The state of the US economy

[ALLO]

Is anyone following this disaster? MS WETBACK, I am surprised you haven't posted anything about it. I cannot believe what Bush is doing, bailing out all these companies, holy shit. Bailouts totaling over 1 trillion dollars. 1 fucking trillion dollars, and the sad part is thast we haven't even scraped the tip of this huge mortgage and credit mess. Where the fuck does he think all this money is going to come from? Why don't we jsut have the federal reserve print up 1 trillion dollars and drive the value fo thye dollar right into the ground?

 

[Ms.Wetback]

Allo,

I know it and am stupefied by it. We are turning into a socialist nation that is debt ridden.

I gave up posting up about things of this nature, not enough conversation to warrant it.

 

[liftsiron]

And the real pisser according to the news the top dogs who fucked up and ran these compaines into the ground are getting multi-million dollar severance packages with tax payer money.

 

[Ms.Wetback]

And then we look at this foolishness: "Earlier this year, court documents revealed that Britney Spears doesn't save any of her $737,000 monthly income."

 

[ALLO]

And then we look at this foolishness: "Earlier this year, court documents revealed that Britney Spears doesn't save any of her $737,000 monthly income."

LOL. I never thought there would come a day where I would agree with a democrat, much less a liberal demo such as Nancy Pelosi, BUT, and it is a big BUT, if she stands her ground, and refuses to just hand over a 700 billion dollar check to Bush, I will be in complete agreement with her. Anyone who has not read what Bush wants and what Treasury Sec Paulson wants, you need to read it. Bush wants Paulson to have COMPLETE CONTROL, without having to answer to any court, none. I just can't believe how serious this is, and the lack of interest by americans. IMO, every single one of those elected officials who vote for this garbage and put the price tag on the back of tax payers ought to be kicked out of Congress this November( if they are up for re election). These companies should be allowe4d to go bankrupt, and the executives should be led away in gold handcuffs to prison.

 

[Ms.Wetback]

I think she will loose the battle, and 90% of Americans have no clue what is happening and think the bailout is a good thing. Problem is now, if they reneg then the markets will crap out again and the masses will go into a panic.

As we sit now the futures are down 130 for tomorrow's opening.

 

[ALLO]

I think she will loose the battle, and 90% of Americans have no clue what is happening and think the bailout is a good thing. Problem is now, if they reneg then the markets will crap out again and the masses will go into a panic.

As we sit now the futures are down 130 for tomorrow's opening.

This bailout is for bad debts RIGHT NOW. I read a report on bloomberg the other day that says "stated income loans" that were given in late 2005 and 2006 are coming up in the next few months with the reset rates. On the surface, one would think, ahh, who cares, but this little tidbit about halfway through the article read that AT LEAST 30 PERCENT OF THESE LOANS ARE ALREADY 60 DAYS PAST DUE. OK Bush, where exactly does the next 700 billion to a trillion come from to cover THOSE LOSSES? This is a very ill thought out plan by the people in Washington. Look for a further devaluation of the dollar and inflation to rise.

 

[JrMaFia]

It is known finance 101 you cannot just print more money it devalues your deccurrency and our currency is already under-valued compared to alot of other world currencies. BUt in bush's defense this started in the clinton administration when he start relaxing the laws.

 

[ALLO]

It is known finance 101 you cannot just print more money it devalues your deccurrency and our currency is already under-valued compared to alot of other world currencies. BUt in bush's defense this started in the clinton administration when he start relaxing the laws.

Agreed 100% about this starting under Clinton. You can trace this mess right back to him and his idiotic administrations demand that lenders put more minority and low income people in homes. I don't give a damn what anyone says, there are just some people who are not cut out to be homeowners, not only because of the responsibility of keeping up a home, but for fucks sake, ignoring credit status, income and job stability as criteria for a home loan is just plain stupid. There is no doubt the bulk of this can be laid at Clinton and his administrations feet.

 

[JrMaFia]

that and he got rid of the glass-stegal act. Made it legal for banks to be involved in stock market. Before that it was not allowed becauase it was considered vested interest.

I love it though, how ignorant people can be. Some idiot this weekend i heard say bush is to blame for the economy. THe same person said bush was an idiot. I had to remind that person bush graduated from yale and was a pilot, although i do not agree with his moves he was a better candidate that ozone Al, and John kerry. Just like in this election i like stances both candidates take but i like mccain because of experience, i would vote for obama in a few years after he sat in senate and got some experience. THe best are people that are voting obama and don't know his stance on major topics those people are just idiots. IT is a shame i live in NY and my vote will not count because i generally vote republican.