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Sublime Peach





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  posted on 10/1/2008 at 05:44 AM
....

[Edited on 10/23/2008 by jerryphilbob]

 
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Extreme Peach



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  posted on 10/1/2008 at 07:33 AM
I would urge everybody to take a look at daveramsey.com. He does a daily radio talk show with common sense financial advice, and has a simple, practical course of action that doesn't involve taxpayer $.

 

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World Class Peach



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  posted on 10/1/2008 at 08:50 AM
I agree vote NO!

 

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Universal Peach



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  posted on 10/1/2008 at 10:00 AM
A Real Proposal for Solving the Crisis

By the time you read this the markets will likely be under the assumption that $700 billion of your money is going to be handed over to the private sector. However, I have a proposals that could address this crisis immediately.

As I've said before the problem is not access to credit right now - it's liquidity. Many people today started down the right path by suggesting an increase in FDIC insurance limits (currently $100,000). In theory, this might draw some additional capital into the system, but frankly if I'm worried about losing money due to bank failures I would just put $95,000 in each of 10 separate accounts at 10 different banks, 5 of which I'd actually tell my wife about

However, the reason I won't move money out of money markets into the banking system is because the returns are so pathetic. Banks need money (deposits) and in a nation dictated by capitalist rules like supply and demand, they way to gain deposits is by paying an above average market rate.

If banks were to offer one year CD's paying say 7% and a national campaign was launched to encourage purchase of CD's as a patriotic act (like the old War bond commercials) money would flood the banking system (and while we're at it let's bump the insurance on these CD's up to $500,000). Yes, you say, but banks would get killed paying 7% interest for a year.

Here's where the government can play a role - the government could make up the difference between the market rate (about 4.5%) and the above market rate (in this case 2.5%). If the US citizens deposited a whopping $1 Trillion in 1 year CD's, the cost to the government would be $25 billion. The banking system would be saved, you and I would earn a decent return, capitalism can flourish again and American can regain it's status as a global financial power thanks to some creative thinking.

Unfortunately, we're going to proceed down the path of a bailout for the banks that has no guarantee of increasing liquidity and will likely lead to lower confidence in our US corporations (see the post on mark to market).

***************************************************************************

 

Sublime Peach



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  posted on 10/1/2008 at 10:09 AM
OTF,

No, I didn't read it. I'm just knee jerking again! Why are you such an a$$? Don't you have anything better to do? Go find someone else to troll on. Jeez, get a life.

 

Ultimate Peach



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  posted on 10/1/2008 at 10:17 AM
The bill is 450 pages. No one knows what's in it except the one fool that got stuck writing it.

 

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Sublime Peach



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  posted on 10/1/2008 at 10:21 AM
I am against any bill that hands our democracy and billions of dollars over to the crooks that caused this mess in the first place. So if the bill includes anything like that, then I am against it. I suggest a bill for mainstreet, they will get it all in the long run anyway.

What would you do? Do you like the bill? Your going on and on but don't seem to have a take yourself? Whats up with that? You got a better idea? I certainly hope your not for this piece of legislation? But that would explain alot.

 

Zen Peach



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  posted on 10/1/2008 at 10:41 AM
Sure thing, jpb. When I'm on the floor of the Senate today, I'll vote no.

You're such a dumbass.

No one in this forum is voting on this bill. Congressmen do that.

Why did you change the title of your thread about your paranoia-induced shopping spree?

Why do you care which way they vote ? You've got your gun, right?

 

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Sublime Peach



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  posted on 10/1/2008 at 10:43 AM
See, this is crap we get from you. Why can't you just explain your position and do it in a way that is not condescending or demeaning? You don't have tear people down to get your point across. Sometimes it makes people feel better to tear people down? I wonder if you get off on it in some way? Your answer shows me you don't have an opinion and don't really know what your talking about. But yet, you keep going on and on. Classic. As for your experts, please show me one TOP economist that believes this package is a reasonable plan to save the economy. YOU CAN'T FIND ONE, THEY DON'T EXIST. The only people that support this plan is Wallstreet, your government, and the media? Connect the dots people. This is a huge scam.
 

