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Entering the greater depression


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If you guys would love to read a book on this sort of strikingly coincidental resemblance of what's going on today in the financial world. Pick up a copy (if you can find it/ out of print) of "The Creature from Jekyll Island" by W.E.B. Griffin. The book was printed in 1994. It lays out in black and white how the Federal Reserve was created and is behind all the boom-bust cycles from when it was created.

 

You won't need to read another book about economics or world affairs after you read that one.

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I don't like Obama but I find it rather funny how all the Repubs always ask how he is going to pay for his policies and now you don't hear anything about this concerning these bailouts. They tell us now it will cost about a trillion. They said the S & L would cost about 50 billion, it ended up costing about 1.4 TRILLION.

 

So much for the FREE MARKET Repubs LOL. This is the biggest joke and most don't see it. This being more or just as much SOCIALISM as the LIBERALS they need to stop making that arguement, it's a big Contradiction.

 

What are you talking about? I don't know any conservatives that are at all happy about this bailout. I'm opposed to it. Hell Rush Limbaugh is on the radio right now bashing the hell out of it and saying what a bad idea it is. You can't get much more "republican mouthpiece" than that.

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What are you talking about? I don't know any conservatives that are at all happy about this bailout. I'm opposed to it. Hell Rush Limbaugh is on the radio right now bashing the hell out of it and saying what a bad idea it is. You can't get much more "republican mouthpiece" than that.

What are the thoughts from the leader(McCain) you guys chose to lead the party?

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What are the thoughts from the leader(McCain) you guys chose to lead the party?

 

What "you guys"? I voted for Mitt Romney. Last I heard McCain is reluctantly on board with this bailout plan. The sad thing is that we may not have a choice unless we all want to be paying 8 dollars a gallon for gas and job hunting.

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What "you guys"? I voted for Mitt Romney. Last I heard McCain is reluctantly on board with this bailout plan. The sad thing is that we may not have a choice unless we all want to be paying 8 dollars a gallon for gas and job hunting.

Apparently the choice has been made just figuring out the details, and I'm willing to bet it grows substantially. Noting that look where gas is headed and the big drop in the dollar.

Edited by fmccap
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Apparently the choice has been made just figuring out the details, and I'm willing to bet it grows substantially. Noting that look where gas is headed and the big drop in the dollar.

 

1. I think both sides of the aisle have shown us they do not know what they are doing, and are willing to screw things as long as they can garner votes while doing it.

 

2. Wall Street can NOT be trusted with no regulation; and neither can banks, or the housing industry.

 

3. The basic economy is sound as the numbers show, but without government intervention, the credit market woulda locked up, making the great depression look like good times.

 

4. Now that everyone is talking about drilling, isn't it time we start talking about refinerys to turn it into gas and diesel?

 

5. The only GOOD thing to come out of this mess, is the admission that NATIONAL HEALTHCARE is no longer attainable for the forseeable future, as that money just went to bail out the financial markets.

 

6. I agree that not one red cent of taxpayer money should be given to any CEO, financial officer, or any suit that got their company into this.

 

7. It appears that the government COULD make a profit on this deal from many reports. That certainly makes me nervous, unless they end up refunding it to the taxpayers if they do. Should they decide to implement new programs if they profit from it, we will certainly be on the road to Socialism. People will then demand takeovers of industrys to fund whatever it is they see as the NEW PROBLEM, and that can't be good.

 

In the end, BOTH partys gave us the proverbial sha-lai-lee. The repubs wanted deregulation, and the dems wanted to allow anyone who earned a penny to be able to purchase a house. Remember how through the last 4 administrations, they all trumpeted how great we were doing because we could look directly at home ownership rates as proof?!?!?!?!

 

What we didn't know was----------->it was going to send our biggest asset into the tank, now did we!!!!

 

That should show you that while trying make things FAIR in America is a wonderful idea, it just, doesn't, work. They just walked away from their responsibilitys, the fatcats already got their money and bailed, and WE got the bill for both.

 

I suppose we ALL were right---------->us that bitched about the people who did nothing, but got our money as they were the GLORIFIED POOR. And you guys who complained that the rich were screwing us by cleaning our clock. They BOTH got together, used the system to FLEECE all of us, and here we are.

