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By Chris Cermak Oct 4, 2008, 3:24 GMT
ANALYSIS: Bail-out marks first step in long road back for US economy
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Older Talkback
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Like an alcoholic, the road to recovery can not include another run to the liquor store.
These debt-aholics can not recover by getting more debt. It simply does not make sense. They are mentally ill compulsive gambling addicts that play with other people's money and will do anything to get more money to play with.
Someone needs to get the keys to the treasury away from them. Unfortunately, the very people that are entrusted with the keys are the debt-aholics.
In the good ols US OF A people have come to believe that you can make real money and even more big time money from and for absolutely nothing!
That is simply insane, why people have come to think like that is the real problem, and the ultimate reason for all this mess!
It is a problem that it is even beyond their reasoning to realise for what it is, AND WHY IT HAS COME TO BE, not to even hope to actually solve it, its all too little too late, all that remains now is...............WAR, MAKE WAR, THE LAST RESORT TO FAST AND BIG PROFIT!
THE ULTIMATE GAMBLE!
This is NOT the Lyrics for a Song.
All Jokes and name-calling aside,
the mums and dad and children
of USA are REALLY out in the cold.
Politicians, bureaucrats and senior gov. fat-cats are basically
still dining out on steak and caviar and putting the
bill onto the tax-payers, because 'they can!'
Everyone else is not so priviledged or fortunate.
I would like an expert opinion,
preferably from people who have actually argued that spending 700+Billion is a GOOD thing,as to
WHAT/WHO/HOW they intend to spend the money.
This is a reasonable question I think, when you plunge
every person of a country into further DEBT
for the next 2 generations at least,
to 'save' those who have forfeited everything due to DEBT.
So, where will the money go?
How will it affect the present situation?
What ACTUAL benefit will it have
on the Financial System of the World
other than simply giving it
a Publicity Blitz to say
'Go Ahead' make YOUR DAY!
When a certain amount of money is spent
for the 'common good'
one has to ask, how the pie is getting divided up
and WHERE all the portions go.
These are questions POLITICIANS are paid to answer
and get it right. So far
NO ONE has taken responsibility
or even vaguely suggested where
the entire country is heading. Least of all
the President.
Perhaps explaining things
to his people is not in the job description.
Otto
Otto
The purpose is to cause instability and turmoil.In order to bring about the fall of the united states, and the rise of the new world order. Fulfilling over a century of historical mannipulation and religious zealotry ending in 2013
Understanding the roots and mechanisms of the financial meltdown is a necessary step ob the way out of this quagmire .i noticed that neither media nor government does much to uneil those causes.In exchange for your 35.000 dollars each of you owing in debts you are entitled to ....nothing at all.
So allow me to clarify the mechanisms of this crisis once more .
Investment banks ,always creative when it comes to finding new opportunities of generating profits boght mortgages from the banks ,the most rotten ones first ,meaning those of which they knew the loaners wouldn't be able to pay back the banks ...strange procedure ,not at all logical ,some of you might argue ,who wants to own the rights to a mortgage that the loaner can not pay back ?
In fact everybody...as long as the real estate is raising in valu .The most rotten mortgage contracts will under those conditions be the most valuabel as in case of a foreclosure the owner of the mortgage contract makes a lot of profit .Tis mechanism of course only works as long as the price of real estate rises,once it collapses those stuck with the contracts are doing a bad deal and start losing money,the contracts are now virtually worthless to the owners...the investment banks.
But in the past years exactly those rotten contracts,drawn up under such bad conditions that the foreclosure was integrated into as many of these contracts as pôssible ,these contracts were the most profitable .And so the mortgage banks started lending money to those of whom they knew were unable to pay back:te so called ninja contacts,meaning no income,no job,no assets.Te bankers even boasted amongst each others about how they lured yet another stupid client into signing a contract for a mortgage,themselves kbowing perfectly well that the buyer might be unable to pay back the loan.
All this is very logical,and as in every crime it answers the question:who profits.
