U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-08-2008, 11:25 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,493,197 times
Reputation: 6378

Advertisements

And SURPRISE! ...you did it this month. No shots were fired, no swords were crossed. Mainstream media yawned.

"Pish-Posh, 'tis but a paltry sum."


In a surprise announcement early Friday, the Federal Reserve said it would inject about $200 billion into the nation’s banking system this month — with more to come after that — by offering banks one-month loans at low rates and in return letting them pledge mortgage-backed bonds and even riskier assets as collateral.

http://www.nytimes.com/2008/03/08/business/08econ.html
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-08-2008, 11:54 AM
 
20,194 posts, read 21,510,025 times
Reputation: 9233
Well, not exactly but you are right in that we pay it through "inflation" tax because of those risky loans... if they go through default, that would be even WORSE... who wants to use "that" as collateral. I read this article yesterday... I believe all the presidential candidates would be "for" this... I believe there was one who wouldn't be... but he isn't running any more..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 01:26 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,493,197 times
Reputation: 6378
I couldn't get a loan with collateral that had little or no worth. Yet, banks can. (I guess its stated worth. WAIT! Stated worth loans??? Ummm....)

This is crap, man.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 02:35 PM
 
1,882 posts, read 4,283,001 times
Reputation: 2667
Read into it what you want, inflation tax? WTF? You want deflation? Oh, yea, the so called "recession". Fuel sure is showing it. The problem is that people bought things they can't pay for. Expect the gov't to help ya out and you'll be ***** up. Take care of yourself finacially and quit expecting the gov't to do it for you. Perfect example is SS, good luck w/that.

Cry, wine, complain all you want. This is an oportunity to me.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 08:40 PM
 
Location: Forests of Maine
32,462 posts, read 52,793,499 times
Reputation: 22256
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 09:35 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,493,197 times
Reputation: 6378
Housing losses will spur bailouts. Bank of America is lobbying for 739 billion at the moment. Consumers will foot the bill through tax increases and/or inflation.

"Government stimulus packages" are put in place to keep people in homes they cannot afford. This ends up socializing the losses while guaranteeing the profits of predatory lenders.

So...the Joe consumer eats the cost...and Mr. Coorporation keeps the money. BOOM. You just paid for your neighbor's house.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 09:47 PM
 
Location: Forests of Maine
32,462 posts, read 52,793,499 times
Reputation: 22256
Quote:
Originally Posted by 70Ford View Post
Housing losses will spur bailouts. Bank of America is lobbying for 739 billion at the moment. Consumers will foot the bill through tax increases and/or inflation.
When I buy a sack of oats from my neighbor [who has not raised his prices since the 1980's], I am funding bank bail-outs?

I don't pay income taxes, and I have been shifting more and more of our expenses to things without sales taxes. When I buy feed I don't pay sales tax.



Quote:
"Government stimulus packages" are put in place to keep people in homes they cannot afford. This ends up socializing the losses while guaranteeing the profits of predatory lenders.

So...the Joe consumer eats the cost...and Mr. Coorporation keeps the money. BOOM. You just paid for your neighbor's house.
Unless you own stock in those corporations, which makes you 'mister corporation' [since corporate profits go to John Doe American who hold those stock].
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-08-2008, 09:59 PM
 
Location: Raleigh, NC
9,043 posts, read 12,012,579 times
Reputation: 1395
Quote:
Originally Posted by forest beekeeper View Post
When I buy a sack of oats from my neighbor [who has not raised his prices since the 1980's], I am funding bank bail-outs?

I don't pay income taxes, and I have been shifting more and more of our expenses to things without sales taxes. When I buy feed I don't pay sales tax.
You are most certainly funding bailouts by buying oats, regardless of how backdoor your transaction is. This is the case because you are buying with monopoly money (aka US dollars). Your loss of purchasing power is reflected by the seller's intended use of the money for a new roof, siding, more land, etc.

Any rational person would raise prices on oats since the purchasing power of the dollar has decreased and he/she can get a better deal anywhere else. Oats as a commodity have skyrocket in price. If this person supposedly has not raised prices for over 20 years, they soon will. I wouldn't buy anyone's story suggesting otherwise. Then again, my stepfather's former neighbor who sold his family wheat was a hillbilly paint sniffer so maybe you're dealing with one of these characters?

The inflation that is making the dollar resemble toilet paper is due to additional printing by the Fed to have money flow to banks, hoping and praying it'll be used to lend hopelessly indebted Americans money for overpriced real estate.

I know you like to think you're getting away with something by not paying income taxes, but you are paying taxes as long as you transact with US dollars and you can't avoid that. Until you barter or trade gold/silver/platinum for products/services, you will continue to be taxed more and more through inflation.


Quote:
Unless you own stock in those corporations, which makes you 'mister corporation' [since corporate profits go to John Doe American who hold those stock].
True, but unfortunately if you buy domestic assets and/or receive dividends reflected in domestic value of the stock, they're denominated in said toilet paper.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-11-2008, 10:09 AM
 
2,775 posts, read 3,236,761 times
Reputation: 3026
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 09-07-2008, 10:53 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,493,197 times
Reputation: 6378
Government takes control of Fannie, Freddie - Mortgage Mess - MSNBC.com (broken link)

Yeah. That's what happens man.

That's what happens.


YouTube - Naruto/Family Guy ( wheres my money)
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6. The time now is 09:01 AM.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top