Let it collapse. The only ones that will be affected are the dopes that got in over their head in the first place. There will ALWAYS be a market for real estate. What's so bad about letting markets do what they do?
this whole thing is about the 08 election...they need to stave off a collapse and the easy way is to monetize the junk paper and shove it back out the door with a government guarantee.............. current holders of bonds and US dollars get screwed..... the supply of extra paper resembles a bottomless pit
They can only print so much paper and borrow debt from other countries for so long. Sooner or later we will have Inflation or worse Deflation. If there was ever a time in US history when a total economic meltdown was possible I would say it's now. That would be a good thing by the way because the system is clogged with greed and we need to clean the pipes.
As a liberal, it pains me to say this, but I agree with every word. This is one issue where Congressional Democrats are and always have been on the wrong side. Martin
if you really want to vomit in your oatmeal, give Pelosi's comments on the stock market a try..... > >>> Nancy Pelosi condemned the new record highs of the stock market > >>> as "just another example of Bush policies helping the rich get richer". > >>> "First Bush cut taxes for the rich and the economy has rebounded with new > >>> record low unemployment rates, which only means wealthy employers are > >>> getting even wealthier at the expense of the underpaid working class". > >>> > >>> She went on to say "Despite the billions of dollars being spent in > >>> Iraqour economy is still strong and government tax revenues are at all time > >>> highs. What this really means is that business is exploiting the war > >>> effort and working Americans, just to put money in their own pockets". > >>> > >>> When questioned about recent stock market highs she responded "Only > >>> the rich benefit from these record highs. Working Americans, welfare > >>> recipients, the unemployed and minorities are not sharing in these obscene record > >>> highs". There is no question these windfall profits and income created by > >>> the Bush administration need to be taxed at 100% rate and those dollars > >>> redistributed to the poor and working class". Profits from the stock market > >>> do not reward the hard work of our working class who, by their hard work, > >>> are responsible for generating these corporate profits that create stock > >>> market profits for the rich. We in congress will need to address this issue to > >>> either tax these profits or to control the stock market to prevent this > >>> unearned income t o flow to the rich." > >>> > >>> When asked about the fact that over 80% of all Americans have > >>> investments in mutual funds, retirement funds, 401Ks, and the stock market she > >>> replied "That may be true, but probably only 5% account for 90% of all > >>> these investment dollars. That's just more "trickle down" economics claiming > >>> that if a corporation is successful that everyone from the CEO to the > >>> floor sweeper benefit from higher wages and job security which is ridiculous". > >>> "How much of this 'trickle down' ever gets to the unemployed and > >>> minorities in our county? None, and that's the tragedy of these stock market > >>> highs." > >>> > >>> "We democrats are going to address this issue after the election > >>> when we take control of the congress. We will return to the 60% to 80% tax > >>> rates on the rich and we will be able to take at least 30% of all current > >>> lower income tax payers off the rolls and increase government income > >>> substantially." We need to work toward the goal of equalizing income in our > >>> country and at the same time limiting the amount the rich can invest." > >>> > >>> When asked how these new tax dollars would be spent, she replied : > >>> "We need to raise the standard of living of our poor, unemployed and > >>> minorities. For example, we have an estimated 12 million illegal immigrants in > >>> our country who need our help along with millions of unemployed > >>> minorities. Stock market windfall profits taxes could go a long ways to guarantee > >>> these people the standard of living they would like to have as 'Americans'." > >>>
You really had me ready to puke there. BUT THAT PELOSI STUFF WAS JUST AN URBAN LEGEND. From About.com Urban Legends and Folklore Circulating via email, purported statements by Speaker of the House Nancy Pelosi condemning stock market profit-taking and advocating redistribution of wealth via a 100% windfall tax. Description: Email hoax / Satire Circulating since: Oct. 2006 Status: False I'm actually not defending Pelosi; she may be as big an idiot as Bush for all I know (I do observe enough to stand behind my statement about W.).
3rd do nothing. A new set of derivatives will pop up. Now we won't have another housing bubble for 2 1/2 years!