Riddle me this you financially gifted types

[wilomn]

If the economy is in trouble because of credit, people spending more than they make, how is it good to loan them more?

If I purchased my home by getting a loan, then purchased a car by getting a loan, then remodeled my home by getting another loan, none of which I can make the payments on, how does it assist me to make me another loan to make payments on the loans I already can't afford?

Wouldn't it make sense, I won't say more because the above doesn't make any to me, to sell off, regroup, live with parents or family or friends, take the bus or bike or walk, to get out from under that debt?

Isn't what the government is proposing, that banks start making loans again, the opposite of what we really need?

Does America need credit or jobs that will pay a wage sufficient to support its citizens?

I'm not talking the 90.00 an hour the average auto worker costs the company (benefits, insurance, retirement, union fees, etc.) since they only see about 30.00 an hour of that on paychecks, using very round numbers, but maybe that 30.00 an hour and that's it.

Maybe for the next few years, maybe forever, if a person worked for a wage that could support them but had no benefits post employment, maybe then the economy would turn around.

Of course it would be unfair to people who had pensions and such, but if your choice is to work for a good wage with no post employment benefits or not to work at all, doesn't it make sense to work?

I seem to have digressed.

How is giving more credit going to help?

IF we took that 700 billion and divided it up among every citizen in the USA, all 300 million of them, each person would receive 23 million dollars.

Do you suppose a few of us could pay all our debts with that?

Why not do that?

Or am I completely off?

[STORMS]

IF we took that 700 billion and divided it up among every citizen in the USA, all 300 million of them, each person would receive 23 million dollars.

Do you suppose a few of us could pay all our debts with that?

Why not do that?

Or am I completely off?

I agree with that! I don't think your off at all. Give the $$$$ to the people who need it not the banks. They are going to have to turn around and pay the banks with it anyway. So the bank still gets theirs and Joe Blow gets to keep his cars, house, etc. I've heard other people talk about this too. Sounds good in theory

[mooingtricycle]

Because since when did the people.... Raining money out of their bums for corrupt business ventures.... Ever actually make sense in what they were doing while creating such a storm?


Who would, in their right mind give the companies that created this mess.... MORE MONEY to do the same thing all over again? Are people honestly that blind? Ugh.

[Soterios]

For the same reason the stimulus checks didn't help.

Bailing out the banks, will allow banks to give loans again. People will spend money (even money they don't have) and help boost the economy.

Giving people money would do a lovely job of stimulating economy. Just not ours.

Toyota cars....Mitsubishi TV's....Chinese toys. Think about it. What did you spend your stimulus check on?

[wilomn]

For the same reason the stimulus checks didn't help.

Bailing out the banks, will allow banks to give loans again. People will spend money (even money they don't have) and help boost the economy.

Giving people money would do a lovely job of stimulating economy. Just not ours.

Toyota cars....Mitsubishi TV's....Chinese toys. Think about it. What did you spend your stimulus check on?

Makes no difference what it was spent on, it simply wasn't enough. 600 bucks don't buy much.

Now admittedly 23 mil is a bit much, but if it were even 2 million for the average American, that would buy the house, pay off both cars, put at least one kid through college paid in full, and have money to retire on.

Almost every cent would go back into the economy to purchase and OWN what we now borrow to rent.

[Soterios]

Makes no difference what it was spent on, it simply wasn't enough. 600 bucks don't buy much.

Now admittedly 23 mil is a bit much, but if it were even 2 million for the average American, that would buy the house, pay off both cars, put at least one kid through college paid in full, and have money to retire on.

Almost every cent would go back into the economy to purchase and OWN what we now borrow to rent.

Where do you all think this magic money is coming from?

Are you all seriously die hard socialists? If you haven't figured it out by now. You're all asking for communism. Everyone get the same amount? That's a great way to take away incentive to do better.

[Serpents_Den]

Besides the Bailout I would like to know about the 2.3 trillion dollars that went missing from the Pentagon the day before 911


Has anyone here ever watched America Freedom to Fascism? You can check it out on Google it's very interesting.

[Soterios]

Besides the Bailout I would like to know about the 2.3 trillion dollars that went missing from the Pentagon the day before 911


Has anyone here ever watched America Freedom to Fascism? You can check it out on Google it's very interesting.

Have any credible sources or evidence to back that up?

[Sebrina]

Oh boy here we go with the conspiracy theories...

I've seen 9/11 bring out the creativity in people first hand. The creativity of consiracy theories that came from that single day is astonishing. One of the more popular ones is the one stated above (this one was actually very popular in 2002-2005):

2.3T Dollars stolen from the Pentagon the day before 9/11! OH noes!
(People actually made accusations that the money was given to the Bin-Laden group.)

Ask yourself if you have 2.3T dollars would you keep it hidden in an office building? The Pentagon is a very secure location but it IS a publicly accessible building and they even conduct minimum security tour guides there on a daily basis.

The US federal government is actively the major player in the US bank business, owning more federal banks than any other major bank in the US.

WHY in the world would they stash TRILLIONS of dollars in an office building owning some of the most secure banks in the nation not to mention Fort Knox?!

I have no "proof" to prove that that never happened, but whoever feeds you this info doesn't have any information to back up that event ever took place either.



Back On Topic:

I'm sorry I steered this into the ground. I would certainly agree it makes more sense to give people a reasonable amount of money and be able to pay off whatever they owe and now... "own"! But considering how politically tied banks and the US government are that will likely never happen. I bet my life they'd rather just buy out every bank in America before giving us anything like that mainly because of the control needed to make sure money isn't just laundered into some other purpose, and again political motivation.

Sorry for steering this off topic, enjoy your day!

[SRW Reptiles]

IF we took that 700 billion and divided it up among every citizen in the USA, all 300 million of them, each person would receive 23 million dollars.

Do you suppose a few of us could pay all our debts with that?

Why not do that?

Or am I completely off?

$700,000,000,000.00 to 300,000,000 people is only $2,333.33 per person.