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Government plans new credit, mortgage programs
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Anon | 8:42 a.m. Nov. 25, 2008
If you wanted a more popular fix, give the billion$ to the consumers to spend as
they see fit.
Doodles | 8:52 a.m. Nov. 25, 2008
If lending is "vital " to our economy, as this article states, we are
in terrible trouble. Solvency should be far more important than lending. How
well we can live within our means, not how far we can get into debt, should be
the measure of our economic well being.
$800 billion? | 9:05 a.m. Nov. 25, 2008
With $800 billion dollars you could build one safe thorium nuclear power plant
in each state, provide free energy to the US population for hundreds of years
and still have $500 to $600 billion dollars left over to "save" the
lending industry!!!
Comments continue below
Ticked | 9:12 a.m. Nov. 25, 2008
And where is he getting the money for that? From those of us who didn't
live off from debt and so are still paying taxes? Or is the Federal Reserve
just printing up more "money" so they can loan it to the government
and increase the interest that they say we owe them thus increasing our taxes
and causing inflation.
If we've lived without debt for two months now why don't we just continue and get the "Gadianton Robber" Federal Reserve Bankers and their international buddies off our backs.
Remember, If you are one of these "honorable[?] men of the earth" who has been "blinded by the craftiness of men" you can only attain the Terrestrial Kingdom.
If we've lived without debt for two months now why don't we just continue and get the "Gadianton Robber" Federal Reserve Bankers and their international buddies off our backs.
Remember, If you are one of these "honorable[?] men of the earth" who has been "blinded by the craftiness of men" you can only attain the Terrestrial Kingdom.
wasted money | 9:38 a.m. Nov. 25, 2008
Great, making it easier for people to get further into debt is a fantastic
idea...BONEHEADS
Anonymous | 9:54 a.m. Nov. 25, 2008
Anyone who knows anything about Freddie & Fannie knows that this was the
problem in the first place.
Anonymous | 10:02 a.m. Nov. 25, 2008
There's rules about credit the me generation willfully forgot. You never
use credit for expendable items. Credit is good used to pay for value added
items like homes and education.
Many here aren't thinking in the big picture of economics. Car dealers use credit for inventory. This is called flooring cost. You buy the car, the loan is paid and the dealer barrows for another car to sale.
If you raise turkeys, you may use credit to float your business until November. If you own a ski resort, you may barrow for improvements and salaries in the summer.
Most of your jobs rely on credit. You will learn this in the coming months. You will see construction runs on loans. See if your new piece of Broadway gets financing.
Hope there is a huge margin in skiing. If the margin is less than 12% you may see ski resorts tanking as they can't make payments next spring.
Many here aren't thinking in the big picture of economics. Car dealers use credit for inventory. This is called flooring cost. You buy the car, the loan is paid and the dealer barrows for another car to sale.
If you raise turkeys, you may use credit to float your business until November. If you own a ski resort, you may barrow for improvements and salaries in the summer.
Most of your jobs rely on credit. You will learn this in the coming months. You will see construction runs on loans. See if your new piece of Broadway gets financing.
Hope there is a huge margin in skiing. If the margin is less than 12% you may see ski resorts tanking as they can't make payments next spring.
awh | 10:37 a.m. Nov. 25, 2008
This is so different from the way I have lived my entire life!
Need one of those money presses | 10:56 a.m. Nov. 25, 2008
I need to get me one of those money printing presses that the Fed Gov has. I
don't need 800 billion though, just a few hundred thousand a year would be
fine!!
confused | 10:58 a.m. Nov. 25, 2008
I just wonder WHO they are selling us to.
re: 800 billion | 11:01 a.m. Nov. 25, 2008
amen! that would be nice to be able to do. I wish i could stand behind a podium
and tell everyone i am taking 800 billion dollars as i see fit to fix the
economy with no strings attached, is this a democracy anymore? i dont know any
of these guys,as i see it barney frank and chris dodd and everyone else should
be either removed from office or put in jail, not taking more money.
