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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Since I have no debt nor own a house I will be expecting my check written to me for cash thank you. -
Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Great find Mega! That certainly helps to explain the the stock market's non-stop rally for the past month.
Would they really do it? Sunshyfan makes a good point, it's not very equatable. Such a blatant move to buy votes, too.Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Originally posted by dummass View Post
Great find!!! It was already on iTulip, though:
http://www.itulip.com/forums/showthr...bt-forgivenessComment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Oh, hadn't seen the other thread. Shame on you, Mega.Originally posted by Chomsky View PostComment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Was not available to the peanut gallery of which Mega and I are both fully subscribed but unpaid members :-) Thanks Mega for the link, thanks to itulip for the free seat.Originally posted by Chomsky View Post"that each simple substance has relations which express all the others"Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
What about people that behaved RESPONSIBLY or that have no housing debt? What do they get?Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
We will get nothing but inflation!
jimComment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Not really, since neither Mega nor I can access that section of Itulip.Originally posted by dummass View PostComment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
They won't do it so obviously. The RESENTMENT would be enormous. Talk about moral hazard. IF Obama did something so stupid I would NEVER vote Democrat again. EVER. I am currently a life long Dem.Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
From Calculated Risk -
Several people have sent me a political blog post on Reuters: An August Surprise from Obama?Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billionThe blog post includes the poorly considered proposal from Morgan Stanley (that Tom Lawler responded to last week), and an excerpt from a July 16th Goldman Sachs research note that suggested "while there are ways in which the GSEs could provide support through policy, the effects on the broader economy would ultimately be fairly modest."
Not exactly foretelling a "gigantic bailout".
This nonsense is part of the silly season. Sure, some small changes could be made to Fannie and Freddie, but nothing like this post would suggest.
Not. Gonna. Happen.
Alert Drudge and the tinfoil hat sites - they will run with this story. It is a political post ... I'm already sorry I mentioned it.Comment
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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.Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Why? I think it would be more fair to let the system correct naturally and quickly without Gov intervention. Feed the hungry and aid the sick but quit trying to prevent failure. It just doesn't work. We would be well on our way to a better world if they would have let things go down in '08. The poor are not going to be hurt by the correction. Anymore than they are hurt by the current corrupt capital formation regime.Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Not sure if the above was meant to be serious but if so...Originally posted by jtabeb View Post
What about people who rent to avoid housing bubbles? Do they get a check?
I'm not sure what's fair about a government that collects taxes in unequal amounts, refunds part of it in equal amounts and then keeps the rest for this "service".
Why not just have Timmy G print a billion dollar bill for each American and mail it to them. Screw over every creditor and every saver with any assets based on the dollar. That seems like a "fair" solution. Like Fight Club only without the explosions.
I agree with the above posters that this is not likely to happen. The funny (sad) part is that nobody seems to disagree that it's within the president's power to simply void billions of dollars of debt for a select group of votes, oops I mean people.Comment
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Re: Welcome to the USSR 2.0......The "Peoples" baleout!
Yes, if you have no debts and you were responsible, YOU GET A CHECK!!
EXACTLY!!!
Debtors and irresponsible ones have to use the money to pay off debt FIRST.
Your REWARD for being a smart steward of your money and living frugally is a one-time increase in your purcahsing power, while others get the REWARD of paying off the debts or getting out from their underwater house.
We don't want FIGHT CLUB or WWIII, we want a peacefull solution that is fair to all parties involved. This REQUIRES COMPROMISE.
If anyone has a BETTER COMPROMISE, I'd love to hear it. If not, I say WE GO FOR IT!Last edited by jtabeb; August 06, 2010, 01:41 PM.Comment
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