06WHITEMCSS

After a 777 point drop on the Dow, dos anyone here really care, or do you think it will fix itself after time? I for one have Railroad Retirement, I do not pay into Social Security, my wife does but she won't see any of it, when she retires. What is the concencious of the general population? I personally can't see $700 Billion going for any good, after all, if the government were to spread that money out to the tax payers, I think it would more than rejuvenate the economy! What do you all think? All I think it will do is make BIG business, bigger! And the Rich, Richer!

Sint3k

The "falling economy" hasn't really effected me i always have money?? i still have my house , my cars , food , bills paid. These days you can't be concerned with everyone else at least i'm not concerned dot dot dot.

neilownz

Just some bs to make ppl wanna vote.

20SS07

I myself am concerned. Whether you see it or not, if things continue downward, it WILL effect every single person here. If you think anything that is done will just be saving some rich people and making them richer than you're completely missing the bigger picture and the severity of what we're facing right now.

We've been having a pretty good discussion about this over the past few days about this over at NAIOA.

http://www.naioa.com/v2/modules.php?...wtopic&t=24532

cherrygxp

i lost money in my IRA's and my 401k. so ya i do care but there aint **** i can do about it.

Sint3k

If the rich don't get richer then who are you going to work for ? Maybe you need to see the bigger picture

Sint3k

Theres always some risk to these not just because of the "falling economy"

IMO its better to save your own money and make wise investments with it later on. Can't make money without money
.

20SS07

I think you're understanding what I'm saying. Alot of people think this is just some XYZ company that stands to be saved and that if they fail it's no big deal and a bailout would be just putting money into the pockets of those who failed these companies. When you have some of the largest banks failing, that's a little different than some random company. You CAN'T allow more of them to fail. We've had like 4 "once in a lifetime" events happen with some of the companies go under in timespan of 1 week.

And it's not a matter of "well I pay my bills on time and don't live beyond my means so why should I care deal." Every house that goes into foreclosure is going to further decrease home values for that area. People leave, services are either cutoff or taxes are raised. Everyone is effected.

And while naturally there is a risk to having money invested in 401k plans as there is with any investment it's foolish to suggest people should just save their own money and make "wise" investments. An investment that may seem wise now can easily turn to **** down the road. Besides, not being enrolled in a 401k if you can at your job means you're pretty much throwing away all that free money from the employer match.

I don't know if this specific bailout plan is the answer. But something has to be done, and anyone who thinks otherwise will be in for a rude awakening.

neilownz

They should have given us a bigger stimulus instead of giving this money to big business... I think I could have used it better than them.

20SS07

Giving out more money that half the people will just put into savings or pay bills does nothing to free up credit and get things moving again. You won't have companies to spend this stimulus money on if companies can't get continued credit from banks. That's the root of this problem. All the credit tied up in bad mortages takes away from credit they can issue to every day people and for the businesses that count on this for materials, payroll, freight, etc. How do you think companies operate?

The problem with this whole situation is that half the population doesn't even understand what the problem is, and how it's going to affect them(not directed at you neilownz, just in general). The government hasn't done a great job at really explaining what is going on and what this bailout(whether it's a good idea or not) is intended to do.

bigboy3l

Well I think there is more bad **** that has to happen before things get better.
So far I am not affected by any of it. Hopefully it stays that way.
If it gets too bad in the city I am moving to the cabin in the woods. Its paid for, enough water, game, and fish arround.

Sint3k how did you make out with the feds that were after you?

Lady_Bird

iTrader: (1)

+1
i find it amusing how couple of months ago bush said oh here everyone - heres $300 for you! go shopping. help boost the economy up!
and then takes $4300 (i think is what its up to now) from us. amusing.

Lady_Bird

iTrader: (1)

That sounds like the life. Where i hope to be in 2 years after bullshit college. just some remote place with land and fishing where the no one including the govt cant bother too much

ttranssam

iTrader: (10)

hahahah...sooooo ture. im having no problem lately, in fact a lil better. too many people spend mor than they make its funny...as for 401k's how many times have they fell off the edge???

Sint3k

They gave me 3 years in prison. :X i start in a few months i'll be in a satalite camp wont be to bad. after good time and half way house its 2 years roughly

bigboy3l

Good luck dude.
Felony or misdemeanor conviction?

shtnfrds

iTrader: (1)

I'm sick of paying into Social security and already KNOWING i won't ever see a dime of it. It's f'ing b.s. I'd rather put money into a savings acct that i KNOW i'll have for when i need it.

neilownz

Banks shouldnt have given everyone credit especially people that cant or dont want to pay it back. It was their fault why should we help them out by paying more taxes?

Scarhead

iTrader: (1)

Jesus...what the hell did you do? Sorry I'm new here and didn't see anything in search.

20SS07

Because if we don't it affects all of us. Not just those people that can't pay. I agree it sucks that people who don't live beyond their means and pay their bills on time have to foot the bill. But it will cost us more if nothing is done.

And yea, the banks were definately too lenient, however at the time it didn't seem like a bad idea. Not saying it was right, but the market was good, they wanted more people to be able to be home owners, and banks really couldn't afford NOT to because all the banks were doing it. One bank turns someone down they will just go to a competitor. The banks like any other business wanna make money too, they were just being responsible(at the time) to their shareholders. We learned the hard way that it wasn't a wise idea. But it's easy to look back now and say it was a bad idea. At the time, everyone was making money.