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September 19, 2008 at 10:29 AM in reply to: UBER BAILOUT: Bad Debt Plan May Cost (tax payers) Up to Half a Trillion Dollars #272935September 19, 2008 at 10:29 AM in reply to: UBER BAILOUT: Bad Debt Plan May Cost (tax payers) Up to Half a Trillion Dollars #272941
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ParticipantThis worked in the 80’s because back then we were still a savings-based society.
That handi-work pushed us into becoming a debt society, borrowing from our future to pay for today.
20 years of that and the piper returns, only now the government is throwing more money we don’t have at the problem.
This feeble attempt to mitigate fear and panic will deepen our debt, further weaken our nation’s financial credibility and in the end only make things worse.
Why should anyone else pay off their debts now?
September 19, 2008 at 10:29 AM in reply to: UBER BAILOUT: Bad Debt Plan May Cost (tax payers) Up to Half a Trillion Dollars #272984ParticipantThis worked in the 80’s because back then we were still a savings-based society.
That handi-work pushed us into becoming a debt society, borrowing from our future to pay for today.
20 years of that and the piper returns, only now the government is throwing more money we don’t have at the problem.
This feeble attempt to mitigate fear and panic will deepen our debt, further weaken our nation’s financial credibility and in the end only make things worse.
Why should anyone else pay off their debts now?
September 19, 2008 at 10:29 AM in reply to: UBER BAILOUT: Bad Debt Plan May Cost (tax payers) Up to Half a Trillion Dollars #273009ParticipantThis worked in the 80’s because back then we were still a savings-based society.
That handi-work pushed us into becoming a debt society, borrowing from our future to pay for today.
20 years of that and the piper returns, only now the government is throwing more money we don’t have at the problem.
This feeble attempt to mitigate fear and panic will deepen our debt, further weaken our nation’s financial credibility and in the end only make things worse.
Why should anyone else pay off their debts now?
ParticipantYeah, but neither will anyone else unless they work in the Fed or Treasury. In fact, maybe we should just use all luxury cars as our currency now.
That would make more sense than setting up a Government entity designed solely to lose money.
They have no problem doing that on their own.
ParticipantYeah, but neither will anyone else unless they work in the Fed or Treasury. In fact, maybe we should just use all luxury cars as our currency now.
That would make more sense than setting up a Government entity designed solely to lose money.
They have no problem doing that on their own.
ParticipantYeah, but neither will anyone else unless they work in the Fed or Treasury. In fact, maybe we should just use all luxury cars as our currency now.
That would make more sense than setting up a Government entity designed solely to lose money.
They have no problem doing that on their own.
ParticipantYeah, but neither will anyone else unless they work in the Fed or Treasury. In fact, maybe we should just use all luxury cars as our currency now.
That would make more sense than setting up a Government entity designed solely to lose money.
They have no problem doing that on their own.
ParticipantYeah, but neither will anyone else unless they work in the Fed or Treasury. In fact, maybe we should just use all luxury cars as our currency now.
That would make more sense than setting up a Government entity designed solely to lose money.
They have no problem doing that on their own.
ParticipantLA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.
Chris Thornberg:
“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”
The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30
This of course varies by location, but the point stands.
ParticipantLA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.
Chris Thornberg:
“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”
The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30
This of course varies by location, but the point stands.
ParticipantLA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.
Chris Thornberg:
“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”
The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30
This of course varies by location, but the point stands.
ParticipantLA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.
Chris Thornberg:
“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”
The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30
This of course varies by location, but the point stands.
ParticipantLA has dropped 20%. People say the “industry” here isolates it, but it’s simply not true.
Chris Thornberg:
“…the problem we have out there is that prices in much of California tripled over the course of the last 10-12 years – tripled – and then when you look at incomes that went up by 30% well that doesn’t make any sense. You cannot have home prices go up by 300% and incomes go up by 30&, that makes no sense, and we’re seeing the back end of that.”
The Housing Market’s Falling Prices – KQED Public Radio, Forum 2008-06-30
This of course varies by location, but the point stands.
ParticipantSince you may need that money on a relative moment’s notice it’s better to keep it relatively fluid.
Even CD’s are okay, but they should be shorter term obivously. You will lose to inflation, but you’ll be way over the stock market on a week like this, and you can get it when you need it.
Of course this will probably be the worst week since 9/11, if it’s not already.
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