Welcome to the USSR 2.0......The "Peoples" baleout!

[Jay]

Re: Welcome to the USSR 2.0......The "Peoples" baleout!

What if everyone got the same amount, across the board. Same moral hazard for all. I for one, would not object to that, not in the least. How would you feel about that, an equal payment for everyone, that would be fair at least.

Why would you object, gold would go bananas! That would be the another even bigger step toward direct debt jubilee and unsterilized printing.

[Jam]

Re: Welcome to the USSR 2.0......The "Peoples" baleout!

$800 billion divided among 307 million Americans yields about $2600 per person. For a family of four, it is about $10k. It would be nowhere near enough to get out from an under-water mortgage.
On the other hand, if the funds were provided only to those under water, the money would go straight to the bankers (as debt payment). So, another transfer of wealth to the rich.
On yet other hand , my understanding is that most of the mortgages are on the books of Fannie Mae and Freddie Mac, so such 'bailout' would be just a transfer of money between parts of the government. So, financially, it would make no difference. All the difference would be in perception, or how the government would spin such an act.

[dummass]

Re: Welcome to the USSR 2.0......The "Peoples" baleout!

Why would you object

Petty Jealousy, of course ... Duh

[jtabeb]

Re: Welcome to the USSR 2.0......The "Peoples" baleout!

This is rumored to be THEIR plan, not mine. I'm just trying to suggest a way to make it fairer, that all. SHEESH!

And besides, doesn't everyone know enough to own at least some gold by now? What do you expect, DEFLATION or something?