Sublime Peach



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  posted on 10/1/2008 at 10:45 AM
The PEOPLE of America voted this piece of trash down by calling their politicians and telling them to vote NO. So pick up your phone, send an email, get to your state politicians and tell them to VOTE no for America. You do have a voice, let it be heard!
 

Zen Peach



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  posted on 10/1/2008 at 10:50 AM
I've been reading a lot about the new additions to the bill that goes up for a vote today. There are some things that have been added I don't believe the president will want to sign. I'm concerned over anything that's 450 pages long because in the past the devil has been on page 429, for instance, that no one reads and then everyone says they didn't know was there.....and yet it's usually to the detriment of the people.

I don't want our money going to Paulson and Wall Street after only a relatively short time. I think longer than that before making a $700 purchase. This is 700 billion!! And as I said before, I heard the bailout proposal had been presented to the president several weeks ago....why the bum's rush now?

 

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Maximum Peach



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  posted on 10/1/2008 at 10:55 AM
Paulsen is on a ego trip.

 

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Sublime Peach



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  posted on 10/1/2008 at 10:55 AM
BA,

That's how you play "wallstreet bailout". Inject fear, push urgency, shove it down our throats. Neat little game called screw the taxpayer. They are masters at it.

 

Zen Peach



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  posted on 10/1/2008 at 10:58 AM
quote:
As for your experts, please show me one TOP economist that believes this package is a reasonable plan to save the economy.


Economists are opinion merchants. You can get 100 "TOP" economists in one room and chances are you'll have 100 different opinions. That's what makes finance and economics what it is.

 

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Zen Peach



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  posted on 10/1/2008 at 11:00 AM
Why did you change the title of your paranoia thread, and delete all your posts?

When are you going to change the title of this thread and delete your posts here?

Have you taken you meds yet?

You accuse the government of "injecting fear." Well, it sure worked with you. You are freaking out about this more than anyone else.

I started a thread asking you to explain why you went through all your old posts, deleting titles and posts. You didn't answer. Here's another chance, while I go pull that thread back up.

 

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Zen Peach



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  posted on 10/1/2008 at 11:06 AM
quote:
The PEOPLE of America voted this piece of trash down by calling their politicians and telling them to vote NO. So pick up your phone, send an email, get to your state politicians and tell them to VOTE no for America. You do have a voice, let it be heard!



What I'm finding odd about the outrage by Americans is the selectivity of said outrage. The government spends ungodly amounts of taxpayer money on all sorts of things. $10 billion a month in Iraq, for instance, a country with a surplus. Thre is still no long-term way to pay for the Medicare Prescription Benefit passed a few years ago. The tax burden in just 30 or 40 years could be up to $20k per household annually, but there's certainly no outrage there.

[Edited on 10/1/2008 by Bhawk]

 

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Sublime Peach



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  posted on 10/1/2008 at 11:11 AM
I did answer your post, so go back and check it out. Second, I liked big Anns Kudzu thread, I though it was amusing. Is it a law that you can't change something here? Are you the board police? Should I be checking with you prior to doing something on the board? Why this game of "Gotcha"? I just don't want to play. Maybe you can play with your friends for awhile, they seem to up for screw your buddy.

I'm just not into tearing other board members down in order to get my point across. It seems that's all you guys can do. It really kinda makes you look bad. Try exposing your points without being jerks or having tear other people down. The next time you want to post something ask yourself this, "Would I say this to Gregg Allman"? If the answer is no, well, you get the idea. We are all Americans after all, well, most of us anyway.

Divide and conquer, that is what they like to do. That way you can't see their hand in the cookie jar.

 

Zen Peach



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  posted on 10/1/2008 at 11:19 AM
bigann didn't start a Kudzu thread.

Divide and conquer who? You are only one person.

Dude, you start more f*cking threads in this forum than anyone else. Sometimes I come to this site, and all I see are new threads by jerryphilbob. Why can't you just post in a thread that has already been started? Every time you start a new thread, you push one off the first page.

