Riddle me this you financially gifted types

Quote:

---

Originally Posted by SRW Reptiles

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

---

Its sad it took a full page of posts for someone to finally point out correct math....... More education is needed in this country minus the teachers union and left wing socialist propaganda in the school system.

No easy answers, hang onto your paints as its not going to get any easier anytime soon and I'm guessing its going to be much longer than most are expecting.... My house in fl will be worth what I owe on it around 2015, fingers crossed:D

Quote:

---

Originally Posted by neilgolli

Its sad it took a full page of posts for someone to finally point out correct math....... More education is needed in this country minus the teachers union and left wing socialist propaganda in the school system.

No easy answers, hang onto your paints as its not going to get any easier anytime soon and I'm guessing its going to be much longer than most are expecting.... My house in fl will be worth what I owe on it around 2015, fingers crossed:D

---

Some of us aren't interested (so much) in political rantings and debates...I figured someone else would see it.:salute:

Quote:

---

Originally Posted by Soterios

You're grasping at straws, at best. You still haven't provided any real proof. Don't just blindly follow rumors.



If the American public was as responsible as you make them out to be in your post, the country wouldn't be in this mess. Giving irresponsible people money will make things worse. Look what happens to poor people who win the lottery. They're poor again within the year.

---

Someone finally hit it on the nail. Now, I DO NOT support the bailouts at all. My question to y'all is this: Where's the blame on these people who were buying houses well beyond their means? If they were STUPID enough to buy into these things, then they deserved to fall. "Oooh, the big, bad banks! OH my goodness! Ooooh, the big, bad Realtors, Oooooh!" Get a bite of reality, please. Persuasive or not, these people are adults and they made poor decisions which forced them into poor positions in life. That's like saying that it's all the drug dealer's fault that a kid overdosed. The drug dealer may have been pressuring the kid, but the kid still bought it and the kid was negligent of his/her life. Same with the adults.

Quote:

---

Originally Posted by neilgolli

Its sad it took a full page of posts for someone to finally point out correct math....... More education is needed in this country minus the teachers union and left wing socialist propaganda in the school system.

No easy answers, hang onto your paints as its not going to get any easier anytime soon and I'm guessing its going to be much longer than most are expecting.... My house in fl will be worth what I owe on it around 2015, fingers crossed:D

---

I'm not sure if I have any paint, but I definitely have pants! ^_^ Thank you, though!

Heres the underlying problem. Its one that has grown and swelled and compounded over decades.

I'll lay it out for you. Years and Years ago people paid for what they wanted. Need a house you work save money and build a house, need a car you work save money and buy a car.

Then this wonderful thing called credit came about. Manufacturers then started to say " Well if people aren't going to have to worry about paying for stuff out right then I down have to worry about pricing things so that people can afford them." Wages went up benefits got better and people just kept burrowing. now fast froward 60 years. Everybody is so over extended and the ice is spread so thin that the least little crack is becomes a huge issue.

Now lets look at some thing else the average car today cost 15,000.00 and most people pay then off in 4-5 years at a monthly payment of 300.00.
Now take a 150,000.00 house over 30 years you pay 700-900 dollars not including insurance and all the other BS with interest your paying 324,000 dollars for a 150,000.00 house. If Banks would allow the same interest rates on cars as they do houses you could buy a 150,000 house for 454.00 a month or double that payment to match the current mortgage rate you could pay off a 1500,000 house in 15 years or afford a 300,000 house.

The problem is banks got greedy, people got scared and the market went to pot.

Quote:

---

Originally Posted by mooingtricycle

I wouldnt quit my job....

If everyone all of a sudden got 23 million, do you think that prices wouldnt go up to try to get as much out of people as they can? Suddenly a 20K car, would be a 200K car...... I have no doubts the costs of things WOULD go up if everyone were suddenly 23M richer.... even 2.3 million.....

---

I guess I never thought of it that way....if everyone has a lot of money, prices go up, then everyone quits their job, prices go up even more, then people suddenly can't afford everything anymore, people go out and get their jobs back, and everyone is right where they started, in the same mess, only with $23million that can't buy diddly squat anymore because inflation is so high...man I love economics

Quote:

---

Originally Posted by Melicious

[/B]

Someone finally hit it on the nail. Now, I DO NOT support the bailouts at all. My question to y'all is this: Where's the blame on these people who were buying houses well beyond their means? If they were STUPID enough to buy into these things, then they deserved to fall. "Oooh, the big, bad banks! OH my goodness! Ooooh, the big, bad Realtors, Oooooh!" Get a bite of reality, please. Persuasive or not, these people are adults and they made poor decisions which forced them into poor positions in life. That's like saying that it's all the drug dealer's fault that a kid overdosed. The drug dealer may have been pressuring the kid, but the kid still bought it and the kid was negligent of his/her life. Same with the adults.