They're slowly killing us ! | 11:08 a.m. Nov. 25, 2008
This is nonsense! Either they're the stupidist people in the world when it
comes to economics, or they want this nation to ultimately collapse. I believe
it's the latter.
If you haven't been listening to the prophets in recent years, nor in the last General Conerence, it's nearly past time to "prepare". As President Packer quoted, "if we are prepared, we have no need to fear" (that means temporal and spiritual preparedness). Now more than ever, we need to focus on the living prophets.
If you haven't been listening to the prophets in recent years, nor in the last General Conerence, it's nearly past time to "prepare". As President Packer quoted, "if we are prepared, we have no need to fear" (that means temporal and spiritual preparedness). Now more than ever, we need to focus on the living prophets.
wallofvoodoo | 11:14 a.m. Nov. 25, 2008
Great, more money means the prices of everything will go back up. Gas, housing,
cars, food etc. The only thing that will not go up with it is wages. Those will
stay low except for the CEOs.
Making loans easier? | 11:28 a.m. Nov. 25, 2008
Isn't that what led to the financial crisis in the first place? Giving
loans to people who didn't qualify? I have no problem with the healthy use
of credit in business, I have a major problem with the federal government
ordering banks and loan companies to give loans to people who can't afford
it. We're going to create another bubble that will surely pop--and next
time who knows what will happen to our national economy.
Obama | 11:29 a.m. Nov. 25, 2008
$700 billion here, $800 billion there, now Obama wants to toss in OVER seven
trillion. When asked were the money would come, the comenatator said,
"well, from loans" What Loans? who can lend that kind of money?
I'm certain it will be the democrat way of raising taxes. Take from the
poor to feed the rich.
Anonymous | 11:55 a.m. Nov. 25, 2008
There fruits of trickle down economics, deregulation and wealth redistribution
are bitter to shallow.
I told people conservative economics were a poly for a few to enhance their wealth.
Notice "Obama" above. Bush has bailed out how many? This conservative attempting to escape personal accountability blames a man who hasn't done anything yet. Little wonder, daily conservatives lose more respect. If he had read yesterday, Obama proposed a tax cut.
I told people conservative economics were a poly for a few to enhance their wealth.
Notice "Obama" above. Bush has bailed out how many? This conservative attempting to escape personal accountability blames a man who hasn't done anything yet. Little wonder, daily conservatives lose more respect. If he had read yesterday, Obama proposed a tax cut.
Re: Anonymous 11:55 | 12:19 p.m. Nov. 25, 2008
You is Talkin, but I don't know what your Sayin!
Anonymous | 12:21 p.m. Nov. 25, 2008
So if I stop paying on my house will the government pay for that too?
re: Anonymous 11:55 | 1:04 p.m. Nov. 25, 2008
I'm not blaming. I'm stating the hard, true facts. Sure a politician
will propose tax cuts but in the end "We the People" ALWAYS see tax
hikes and it is usually, always a democrat that raises taxes the highest. No
blame, just fact.
Here is a number for you to swallow. 7,000,000,000,000. Now, tell me how anyone can borrow that much money and NOT raise taxes? There's not a bank out there that will lend that kind of money. It will mostly come from the middle class. That's why Obama wants the middle class to survive. The middle class is the stabbing victim in this mess.
Here is a number for you to swallow. 7,000,000,000,000. Now, tell me how anyone can borrow that much money and NOT raise taxes? There's not a bank out there that will lend that kind of money. It will mostly come from the middle class. That's why Obama wants the middle class to survive. The middle class is the stabbing victim in this mess.
Out of debt | 1:05 p.m. Nov. 25, 2008
I'm 37 years old and OUT OF DEBT. I'm married with four kids and have
lived way below my means for 15 years of marriage. I only buy what I can pay
for that month. I pay myself first and bought a smaller home on a ten year
(that's right!! TEN YEAR) mortgage. I own my house, my cars and have no
credit card debt.
Try it. It's a fantastic way to live.
Those who understand interest, EARN it. Those who don't PAY it!!
Try it. It's a fantastic way to live.
