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People are pouring out into the streets...

In protest over the $700 Billion bailout, people of all political persuasions are beginning to spontaneously rise up in cities all over the country over this pending deal of socialism for the "free market".
What do you guys think of the situation?
Do you think the government will pay any attention to the public?
 
I think the bailout is a pile of BS of epic proportions. Last I heard, a bailout agreement was reached this morning, but I haven't looked at the details.
 
Hell if we dont bail them out its going to get alot worse. I still cant belive that the govt. let big corporations affect our economy in this way....I hear its going to cost each family around $200,000.
 
its not a good idea, but doing nothing is even worse. If you let the big banks die and wall street plumets, all the BS about "GD2" (great depression 2) is going to come true. Its all a cycle. The market goes up and down. We just need to ride the down through, with our heads out of our a**, and not stuck in the ground ignoring the obvious.
 
watch the value of a dollar plummet.........all they are doing is printing more money with nothing to back it up but the word of the government.......all they are doing is postponing the inevitable.....bet the whole thing still crashes with in the next decade........

HOWEVER you could also look at it this way.......what the government is doing is buying up property for 30 cents on the dollar........there isnt anywhere in the US where housing prices have dropped 70%.........personally, if i had a couple million bucks to invest i would be interested in picking up a bunch of property for that price cause i should be able to double my money inside 10 years......even if i had to sit on it for 5 years i would still make out like a king....
 
I saw on the news last night that it will cost each person in the US (man, woman, and child) about $2,500, if I remember correctly. It certainly is going to drop the dollar even more so than it already has...

xvart.
 
I saw on the news last night that it will cost each person in the US (man, woman, and child) about $2,500, if I remember correctly. It certainly is going to drop the dollar even more so than it already has...
That's only 10-12% of my yearly salary, that's a fair enough tithe to keep a failing enterprise going, no?
It makes no difference to the government that I'm neck deep in my own debt, they have no vested interest in us the people and they emphasize it more everyday.

How many sick, homeless and hungry people would that $700 Billion take care of in the USA?

And WHY is it better to help Wall Street (who is not guaranteed to recover even with the bailout according to analysts) than help people?

In our much touted "culture of life" the values of compassion and charity only seem to apply to the unborn. I get the sense that after birth "You're on your own jack. Don't look for any handouts (help), but once in a while we'll come round and ask for some from you".
 
Wall Street bail out cost

Well, I was courious about just how much it would cost me, as a tax payer, for the proposed 700,000,000,000 (700 billion) Wall Street bail out. So I did a Google for 'US population'. The top hit is from www.cia.gov..... and stated that the US population estamate for July 2007 is 301,139,947. Now I don't know if all of those citizens are of tax paying age, but I took that number and devided 700 billion by it. The results is that it will cost ever one of those citizens an additional $2324.50.
So for my house hold of 3, thats almost an additional $7000 in taxes. All so, IMHO, those CEO's can continue to collect their over bloated paychecks.:censor: :censor: :censor:
Tom
 
i think its a piss poor idea.....dont get me wrong.......will also point out that various ppl....Bush....McCain....Ron Paul to name a few have been actively trying to reign in Fanny Mae and Freddy Mac for the last 6 years but the democrats in congress have blocked any measure for more over sight..........however i will also note that the savings and loan buy out actually made money for the tax payers......given it looks like the feds may be buying all this REAL PROPERTY and not pieces of paper and the fact even as much as housing has crashed its still worth considerably more than 30% of current.....there is no reason if this is handled right why it will cost the tax payers much of anything.....if handled wrong we will be in a depression soon enough........
 
  • #10
This thing will just devalue the dollar further, making oil more expensive, and could even lead to hyperinflation. And a recession follows a period of high inflation. Either way, we will enter a deep recession at the least. Basically, they are just dumping money we don't have on top of the already enormous amounts of debt the country has. In the long term, I think this bailout will hurt us more than if there was no bailout.
 
  • #11
actually i think this plan has more merit:

Hi Everyone,

I'm against the $85,000,000,000 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in

a ''We Deserve It Dividend''.

To make the math simple, let's assume there are 200,000,000

bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman

and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.

My plan is to give $425,000 to every person 18+ as a

'We Deserve It Dividend'.

Of course, it would NOT be tax free.

So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.

That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500 in their pocket.

A husband and wife has $595,000.

What would you do with $297,500 to $595,000 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks

who lost their jobs at Lehman Brothers and every other company

that is cutting back. And of course, for those serving in our Armed
Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ('vote buy') economic incentive that is
being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult
U S Citizen 18+!

