700 Billion Dollar Bail Out Plan Does Anyone Care?

[Jeffhale]

I am not gonna get into a big discussion with yawl but make a few point here..

1. the general public has no idea of how bad of a financial condition we are in.. This is a world crisis and can been seen in graphs, i can not provide links to these graphs, but if you trade stock, you can see the condition of the financial market in a 1 month 10 year chart.. Trust me here,, it's bad..... it is lower than the condition of what happened in 2001-2003 after 9/11. it is not lower than the numbers then I. E. market numbers were xxx say, and xxx represent 800, in 2002.. the numbers now are yyy, which represents 1,300.. looking at these numbers you'd get the impression 9/11 was worse.. it's not, in the scale of things, we are slightly lower..
the low we are at is a very critical pivot.. we haven't had an attack like 9/11 and our banks are in horrible condition.. but not just ours,, all around the globe.. this time if we fail,, we'll become the germ that infected the whole globe.. Except China, who has 1 trillion in cash on deposit..

We are at the pivotal point in a stock investors view,, that our county is a 'buy' because it is so CHEAP.... But this is not your normal 'buy condition'... it's a dangerous 'buy position'.. it's where the gamblers in the stock market buy.. And I doubt you need an understanding of a gambler.... to get my point..

our banks can not make money now.. they can not take your deposits and loan them out.. especially that many have withdrawn accounts over the FDIC insurance levels 100k..... without that, banks will go broke,, oh yeah, duhh they are already! Fremont, countrywide (who likes country wide any ways ha), Indy mac, Lehman, Wamu, wacovia is on the edge.. ABK their bonding firm is close, AIG as well... just to name the most popular.. GE has bonds and notes related to these companies.. ford, GM and Chrysler cant sell cars, but you knew that..

But japan,, Indonesia as well,, sales orders are down so far they are suffering too, plus several counties who are dependent on our imports.. that;'s fine right,, made in USA better eh?? not if this causes them all to go down right along with us, okey dokey?

This Bill,, bail out ? 'Emergency Economic Stabilization Act of 2008

Whether it works or not is yet to be seen. but it's all we've got to stop the financial crises. and emergency in this one unlike so many other "emergency acts or bill" like in city meetings or such where they use the word every day..,, emergency is the word of reality..

maybe this is caused by lenders with no scruples.. dealing out a house to somebody fresh for the gutter, and that's not our fault.. sure, but we need a band-aide RIGHT NOW.. if you could see the graphs, there's no way you could disagree, .., if you really knew how bad of condition your bank is in right now, you might understand.. even if it's in great shape,, go ask them for a 'regular mortgage' they wont give it too you and wont tell you it's because they ain't got the funds.. plus; "go blame them not us".

I could go on hours in more detail, ha..

However,, this bill,, it's discussed too.. yeah maybe you heard about the stupid arrow deal, ha,,, .39 cent tax is repealed for kids, arrow toys, ha, ha what's that? he he.. it's a junk that should have been 1 never placed,, and 2. should have expired at a set date... there's more, 10 mil here and 10 there, plus 'like 178 mil or something.. for-get-about-um..... can always go back and amend it later if it's stupid..

For new we need the meat...

Plus, surprise, guess what the big deal is about this whole thing?? it's disguised as the 'Emergency Economic Stabilization Act of 2008, but under it is the whole green tax credit bill.. everything you can imagine green, is getting tax credits!!! your home their home,, business, factories, incentives for exploration in solar, Geo thermo, you name it it's there...

there's even bicycle credit condition in the right circumstances.

if you think we don't need no bail out??? don't think of it as bailing out the banks who messed this up,, Think it's bailing out us average Joe's and Sally's cause IT IS!!! ..

the biggest down side?? tax payers buying loans and mortgages at a dime on the dollar???

OK do some simple math here,, If you buy a home for 10 cents on the buck at market value right now.. Right?? 100k home for 10, got it???

How much money did you just make????? The fed is purposing that, they'll buy for .10, maybe even as much as 50% of value....

ask you self,, HOW CAN THEY LOSE???

The FEDS got fannie ma and freddy mac, at 1/30th their value. All those houses aand business loans at a HUGE, HUGE discount..


there is a hitch.. if fed dumped those loans, mortgages,, like our lousy banks and firms that got us into this mess, would, could and have already done???

You can slice your homes value in half too...

Now.. who do you want to hold those loans? Feds, or country wide type companies??


