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i caN haZ bAle out? [or the $700,000,000,000.00 thread]

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  • i caN haZ bAle out? [or the $700,000,000,000.00 thread]

    http://icanhazbailout.com/

    But seriously, no topic about the biggest thing to happen to our economy ever?
    ~~ Veritas simplex oratio est ~~
    No matter how far a wizard goes, he will always come back for his hat. --T. Pratchett

    <---- You know you're getting old when you rely on your forum meta-data to remind you how old you are.


  • #2
    Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

    It's crazy. The government is ALREADY heads over heels in debt to foreign countries and now we're taking $700,000,000,000 (11 zeros) from taxpayers, and claiming the government has to do it, otherwise we'll have a huge depression?

    In my opinion, let these companies fail for making these bad loans. The last thing we want is to start nationalizing failing businesses with an unwanted product (too many homes). We're going bankrupt and our country is being bought out by foreigners. It's time to make some hard decisions now so we can get our way through this mess, not get in it even deeper just to stave off the inevitable.
    Like the server? Become a regular! TGNS Required Reading
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    • #3
      Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

      This whole thing is about market speculation. So much so that they want us (the taxpayer) to pay MORE for these mortgage-backed securities then they're actually worth, so that we can inject yet another artificial price back in the market. It's sick... and is largely why this bailout is almost 1 trillion dollars.

      If we paid for this bailout WHAT THE MARKET IS REALLY WORTH it'd probably be half that amount.

      I'm sorry, but if I see another crappy $40,000 house for sale for $600,000 I'm going to puke. And to think these people are mad because the house is now SOMEWHAT logically priced at around $200,000? So now we the taxpayer are supposed to bail out Wall Street so we can see inflated housing prices again?? I think not.

      If you sift through the language really the ONLY way the taxpayer will come out even or in a profit is basically if we see another overspeculated housing-bubble, or Wall Street magically gives us interest back on each loan they give... which aint gonna happen.

      Nope, let em crash and burn. The market NEEDS a correction, not a bandaid. The DOW should be around 10,000 and a $40,000 house in today's market should be around $200,000 at most. Interest rates should be between 6-8% and let's move on.... gas should be $2/gallon, milk should be $3, and the price of a beer should be $3 not $10. And dammit I'm not paying $20/person to see a movie.

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      • #4
        Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

        Read the Spam and Shotgun Shells thread, Rince :]
        A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

        "$250,000 a year won't get me to Central Park West."

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        • #5
          Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

          Its like there is this giant hole in the boat and instead of fixing the hole everyone is trying to bail the water out or knock new holes in the boat.

          This bailout will not fix the problems that got us here and then what will happen when they ask for the next trillion bailout?
          Battlefield Samurai 'Banzaaaiii!!!

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          • #6
            Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

            My concern is when that bail out "fixes" things and that 700billion dollars hits the open market. Or countries we owe money to start to recall debts. They will see this and think we have the money so why arent we paying people back.....

            The fed needs to really wake up and stop dropping interest rates, that is killing us. We are never going to recover if we keep lowering rates.
            that sounds like a good idea trooper.
            -Vulcan

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            • #7
              Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

              Can I get the government to bail me out my student loans too? We can't afford to have the DeePsix institution fail...


              PR Testing Team: Serious Business.

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              • #8
                Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                Well that depends, DeepSix. Are you a colleague or personal friend of the Treasury Secretary?
                A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                "$250,000 a year won't get me to Central Park West."

                Comment


                • #9
                  Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                  Originally posted by xTYBALTx View Post
                  Well that depends, DeepSix. Are you a colleague or personal friend of the Treasury Secretary?
                  Hahaha!

                  Yeah the shotgun thread lost me. I wanted a thread about cats, graphs, and how we're hosed.

                  Seriously, does anyone think this WONT get done? Is anyone here for it?
                  ~~ Veritas simplex oratio est ~~
                  No matter how far a wizard goes, he will always come back for his hat. --T. Pratchett

                  <---- You know you're getting old when you rely on your forum meta-data to remind you how old you are.

                  Comment


                  • #10
                    Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                    It will happen.
                    A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                    "$250,000 a year won't get me to Central Park West."

