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cowgal's picture
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The Debt Spiral
Makwa wrote:
Hi Cowgal.......I just finished watching the report on the stock market. Seems the initial reaction to the package is not a good one.

Interesting times.......not good.......just interesting.

Yes, I did find the stock market's reaction interesting today, and not surprising. And I believe it will get worse when people realize that the government throwing money at the problem is not doing anything except prolonging the inevitable. I personally feel the collapse will be even more severe, in addition to the trillions of debt left for our kids and grandkids. Not a pleasant thought at all.

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The Debt Spiral

The stimulus bill should be geared heavier towards infrastructure. I'm a little shocked that they didn't try to do more, or create a creative way to help stabalize the housing market. Then again its so far gone, it probably just needs to ride itself out.

CVC
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The Debt Spiral

SoCo

I opposed the Iraq war from the begining and have been vocal of the cost, but a mistake by the past administration does not absolve a mistake by the current administration.

Bush is not president - Obama is president. Focus on the present and not the past.

This stimilus plan is just a spending plan and will do nothing to stimulate the economy. I believe let the weak businesses and industries fail. We will survive and we will recover and be stronger for it.

15.5 months or so and we will be out of Iraq and have that monkey off our back - unless Obama breaks that promise too.

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The Debt Spiral

Sage of the Sage wrote,

Quote:
Look, the truth is, I'm probably not informed enough on this topic to really be discussing it.

The realization of which makes you smarter than most who are. That little detail certainly hasn't stopped some I can think of. Laugh

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The Debt Spiral

Just a few observations.

Bush is no longer president. That's done and over with.
Obama is president and said he is gonna fix things. Why can't we hold him to the fire?

How can anyone justify taking tax money from people and taking the governments cut and then giving the remnants back to the people will help anyone better than letting them keep their money in the first place?

If you don't work and earn your keep you deserve nothing in return.
If you were working and lost your job the you deserve whatever it takes to get you back on your feet.

If the Banks fail then you are insured by the Government for $100,000 + so only the "rich will be affected.
The Banks really helped themselves to the 1st payout didn't they. Why believe that they wont help themselves to the next?
It makes about as much sense as letting a sloppy mechanic repair your car after he just got thru doing a incompetent repair on the same item. I can hear him now, "just gimme some more money and I'll fix it better than last time".
Of course when the Banks fail Wall St. will also stumble and you'll loose your underpants but hey, there is Risk in investing and if you had money in stocks then that was the risk you took. Should have bought Real Estate or Gold.

I don't believe that there is a sane person alive that would WANT to go to war, but sometimes it is the only option. It's not always about "me". Better to fight them in the streets of Baghdad than in the streets of Boston.

Has anyone here actually talked to someone who was FOR either of these stimulus or Bailout bills?
These Bills are bad and I don't care if it is Obama/Biden, McCain/Palin, Bush/Cheney or Ron Paul, who is pushing it, you wont convince me that it will do more good than harm.

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I don't know anyone in my circle of friends or family that is for any of these bailout/stimulus plans. A couple dem friends are on the fence and are willing to give Obama a chance, but are also quick to add that they don't see how this can all work. Its doesn't make financial sense.

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If this package is actually going to "stimulate" the economy and generate growth, then why did the DOW drop 382 points when the Senate passed it? That ought to tell you something. Wall Street isn't stupid, and they can see where all this is headed.

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The Debt Spiral

I wasn't able to keep up with the news yesterday, so I wathced the 11 o'clock. I hadn't realized they were proposing another bank bailout. Geinther stated something in the effect of 1 1/2 to 2 trillion more?!!! There is your spiral. With this in effect we'd be 3.5 - 4 trillion in the red. Could we actually ever pay that off???? It's like their refinacing the country with a tremendous mortgage.

Makes you wonder if the plan is to have it fail. It would be rather easy at that point to say things are not working, and implace social reform.

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I hope they had a good stockpile of ink......the presses are going to be running overtime to print that many notes.

Scary isn't it. I do not mean to be flippant........but it is either laugh or cry at this point. I pick laugh.

It is hard to even wrap your mind around how much money that is. Cry

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I guess they don't want to print it. They want to borrow it. Who's going to lend it? Last I checked the global economy is shot.

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