 

And to think---------->the Middle Class is by far the biggest voting block, and the only choice that has a chance to win are advocates for the GLORIFIED POOR, or the FILTHY RICH. We gotta be doing something wrong, we just gotta be!!!!!!!

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1. I think both sides of the aisle have shown us they do not know what they are doing, and are willing to screw things as long as they can garner votes while doing it.

 

2. Wall Street can NOT be trusted with no regulation; and neither can banks, or the housing industry.

 

3. The basic economy is sound as the numbers show, but without government intervention, the credit market woulda locked up, making the great depression look like good times.

 

4. Now that everyone is talking about drilling, isn't it time we start talking about refinerys to turn it into gas and diesel?

 

5. The only GOOD thing to come out of this mess, is the admission that NATIONAL HEALTHCARE is no longer attainable for the forseeable future, as that money just went to bail out the financial markets.

 

6. I agree that not one red cent of taxpayer money should be given to any CEO, financial officer, or any suit that got their company into this.

 

7. It appears that the government COULD make a profit on this deal from many reports. That certainly makes me nervous, unless they end up refunding it to the taxpayers if they do. Should they decide to implement new programs if they profit from it, we will certainly be on the road to Socialism. People will then demand takeovers of industrys to fund whatever it is they see as the NEW PROBLEM, and that can't be good.

 

In the end, BOTH partys gave us the proverbial sha-lai-lee. The repubs wanted deregulation, and the dems wanted to allow anyone who earned a penny to be able to purchase a house. Remember how through the last 4 administrations, they all trumpeted how great we were doing because we could look directly at home ownership rates as proof?!?!?!?!

 

What we didn't know was----------->it was going to send our biggest asset into the tank, now did we!!!!

 

That should show you that while trying make things FAIR in America is a wonderful idea, it just, doesn't, work. They just walked away from their responsibilitys, the fatcats already got their money and bailed, and WE got the bill for both.

 

I suppose we ALL were right---------->us that bitched about the people who did nothing, but got our money as they were the GLORIFIED POOR. And you guys who complained that the rich were screwing us by cleaning our clock. They BOTH got together, used the system to FLEECE all of us, and here we are.

 

And to think---------->the Middle Class is by far the biggest voting block, and the only choice that has a chance to win are advocates for the GLORIFIED POOR, or the FILTHY RICH. We gotta be doing something wrong, we just gotta be!!!!!!!

 

 

Bravo!

 

You know how you can tell that both parties were in on this disaster? Nobody is calling for investigations and hearings and talking about impeachment or criminal charges. Suddenly Washington can get something done in a week or less. The sick irony is, if not for politicians mucking around with Fannie and Freddie we would not be in this mess. Now politicians will fix it?

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3. The basic economy is sound as the numbers show, but without government intervention, the credit market woulda locked up, making the great depression look like good times.

7. It appears that the government COULD make a profit on this deal from many reports. That certainly makes me nervous, unless they end up refunding it to the taxpayers if they do. Should they decide to implement new programs if they profit from it, we will certainly be on the road to Socialism. People will then demand takeovers of industrys to fund whatever it is they see as the NEW PROBLEM, and that can't be good.

3. What are these numbers you see?

 

7. I keep hearing about these profits but could you explain where they are to come from and how?

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The reason for the bailout...in whatever form it winds up in....is to save main street....not Wall Street. There is no will in Congress to save a bunch of highly paid speculators. If the banks go down, eventually your jobs may go also. That's how bad it got Thursday afternoon, when a run was beginning on the banks and brokers.

 

Or...at least Congress is not willing to play Russian Roulette with what's left of our economy....and your jobs. You should be grateful for that. Herbert Hoover played that game in 1929, and you know how that turned out.

 

Example....the day the banks shut down, and folks can't get car loans....how long will Ford last? And GM, and Chrysler. That is what was at stake. Jobs!!!!

 

You guys aren't giving Congress enough credit for understanding this situation. They have been briefed, and have info you don't have. They are scared.

 

A lot of very conservative Congressmen are on board, reluctantly, with this plan. We hire them to represent us, let them do their work.

Edited by Ralph Greene
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I don't think most folks understand how close our economy came to colapse last Thursday. We don't have so many choices now I think.

 

I do agree that it's stupid on our part that we let ourselves get in this situation, or that our stupid politians let us get in this situation.

