Bailout Bill fails......

[Dirtcrasher]

Looks like the house voted no on the bailout bill, I think were headed into some bad times regardless.....

I don't know if there was any truth to the figure, but I was told today that if the bill passed, I could pay thousands in extra federal taxes.

If thats the case, I'm not too friggin excited about that. I didn't take an equity loan, I'm not in debt, I didn't abuse credit cards. Why the F dso I have to help bail people out that lived above there means??

[Louis Mielke]

Yah know I would support a bail out bill if I thought the money that could be made on it wouldn't be wasted.

You know thats not what would happen though. The government could be given a blank check and they still would waste all of it.

[SCEADU]

What kind of work do you do Dcrasher? Does your line of work depend on someone buyin a product you make, haul, or supply? It's all realitive at this point. We all have to pay for the sins of others. It sucks but if something does not happen soon everyone will suffer.


So the guy that overextended himself is in trouble, he does not have the money to purchase the goods you produce. Now you are in trouble and can't afford the product that his company makes. They have less money and lay him off. And the cycle keeps compiling like a big snowball. It's all relative.

[brapp]

unless they pave the country i will always be able to keep a steady trickel of coin in my pocket and why shoudl the average person have to pay for the ignorance and greed of others who want to love the fancy life and cant pay for it.

[DixiePlowboy]

I'm glad it didn't pass! And I hope that any future bill that would bail out banks and companies that got in over thier head fails too.

The best idea I've heard is take half of what the gov is talking about spending - $350 billion instead of $700 billion - and divide that up between all Americans over the age of 18 and give it to us. From what I've heard that would be a BIG chunck of change for all of us. Let us spend the $ and get the economy moving again.


First off, I was very against this bail out crap!

The idea of handing out part of that figure sounds good on it's face, until you consider that the gub'ment doesn't have 350 billion to start with. The only way that figure can be reached is through the mass printing of more fiat dollars, thereby reducing the value of the dollar even further.

See, everytime the government needs money from the Federal Reserve(a non-governmental...for-profit private entity), the government actually commits our federal tax return money to the payment of the INTEREST on the printed value alone. That's right, we pay the Fed interest to print our money.

If this bail out had been passed, it would've only temporarily put off the inevitable collapse, though making the situation much, much worse later. The Bill would've given the Fed, the Treasury Sec., and the President the power to wreak even more havoc than they already have. Goodbye Social security...hope nobody was counting on it to last much longer.

Hold on tight and get ready for a rough ride. The President, the financial and globalist elites just got jilted. I have a strong feeling that they're not going to take this lying down. They've worked hard to engineer this mess and I don't see them giving up when they're so close.

Oh, wait a minute....plan B is coming online:

The Fed. decided today to fire up the printing presses and flood the nation with hundreds of billions more cash. Hello inflationary DEPRESSION!

[TravEX]

Don't let a dog watch your food.

Don't let the government watch your money.

[oldtime3wheeler]

I like the idea of giving the bailout money to the people. If the government had there way there would be 700 politicians and law makers getting billion dollar bonuses.

[Trikeaholic]

Here is an article from 1999 New York Times. It explains how lenders were forced or coerced to lending money to the "disadvantaged". Well, seems a bunch of other irresponsible yo-yo's decided to also get themselves a McMansion and over extended themselves as well. Then, these banks sold the loans to investment companies as "easy money" and now look. Read the article

http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F9582 60&sec=&spon=&pagewanted=1

[DixiePlowboy]

Financial Collapse Plan B. (continued)....

I wonder if it's just a coincidence that the 3rd. Infantry Division's 1st Brigade, fresh from Iraq for nearly 3 years total time in the sandbox in full battle rattle, are about to be deployed(not stationed....DEPLOYED) the first week of October IN the United States. They are to be directly under NorthCom and take a role in "law enforcement support" according to the Sept. 8 Army Times, for a role in helping in case of "civil unrest and crowd control".

Keep in mind folks, these aren't National Guard under a Governor in his/her state, these are Army troops in active duty ABSENT the conditions described in the Insurrection Act.....and therefore ILLEGAL.

I say that .gov. is expecting things to get much worse.

At least they've prepared us some accomodations if we lose our homes, .....or if we give them any grief....

http://www.youtube.com/watch?v=0P-hvPJPTi4

[Trikeaholic]

Financial Collapse Plan B. (continued)....

