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hmmm, maybe they ought to take that 700 billion, or whatever the amount, and divvy it up and send each homeowner a check for their share and say, here-sink or swim. Here's you a share , figure it out your dadgummed self. LOL
SOMETHING TO CHECK OUT CRAZYMA!!!! I posted on our thread too!!Someone sent this to me via email.
> Hi Pals,
>
> I'm against the $85,000,000,000.00 bailout of AIG.
>
> Instead, I'm in favor of giving $85,000,000,000 to
> America in a We Deserve
> It Dividend.
>
> To make the math simple, let's assume there are
> 200,000,000 bonafide U.S.
> Citizens 18+.
>
> Our population is about 301,000,000 +/- counting every
> man, woman and child.
> So 200,000,000 might be a fair stab at adults 18 and up..
>
> So divide 200 million adults 18+ into $85 billion that
> equals $425,000.00.
>
> My plan is to give $425,000 to every person 18+ as a We
> Deserve It Dividend.
>
> Of course, it would NOT be tax free.
>
> So let's assume a tax rate of 30%.
>
> Every individual 18+ has to pay $127,500.00 in taxes.
>
> That sends $25,500,000,000 right back to Uncle Sam.
>
> But it means that every adult 18+ has $297,500.00 in their
> pocket.
>
> A husband and wife has $595,000.00.
>
> What would you do with $297,500.00 to $595,000.00 in your
> family?
>
> Pay off your mortgage - housing crisis solved.
>
> Repay college loans - what a great boost to new grads
>
> Put away money for college - it'll be there
>
> Save in a bank - create money to loan to entrepreneurs.
>
> Buy a new car - create jobs
>
> Invest in the market - capital drives growth
>
> Pay for your parent's medical insurance - health care
> improves
>
> Enable Deadbeat Dads to come clean - or else
>
>
> Remember this is for every adult U S Citizen 18+ including
> the folks who
> lost their jobs at Lehman Brothers and every other company
> that is cutting back.
> And of course, for those serving in our Armed Forces.
>
> If we're going to re-distribute wealth let's
> really do it...instead of
> trickling out a puny $1000.00 ( 'vote buy' )
> economic incentive that is being
> proposed
> by one of our candidates for President.
>
>
> If we're going to do an $85 billion bailout, let's
> bail out every adult U S
> Citizen 18+!
>
> As for AIG - liquidate it.
>
> Sell off its parts.
>
> Let American General go back to being American General.
>
> Sell off the real estate.
>
> Let the private sector bargain hunters cut it up and clean
> it up.
>
> Here's my rationale. We deserve it and AIG
> doesn't.
>
> Sure it's a crazy idea that can 'never work.'
>
> But can you imagine the Coast-To-Coast Block Party!
>
> How do you spell Economic Boom?
>
> I trust my fellow adult Americans to know how to use the
> $85 Billion
>
> We Deserve It Dividend more than I do the geniuses at AIG
> or in Washington
> DC
>
> And remember, The Birk plan only really costs $59.5
> Billion because $25.5
> Billion is returned instantly in taxes to Uncle Sam.
>
> Ahhh...I feel so much better getting that off my chest.
>
> Kindest personal regards,
>
> Birk
>
> T.. J. Birkenmeier, A Creative Guy & Citizen of the
> Republic
>
> PS: Feel free to pass this along to your pals as it's
> either good for a
> laugh or a tear or a very sobering thought on how to best
> use $85 Billion!!
I have 4 emty houses in my street and 1 convicted felon realtor still living for free for over a year who will never be able to refi, and has 2 lis pendens so that will be the next one to go... All who lost their homes had more than 1 home (I have more than 1 also, but I paid cash).....and all gambled with ARM's and trying to buy and flip their homes when the market went down...so I have seen more losing their homes around here...another investor with a mortgage and according to him self, he knows the mortgage broker and they worked a genius deal (went into foreclosure and he took all appliances etc out of the house, just another scum bag), 2 mortgage brokers who only sold ARM's went into foreclosure, etc... not really people I have to feel sorry for so much. So far not 1 foreclosed on their primary home without owning more homes...so IMO the media is not even picking up these stories and that is why I'm totally against the bailout, just from our experience in our neighborhood and I hear a lot since I'm on the HOA committee.