                    Comment


                    • #11
                      Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                      For your viewing pleasure:

                      [media]http://www.youtube.com/watch?v=ZUEjRYe7MRk[/media]
                      A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                      "$250,000 a year won't get me to Central Park West."

                      Comment


                      • #12
                        Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                        It will happen and it will be messed up. My only question is how long it will be drug out for political argument purposes.
                        "Sympathy means a lot, coming from Kulmar. I didn't think it was possible.
                        Good luck getting rid of your disease. If you're infected, though, stay away--I can't afford to be a zombie right now.
                        " Ednos


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                        • #13
                          Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                          Originally posted by Rincewind View Post
                          Hahaha!

                          Yeah the shotgun thread lost me. I wanted a thread about cats, graphs, and how we're hosed.

                          Seriously, does anyone think this WONT get done? Is anyone here for it?
                          It is over my head for the most part.

                          I have heard from several "experts" that this won't hurt inflation too much even though we are going to print 700 billion dollars.

                          I have heard most experts say that we have to do it.

                          A precious few say that we should let it all fall apart. I find it interesting that most that say "let it fail" are grumpy old men. Probably with enough safe money so that they could live out the fallout in comfort.

                          One guy said the biggest risk is that the dollar will fall sharply and we could end up like Japan if nothing is done.

                          I will say I like that the first proposed plan is getting raked over the coals by both democrats and republicans alike. The last thing I want to see is the equivalent of the patriot act for the financial crisis.

                          On a personal, gut level I want to see it collapse. There should be pain for stupidity. I would really like to see pain for those geniuses that where the principle players in this mess.

                          But I will have to take the word of the majority of experts in that something has to be done. It won't cost the tax payers 700 billion because the majority of the securities are worth something. Some say we may even profit from it all long term. Still sucks.

                          The most important thing to do now is ensure basic trust of the economy, both foreign and domestic, doesn't disappear. Some sort of action may be necessary, I guess.
                          Iím not racists, I have republican friends. Radio show host.
                          - "The essence of tyranny is the denial of complexity". -Jacob Burkhardt
                          - "A foolish consistency is the hobgoblin of little minds" - Emerson
                          - "People should not be afraid of it's government, government should be afraid of it's People." - Line from V for Vendetta
                          - If software were as unreliable as economic theory, there wouldn't be a plane made of anything other than paper that could get off the ground. Jim Fawcette
                          - "Let me now state what seems to me the decisive objection to any conservatism which deserves to be called such. It is that by its very nature it cannot offer an alternative to the direction in which we are moving." -Friedrich Hayek
                          - "Don't waist your time on me your already the voice inside my head." Blink 182 to my wife

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                          • #14
                            Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                            My concern is when that bail out "fixes" things and that 700billion dollars hits the open market. Or countries we owe money to start to recall debts. They will see this and think we have the money so why arent we paying people back.....
                            Even if this bailout does 'work', the 500 pound gorilla is still in the room. This is just a very expensive bandaid covering a gushing wound. We are over 10 trillion dollars in national debt, our dollar is losing value daily, and oil prices are helping to cripple our economy and drive up inflation and cost of most goods. I'm no economist, but just those facts alone makes things not look very good for at least the next two decades. This credit crisis is just one part of the larger picture.

                            I could rattle on about how this administration has helped accelerate this 30 year crisis in the making, but it won't matter for much longer. The next administration(s) are going to have to get serious about paying off our debt and is likely going to be the end of our global hegemony (although it would save us a TON of money not having to be involved everywhere).

                            And just to add some more fuel on the fire, many of the potentially hostile countries that we are in debt to will recall our debts and exercise economic and political leverage over our leadership. Things are certainly going to get interesting. It's a shame average Americans don't understand anything about how our economy works and how our money system works.
                            Like the server? Become a regular! TGNS Required Reading
                            Answers to every server question? Yes! TGNS FAQ

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                            • #15
                              Re: i caN haZ bAle out? [or the $700,000,000,000.00 thread]

                              There is also concern that we'll end up like Japan if the plan goes through.

                              "I am concerned that the bailout might be the cause of the problem that it purports to solve."
                              A policy of freedom for the individual is the only truly progressive policy. -F.A. Hayek

                              "$250,000 a year won't get me to Central Park West."

                              Comment

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