I Think Financially Us Is F#@%ed

[01xtreme]

Honestly, I don't see any way the gov't influence will really help matters all that much. When it comes to economics I am more of the "invisible hand" type person. An economic system will remedy itself, but that is usually not until the economy falls flat on it's face. I wish this weren't something that is pretty much inevitable, but peoples stupidity/greed is what brought us to this point, and it seems funny, at least to me, that those are the same people asking for help to bail them out of the shitty situations they find themselves in. I don't see how some people's lack of common sense constitutes an emergency release of funds that is going to effect us honest, hard-working people who try to do things thr right way.

[audiofanaticz]

if you look at everything the gov spends on, the war is a fraction of the cost of several other "costs"

look it up- the war barely breaks the skin

-Drew

In my eyes I see no proof of that.

You only know, see, read, hear of what people want you too.

If you google trade builidngs, and read a statement that a 100,000 cows dropped from the heavenly skys and landing on the trade towers roof and that is what caused them to collapse. Would you believe that?

I mean you better because you read someplace on the net that the war is only a fraction of the cost the goverment blows money on...

Im sorry but I got no reason to trust what is said without knowing for sure.

[01xtreme]

Loaning out more money is going to do nothing, really!

After all loans are whats got us into this.

If this close to 800billion dollars is what we need, and it cant be printed up like david says it has to be a loan that must be repaid. Otherwise its worthless as david says because nothing is backing this.

I sure know If I was one of the people with this 800billion Id want my money back, and back with a interest rate added to it.

The money isn't just floating around in someone's pockets, it is in the fed and gets released, and retracted in order to control the inflation rate, which in turn effects the value of the US dollar...it is supply and demand my man. The more money they release, the less the dollar is worth. the more they retract, the more the US Dollar is worth. Releasing another 800billion dollars would pretty much make the US dollar worth about as much as a mexican Peso...and that isn't worth shit.

[qu1cks1lver56]

whats making the dollar worthless is having nothing to back it up with.

something needs to be done thats for sure.

[audiofanaticz]

I just googled " when did the war in irag start"

This is the first hit I got.

The US-led war against Iraq did not begin in March 2003, as many Americans believe. .... despite its formidable military might at the start of the war. ...

Also as I heard, we spend $10,000,000 a month on the war in Irag since it started.

theres 12 months in a year, 10,000,000x12= 120,000,000

march 2003 til march 2008 = 5 years.

So 120,000,000x5=$600,000,000!

Hey look at that, thats almost that whole $777,000,000,000

But the war is just a fraction of the problem... Seems to be one big fraction to meh!!!!

But who says the estimates that are spent on such and such are right? We only know what we are told.

[littleitaly1990]

Honestly, I don't see any way the gov't influence will really help matters all that much. When it comes to economics I am more of the "invisible hand" type person. An economic system will remedy itself, but that is usually not until the economy falls flat on it's face. I wish this weren't something that is pretty much inevitable, but peoples stupidity/greed is what brought us to this point, and it seems funny, at least to me, that those are the same people asking for help to bail them out of the shitty situations they find themselves in. I don't see how some people's lack of common sense constitutes an emergency release of funds that is going to effect us honest, hard-working people who try to do things thr right way.

I agree with letting things go as is, BUT government spending hugely affects our economy. They are by far the largest spenders in our country and definitely play a role in what happens financially. Oh and the war is chump change for the government...most of there other departments cost far more with just as little benefit.

[01xtreme]

whats making the dollar worthless is having nothing to back it up with.

something needs to be done thats for sure.

I hate to break it to you, but we haven't worked on a gold standard in decades. The only thing it taked to give money it's value is the people's faith in their government, and the belief that they wont go bankrupt.

[littleitaly1990]

I hate to break it to you, but we haven't worked on a gold standard in decades. The only thing it taked to give money it's value is the people's faith in their government, and the belief that they wont go bankrupt.

good thing is...as crazy as everything is right now, after the election, as always, things will calm down a ton. Happens nearly every big election year. And our government, thanks to our founding fathers, will not fail anytime soon. We have a very secure govt. and our money, while it may be worth less atm, it will regain value. And anyone watching the market knows the euro, which was crazy high compared to our dollar a few months ago, is losing value very fast. Economics is a wave, everything goes up and down, its unavoidable.

[01xtreme]

good thing is...as crazy as everything is right now, after the election, as always, things will calm down a ton. Happens nearly every big election year. And our government, thanks to our founding fathers, will not fail anytime soon. We have a very secure govt. and our money, while it may be worth less atm, it will regain value. And anyone watching the market knows the euro, which was crazy high compared to our dollar a few months ago, is losing value very fast. Economics is a wave, everything goes up and down, its unavoidable.

EXACTLY!!!!!! Everyone is losing their minds, but the fact still remains, WE WILL GET THROUGH IT. We have gone through many financially troubling time, and we came through it a little bit wiser. I am 100% comfident that the next few years are not going be fun ones, but we will make it through this, and become as strong, and probably stronger than we ever were.

[trainman0978]

the freddie mac and fannie mae problems of giving out loans to people who could not afford them was just purely a poor business decision. these companies thought it would never come back to bite them in the ass. Most people are told their whole lives that they need to buy a house. You take a slick loan writer or mortage processor, and they can make you believe that you can afford a 150,000.00 dollar house making seven bucks a hour. When somebody with no credit gets talked into a loan they cant afford, it is because they are just chasing the american dream.... Look at this way, how many of you, or somebody you know , fucked up your first checking account or credit card with overdrafts or over the limit fees, late payment charges, balh, blah, blah.... the account holder just simply didnt know any better, and is a painful and expensive lesson to learn. It is no different with a first time home buyer. The amoutn of paper work at closing is gigantic, and to alot of people, it can be overwhelming, and VERY EASILY misunderstood.... getting people into trouble and eventual foreclosure... and as david said, the bank takes the house back, and starts the whole process all over, which is basically a legal double dipping of available product and the profits from business... These companies played on peoples ignorance, or lack of banking and accounting , and interest rates and the ways loans are set up... and in the end the first time home buyer loses the house, the money they did pay into it, and their credit is even further destroyed with a foreclosure or bankruptcy, keeping them from getting any farther in life with out the help of credit. If is a snowball effect, enough loan collapse , the bank starts to falter, meanwhile, you have people being evicted, have no credit, and poverty slowly spreads.....

I think there will be a better solution or " bail out " from the government, but the stipulations of the bill will be significantly different , and the corporations will only be a small part of the aid spread to american citizens....as it was said, wall street needs needs help... but you do that by helping main street first. The majority of the country is the middle class, and when we are doing well and spending, the economy and the stock and fund trading reflects our behavior as a whole....