General => Lounge => Topic started by: jcassity on September 29, 2008, 12:14:50 AM
Title: I must have ESP worth 700billion
Post by: jcassity on September 29, 2008, 12:14:50 AM
I posted the below comments on another topic prior to any knowledge of what was in the 700billion dollar bail out plan.
[COLOR="Blue"]what bugs me about the economic side of this post is this.
Ever notice how many times the gov't has ruffled feathers with information with no substance?
what are the odds this is a front? A front to change currency,, a front with an aganda that forces a change for the purpose and benefit of only those who are in the small circle?
Why should i believe them now.
The things I can not ignore are the long repeating numbers of working people without jobs or essentials that make a household thrive. Common sense tells me that they ignored us before, and they will do it again. Another thing, why would we be in a matter of days from electing a new president and we still dont know what thier plan is. I need to hear founded ideas and plans. Not what i heard on the "one and only" debate we had last week. There was a lot of talk but no plan on how to get there. Lots of tallking around the answer and why?,,,,, cause no one knows. Lay out a plan and say its going to be so come hell or high water.
I can not say i back a bail out plan. I think that if a company like AIG going down would stop world wide construction, Im pretty sure compaines with active projects can find an insurance company to get them bonded.
I really think nothing but good can come from all of this bad, we will suffer the actions of those we as a people really have no control over and thats the sad part.
Do we even know "how" to take back our own country,, i dont think there are enough hard core americans out there who have the balls to do it but its what we need. A nation of soft thinking considerate rugs are the majority lately.
in close, i would love to hear one of these idiots stand up and say to america that they are hopeful that america will be in chaos because we are in a rush; A rush to start up closed factories, a rush to find the talent to sew jeans or shirts, a rush to build cars , vcr's, tv's and the like. A rush to become real again with a hope and a dream in the blury near future for the sake of those younger who have no idea if they can even be what it is they want to be. The moral of students is too low to be ingored but this problem , be whaterver it is it might be, needs handled like a project with a good manager.
Pick the top 20 thngs from america and our neighbors Canada and Mexico that are a problem. We must maintain perfect relationships with our neighbors and in return, our southern neighbor needs to understand and comply with its northern resources. Narrow that llist down to 10 things and work those like the devil until they are fixes. Each major thing on the list will likely have a dozen or so end trial problems that will fix themselves as a result. This stuff is too easy, the problems are so obvious, the action required takes too much balls for anyone to have the courage to do it,, but i am hopeful.
for now , i have no party to place trust in nor anyone i feel could hornor me in office. If only the ballot said "lou Dobbs and Michael Savage"[/COLOR]
Now look at one of the hilites of the 700billion dollar bill that failed to get included.
[COLOR="Red"]• HELP FOR TROUBLED HOMEOWNERS. They failed in an effort to give judges the power to modify mortgage terms for people who have filed for bankruptcy and Democrats were unable to get approval for part of any profits the government might receive to go to help people facing mortgage defaults.[/COLOR]
I told you so........ for the benefit of those in the small circle only this bill become policy,, this is how shiznit happens and it already leaves a bad taste in my mouth. I hope its rejected tomorrow.
Title: I must have ESP worth 700billion
Post by: kingcars on September 29, 2008, 11:49:38 AM
http://www.youtube.com/watch?v=H5tZc8oH--o
Good vid to watch on the issue.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 29, 2008, 12:20:07 PM
Quote from: kingcars;237645
http://www.youtube.com/watch?v=H5tZc8oH--o
Good vid to watch on the issue.
Lol - the Republicans - like McCains financial advisor Phil Graham who helped repeal many of the protections from the Great Depression is responsible for this housing bubble - which didn't START GOING OFF THE DEEP END UNTIL 2003 - when we had 100% Republican contol of the government. That's when all of these crazy derivatives were being pushed - and since they couldn't find enough mortgages to make into "mortgage backed securities", they started selling no income verification (& worse) loans to anybody who wanted one.
