ANOTHER BAILOUT????????

[Heather]

Bernanke: New stimulus package may be needed
Federal Reserve Chairman Ben Bernanke testified today that Congress should look at passing a new stimulus package to try to jump start the economy. "With the economy likely to be weak for several quarters, and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate," he said in prepared testimony.

FULL STORY AT www.cnn.com


Heather

[myronman3]

get used to it.   this is only the start of it.  wait until barack, biden, pelosi, schumer, teddy, frank, and the rest of the leftist fools get their hands on the reigns.   not that the other side is MUCH better, but....

[Troyboy]

Where is my bailout? Oh i'm not a millionaire excuse me.


                                     Troy

[kevthebassman]

Yes, print more paper dollars.  That'll solve everything!   

If you folks haven't moved your savings into inflation-proof investments, now would be a good time.  Actually 2006 would have been a good time, but that time has gone and past.

[torpedoman]

both gold and silver have dropped a bunch and this is a great time to get your money turned into something that will not go down the tube after the election, governments are dumping metals to prop up the dollar but they are going to get tired of shoveling defication against the tide when they realize the feds will not slow the printing presses down.

[myronman3]

watched a tiny bit of the news last night, and there was bush sitting next to bernake, as they were talking about the stimulus....my wife and i both blurted out "you have to be $#!*@!#! me!"    for the first time, i called bush a stupid@$$.  what the hell is he thinking?
   i know i have, as well as many others here have said,  bad times are coming.  if you aint hunkered down yet, you best get your tail in gear.  it dont look good.

[jhm]

What worries the HELL out of me is once it is started it never ends.   Someone here smarter than me name a government welfare program that once started it was dropped, I dont mean REPLACED by another larger program, This is how we are going to end up with a LARGER GOVT. the I want my share croud will be at the polls voting for every thing they can get.   And then they find out that they are nothing but BOUGHT SLAVES!!!   Jim

[Dixie Dude]

Stock up on canned and dry goods, paper products, and LEAD. 

[Heavy C]

Don't forget the powder too.


What is truly shocking is the lack of anger, for lack of a better word, about all of this mess.  Where was the anger when Congress passed the bailout bill despite all of the calls from constituents saying they didn't want it?  Now we have another chunk of cash being pushed through "aimed at mainstreet".  We are headed towards hyper inflation and unbelievably high interest rates.  So high, I think we'll look back on the Carter days as good times.

What is great about capitalism is we have the RIGHT to succeed and we have the RIGHT to fail.  Where did this idea come from that no one can fail, or someone is too big to fail.  It's a bunch of crap and if we don't do something about it now; then we will forever be dependent on the losers in Washington - or at least that is what they will have us believe.

[myronman3]

What is truly shocking is the lack of anger, for lack of a better word, about all of this mess.  Where was the anger when Congress passed the bailout bill despite all of the calls from constituents saying they didn't want it?

i wonder this myself.  the people were ignored.  whoever is in office now,  i dont care who is running against them, i am voting for their opponent.   they are counting on us being sheeple.

[Graybeard]

whoever is in office now,  i dont care who is running against them, i am voting for their opponent.

Does that apply to those who voted against the bail out as well or only those who voted for it? Both my Senators voted against it but my Congressman voted for. I'll vote against the Congressman this time even tho it means voting for a dumocrap to do so. Only one Alabama Congressman voted against even tho both Senators did.

[Singleshotsam]

IMHO it is what some in power want to happen.  It's no secret that we are in a globalized society,  There are many that would wish we had a standard global currency... This is more than likely one more step in making it happen...

I too am making an attempt to vote out those in my district that were pro-bailout. 

[myronman3]

g.b..... in my case, it applies for all of them as my elected reps all voted for the sellout (opps i meant bailout).  sounds your elected reps did right by you and derserve reelection.

[Dixie Dude]

They want Americans to borrow more money, stay in debt, and this stimulates the economy.  It is sad to think it takes getting into debt to stimulate the economy.  The average Japanese saves about 25% of his income because they don't have social security for dissability or retirement, and they do fine.  If you buy to stock up on consumable supplies to beat the coming inflation, that is saving, but it also stimulates the economy some.  There will be coming high inflation, probably by next spring, because the government doesn't have the money coming in to pay for the bailout.  Just print more, but it will be worth less.  Remember Jimmy Carter?

[jimster]

I don't understand why they don't just stop the income taxes coming out of our checks if they want to stimulate the economy.  You don't have to print money, borrow it, all that nonsense.  I figure most of us work 5 months out of the year for taxes confiscated...why not leave most of it in our checks...it would seem like we all just got a big fat raise every week.  These stimulus packages are insane.
Tax cuts are so political now, they think a tax cut is something you get when you file, to get money back they already took.  Most times people don't even qualify for that kind of tax cuts.  Can you imagine if we all ran our houses like this?  We get into deep dept, and then borrow more money and spend twice as much to make things better?  Huh?   Only thing we dont have is a way to print more money right in the garage! 
What is the big deal with just not confiscating near as much to stimulate the economy??  It's money that is already there!  Just we get to spend it instead of them. 

[Graybeard]

You're missing the point Jimster. THEY want to decide how our money is spent. They don't want us making such decisions.

