100 million dollars in this bill for NASCAR.(too improve race tracks around the country)

 

81 million for Hollywood

 

2 MILLION dollars for wooden arrows for children

 

148 million dollars for wool research

My name is Jay. What's your's again?

 

I just graduated from college and I'm looking for a job right now (not the best time, I know).

 

I used to get offended when people would call politicians our "leaders" because to me they are only representatives. But maybe they ARE our leaders after all... because they certainly don't represent us.

 

I think sometime in the next 15 years we'll see America fall down into the #2 economic spot, and it'll probably happen in conjunction with the falling dollar. When that happens it'll be really tough to convince voters that we need so many of our resources going to having a military presence overseas. You'll see a mass exodus of America's brightest moving to Europe and other countries around the world with higher standards of living. You and I are just slightly ahead of the curve.

 

BTW, I hope you feel better soon. I really want you to be around to blast that goober (forget how it'll affect your grade) ;)

 

Take a look at this video of Bill O'Reilly beating up on Barney Frank for inspiration:

 

[ame=http://www.youtube.com/watch?v=RAuOEdttjZQ]YouTube - O'Reilly Blasts Barney Frank On Fannie Mae Mess!![/ame]

Thanks Jay!

 

Rare good moment from O'reilly. Rep Barney Franks was the spokesperson for the things that caused this problem. And now he's trying to solve it in the House. Back in the early 2000's when some were saying trouble was coming Franks was defending the housing market and the failed policies saying everything was ok.

 

How can we get anywhere when the corrupt people who got us here are trying to get us out? Trying with more corruption and failed policies.

Representative Pickering from Mississippi is talking now about how he is voting Yes on this bill to "save free market capitalism".

 

:laugh3:

With all this hot air, I'm surprised the house does not float off into the horizon.

 

"If the Senate bill passes in the House, then it will prove that our reprepsentative government is dead and been replaced with an oligharcy. The Senate passed a bill with loads of totally unrelated pork added to insure it gets passed no matter that the majority of Americans are against a bail-out, which I am sure they still are. Those hacks in Congress were elected by the people to represent the will of the majority of their constituents whether they agree with it or not.

 

David Zimlin, Dunedin, Florida, United States "

 

 

"This will be a taxation of U.S. citizens to pay foreign creditors. The money will go directly to nations that hold U.S. paper debt, such as Saudi Arabia, Japan, China, and European nations. So now, the American people, who boast themselves as being the most free people one earth, will become debt slaves to foreigners.

 

[sunny-Meadow], West Virginia, United States "

There's kids starving in Africa, theres Americans without health care, yet we can waste 100's of millions on Rum, Nascar, Wool and other unimportant things?

 

Who knows how many more houses will be defaulted on the rest of this year and next, and the money is not even being used for them. Billions of dollars is going to foreign banks, to help the "Credit Crisis" created by those who want your money.

 

When this fails, they'll be back with another bill for 700 Billions. But don't worry, its for the taxpayers good, not corrupt politicians and businessmen. Give them Trillions and they'll make everything better. Just ask Wall Street, Nascar, Rum, wool and wooden arrow companies!

Perhaps the stupidest thing I keep hearing from these politicians is how much money the American taxpayers will make! What a viciously dishonest thing to say.

 

The government is going to voluntarily overpay for these MBS's, and they have the audacity to tell us we're set to make money on this? The housing market will continue to stagnate and fall for the next two years. This is a terrible investment no matter what way you look at it.

 

The fifteen minute vote has begun.

The end of America came "Not With a Bang but a Whimper". Funny how I'm watching the destruction of our constitution, democracy, and economy on tv.

It passed.

The stock market's reaction is sorta "meh" because all the traders are selling into the rally for a quick profit. Oil prices are declining and there is talk it will "definitely go much lower" according to a CNBC reporter's sources.

 

Oil is an interesting barometer because it tends to fall when people suspect we are going into a recession (because demand falls) but it should increase as people see the value of the dollar falling (because it takes more dollars to buy a barrel).

 

I expect we could see the markets stagnate or even fall (downside looks to be another 10% or 15% from here) once people realize this bill hasn't done anything to affect credit markets or increased demand for housing. Look for a recession to continue for at least another 6 months, with the possibility of an extended downturn in the housing and financial sectors lasting another two years. Once McBama is elected the first promise they will break is to keep taxes the same for the middle class. There will surely be more regulation on Wall Street, lowering incentive to invest.