Anybody who wants to hear the jaw-dropping account of what these sleaze-balls did starting in 2003 after Graham (McCain's economic advisor) helped to remove protections that had been around since the Great Depression (in 1999) needs to listen to this -> The Giant Pool of Money (http://"http://www.thislife.org/Radio_Episode.aspx?episode=355")
If you want to keep your head in the sand and believe in "voodoo economics", that's fine with me. What's voodoo economics? It's called "cut taxes for the rich and hope they hand it out to the poor people. It's also called "borrow money from your kids future" as can be seen by what the so-called "fiscally responsible" Republicans have done to the deficit: (http://i43.photobucket.com/albums/e360/Domeskull/National-Debt-GDP.gif)
Fiscally responsible my ass. As my girfriend said who does statistical buttstuffysis to determine how much risk her bank is in due to this crisis said very frankly in an email to me the other day "Republicans are not good with money".
DUH!!
Title: I must have ESP worth 700billion
Post by: TurboCoupe50 on September 29, 2008, 12:28:21 PM
Quote from: jcassity;237609
this is how shiznit happens and it already leaves a bad taste in my mouth. I hope its rejected tomorrow.
shiznit, Republican, Democrat or whoever, I'm praying for it's passage...
My IRA is going to Hell otherwise...
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 29, 2008, 12:39:37 PM
Quote from: TurboCoupe50;237650
shiznit, Republican, Democrat or whoever, I'm praying for it's passage...
My IRA is going to Hell otherwise...
Tell me about it. NOT counting my house depreciation - I'm down nearly 100 grand :(
Title: I must have ESP worth 700billion
Post by: jcassity on September 29, 2008, 11:52:10 PM
I know tom,, I lost 47,000 so far. there is nothing in the bill in its current design that is a garrantee that you will benefit,, nor is there any language directed at working portfolios for stock loss.
Im only 39 but its a lot for me to see. I am not you so I dont count , what does count is the fact that this bill will not fix anything,,plain and simple. It buys time for nothing but the correction in the world markets that have been held at bay since said time frame of 2001-2003.
sorry to yet again be the minority but the bill does nothing for the working person. Tom, you will not see your IRA suddenly come back to its previous level, in fact, you may see it swing lower or level out with the pass or no pass of this bill.
We are F,,,ed cause they wanted to play. the players were up top, and the top will suffer a lot so they want to scare the nation into a situation so they can play just a little while longer for thier benefit.
If what I am saying is not true, consider asking yourself why there is not anything in this bill that directly effects the working person such as help for bankrupt households? To top it off, the stimulus package was all but cancelled in this mad dash to save the big dogs.
Title: I must have ESP worth 700billion
Post by: jcassity on September 30, 2008, 12:03:53 AM
cougar5.0
you nailed something down so well, i wish so many uninformed people understood it.
To boot, Fannie Mae ran a software for years that allowed loans for people at 65% gross income,, yes i said gross.
Today, that same software is being used by said company who's name shall not be spoken but they lowered the amount to 55%.
There once was once upon a time when I bought a house in 1997 and the bank said there was regulation in place that said I could not exceed my net 25% income for a mortgage.
What happened to that? I think you just told us:bowdown:
As bad as it sux, I hope the bill does not pass for one reason. The credit/banks will have to resort to thier old school ways of doing exchanges. If you dont qualify for credit, you dont qualify and your rejected. If you piss off and scew around and pay min payments with no track record of paying off a debt, your rating should be low. Credit is earned,,,,,,,,,,, EARNED,,,, with hard work and RESPONSIBILITY.
Now I know for a fact there are many people out there who dont have the ambition or core values to EARN or be responsible.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 12:44:04 AM
I know the bailout is a py idea and I don't trust the mucky-mucks with my money, but I lost another 20 grand today alone - I'm freaking out about how I'm gonna send the kids to college - yikes!
:(
Title: I must have ESP worth 700billion
Post by: jcassity on September 30, 2008, 01:01:23 AM
good point I think < here we go again:D > that IRA's for retirement or college savings should have some sort of diplomatic imunity from market conditions. It would never work though cause theres no guarantee the money isnt for college or retirment.
