yah the crashing of one of the world's largest economies doesn't affect the rest of the first world at all.

I never said it wouldn't, I asked if it would significantly, meaning enough to cause turmoil in other markets.

But then I remembered, you're STEEL. So you are forgiven.

If I recall, Barclay's and some other UK businesses are already lending a hand in this lame bail out.

I'm kind of lucky because, being a programmer, our company helps other companies consolidate, streamline and automate. We help companies save money and time, which means that even in hard economic times we will still have jobs. Not indefinitely, but we are "shielded" a little from stuff like this, because our services only get more useful when economic times are tough.

I'd like to know a little more about how this works.

1.) Where is the evidence that points towards a "2nd great depression" if we don't bail out these companies?
2.) Is this $700 billion dollar bailout plan necessary for the average American?
3.) I understand that banks have been making stupid loans to people in terms of housing. How and why is the housing market affected if we decide not to use this bail out plan?
4.) How is the stock market related to this, and does it have any connection to the $700 billion dollar bailout plan?
5.) The money that was used to bail out Fannie Mae and Freddie Mac -- will that be reflected in the bailout plan?
6.) Why shouldn't we let stupid companies' stupid decisions take their toll? Wouldn't small businesses pick up where the bigger ones left off and continue to grow because they won't make the same stupid decisions?

I've read through the 'dadchat' but it's not very satisfying in terms of proof. Do any of you recommend an economic layman's site (don't care if it's a blog as long as it has decent evidence) that I can read and look up on this further?

one of the worst things to do is take your money out of the bank (well maybe not in canada but in america) if no one takes their money out the banks will survive longer.

one of the worst things to do is take your money out of the bank (well maybe not in canada but in america) if no one takes their money out the banks will survive longer.

I'm pretty sure I learned in school that in Norway, during times of economic crisis, transactions are heavily restricted so that people won't take out all their money, allowing banks to survive. Guess that's one of the positive sides of living in a social country??

Also Norway is pretty stable economically. I've read some shit that the stock market had a bit of rumble, but otherwise things are going good. Glad I'm not American! And sure as hell I'm glad I'm taking education. Just imagining what young uneducated families are going through, bet a lot of those guys are losing their jobs atm.