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Old 09-07-2008, 11:37 PM
 
Location: Los Angeles Area
3,306 posts, read 3,652,342 times
Reputation: 592

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It will take many years to know what the ultimate cost to tax payers will be. It could be nothing, there could be a profit, there could be a modest cost, etc. Some of the bailouts during the depression actually generate a small profit or were tax payer neutral before they were closed.

The reality of this bailout is that its unlikely to cost the tax payers much more than the recent economic stimulus package did.
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Old 02-13-2009, 08:19 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,497,836 times
Reputation: 6378
Time stole my thread headline.

Saving the Real Estate Market By Paying the Neighbor's Mortgage - TIME

....people may not mind taking this road, if the destination is one where housing prices will not be down another 15% or 20% over the next year.

If this wasn't in TIME...I'd consider this the best troll post I've seen in a long time. Normally, trolls don't make me mad. I see right through them as something said to infuriate the reader and to engage them in mindless prattle. This guy's troll-fu is pretty good.

Because that's what we all want right? Housing prices don't need to drop precipitously. It's not like they ran up precipitously, right? It's not like it's a ****ing bubble, right? It's not like the U.S taxpayers and home buyers don't wanna prop up this bull****, right? We all win if you sell your overpriced crap to some chump.

Last edited by 70Ford; 02-13-2009 at 08:40 AM..
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Old 02-13-2009, 08:54 AM
 
2,197 posts, read 6,922,755 times
Reputation: 1698
If the government wants to at least pretend to be equitable about it, here's another suggestion from Time:

A Better Bank Fix: Cut Every Mortgage's Principal - TIME

"Instead, there is a better, cheaper, less risky, more direct way to improve banks' balance sheets and restore confidence. Here's how:

Reduce the outstanding principal on every single mortgage to, say, 70% of the original value. Yes, you read that correctly: Lower every single American's mortgage debt by a fixed percentage."

It's no more idiotic than cherrypicking homeowners to help, shoring up the irresponsible and leaving a lot of the more deserving in the lurch. Stop wasting time and money trying to choose and help 'em all.
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Old 02-13-2009, 09:32 AM
 
Location: Raleigh, NC
9,043 posts, read 12,015,285 times
Reputation: 1395
Quote:
Originally Posted by forest beekeeper View Post
I do not follow how I am paying for my neighbor's home?

Connect the dots for me please.

Keep in mind that only 34 cents of every Federal dollar came from income taxes, now go.
You're using dollars. The Federal Reserve is going to be cranking up the presses to produce many more dollars. Since we're all essentially forced to use dollars (unless you wish to barter food and/or precious metals, possibly illegally in a short time), your existing as well as newly generated dollars will buy less. Debtors will be rejoicing off the backs of savers and the more productive.

Now, I recall you saying that you grow your own food and make your own energy (firewood). If so, you would obviously be less affected as you are less dependent on dollars to run your lifestyle.
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Old 02-13-2009, 01:36 PM
 
Location: Forests of Maine
32,470 posts, read 52,816,350 times
Reputation: 22257
Quote:
Originally Posted by ViewFromThePeak View Post
You're using dollars. The Federal Reserve is going to be cranking up the presses to produce many more dollars. Since we're all essentially forced to use dollars (unless you wish to barter food and/or precious metals, possibly illegally in a short time), your existing as well as newly generated dollars will buy less. Debtors will be rejoicing off the backs of savers and the more productive.

Now, I recall you saying that you grow your own food and make your own energy (firewood). If so, you would obviously be less affected as you are less dependent on dollars to run your lifestyle.
Sorry about the confusion. We are still on-grid using electrical power. We do heat with wood however.

The assumption is that most US households pay roughly $10,900 in 2008 [the IRS standard deduction] in assorted taxes [property taxes, sales taxes, licensing fees, Driving fees, etc]

In years past we spent more than the 'standard deduction' amount. We kept track of all assorted taxes that we paid and instead of using the standard deduction we itemized.

However since my retirement I know that now I am paying much less then the standard deduction amount [$10,900 in 2008].

I do realize that nearly everyone in the US does end up paying some level of taxes, somehow.