Title: I must have ESP worth 700billion
Post by: TurboCoupe50 on September 30, 2008, 09:51:54 AM
Scott, you need to watch a hour or two of CNBC...
It's about freeing up money so the small businesses can borrow to do their day to day business... Without this credit they can't buy materials or even pay employees... If it ain't passed soon, we're in a world of shiznit...
If the Republicans screw it up again, I'm jumping ship...
Title: I must have ESP worth 700billion
Post by: kingcars on September 30, 2008, 12:58:32 PM
Quote from: Cougar5.0;237647
Lol - the Republicans - like McCains financial advisor Phil Graham who helped repeal many of the protections from the Great Depression is responsible for this housing bubble...
Oh, so you didn't watch the video I linked to. Neither did TC50. Good job guys. Funny how people assume that just because a republican is in office when something happens that it's their fault.
Lets see....Obama got 42mil a year from Fannie Mae, Mccain only got 800k? There are reports showing that Mccain warned back in 05 that we needed more restrictions on the loans while Obama kept suckin their you-know-what, and that the Bush administration tried twice to put a bill through for it that both got denied by democrats. Yup, it MUST be the Republicans fault...
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 01:10:04 PM
I watched the idiotic right-wing hit piece - just full of the usual right-wing lies. Did you listen to the show I posted with real people who did this and what they said about it and when it really started (2003)?
Can the Republicans take responsibility for anything?
Title: I must have ESP worth 700billion
Post by: kingcars on September 30, 2008, 01:16:54 PM
OOOOOO aaaaaaaa yeah this audio clip does NOT sound staged and/or completely fake, and there are PLENTY of sources provided for the information...
:blahblah:
Title: I must have ESP worth 700billion
Post by: ZondaC12 on September 30, 2008, 01:19:13 PM
Quote from: Cougar5.0;237647
"cut taxes for the rich and hope they hand it out to the poor people.
The OOOONNNLY reason Im calling you out on this is the following. http://soundpolitics.com/public/2007/04/bar_stool_economics.html my uncle showed that to me and I always think of it when I hear "tax cut for the rich". Its not "for the rich" thats the thing. The sum of money they "save" is "more" simply because they have a higher income.
The way I see it anyway...theyre GONNA turn their profit no matter what you do (they being big corporations and such) and the more you tax them to death (note Im not trying to wave a torch yelling NO TAX FOR EVERY1!!! just saying that if you try and positively nuke them with taxes)....the more they'll just pass it onto the end consumer. I dunno.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 01:19:40 PM
Huh? I saw all the ads and to "make it viral" - it's clearly a right-wing troll hit piece that only a right-wing troll would watch and promote.
Anyway, how's them whining wusses doing for ya? Waaahh!! We didn't vote for it because a girl insulted us - waaah!!
Bunch of whining babies - makes me ill.
Title: I must have ESP worth 700billion
Post by: kingcars on September 30, 2008, 01:24:04 PM
Quote from: Cougar5.0;237805
Huh? I saw all the ads and to "make it viral" - it's clearly a right-wing troll hit piece that only a right-wing troll would watch and promote.
ROFL, calling me a "right-wing troll," that is HILARIOUS.
Lets see, a 10 minute video with provided sources (and even providing google searches for you to try yourself) or a stupid talk show with "supposed" people that "know" what they're talking about, and YOURE the one calling ME a troll? That's a good one.
If seeing things for what they are makes me a right-wing troll, I guess I can't argue.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 01:26:11 PM
You are a right-wing troll if you think that was a fair representation of both sides.
If you listened to the show, you would know that they were the people that WROTE the bad paper!! OMG!! You're just not going to listen to facts.
The Republicans were in control for most of the time this was spiraling out of control.
Come on you wussie cowards!! Take responsibility for something!!
Title: I must have ESP worth 700billion
Post by: Chuck W on September 30, 2008, 01:28:21 PM
Keep it civil...
