do. Only much later did it start to print lots of money."
http://www.economist.com/finance/displaystory.cfm?story_id=11964819

Our situation has far more in common with Japan than Sweden.
 
KingCondanomation said:
You are delusional, I've posted that link to Japan MANY times and as I keep telling you Japan DID have a bailout:

"Japan also gave its economy a big fiscal boost. The cyclically adjusted budget deficit (which excludes the automatic impact of slower growth on tax revenues) increased by an annual average of 1.8% of GDP in 1992 and 1993—similar to America’s budget boost this year. Japan’s monetary and fiscal stimulus did help to lift the economy. After a recession in 1993-94, GDP was growing at an annual rate of around 2.5% by 1995. But deflation also emerged that year, pushing up real interest rates and increasing the real burden of debt. It was from here on that Japan made its biggest policy mistakes. In 1997 the government raised its consumption tax to try to slim its budget deficit. And with interest rates close to zero, the BoJ insisted that there was nothing more it could do. Only much later did it start to print lots of money."
http://www.economist.com/finance/displaystory.cfm?story_id=11964819

Our situation has far more in common with Japan than Sweden.
Click to expand...

Sure Japan played with interest rates, Dano.

That wasn't enough. What would have prevented the lost decade would be direct government intervention in the economy.
 
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