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Posted: 11/20/2008 6:02:03 PM EDT
DJIA 7,552.29 -444.99 -5.56%

NASDAQ 1,316.12 -70.30 -5.07%

S&P 500 752.44 -54.14 -6.71%

BIG 3 in Po-Po today.

Pelosi said she had little patience left for excuses from the carmakers on why they haven't turned their businesses around.

"Yes, we're kicking the can down the road, because that will give us the opportunity to do something positive," Reid said. "But that will only happen if they get their act together.

Just Thursday, the government reported that laid-off workers' new claims for jobless aid had reached a 16-year high and the number of Americans searching for work had soared past 10 million.


With the pics for Obama's Cabinet so far, Next year the SHTF will be gaping wound.

Not a happy 2009 ahead.
Link Posted: 11/20/2008 6:21:18 PM EDT
In the past three days, Ford stock has briefly dropped below a dollar a share. GM hasn't fared much better.


The buying opportunities are getting incredible. But, I see the market as being far too
unstable right now to do anything with it. It won't settle out until after the inauguration,
and even then it'll be several weeks after then before the dust starts to settle and we
can see the real state of affairs.


Obama is probably thinking "Man, I didn't know it was gonna be like this! Maybe I should
have just dropped out and let Hillary have this shit!"

He has one hell of a task set before him. And I truly hope that he is able to turn it
around by setting the right policies into place.

He has four years to earn my support and my vote if he chooses to run again. Nothing
would please me more than to see him do such a good job that he does in fact earn my
support. I want to see his actions and decisions. I want them to be great for America.




CJ



CJ
Link Posted: 11/20/2008 6:35:17 PM EDT
Link Posted: 11/20/2008 6:38:36 PM EDT
Originally Posted By cmjohnson:
In the past three days, Ford stock has briefly dropped below a dollar a share. GM hasn't fared much better.


The buying opportunities are getting incredible. But, I see the market as being far too
unstable right now to do anything with it. It won't settle out until after the inauguration,
and even then it'll be several weeks after then before the dust starts to settle and we
can see the real state of affairs.


Obama is probably thinking "Man, I didn't know it was gonna be like this! Maybe I should
have just dropped out and let Hillary have this shit!"

He has one hell of a task set before him. And I truly hope that he is able to turn it
around by setting the right policies into place.

He has four years to earn my support and my vote if he chooses to run again. Nothing
would please me more than to see him do such a good job that he does in fact earn my
support. I want to see his actions and decisions. I want them to be great for America.

CJ



Just a reminder to everyone that when a company goes bankrupt the shareholders lose everything.... all, 100%

The shares go to the creditors.

Just saying

Link Posted: 11/20/2008 6:39:30 PM EDT
Originally Posted By cmjohnson:


Obama is probably thinking "Man, I didn't know it was gonna be like this! Maybe I should
have just dropped out and let Hillary have this shit!"

CJ


There is no way in hell that his ego would let a thought like that surface for a nanosecond.

He truly believes that he is on top of it.

Link Posted: 11/20/2008 6:41:43 PM EDT
The best thing for Obama to do RIGHT NOW is to tell people,"Hey we cannot raise all these taxes like I promised, it would be really bad for the economy that George Bush has created."

Stocks would go back up over 13,000 within ONE WEEK.

Everyone is pulling their shit out now to avoid the RECORD capital gains tax about to be imposed for 2009.

Dont be surprised to see it go down to 3,000 (or less!) on the last tradable day of the year.
Link Posted: 11/20/2008 6:42:24 PM EDT
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.
Link Posted: 11/20/2008 6:46:05 PM EDT
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.


Seven hundred thousand million IS $700 Billion.

Link Posted: 11/20/2008 6:47:10 PM EDT
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.


lulz math
Link Posted: 11/20/2008 6:49:21 PM EDT
[Last Edit: 11/20/2008 6:51:35 PM EDT by rexydg7]
I guess i am not the only "chicken little" around here.


deny it all you want... there is a reckoning headed our way fast, a storm on the horizon building high.

Shits gonna get bad... ugly and worse.

Its fucking common sense... just look at this nation, we have become a country full of overweight, fast food eating, non producing, consumers that finance our future on plastic cards for rediculous interest.

I do not include myself in that mess. I saw this shit coming for years, i prepared accordingly.

such a fucking fine position that this countries people allowed themselves to be suckered into, wretched excess... 3 MPG vehicles with a 1200 dollar a month "payment" , several pieces of plastic with monthly payments, huge plasma TVs with monthly payments.

Payments, Payments, Payments, Payments, Payments, Payments, Payments and more payments... WITH INTEREST!

