$700bn Bailout is shot down by House of Rep Vote (205-228), US stock market plummets

Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Monday September 29, 2008 @03:31PM (#318707)

You guys are much better off. Those of us with houses and bills are going to hurt. Those of us with stretched lines of credit and a penchant for living above our means are really going to hurt.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by dhuck on Monday September 29, 2008 @05:38PM (#318872)

said another way: you can't lose money you don't have

that might not help, so here's a picture of a pack of corgis on a beach, hope it helps: http://media.tumblr.com/b9vfl4b63eh5j0pmcEfbxxxGo1_500.png

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Monday September 29, 2008 @05:40PM (#318877)

Oh I'm not worried. 95% of my assets are Canadian! :)

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by alex_c on Monday September 29, 2008 @06:04PM (#318914)

Well, let's see how well Canada does if the US economy collapses... :-/ So far the strong loonie has decimated some industry sectors, I'm surprised things aren't worse overall.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by bilbo0s on Monday September 29, 2008 @06:20PM (#318937)

Little known fact . . . Canada and the EU opened discussions a while ago on Canada's integration into that politico-Economic body.

I am sorry to be the bearer of bad news . . . but we are almost certainly on our own with this.

China and Mexico may give token assistance as they are able.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by fallentimes on Monday September 29, 2008 @06:13PM (#318928)

Everyone is going to get hit in some form. World diversification for the win...even if you take some lumps, you'll survive.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by kingkongrevenge on Monday September 29, 2008 @07:42PM (#319044)

Canada is arguably set up for a harder fall. Household balance sheets are even worse there, and the dependence on commodities could prove to be a disaster in a global economic downturn.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Tuesday September 30, 2008 @11:40AM (#319656)

Household balance sheets are nowhere near as bad here in Canada as they are in the US. This is common knowledge so please provide some figures if you've got something that suggests otherwise. We also have stronger banks and didn't get nearly the "deals" that American's got for mortgages.

You are correct about our dependence on resources, but the US is only one of several markets we export to. I'm sure China and India won't mind buying our oil and trees.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by kingkongrevenge on Tuesday September 30, 2008 @12:24PM (#319715)

> Household balance sheets are nowhere near as bad here in Canada as they are in the US. This is common knowledge

Simply untrue. The debt to income ratios are about the same, but US households on average still have more assets and cash.

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Re:$700bn Bailout is shot down by House of Rep Vote (205-228... by run4yourlives on Tuesday September 30, 2008 @12:41PM (#319729)

Again, a citation is required. Canadian economists regularly state that the D/I ratio is much better in Canada than in the US. (Although it is a cause for concern nonetheless)

Also, given the dramatic drop in US housing values and only a leveling off of Canadian prices, I question your second point as well, at least looking forward.

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