[gypsyman]

I think I have a way to help solve this problem. Never happen, nice to think it might. Problem with nobody raising a real stink, and just sitting on the sidelines is this. Very few people get paid with cash. A check, or, direct deposited to your bank. Those numbers, on a person's check,income tax withheld,S.S., state tax, whatever, are just that. Numbers!
Lets say we paid everbody with cash.Full amount. Nothing withheld. On a Friday. Now, before that person can go back to work on Monday, he/she, physically, has to turn over CASH, to a government employee or representative, to get back into their place of employment. They've held onto that money for a weekend. They could drink it up,gamble, spend it any way they wanted to. BUT, no getting back to work, until they pay they're withholdings.
If more people had to physically take money,cash, and pay tax's, there would be alot more screaming going on about these bailouts.  gypsyman

[Heavy C]

Interesting.

My Senator voted in favor and I will vote against him, but my Congressman voted against it and he will continue to vote for him.

What people need to understand is that the more government does to 'protect' us from financial demise the worse they are making it for all of us.  It is because of them that we are in the mess we are in to begin with.  As I watch some of the hearings going on in Washington the level of hyprocasy is over the top.  To hear Senator Dodd rant about the lack of regulation and irresponsibility of lenders is incredible when he is in charge of the regulators and kept fighting efforts to increase regulation.   

[myronman3]

Interesting.

My Senator voted in favor and I will vote against him, but my Congressman voted against it and he will continue to vote for him.

What people need to understand is that the more government does to 'protect' us from financial demise the worse they are making it for all of us.  It is because of them that we are in the mess we are in to begin with.  As I watch some of the hearings going on in Washington the level of hyprocasy is over the top.  To hear Senator Dodd rant about the lack of regulation and irresponsibility of lenders is incredible when he is in charge of the regulators and kept fighting efforts to increase regulation.   

agreed wholeheartedly.

[magooch]

Yeah, it's called misdirection; the Dumbycrats are masters at it.

[Heather]

Yeah, it's called misdirection; the Dumbycrats are masters at it.

All politicians are masters of misdirection.  Don't make the Republicans feel left out.  Give them their due credit  also.

Heather

[Dixie Dude]

Both my senators and my congressman voted against the bailout.  For what it is worth, Reagan got the libertarian, Christian conservatives, fiscal conservative vote, and the common working man's vote to win both times by a landslide.  He was conservative, but had a Dem congress the whole time.  Couldn't get everything he wanted done. 

[Heather]

I think I have a way to help solve this problem. Never happen, nice to think it might. Problem with nobody raising a real stink, and just sitting on the sidelines is this. Very few people get paid with cash. A check, or, direct deposited to your bank. Those numbers, on a person's check,income tax withheld,S.S., state tax, whatever, are just that. Numbers!
Lets say we paid everbody with cash.Full amount. Nothing withheld. On a Friday. Now, before that person can go back to work on Monday, he/she, physically, has to turn over CASH, to a government employee or representative, to get back into their place of employment. They've held onto that money for a weekend. They could drink it up,gamble, spend it any way they wanted to. BUT, no getting back to work, until they pay they're withholdings.
If more people had to physically take money,cash, and pay tax's, there would be alot more screaming going on about these bailouts.  gypsyman

No doubt that would work!  But then the puppeteers would loose their #1 advantage...IGNORANCE!   

Heather

[Heather]

Recession fears knock stocks
Weak earnings and forecasts add to slowdown fears, dragging the Dow down over 300 points.

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: October 22, 2008: 1:31 PM ET



NEW YORK (CNNMoney.com) -- Stocks tumbled Wednesday afternoon as weak corporate results and forecasts - and slumping commodity prices - amplified fears of a broad recession.

Global markets slid, with Asian and European stocks ending lower. Treasury prices rose, lowering the corresponding yields. The dollar was mixed versus other major currencies. Oil, gas and gold prices fell.

full story 
http://money.cnn.com/2008/10/22/markets/markets_newyork/index.htm?postversion=2008102210

Now I see why they want another bailout...The first one worked so good so fast! 

Heather

[Dixie Dude]

Read Larry Burkett's book, The Coming Economic Earthquake.  He wrote this in 1991 and everything that has happened has happened so far.  He said, because people would run up their charge cards, get large mortgages, and at the same time the fed would have over $10 trillion in debt, and the state and local govn'ts would be over 2 trillion.  There would be no more money to loan, and bills are coming due.  He said the lending institutions and banks would fail first, then the stock market would drop over 800 points, then within 6 months it would drop another 800 points.  He said we are overdue for a depression.  Depressions have happened every 60 years since industrialization.  We are overdue for one.  Each one being worse than the previous, because more and more people are dependent on industrialized jobs and not farming.  In the 1930's about 40% of the people were still on farms.  In the depression of the late 1800's 90% of the people lived on farms, so it wasn't as bad, as well as the 1820's-30's.  He has charts showing the boom and busts history.  In the 1930's the stock market fell first.  People had borrowed money from banks to buy stock.  They couldn't pay it back with the crash, then the banks fell.  This is reverse.  The banks fell because people and govn't owed too much and couldn't pay it back, then the stocks fell.  Now the govn't wants us to charge and borrow our way out, and people aren't doing it.  They should have given every family $100,000 to use for mortgage pay off, school, or retirement.  That would have stimulated things a lot faster than buying up bad debt. 

[-Shaggy-]

Where would they get $100,000 to give to every family?

[Heather]

Where would they get $100,000 to give to every family?

Same way they got over a trillion to give to big business! PRINT IT! 

Heather

[-Shaggy-]

$100,000,000,000,000 would take a long time to print.

[kevthebassman]

Well if they did that, they might as well just make toilet paper legal tender.  That's all that the money would be good for anyway.

[myronman3]

Well if they did that, they might as well just make toilet paper legal tender.  That's all that the money would be good for anyway.

at the rate they are going, dollar bills will be worth about as much as toliet paper shortly.