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[DCFIREMANN]

Massive govt. spending to send a  big check to each adult citizen devalues the dollar, increases the national debt, and will drive inflation higher - quickly.  Massive govt. spending to bail out businesses is not really any better - either way tax revenues will have to be increased at some point in time to cover the largesse.

South American countries have tried this with disastrous results.

On the other hand, wheelbarrow sales increase substantially since you would need one to carry the money you would need to buy a case of beer.

That is correct. I am against the bail out altogether. I work my A$$ off working 2 jobs to have what I have. I just don't see how people would buy a house they know they won't be able to afford. I guess when times were fat they never thought they would get lean again. We are over due for a recession. A very smart money man once told me recession  was a way to weed out the weak business in this country.

Be Safe

THE DAWG

[RedDevil]

Doh! Now I'll never get elected. Jackasses like Red Devil always checking my facts.....wait a minute those other guys make up stuff as they go too....I still gotta' shot

Thankyewveramuch!!  It's my yob man!!

   

[RedDevil]

Talk like that about my friends and you will never get my vote!
Actually you have already made up my mind!

resqdoc  that's better!

 

Chip, you're a gentleman and a scholar.     (We are talking about Chip here, right?)

   

[BLM777]

That is correct. I am against the bail out altogether. I work my A$$ off working 2 jobs to have what I have. I just don't see how people would buy a house they know they won't be able to afford. I guess when times were fat they never thought they would get lean again. We are over due for a recession. A very smart money man once told me recession  was a way to weed out the weak business in this country.

Be Safe

THE DAWG

Very simple.  The majority of the "toxic loans" were hustled into the Fannie and Freddie debacle via social engineering.  Leading the charge was the likes of Barney Frank and Maxine Waters whose socialistic views encouraged government supported home ownership for everyone.  Most of the people involved had neither the intelligence or experience to realize what they were committing to, but knew another give-a-way program had landed in their laps.  Couple that with super thief Frank Raines (Obama's committed choice for Secretary of the Treasury) lending money to unemployed minorities to meet his bonus numbers on loans and the rest is unfortunate history.  Hard to believe, but the US is not about working 2 jobs, saving and scrimping to own a home anymore.  It's all about you and I supporting the increasing lazy masses breeding even more hands out in the freebie lines.....

[Free]

Very simple.  The majority of the "toxic loans" were hustled into the Fannie and Freddie debacle via social engineering.  Leading the charge was the likes of Barney Frank and Maxine Waters whose socialistic views encouraged government supported home ownership for everyone.  Most of the people involved had neither the intelligence or experience to realize what they were committing to, but knew another give-a-way program had landed in their laps.  Couple that with super thief Frank Raines (Obama's committed choice for Secretary of the Treasury) lending money to unemployed minorities to meet his bonus numbers on loans and the rest is unfortunate history.  Hard to believe, but the US is not about working 2 jobs, saving and scrimping to own a home anymore.  It's all about you and I supporting the increasing lazy masses breeding even more hands out in the freebie lines.....

I am afraid that i have to agree with you 100%. Until we get back some of those traditional values of working hard and saving, we may be stuck in a downturn for quite some time. Lets hope a recession and weak dollar will help to change the balance of trade around and allow us to export our products and create longer term wealth. Now if we can only reign in our crazy government!!!

Free

[SuperMario]

Very simple.  The majority of the "toxic loans" were hustled into the Fannie and Freddie debacle via social engineering.  Leading the charge was the likes of Barney Frank and Maxine Waters whose socialistic views encouraged government supported home ownership for everyone.  Most of the people involved had neither the intelligence or experience to realize what they were committing to, but knew another give-a-way program had landed in their laps.  Couple that with super thief Frank Raines (Obama's committed choice for Secretary of the Treasury) lending money to unemployed minorities to meet his bonus numbers on loans and the rest is unfortunate history.  Hard to believe, but the US is not about working 2 jobs, saving and scrimping to own a home anymore.  It's all about you and I supporting the increasing lazy masses breeding even more hands out in the freebie lines.....

I cannot disagree with a thing you said, BLM777.

[miker]

"increasing lazy masses breeding "

Gubbernment assisted abortion then shows to be a good long term investment...

Lets not breed em ifin we can't feed em!

[VAZHOG]

They are doing the best they can with a Public school education

[FLYNDYNA]

"increasing lazy masses breeding "

Gubbernment assisted abortion then shows to be a good long term investment...

Lets not breed em ifin we can't feed em!

Y'know, you have to have a license to drive a car, ride a motorcycle, go hunting or fishing, hell-even to own a DOG...but any buttfrigging moron can have a kid. "Now, Junior Junior, today I will tell you about all the free stuff you will get by NOT working..."

 Come on over to America, have a baby on the house...then get a house on the house that you can not afford, make sure you pay something towards it and await for the Gobbernmint to help all you poor unfortunate people out. don't you worry your poor little head, corporate America will not have to pay for it...hard-working middle-class Americans will foot the bill...doesn't matter if it is a Democrat , Republican, Independent or highly trained Kazoo playin' big Mouth Billy Bass in office, it's always the same ole crappola...