---

The problem with this line of reasoning regarding the bank bailouts is that we're not just talking about bailing out a few individuals....we're talking about bailing out the entire US economy, which affects not just hundreds of millions of US citizens, but also vast global economies.

Yes...there are a number of individuals to blame, I believe, for what happened in the banking world. (Bankers and government officials, both) And I sincerely believe those individuals should somehow be held accountable for their choices. But bailing out the banks is not about them. If the government were to allow their actions to continue without correction, the fall-out would not just affect those individuals....but millions and millions of people...most likely including you and me and just about everyone reading this thread.

Quote:

---

Originally Posted by JLC

The problem with this line of reasoning regarding the bank bailouts is that we're not just talking about bailing out a few individuals....we're talking about bailing out the entire US economy, which affects not just hundreds of millions of US citizens, but also vast global economies.

Yes...there are a number of individuals to blame, I believe, for what happened in the banking world. (Bankers and government officials, both) And I sincerely believe those individuals should somehow be held accountable for their choices. But bailing out the banks is not about them. If the government were to allow their actions to continue without correction, the fall-out would not just affect those individuals....but millions and millions of people...most likely including you and me and just about everyone reading this thread.

---

I HATE the bailout as its against what capitalism is, what our country is fundamentally built on. HOWEVER if our banking system fails we all fail. I think, and say that lightly, would rather we barrow the money from China at almost zero interest (look at the treasure bills, we are getting money nearly for free) rather than having China buy our banks.

The auto industry on the other hand should be left to rot unfortunately. Its not going to work, it will be bad money after bad money. The auto suppliers are going to fail and thus force the big three to go down with them. Like I said, no easy answers, LONG road ahead. Start raising your chickens and growing a garden;)

Quote:

---

Originally Posted by neilgolli

I HATE the bailout as its against what capitalism is, what our country is fundamentally built on. HOWEVER if our banking system fails we all fail. I think, and say that lightly, would rather we barrow the money from China at almost zero interest (look at the treasure bills, we are getting money nearly for free) rather than having China buy our banks.

The auto industry on the other hand should be left to rot unfortunately. Its not going to work, it will be bad money after bad money. The auto suppliers are going to fail and thus force the big three to go down with them. Like I said, no easy answers, LONG road ahead. Start raising your chickens and growing a garden;)

---

That's pretty much exactly how I see it. None of it is "nice" or "good"....but to do otherwise (regarding the banks) is to invite disaster.

The auto industry, while it affects thousands, is nowhere near as critical to the overall economy. They've screwed themselves before, and had to deal with it, and in the past have ended up with better products because of it. They'll get over this one without the government "helping" them....and the more "help" they receive, the longer it will take them to actually learn anything or improve anything.

Even with my screwed up math, I never reached 23 million.

Snake people, it's 2.3 million, or would be were there more millions in a billion.

For those of you out there who are just smartasses, I did use a calculator. However, math has never been my strong suit, especially when you start lining up lots of zeros.

My premise though, is unchanged.

Let the people decide what to do. Why bailout companies that have proven they cannot be made profitable?

Cops and doctors and even garbage collectors, many of them do those jobs because they want to, not for the paycheck.

Also, I never said it was perfect, what I said was, why toss good money after bad? Why not give it to the people who will lose homes and jobs and their very lives and then let THEM be responsible for themselves?

Would you rather stay in the same downward spiral or give EVERYONE the same opportunity, start EVERYONE at the same spot, and let THEM decide what's going to happen.

If no one was in fear of losing all they have, what would they do? Maybe help others less fortunate? Maybe take a chance on being happy? Maybe just hole up and watch the world go by.

If Americans had no debt, what would we be capable of? If we didn't sweat it out day after day making money to pay interest on loans, what could happen?

Sure, some dopes would blow it all. Where would they blow it? They'd be buying things. Who would be selling those things? Where would those things being sold come from?

Suppose, and I know this is far fetched, some people who actually cared about others and this very globe upon which we live, did something helpful for NO GOOD REASON. Suppose that instead of seeking ever more profit it became fashionable to seek good for all of us. Suppose prices didn't skyrocket just because everyone had money. Suppose people got smart and realized that this was a one time leveling of the field and that if they blew it, there was no second chance?

I suppose I am just, as ever, a dreamer.

But what if it worked....