It's a win win!!.. never mind the stupid arrow deal, Rum in Porte Rico,, whatever.. ha, ha..,.

time is of theessence and the charts, graphs clearly show,, we've about 1-2 weeks to spare here now today...

does not mean we'll have a good xmas, or go sweet into next year...

it took us 3-5 years to get into this mess moreove,, it will take near the same to break even..

BTW, my Oil strategy in June is working LOL, slogan: Save the world, make money, short oil to 50!"


graphically or in charts we are in a scenario, of a test, called 'double bottom.'... The double bottom is a test where either you bounce back at the pivotal point,, or,, you fall lower fast.. there's only 2 directions in a double bottom, and we are there.. at the test..

can we pass??? it's up to us all.. All across the global..

it's not time to be selfish, it's time to think global,, Hold that line!!! Hold that Line!!!

[DickWilson]

AAAAmen.

dick wilson

[Bob Orts]

quote:

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Originally posted by JWFITZ

Yes, Bob, I've read it, and you're right. It will do nothing whatsoever. It doesn't address any of the core issues in the slightest, if anything it makes the whole situation worse by allowing banks to keep hiding from scrutiny the actual value of those "undeclared off balance sheet assets."

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And, even sadder is most people have no idea this is not a financial bailout plan, but a cleverly crafted plan to get what otherwise wouldn’t be gotten. So folks, here’s some of what this Financial Crises Bailout/Rescue Plan will provide:
$223 million for Alaskan fishermen.
$10 million to small television and film producers.
$128 million to build NASCAR racing tracks.
$192 million for rum producers in Puerto Rico and Virgin Islands.
$6 million for a company to produce wooden arrows for children.
Oh and let’s not forget the tax breaks to oil companies who are suffering because of declining oil prices.

The financial crisis is not as big as anyone says it is. Yeah there are a few crunches here and there, But, if Congress tells the financial industry go take a hike, bet you they will solve their crises and get on with business. But so long as Uncle Sam is panicking like ordinary people and willing to pull out it’s debit card (taxpayer), why wouldn’t the financials hang on for the possible free money. That’s what they do, make money and they plan on doing in off the government. Think about this, the financials were excellent at creating vast amount of credit where there was none, do people really think they are so stupid not to know how to create a crisis if they want money from taxpayers?

[JWFITZ]

Hi Bob,

There's more, for some reason Puerto Rico is a big player in this too.

The crisis is much bigger than anyone thinks. We haven't even seen its shadow yet.

Duck and cover. I've been following this for 10 years and it's caught me by surprise, mostly.

[DickWilson]

Don't forget these tax breaks also include continuing the renewable energy credits, a 2008 tax year break from the AMT, and Katrina relief. The money for the Alaskan fishermen is in the form of the ability to income average the payments for the Exxon Valdez spill. So when you're forced to use a solar water heater on BI, you benefit from these tax credits which were going away. Its also a relief to find out that having your 401K in the toilet is a minor crunch here or there.

dick wilson

[JWFITZ]

Ok, here's a diatribe.

George Walker Bush is the greatest American president of all time.

Why? He most accurately reflects the sentiment of the American people. Which would be overfed, ignorant, entitled--arrogance. A population that is far more interested in falsehoods that they agree with than truths that are annoying. So, here we are. We payed our money, and we's took's our chances.

Being informed isn't listening to those who share your opinion--it's researching the data and forming an opinion for yourself. Hence our trouble.

So, through basically free credit and outright fraud we through tens of trillions of dollars of paper money at anyone who would sign for it. This of course created demand. Why wouldn't it? Values in near everything increased--but who cared? You could sign the paper! So, real estate especially became very overvalued, but we cannot forget those who actually owned something before the big burst could borrow against it and buy boats, Harley Davidsons, motor homes, and everything else--sure it was all overvalued, but what up?

Well, the question is HOW overvalued is it? 20 percent? That is certain. 50%? 70%? Now you start to get the picture. That house is worth exactly what some bloke at the going wage can afford. Which is, about 120000 bucks, if Fanny Mae and Freddy Mac still existed. We have a LONG way to go to get back to sensible valuations.

The Dow at 7200. Buy.

[hikatz]

Now let's see how much time this buys us! http://www.nytimes.com/?emc=na

[JWFITZ]

Not very, we're starting to see the next wave of problems, which will be massive revenue shortfalls for state and muni government. Californa and New York are especially bad shape. Anybody know how the state of Hawaii looks on the books?

[Bullwinkle]

"George Walker Bush is the greatest American president of all time"


maybe when he is sober

[Jon]

Please be sure to share that hate with the Dims in Congress...

Transplanted Texan
"I am here to chew bubble gum and kick some *** ... and I'm all out of bubble gum"