Though it is deemed inappropriate to be pessimistic in any form, it is also foolish not to be thinking about a "Plan B" when it comes to the severity of the situation. This is no longer an issue isolated to the fat cats of Wall Street but an issue that will have some serious impact on many of the things we take for granted. I sincerely hope that the "package" will provide some remedy but am also well schooled enough to realize that extending credit to cover other credit has consequences of its own. It may buy some time for us to reevaluate the situation but its gonna take one heck of a paradigm shift to reestablish some normalcy.
The comment regarding the Chinese may appear as flippant but I feel it to be quite astute.
The comment regarding the Chinese may appear as flippant but I feel it to be quite astute.
While the Chinese hold some $1.5 Trillion in US Dollars. The Chinese people, typically, are very risk averse when it comes to their personal finance. On average, they have little personal debt and tend to save a much greater portion of their take-home pay.
I work for a publicly-traded company, and our funds were pretty much exhausted on my last paycheck. We're scrambling for some financing, but it's not looking too good.
So I'm considering some new lines of work:
- illegal still operator
- road-kill gourmet
- run with the dingos
- hitch-hiker
- male prostitute
- manage a ring of orphan pick-pockets
The comment regarding the Chinese may appear as flippant but I feel it to be quite astute.
While the Chinese hold some $1.5 Trillion in US Dollars. The Chinese people, typically, are very risk averse when it comes to their personal finance. On average, they have little personal debt and tend to save a much greater portion of their take-home pay.
I am painfully aware of their influence the have on the US treasury and though the Chinese are considered risk averse on their personal finance, I believe the momentum of their expansive appetite has a voice of its own and possibly an agenda which may come to light soon enough.
Brush up on my Chinese and go teach the Chinese all I know about engineering military hardware.
Hmmmmm, the only problem with that is the large quantity of Chinese manufactured goods Americans will not be able to afford.
The U.S. is simply not a big customer of Chinese military hardware.
But, they still need a big supply of money to produce their military hardware. Although, isn't it interesting how governments have always seemed the find the abillity to buy weapons, not matter how bad their economy.
Brush up on my Chinese and go teach the Chinese all I know about engineering military hardware.
Hmmmmm, the only problem with that is the large quantity of Chinese manufactured goods Americans will not be able to afford.
The U.S. is simply not a big customer of Chinese military hardware.
But, they still need a big supply of money to produce their military hardware. Although, isn't it interesting how governments have always seemed the find the abillity to buy weapons, not matter how bad their economy.
Exactly, but the Chinese economy will feel much less the effect of the coming financial poopstorm and China will, thus be a more desirable market to sell one's services. Especially if those services are highly valued by their government.
Brush up on my Chinese and go teach the Chinese all I know about engineering military hardware.
Hmmmmm, the only problem with that is the large quantity of Chinese manufactured goods Americans will not be able to afford.
The U.S. is simply not a big customer of Chinese military hardware.
But, they still need a big supply of money to produce their military hardware. Although, isn't it interesting how governments have always seemed the find the abillity to buy weapons, not matter how bad their economy.
Exactly, but the Chinese economy will feel much less the effect of the coming financial poopstorm and China will, thus be a more desirable market to sell one's services. Especially if those services are highly valued by their government.
Does your employer (or maybe the FBI) know your plans? And remember, my silence can be purchased.
Brush up on my Chinese and go teach the Chinese all I know about engineering military hardware.
Hmmmmm, the only problem with that is the large quantity of Chinese manufactured goods Americans will not be able to afford.
The U.S. is simply not a big customer of Chinese military hardware.
But, they still need a big supply of money to produce their military hardware. Although, isn't it interesting how governments have always seemed the find the abillity to buy weapons, not matter how bad their economy.
Exactly, but the Chinese economy will feel much less the effect of the coming financial poopstorm and China will, thus be a more desirable market to sell one's services. Especially if those services are highly valued by their government.
Does your employer (or maybe the FBI) know your plans? And remember, my silence can be purchased.
There's not a lot they could do, they can't really restrict exporting what's in my head.
Brush up on my Chinese and go teach the Chinese all I know about engineering military hardware.
Hmmmmm, the only problem with that is the large quantity of Chinese manufactured goods Americans will not be able to afford.
The U.S. is simply not a big customer of Chinese military hardware.
But, they still need a big supply of money to produce their military hardware. Although, isn't it interesting how governments have always seemed the find the abillity to buy weapons, not matter how bad their economy.
Exactly, but the Chinese economy will feel much less the effect of the coming financial poopstorm and China will, thus be a more desirable market to sell one's services. Especially if those services are highly valued by their government.
Does your employer (or maybe the FBI) know your plans? And remember, my silence can be purchased.
There's not a lot they could do, they can't really restrict exporting what's in my head.
Famous last words my friend, famous last words. :)
Seems to me that the US government would have done darn near anything to avoid this sort of blowup just weeks before a major election. I think the current rescue plan is just enough to calm nerves and try and stabilize things on a superficial level long enough for incumbents to get re-elected. In the longer term, it seems the only way for the government to finance this is:
1) Raise taxes, putting a further strain on the economy;
2) Issue more debt, but it is unclear to me who will buy this debt, even China seems to have it's fill of US monetary obligations;
3) Print new money nonstop, then you can look forward to inflation, perhaps even a small chance of hyperinflation.
I personally think taking a position in precious metals may be a smart move, even with gold at nearly $900/oz.
Stay tuned, 2009 is going to be a wild ride...
I got an email with a wonderful solution.
I guess it's gonna cost $85 Billion to buy AIG. So the idea is to take that $85 billion and give it to every american 21 and older. If there are 330 million, about 200 million will be over 21.
