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Author Topic: $700 billion bailout out has bailed. I mean....failed.  (Read 2405 times)

Offline GigaShadow
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$700 billion bailout out has bailed. I mean....failed.
« Reply #15 on: September 30, 2008, 10:21:55 AM »
Quote from: JBean
we are long overdue for a market correction...(especially the housing market).  Only problem is we\'ve bouyed the economy for quite a while now on credit and now that credit has dried up.. the correction is going to be pretty severe.

My 401K is in the tank too... but I\'m young enough that I\'m not too worried.  I figure I\'m buying while everything is on "sale".  The market will pick up within the next 5 years and my return will be quite handsome in another 10 years or so (I hope).


That is a good outlook.  I am thinking the same thing.
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Offline Coredweller
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$700 billion bailout out has bailed. I mean....failed.
« Reply #16 on: September 30, 2008, 12:10:58 PM »
Quote from: GmanJoe
I reduced my 401k from 10% to 5%.
I am in the same situation as everyone else on my 401K, but I think that reaction is the opposite of what you want to do.  You should be maximizing your contribution and buying right now (if you can afford it).
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Offline Eiksirf
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$700 billion bailout out has bailed. I mean....failed.
« Reply #17 on: September 30, 2008, 12:53:59 PM »
Had that thought as well. Buy low, as they say. I just picked up 401k papers today to continue contributing to my existing plan from my last job...
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Offline shockwaves
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$700 billion bailout out has bailed. I mean....failed.
« Reply #18 on: September 30, 2008, 07:00:17 PM »
Quote from: GigaShadow
Don\'t bail em out.  Let the market correct itself.


Absolutely could not agree more.  This shit happened because of flaws in the way people were doing things, and people being stupid and greedy.  Let them learn their lesson.  It\'ll correct itself.
.::§hockwave§::.

Offline GmanJoe

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$700 billion bailout out has bailed. I mean....failed.
« Reply #19 on: October 01, 2008, 04:19:36 AM »
Quote from: Coredweller
I am in the same situation as everyone else on my 401K, but I think that reaction is the opposite of what you want to do.  You should be maximizing your contribution and buying right now (if you can afford it).


Well, I reduced it before this fiasco. I just bought a new house. Need more liquid assets to get a few things added like blinds, home theater seating and projector, Big Green Egg grill (the best of the best for grilling/bbq\'ing).
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Offline clips

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$700 billion bailout out has bailed. I mean....failed.
« Reply #20 on: October 04, 2008, 02:58:31 AM »
The Panic of 1873
1) Followed a period of post Civil War economic overexpansion
2) The Black Friday panic of 1869
3) The Chicago fire of 1871
4) The outbreak of equine influenza in 1872
5) The demonetization of silver in 1873

VS.

Sub-Prime Crisis of 2008
1) Follows a period of post World War 2 economic overexpansion
2) The Tech-Bubble Burst of 1999
3) September 11, 2001
4) Inflated gas pricing
5) ??? THE BAILOUT BILL ???


^^^I found this at some random site...the comparison is interesting.
knowledge, wisdom & understanding..these are the basic fundamentals of life

if you can\'t amaze them with brilliance, baffle them with bullsh*t....

Offline clips

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$700 billion bailout out has bailed. I mean....failed.
« Reply #21 on: October 04, 2008, 03:56:51 AM »
Here\'s some of the the stuff or "pork" that was added to the 700 billion bailout, which actually added another 150 billion,...republicans did not like the first bill the dems sent to them, so they loaded up on the pork and now it gets approved,....and it seriously has me questioning how much of a crisis that we are actually in....everybody was saying that if we don\'t do something quick everything will fall,....now that we have a bill with something for everybody, all is well?...i smell bulls**t of the highest order brewing.....there are some good things in it, but there are also ALOT of things that are not neccessary....here\'s a small of some of the things they added to the new bill...which puts it at about 850 billion by the way...


Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.

Sec. 309. Extension of economic development credit for American Samoa.



Sec. 312. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.


Sec. 314. Indian employment credit.


Sec. 317. Seven-year cost recovery period for motorsports racing track facility.