So it seems even stupider when you go back and delete the title, and your posts? What is the point?

Are you starting to get an idea why we all think you are a troll?

 

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Sublime Peach



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  posted on 10/1/2008 at 11:22 AM
quote:
What I'm finding odd about the outrage by Americans is the selectivity of said outrage. The government spends ungodly amounts of taxpayer money on all sorts of things. $10 billion a month in Iraq, for instance, a county with a surplus. Thre is still no long-term way to pay for the Medicare Prescription Benefit passed a few years ago. The tax burden in just 30 or 40 years could be up to $20k per household annually, but there's certainly no outrage there.



People are hurting and they are standing up and finally saying NO! You are right, there is alot of work to be done and a complete overhaul is not out of the question. What are we going to do when the boomers start to retire? Where is that money going to come from? I know one thing is for sure, we don't need to borrow any more money. Going into debt more is just plain stupid. You can't solve inflation by printing more money either? I would like to hear a really good argument as to why this plan will work? Has anybody heard one yet? I haven't.

 

Sublime Peach



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  posted on 10/1/2008 at 11:23 AM
SCB,


You are clearly the one that is being a troll. It is obvious to all. I don't tear people down the way you do or mock their post. If you don't like my post, then TFB.

 

Zen Peach



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  posted on 10/1/2008 at 11:25 AM
quote:


What I'm finding odd about the outrage by Americans is the selectivity of said outrage. The government spends ungodly amounts of taxpayer money on all sorts of things. $10 billion a month in Iraq, for instance, a country with a surplus. Thre is still no long-term way to pay for the Medicare Prescription Benefit passed a few years ago. The tax burden in just 30 or 40 years could be up to $20k per household annually, but there's certainly no outrage there.

[Edited on 10/1/2008 by Bhawk]


There is on my part. I've been outraged by this entire administration, congress included, and have all but shouted it from the roof top. If they pass this 'bailout' bill I want someone from Washington to personally go from door to door giving everyone a big kiss...it's the least they can do if they're going to continue to screw the American people.

 

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Zen Peach



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  posted on 10/1/2008 at 11:25 AM
There were lots of other threads about this bill. Hell, you've started a couple of dozen yourself. Why not just post in one of those? Why start a new thread?

 

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Zen Peach



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  posted on 10/1/2008 at 11:28 AM
quote:
SCB,


You are clearly the one that is being a troll. It is obvious to all. I don't tear people down the way you do or mock their post. If you don't like my post, then TFB.


What is obvious to all is that you have some wierd need to start as many threads as possible, and then delete them.

Why?

 

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Zen Peach



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  posted on 10/1/2008 at 11:40 AM
quote:
What are we going to do when the boomers start to retire? Where is that money going to come from?


Well, it certainly won't come from the smoking ashes of what was once Wall Street if your "eff Wall Street" dream comes true. Do you realize how many retirement funds are managed and affected by Wall Street?

 

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A Peach Supreme



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  posted on 10/1/2008 at 12:45 PM
I am curious to know how many people that have lost there homes are in the process of losing them are for or against this bill. Simply, America has overspent and Wall st. and the Governement have done nothing to stop it. The government is however trying to find a way out of this mess and time is of the essence. The economies of the world are at a stanstill and will be so until some type of floor is put into the credit markets. The consumer economy as we knew it is over. 70% of the GDP is the consumer whether you like it or not and if there is no deal the consumer will turtle and the ecoomy will quickly head toward depression. This, over a 5 to 10 year period is a good thing in that it forces saving from those with a job, however, the degree of deflation will be devastating. I would suggest that unless your mortgage represents less than 50% of the curent value of your home you will default if this scenario plays out. Much like the republicans were stupid not to pass this legislation Monday because of some name calling, the same holds true for those that sugest voting no to this will teach Wall st. and the Government a lesson. Inane reasoning. There has to be a starting point and the only real expeident solution is pass this bill, raise FDIC limits to $1mm per account, immediatley shut down any borrowing for real estate without at least 25% down, increase the Fed funds rate and increase taxes.

 

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