the sky is falling!!!

Discussion in 'Chit-Chat' started by silentheart, Aug 10, 2007.

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  1. cooler

    cooler Regular Member

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    I'm very sure BO modeled his election campagin to Franklin D. Roosevelt's The First 100 Days concept. What got FDR out of the depression was the WWII. Maybe BO need the Al Qaeda war to keep the spending going. I see some big differences between then and now tho.

    1: america wasn't in deep deep debt tho (on per capita basis)
    2. back then america's economy could expand exponentially because very little competiton back then. What's good for GM is good for america doesn't work anymore.
     
  2. silentheart

    silentheart Regular Member

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    Agree and with additional points.
    1) how many people has $13,000 sitting around to pay our stupid national debt? i don't
    2) a. totally agree, every country's factories were bombed out. every one demand and only usa can supply.
    b. what sounds good for bo is not good for our future...
     
  3. crosscourt

    crosscourt Regular Member

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    Hey all! I haven't been on here for ages. I logged in today and saw this thread and that I had posted in it. I went to find my post and, hey presto, I amazed myself with my forecast about the icelandic banks! I have now decided to offer my financial services to anyone who will fly me first class to their country of nationality! I will supply my own crystal ball.
     
  4. silentheart

    silentheart Regular Member

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    Good call on Iceland. More to come I assume from your crystal ball?
     
  5. silentheart

    silentheart Regular Member

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    This is bad...

    Please read the linked article. This is just wrong.

    http://www.reuters.com/article/marketsNews/idUKN2725437120090428?rpc=44

    Why is government rewarding the wrong and risky behaviors of the people who take out 2nd lien to cover the house they can not afford? And yet, it is the people with good credit and follow the rule like you and I get SCREWED and now the tax we paid is covering their @$$ and the house is going into default later anyway?

    Why not just kick those people who can not afford their house out of their house and have a national rent bid to bid the house you can rent with the money you can pay every month?

    I am very pissed now because I do not want to pay for the mess other people create and yet, I can not express my frustration by not paying the portion of the tax that is being used to reward the irresponsible behavior.

    God save the USA. PLEASE!!!
     
  6. malayali

    malayali Regular Member

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    It definitely is wrong, no arguments on that. But, not everyone who has a second mortgage/lien will be eligible for this program. The SMP that rolled out last month has had little impact meaning, due to regulations and restrictions very few people have actually benefitted from the program so far. So, it will be interesting to see how many will benefit from this new program from BO administration.
     
  7. crosscourt

    crosscourt Regular Member

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    The questions the government are probably asking themselves are :

    1. Is it cheaper to provide a subsidy or to have large numbers of people made homeless who the taxpayer will have to house?
    2. What social cost might there be to having large numbers of people made homeless? (eg the traume of repossession, increase in poverty, resorting to crime, general loss of morale, alcoholism etc). There are also studies that show that owning your own home provides stability to the family.

    It may actually be better, both fiscally and in terms of social stability, to provide this subsidy. I don't know much about the proposal myself but I'm guessing this is the justification.
     
  8. ctjcad

    ctjcad Regular Member

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    No longer General Motors..

    ..it will not disappear, but GM is about to become Government Motors....At least 90% will be controlled by the government, from what used to be a 3-way share of investor/stockholder, UAW and government in the company....What's next??..:confused::(
     
  9. ctjcad

    ctjcad Regular Member

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    Hmm..

    ..a counter question then is:
    Why would the govt. even think about assisting unemployed or employed people to get a 2nd mortgage/lien, esp. in this tough economic time?? What the govt. should be thinking of is to create an environment conducive enough for private sectors to create new jobs. Let the small business thrive and stop the big spending. Not handing more FREE money out..
    ..and what happens when those people (taxpayers) who still currently have a job suddenly get laid off and can't pay the mortgage? They will then become homeless as well. Who will then provide the govt. the tax money needed to subsidize or help the homeless people?
    Don't you all see, it's the same people sitting pretty in Capitol hill who'd caused this whole mess in the first place (Fannie & Freddie Mac), and who are now asking the honest and hardworking American people to bail them out (clue, their names' initials are BF, CD to name a couple).:eek::(
     
    #1069 ctjcad, Apr 29, 2009
    Last edited: Apr 29, 2009
  10. extremenanopowe

    extremenanopowe Regular Member

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    boy oh boy oh boy... sooner it'll be closed. Vote them out man. 3 more years to go.;) Camon... look at the bright... side of life.... can u whistle???? ;)
     
  11. silentheart

    silentheart Regular Member

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    1) Look at it this way. UAW voted Mr BO in. Look at who is suffering now?
    2) What bright side of life? I need to get a life first.
    3) No, I cannot whistle. How can you whistle while your job blows?;):eek::D
     
  12. malayali

    malayali Regular Member

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    The new program does not help people get second liens but assist them with the second liens they already have. Big difference! Plus this has nothing to do with the small business package that they are proposing.

     
  13. cooler

    cooler Regular Member

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    that is the crux of the problem, gov't mettling with forces of nature and distort everything. Gov't try to play the pick and choose game and that is dangerous because long past records showed, gov'ts pick bad choices 99% of the time. Even no brainer flipping coins give u 50% right.
     
  14. ctjcad

    ctjcad Regular Member

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    Well..

