Page 5 of 10 « First 34 5 67 Last »
Reply
Thread Tools
gemniii42 is offline gemniii42
2008-10-03 , 22:55
Posts: 833 | Thanked: 124 times | Joined on Nov 2007 @ Based in the USA
#41
Originally Posted by JoeF View Post
It's not Wall street that's getting bailed out. It's Main street. Just try to picture the economy when there is little or no credit. Just watch your local businesses go down the drain. Half are going to go anyway, it's the other half that they are trying to save. Try and imagine where all that money comes from that allows Visa and Mastercard to lend you money. If nothing was done to shore up the credit markets, the only banks would be Pay DAy Loan outfits. Wall Street has little or nothing to do with this.
This is getting off the central topic, but those of us who HAVE managed to live within our means don't need that much credit. It's the businesses that are constantly borrowing money to get ahead quicker, the people with low-income jobs buying houses I'd like but cannot justify, the janitor with the new Lexus on a loan that's almost his entire salary that need the lines of credit.

I was raised to live within my means and am slightly jealous of all those that have been able to borrow far beyond theirs. I don't see why we have to bail out the overspenders like we did eighteen years ago with the RTC.

Let them come to my bank and borrow my money at my banks rates and rules.
__________________
N810, iGo bt kb, Diablo, 10Gb storage onboard instead of a Thinkpad
OTG w/ unlimited storage!!
Put a penguin in your pocket!!
PLEASE use the Wiki
 
sondjata's Avatar
sondjata is offline sondjata
2008-10-03 , 23:04
Posts: 1,076 | Thanked: 176 times | Joined on Mar 2007
#42
Originally Posted by JoeF View Post
It's not Wall street that's getting bailed out. It's Main street. Just try to picture the economy when there is little or no credit. Just watch your local businesses go down the drain. Half are going to go anyway, it's the other half that they are trying to save. Try and imagine where all that money comes from that allows Visa and Mastercard to lend you money. If nothing was done to shore up the credit markets, the only banks would be Pay DAy Loan outfits. Wall Street has little or nothing to do with this.
Do not believe the hype my man. This whole thing has been a long time coming and started under the Clinton administration. The people on the inside knew full well where this was all going. This whole "we have no credit" stuff is a public hold up. Just you wait.

Credit card companies are already payday loan outfits. Have you seen what Interest they can charge now?

Did you catch what happened with bankruptcy laws?

Do you think these things were accidents?

SEC allowing "self regulation"

Bush signing rules that allowed "certain" banks to not report certain securities and debt to the SEC?

Job growth that occured mostly (as in upwards of 90%) in retail and service and jobs that lead directly to middle class status slowly offshored?

These are the same MOFO's that tell you that so called "Socialized medicine" is bad?

The same MOFO's that wanted to privatize social security because it would cost too much to fund NOW have 700 billion to throw around?

Ain't nobody peeing on me and telling me it's rain.
 
sondjata's Avatar
sondjata is offline sondjata
2008-10-03 , 23:07
Posts: 1,076 | Thanked: 176 times | Joined on Mar 2007
#43
Originally Posted by gemniii42 View Post
This is getting off the central topic, but those of us who HAVE managed to live within our means don't need that much credit. It's the businesses that are constantly borrowing money to get ahead quicker, the people with low-income jobs buying houses I'd like but cannot justify, the janitor with the new Lexus on a loan that's almost his entire salary that need the lines of credit.

I was raised to live within my means and am slightly jealous of all those that have been able to borrow far beyond theirs. I don't see why we have to bail out the overspenders like we did eighteen years ago with the RTC.

Let them come to my bank and borrow my money at my banks rates and rules.

Thank you. Count me in as one of those who live within my means.
 
JoeF is offline JoeF
2008-10-03 , 23:29
Posts: 112 | Thanked: 28 times | Joined on Mar 2008 @ Victoria, BC
#44
Just because this whole economic crisis was caused by deregulation and "free market" antics doesn't mean that it doesn't need fixing. How many people do you think are going to buy a car with cash? How about a truck? How about a CT scanner. This has nothing to do with living within your means.

Palin's chant about "Government get outa my way" is the exact problem. Palin and her ilk want lots of rules for everyone but themselves.
 
penguinbait's Avatar
penguinbait is offline penguinbait
2008-10-03 , 23:41
Posts: 3,096 | Thanked: 1,525 times | Joined on Jan 2006 @ Michigan, USA
#45
Age: Annual mortality Rate: Cumulative Mortality Rate: for a 72-year-old
72 3.30% 3.30%
73 3.61% 6.79%
74 3.95% 10.47%
75 4.34% 14.36%
76 4.78% 18.45%
77 5.25% 22.73%
78 5.74% 27.16%
79 6.28% 31.74%

The typical man of Senator McCain's age faces a one in seven chance of dying before finishing his first term, and a 30 percent chance of not finishing out a second one.

You could argue both sides of, well he is rich so he has an above average chance, or he has spent some hard time in his life.

Regardless of which side you are on, you have to admit the presidency adds 20 years to any president. I can't imagine how old he would look could he actually survive two terms.

McCain and Palin may have energized their base but they are not bringing on anyone else. I think even his base is scared of a possible Palin presidency. God knows it scares the s h i t out of me...


