government approves $700 billion bailout plan

[WhoSayWho? 5,000+ posts]

Like who?

And what would those "knowledgeable" people suggest instead?

There are plans to keep taxes the same or even lower them, of course nothing's for sure. . .

Like who? Okay, promise me that you will read out loud the names of every economist listed in the link and then I will get back to you on the rest of your question:

http://faculty.chicagogsb.edu/john.cochrane/research/Papers/mortgage_protest.htm

 

[mapolley07 10+ year member]

i really hope it helps our economy.

it won't, its the dumb-*** banks who ****ed it all up in the first place, with their new-found wealth, they will just make it all worse

 

[BryanCain]

This is their solution to propping up a the system of indentured servitude to bankers. If this bill wasn't passed, the system would have finally collapsed because if Government doesn't go further and further into debt, then the system is going to collapse. They have to borrow more and more to extinguish previous interest payments to the Federal Reserve.

In reality, the whole world is bankrupt. There is no way to pay back any of our loans without somebody borrowing more.

It will come out in the open eventually and the world will discover the deception.

As Obi Won said to Padme in Revenge Of The Sith when she found out Anakin turned to the dark side, "He was deceived by a lie." Obi-Wan explained, "We all were. It appears that the Chancellor is behind everything, including the war. Palpatine is the Sith Lord we've been looking for. After the death of Count Dooku, Anakin became his new apprentice"

Same scenario, different realities.

 

[duece212 5,000+ posts]

This is their solution to propping up a the system of indentured servitude to bankers. If this bill wasn't passed, the system would have finally collapsed because if Government doesn't go further and further into debt, then the system is going to collapse. They have to borrow more and more to extinguish previous interest payments to the Federal Reserve.
In reality, the whole world is bankrupt. There is no way to pay back any of our loans without somebody borrowing more.

It will come out in the open eventually and the world will discover the deception.

As Obi Won said to Padme in Revenge Of The Sith when she found out Anakin turned to the dark side, "He was deceived by a lie." Obi-Wan explained, "We all were. It appears that the Chancellor is behind everything, including the war. Palpatine is the Sith Lord we've been looking for. After the death of Count Dooku, Anakin became his new apprentice"

Same scenario, different realities.

What the fuk kind of star wars nerd shit is this //content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif

 

[speedyg76 10+ year member]

How about they divide the 700 billion to each of the tax payers instead of saving some banks that were going to fold......let them fail, I don't see the government rescuing other faild business ie what happens if I were to start a business and in five years I had to close it because it failed, would the government have bailed me out?

 

[bigbangtheory 5,000+ posts]

Meh, I am pissed too, but what can us peons do about it? Nothing but ***** and moan about it.

It passed, we will have the same shit for a while till we have more problems and be right back to where we were. Yes, it is retarded, but it is the Amreican way.......................//content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[DownSouth954 10+ year member]

Meanwhile, we're giving bailout billions to American car manufacturers and supporting a 7-year war in Iraq //content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif. Keeps getting better and better for the tax payer.

 

[azimuth 5,000+ posts]

Meanwhile, we're giving bailout billions to American car manufacturers and supporting a 7-year war in Iraq //content.invisioncic.com/y282845/emoticons/crazy.gif.c13912c32de98515d3142759a824dae7.gif. Keeps getting better and better for the tax payer.

don't you just love the sneaky auto industry bail out. i rememer bin laden saying that they would beat us by destroying our economy. seems to be working.

 

[bigbangtheory 5,000+ posts]

Speaking of the Iraq war...............anyone know anybody that got stop-lossed? Fawking crazy!

 

[ngsm13 5,000+ posts]

Each an every man, woman, child, baby, ******, EVERYONE in the U.S. according to the Census Bureau's population clock could have... $2292.59 if distributed evenly...

Instead of bailing out foreign owned banks...

lol.

nG

 

[ngsm13 5,000+ posts]

Take out the rebate checks and the iraq war...

Number jumps to nearly $7000...

nG

 

[Jmac 10+ year member]

How about they divide the 700 billion to each of the tax payers instead of saving some banks that were going to fold......let them fail, I don't see the government rescuing other faild business ie what happens if I were to start a business and in five years I had to close it because it failed, would the government have bailed me out?

$700 billion split 350 million ways is only like $2000 each ...

 

[bigbangtheory 5,000+ posts]

I could use 2000 dollars, lol!

 

[azimuth 5,000+ posts]

giving the money to us would not solve anything. you aren't taking into consideration the value of the dollar in the world market. people would lose far more than 2000$ from their 401k's, retirement and investments if the banks fail as well. not a well thought out solution.

 

[BryanCain]

giving the money to us would not solve anything. you aren't taking into consideration the value of the dollar in the world market. people would lose far more than 2000$ from their 401k's, retirement and investments if the banks fail as well. not a well thought out solution.

Unfortunately, that is inevitable anyway. Each and every workers 401(k) will likely be drained by 2016. Either through market decline or inflation. They're out to get everything we have. I saw Suze Orman on TV yesterday preaching, "You need to get out of debt... you need to maximize your contribution to your 401(k)... and live below your means."

I mean it sounds like good advice, but if you contribute to your 401(k), you are subject to a market that's securities are way over inflated because of a mandatory stock purchase plan by worker's employers. Publicly traded stocks are only so high in price because everyone was forced to jump into them in order to invest for their retirement. The real underlying value of these securities will eventually even themselves out and there will be a huge sell off or panic.

We're facing major financial problems in this country that most likely will not be solved easily: Social Security going bankrupt, Medicare going bankrupt, 401(k)'s about to disappear due to a bear market, consumers sinking in debt that they do not have to ability to pay back, all forms of production going over seas, more bankruptcy filings than ever before, more consumers in foreclosure than ever before, and more frightening than all the above is hyper inflation.

Hyper inflation is the most frightening of all. This is going to impoverish anyone without real hard assets or a system of production. Anyone who believes a currency has value will be wiped out. The idea and belief will have the working class working harder and harder until they're so exhausted from trying to keep up that there will a be revolution. All of the above do not matter if you do not have a strong currency. What is a check from Social Security going to matter if you cannot buy a single thing with it?