Sec. 321. Enhanced deduction for qualified computer contributions.


Sec. 324. Extension of enhanced charitable deduction for contributions of book inventory.

Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.



Sec. 401. Permanent authority for undercover operations.

Sec. 402. Permanent authority for disclosure of information relating to terrorist activities.


Sec. 502. Provisions related to film and television productions.

Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.

Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.

Sec. 505. Certain farming business machinery and equipment treated as 5-year property.


Subtitle B—Paul Wellstone and Pete Domenici Mental Health Parity and

Addiction Equity Act of 2008

Sec. 511. Short title.

Sec. 512. Mental health parity


There\'s far more other stuff that they added that deals with renewable energy and i kinda agree with some of those policies, but here? just look at some of the stuff they want added....an absolute waste.....s**t like this just makes me believe that bush & co. were conjuriing up scare and fear tactics just to save wallst. Both parties should feel ashamed for how they proceeded during this crisis if there was truly one....politicians are afraid to sign on this bill fearing that if it doesn\'t work, they\'ll be blamed for it, yet they want to take credit for it at the same time if it does works,..both sides are playing games.
knowledge, wisdom & understanding..these are the basic fundamentals of life

if you can\'t amaze them with brilliance, baffle them with bullsh*t....

Offline GigaShadow
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$700 billion bailout out has bailed. I mean....failed.
« Reply #22 on: October 04, 2008, 05:52:31 AM »
Quote from: clips
Here\'s some of the the stuff or "pork" that was added to the 700 billion bailout, which actually added another 150 billion,...republicans did not like the first bill the dems sent to them, so they loaded up on the pork and now it gets approved,....and it seriously has me questioning how much of a crisis that we are actually in....everybody was saying that if we don\'t do something quick everything will fall,....now that we have a bill with something for everybody, all is well?...i smell bulls**t of the highest order brewing.....there are some good things in it, but there are also ALOT of things that are not neccessary....here\'s a small of some of the things they added to the new bill...which puts it at about 850 billion by the way...


Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.

Sec. 309. Extension of economic development credit for American Samoa.



Sec. 312. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.


Sec. 314. Indian employment credit.


Sec. 317. Seven-year cost recovery period for motorsports racing track facility.

Sec. 321. Enhanced deduction for qualified computer contributions.


Sec. 324. Extension of enhanced charitable deduction for contributions of book inventory.

Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.



Sec. 401. Permanent authority for undercover operations.

Sec. 402. Permanent authority for disclosure of information relating to terrorist activities.


Sec. 502. Provisions related to film and television productions.

Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.

Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.

Sec. 505. Certain farming business machinery and equipment treated as 5-year property.


Subtitle B—Paul Wellstone and Pete Domenici Mental Health Parity and

Addiction Equity Act of 2008

Sec. 511. Short title.

Sec. 512. Mental health parity


There\'s far more other stuff that they added that deals with renewable energy and i kinda agree with some of those policies, but here? just look at some of the stuff they want added....an absolute waste.....s**t like this just makes me believe that bush & co. were conjuriing up scare and fear tactics just to save wallst. Both parties should feel ashamed for how they proceeded during this crisis if there was truly one....politicians are afraid to sign on this bill fearing that if it doesn\'t work, they\'ll be blamed for it, yet they want to take credit for it at the same time if it does works,..both sides are playing games.



Both McCain and Obama voted for this crappy bill.  WTF?  Our government sucks.  Now California is wanting 7 billion... Once the government starts handing out money everyone wants some.  Big government = bad.
\"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.\"  - Churchill
[/i]
[/size]One Big Ass Mistake America

Global Warming ROCKS!!!![/b]

Offline luckee
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$700 billion bailout out has bailed. I mean....failed.
« Reply #23 on: October 04, 2008, 11:43:35 AM »
Fuck those that squander opportunity and resources. Someone else will come along to replace them. Unfortunately, with these large institutions, it will be the Arabs and the Chinese. :(
\"Booze, broads, and bullshit. If you got all that, what else do you need?\"-Harry Caray

Don\'t cry over spilled milk., It could have been Whiskey.-Me

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