and the next bailout is..

Discussion in 'Economics' started by canmo, May 12, 2010.

  1. canmo


    It's just crazy world...
    Run to buy homes, there is no risk of foreclosures anymore :( : "The recently unveiled initiatives are not identical, but they have two common themes: Helping the unemployed by subsidizing part or all of their monthly mortgage payments for up to two years and paying down underwater homeowners' loan balances. "
  2. What are you worried about? Clearly the USA has extra cash laying around and can afford these type of experiments!
  3. canmo


    No reasons to worry, everything is fine, everybody is protected by mighty government , the sun is shiny, extra-money grows on trees around, stocks grow, gold grows , everything grows nowdays, even greek bonds grow, man. And if something fails, the mighty government finds responsible for a failure, punish and replace them by others who know to get things growing. Who cares about gov. deficit and tax shortfall ? Naah, it's just numbers somewhere in computers, but sweet homes for unemployed are real stuff, let's go get one.. Let's sacrify ouself to consumer spending, help frugal working savers to get things in order.. Zimbabwe, Zimbabwe is the word :).
  4. S2007S


    These stories are just really unbelievable, I have no clue as to why this would even be pushed through to even be allowed to happen. This isn't even a real economy anymore, all this economy does is create one bubble after the next only to fight each crisis with more liquidity and free money, it has to end somewhere, this is not healthy to keep feeding an already broken system more debt.

    "FREE" money to four states, do you really think its going to stop there, everyone, even those who can afford to make their mortgage payment will be yelling for free money, this is not how the system works. They keep helping people out of foreclosure especially those who could not even afford a house to begin with, now they are handing them more free handouts to avoid foreclosure. If they cannot afford to stay in their house they should foreclose and let the prices adjust accordingly, all consumer advocates according to the story say the government should help cover payments so that their property values don't decline. Are you fucking kidding me, let the houses that should go into foreclosure go into foreclosure and let the remaining houses around those surrounding areas see their values drop. How can this possibly be a free market if intervention keeps getting in the way.
  5. S2007S


    Thats all it is if you think about it, just a bunch of numbers, at this point it doesn't matter if its 13 trillion or 849 trillion its just a number.
  6. drcha


    Well I am beyond stupid to get up and go to work every day and make these mortgage payments. I think sleeping in till 10 and then treating my friends to a nice 3-martini lunch at the Four Seasons would be nice. I'll start tomorrow.
  7. TGregg


    Only suckers work for a living. Why bust your @$$ when you can vote yourself money from somebody else's pocket? Or better yet, "borrow" money from the next few generations! Yeah baby, it's PART-TY TIME! We don't need to work, we can party all day and send the bill to somebody else! Woot! And when we are hung over, we'll get free health care (may not be available until the next democratic administration)! Burn out your liver? Get a new one on the taxpayer's dime. Just be sure to vote in politicians that are shovel ready - shovel ready to dish it out of the treasury.
  8. if you live in america and you are not in debt like crazy, then you're stupid


    if you're really rich and have alot of money saved, you shouldn't be living here, you should be living most of your life in a country where you can buy the law with your money, not in america where the same shitty retarded laws that apply to the average pathetic pussy joe and jessie apply to you too, you should be coming to america for business purposes only, and your business should be in debt like crazy, so you can dump it on the stupid government if they start increasing taxes and think they're smart for doing that

    if you're middle class, you should put any money you have as down payment and get a nice home loan, because you can write that fucking mortgage payment off your measly income, and if you ever lose your crappy job, government will bail you out one way or another

    if you're poor you mostly likely are already sucking on the government and rest of the people, but if you can get any loans in the form of CCs or whatever you better (don't worry, they all do), what's the worst that can happen?!; nothing more than filing for bankruptcy and applying for more government handouts


    this whole system is built on debt, dollar is debt, this country rapes other countries in order to force them to take dollars in return for their resources, labor and services, the cost of raping them is less than 1 cent on the dollar, so basically US is paying less than one percent interest on the money it creates, and yes they are lending it back to you at 5%, but even that's great, because in most countries the interest on debt is much higher and you don't get to pay it back in such small payments, so basically the other countries of the world are financing the US citizen's debt and you're stupid if you don't take it

    tell me what's the worst that can happen, the government is built on debt, if they let a good number of people fall due to debt, they too will come crashing down, so no worries, the worst that can happen is inflation, and for that you better be in debt.
  9. canmo


    You're extremely right, except of one thing - debt is actually a leverage, more leverage - more panic, eye-balls-leveraged system isn't sustained.. If your home is paid off , your car paid off and your CC balance paid off every month - you're not too 'leveraged' - you're not jumping from a roof if you loose a job, you can even cope with your unemployment and even agree for less salary if you're really looking to be employed.. But in world of debt it's all different, you have to pay %% on all you bought - house, car, grocery CC, etc., which is eating your income seamless to you, and waiting to mother of inflation won't help you to pay monthly bills next week, specially when your job is outsourced same time ('cause your employer took 'leveraged buy out' and need to pay interest on loans too). Then all country consumes anti-depressant drugs like crazy from any market move down - because all together are eye-balls-leveraged and can't afford to themselves to see they assets loosing value or jobs outsourced.
    Deleveraging is a huge pain, like detox for drug addicted, and US seems not making this choice until it hits the bottom.The huge question is what - and when - will be a bottom.
  10. there will be no deleveraging, there will be no bottom, there will only be a reset
    #10     May 13, 2010