Those who understand interest, EARN it. Those who don't PAY it!!
Key to personal finance | 2:15 p.m. Nov. 25, 2008
Spend less than you earn.
re: Out of Debt 1:05 p.m. | 2:29 p.m. Nov. 25, 2008
Let's hope your wife doesn't decide to divorce you and take more than
half of your income, your house and your retirement. Hope that your kids
don't crash your cars.
You should live in FEAR of what God may have in store for you. Especially with the way you brag about it.
I too live mosty debt free but I can also understand that there are many who can't because of circumstance. True enough, you're pointing at the people who decided to live only on loans, etc and now are in fear because they can't pay for it all and they didn't plan for their future. Just be careful of "how" you throw your stones.
You should live in FEAR of what God may have in store for you. Especially with the way you brag about it.
I too live mosty debt free but I can also understand that there are many who can't because of circumstance. True enough, you're pointing at the people who decided to live only on loans, etc and now are in fear because they can't pay for it all and they didn't plan for their future. Just be careful of "how" you throw your stones.
C.w. | 2:34 p.m. Nov. 25, 2008
Its too bad that the govt. keeps going on and on about all these
"bailouts". They are really victimizing the gen'l public and/or
moving whatever debt (and it will be a lot)we accrue to our kids or our
grandkids. I don't think the average rational adult wants this, but it
seems no matter what we do, we MUST assist big companies that GOT THEMSELVES in
trouble! For some reason the "catastrophic" events that Bush referred
to almost 2 mos. ago now didn't happen, (or maybe they happened and our
economy survived anyway.) Its too bad the Am. public has to be victimized like
this! We really don't deserve it.
Wow | 3:01 p.m. Nov. 25, 2008
Freedom is expensive.
Russian | 3:20 p.m. Nov. 25, 2008
A leading Russian political analyst has said the economic turmoil in the United
States has confirmed his long-held view that the country is heading for
collapse, and will divide into separate parts.�The dollar
is not secured by anything. The country�s foreign debt has
grown like an avalanche. By 1998, when I first made my prediction, it had
exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that
can only collapse.� Dissatisfaction is growing, and at the
moment it is only being held back by the elections and the hope that Obama can
work miracles. But by spring, it will be clear that there are no
miracles.�
He predicted that the U.S. will break up into six parts - the Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong.
He even suggested that �Russia could reclaim Alaska.� *** I dread having to drive to California for Chinese food.
He predicted that the U.S. will break up into six parts - the Pacific coast, with its growing Chinese population; the South, with its Hispanics; Texas, where independence movements are on the rise; the Atlantic coast, with its distinct and separate mentality; five of the poorer central states with their large Native American populations; and the northern states, where the influence from Canada is strong.
He even suggested that �Russia could reclaim Alaska.� *** I dread having to drive to California for Chinese food.
Crazy | 3:32 p.m. Nov. 25, 2008
Look at the first line of the article. "The government, still struggling
to manage a severe financial crisis". Right there is the problem. The
government shouldn't be struggling to manage the financial crisis. They
should keep their big noses out.
Dave | 4:18 p.m. Nov. 25, 2008
US national debt is less than 1 year. Were still the top Nation in the world.
Most Countries have multiple years of national bedt based on GDP. The world
needs a year of Jubilee as the Israelites practiced.
Dave | 4:48 p.m. Nov. 25, 2008
I made a great buy on a truck recently. Paid cash. When I went to my bank I
was turned down for a $6,000 loan on a low mileage vehicle that NADA said was
worth $14,000! I have never been turned down for a loan in my life and they told
me I had a perfect payment history. They said the loan wasn't adequately
secured. They have the money...they just aren't lending the money. Make
sure you actually have the loan before you make the deal.
Here's a Great Tip!! | 5:23 p.m. Nov. 25, 2008
Don't buy what you can't pay for!!!!
Good Heavens, Americans are officially the dumbest consumers on the globe. Learn about interest and what things REALLY cost when you borrow money to buy them.
"Credit" + "Stupidity" may prove to be the failure of American society.