[grc]

I can't say that I disagree with most of what has been written here.  People in this country, for whatever reason, seem to have lost the value system that served our parent's generation so well.  Everything now is about instant gratification, and not about living within our means and saving for the things we want.  Of course, we could get into a month long discussion of how various elements of our society, big business, and big government have undermined the old values because those things don't keep the economic numbers leaping upward.  How do you increase sales year over year by 10% or more if people use common sense and only spend what they can truly afford, when the typical person hasn't seen a 10% annual increase in purchasing power in their lifetimes?  Easy credit has been the mantra and holy grail of big business and big government, and because the general public fell for the pitch I guess now we blame the unsophisticated poor folks for the failures created by the highly sophisticated and educated "leaders".  How typical, blame the little guy for doing exactly what the big guys convinced them to do.  Seems a lot like the crack dealer blaming the kids he's "hooked" on free samples for the increase in drug addiction.

One comment on the rescue plan for the rich and famous.  If we are going to hold our noses and approve this bailout of Wall Street, we need to insist that the government only purchase actual securities tied directly to mortgages for which there is at least a possibility of recouping our investment.  From what I gather, a major part of the problem is tied to the worthless derivatives that these crooks created and sold to each other, and many/most of these can't even be traced back to the underlying mortgages.  The taxpayer's must not be forced to pay the crooks and thieves for worthless paper just because they can't pawn it off on each other any more.

Jerry

[J-Carr]

I think a lot of the ideas that have been given here are good, but I think there's one major component missing.

We have to let the economy crumble.  Sounds stupid I know, but we need an adjustment. 

First of the housing market.  "Middle Class" homes go for $400,000 - $750,000 depending on where you live?  There is no legit mortgage in the world that makes that affordable to a family making $100,000 a year.  Doable, maybe on the low end, but certainly not on the higher end, and just because it's doable, don't make it good for society.  If we're spending 70% of our income on food and housing, there's nothing left for cars and other goods that keeps America employed.

People have been getting done with college (Gotta get a masters) at 23 and plan to retire before 60.  Life expectancy of about 85 on average.  So you work and produce for society for about 35 years and live off society for about 50... Ummm, don't work. Might of always been that way for the rich, but for the last 20 years even middle class expects this.  Sorry, but society needs producers.

So as much as it sucks, and I hate the fact that my retirement might go away and my house might not double in value in the next 5 years, I think we need for the economy to crumble, let people wake up and see the house of cards that was, and rebuild from the ground up.  Maybe they'll see if they ship all the jobs overseas, no one here will have money to buy things, if they write bad loans, no one will be able to pay them and sustain the banks in the future, and if you don't work you don't get... that the stock market is not a guaranteed lottery.

And if frogs had wings they wouldn't bump they're ass when they hop.  So, a man can dream right?

Ride Safe,
J-Carr

[hogasm]

I hate to see this anywhere but I have had locals, people that were born on this island, tell me that they are willing to loose what they have worked their entire life for and leave the country.

Their plan is to take all the credit cards they have and cash withdrawl to the max and go to Costa Rica or some other Central American country.

How many people in this country are willing to loose everything right now.....since they can't afford what they have....and do what these locals are going to do. I am not so sure that anyone who does this would even have to leave the country. Are we in for a rampant defraud on credit companies?

Scary......and the media just makes it worse...IMHO

[iski]

That is correct. I am against the bail out altogether. I work my A$$ off working 2 jobs to have what I have. I just don't see how people would buy a house they know they won't be able to afford. I guess when times were fat they never thought they would get lean again. We are over due for a recession. A very smart money man once told me recession  was a way to weed out the weak business in this country.

Be Safe

THE DAWG

Neither guy running for president has the balls to say "an occasional recession is actually good for our economy."

You are right - a recession weeds out the poor performers & rewards the ones who are in the best shape.  Nobody wants to hear this apparently.  Instead we hear economic pablum polemics designed to be PC as to liberal or conservative talking points on the issue. 

Instead of the truth  from these guys we get nonsense about tax cuts that will never happen and spending programs that would run the deficit to even more enormous numbers if implemented. 

I also work hard & have worked hard to get what I have got & paid the mortgage off early as a result of the same.  So it's tough for me to feel sympathy to somebody who over guessed their ability to pay a mortgage they should have never taken out in the first place.  The general economic nonsense about this bailout has been dismal to watch & it will be revealed to be a bad product we the taxpayers will be required to pay for.

[Hoist!]

Simple! End the financial crisis and end terrorism immediately! Just take over the Middle East in one fell swoop!!!

Hoist!

[miker]

"Neither guy running for president has the balls to say "an occasional recession is actually good for our economy."

Just like Cliff Clavins brain cell versus alcohol/buffalo versus predator theory...