The New-New Deal and the Numbers?
by Mortgage Rates on Tuesday, September 14th, 2010 | 7 Comments
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Some of what you say I believe is correct, some not so. It’s difficult for me to articulate the hows and whys but I’ve found this website helpful: http://www.chrismartenson.com
All the best.
i am not worried I am along for the ride Bush has so screwed up our country we are so lucky we have someone willing to fix the mess that a man took 8 years to purposely mess up
Do not worry their is no money for his new deal . The US is broke it is now eating it’s own wealth of debt . Other countries are not buying US debit . He will even give up his job because he will not be getting paid .
i dont like any of it.
Hmmm, the american people are being smart and saving their $$ during a recession. But that is making us politicians look like we cant legislate away this economic downturn…(which they cannot) So since these americans are not spending $$, lets take it away from future americans and hope things work out better for them.
I am all for public works projects, however, do it responsibly and dont package it as a fix for our current economic woes, because it isnt…
I think the wall street bailout was grotesque.
In just the last few months, we have written $8.5 TRILLION in corporate welfare checks to ‘big’ businesses that have been profit-mongering, mismanaged and anything but good corporate citizens.
Now the automakers want $15 billion; but it’s already been determined that the industry needs $125 billion to stay afloat. So, we’ll give them $15 billion now and they’ll be back in March for the rest, thanks to our incompetent, arrogant, idiotic, dim-witted elected officials and government bureaucrats who have been taking bribes from ‘big’ business for years (excuse me, they call it campaign contributions, legal donations or lobbying expenses).
Yes, it would make more sense to let the ‘big three’ automakers go bankrupt. Yes, it would hurt millions of Americans. But we’re a resilient people. We can come back. Better that the government give taxpayer money back to the taxpayers. Then, when the ‘big three’ go belly-up, make low-cost loans available to small groups of investors who would buy, for example, the Buick Division and develop a car tat runs on compressed air.
But that wouldn’t allow the swindling mortgage lenders, incompetent bankers, arrogant investment brokers, greedy hedge fund speculators and half-witted automobile executives come in for a soft landing while the rest of us suffer the effects of these bail outs.
-RKO-
yes a lot of it makes sense but when it really comes down to the crunch ..its not the banks who are suffering they now have open book do you really think they care about their clients up the interest rates when suits ok yes you can have bigger overdraft but the interest is higher (you cant afford the existing one and they up it gees)if you cant afford but have to take ..,really don’t care if the banks are not lending to each other ..gees its a bank give them my money their supposed to have mine and their clients entrust at heart not their fellow banks and who is going to buy all these houses re-possessed by the banks so thousands homeless no place to go thousands of houses lying empty ..fuel costs at unbelievable highs ..going to be cold winter .no job no warmth no prospects deaths the numbers don’t add up … merry xmas not role on 2010,… 2009 nightmare
Yes, since these companies are hurting because people have no money to buy their products and common people are hurting because they don’t have jobs….. it’d make more sense to put the money into the hands of the common people. Give working people a healthy stimulus check and the money will go into the economy where it is needed. People will catch up their mortagage payments, car payments, credit cards, etc. It’ll help everyone at every rung of the ladder. Too simple!
Of course, our elected leaders know this. The question is, “why aren’t they doing this?” This bailout is nothing but corruption. Something is behind this that we are not seeing on our news networks. Rumor is that these Wall Street corporations took loans from China and now China wants their money. They know the US economy is about to totally collapse soon and they want something before we’re to the point where we can’t make any payment.
BTW, the unemployment numbers we’re hearing of 6.5% and 7% are washed numbers. We’re never told how bad it really is. Double that to get the real unemployment picture.