So... $47 billion for a temporary bailout, yet not a penny towards correcting what caused this mess in the first place.

Whatever happened to "Cure the problem, not the symptom"?

Originally posted by gb540
So... $47 billion for a temporary bailout, yet not a penny towards correcting what caused this mess in the first place.

Whatever happened to "Cure the problem, not the symptom"?

Temporary bailouts is what this country has specialized in since 1913 when the Fed cartel began devaluing our money with their Debt Notes. The 'dollar' is worth somewhere around 2 cents compared to its value in 1913. Inflation has been accepted as something normal and we will see our fiat paper collapse like every other in History.

I have been interested to know, and maybe some of you could give your input, 1) what does the TIC released today have to say? 2) how much debt must be bought monthly by foreigners to pay the interest on our debt? 3) How high can the debt go before no amount of debt purchase will stem it?

The Fed cannot continue its' reckless course of stoking the fires of inflation. The only thing going for the Americans right now is the war in Iraq.

Without the military machine grinding out its' production, the general public would not be able to pick up the slack, and a major recession would result. Bigger than the one in 81 - 82, and perhaps bordering on depression. Watch for it people, because this is by no means over.

This has nothing to do with the validity of the war, and everything to do with bailing out greedy corporate interests at the expense of the average American. Anything else is BS in my opinion.

Many borrowers in the subprime market assumed debts that they could never expect to pay if they were issued at market rates. This caused the continuing upward spiral in the real estate market, allowing for further extension of more improperly qualified credit.

Thankfully in Canada, we are somewhat insulated by our cumbersome lending rules. Paternalistic they may be, but they are what will save our citizens this time around. I have been lending money here for years, and although our borrowers are overextended, it is not as bad as in the States.

If you can, duck and cover, it is going to hit the fan soon.

Money really is the route of all evil and credit is for suckers!!!

Originally posted by KLSyesca
Money really is the route of all evil and credit is for suckers!!!

I believe the quote is " The love of money, is the root of all evil "

As to credit, no comment.

Cheers!

Originally posted by anhinga

9.1$ trillion in debt doesn't disappear....

This fraud of a banking system must be destroyed, or it will destroy us.


You cannot expect the US, or the human race for that matter, to ever pay back a debt with interest when the banks only create the principal of the loans.


The interest is never created, and THIS IS WHY EVERYONE IS IN DEBT.


The longer we allow these systems to prosper and feed off of our productivity, the sicker and uglier this world will become.

Originally posted by dionysius9
The longer we allow these systems to prosper and feed off of our productivity, the sicker and uglier this world will become.

Well said friend. Forgive the one-liner, but you have already said much.

I don't understand how basically printing money and dumping it into the banking system does any good for anyone. The only thing it does is weaken an already worthless dollar even more. The dollar has become the new Peso. Why do people think they can finance themselves out of credit problems? Just makes no sense.

A weak dollar is not going to help the economy like many markets hopefuls like to claim.

I actually have found in this boards some people that believe that a lower dollar is going to help imports.

But that can not be farther away from the truth.

What a weak dollar is doing is making more and more attractive the reminding companies in our nation that will go on sell as they can not compete any longer with developing nations that our own nation has help grow with free trade and globalization.

What many still do not understand is that as the dollar become worthless to pay for our deficits the standard of living for American citizens will also degrade.

Our government doesn't help either, it can not stop the sell out of our nation and refuse to invest on American and the people that they swore to serve when elected to office.

[edit on 17-11-2007 by marg6043]

To be honest I don't really understand all the numbers but it sure does sound very depressing. I'm sure the one good thing to come out of all of this will be a block buster Hollywood film.

[edit on 17uSaturday07/27/20 by paul76]