The American people have become experts at shoveling debt around to one another and not being able to PRODUCE anything of tangible value to trade for their debt.. consume, consume, consume.

Take a close look at where lack of discipline in all aspects of living has put ALL of us in this country.

Some folks are going to learn hard... if not fatal lessons here. Its about time.

Link Posted: 11/20/2008 6:51:23 PM EDT
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.


Just 3 more 000.
Link Posted: 11/20/2008 6:51:30 PM EDT
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



AND TEXAS LEGISLATORS VOTED FOR IT

I'm ashamed of my home state
Link Posted: 11/20/2008 6:53:31 PM EDT
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!
Link Posted: 11/20/2008 6:55:41 PM EDT
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.
Link Posted: 11/20/2008 6:58:36 PM EDT
Originally Posted By wasnme:
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!



You and me both... makes for a nice calm feeling don't it.
Link Posted: 11/20/2008 7:02:43 PM EDT
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.



Link Posted: 11/20/2008 7:03:36 PM EDT
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



If I were a betting man, I'd say we just got robbed. Almost down to the skivvies.
Link Posted: 11/20/2008 7:04:24 PM EDT
Originally Posted By Pacs:
DJIA 7,552.29 -444.99 -5.56%



There's a message hidden in there somewhere...
Link Posted: 11/20/2008 7:05:29 PM EDT
Meh...I don't know.

I'd say we're going down the shitter at about the rate I expected.
Link Posted: 11/20/2008 7:22:00 PM EDT
Link Posted: 11/20/2008 7:26:03 PM EDT
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?




Yeah, then they had some parties with a few hunderd thousand of it if I remember correctly.
Link Posted: 11/20/2008 7:35:13 PM EDT
Originally Posted By rexydg7:
Originally Posted By wasnme:
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!



You and me both... makes for a nice calm feeling don't it.



Yeah... untill The Man shows up wanting to know why you haven't paid your property taxes.
Link Posted: 11/20/2008 7:35:58 PM EDT
Originally Posted By fxntime:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.





Which was caused by bad government regulations that the Democrats put on us.
Link Posted: 11/20/2008 7:42:10 PM EDT
[Last Edit: 11/20/2008 7:42:57 PM EDT by rexydg7]
Originally Posted By Loki41872:
Originally Posted By rexydg7:
Originally Posted By wasnme:
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!



You and me both... makes for a nice calm feeling don't it.





Yeah... untill The Man shows up wanting to know why you haven't paid your property taxes.


Which is the only payment I have... oops I forgot, no I don't I have an exemption for that.
Link Posted: 11/20/2008 7:42:38 PM EDT
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.



You are forgetting the 150 billion in earmarks included in this bill. This brings the total handout to 850 billion (+ intrest)
Link Posted: 11/20/2008 7:45:14 PM EDT
Originally Posted By VARifleman:
Originally Posted By fxntime:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.





Which was caused by bad government regulations that the Democrats put on us.


SOME of it was caused by that, banks have plenty of culpability themselves also. I have not dealt with a bank in years with my personal finances, I get 100X the service with far lower costs at the Credit Union I go to.

Banks are nothing more then bloated overpriced financial institutions anymore that are on a par with any failing automaker you can name. Worst thing that ever happened was the buying up of smaller banks by huge conglomerations and the drop in service expectations and oversight.

Now that they are so "big", they CAN'T fail or so it is said wheras if a few smaller one's went under, they could be absorbed quite easily.


Link Posted: 11/20/2008 7:47:55 PM EDT
Originally Posted By rexydg7:
Originally Posted By Loki41872:
Originally Posted By rexydg7:
Originally Posted By wasnme:
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!



You and me both... makes for a nice calm feeling don't it.





Yeah... untill The Man shows up wanting to know why you haven't paid your property taxes.


Which is the only payment I have... oops I forgot, no I don't I have an exemption for that.




What do you think the homebrew is for ?
Link Posted: 11/20/2008 7:51:14 PM EDT
Originally Posted By rexydg7:
I guess i am not the only "chicken little" around here.


deny it all you want... there is a reckoning headed our way fast, a storm on the horizon building high.

Shits gonna get bad... ugly and worse.

Its fucking common sense... just look at this nation, we have become a country full of overweight, fast food eating, non producing, consumers that finance our future on plastic cards for rediculous interest.

I do not include myself in that mess. I saw this shit coming for years, i prepared accordingly.

such a fucking fine position that this countries people allowed themselves to be suckered into, wretched excess... 3 MPG vehicles with a 1200 dollar a month "payment" , several pieces of plastic with monthly payments, huge plasma TVs with monthly payments.

