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SC
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Posted: Fri Oct 10th, 2008 09:27 am | 1st Post |
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What is next 
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JBZ
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Posted: Fri Oct 10th, 2008 09:30 am | 2nd Post |
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SC wrote:
What is next
another 38.7 billion for the crooks. jb
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ob1quixote
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Posted: Fri Oct 10th, 2008 12:08 pm | 3rd Post |
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SC wrote:
What is next
I think public hangings are in order. I dare not say more and disturb the peaceful bliss.
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da_bull
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Posted: Fri Oct 10th, 2008 12:12 pm | 4th Post |
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| I'm thinking yes, I saw somewhere those that benefitted the most from the bailout, will make more money off of the money given to them in the next couple months from all this. Last edited on Fri Oct 10th, 2008 12:13 pm by da_bull
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lostinflorida
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Posted: Fri Oct 10th, 2008 01:50 pm | 5th Post |
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While our home building economy was sinking a year or so back, I argued that it couldn't get as bad as in the early 70's when it happened before. My line of thought was that the median home price back then might have been 50,000 to 75,000. So you had people with cash that could buy the homes. How could the banks possibly take homes with a median price of 250,000 and more and let the loans go belly up? There would not be enough rich people to buy these high priced homes.
Now I know I was wrong.
I think this bail out could have worked, it somehow they insisted the general public were the ones getting assistance. All they have done is take the money and give it to the bankers who helped cause the problem with their greed.
Now if the banks start loaning the money again, they will look at the lower class people who have defaulted on their loans and say, your not worthy.
I fear we have not yet seen the worse. And the fools getting the handouts will just take the money and run.
The only thing I can add is,
God Help Us All.
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nobbie
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Posted: Fri Oct 10th, 2008 01:56 pm | 6th Post |
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The stock market pretty much answered that question. 
Is it the same logic?
A man uses an outhouse and as he's puling up his pants a five dollar bill flips out of his pocket and falls down the hole. It's within reach but sitting on the crap.
He pulls a twenty out of his pocket and throws it down the hole saying "I won't reach down there for five dollars but will for twenty five."
The part that hurts is that you can't get blood from a stone and the people that have, over the years, been frugal and carefull with credit will have to bail out the ones that had a good time while making the mess. 
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nobbie
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Posted: Fri Oct 10th, 2008 02:01 pm | 7th Post |
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Just thought, if you bought a new goldwing a year ago instead of buying stocks, where would you be financially?  or Dow-Jones
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lostinflorida
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Posted: Fri Oct 10th, 2008 06:56 pm | 8th Post |
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I agree with you Nobbie about the ones taking care, having to bail out the ones who didn't. It doesn't make sense.
But we seem to forget that there are so many people that work hard, and due to heritage, family, I can't get the right words to explain it, but they've worked hard their entire lives and tried to do right. It's great to say well they had the same chance I did. But so many didn't.
Only to have people who had money and education, try to own the world and in turn bring down so many.
People who live on the edge of existance, are some of the ones who will loose their jobs first in these situations. They then have no savings to fall back on.
It this doesn't get better quickly, just imagine the people who can't afford rent, food, electric and the other things so many take for granted, living on the streets.
Our depression era will look good compared to what we could see now.
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SC
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Posted: Sat Oct 11th, 2008 02:37 am | 9th Post |
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I think the do-do is about to hit the fan
I know many selling off tangibles (cars, bikes, boats) to pay today’s bills wile stepping in a deeper hole. I know too many skilled workers that where week to week when they had work that are now neck deep in the crapper
I live in a poor state and most of the people I know live in mobile homes on a few acres of land. There is no one that will lend money on a home that can be split & pulled down the road. These people are not part of the problem but are the true victims of this mess. The rich will lose a little money wile the working class poor will lose there homes
At least the price of gas is falling
I’m lucky, at the moment I’m working 7 days 12 to 14 hours but think I have walked into ANOTHER company that is for sale. They are putting too much money (updating 40 year old equipment) into the company wile a bunch of suits walk through
My gut tells me I’ll be out of work just before Santa hooks up the goats to the sled
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nobbie
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Posted: Sat Oct 11th, 2008 04:38 pm | 10th Post |
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SC wrote: I think the do-do is about to hit the fan
And it will fling for a long time.
People in their late 50's and older who are dependant on stock market values for their pensions will suffer. They may suffer doubly if they are pushed into early retirement and reduced income.
The fall-out could last decades as the bitterness will follow them to their graves.
When they do pass on there might not be the windfall inheritances the young ones are expecting as what was left got eaten up.
I plan on cutting back on retail spending until I recoup some losses. That will hurt retail recovery if others do the same. It will be a vicious cycle until things level out.
The leaders seem to push the kick starting of retail sales as a solution. That's what got us into this mess. Thoughtless retail spending and corporate greed. There are some very deep ethics problems here.
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lostinflorida
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Posted: Sun Oct 12th, 2008 01:36 pm | 11th Post |
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Being my nature just has me up early in the mornings, I usually turn on PBS and listen to the normal chatter on the programs discussing the news events. Of course the big talk is the economy.
Today they had a gentleman who said we are looking at some very rough times ahead, world wide.
I listened as he explained the current path that the adminstation has planned should have been started months ago. He worries that we have started trying to repair the system too late and will not be able to keep up with the current list of dying businesses.