As for the debate, Biden clearly was the winner
__________________
To all my Maemo friends. I will no longer be monitoring any of my threads here on a regular basis. I am no longer supporting anything I did under maemo at maemo.org. If you need some help with something you can reach me at tablethacker.com or www.facebook.com/penguinbait. I have disabled my PM's here, and removed myself from Council email and Community mailing list. There has been some fun times, see you around.
 
Texrat's Avatar
Texrat is offline Texrat
2008-10-03 , 23:51
Posts: 11,700 | Thanked: 10,045 times | Joined on Jun 2006 @ North Texas, USA
#46
Originally Posted by geneven View Post
Some of you think that it will be good to have a President of one team and the House and Senate from another team. (In fact, the Economist once calculated that taxes were lower when the parties in power were split.)
Checks and balances are critical. Gridlock and political antagonism are actually good things, contrary to popular opinion. They force TRUE negotiation rather than cloakroom collusion.

I think we are in serious trouble as a country. We need a unified and rational approach to governing. This is not the time for BS gestures such as impeachment.
Impeachment is not a "bs gesture", and such a blithe, dismissive comment bespeaks an ignorance of the process. Impeachment is yet another crucial tool of checks and balances, and a necessary one. Its rare use is a testament to its effectiveness, ironically. Hopefully I don't have to explain why...
__________________
Nokia Developer Champion
Different <> Wrong | Listen - Judgment = Progress | People + Trust = Success
My personal site: http://texrat.net
Last edited by Texrat; 2008-10-03 at 23:57.
 
penguinbait's Avatar
penguinbait is offline penguinbait
2008-10-03 , 23:54
Posts: 3,096 | Thanked: 1,525 times | Joined on Jan 2006 @ Michigan, USA
#47
[QUOTE=Texrat;230302]
Originally Posted by geneven View Post
Some of you think that it will be good to have a President of one team and the House and Senate from another team. (In fact, the Economist once calculated that taxes were lower when the parties in power were split.)

Checks and balances are critical. Gridlock and political antagonism are actually good things, contrary to popular opinion. They force TRUE negotiation rather than cloakroom collusion.



Impeachment is not a "bs gesture", and such a blithe, dismissive comment bespeaks an ignorance of the process. Impeachment is yet another crucial tool of checks and balances, and a necessary one. Its rare use is a testament to its effectiveness, ironically. Hopefully I don't have to explain why...

Tell you what, let the Dem's have both for 6 years so we can get back to even. Then you can put the checks and balances back. For now, I for one am ready for 6 years of running the other direction, as fast as freaking possible!
__________________
To all my Maemo friends. I will no longer be monitoring any of my threads here on a regular basis. I am no longer supporting anything I did under maemo at maemo.org. If you need some help with something you can reach me at tablethacker.com or www.facebook.com/penguinbait. I have disabled my PM's here, and removed myself from Council email and Community mailing list. There has been some fun times, see you around.
 
Texrat's Avatar
Texrat is offline Texrat
2008-10-03 , 23:56
Posts: 11,700 | Thanked: 10,045 times | Joined on Jun 2006 @ North Texas, USA
#48
Originally Posted by JoeF View Post
Just because this whole economic crisis was caused by deregulation and "free market" antics doesn't mean that it doesn't need fixing. How many people do you think are going to buy a car with cash? How about a truck? How about a CT scanner. This has nothing to do with living within your means.

Palin's chant about "Government get outa my way" is the exact problem. Palin and her ilk want lots of rules for everyone but themselves.
Sondjata (and gemniii42) was correct. A great part of our current financial crisis WAS the result of both businesses and citizens living beyond their means, banking that the good times would roll forever and that each individual involved would be smart enough to get out while the getting was good.

I think we see now how wrong that thinking was.

And now not only are those like me who lived within their means screwed by the collapse (I won't be refinancing my house for a while), we get screwed again by bailing out those who didn't.

Sorry, that's bs of the worst order, and it pisses me off. Too bad I seem to be in the minority...
__________________
Nokia Developer Champion
Different <> Wrong | Listen - Judgment = Progress | People + Trust = Success
My personal site: http://texrat.net
Last edited by Texrat; 2008-10-03 at 23:58.
 
sondjata's Avatar
sondjata is offline sondjata
2008-10-04 , 00:39
Posts: 1,076 | Thanked: 176 times | Joined on Mar 2007
#49
If the belief that main street needed a bailout due to a credit crunch then why not have the govt. take over WAMU and Wachovia and turn them into "the peoples banks" and extend proper credit through them until the "crisis" is over. Put the money right in front of the people who supposedly need it and not in front of the people that committed fraud.

That's just one idea.

Up the FDIC insurance for the people.

Give tax breaks to those who's employers required contributions to 401K and 403B's so that they can recoup some of their inevitable losses.

There were all manner of means to deal with this "crisis" without buying the fraudulently gotten "assets" of speculators.
 
JoeF is offline JoeF
2008-10-04 , 00:41
Posts: 112 | Thanked: 28 times | Joined on Mar 2008 @ Victoria, BC
#50
I agree with you about the causes of this fiasco. I couldn't believe what was going on in the States. No Income No Asset loans? What were they thinking??
I really don't think doing nothing is the right tactic, though maybe a full scale depression would teach everyone a good lesson.
 
Reply
Page 5 of 10 « First 34 5 67 Last »

« Previous Thread | Next Thread »
Thread Tools

 
Forum Jump


All times are GMT. The time now is 09:04.

Contact Us - Home - Archive - Top