I still dont buy the idea that I am paying anyone's mortgage.
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Old 02-13-2009, 04:07 PM
 
Location: Raleigh, NC
9,043 posts, read 12,015,285 times
Reputation: 1395
Quote:
Originally Posted by forest beekeeper View Post
I still dont buy the idea that I am paying anyone's mortgage.
That's why taxation through inflation is so devious. Even though you don't pay taxes, you actually do through devaluation of the currency. So, unless you barter with gold/silver/platinum/food/whatever, you're paying some taxes.

Put it this way, if everyone was suddenly given a million dollars, what do you think your life savings (in dollars) would buy you? Isn't this essentially a huge tax on all the money you've sweated your life for? The bailout pumps a TON of money into the system. Eventually, that is going to show up as massive inflation, robbing EVERYONE of their purchasing power, even clever folks like yourself who've avoided paying taxes.
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Old 02-13-2009, 05:07 PM
 
48,508 posts, read 88,484,687 times
Reputation: 18187
If the banks repay these loans its not like the stimulus at all. From report many would like to do this now but there is a provision in the loan that says in order to do this they must show that they have raised the same amount by private means. This is nothing like the stimulus spending which can mean alot in the future especaily if it fails.
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Old 02-14-2009, 07:03 AM
 
3,734 posts, read 4,834,137 times
Reputation: 4766
Quote:
Originally Posted by 70Ford View Post
Time stole my thread headline.

Saving the Real Estate Market By Paying the Neighbor's Mortgage - TIME

....people may not mind taking this road, if the destination is one where housing prices will not be down another 15% or 20% over the next year.

If this wasn't in TIME...I'd consider this the best troll post I've seen in a long time. Normally, trolls don't make me mad. I see right through them as something said to infuriate the reader and to engage them in mindless prattle. This guy's troll-fu is pretty good.

Because that's what we all want right? Housing prices don't need to drop precipitously. It's not like they ran up precipitously, right? It's not like it's a ****ing bubble, right? It's not like the U.S taxpayers and home buyers don't wanna prop up this bull****, right? We all win if you sell your overpriced crap to some chump.
I can't afford to buy anything, but it's nice to know that I will help others pay for what they can't afford and only they reap the rewards. Yeah, it's nice.
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Old 02-17-2009, 09:02 AM
 
Location: LEAVING CD
22,973 posts, read 24,091,031 times
Reputation: 15586
Quote:
Originally Posted by mbuszu View Post
I hope that those with more economic knowledge than you or I (and the authority to do something significant) are making the right choices at this snapshot in time. Sure the bailout seems ridiculous to us laypeople; but I wonder if letting things go their natural course really would have a better result.

I'll sit back and just keep doing what I'm doing (except investing as much as I was in the stock market) and it'll all probably be ok in the mid to long-term. Seriously folks, try not to get too caught up in all the media hype and hysteria. Our country will survive, the sky is not falling. On the contrary, if we do enter a major recessionary period with massive inflation, so what? There's nothing we can do about it right? Don't go around freaking out and pointing fingers - just be responsible with what you have today, take precautions for the future, and for goodness sake let's vote a new Congress and Executive administration into Governmental office as soon as we can. Ones which are knowledgeable in economics and how to run businesses. That's what we're going to need going forward.
So exactly when should we worry? When the train is coming an we're stuck on the tracks or when it hits us?
I don't think it's "sky is falling" mentality to discuss and point out the signs that things are not going well and point out what to watch for in the future so you can at least prepare. Kind of like earthquake preparedness, you don't know when the big one is coming but odds are it will so preparing now may just save you later. Same with this, right now the goverment is litterally scrambling to keep their heads above water and just throwing things in the pot in hopes of stopping it from boiling over. Will what they've rushed through work? Who knows, they don't even know for sure.
So if they don't know if it's going to work why in the heck should little old me at the bottom of the food chain not worry?
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Old 01-24-2012, 09:58 AM
 
2,401 posts, read 4,224,779 times
Reputation: 2188
That neighbour's house is paid because he/she is in cahoots with the bailout plans & Obama's back pockets... = more money available to "his" mentors, supporters, special groups but not "US" the common USA people.

Yup, these people could be your neighbours.

Oh... and did anyone observe who have migrated in droves to YOUR hometown & country lately???
Who is in abundance with that extra money to spend at YOUR RESTAURANTS lately???

YOUR NEIGHBOURS!!! Right!
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