Only warning.
Title: I must have ESP worth 700billion
Post by: kingcars on September 30, 2008, 01:30:28 PM
Seems more like to me that the Democrats like to screw with the Republicans. I remember when everyone was blaming Bush for moving jobs overseas, when it was really Clinton that signed the bill that put it all in action. And like now, the Bush administration tried twice to put through a bill for tighter restrictions, Mccain warned of disaster, so yeah, it's all their fault.
I'm 100% sure that both sides (Dems and Repubs) have done plenty of things wrong to cause this, but at least ONE of them tried to fix it (and Fannie Mae sure...uh...cuddled up to the people who didnt).
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 01:36:28 PM
Fannie - the one paying McCain's chief of staff for access?
Yes, plenty of blame to go around. I just wish the R's could take responsibilty and stop trying to blame other people - this happened while they were in control of all the entire government.
Title: I must have ESP worth 700billion
Post by: Quietleaf on September 30, 2008, 01:54:36 PM
There are certain things that should be common sense...
1. Don't forget to use toilet paper. 2. Don't eat glass. 3. Don't run cheap Chinese intakes. 4. Don't buy something from a certain banned forum member. 5. Don't lend money to people who can't pay it back.
DUH!
I can't speak for AIG, but speaking strictly in terms of Fannie and Freddie, I think we'd be better off if they were forced to file Chapter 11 and sell off their mortgage securities. They were forced to make bad loans and it needs to be burned into the brain of every living man, woman, and child that that's bad policy. Spare me the "who was in control" argument. Several attempts were made to fix the problem starting in 2005 and they were opposed by both the corrupt and the stupid. At this point I think we're better off letting Fannie and Freddie divest as an object lesson. And yes, I've lost money too -- my Wachovia stock is worthless now. Thankfully it was only a small part of my assets -- diversify, people, diversify. I knew that when I was a teenager.
Title: I must have ESP worth 700billion
Post by: Carl on September 30, 2008, 02:00:18 PM
I was raised in a very liberal state (Vermont) and even I know it's going to be difficult for either side democrat or republican to change the stranglehold the media and large corporations have on the government. As an amature investor in the stock market I have recently become more interested in this sort of thing. Being a military man I do like what the republicans do for my paycheck but not much else. The majority of this financial crisis is President Bush's fault (sorry kingcars) but it's not like the democrats helped like they said they would when they took over congress.
Right now I am leaning toward Obama. I like what he had to say in the debate and I like his tax plan. I like Mccain's experience for overseas matters but enough of that! We need to focus on digging the middle class out of debt and getting them some good heathcare options.
It's going to be a rough ride but we will pull through it. We always do! Just keep taking care of each other.
Title: Uggh!
Post by: Cougar5.0 on September 30, 2008, 02:19:42 PM
Quote
Unknown terrain for economy
By Robert Gavin and Casey Ross, Globe Staff | September 30, 2008
In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels.
"I don't think any treasurer alive could say they've ever seen anything like this," said Timothy P. Cahill, the state's treasurer. "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that."
Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash amid uncertainty over plans for a federal bailout. In short, the House's rejection of a $700 billion Wall Street bailout plan takes Massachusetts and the rest of the US economy into territory that few policy makers and buttstuffysts wanted to explore.
...
"This puts the onus on the Fed," Bethune said. "The game isn't over, but it's halftime and we're down three touchdowns."
I'm FAR from an alarmist, but this has me just a tad nervous!
:flame:
Title: I must have ESP worth 700billion
Post by: EricCoolCats on September 30, 2008, 02:21:44 PM
Quote
Don't lend money to people who can't pay it back.
BINGO. The greed of lenders is the major cause of what's happening now. They knew they were selling SOME bad loans with the hopes that the borrowers would be penalized or default.
OTOH, the average American consumer is an idiot today. Just because a bank or mortgage company or credit card company said you COULD take out a ton of money, doesn't mean that you SHOULD. If you're not in control of your finances and you trust that a large corporation is going to babysit you...then the bottom falls out...you've got nobody to blame but that person in the mirror.