Sores of homeowners have been lured by the banks into signing contracts that were against the laws of any civilized country except the USA .
Contracts,drawn up by banks with false information concerning the assets or income of the loaner are plenty to be found on the US market.
Greed and the blind belief of the US government that markets are capable of regulating themselves have caused this mess.I suppose most of you think that there is a way of reconciliation between greed and deregulation.Well then the past years have proved different .Allowing the bankers to do whatever they like is the cause to this crisis.What I find particularly revolting is the explanation given by some conservative republicans that the blame should be laid on the victim...the poor guy that was lured into signing a mortgage of which the banks knew that ,the more chances there were that the loaner couldn't pay back,the more it was worth to them.
blaming the victim in order to hide the truth is revolting.It is the same as blaming the victim of a rape ,because she is pretty,only worse.
Yet it happens,just know that those who do so are trying to exonerate the real culprits of this all,the bankers.
Thanks Tonny(or Tommy) for a very reasonable appraisal
of WHY the crisis happened.
I think we all have come to realize that GREED on behalf of the banks and 'clever Investors' now mean that thousands are now homeless and the entire population
has to cough up $700+ Billion....shall we call these money-hungry
unethical lenders, relatives of the Merchant of Venice?
Anyway, my question was to do with how the $700 Billion PIE in the sky
is going to be divided up and where is the debate and logic as to
what the design of that strategy might be.
Any Treasury Fat Cats like to chip in?
Otto
Where has the resident genius SP4 gone????????
GOD BLESS CW BUSH
LOL
has no bounds.
ENJOY
Sorry guys,
some of these replies are
getting a bit flippant as well as rhetorical.
I was hoping for a genuine political figure/leader/expert
who might work just a bit overtime and
broadcast a bit of illumination
on what the rulers of this economy or indeed World,
intends to do by dissolving $700 Billion into a
concoction that mostly seemed already destined for sewers.
However, I guess, in the present situation
such people, even if they knew, might already have fled the scene.
Otto
Your use of the word Rhetorical is not appropriate. Rhetoric is the art of speaking or writing effectively. The root of the word comes from the Proto-Indo-European language. It is RT, pronounced rhet, and means first. You see this ancient root in many English words: Art, Arithmetic, Virtue, Regent, Aristocrat, Worth, Right, Ritual and many others. In Hebrew, there is a similar word. It is arhetton. If I recall correctly it means 'the One,' and was considered so sacred that it couldn't be spoken. Therein lies the base of hte 'god' myths.
So, Mr, Uberswengen, please choose another word. Silly fits quite nicely. But there is nothing wrong with silliness. People take themselves and the world far too seriously. Laughter, especially towards ones self, is very much needed today.
Its good that we know where all this is coming from, but what everybody seems to be shying away from is where its taking us.
When are they going to start telling us what how much food we need to start stocking with our fast depreciating means?
Who is going to tell me how far and how long this is going even with the so called bailout? is this bailout-able or is this the downturn from the peak of all that we know and take for granted.
'Your use of the word Rhetorical is not appropriate'
Yeah, it is a common mistake in using the word Rhetorical.
What he meant was: Redundant or Repetitive.
Yes, the comments are Redundant and Repetitive. That is because world leaders are Redundant and Repetitive. They continually say there is a liquidity problem when the fact is there is a bankruptcy and fraud problem.
World leaders simply do not want to admit that their basic financial markets are full of gamblers and con artists. Because they will not admit it, the problem will occur over and over again and leaders will keep on making the same excuses over and over again. Hence the repetitive nature of the issues.
Two more words can be used to describe the financial markets: greed and psychopathic. Why psychopathic, you might ask. Because they don't give a damn what consequences their actions have, as long as they get their filthy lucre. Take a look at Michael Robert Milken, the king of the junk bond traders. He was charged with 98 counts of racketeering and securities fraud in 1989 and did less than two years in prison. He is now happily spending his billions of dollars.
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