I say that .gov. is expecting things to get much worse.

At least they've prepared us some accomodations if we lose our homes, .....or if we give them any grief....

http://www.youtube.com/watch?v=0P-hvPJPTi4


Hmm, I watched that and seemed kinda "tin foil hat" type stuff, but I guess I should be glad I work in the jail business, LOL

[DixiePlowboy]

Hmm, I watched that and seemed kinda "tin foil hat" type stuff, but I guess I should be glad I work in the jail business, LOL

It came across that way to me as well in the beginning. I probably should have linked to more in-depth studies/exposes instead of the video, I just thought the vid might hold people's attention a little better.

When you factor in the existance of the REX 84 plan documents, the fact that hundreds of the facilities have been built(mostly unoccupied), the configuration top-in fencing, the enormous size of some, and the money spent on the program,....seems like something's up, doesn't it?

http://en.wikipedia.org/wiki/Rex_84



We know that the political will to remove all illegals doesn't exists, and that there's not going to be drug raids/arrests THAT large, so scratch them off the list of potential residents.

Speaking of tin foil hat conspiracies.....check this out!

http://en.wikipedia.org/wiki/Operation_Northwoods



Our government is capable of some underhanded junk...so I'm not so quick to dismiss everything just because it sounds far-fetched. Just like the engineering of a financial collapse.

[dickieg89]

One of the smartest things i've ever done is not buying a house at the maximum amount that the bank wanted to give me, as we can all see from the current mess, a lot of people did.

[firehart]

Tough Love is what they need. Sure its going to be hard for all of us, but it might be the only way.

[ChrisD]

Granted....I don't want to pay more taxes,nor do I want my children to pay more taxes, but this isssue is not a couple rich people in NY that are in trouble at this point. This is about the infrastructure of the financial markets.

Our country is deep in debt and cash is flying out the door. We are sending record amounts of money to arab countries and China. Money is tight, and our economy is based upon confidence. If you weren't confident that you would get your money back, would you lend your money to anyone? The talk of a global depression are real and may come to fruition if nothing is done. FEAR is the problem and needs to get fixed.

When I hear that farmers can not get financing to buy fertilizer for their crops, it is telling you something. It is not about the rich people anymore, it is about you and me. Things snowball into catastrophic problems and we need to head it off at the pass.

I did not take out the home equity loan nor carry credit card debt or car loans, but do fear what is ahead if people are cut off from the cash flow they need to survive.

I do not want to socialize our financial sector, but the problems are too big to think that a bunch of cash strapped organizations can bail out. A depression is far worse. When we are all employed and idealistic, we will have a much different opinion than when you or your family or me are despirately trying to find a job. I pray that our leaders can find a solution that is fair and well thought out. Unfortumately we may not have the time to figure that out.

Cheers guys! I hope we all can have safe and properous times ahead!!!

[firehart]

I hope they find a way out too. I like going to work everyday.

[DixiePlowboy]

The sooner we realize that this country is bankrupt, the sooner we can set about changing the causes of this instead of putting trillion dollar bandaids on the symptoms. An consumer driven economy based upon credit using a currency backed by nothing...how long did we think it would last?

Face it folks.....we are going to have very hard times ahead. There's no changing that by vote now.

What may last 12-18 months letting the free market repair itself would have probably lasted 10 years had this gov bailout/ buy in/ takeover happened.

We need to prosecute those responsible for this mess(and don't let them tell you it's all borrower's faults), abolish the Federal Reserve system, and return to sound money backed by something real.

[scooterroo]

heres an idea, pay cuts on politicians, not pay raises. make them get out of their dream worlds and actually work for the money they earn. another thought, why not hold these ceo's of these banks and billion dollar institutions that are goign under accountable for the rash decisions they made to get them into this mess in the first place. not give them a nice severance pay package worth millions and tell them to go retire on some sunbaked beach in some tropical location and sip margaritas while the little guy ends up paying for their screw ups.

theres plenty of other ideas i could shout out, but im not trying to make any enemies here or start any arguements.

[TravEX]

I just thought of something, hehe, thanks scoot. Add up all the salaries (over and under the table) of all of the politicians, and divide that amoung our school teachers and educators!