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View Poll Results: Is the bail out right answer for the future?
Short term Solution. 12 35.29%
Yes! Long term Solution. 1 2.94%
Yes! but the companies should return this money back. 2 5.88%
NO! Let them Rot.Stop Golden umbrella for CEO's. 11 32.35%
Are you kidding me. This is to save the CEO's. 8 23.53%
This will help the people in long run. 0 0%
Voters: 34. You may not vote on this poll

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Old 09-27-2008, 03:39 AM
 
Location: Triangle Area
93 posts, read 275,422 times
Reputation: 30

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What do you all think? Is it the answer? Everyone is on the edge and looking for an answer. I think this is a short term solution. Looking for your views.
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Old 09-27-2008, 04:53 AM
 
Location: western East Roman Empire
8,471 posts, read 12,375,738 times
Reputation: 8773
According to one estimate, the US has allocated some $2 trillion, or around 14% of its GDP, worth of inefficient housing to relatively unproductive people (this is in addition to vehicles, myriad consumer goods, overpriced education, and overpriced health insurance and services).

The proposed policy is continue subsidizing these people and the financial structure that supports them.

Among others, this policy is bleeding the country, at varying speeds, turning it into a second rate mediocrity at best, a basket case at worst.

I do not view the drying up of mortgage loans, car loans, consumer loans, student loans as a very grave problem that requires a $700 billion intervention.

If the payments system were at risk of freezing, jeopardizing transport, utilities and food, I could understand emergency intervention. But I do not believe this is the case, at least right now.

Most likely the people in charge of the financial structure that subsidizes the housing sector and reckless consumption are extorting the healthy part of the US economy.

The best solution is to remove these people from this housing, raze these inefficient structures that nobody knows how to value properly, put these people to work building new infrastructure mainly to restore basic manufacturing and modernize energy, and build basic barracks near these sites so that the workers can walk to work.

Men like Alan Greenspan and any officers in failed financial institutions and any politicians receiving lobby money from failed financial institutions should be made to work alongside these displaced housing deadbeats in rebuilding the country's manufacturing and energy infrastructure.
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Old 09-27-2008, 04:57 AM
 
Location: Hell with the lid off, baby!
2,193 posts, read 5,457,663 times
Reputation: 380
Quote:
Originally Posted by bale002 View Post
According to one estimate, the US has allocated some $2 trillion, or around 14% of its GDP, worth of inefficient housing to relatively unproductive people (this is in addition to vehicles, myriad consumer goods, overpriced education, and overpriced health insurance and services).

The proposed policy is continue subsidizing these people and the financial structure that supports them.

Among others, this policy is bleeding the country, at varying speeds, turning it into a second rate mediocrity at best, a basket case at worst.

I do not view the drying up of mortgage loans, car loans, consumer loans, student loans as a very grave problem that requires a $700 billion intervention.

If the payments system were at risk of freezing, jeopardizing transport, utilities and food, I could understand emergency intervention. But I do not believe this is the case, at least right now.

Most likely the people in charge of the financial structure that subsidizes the housing sector and reckless consumption are extorting the healthy part of the US economy.

The best solution is to remove these people from this housing, raze these inefficient structures that nobody knows how to value properly, put these people to work building new infrastructure mainly to restore basic manufacturing and modernize energy, and build basic barracks near these sites so that the workers can walk to work.

Men like Alan Greenspan and any officers in failed financial institutions and any politicians receiving lobby money from failed financial institutions should be made to work alongside these displaced housing deadbeats in rebuilding the country's manufacturing and energy infrastructure.
Please e-mail this to your representatives. Such a novel idea Absolutely Brilliant!!!
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Old 09-27-2008, 05:01 AM
 
Location: western East Roman Empire
8,471 posts, read 12,375,738 times
Reputation: 8773
Quote:
Originally Posted by dugdogmaster View Post
Please e-mail this to your representatives. Such a novel idea Absolutely Brilliant!!!

They are all immeasurably corrupt. Better would be to send it to the CEOs of healthy companies with a stake in US manufacturing and energy infrastructure.
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Old 09-27-2008, 05:59 AM
 
Location: Hell with the lid off, baby!
2,193 posts, read 5,457,663 times
Reputation: 380
Quote:
Originally Posted by aahlawat View Post
What do you all think? Is it the answer? Everyone is on the edge and looking for an answer. I think this is a short term solution. Looking for your views.
No, it's not the only solution. Biased medias and our current President, sadly, would like to make you believe so, but it's not. It's a free market, it should be allowed to remain free. Free markets have their tumbles. Especially when everything in it is over inflated, and everything comes to a head, as it did last week. However, some change is obviously needed.
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Old 09-27-2008, 10:15 AM
 
2,197 posts, read 7,014,019 times
Reputation: 1698
It's a long road back to capitalism and any sort of pseudo-free market economy. The massive entitlements we've been handing out for decades have had us inching toward a socialist society for some time; the unprecedented bailouts we're now enacting will put us squarely on that path. The instigators like to pretend otherwise, but we are no longer capitalistic, we are no longer democratic and we are no longer independent. Just ask the foreign countries who own billions of dollars (soon to be trillions) worth of our notes and have purchased growing positions in our strategic financial institutions. We have put ourselves at their mercy by trading their money for our freedom.

It's only a desperate short-term solution to stop the bleeding and curtail the panic. They're just buying time. Long-term, there are many cooks stirring the pot, so who knows what the result will be. But throwing money we don't have against the problem isn't the answer. And the problem is bigger than any presidential candidate can fix.
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Old 09-27-2008, 10:45 AM
 
Location: LEAVING CD
22,973 posts, read 24,723,340 times
Reputation: 15600
Just on the news:
Sen Gregg and another senator: if this deal isn't done by Monday or Tuesday all credit will stop if most hasn't already. All atm's could shut down, all loans will cease etc.
He gave the analogy that it's like a car wreck on the highway where a big semi is blocking all lanes with ATM cars,all credit of any type and all available money behind the semi and the bailout is the tow truck removing the blockage.
Boy that'd be interesting if true, hope y'all have cash on hand...
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Old 09-27-2008, 12:49 PM
 
4,271 posts, read 14,558,075 times
Reputation: 3407
None of the choices I totally agree with. I think that something needs to be done. $700B is not the answer but without gov't intervention, it's just going to get worse before it gets better. We're already going down that path and and I speculate if nothing is done, we are going to be looking at tougher times ahead of us.

My concern is this: How much has the gov't spent so far and if $700B really is the only answer, what's the real cost of the $700B? I imagine the actual number is going to be much, much more than that and ultimately fear maybe there is no real solution.
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Old 09-27-2008, 01:10 PM
 
516 posts, read 1,797,129 times
Reputation: 271
Quote:
Originally Posted by dugdogmaster View Post
No, it's not the only solution. Biased medias and our current President, sadly, would like to make you believe so, but it's not.
Don't forget Congress.
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Old 09-27-2008, 01:12 PM
 
516 posts, read 1,797,129 times
Reputation: 271
Quote:
Originally Posted by jimj View Post
Just on the news:
Sen Gregg and another senator: if this deal isn't done by Monday or Tuesday all credit will stop if most hasn't already. All atm's could shut down, all loans will cease etc.
Talk about fear-mongering...
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