No Stimulus Package. No Bailouts.

[Dayton3]

Most economists have predicted that the U.S. economy will bottom out in 2009 and begin a slow recovery in 2010. And things will certainly be getting better in 2011.

So why bother with all this economic stimulus and bailout stuff.

the economy is going to get better eventually no matter what is done.

If they want to relieve human misery, why not just extend unemployment benefits by six months or so. That would be a lot cheaper than any of the bailout proposals.

Even better, why not allow unemployed people to "cash in" several months of their unemployment benefits all at once if they need to move a long distance to where the jobs are?

One big problem is that people often lose a job but are tied to a particular area because they cannot afford to relocate.

 

[Squiggy]

 

[Maestro]

Unfortunately, Dayton, with the timeline given, your solutions will not help people in the short term. Of course the economy will rebound in the long term, but people are suffering now. Extending their unemployment bennies six months isn't a solution in an economy that won't really be back on its feet for 2-3 years.

 

[Amaris]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I would gladly do any of them.
Or all of them.

J.

 

[Mr. Laser Beam]

^ The one in the orange? I'd hit that. The rest of them? ew.

 

[Gertch]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I would gladly do any of them.
Or all of them.

J.

NOW I get the holy man title. *headsmack*

Okay, enough attention to Squiggyfm's spam...

I have to agree with you hear Dayton3. Forget the bailouts and stimulus. Go ahead with the socialist unemployment bennies for a longer period.

But boy is this a great time to buy a house - if you can get a mortgage. But they are finally affordable again.

And lets not forget to thank Barney Frank for this whole friggin mess.

 

[LaxScrutiny]

^ The one in the orange? I'd hit that. The rest of them? ew.

Actually, if you've seen a recent photo of Melanie, she's now hotter than rest of them at their best put together.

 

[JonathonWally]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I can't tell if Posh Spice is either a robot, or has no soul. Those eyes, it's like there's nothing there.

 

[Amaris]

NOW I get the holy man title. *headsmack*

Well, the title's tongue in cheek. I don't consider myself a holy man whatsoever, I'm just a regular human being. I just like the sarcasm in the title. PLUS, it's the first one I've kept for more than a month.

Okay, enough attention to Squiggyfm's spam...

That's not possible.

I have to agree with you hear Dayton3. Forget the bailouts and stimulus. Go ahead with the socialist unemployment bennies for a longer period.

But boy is this a great time to buy a house - if you can get a mortgage. But they are finally affordable again.

And lets not forget to thank Barney Frank for this whole friggin mess.

I agree with the proviso that the previous bailouts were necessary. Anything after that, forget about it. We can't pay everyone off, and we can't shoulder all of the burden. The people can't support all of that weight. What, pay to keep them running and then pay them for their products and services? Will I be allowed to get two paychecks a week for one job? If not, then this is ridiculous.

J.

 

[Mutai Sho-Rin]

Blame Barney Frank. Is there no end to right wing bullshit?

 

[JNG]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I can't tell if Posh Spice is either a robot, or has no soul. Those eyes, it's like there's nothing there.

You know, it's this thing she does for photos. I got up close to her and she's really kind of cute. She has an odd nose and giggles behind her hand. A treat for leg men. They all looked pretty good up close, really; Mel B's body is friggin fantastic.

Anyway, something about the economy...hmm...I suggest investing in real estate.

 

[Red Ranger]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I would gladly do any of them.
Or all of them.

J.

NOW I get the holy man title. *headsmack*

Okay, enough attention to Squiggyfm's spam...

I have to agree with you hear Dayton3. Forget the bailouts and stimulus. Go ahead with the socialist unemployment bennies for a longer period.

But boy is this a great time to buy a house - if you can get a mortgage. But they are finally affordable again.

And lets not forget to thank Barney Frank for this whole friggin mess.

