 Bailouts |
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| Bailouts |
 Sep 26 2008, 01:10 PM
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#46
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Group: Admin Posts: 6,906 Joined: 22-February 06 From: Austin Member No.: 9  |
Oh, granted. My personal example is pretty extreme. Some debt is fine, so long as it's manageable. People getting mortgages that cost half their paycheck, putting a plasma tv on CC when you already have 30k in debt, trading in your car when you're upside down on the original loan... that sort of shit is the problem.
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Sep 26 2008, 01:28 PM
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#47
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 Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
Again though, people racking up that debt isn't the problem. It's racking up the debt and then not making their payments that makes these companies worthless. There are people that rack up $30k in debt and make the payments just fine. Not saying it's a good personal financial decision, but it is what keeps these banks in business.
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Sep 29 2008, 01:05 PM
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#48
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Group: Admin Posts: 6,906 Joined: 22-February 06 From: Austin Member No.: 9 |
Bailout got voted down in the house, stocks are plummeting.
I think I have an anarchist streak, given that my first reaction was to think "burn, baby, burn!" -------------------- |
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Sep 29 2008, 01:10 PM
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#49
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Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
Eh it's just a scare. It seems market reactions are very touchy nowadays. If there's even a hint of problems things plummet, then come back up at a record pace a week or two later. I'm sure we'll be fine. My IRA is business as usual so far today.
In other news, oil dropped back under $100! yay |
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Sep 29 2008, 02:11 PM
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#50
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 Why so serious? Group: Global Moderators Posts: 5,286 Joined: 22-February 06 From: Fate, TX Member No.: 4 |
QUOTE (impala454 @ Sep 29 2008, 02:10 PM)  Eh it's just a scare. It seems market reactions are very touchy nowadays. If there's even a hint of problems things plummet, then come back up at a record pace a week or two later. I'm sure we'll be fine. My IRA is business as usual so far today. In other news, oil dropped back under $100! yay Yeah, example is one word even remotely uttered from the Fed these days seems to send stocks screeching one way or the other for 3 days then it cools down. I'm glad the House had the balls to listen to their constituents. DON'T THROW MONEY AT FAILED BUSINESSES! -------------------- |
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Sep 29 2008, 02:17 PM
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#51
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Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
Looks like we're not the only ones affected either:
http://money.cnn.com/2008/09/29/markets/do...sion=2008092915 QUOTE NEW YORK (CNNMoney.com) -- The U.S. dollar rose against other major currencies Monday as turmoil in the European economy undercut the euro and the pound.
... The dollar's strength comes as the crisis on Wall Street appears to be spreading to the European financial system. In Germany, government regulators and several banks tossed a multibillion euro line of credit to Hypo Real Estate Holding AG in move aimed at preventing the country's second largest commercial property lender from going under. Meanwhile, the British government announced plans to nationalize troubled mortgage lender Bradford & Bingley, taking over the bank's $91 billion mortgage and loan books, in a bid to help stabalize the country's financial stability. Over the weekend, the governments of Belgium, the Netherlands and Luxembourg partially nationalized Dutch-Belgian banking giant Fortis NV with a $16.4 billion rescue after investor confidence in the bank evaporated last week. |
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Sep 29 2008, 03:54 PM
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#52
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 Group: Members Posts: 5,275 Joined: 22-February 06 Member No.: 2 |
It's good the bailout didn't pass.
The Federal Reserve and government intervention is what got us into this mess... more government intervention wouldn't get us out. The proposed bailout and scare tactics was basically a stickup. Imagine Guido robbing your store and then a few days later he offers you "protection" from further robberies if you pay him off; that's exactly what the Federal Reserve did to the American people. 400 economists and historians all agree the bailout not getting passed is a good thing, and if you study the history of Japan, Germany, Russia, and Argentina's financial collapse it looks like we did the right thing by not passing the bill. Examining their history will help us not repeat the same mistakes in the same situation. 
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Sep 29 2008, 11:17 PM
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#53
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Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
It's not about the government intervening to try to get us out of a mess. It's about buying some enormous companies at rock bottom prices. It could potentially be the greatest investment in history. I'm still a little indifferent about it, pass it, don't pass it, either way it will be interesting to see what happens.
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Sep 29 2008, 11:24 PM
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#54
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Group: Members Posts: 5,275 Joined: 22-February 06 Member No.: 2 |
^
| | | lol, NOT government intervention? you amaze me with every post you make |
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Sep 29 2008, 11:35 PM
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#55
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Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
Read the whole sentence geezus Lance. I didn't even say the words "not government intervention". Fucking A.
You said they got us into this mess, and you don't think they can "get us out". It's not about that. There's nothing to "get out of". There's no genius policy that's going to have to be developed. It's a simple matter of either buying out the companies or not. |
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Sep 30 2008, 12:01 AM
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#56
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Group: Members Posts: 10,620 Joined: 23-February 06 From: Houston, TX Member No.: 48 |
It's amazing to me how fucking stupid some of the people can be on here, especially you Lance. Enjoy that delusion you live in.
With the exception of a few who know who they are, this board is full of bumbling idiots who are more worried about how they appear to the rest of the members or how much they can piss someone else off rather than actually discussing topics. It used to be about discussion. It used to be fairly civilized, or if not, at least interesting. Now every topic seems to boil down to someone belittling the person who tried to start a reasonable conversation. I've wasted far too much time on this board. I don't plan to keep wasting it. Save for the aforementioned few, I really don't give a shit what most of you think about anything. Especially since you refuse to discuss anything anyways. Especially since there also hasn't been any new people in what, a year? No surprise since if it's a girl the guys swamp her with the "OMGBOOBTITS" remarks. And if it's a guy the alpha dogs always seem to have to belittle the shit outta him and drive him off before he can so much as give his name. So anyways, this long winded post stemmed from me having the last straw drawn from having some dipshit misread something I post. Enjoy it while you read it, as I'm sure it'll get deleted. Please do me a favor and permanently ban me, so I don't come across this waste of web space ever again. It should make you guys happy, so you can grunt in your cave without further interruption. Later people. Wish I could say it's been fun. It hasn't. |
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Sep 30 2008, 12:41 AM
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#57
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Why so serious? Group: Global Moderators Posts: 5,286 Joined: 22-February 06 From: Fate, TX Member No.: 4 |
Huh, wow...another "going away wah wah" post.
Didn't figure Impala would snap like that though. QUOTE With the exception of a few who know who they are, this board is full of bumbling idiots... Translation: "With the exception of the few that share all of my same views..." -------------------- |
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Sep 30 2008, 12:56 AM
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#58
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 Group: Members Posts: 180 Joined: 23-February 06 From: San Francisco, CA Member No.: 37 |
boob tits
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Sep 30 2008, 08:16 AM
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#59
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Group: Admin Posts: 6,906 Joined: 22-February 06 From: Austin Member No.: 9 |
QUOTE (Psykopath @ Sep 30 2008, 01:41 AM) Translation: "With the exception of the few that share all of my same views..." Nah. I like Impala and have had some good discussions with him. We don't agree most of the time, but at least he keeps things feisty around here. He brings up some good points, though I think the lack of new members is due to a lack of advertising rather than intimidation by the current member base. Whatever happened to getting some Facebook ads up? -------------------- |
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Sep 30 2008, 09:28 AM
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#60
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Group: Members Posts: 5,275 Joined: 22-February 06 Member No.: 2 |
lmao impala must be on his period this week
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