Then again...the government, which theoretically should be FOR the people, hasn't done a ed thing to help people in the last 7 years. Only now, when the fire is held to their feet, do they attempt to resolve something, and obviously they can't even get that right. Even if the resolution was halfway decent it would be too little, too late.
So I see a three-way split for the blame. You can blame anyone you want, but these are the facts. Everyone got bit on their backsides this time.
Now...being one of the 14 out of 15 mortgage holders that actually do pay on time, within my budget, and with excellent credit...I'd love to know how the government intends to lighten the burden on what's left of the middle class once this "correction" in the markets is over with. Where is our special break? You can do it for the poor, the bankrupt, and the foreclosed. So what about the upstanding citizens? We've been keeping this country going, ON OUR OWN, for the better part of a decade. We deserve something from all this.
Oh yeah...we have to rebuild a foreign country first. That's priority, I forgot.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on September 30, 2008, 02:26:37 PM
Love the small print Eric - lol!
I am with you - been paying my mortgage on time for 19 years already - even when my loan was worth 1.5 times what my house was worth!!! You didn't hear me complaining.
My fear is that I'm gonna get laid off and I'll be another defaulted mortgage - but as a result of other people's incompetance!!!
BTW, if you have some time, listen to the radio show I linked to above - THEY GAVE LOANS TO DEAD PEOPLE!!!!!!!! :hick:
Now THAT's predatory lending. :)
Title: Uggh!
Post by: Cougar5.0 on September 30, 2008, 02:34:08 PM
Quote
Unknown terrain for economy
By Robert Gavin and Casey Ross, Globe Staff | September 30, 2008
In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels.
"I don't think any treasurer alive could say they've ever seen anything like this," said Timothy P. Cahill, the state's treasurer. "There have always been cash shortages, but you could always go to the market and get more. This is the first time we haven't been able to do that."
Cahill said he believes the credit market will in effect remain shuttered today as the nation's largest lenders hold on to their cash amid uncertainty over plans for a federal bailout. In short, the House's rejection of a $700 billion Wall Street bailout plan takes Massachusetts and the rest of the US economy into territory that few policy makers and buttstuffysts wanted to explore.
"This puts the onus on the Fed," Bethune said. "The game isn't over, but it's halftime and we're down three touchdowns."
Holy !
Title: I must have ESP worth 700billion
Post by: TurboCoupe50 on September 30, 2008, 05:22:39 PM
Quote from: EricCoolCats;237819
BINGO. The greed of lenders is the major cause of what's happening now. They knew they were selling SOME bad loans with the hopes that the borrowers would be penalized or default.
OTOH, the average American consumer is an idiot today. Just because a bank or mortgage company or credit card company said you COULD take out a ton of money, doesn't mean that you SHOULD. If you're not in control of your finances and you trust that a large corporation is going to babysit you...then the bottom falls out...you've got nobody to blame but that person in the mirror.
And that is it in a nut shell...
I always thought the idea on a home loan was to pay it down, not refinance and piss away the equity every time the value increased... This is what many have done, including a few people I know...
I took a 15 year loan on this place and paid it off in less than 10... Could buy four or five moderately priced new cars with the limit on the credit cards, what do I owe??? Maybe $500...
Title: I must have ESP worth 700billion
Post by: Carl on September 30, 2008, 06:46:13 PM
I think it's about time to use Fort Knox :hick:
Title: I must have ESP worth 700billion
Post by: Kitz Kat on September 30, 2008, 07:32:10 PM
The ceo's that booked with millions. Should be held for treason. For bringing this great country to do whats happening now. Now us poor slobs the middle class got to bail them out again.
Title: I must have ESP worth 700billion
Post by: jcassity on September 30, 2008, 11:52:54 PM
Quote from: Cougar5.0;237823
In an example of how fragile credit markets have become, the state of Massachusetts yesterday tried to borrow $400 million to make its routine quarterly local aid payments to cities and towns. State treasury officials said the credit markets abruptly froze midday, leaving them $170 million short. The state will have to use its own funds to complete the local aid payments, draining the state's balance to extremely low levels.