Oh, what a, uh, surprise that Gertch is parroting the knee-jerk conservative script. George W. Bush and Chris Cox's SEC -- and the unfettered greed behind insurance swaps -- had far more to do with this mess than Frank ever did. But I'm not worried -- history will vindicate my position and eradicate yours.

BTW, if that pic above isn't a stimulus package, I don't know what is!

Red Ranger

 

[cardinal biggles]

^Amen to that. I'd forgotten how hot they all were back then.

 

[Squiggy]

http://i98.photobucket.com/albums/l245/squiggyfm/Trash/Post1.png

I can't tell if Posh Spice is either a robot, or has no soul. Those eyes, it's like there's nothing there.

I think she's aged the worst out of the lot.

 

[John Picard]

^ The one in the orange? I'd hit that. The rest of them? ew.

Agreed

Blame Barney Frank. Is there no end to right wing bullshit?

Do some checking on YouTube. Barney's fingers are all over this mess.

 

[Squiggy]

Do some checking on YouTube.

This is why you fail. Youtube? Seirously?

 

[TheLonelySquire]

Blame Barney Frank. Is there no end to right wing bullshit?

I believe we forgot to add Chris Dodd to the list of culprits.

 

[Red Ranger]

^ The one in the orange? I'd hit that. The rest of them? ew.

Agreed

Blame Barney Frank. Is there no end to right wing bullshit?

Do some checking on YouTube. Barney's fingers are all over this mess.

Thanks for the laugh, John Picard. YouTube is not a credible source. It's like saying, "My neighbor, who's a pretty smart guy, says Barney Frank is responsible for the financial meltdown!" Laughable. No wonder your side of the aisle lost the last presidential election -- facile finger-pointing!

Let me break it down for you. Many things went wrong. The road to hell is paved with good intentions. First, a Bush initiative, which Congress made possible, to make the dream of home ownership available to more Americans went awry. Too many of these so-called subprime mortgages were issued to folks whose credit was spotty. Banks, in order to make money, threw out their standards to get the business of these folks.

Then, these mortgages were packaged into risky mortgage-backed securities, akin to junk bonds. Then, Wall Street bought and sold these securities and firms like AIG slapped insurance on them, and these insurance policies were traded as well. Then, the bond rating agencies gave these bonds higher-than-warranted bond ratings.

Then, the economy started tanking, and companies started laying people off. These people then couldn't pay their mortgages. Once banks started foreclosing on these subprime mortgageholders who lost their jobs, the bonds backed by these mortgages started tanking. This started a cascade effect as so many investors held these pieces of paper, leading to mounting losses at hedge funds and brokerage funds.

This led to the credit crunch which even threatened normally safe money market funds, and led to the series of bailouts.

It's more complicated than I've outlined, but these are the broad strokes. Yes, Fannie Mae and Freddie Mac played a part in this mess, but it's more complicated than you or your conservative brethren think.

My qualifications? I was a business journalist before I became a freelance writer and editor, and I used to write about mortgage-backed securities, as well as corporate financing like initial public offerings, and I used to write about mutual fund managers and their investment strategies.

What are your qualifications, if any? YouTube? Ludicrous!

Red Ranger

 

[Crash]

Let's also not forget that the conservative wankfest is over the CRA, and roughly 15% of foreclosed homes fell under the provisions of that law. The rest didn't, and yet conservatives insist on blaming the CRA.

 

[Neroon]

Unfortunately, Dayton, with the timeline given, your solutions will not help people in the short term. Of course the economy will rebound in the long term, but people are suffering now. Extending their unemployment bennies six months isn't a solution in an economy that won't really be back on its feet for 2-3 years.

Well said, Maestro. And a good example of how to reply in this rather charged debate.

I haven't had the job troubles many others have had, but it's come very close on a couple of occasions. However, several of my friends have been hit with layoffs, experiencing unemployment for over a year or two or more in some cases. A six month extension doubtfully would help much at all. These bailouts concern me, if for no other reason than the nation already is so deeply in debt. Consequently, it makes sense for people to try coming up with another solution that might be less expensive or more creative.