Payments, Payments, Payments, Payments, Payments, Payments, Payments and more payments... WITH INTEREST!

The American people have become experts at shoveling debt around to one another and not being able to PRODUCE anything of tangible value to trade for their debt.. consume, consume, consume.

Take a close look at where lack of discipline in all aspects of living has put ALL of us in this country.

Some folks are going to learn hard... if not fatal lessons here. Its about time.



You failed to mention the "interest only mortgage."
Link Posted: 11/20/2008 7:53:28 PM EDT
Originally Posted By fxntime:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.



That ranting does not change the truth... He is right on the banks the bank bailout as executed sucks but if a large number of banks go tits up taking saving, pensions, etc., and lending stops and huge hunks of everything fail from small business up including GM, Ford, etc…. you get a depression now.

And the government is most responsible for the financial shell games, including giving credit of all sorts of totally unqualified people.
Link Posted: 11/20/2008 7:53:41 PM EDT
[Last Edit: 11/20/2008 7:54:02 PM EDT by ORIGINAL-Waterdog]




If they stop lending, everything goes bye-bye... Unrecoverably....



Baloney!





Link Posted: 11/20/2008 7:56:44 PM EDT
[Last Edit: 11/20/2008 7:58:32 PM EDT by 2theLeft]
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


Gee, I think it wold have one HELL of an impact on me Dave!! How many people do you think are employed at big 3 dealerships??
Link Posted: 11/20/2008 7:58:13 PM EDT
[Last Edit: 11/20/2008 8:00:25 PM EDT by Pacs]
Originally Posted By Max_Mike:
Originally Posted By fxntime:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.



That ranting does not change the truth... He is right on the banks the bank bailout as executed sucks but if a large number of banks go tits up taking saving, pensions, etc., and lending stops and huge hunks of everything fail from small business up including GM, Ford, etc…. you get a depression now.

And the government is most responsible for the financial shell games, including giving credit of all sorts of totally unqualified people.


Mine stops and some people are getting shot.

The above is a hypothetical statement.
Link Posted: 11/20/2008 8:03:29 PM EDT
It's going to get a lot worse. I've been trying to say that for over a year, and I've been mocked at every turn. Don't believe the smartass fools here.

The American people in in for a ROUGH ride.

Get ready, it's going to get poor around here.
Link Posted: 11/20/2008 8:05:01 PM EDT
Originally Posted By 2theLeft:

Gee, I think it wold have one HELL of an impact on me Dave!! How many people do you think are employed at big 3 dealerships??


Well at least the salesmen ain't people....

Link Posted: 11/20/2008 8:05:27 PM EDT
Originally Posted By 2theLeft:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


Gee, I think it wold have one HELL of an impact on me Dave!! How many people do you think are employed at big 3 dealerships??



This, and do you really think all the parts that go into an automobile is made in Detroit? Come on you can't be that dense....lol
Link Posted: 11/20/2008 8:06:56 PM EDT
Originally Posted By TaterSalad:
It's going to get a lot worse. I've been trying to say that for over a year, and I've been mocked at every turn. Don't believe the smartass fools here.

The American people in in for a ROUGH ride.

Get ready, it's going to get poor around here.


Do you live in East Texas?

TaterSalad country.
Link Posted: 11/20/2008 8:07:11 PM EDT
Originally Posted By TaterSalad:
It's going to get a lot worse. I've been trying to say that for over a year, and I've been mocked at every turn. Don't believe the smartass fools here.

The American people in in for a ROUGH ride.

Get ready, it's going to get poor around here.



There's the problem.....It's BEEN POOR around here for a long freeking time . Credit cards and debt don't make you rich . People are about to be reminded the hard way that they have NO REAL WEALTH . And when that house of cards comes tumbling down [>:/]
Link Posted: 11/20/2008 8:07:50 PM EDT
Originally Posted By SIMJEDI:
Originally Posted By 2theLeft:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


Gee, I think it wold have one HELL of an impact on me Dave!! How many people do you think are employed at big 3 dealerships??



This, and do you really think all the parts that go into an automobile is made in Detroit? Come on you can't be that dense....lol



Not a well thought out statement.. There is a statistic somehwere, that 1 in 7 careers (IIRC) is some facet of the car business..
Link Posted: 11/20/2008 8:09:17 PM EDT
Originally Posted By SIMJEDI:
This, and do you really think all the parts that go into an automobile is made in Detroit? Come on you can't be that dense....lol


Yea it will be real hell on Mexico, China, Vietnam, Korea...
Link Posted: 11/20/2008 8:11:31 PM EDT
Originally Posted By cmjohnson:
In the past three days, Ford stock has briefly dropped below a dollar a share. GM hasn't fared much better.