That's a lot of money, so I suppose we can all pay tax on it, say 30%. That leaves $297,500 for every person age 21 and over in the US. $595,000 for a married couple.
With $595,000 my wife and I would pay off the mortgage and probably buy a house (or two) for investment purposes. So long housing crisis, so long mortgage crisis. That'd leave us some $250,000 still to deal with.
Well, good buy credit card debt, hello new car, new appliances, and some clothes, and yeah, that BIG screen TV I've always wanted. Boy, is the economy humming now!
And the remaining $150k would go into savings for college or retirement or some such. That fixes bank's liquidity, wall street would be pumping, etc.
As for AIG? Sell teh friggin thing at a yardsale. If you need insurance buy it elsewhere. If you need your claim paid, well, you just got $300 grand buddy, deal with it. The AIG employees would also be getting 297,500 each so they're doing fine.
And because we all pay the tax on this it only costs the Govt 59billion, not 80. And not $700 billion either.
So you can do the math if you don't believe me (i didn't believe the email either, but the math works).
I got an email with a wonderful solution.
I guess it's gonna cost $85 Billion to buy AIG. So the idea is to take that $85 billion and give it to every american 21 and older. If there are 330 million, about 200 million will be over 21.
That's a lot of money, so I suppose we can all pay tax on it, say 30%. That leaves $297,500 for every person age 21 and over in the US. $595,000 for a married couple.
With $595,000 my wife and I would pay off the mortgage and probably buy a house (or two) for investment purposes. So long housing crisis, so long mortgage crisis. That'd leave us some $250,000 still to deal with.
Well, good buy credit card debt, hello new car, new appliances, and some clothes, and yeah, that BIG screen TV I've always wanted. Boy, is the economy humming now!
And the remaining $150k would go into savings for college or retirement or some such. That fixes bank's liquidity, wall street would be pumping, etc.
As for AIG? Sell teh friggin thing at a yardsale. If you need insurance buy it elsewhere. If you need your claim paid, well, you just got $300 grand buddy, deal with it. The AIG employees would also be getting 297,500 each so they're doing fine.
And because we all pay the tax on this it only costs the Govt 59billion, not 80. And not $700 billion either.
So you can do the math if you don't believe me (i didn't believe the email either, but the math works).
I dont mean to bust your bubble, but if you divide 86 Billion by 200 million you get roughly 425 , yes. only 425 each. I think you might have added too many zeroes in that billion number. A bilion is only a thousand times a million. Not a million times a million.
I got an email with a wonderful solution.
I guess it's gonna cost $85 Billion to buy AIG. So the idea is to take that $85 billion and give it to every american 21 and older. If there are 330 million, about 200 million will be over 21.
That's a lot of money, so I suppose we can all pay tax on it, say 30%. That leaves $297,500 for every person age 21 and over in the US. $595,000 for a married couple.
With $595,000 my wife and I would pay off the mortgage and probably buy a house (or two) for investment purposes. So long housing crisis, so long mortgage crisis. That'd leave us some $250,000 still to deal with.
Well, good buy credit card debt, hello new car, new appliances, and some clothes, and yeah, that BIG screen TV I've always wanted. Boy, is the economy humming now!
And the remaining $150k would go into savings for college or retirement or some such. That fixes bank's liquidity, wall street would be pumping, etc.
As for AIG? Sell teh friggin thing at a yardsale. If you need insurance buy it elsewhere. If you need your claim paid, well, you just got $300 grand buddy, deal with it. The AIG employees would also be getting 297,500 each so they're doing fine.
And because we all pay the tax on this it only costs the Govt 59billion, not 80. And not $700 billion either.
So you can do the math if you don't believe me (i didn't believe the email either, but the math works).
Good thing you aren't taking my math class, you'd get an F.
I already did the math and it doesn't work because $85 Billion divided by 200 Million people is $425/person. Or, to check, you can multiply $425,000 by 200 Million and you get $85 Trillion, 1000 times the AIG deal.
Snopes has debunked this as well.
As I posted earlier in this thread, taking the entire proposed $700B bailout and using Census Bureau estimate for the number of adults in the U.S. works out to $3060/person.
I got an email with a wonderful solution.
I guess it's gonna cost $85 Billion to buy AIG. So the idea is to take that $85 billion and give it to every american 21 and older. If there are 330 million, about 200 million will be over 21.
That's a lot of money, so I suppose we can all pay tax on it, say 30%. That leaves $297,500 for every person age 21 and over in the US. $595,000 for a married couple.
With $595,000 my wife and I would pay off the mortgage and probably buy a house (or two) for investment purposes. So long housing crisis, so long mortgage crisis. That'd leave us some $250,000 still to deal with.
Well, good buy credit card debt, hello new car, new appliances, and some clothes, and yeah, that BIG screen TV I've always wanted. Boy, is the economy humming now!
And the remaining $150k would go into savings for college or retirement or some such. That fixes bank's liquidity, wall street would be pumping, etc.
As for AIG? Sell teh friggin thing at a yardsale. If you need insurance buy it elsewhere. If you need your claim paid, well, you just got $300 grand buddy, deal with it. The AIG employees would also be getting 297,500 each so they're doing fine.
And because we all pay the tax on this it only costs the Govt 59billion, not 80. And not $700 billion either.
So you can do the math if you don't believe me (i didn't believe the email either, but the math works).
Might want to check your math again on that equation- 85 billion divided by 200 million = 425.
Yeah, also lots of poisonous snakes and spiders - the big hairy kinds, even the cutesy little blue-ringed octopus can kill you with one nip...have fun! I'm gonna stay here in Canada and take my chances with rabid wildlife and the local rednecks.