Holy !
WHAT? and this is fuel to pass WHAT AGAIN?
TOM, this is the train of thought i am talking about. This is bassAkwards and a stupid way to run a state. Since the state runs up a debt of credit on services it cant afford, I suppose the rest of the random idiots can do it to.
The very idea of a state borrowing money on an """AID""" program stinks cause its probably money for conflicting programs most of us complain about or worse of all, shaddy transactions polutted with pork and skimming off the top.
I am pretty sure if you go back in time, this so called "AID" program was passed with the fuel of an additional TAX people. Wonder where that tax went to. Now,, the state starts a boo hoo match cause they have to ,,hoot hoot,, boo hoo,, "we gotta spend our own money on this,,boo hoo" This is not logical,, and i suppose its a direct quote from an accounting PHD dumb ass.
I am happy to report though that the even with the unforseen market recoverey negating dooms day, the majority of america have the same gut feeling i do.
repbulican party- I could care less Dem's- I could care less.
Im neither, I am equipped with open ears to hear a plan, and a gut feeling of who is best ,,,, so far no go from both idiots corners.
All you have to remember is that everytime you tell your children to save up for something, dont get pissed when the dont. this line of thinking will insure the bill gets passed and we can all be a bunch of little children who need constant supervision from our goverment and they will put us in time out while they go cash thier checks.
Tom One thing that concerns me is that you want the bill to pass, this has me wondering why because i could sure use some positive information to work with. I do stay in touch with the news from radio to TV / papers and usa today, Im just like the majority of americal who smell a deal that is Top down,, not bottom up.
The concept of a credit freeze is likely going to bypass the average guy and even the small buisness. The credit freeze would likly hit the ones who borrow millions of dollars with Net 90day plus on payment schedules.
Title: I must have ESP worth 700billion
Post by: jcassity on October 01, 2008, 12:17:35 AM
well, i feel like an idiot.
I ran out of smokes so after i clicked submit on the above post, i went past the hotel front desk and saw the "night auditor".
you all know who im talking about, the person who keeps the books straight on hotel charges and stuff.
As i passed buy, the guy speaks to me friendly like, and asks how im doing,, I reply back with my typical "better than i deserve" answer. then,,,,I said,,, "so, are you for the 700billion dollar bail out plan?"
His answer,,,,"You know, the bail out plan congress wants to push i said.
His answer, "I dont know what your talking about"
so,, for all my efforts of claiming rights to being a dumb white boy from west virginia,,,, A fellow from Indianapolis In takes the cake for the day. To boot, he is the holiday inn night auditor,, good with money, on top of number crunching ect.
oh well,, perhaps there is no hope after all
Title: I must have ESP worth 700billion
Post by: ~AC on October 01, 2008, 12:26:20 AM
i dinno about all about this world going to shiznit with the economy, but the ammunition market has skyrocketed. i heard here in georgia that when the news came out about russia invading georgia the country, Alabama bought up all the ammo. at least my stepdad cant find any ammo. so i dunno if that was a joke (no offense to those in alabama.) i myself want to get a singshot winchester 278? i think is the grain ruger number 1. the ones now have a 5 shot clip bolt action. im looking for a nmber 1 with a bolt action single shot. not an easy gun to find. i love how the spent shell flies over your shoulder. anyone else thinking about ammoing up b/c of all the crisis in the markets?
Title: I must have ESP worth 700billion
Post by: jcassity on October 01, 2008, 12:37:30 AM
ok,, nuff said here,,,,:toilet:
Title: I must have ESP worth 700billion
Post by: TurboCoupe50 on October 01, 2008, 08:28:12 AM
As I understand it, the government would buy the loans at about $.75 on the dollar... The reported value(if can be believed) is close to $.95 on the dollar... If this is true, there is much money to be made on the deal... At a worse case, they're worth less than $.75 and we loose some money... BUT in NO case is it a $700 Billlion give away...
