Real Estate Market / Inflation / Recession / Depression (Denver: mortgage, environment, loans)

[CosmicWizard]

We, the taxpayers are the ones doing the kissing.....and it ain't on anyones rosy red lips.

[Bob from down south]

A couple of decent video clips from dissenting legislators:

YouTube - Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kapture

YouTube - Senator Jim Bunning Comments on Federal Bailout

[sterlinggirl]

Originally Posted by NewAgeRedneck

I think we-the-taxpayers would get more bang for the buck if they took the $700,000,000,000 ( I'm getting carpal tunnel from typing all those zeros! ) and divvied it up among the taxpayers. Using round numbers; $700,000,000,000 / 350,000,000 would provide approximately $2000 for every citizen. At least we'd get SOMETHING out of it!

They're wanting to raise the debt ceiling up to 11.3 Trillion, or almost $32K per person. Can I take out a government backed HELOC to pay my share?

[jazzlover]

Originally Posted by sterlinggirl

They're wanting to raise the debt ceiling up to 11.3 Trillion, or almost $32K per person. Can I take out a government backed HELOC to pay my share?

By the way, here is what $11.3 trillion looks like:

$11,300,000,000,000.

Put another way, 11.3 million million dollars. It's not a typo.

[brightdoglover]

Gee, a trillion here and a trillion there, and pretty soon, you're talking about real money.

(Ah, for the days when the above quote referred to millions, and sounded absurd then).

[Mike from back east]

Originally Posted by brightdoglover

Gee, a trillion here and a trillion there, and pretty soon, you're talking about real money.

(Ah, for the days when the above quote referred to millions, and sounded absurd then).

You're quoting the late Senator Everett McKinley Dirksen of IL. He used to live across the street from my wife, who said he was a nice chap she often saw while he walked his dog along the Potomac River there in Loudoun County, VA.

[2bindenver]

Colorado No. 15 among states for move-ins, an article from Denver Business Journal, reports that more people are moving to Colorado than moving out. A study released Tuesday covering the first 8 months of the year, ranked Colorado No. 15, with 55% of moves being inbound and 44.7% being outbound. The top reason for moving was for a new job or corporate relocation, while the second most common reason was retiring.
Colorado No. 15 among states for move-ins - Denver Business Journal:

[Shuffler]

If that's the case then we should just close this thread...

Hey everybody, Colorado is doing great! No problems here!

[sterlinggirl]

Originally Posted by jazzlover

By the way, here is what $11.3 trillion looks like:

$11,300,000,000,000.

Put another way, 11.3 million million dollars. It's not a typo.

One problem I foresee with increasing the debt limit for a bailout is that once they've borrowed it and start collecting money from payback of the loans, the government will spend that 'new' source of income instead of paying it back. It doesn't matter if they lose everything or actually manage to turn a profit on the deal....we'll be further in debt either way.

One thing that would probably help to collect the money is if the government offered to discount mortgages for the homeowners with one small caveat. They'd have to agree to the same repayment terms as somebody taking out a student loan. (no discharge through bankruptcy, the government can withhold tax returns, etc.)

[Bob from down south]

I saw the President's speech tonight. NO SALE from my little corner of Colorado.

Here's a little trip through history...some 2007 video from our buddies "Helicopter Ben" Bernanke and Hank Paulson telling us that all was well..."contained," I think I heard. To paraphrase Princeton economist Paul Krugman, how can these guys that got it so wrong now be trusted to force us to hasty, hurried giveaway of $1 trillion to the very guys that caused this mess...and how is it they think they can determine the value of assets better than the markets?

YouTube - Bush, Bernanke, Paulson's Own Words on Subprime a Year Ago

This is panic being incited by bankers convinced that the world revolves around them. Let them fall. They fell in the 1920s, and the world did not end. The S&Ls fell in the 1980s and we emerged stronger for it (albeit only temporarily). The addicts are demanding more heroin and telling us we can't stay healthy without it. A lot of it. Too much cheap credit crack is what caused this mess.

These are the same scare tactics that brought us the Patriot Act, the invasion of Iraq, and the economic stimulus--all rushed through with squeals of dire consequences, and all Coyote Ugly when the spiked Kool Aid wore off and the sun rose the next day to put some light on what we took home with us. Vote against any politician that supports this insane bailout.