Dont worry America! the rich are safe, the corrupt politicians will be safe, lobbyist and special interest groups are now safe from very hard economic times! This is a glorious day for the corrupt, not so much for Middle America.

 

Now the only hope I have is to see if America will say enough is enough and vote these bastards who committed treason out of office. But I doubt that, thanks to CNN and Fox News 24/7 propaganda for the bill and corrupt politicians and policies.

 

Jay, you seem to be an expert on the markets, please keep us informed on what's going on in the coming weeks.

Whoa, VERY interesting. I've always known that we are a massive debtor to China, but it never occurred to me they were the impetus behind this particular bailout!

 

And now that bastard Bill Gross from Pimco is on CNBC hawking the story that taxpayers will make money and this is a bailout for Main Street.

 

In terms of markets and making money, this is one of those times where it seems like it should be so apparent where to invest... and maybe it is. But whenever a trade seems too easy, I get nervous. I'm a contrarian by nature. But right now I'd short the dollar by buying an oil ETF, buy businesses that make most of their profit overseas (tech), and avoid US Equity. China looks good, so does Brazil. We'll see, though. ;)

So were going to borrow this money, to give to foreign countries and banks and then pay interest on this money.

So were going to borrow this money, to give to foreign countries and banks and then pay interest on this money.

 

Hence why I'd prefer to own China now than the US. This is the dirty secret that all young Americans should know: DON'T INVEST in your home country! Buy foreign business! Growth won't be found here.

You know with all this mess going on, it's the best time to save money with banks this side of the pond offering high interest rates.

i'm quite scared about this!!! I hope the problem gets solved :S

After this Bill things will get much worse.

 

Not only will this bail out not help the problem, it will create a whole new problem. Only Washington could have a solution to a problem that is to create a even bigger problem. They answered the problem of corruption with more corruption.

http://www.europac.net/media/PeterSchiff_10-01-2008.mp3

 

If you have the time and the stomach, listen to this. Peter Schiff predicted this downturn back in 2006, and here he's predicting how it will end up.

I know how I'll make my millions, I'll raise some sheep for the wool research and get a piece of that 142 millions.

 

Jay, great post, I'm listening to the link right now.

Jay, I have a question, on the link you gave us Peter Schiff was talking about now owning the dollar. I'm a little confused, about that. Do you know anything about this?

Jay, I have a question, on the link you gave us Peter Schiff was talking about now owning the dollar. I'm a little confused, about that. Do you know anything about this?

 

It means keeping your money in dollars rather than Euros, Yen, Aussie Dollars, Pounds, etc. FOREX is the currency market that trades their relative values.

 

But when he says to NOT own the dollar, he just means to put your money in stocks, bonds, or commodities (like Gold and Oil). These things can't be artificially inflated by the government.

As I type the DOW is down another 720 points. According to a trader on the floor, "The Fed is out of tricks, there's still some room on the downside. This is a very, very scary market."

 

Guys, we don't see stuff like this very often. Overseas equity is also down 20%.

 

I couldn't imagine a better time to invest. We're seeing huge bargains, not just in those "safe" stocks but also the ones that stand to do the best when the global economy begins its slow recovery.

I pissed away 40,000 dollars in the last 1 1/2 and i can't afford to invest. I learned my lesson, but with the market and trouble coming it's probably too late for me....

 

My brother is making a killing though and I'm trying to get him to invest but he just bought a house and is spending all his money on cabinets, washer/dryers and other stuff.

How much money did these lend out and for how many houses as it seems a hell of a lot to give away as bad debt to me. ?

 

even with higher interest rates that would be 10 % -20 more expensive than a introductory loan in some cases .. or even straight away.

 

If I was a banker I would look to see a percentage not pay however my interest rate would cover where as I wont be paid.

 

 

1. Reason I have the property, even if what is happening right now. It would not lose even a inflated loan for a house. Even if I sold it have the cost price when I get the property back.

 

Also sell the bad debt that would also help make up a percentage of the non payers.

 

-- added

 

 

I think now would be a good time to buy debt if I had pocket fulls of money (and it would not be that much.), I would soon nvest in what will soon be good debt at rock bottom prices..

one would make a right packet for himself...

 

 

 

 

 

 

It would be interesting to see the Ratio to work out the average loan per person per house. :D

 

 

then just advise the powers that be, and just make the money to give the banks and make sure they can never do it again all shared in proportion the bank or liability linked with it has been sorted out.