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on October 01, 2008, 11:13:33 AM
The "aid" Mass is talking about is distributions of Lottery and Income Taxes - I'm sure most all states distribute money in a similar fashion - even my NH has education "aid" as many towns can't raise enough through property taxes to fund schools (voters wont let them) so they have to get state Lottery & restaurant tax money (in case on NH) to meet minimum educational requirements. Yes, Mass has $170M to cover the distribution, but next time someone's kid will be missing out on something in school. The way money is temporarily borrowed to do this is a way of life - we'd go into a deep depression in this country if we couldn't make sort-term loans to cover payrolls etc. Oh, and I've heard that small businesses would suffer more than big as they can't cover payroll without line-of-credit where larger companies may have large amounts of cash-on-hand to do this.
Title: I must have ESP worth 700billion
Post by: jcassity on October 01, 2008, 07:56:40 PM
now the total is 850billion, Why did it raise? probably because the 700B already was spoken for inside the fist two seconds of passing.
what in the world would tax breaks for companies who supply services of the following have to do with our problem? Nothing other than cry babies not giving in until the bill is so full of pork, focus is lost.
-wooden arrow makers -wool research -mental health insurance
just to mention a few have to do with a market problem. Still to date, there is not a thing in the bill for for the man who will pay this bill later.
Im happy those of you are satisfied with this christmas tree bill decorated with wool , wooden arrows and such. It goes to show my judgment must be way off.
The market is swinging up , construction numbes are up by a small percentage but still up, I dont now about unemployment but that number has always been funky.
What I do know is that the best minds who were previously running wall street , many smart minds in the dynamics of an economy say we are not going to benefit from this bill.
Somehow i feel more scared of the day when i no longer care.
I need something real that makes me proud of what my gov't is doing. We no longer have any products to hold up saying this is made right here at home, nothing to show what we can do other than lately.
Title: I must have ESP worth 700billion
Post by: jcassity on October 01, 2008, 11:11:40 PM
Title: I must have ESP worth 700billion
Post by: jcassity on October 09, 2008, 02:59:02 AM
so hows everyones 401k now
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on October 09, 2008, 08:33:32 PM
What 401k?
:P
Title: I must have ESP worth 700billion
Post by: jcassity on October 10, 2008, 12:49:47 AM
good point there,,,,,,,,,,
hows about this........... Has the bail out lived up to its antited expectation with respect to those who had money in the market?
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on October 10, 2008, 09:06:26 AM
Well, so far the bailout hasn't been implemented, so I'd say it isn't even relevant yet. Probably was too little, too late - though I know you see it the opposite - we're screwed either way. It may help some once they start buying some of the bad paper.
Title: I must have ESP worth 700billion
Post by: Haystack on October 10, 2008, 09:18:02 PM
I think they should have let all the people that lost billions and let em crash and burn. If you suck at business maybe you shouldn't be doing it anymore. I heard on a talk radio show that the total would have added up to $300,000 for each person over 18. Im not sure how accurate that is, but that would kill the value of the dollar if they did that...
Title: I must have ESP worth 700billion
Post by: jcassity on October 11, 2008, 12:49:48 AM
Quote from: Cougar5.0;238998
It may help some once they start buying some of the bad paper.
:rollin: yeah,, buy bad paper even more worse off paper.
I dont see things the opposite of anyone,, I seem to be reluctant on the choice because of the lack of foresight. I guess being a looser is the way you get respect nowadays. its all good though, this will come and go like water off a ducks back.
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on October 11, 2008, 04:03:53 PM
The thing is, they are actually taking their time before they decide which bad loans to buy - that's why they haven't really implemented this so-called "bailout" yet. The government will own the properties that default on their loans, then will hold the properties until home values come back, then sell them - hopefully at a profit. And they are not paying full value for the loans, so the banks will take a loss on any risky loans the gov. buys. Unfortunately, the dominoes had already started to fall when they decided to do "something" and it may take 10 years before I get back the enormous amount of money I lost this past week. It's been the worst drop in the Dow in it's history - these are bad times no matter who you want to blame or how ineffective the response has been from the US governments, and now the combined effort of governments all over the planet.
