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As I understand it the 700 billion dollar's are not real dollars but more of a loan that is to be paid in the next 5 years. Or the way I like to think about it as adding 700 billion to the great big US credit card.
It's called fear mongering. They know that the people don't want it. So they are trying to scare us into thinking "it's the savior", when in actuality, it would be the beginning of something much worse than we are seeing now.
Right you are. This is what I posted on Randy's blog:
"Many analogies come to mind to describe this. Ripping off a bandaid in order to minimize time of pain, but to get it over with? That describes it for me.
But the best is right infront of us. It's called a "bail out", which essentially does what it says. Bail is set at $700bn, but it only buys us a small amount of freedom until we get the final verdict...Guilty. Guilty of false riches, and not enough capital to support it. Let's leave the $700bn as unprinted paper (save a few trees), and consider this as part of time served...and for goodness sake, rip off the bandaid.
Maybe the rant doesn't make sense in writing, but it sure makes sense in my head...scary huh?"
States and cities will be given money to pay the property taxes and for the upkeep on the homes.
Now, as far as your pay. The bailout has nothing to do with that. That is fear mongering. My grandmother was a school teacher and got paid vouchers, not money. There was a black market for the vouchers to trade for cash or food, etc. The world did not end, even in one of the bleakest of times! Therefore, I do not believe the world will end now.
this money is not going INTO the economy. it is being applied to debts and wallst bank accts. there are many alternatives like taxbreaks and public works programs that DO run the money through the economy. the money will evaporate as applied to debts because it stops in accounting liabilities and capital are seperate assets.
the fear mongering comes from the uninformed side who makes things up all the time
and just an FYI if the money is applied to the debts, the debtors are china alot of the time. so we lose double the 700B from our economy if it is applied to chinese held debts
NTETS is right. What 700 Billion? It can be spent elsewhere? It really isn't ours in the first place. Every news place shows it being added onto our natl debt, because we are BORROWING it.
Can't spend whatcha don't have!
I'm enjoying spending money I don't have on the VISA card at 0% interest and not worrying about where the money will come from to pay it off.
There is not enough time in the world to spend all the imaginary money that is available.
There also is not enough space to store everything one might buy.
Besides, what is the point of working so hard to accumulate pretend financial assets if one is never at liberty to enjoy them?
For Everything, there is a season; and now may be the season to splurge.
Bailout the investment banks? I don't think what the senate passed is a good way to do that, not to mention, I don't think any of them read it.
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How is it that state employees will be affected?
Pedro Reyes, "Vote4Pedro"
Maywood
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Why are we screaming fire? If we do not lend the money to Wall St. Doesn't that mean that we as a country are 700 billion dollars richer? We in essence have 700 billion to move through our economy, from state to state, city to city to be used by our elected leaders and their staff for the taxpayer's purposes.
I heard in the news that if the bill does not pass that the states will not have credit with banks to pay teachers and state employees. Sorry but don't we have 700 billion dollars in taxpayers money to pay salaries with? It didn't go to Wall St. so how is it that all of a sudden that money is not available to us when it is still in our account.
Only ones that would be the private sector.
I also heard that Businesses will not be able to borrow to pay employees. Balogney! If you have to borrow to pay employees you probably won't be in business for long since that is saying that you are not grossing enough to cover business expenses. So let that business sink. That's the life of a business person. It's hit or miss.
Meanwhile the US is 700 billion dollars richer because we decided to keep it, rather than giving up our rights to it.
If you give up your rights to have your elected officials to run your taxpayers funds we are dealing with Economic Totalitarianism.
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