Even though he was non-partisian, he spoke highly of the plans that, dare I say it, Obama has if he becomes president.
Even those plans will take a long long time to bring us back to some sort of normalcy.
His description of the current mess is that we have seen "then end of an era" and that our way of life world wide is about to change. The world socialism didn't fit what he thought we were heading for, but the end of capitalism as we current know it is about to end.
And he did agree, too much unregulated credit and greed is the cause of our grief.
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nobbie
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Posted: Sun Oct 12th, 2008 03:36 pm | 12th Post |
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lostinflorida wrote:
His description of the current mess is that we have seen "then end of an era" and that our way of life world wide is about to change. The world socialism didn't fit what he thought we were heading for, but the end of capitalism as we current know it is about to end.
And he did agree, too much unregulated credit and greed is the cause of our grief.
One problem is that there are a lot of people well up in the system that are so wrapped up in long range theories that they have lost sight of reality. As someone put it , So highly educated that they're of no earthly good.
A depressing line of thought about corporations:
Few people would invest in a corporation if it wasn't profitable. If it was only going to grow with inflation why risk your money.
"Real Growth" to a corporation means growing at a rate greater than inflation. In a world wide picture, people have to spend more than they make to satisfy the corporations need for profit. At some point in time people can no longer cover that debt. Are we there yet or can we go one more round? or two? or three?...
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82gl1100iwingman
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Posted: Sun Oct 12th, 2008 08:25 pm | 13th Post |
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| Most of this mess started back in the 90's when the lending institutions like Fannie mae and Feddie Mac were forced by the goverment into doing home loans to people who should not have been home owners. Then the same goverment offiicial who did this made a nice lump of money of the deals. I will not name names here for fear of being too political, but the goverment is the REAL problem. When has the goverment EVER done anything that actually done good for the people nd saved the people money? The 80' under President Reagan.
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Big John .25
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Posted: Sun Oct 12th, 2008 08:42 pm | 14th Post |
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History will most likely be repeated . Could learn a lot from a study of late 1929 to 1940.
Talked so some tourists the other day, and thought they would be fine they had money in the bank. But what if there is no longer a bank or a bank holiday,- they said their deposits were insured by the gov't. Ever try to get money out the gov't or an insurance company.
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ScooterTramp
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Posted: Mon Oct 13th, 2008 02:43 am | 15th Post |
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I remember watching Robert Reich(sp), on a talk show – in the 90’s. He was begging the audience not to save money. Said it would destroy the economy. Going on to say we needed to spend.
After 9/11, Bush told America to keep spending – take vacations. Then bailed out the airlines. That all worked out well, right? Then came the ‘interest only’ loans on houses that were over priced by as much as 30%, in some cases. I listened to people that were paying way more than I could afford to pay for a house.
Way back when, I had to jump through many hoops just to buy a $60,000 house. These people were buying $400,000 houses, with virtually nothing to their name. A lot of cases they lied on the loan forms, with the help of the lenders. What were they thinking?!
Now the government is going to give money to the very corporate parasites that did all this? Unbelievable.
Looks like their New World Order backfired.... Too political? Maybe so, you can decide.
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GoldWingPastor
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Posted: Mon Oct 13th, 2008 09:27 am | 16th Post |
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Pete and Dave I hope you are not having these kinds of issues with PM Mr. Brown. We are not even entirely certain who should be sacked first over here...
Nick
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SC
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Posted: Tue Oct 14th, 2008 02:08 am | 17th Post |
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Two classes
Class one. On top of the heap with health care-RX card and no income worries
Class two. Working two jobs trying to get the kids to class one. No health coverage, no sick days and no way to “rise up” without working non stop living on GRITS & beans
The politician, speculators and other decision makers above all making the rules up as they go
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lostinflorida
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Posted: Tue Oct 14th, 2008 12:26 pm | 18th Post |
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SC wrote: Two classes
Class one. On top of the heap with health care-RX card and no income worries
Class two. Working two jobs trying to get the kids to class one. No health coverage, no sick days and no way to “rise up” without working non stop living on GRITS & beans
The politician, speculators and other decision makers above all making the rules up as they go
This is what so many people don't seem to understand. There are so many good kind people that have just from the toss of the dice found themselves in the gray area in the day of our society.
They just can't run fast enough to get into the dawn of a new life and stay in the shadows forever.
Then something like this crisis hits and it's like daylight savings time, setting them back without them doing anything.
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swampfoxcws
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Posted: Thu Oct 16th, 2008 04:08 am | 19th Post |
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OB, I thought at first you had my home bugged. Then I remembered I hadn't been there for a month!
The first day of the GA rally, I told Cindy, and I quote.." If justice could be done, we would go to Washington, throw ropes over the limbs of the trees in all those pretty city parks, and drag every on of those sons of b#@&*es out of there and hang them. By God, the next ones would think twice before they lied their way in there and robbed us!"
Unfortunately, it's twice as illegal to string up those pigs as it is if one of us got hung, so, of course I was speaking figuratively!! Ahemm!!!
I guess great SC minds think alike, eh?
Must be the BBQ. Mustard-based sauce has a way of sparking rebellious thoughts.
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swampfoxcws
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Posted: Fri Oct 17th, 2008 04:01 am | 20th Post |
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Uh...somebody say something before the FBI comes and gets me! 
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