add another mouth to the growing list of mouths who say we are in for some extra hard times... thanks for trying to tell us barofsky.. thanks for doing your job even tho you were never suppose to in the first place..

think its overwhelming for the USTreasury now?!

just wait as the FED starts demanding repayments at Their loan-windows, & the troubled assets they redeemed at face value for their 1/2 Trillion$ stash of Treasury Notes & Bonds, swapped by the banks & investment firms that were too-big-to-fail...

The FED refuses to allow inspection of their 'balance-sheet',
which most of the economic/financial spokespersons say is in greater peril than the negative $9-12 Trillion that the USTreasury has.


One-Of-These-Days -Alice....KaPow! right-up-to-the-moon

Of course they are in more trouble now. By receiving bailout funds, all they did was increase their debt (let's pretend they are really supposed to pay it back) and not change one single business practice.

When a company continues to operate in the same manner in which it almost went under, it's sure to go under again. And again.

I wouldn't get too worked up yet though. Things are going to totally bottom out in January.

Citibank is up to 29.99% APR. Bank of America is currently at 21.99%. And they just keep rising. Unfortunately, the people that were paying, will slowly no longer to be able to. Then the rates will go even higher.

Obama has certainly bought the banks enough time -- by announcing legislation intiatives to cap fees and rates but not actually doing anything -- to try and suck as much money out of people as possible. Whatever rates and fees are implemented prior to the legislation passing, will be "grandfathered" in.

I have a feeling that retail sales will be "better than expected" during the holidays. But come January, bankruptcies will be higher than expected as well since nobody will actually be able to afford what they bought in November and December.

I personally think people are getting antsy and waiting for something to make it OK to start spending money again -- the Holidays are the perfect reason to splurge.

You can not build back an economy on air -- which is exactly what is happening. Unemployment continues to rise -- 7,000+ people a day are LOSING their unemployment benefits. Which basically means 7,000 more people a day that have no money to pay back - or pay for - anything.

If you read about people collecting unemployment, they say they wipe out their savings account and then use credit cards to pay for their groceries, rent, phone, etc. They count on the fact that they can "right themselves" once they are employed again. The problem is -- that never happens.

That's yet another reason why you can't just keep throwing money at a problem to make it go away. Had unemployment remained low, the bailout could have possibly (stress possibly) worked. But with unemployment continuing to rise, businesses continuing to go under, foreclosures continuing to rise, etc -- there is sadly, no happy ending to this story.

Come January 2010, the government is faced with possibly defaulting on a loan received from China. I just can't wait to see what China is going to walk away with to make THAT debt disappear. My guess is that whatever the deal reached, more Americans will be out of work as a result.

Originally posted by lpowell0627
Come January 2010, the government is faced with possibly defaulting on a loan received from China. I just can't wait to see what China is going to walk away with to make THAT debt disappear. My guess is that whatever the deal reached, more Americans will be out of work as a result.

We could give them our land...... wait, no America's not for sale, oo oo I have an idea.... we could give them our children as slaves! No....No..people might be against that......hmmmm.......are you against that?............