As for AIG - liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion

'We Deserve It Dividend' more than I do the geniuses at AIG or in
Washington DC .

And remember, The Family plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

A Creative Guy & Citizen of the Republic
 
  • #12
Sounds like a beefed up stimulus check. It has my vote!

xvart.
 
  • #13
actually i think this plan has more merit:...
:) But it could never work, we'd be investing in people and ideas, not abstract market forces and speculation. How are we going to turn massive profits for a select few? If every man and woman over 18 was able to start up a business and begin to actually do for themselves imagine the tax nightmare for the poor IRS. No,no, it's much better this way, where we only have to worry about the the top 1% of the population and make sure they keep hold of as much of their wealth as possible. I don't have much, the gov may as well take what little I do have and make me a true "wage slave". ;)

The old expression "freedom isn't free" has acquired a new meaning this week, it's gonna cost ya at least $2500 to live under the USA patriot act and the various American Tsars. Since these figures include (man, woman) "and child" we will be footing the bill of all those little squirts as well even though I don't have any myself.

I 'd say it's about time to send those kiddies back into the canneries and textile mills to earn their keep! ;)
 
  • #14
Having just reached 18, I think rattler's idea is wonderful ^^
 
  • #15
Rattler, better recheck your math. 85,000,000,000 devided by 200,000,000 = 425, not 425,000.
Nice thought though.
Tom
 
  • #16
"Those that give up freedom for security deserve neither" Ben Franklin........

would much prefer the companies to fold with no help from the feds.....hell the Feds CAUSED this problem.......their is going to be a depression no matter what.....the bail out just holds it of a few more years and makes the bottom we are going to hit that much farther away and the pain from when we hit it that much worse.........
 
  • #17
BTW guys aint my idea......copy and pasted it from another forum.........am to drugged up to bother checking the math.........besideds the $85 billion suggested up there is far short of what the feds are talking about which is $700 billion
 
  • #18
Rattler, better recheck your math. 85,000,000,000 devided by 200,000,000 = 425, not 425,000.

I heard about this. It's been floating around, and I'm not sure if someone really doesn't know how to divide, or if we have a rather intelligent troll (or perhaps someone pointing out the hysteria.)
 
  • #19
..the bail out just holds it of a few more years and makes the bottom we are going to hit that much farther away and the pain from when we hit it that much worse........
That is my feeling as well, this stunt will only be like playing Russian roulette with the looming economic disaster. How much will it cost next time, and the next, and the time after that? On the up side, perhaps we'll eventually all be billionaires (as they are in Uganda) where their money is neigh worthless. Where three billion dollars (in their money) scores you a can of beans and few pieces of fruit.

My feeling on the "sudden loss of credit" which is so feared will be a very good thing. People have been living "high on the hog" and well above their actual means for at least a decade now. I myself have a few charged up credit cards but at least my home (condo) is paid for and I can groove on that, and worry only about paying off my visas which don't add up to more than half my yearly salary (I could pay them off rather quickly if I made a concerted effort and stopped buying all the books!). But I've watched my aunt go hog wild with the home refinancing scams, buying a new SUV every year or so, all the "happy suburban home" toys. Every kid gets a snowmobile, jetskis, an RV, etc. to raise her little American idol family and they are going to be royally devastated (emotionally) without access to massive amounts of liquid credit (i.e. "invisible cash") as I suspect are many, many Americans. But this hard rap on our psyche will perhaps teach people the value of self restraint and willpower again.
 
  • #20
To add a little food for thought on the bailout, and the additional inflation and even what some analysts are calling 'hyperinflation' that will result.

Hyperinflation refers to an extreme rate of inflation in which the general price level of goods and services—usually measured by the Consumer Price Index (CPI) rises very rapidly. Prices rise so fast that consumers become convinced they will keep rising and try to buy as much as possible today to beat tomorrow’s expected higher prices. Consumers try to spend their money quickly; producers often hoard their goods because they expect to receive higher prices later. Hyperinflation tends to feed on itself, becoming more and more severe. Hyperinflation can destroy an economy because money ceases to perform its traditional functions as medium of exchange, unit of account and store of value. If hyperinflation persists, people lose confidence in their currency and look for alternative currencies—using more stable currencies issued by other countries. The end result is often monetary collapse and social and political unrest. A very low rate of inflation, on the other hand, is conducive to economic growth.

We could be on the verge of a 'paradigm shift' here in the ol' US of A. Imagine a loaf of bread costing $10 or more. Unless one is rich, even common items could become prohibitively expensive. So what's worse, a depression, and the correction that it forces and the resulting return to basics that follows, or hyper-inflation? Pick your poison I guess.
 
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