This mess will clean up by itself....We already had lucky home buyers who bought great deals and are maintaining their properties and are greatful for the deal they got and we think they deserve it and they are great neighbors....did the value go down..of course, but they will go up and unless you have to sell, just wait and you won't lose a dime...just wait it out...
I'm used to move every 3 years, but now we wait a little longer, is that too bad, not IMO....but the people who were greedy are whining and crying.
A convicted felon on yours street and he's a realtor? Don't they do background checks on realtors??? wth!! wow!nice!
njsocks.....sounded too good to be true. I've been working on it this morning the old fashioned way. Long division........And according to my calculations, it would only be $425.oo per person.
..there will be 6.5 million U.S. foreclosures during the next five years.
And even if you pay your mortgage on time, foreclosures will likely hurt you, too. Each time a family is kicked out of a home, there's collateral damage to the value of nearby homes. The Center for Responsible Lending says that the closest 50 homes lose an average of $3,000 in equity every time there’s a foreclosure. The organization estimates that 40 million families will lose nearly $350 billion in equity due to foreclosure collateral damage during the next five years.
Bailout ignores all the empty houses - The Red Tape Chronicles - MSNBC.com (http://redtape.msnbc.com/2008/09/bailout-ignores.html#posts - broken link)
*******
Wow. That's a lot of empty houses. With that much supply and so little demand..wait.. so few people able to qualify for a loan....whew! The mind boggles.
won't affect me. I didn't see a meteoric rise and fall.
Each time a family is kicked out of a home, there's collateral damage to the value of nearby homes.
One of the huge reasons for the "collateral damage" is that in the recent past house prices increased far, far above their real objective value and now those prices are slowly coming down to Earth (but still have a long way to go).
Also, the overall state of the nation's economy is contributing greatly to this problem. When jobs are sent overseas, when Americans are displaced from knowledge-based jobs by foreigners on H-1B or L-1 visas (aka "my job was bombed by the H-1B"), and when construction and meat packing jobs are filled by illegal aliens--America ends up with a smaller middle class which means that Americans have less money to spend on housing and real estate. Did I mention that the worldwide Malthusian crisis (too many people wanting to use oil and other natural resources with the population exploding daily) is also playing a role? When Americans spend more money on energy resources and food it means they have less money for housing.
One of the huge reasons for the "collateral damage" is that in the recent past house prices increased far, far above their real objective value and now those prices are slowly coming down to Earth (but still have a long way to go).
Also, the overall state of the nation's economy is contributing greatly to this problem. When jobs are sent overseas, when Americans are displaced from knowledge-based jobs by foreigners on H-1B or L-1 visas (aka "my job was bombed by the H-1B"), and when construction and meat packing jobs are filled by illegal aliens--America ends up with a smaller middle class which means that Americans have less money to spend on housing and real estate. Did I mention that the worldwide Malthusian crisis (too many people wanting to use oil and other natural resources with the population exploding daily) is also playing a role? When Americans spend more money on energy resources and food it means they have less money for housing.
See my post on the "new home sales fall 17%" thread.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,867,001 times
Reputation: 6438
Quote:
Originally Posted by fairmarketvalue
???HUH?
Let’s pretend our government decided to do the “right thing” and give everyone 425,000, the dollar would collapse instantly instead of a slow death march to 2010.
Hyperinflations usually takes a little longer because they occur when the monetary and fiscal authorities of a nation regularly issue large quantities of money to pay for a large stream of government expenditures over time. But in this case you would be mainlining the money directly to the consumer.
Talk about too Much Money Chasing Too Few Good, imagine 425,000 in the hands of each and every consumer in the United States.
Instant hyperinflation no waiting, except when in line at the grocery store with your wheelbarrow full of dollars. That is assuming you get there before the $100 bill becomes worth more as toilet paper than as currency.
So divide 200 million adults 18+ into $85 billion that > equals $425,000.00.
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).....and all gambled with ARM's and trying to buy and flip their homes when the market went down...so I have seen more losing their homes around here...another investor with a mortgage and according to him self, he knows the mortgage broker and they worked a genius deal (went into foreclosure and he took all appliances etc out of the house, just another scum bag), 2 mortgage brokers who only sold ARM's went into foreclosure, etc... not really people I have to feel sorry for so much. So far not 1 foreclosed on their primary home without owning more homes...so IMO the media is not even picking up these stories and that is why I'm totally against the bailout, just from our experience in our neighborhood and I hear a lot since I'm on the HOA committee.
