How did they come up with 700 billion?

[LostCat]

What happens if the bail out isn’t approved? America is being hit with the perfect storm..

-We’re no longer living on borrowed money (no more homes to cash out of)
– We have no industry here (no bottomline)
– Everyone lives on Credit Cards (so what happens when people lose their job and can’t pay credit card companies).
– Are credit card companies the next to need a bail out?
– What about govt. Who bails them out? Look at the state of Ca, look at the city of San Diego, look at everything. It’s all coming apart.
– what could turn the economy around, if anything? Is there anything? short term. and how ugly can it get?

[kewp]

LostCat,

None of what you have posted is true.

Not everyone lives off of home equity (I certainly don’t).

American is the most productive nations on earth, with tremendous natural and human resources.

Not everyone lives on Credit Cards. I have great credit and when I need it, get a teaser 0% rate on a new card and then pay it off before the rate adjusts.

If we get out of Iraq and reverse Bush’s tax cuts for the super-rich we would, easily, run a budget surplus.

Re: the economy. Nothing can turn around a sinking ship. What is going to happen is everyone is going to, one way or another, be forced to live within their means. I.e., things are going to reduce to where they should have been in the first place, before the credit bubble. For some this is ugly.

For me, it is beautiful. YMMV.

[kewp]

LostCat,

None of what you have posted is true.

Not everyone lives off of home equity (I certainly don’t).

American is the most productive nations on earth, with tremendous natural and human resources.

Not everyone lives on Credit Cards. I have great credit and when I need it, get a teaser 0% rate on a new card and then pay it off before the rate adjusts.

If we get out of Iraq and reverse Bush’s tax cuts for the super-rich we would, easily, run a budget surplus.

Re: the economy. Nothing can turn around a sinking ship. What is going to happen is everyone is going to, one way or another, be forced to live within their means. I.e., things are going to reduce to where they should have been in the first place, before the credit bubble. For some this is ugly.

For me, it is beautiful. YMMV.

[kewp]

LostCat,

None of what you have posted is true.

Not everyone lives off of home equity (I certainly don’t).

American is the most productive nations on earth, with tremendous natural and human resources.

Not everyone lives on Credit Cards. I have great credit and when I need it, get a teaser 0% rate on a new card and then pay it off before the rate adjusts.

If we get out of Iraq and reverse Bush’s tax cuts for the super-rich we would, easily, run a budget surplus.

Re: the economy. Nothing can turn around a sinking ship. What is going to happen is everyone is going to, one way or another, be forced to live within their means. I.e., things are going to reduce to where they should have been in the first place, before the credit bubble. For some this is ugly.

For me, it is beautiful. YMMV.

[kewp]

LostCat,

None of what you have posted is true.

Not everyone lives off of home equity (I certainly don’t).

American is the most productive nations on earth, with tremendous natural and human resources.

Not everyone lives on Credit Cards. I have great credit and when I need it, get a teaser 0% rate on a new card and then pay it off before the rate adjusts.

If we get out of Iraq and reverse Bush’s tax cuts for the super-rich we would, easily, run a budget surplus.

Re: the economy. Nothing can turn around a sinking ship. What is going to happen is everyone is going to, one way or another, be forced to live within their means. I.e., things are going to reduce to where they should have been in the first place, before the credit bubble. For some this is ugly.

For me, it is beautiful. YMMV.

[kewp]

LostCat,

None of what you have posted is true.

Not everyone lives off of home equity (I certainly don’t).

American is the most productive nations on earth, with tremendous natural and human resources.

Not everyone lives on Credit Cards. I have great credit and when I need it, get a teaser 0% rate on a new card and then pay it off before the rate adjusts.

If we get out of Iraq and reverse Bush’s tax cuts for the super-rich we would, easily, run a budget surplus.

Re: the economy. Nothing can turn around a sinking ship. What is going to happen is everyone is going to, one way or another, be forced to live within their means. I.e., things are going to reduce to where they should have been in the first place, before the credit bubble. For some this is ugly.

For me, it is beautiful. YMMV.

[Author]

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