    ..either way, whether the program is getting people a second lien or assisting those who already have a second lien, it ain't working (for whatever reasons, regulations, restrictions etc.)...Thus, why would the govt. even attempt such plan in this unstable economic time??..:confused:

    Btw, master silentheart is right on when he mentioned earlier that Mr. BO will try to avoid being the one responsible for the huge budget deficit, where in fact, he was crafting it when he was still a senator...not so fast, Barry!:
    http://news.yahoo.com/s/ap/20090430/ap_on_go_pr_wh/us_fact_check_obama
     
    #1074 ctjcad, Apr 29, 2009
    Last edited: Apr 29, 2009
  15. silentheart

    silentheart Regular Member

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    From Star Was III, "In order to ensure our security and continuing stability, the Republic will be reorganized into the first Galactic Empire, for a safe and secure society which I assure you will last for ten thousand years."
    Now King Obama is telling hedge funds that they are holding up the recovery by not to agree on Chrysler's rotten deal that US gov propose. What is it now? A company can not negotiate for better deal?
    The next quote is "So, this is how the liberty dies... with thunderous applause."
    The Republic is dead! Long live the King Obama! Now I can sell my racquet at the price set by little Timmy.
    If you oppose to anything he say is good for the country, you are against the recovery. We are not at war with other country, we have a freaking class warfare here.
    We are so screwed...
     
  16. cooler

    cooler Regular Member

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  17. cooler

    cooler Regular Member

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    OBAMA SOWS SEEDS OF DEMISE
    By **** MORRIS - April 28, 2009

    When the Obama administration crashes and burns, with approval ratings that fall through the floor, political scientists can trace its demise to its first hundred days. While Americans are careful not to consign a presidency they desperately need to succeed to the dustbin of history, the fact is that this president has moved — on issue after issue — in precisely the opposite direction of what the people want him to do.

    Right now, Obama’s ratings must be pleasing to his eye. Voters like him and his wife immensely and approve of his activism in the face of the economic crisis. While polls show big doubts about what he is doing, the overwhelming sense is to let him have his way and pray that it works.

    But beneath this superficial support, Obama’s specific policies run afoul of the very deeply felt convictions of American voters. For example, the most recent Rasmussen Poll asked voters if they wanted an economic system of complete free enterprise or preferred more government involvement in managing the economy. By 77-19, they voted against a government role, up seven points from last month.

    And in the Fox News poll — the very same survey that gave Obama a 62 percent approval rating and reported that 68 percent of voters are “satisfied” with his first hundred days — voters, by 50-38, supported a smaller government that offered fewer services over a larger government that provided more.

    By 42-8, the Fox News poll (conducted on April 22-23) found that voters felt Obama had expanded government rather than contracted it (42 percent said it was the same size) and, by 46-30, reported believing that big government was more of a danger to the nation than big business. (By 50-23, they said Obama felt big business was more dangerous.)

    By 62-20, they said government spending, under Obama, was “out of control.”

    So if voters differ so fundamentally with the president on the very essence of his program, why do they accord him high ratings? They are like the recently married bride who took her vows 100 days ago. It would be a disaster for her life if she decides that she really doesn’t like her husband. But she keeps noticing things about him that she can’t stand. It will be a while before she walks out the door or even comes to terms with her own doubts, but it is probably inevitable that she will.

    For Americans to conclude that they disapprove of their president in the midst of an earth-shaking crisis is very difficult. But as Obama’s daily line moves from “I inherited this mess” to “There are faint signs of light,” the clock starts ticking. If there is no recovery for the next six months — and I don’t think there will be — Obama will inevitably become part of the problem, not part of the solution.

    And then will come his heavy lifting. He has yet to raise taxes, regiment healthcare or provide amnesty for illegal immigrants. He hasn’t closed down the car companies he now runs and he has not yet forced a 50 percent hike in utility bills with his cap-and-trade legislation. These are all the goodies he has in store for us all.

    Obama’s very activism these days arrogates to himself the blame for the success or failure of his policies. Their outcome will determine his outcome, and there is no way it will be positive.

    Why?

    . You can’t borrow as much as he will need to without raising interest rates that hurt the economy;

    . The massive amount of spending will trigger runaway inflation once the economy starts to recover;

    . His overhaul of the tax code (still in the planning phases) and his intervention in corporate management will create such business uncertainty that nobody will invest in anything until they see the lay of the land;

    . His bank program is designed to help banks, but not to catalyze consumer lending. And his proposal for securitization of consumer loans won’t work and is just what got us into this situation.

    So Mr. Obama should enjoy his poll numbers while he may.
     
  18. silentheart

    silentheart Regular Member

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    Given that we know Cry-sler just filed ch.11. Was it a good idea by loaning them the $4B? Since now the US tax payer is pretty far back in line to collect any money DamACrap loan to them. Anyone think GM is going to be next?
    Man, $4B down the toilet. Why not give it to me and I will build a badminton center in every city in north America (Yes, that will include my Canadian friend too) and buy Yonex racquet to give to every one come to play?
     
  19. silentheart

    silentheart Regular Member

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    Also, Mr. BO is going to give another $8B to finish the transition. Please raise your hand if you think Cry-sler will survive and we the raped tax payers and the stupid one who voted for him will get any money back.
    A financial analyst was right last night. They should just pay the employee salary and supplier's contract. Send everyone home for 4 month earlier and it would cost less than $1B.
    Less energy used and save environment too.
     
  20. extremenanopowe

    extremenanopowe Regular Member

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    the money can be spent on bc'ers to fly around the world for a badminton league games. hehe. We can enjoy all kinds of nice food and entertainment with nice spas. ;)
     
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