im sure our forefathers are rolling over in their graves at the mess our government, for the people by the people, is in right now, we are the laughing stock of the world, we can only hope no one tries a 911 type attack right now we'll fall flat on our a**.
congress passed and now intnl stock market...#2
- Thread starter roosmom
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big bertha
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Did anyone see this on the news or read it in print? I heard it the other night and about went through the roof! And just now I heard a reporter saying this number is already up yo $850 Billion. Even though they pulled this amount out of their a**, it is not a SET amount!
""The $700 billion price tag for the failed U.S. government bailout of Wall Street and the financial system was conjured up. Wheres the evidence? Forbes Brian Wingfield and Josh Zumbrun wrote on September 23:
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.
Its not based on any particular data point, a Treasury spokeswoman told Forbes.com Tuesday. We just wanted to choose a really large number.
And you wonder why Americans are suspicious of government
""The $700 billion price tag for the failed U.S. government bailout of Wall Street and the financial system was conjured up. Wheres the evidence? Forbes Brian Wingfield and Josh Zumbrun wrote on September 23:
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.
Its not based on any particular data point, a Treasury spokeswoman told Forbes.com Tuesday. We just wanted to choose a really large number.
And you wonder why Americans are suspicious of government
I am very strongly opposed to this bill, but I haven't said a whole lot about it. Mainly because I don't know or can't find the right words to express what I think about it. I was listening to the radio (a call-in show) at lunch and I heard a couple of callers who said what I was thinking.
One said he was against the bail out and it was because he would rather scratch a living out of the good earth and hunt and fish than to lose his liberty, and he would give up his life if necessary to pass that liberty onto his children.
I completely agree with that.
There was a guest host, Dan, on the radio show who was one of those financial types who was in favor of the bill because he believes the economy will collapse and most companies will go out of business if they can't get credit for anything. (I also oppose this dependence on credit.)
The next guy (and remember, we are Mississippians) said he'd been to "High-fallutin' business school" and remembered his professor in the early 1980's talking about how great a global economy would be because it would allow "the guy" (talking about any generic person) to buy products more cheaply. But now, the caller said, "the guy" who's going to walmart and buying all these cheap products doesn't have a job.
He went on to discredit our dependence on the condition of walstreet, saying that a company who needed to borrow money to make payroll is "insolvent," and he ended with an analogy... He asked Dan,
Caller: Dan, if I had a business and was in trouble and needed a new truck to keep my business running. And I took Dan to the truck dealership and we picked out a stripped out pick up truck...
Dave (the radio host) breaks in and says: Not even a radio?
Caller: Not even air conditioning! And I'm ready to get this truck and Dan has to go get something and he comes back and I'm sitting in a $75,000 <gives name of big fancy truck> and say 'Dan, I can take this truck home if you'll just sign right here," would you sign?
Dan: (pause) No... I think we'd have to...
Caller: We'd have to settle for the stripped down truck. Well, I think we all need to learn to be satisfied with the stripped down truck.
And that's how I feel about it.
Cassandra
One said he was against the bail out and it was because he would rather scratch a living out of the good earth and hunt and fish than to lose his liberty, and he would give up his life if necessary to pass that liberty onto his children.
I completely agree with that.
There was a guest host, Dan, on the radio show who was one of those financial types who was in favor of the bill because he believes the economy will collapse and most companies will go out of business if they can't get credit for anything. (I also oppose this dependence on credit.)
The next guy (and remember, we are Mississippians) said he'd been to "High-fallutin' business school" and remembered his professor in the early 1980's talking about how great a global economy would be because it would allow "the guy" (talking about any generic person) to buy products more cheaply. But now, the caller said, "the guy" who's going to walmart and buying all these cheap products doesn't have a job.
He went on to discredit our dependence on the condition of walstreet, saying that a company who needed to borrow money to make payroll is "insolvent," and he ended with an analogy... He asked Dan,
Caller: Dan, if I had a business and was in trouble and needed a new truck to keep my business running. And I took Dan to the truck dealership and we picked out a stripped out pick up truck...
Dave (the radio host) breaks in and says: Not even a radio?
Caller: Not even air conditioning! And I'm ready to get this truck and Dan has to go get something and he comes back and I'm sitting in a $75,000 <gives name of big fancy truck> and say 'Dan, I can take this truck home if you'll just sign right here," would you sign?
Dan: (pause) No... I think we'd have to...
Caller: We'd have to settle for the stripped down truck. Well, I think we all need to learn to be satisfied with the stripped down truck.
And that's how I feel about it.
Cassandra
Although I agree that the bail-out package is, well, expensive and ill-conceived, I'm not convinced a cold-turkey withdraw from the credit markets is going to do anyone any good either. It might set the stage for the government to take over more than they are proposing with the "bail out." The longer this thing goes back and forth, the more opportunistic provisions get added into it.
Interesting to see what has happened with the cost of oil over the last few days too.
Laughing, right now, because I can hear my DH having a heated phone conversation about the same thing.
Interesting to see what has happened with the cost of oil over the last few days too.
Laughing, right now, because I can hear my DH having a heated phone conversation about the same thing.
Homesteadmom
Frugal Homesteader
The bill is so full of pork it is up to 450 pages for crying out loud!!! Why can't they just focus on the issue & nothing else? No wonder nothing ever gets done in Washington.
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roosmom
Almost Self-Reliant
STILL WAITING, Vote already.....
Quail_Antwerp
Cold is on the Right, Hot is on The Left
I really just want to pass out since they passed the bill. I am now wondering how prepared am I and my family for the down hill ride?
MorelCabin
Quilting Extraordinaire
Look on the bright side...it gives us all more time to prepare for the worst...because we know that eventually it will come. But if we can get ourselves situated now we can avoid being hurt so bad when the bottom finally falls out of the bucket and they can't plug the holes anymore