A story in the WSJ today referred to GM as a "small cap stock".

I think book value for the S&P is around 500-600.
Link Posted: 11/20/2008 8:12:40 PM EDT
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.


700,000 million is 700 billion. The way he phrased it just highlights how big that is. A million dollars? how about 700,000 piles of a million dollars?
Link Posted: 11/20/2008 8:14:24 PM EDT
Originally Posted By NoStockBikes:
Originally Posted By TheCanuck:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



except it's billions and not millions, wich is a significant difference.


700,000 million is 700 billion. The way he phrased it just highlights how big that is. A million dollars? how about 700,000 piles of a million dollars?
A nice way of putting some perspective on the $700bn figure.

Link Posted: 11/20/2008 8:15:57 PM EDT
Originally Posted By wasnme:
Originally Posted By rexydg7:
Originally Posted By Loki41872:
Originally Posted By rexydg7:
Originally Posted By wasnme:
Boy I'm glad I grew up learning how to farm,hunt,fish,trap and build ! Life is gonna suck for a whole bunch of people right here quick. Now all I need is to finish learning to brew my own beer and I'm squared away . Enjoy your meltdown folks !!



You and me both... makes for a nice calm feeling don't it.





Yeah... untill The Man shows up wanting to know why you haven't paid your property taxes.


Which is the only payment I have... oops I forgot, no I don't I have an exemption for that.




What do you think the homebrew is for ?



Where in AZ are you?
Link Posted: 11/20/2008 8:17:10 PM EDT
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


I call Bullshit on this. It will have a major impact on various outside suppliers all over the WORLD. I happen to work for one of those. I know for a fact that several projects that will get put on hold or completely canceled. That is millions of dollars. What are we going to do with those employees? They will be laid off!!!! If it goes very deep to the point that they will not be building cars or building less, then our orders will drop. Orders drop we lay off simple fact that only so many can sweep the floors. I am not talking about something that will take weeks or months to happen either. With JIT production we see the effects on a daily basis. Hey Dave tell you what if I get laid off you going to share your wealth with me. I hope not cause if your as wealthy as your knowledge you don't even have a pot to piss in.
Stop wearing blinders and wake up cause the coffee is burning.
Link Posted: 11/20/2008 8:19:11 PM EDT
Originally Posted By mcgredo:
Originally Posted By cmjohnson:
In the past three days, Ford stock has briefly dropped below a dollar a share. GM hasn't fared much better.


A story in the WSJ today referred to GM as a "small cap stock".

I think book value for the S&P is around 500-600.


You could probably buy all the stock of both for less that the price of the bailout… and then you really have something
Link Posted: 11/20/2008 8:20:50 PM EDT
[Last Edit: 11/20/2008 8:21:42 PM EDT by ultramagbrion]
Originally Posted By Pacs:
Originally Posted By TaterSalad:
It's going to get a lot worse. I've been trying to say that for over a year, and I've been mocked at every turn. Don't believe the smartass fools here.

The American people in in for a ROUGH ride.

Get ready, it's going to get poor around here.


Do you live in East Texas?

TaterSalad country.




I dont think its gonna matter WHERE you live. Its gonna get tight for everyone soon (if it hasnt already)

Team members , take a look at our own jobs section here ........lots of recent posts from folks laid off (GD has had em too) the unemployment rate is rising pretty fast nationwide.

Already there's rumblings in my line of work about power companies stalling on turbine rebuilds next year due to the rising intrest on a line of credit for the work (one company , Alliance Energy said an extra 9 mil in intrest alone for one job)

I have to admit.........Im a little surprised ......almost scared
Link Posted: 11/20/2008 8:22:55 PM EDT
Originally Posted By SandHillsHillbilly:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


I call Bullshit on this. It will have a major impact on various outside suppliers all over the WORLD. I happen to work for one of those. I know for a fact that several projects that will get put on hold or completely canceled. That is millions of dollars. What are we going to do with those employees? They will be laid off!!!! If it goes very deep to the point that they will not be building cars or building less, then our orders will drop. Orders drop we lay off simple fact that only so many can sweep the floors. I am not talking about something that will take weeks or months to happen either. With JIT production we see the effects on a daily basis. Hey Dave tell you what if I get laid off you going to share your wealth with me. I hope not cause if your as wealthy as your knowledge you don't even have a pot to piss in.
Stop wearing blinders and wake up cause the coffee is burning.




