14 replies to this topic

[banj0]

Wondering what everyone here thinks about it. If I neglect a choice in the poll please let me know so I can amend.

[Roadrunner]

Something has to be done-
The repurcussion of not doing anything is too great-

As much as I don't want government in my life I also want my retirement funds to be safe and my kids to be able to buy a house and car if they want to.

[talker]

President Gerald Ford said this..."A government big enough to give you everything you want is a government big enough to take from you everything you have." While I do believe that there are steps that need to be taken but feel that it must begin with personal/individual accountability. If I am drowning in debt, is that the fault of the government or my fellow citizens? Or is it the responsibility of the government or my fellow citizens to "bail" me out? I think not. Easy credit is not easy but deceiving. Sign now and pay later has now caught up with millions of Americans and the Country as a whole. What I can't believe is that companies are still offering an adjustable rate mortgage (ARM). This is the vehicle that got so many into forclouser. (I recieved an letter yesterday suggesting that I refinance to an ARM). Add to this, in so many households, credit cards at 14% to 28%+ and you have a credit/debt spiral that is inescapable.

As a nation and as individuals, we have to stand up and take personal responsibility/accountability for the fiscal situation in which we find ourselves. There will be those that will lose everything. As sad as that is, it cannot be helped or stopped. This is not a new or surprising situation and has existed for some time, just not in the volume that we see it now. The lure of the "American Dream" cannot be charged and built on pure credit. As we can see, the "Dream" has turned to a nightmare to so many. Any home must be built on a firm foundation for it to stand. Build a home on shifting sand and it will fall. I fear all this easy credit, ARMs, credit cards, etc have proven to be the shifting sand and the house is now collapsing within itself.

Do I have a bottom line to all of this...no. But I do feel that it must begin with the individual and not the government. Just my two cents worth...Bill.

[Camaro]

talker, on Oct 1 2008, 07:15 AM, said:

President Gerald Ford said this..."A government big enough to give you everything you want is a government big enough to take from you everything you have." While I do believe that there are steps that need to be taken but feel that it must begin with personal/individual accountability. If I am drowning in debt, is that the fault of the government or my fellow citizens? Or is it the responsibility of the government or my fellow citizens to "bail" me out? I think not. Easy credit is not easy but deceiving. Sign now and pay later has now caught up with millions of Americans and the Country as a whole. What I can't believe is that companies are still offering an adjustable rate mortgage (ARM). This is the vehicle that got so many into forclouser. (I recieved an letter yesterday suggesting that I refinance to an ARM). Add to this, in so many households, credit cards at 14% to 28%+ and you have a credit/debt spiral that is inescapable.

As a nation and as individuals, we have to stand up and take personal responsibility/accountability for the fiscal situation in which we find ourselves. There will be those that will lose everything. As sad as that is, it cannot be helped or stopped. This is not a new or surprising situation and has existed for some time, just not in the volume that we see it now. The lure of the "American Dream" cannot be charged and built on pure credit. As we can see, the "Dream" has turned to a nightmare to so many. Any home must be built on a firm foundation for it to stand. Build a home on shifting sand and it will fall. I fear all this easy credit, ARMs, credit cards, etc have proven to be the shifting sand and the house is now collapsing within itself.

Do I have a bottom line to all of this...no. But I do feel that it must begin with the individual and not the government. Just my two cents worth...Bill.

As Usual well said, I think the bail out is not going to help the individual, whether to keep the house or lose it, the stock market will right itself if people hold on to the stock and dont panic sell they will eventually climb back up.

[Christopholofigus]

Ahhh, good ole Father Talker to show us his wisdom. I agree too.

[m.oreilly]

borrowing $$$ from the chinese...oh, that's where palin says all our stuff is made anyways...

[m.oreilly]

[chriso_86]

Well, I think if a busniess makes bad decissions they should be allowed to fail. By bailing these companies out, no matter how important they are, companies are just going to get the idea that it's ok to make bad business decisions because if push comes to shove the govt. will step in and put a bandaid on them and save the day. By doing this bailout we are just being enablers for other companies to follow the same big risk big reward path. Sure, by letting these compaines fail there is gonna be some really hard times and people will suffer for it. But I think as a whole the country would become stronger for it. They say history has a tendancy of repeating iteself, well..... I know for a fact that by doing this we are just setting up for history to do just that.

[Christopholofigus]

m.oreilly, on Oct 4 2008, 01:04 PM, said:

borrowing $$$ from the chinese...oh, that's where palin says all our stuff is made anyways...

Know what, that is how most Americans think of the outside world.

[talker]

This post, with a little stretch, will fit the subject at hand.

Below you will find a link to a story in the Moscow Times which is an English language newspaper that was started somewhere @1995. I have been reading the online version of this paper for numerous years. This is the paper that I sent the editorial reply to that got me in trouble with Homeland Securuity. Understand this though..."In supplying this link, I am NOT trying to make a political statement." I don't really care what your opinions are concerning Mr Bush whether foreign or domestic but found the article fascinating. So, enjoy the article and the brain power that it will take to reason the similarities to conclusion...Bill.


http://www.moscowtim...9/42/371463.htm

[Christopholofigus]

talker, on Oct 5 2008, 07:54 PM, said:

This post, with a little stretch, will fit the subject at hand.

Below you will find a link to a story in the Moscow Times which is an English language newspaper that was started somewhere @1995. I have been reading the online version of this paper for numerous years. This is the paper that I sent the editorial reply to that got me in trouble with Homeland Securuity. Understand this though..."In supplying this link, I am NOT trying to make a political statement." I don't really care what your opinions are concerning Mr Bush whether foreign or domestic but found the article fascinating. So, enjoy the article and the brain power that it will take to reason the similarities to conclusion...Bill.
http://www.moscowtim...9/42/371463.htm

Wonderful article Bill. I think I might start reading this regularly. You know me and my facination with "Mother Russia" *added link to bookmark*

[hog]

Very good article, thanks. Even though it makes the whole thing look even worse...

[m.oreilly]

that was indeed very good

[stormrosson]

excellent reading Bill , very insightful and a bit scary