 

I believe part of the problem is that the problem and the solution is quite complex....beyond the grasp of most of our elected officials.

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I don't think most folks understand how close our economy came to colapse last Thursday. We don't have so many choices now I think.

 

I do agree that it's stupid on our part that we let ourselves get in this situation, or that our stupid politians let us get in this situation.

 

I believe part of the problem is that the problem and the solution is quite complex....beyond the grasp of most of our elected officials.

 

 

You know I just can't beleive that these people don't understand that the national debt needs to be paid off, that spending money we don't have is foolish, that borrowing from foreign countries to pay our debt is uncalled for, that printing money endlessly is not the answer, on and on. :stirpot:

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You know I just can't beleive that these people don't understand that the national debt needs to be paid off, that spending money we don't have is foolish, that borrowing from foreign countries to pay our debt is uncalled for, that printing money endlessly is not the answer, on and on. :stirpot:

 

If the country is in debt, then you should be in debt. Be in debt for something that will retain its value, like gold or real estate (excluding the last few years). Be like they are. If you are saving while they are borrowing, you are foolish. They will rob you of your savings. Borrow; and as the value of the currency declines, so does your debt.

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If the country is in debt, then you should be in debt.

 

Yea right.

Our elected officials are behaving like a parent with to much credit card debt setting a bad example. And alot of the public is following along like children with their first credit card. How about our government sets a good example for a change.

 

By the way my only debt is my house and the mandatory monthly payments such as electric, water etc.

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Paulson Debt Plan May Benefit Mostly Goldman, Morgan (Update2)

 

Where’s My Bailout Money?

The supposed $700 billion bailout is the single largest rip-off scheme in the history of America. I say supposed $700 billion because the scope of the bailout has already been expanded to include foreign financial institutions while Democrats want to help homeowners and credit card companies are waiting in line asking, “What about us?”

 

Worse, there seems little evidence that this bailout will even fix the root problem: the declining housing market. From CNN Money:

 

Robert Shiller, a Yale economist who has long argued there was a bubble in home prices, thinks the plan will do little to stop the slide in housing prices.

 

The run-up earlier this decade, fed by low interest rates from the Federal Reserve and lax underwriting standards by lenders, created a bubble that hasn’t yet completely deflated.

 

Shiller notes that prices shot up 85% when adjusted for inflation from 1997 through mid-2006 and have fallen only about 15% since then.

 

Shiller adds that when compared to measures such as rents and household income, housing prices are still out of equilibrium

 

“I’m not sure we can achieve continuing high home prices,” he said.

 

Even more unnerving is Washington’s blatant grab for power. The following excerpts are directly from the original proposal:

 

Sec. 8. Review.

 

Decisions by the Secretary (of Treasury) pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

 

I may not be a Constitutional scholar, but consider what this means. If Treasury Secretary Hank Paulson – or his successor – wish to favor cash on buddies, there is no legal mechanism to stop him or her.

Edited by fmccap
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You know I just can't beleive that these people don't understand that the national debt needs to be paid off, that spending money we don't have is foolish, that borrowing from foreign countries to pay our debt is uncalled for, that printing money endlessly is not the answer, on and on. :stirpot:

 

You and I understand that, but do they? Have you heard Obama or McCain say much about balancing the budget and paying down the debt?

 

Do either of the parties....democrat or republican....have the gumption to raise taxes enough to have a real budget surplus, to pay down on the debt? They can't cut spending much...so much of the spending is embedded in law.

 

But you are corect I think. That is the real solution. BTW....the majority of our trading partners are running surpluses. That's how they buy our debt.

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Charlotte, North Carolina-based Bank of America, which has reported $21 billion of losses, is seeking to buy New York-based Merrill Lynch & Co., which has had $52.2 billion in losses.

 

Gee my company only lost 1/2 of what your company did, so we're twice as good.

B of A should not in my opinion be allowed to buy so much as a doughnut untill they can show a profit and have the money on hand, this buy on credit crap is B.S.

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Do either of the parties....democrat or republican....have the gumption to raise taxes enough to have a real budget surplus, to pay down on the debt? They can't cut spending much...so much of the spending is embedded in law.

 

 

They change the law to their advantage, how about they change it so the public can see an advantage? How about they act like they do Represent U.S.

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