You want him to share his wealth with you… you going to send him a check if he agrees to save your freaking job?
Link Posted: 11/20/2008 8:24:24 PM EDT
Originally Posted By Max_Mike:
Originally Posted By SandHillsHillbilly:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


I call Bullshit on this. It will have a major impact on various outside suppliers all over the WORLD. I happen to work for one of those. I know for a fact that several projects that will get put on hold or completely canceled. That is millions of dollars. What are we going to do with those employees? They will be laid off!!!! If it goes very deep to the point that they will not be building cars or building less, then our orders will drop. Orders drop we lay off simple fact that only so many can sweep the floors. I am not talking about something that will take weeks or months to happen either. With JIT production we see the effects on a daily basis. Hey Dave tell you what if I get laid off you going to share your wealth with me. I hope not cause if your as wealthy as your knowledge you don't even have a pot to piss in.
Stop wearing blinders and wake up cause the coffee is burning.




You want him to share his wealth with you… you going to send him a check if he agrees to save your freaking job?


I send him a check everytime I get paid.
Link Posted: 11/20/2008 8:28:09 PM EDT
Originally Posted By Max_Mike:
Originally Posted By fxntime:
Originally Posted By Dave_A:
Originally Posted By LaRue_Tactical:
I don't recall them senators asking a damn thing of the mortgage bankers, what they arrived in, what they were going to do with the money ...

Nope, it was "How about $350,000 million dollars ... will that do ? ... aw hell, let's call it an even $700,000 million bucks.

Jeez, did I describe that right ?



Unlike the UAW, the bankers actually are a critical part of the economy...

If they stop lending, everything goes bye-bye... Unrecoverably....

The Big 3 going CH11 will have ZERO impact on the average American, outside of Michigan.


You and your "OMG, the banks CAN'T fail" crap. What, there are no NON American owned banks? No Credit Unions? Hell, how about Vinnie for that matter?

A huge portion of the financial mess was CAUSED by US banks and all their bullcrap gray area shady dealings and financial shell games to include giving credit of all sorts to totally unqualified people.



That ranting does not change the truth... He is right on the banks the bank bailout as executed sucks but if a large number of banks go tits up taking saving, pensions, etc., and lending stops and huge hunks of everything fail from small business up including GM, Ford, etc…. you get a depression now.

And the government is most responsible for the financial shell games, including giving credit of all sorts of totally unqualified people.


Sorry, the banks are just as culpable as the US Govt is. They also chose to play the game and be irresponsible with their loans, be they mortgage, auto, revolving, or CC type. They also pawned off tons of their crap loans into secondary markets causing more problems.

I got a HUGE laugh when I saw Citi Banks CEO telling Congress not to make the auto loans [I don't agree with ANY tax money being spent on any private corparation to include banking], that POS CEO wanted all the tits to suck on himself at the Govt pork belly. I don't have one doubt that these banking CEO's have been hiding all sorts of financial crap for years until TSHTF and they didn't have a choice, however, they made sure they got paid for doing an exeptional job all the way thru.

I haven't changed my tune in several years, I've said all along that we as a Country were going to be screwed but hard financially and it's here. It's time to face the fact that we have a whole crapload of crooks running our institutions who have skimmed off billions while failing to perform their fiduciary responsibility's to both the market and the institution to line their own pockets with money that was never really earned. Anyone who thinks this mess just started is nuts, it's been bubbling under the surface for the past few years.

I'll be financially fine, I live cheap and I have NO debt other then a very small mortgage. Yeah, my crap isn't "new" but it IS mine and not some CC company or banks til paid off.

Link Posted: 11/20/2008 8:28:33 PM EDT
[Last Edit: 11/20/2008 8:29:19 PM EDT by Max_Mike]
Originally Posted By SandHillsHillbilly:

I send him a check everytime I get paid.


You need to send the rest of everyone a check if you want a bailout.

Auto industry workers got some freaking hutzpa... run an industry in the ground and then blame everyone but themselves and bitch at the people they want a handout from.


Link Posted: 11/20/2008 8:35:07 PM EDT
Interesting Article

Debt Man Walking

For decades, the United States has relied on a tortuous financial arrangement that knits together its economy with those of China and Japan. This informal system has allowed Asian countries to run huge export surpluses with the United States, while allowing the United States to run huge budget deficits without having to raise interest rates or taxes, and to run huge trade deficits without abruptly depreciating its currency. I couldn't find a single instance of Obama discussing this issue, but it has been an obsession of bankers, international economists, and high officials like Federal Reserve Chairman Ben Bernanke. They think this informal system contributed to today's financial crisis. Worse, they fear that its breakdown could turn the looming downturn into something resembling the global depression of the 1930s.

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