Market crash: are we there yet ?

[SailorGregS]

Actually Seawolf that may be your problem, your comprehension is leaving much to be desired.

You may want to go back a read what I said. It was more of question versus a blanket statement that you tried to create.

[Bene505]

Originally Posted by SailorGregS

Let me get this straight.

Some of you think Bush is okay, when he's a war criminal. Yet you think Obama is bum because he's trying to help the economy, and get your country out of the toilet. It's really kinda strange reading the comments of some people, is there a bit of racism hidden within the comments.

I sure hope not, but it comes across with a foul stink.

SaiorGregS,

Great apology by the way, on the other thread.

If Obama and the democrats really wanted to fix the economy, there's one very simple way they could do it. The fact that they didn't do it shows me that they aren't serious, but either 1) they misunderstand the problem, markets and capitalism in general -- meaning private enterprise, value, goodness, and yes apple pie if you wish. Or 2) they just want to give their friends money.

Think about it, do they REALLY want to fix the problem of a weak economy, or do they just want to use this as an opportunity, to leverage this for their own ends -- usually a social agenda, but often a transfer of wealth to friends.

Think about it.

All they have to do to fix this whole mess is get out of the way. Just cut income taxes by 1/2. They could very simply use the same IRS forms. Just at the end of the forms, divide the amount in half before you send it in. That would do a HUGE amount of stimulus. I know what I'd buy and so do you.

But then, they wouldn't be able to help their friends as much, would they.

[Bene505]

By the way, if taxes were cut in half, I'd buy a radar. (Good topic for a new thread.)

[SailorGregS]

Thanks man, still getting tons of flak for it though.

I consult for many companies, and the one aspect of their business that banks key on is their balance sheet. If their dept/equity ratio is out of wack then the banks get nervous. They need to rid themselves of this bad debt. That's where the accountants come in and help them with the write downs, the removal of bad debt.

Same with the US banking system. They are drowning in bad debt, really, really bad debt, which is making the foreign investors extremely nervous. Selling American notes and debentures is a real tough sell these days, and the Federal Reserve needs these sales. Sure the plan isn't perfect but the aspects of this plan are to make foreign investors not too nervous about the American economy.

The American people have to get out there spending, and the cash has to flow into their hands to do so.

On the other hand, guys like you, me and others in the forum have to start investing.

[SeaWolf]

Originally Posted by SailorGregS

t's really kinda strange reading the comments of some people, is there a bit of racism hidden within the comments.

Sailor Greg,
It is your quote that drags up race and it's offensive. It's the standard ploy for political activists who want to change the subject.

Perhaps it is you who doesn't understand what is going on. As always, our politicians, in an effort to protect their own interests are trying to make this more complex than it is. AIG failed, abysmally... when they were given bailout money, they misused it, abysmally. Some of that bailout money went to overseas banks. That is NOT what the populous thought would be happening. Our politicians agreed to that misuse and wrote it into the bailout money. What makes you think that more than 60% of the people (taxpayers) who are funding this travesty are wrong? This is a matter of common sense. There comes a point when you have to stop giving bailout money to failed companies that misused funds intended to turn the national economy around.

Loree
Aboard SeaWolf
CruisersLife.com

[SailorGregS]

I understand what you are saying, but if you read all the comments recently here and in other threads it begs the question.

[Cruisingdad]

To quote Bill Cosby: (foul word, filth, foul, foul filtih, filth)... Headline News...

Geithner wants powers to wind down firms like AIG - Yahoo! Finance

YOU HAVE THE POWER YOU MORON! DON'T GIVE THEM 170 BILLION DOLLARS!!!! THEY GO INTO BANCRUPTCY. DISCUSSION OVER.

Lord God please tell me why we have to give them $170B and THEN they try to figure out a way to get more powers to shut the thing down.

Put me squarely in the ANTI-Geithner camp. This guy is absolutely over his head.

Brian

[SeaWolf]

I have read the threads, but they don't address the fact that the amount of bailout money that has already been paid out added to the amount of bailout money that is currently committed exceeds $75,000 per household... and they're still talking about increasing the current bailout totals. The vast majority of US households don't earn $75,000 in a year. It has been a colossal failure to give money to failing companies. It would have been better to distribute the bailout funds to the households/taxpayers/citizens (whatever you want to call them). It would still be better to distribute the remaining funds and any increase in bailout funds to the households. The economy would start moving immediately as people would start to spend the money on goods and services and the failing business might very well be turned around by these purchases... so long as they correct the problems that caused them to fail in the first place. And if they don't correct the problems... good bye and good riddance.

Loree
Aboard SeaWolf
CruisersLife.com

[SeaWolf]

I saw a report that Geithner resigned and Obama refused to accept his resignation. If someone had written a book 10 years ago about what is going on today, no one would have bought it as it's just unbelievable.

Loree
Aboard SeaWolf
CruisersLife.com

[Bene505]

Originally Posted by SeaWolf

I have read the threads, but they don't address the fact that the amount of bailout money that has already been paid out added to the amount of bailout money that is currently committed exceeds $75,000 per household... and they're still talking about increasing the current bailout totals. The vast majority of US households don't earn $75,000 in a year. It has been a colossal failure to give money to failing companies. It would have been better to distribute the bailout funds to the households/taxpayers/citizens (whatever you want to call them). It would still be better to distribute the remaining funds and any increase in bailout funds to the households. The economy would start moving immediately as people would start to spend the money on goods and services and the failing business might very well be turned around by these purchases... so long as they correct the problems that caused them to fail in the first place. And if they don't correct the problems... good bye and good riddance.

Loree
Aboard SeaWolf
CruisersLife.com

This couples well with what I said about cutting income taxes in half. Heck, eliminate income tax for a year and watch how fast things grow!