can anyone explain to me the pros and cons of the bailout... i see that they are going to try to make a new bill to get passed. but what happens if they do or dont get it passed? im trying to read some stuff on it now but im at work and im tired as hell and all the words are just blurring together.

 

I know this thread is borderline political, but let me say something to our admins (I love you all dearly by the way <3)

I know that political stuff on the forum is bad, but this is beyond that. This is something that effects us all. The government, weather it be Republican, Democrat, or Independent, need to work together to find a way out of this mess. From chainstretchers post in the CBRForum rules:

This is something that, if it gets much more out of control, will effect everything (even riding). I know that sounds like a far fetched statement, but is it really? If we get into a very bad recession, you bet your *** this will effect our riding. It'll effect everything.

With that being said, I for one am very concerned about the direction our economy is going right now. Jobs are being lost. Businesses are shutting down. Banks are going bankrupt. The American people are struggling just to make a living, and yet the government wants to take more away from us and give put it into the hands of businesses that can't even maintain themselves. The american public overwhelmingly disprove of the bailout for that reason (75%+), and yet almost half voted for the bailout. "We the people" aren't exactly calling the shots with this hole that's been dug. We are the governemt. We the people call the shots.

I'm not turning this into a republican bashing or democrat bashing argument. I could care less who's at fault. We need a solution, and we need it fast... or there's going to be a lot of bikes for sale over the next few years...

 

For what it's worth, the increased gas and oil prices have really reduced my bike rides and those of my friends in recent months - bike sales here are however on the rise, as more and more people see the advantages that bikes have to offer. Our climate is also one of the sunniest in the world (over 200 sunny days a year) so it's ideal for bikes. Pity the Govt takes so much revenue from Petrol and cigarettes.......(and spends it on **** we don't need) - but that's another, typically African, story.

 

I live in Korea so this doesn't effect me... oh wait the asian stock market is down MORE of a %-age than the US... The exchange rate is higher than I have ever seen it, I make so much less now than this time last year in USD that I could pay a house payment from the difference. I wish the media would just shut-up about it before they create a global economic collapse from the panic.Where the **** is superman when you need him!

On the bright side my job is secure and gas prices are going down, so I am better off right now than 4 months ago. That is unless the north decides to invade if things get really bad... not even sure if Kim Jong Il is even alive anymore.

 

With the bail out: it cost’s tax payers 700 billion and we still have a falling housing market that needs to find a bottom and its back to business as usual for the banks who almost went under due to their own mistakes. They can keep lending great amounts of money to people who cant really afford it with not much money down. They can still package these mortgages in a bundle and sell them on the open market and we will be right back in the position again in a few years…bailing them out

Without the bail out: Many banks will fail and get bought out by other larger, healthier banks like Citigroup buying Wakovia right now for pennies on the dollar. However, we, as tax payers, are still on the hook for much of it because some banks may be in such bad shape that the FDIC may just have to start shelling out bucks to cover peoples savings accounts when they fail and are not bought by a larger bank. It is possible that it could be more than the 700 billion…. Without the bail out, we find the bottom of this market much faster though and can get back to growing the economy quicker.
The change the politicians should be talking about (and they are not) is we need to re-establish the law that stops banks from selling bundled mortgages on the market. Bill Clinton signed a bill to eliminate this law and the lending free for all began. If banks have to hold their own mortgages, they are gonna make damn sure you have the ability to repay the loan and have a decent amount to put down…..in other words….it forces responsible lending again.

 

DADDY!!!

Since I was found on the side of the road, in Korea, the running joke at my work is that Kim Jong Il is my illegitimate father.

Which means, I may have my own country to run in the next couple of days and after that I wirr rure the WORRD!

 

WOO FOR PRESIDENT !!
Gotta be a good thing - a biker as the head Honcho....

 

+1

 

LMAO!, I actually had a drunk guy a few weeks ago telling me he was from N.Korea and Kim Jong Il was his father, and he sent him away to the south to have a better life. My wife says it isn't all that far-fetched since apparently he has numerous children all over the place. So yeah... I belive you [sm=vader.gif]

 

Found an old news article that explains some of why we are in such a mess… click here (check the date, I think its sept 30 1999)

And then another on Franklin D. Raines and the people he now advises…. Click here