Good Heavens, Americans are officially the dumbest consumers on the globe. Learn about interest and what things REALLY cost when you borrow money to buy them.
"Credit" + "Stupidity" may prove to be the failure of American society.
Nooooo! | 5:55 p.m. Nov. 25, 2008
MAKE THEM STOP!!
Anonymous | 6:22 p.m. Nov. 25, 2008
Government bail outs.
More socialism.
LOL!
More socialism.
LOL!
Can we conceive of this? | 7:11 p.m. Nov. 25, 2008
$800 billion!? $1 billion equals $1000 million! $800 billion equals $800,000
million Do we realize this represents approximately $320,000 for every man,
woman and child living in the US? Where are we going to get this money? Who
thinks we can do this? Stop this insanity! We don't have the money! This is
beyond stupidity! This is financial suicide! Stop it now! Stop this nonsense!
at least | 7:54 p.m. Nov. 25, 2008
i get my student loan..the world is comming to an end and i don't even
care...duh , duhduh, duh..dunn!
NOW, NOW | 7:59 p.m. Nov. 25, 2008
WE all knew this had to happen ..just let all go down the drain because i'm
going to make it , i'm a survivor...your spoiled kids will probably asking
me for help and protection once again and that's the facts jack!
Next? | 8:24 p.m. Nov. 25, 2008
Next is your government "managed" health care! You think $800 billion
is alot of money? Wait till we get the bill for Hillarycare!
Fair | 8:37 p.m. Nov. 25, 2008
I think I learned the concept of "fairness" from my 2nd or 3rd grade
teacher about 50 years ago. I wonder if all the bankers and auto co's.
ever learned the concept. Its NOT "fair" to make 20million or more per
year, run a company into the ground, and then ask taxpayers to pay for your
mistakes. Its NOT FAIR to spend thousands of dollars of the taxpayer money on
lavish spa retreats while at the same time asking taxpayers to foot the bill.
The average American has very high ethical values and the concept of
"fairness" was instilled in them at a very young age. I wonder what
happened to the leaders of these co.'s that they have no sense of right and
wrong. Is right and wrong only defined by what you can get away with? Maybe
they all need to be sent back to 2nd grade so they can get the basics down
BEFORE they lead thousands of employees of their companies into bankruptcy, (not
to mention taxpayers).
GTO | 8:57 p.m. Nov. 25, 2008
A sign over Arlington Military Cemetary reads, "We gave our todays for your
tomorrows"! Perhaps there should be a sign over the halls of congress that
reads, "we gave your tomorrows for our todays"! How will our children
ever pay these bills we will leave them?
It's easy | 11:17 p.m. Nov. 25, 2008
The way our children will pay these bills is that today's dollar will be
worth about 10 cents in a couple of years as a result of this. You think a penny
is worthless now? In a couple of years the dollar won't be worth much more.
You'll pay about $100 for a gallon of milk, and the minimum wage will be
about $1,000 an hour. Your retirement funds will be worthless, as the government
has trashed the value of our money.
As a result, the 2 trillion dollar bailouts of today will be easily paid back as the 2 trillion will become worth about 2 billion in today's money as a result of this.
As a result, the 2 trillion dollar bailouts of today will be easily paid back as the 2 trillion will become worth about 2 billion in today's money as a result of this.
MikeT | 12:48 a.m. Nov. 26, 2008
give 7 million people $100,000 dollars to pay off their homes and credit card
debt. you have to be a home owner and make under $100,000 a year. do the math
700 billion dollars. and it would be the tax payers that got the relief. No
house payment or credit card payment. I asked 100 people what they would do then
and they all said they would buy a new car. sounds like it would help
everyone...
Oh Boy | 12:49 a.m. Nov. 26, 2008
The government is granting universal amnesty to those who spent more than they
earned. There are many (including my family and I) who have sacrificed things
that we wanted becuase it would have caused us to go into debt. This just isnt
fair! I also think that it is interesting that the government is buying shares
of companies in order to be in more control of the economy. Isn't that
socialism?
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