Bend over people, take it like a man. :(
Title: I must have ESP worth 700billion
Post by: Cougar5.0 on October 11, 2008, 05:29:01 PM
The thing is, they are actually taking their time before they decide which bad loans to buy - that's why they haven't really implemented this so-called "bailout" yet. The government will own the properties that default on their loans, then will hold the properties until home values come back, then sell them - hopefully at a profit. And they are not paying full value for the loans, so the banks will take a loss on any risky loans the gov. buys. Unfortunately, the dominoes had already started to fall when they decided to do "something" and it may take 10 years before I get back the enormous amount of money I lost this past week. It's been the worst drop in the Dow in it's history - these are bad times no matter who you want to blame or how ineffective the response has been from the US governments, and now the combined effort of governments all over the planet.
Bend over people, take it like a man. :(
Title: I must have ESP worth 700billion
Post by: Quietleaf on October 16, 2008, 11:54:09 PM
Title: I must have ESP worth 700billion
Post by: jcassity on October 17, 2008, 08:28:01 PM
first of all, let me get a little ugly here because its due.
Who the hell is this foreign unpr0nounable last name chick think she is fooling?
She thinks an already failing administer "social security" is going to work?
New York city people do not have any clue how the real world works as they live in thier filthy stank ass town of mixed up foolishness.
There is no way a man can save and gain any ground on retirement and keep up with inflation without a company match. She wants to mandate everyone put away 5% and with no match,, just give it to the gov't so they can squander it away and cry later that they also lost all that money.
I have to say it or bust but i am really starting to learn a lot about what we are in for soon. Our govt is in a real fine mood to make some changes that forces everyone into a USSR senerio where everyone has a pay cap and can not do this or that and if you do,, you will be put in jail or fined.
before you say i am wrong,,, did anyone pay attention to what happened to the lady that asked Laura Bush "why did my son have to die in iraq? while laura bush was speaking to a press group?
The lady raised her hand,, she was called upon by laura,, the lady spoke her question loud enough for everyone to hear. Laura did not answer the question,,, and if you paid attention,, you know what happend.
Soon you will be under so much control,, you will not know what freedom is.
Before you think its not possible in the USA,, look at what happened to the lady,,, look at the Woodrow WIlson administration and what they did with people who spoke out about WWI,,, and the list goes on. Yes the US is capable of Socialism and we are headed to a UNITED VERSION. We voted people in office to speak for us,, and when we speak that we do not want something,,, they do what they want,,, and this is what we get in return : consideration of a policy that does nothing but limit us.
I believe in a capital system where you make as much money as you can. I have problems with the moral character of the companies who outsource and limit our choices to the degree that we are force to have only one choice,, made in china.
As we come close to an election,, let your minds consider the below words and let these words empower you to do the right thing as the meaning contained within lends itself to our choices we have soon. If it is reasonable to say there is a choice, please share with me why i am so confused. The character choice we will make falls upon our own shoulders as a character flaw of our very own.
I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.
Title: I must have ESP worth 700billion
Post by: jcassity on November 13, 2008, 01:01:02 AM
So the one man in control of this money had up and decided i was right all along. The banks were not lending, they were holding on for better times to loan.
So he changes his mind and blows us all away. He decides he will simply buy bank stocks with all this money. He figures he can see another bail out package down the pipe.
why, GM has retired people with payroll and insurance premiums due.,,(17million of which will go to puppies meds). Yep, GM is the worlds largest consumer of puppies,, what a shame.
Title: I must have ESP worth 700billion
Post by: shame302 on November 13, 2008, 02:36:37 AM
Quote
So he changes his mind and blows us all away. He decides he will simply buy bank stocks with all this money
lol...i know it, what a joke. heck, we ought to all just wright "exempt" on our w2/4 forms and give ourselves our own "bailout plan"