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Originally posted by they see ALL
...but this is scary....
Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
Originally posted by they see ALL Did you hear of all the bad things that might occur now that the Act was rejected? What about credit freezes, and companies not being able to make payroll, and ATM machines not dispensing money? I don't know how accurate these claims were (they were made on CNN, I think, if that makes a difference to anyone), but this is scary.
No. As long as this bail out plan does not pass, we win our continued freedom and self-respect.
Is it safe to say that either way we loose?
Originally posted by sir_chancealot
Let me ask the OP a question. Was the money going to be used to PAY OFF PEOPLE'S MORTGAGES, or was it going to go directly into the pockets of the people running those companies, and to the pockets of shareholders?
If it wasn't to go to paying of mortgages, then how exactly is it going to "benefit" anyone but the rich?
I don't have stocks, and have no desire to play them. (off topic to discuss exactly why). So, how is this going to hurt me?
I say let the market tank to sort out the wheat from the chaff. As panic sells shore up liquidity, stocks devalue across the board which in turn strengthens the dollar by having greater purchasing power. The stronger dollar reduces the price of oil and as fuel becomes more affordable more discressionary spending can take place.
Originally posted by Karlhungis
reply to post by Blueangel7
Downsize how? Sell your house and buy a smaller one? Good luck finding a buyer and then good luck getting a loan.
If you didn't take the steps to downsize a month or two ago, you are pretty much along for the ride now.
I am sorry if this sounded hostile. It wasn't meant to. I am just agitated because I have been thinking about downsizing myself, only to come to the realization that I am stuck until the economy stabilizes. The BIG PROBLEM is that it probably isn't going to happen for a long, long time.