http://money.cnn.com/2008/09/29/news/economy/bailout/index.htm?cnn=yes
-The American Dream is near its end. time to move to Europe
-The American Dream is near its end. time to move to Europe
$700 Billion Bailout Passed!
- Thread starter Arauz
- Start date
The_Sinister_7
Member
Hate to break it to you but a total collapse of the American economy will effect Europe and Asia. Besides all this means is the rich get less rich for a little while, the poor will stay poor and the middle class will..... be poor. relax everything is going as planned
Charlie a.k.a. Chuck
Driver
nothing new here... the economy runs in cycles, some times its good and some time its shitty. right now where in the shitty time, but it will solve it self in the future like it has many times in the past.
BLADDER_MASTER
is no more
BLADDER_MASTER
is no more
Might as well mention that Wachovia got bought out by Citigroup. Save myself the trouble of making a new thread.
http://money.cnn.com/2008/09/29/news/companies/wachovia_citigroup/index.htm?postversion=2008092908
http://money.cnn.com/2008/09/29/news/companies/wachovia_citigroup/index.htm?postversion=2008092908
ur right, but drastic changes will take place and I think thats what everyone is scared off.
The_Sinister_7
Member
Right now the only people who are getting screwed badly are people who lived beyond their needs (Morons) and people who live big on credit (Wanna be bigtymers. some not so smart rich folk).
Thats just a very narrow view, for me anyway. My life has not changed much since 9/11. I make much more now and in fact got a raise last week. hell I make more then I did 4 years ago easy, only problem is cost of living has rose to meet my raises There should be some collateral damage but the market should rebound and maybe even become stronger if not a lot more stable. Obviously we need a restructure bad becuase the old one did not work and has become outdated. Hopefully the government will get restructured in the near future as well becuase this system, although very good has some major major flaws.
PS I am no expert, Tonymac will come in here and drop some knowledge I am sure of it
Thats just a very narrow view, for me anyway. My life has not changed much since 9/11. I make much more now and in fact got a raise last week. hell I make more then I did 4 years ago easy, only problem is cost of living has rose to meet my raises
There should be some collateral damage but the market should rebound and maybe even become stronger if not a lot more stable. Obviously we need a restructure bad becuase the old one did not work and has become outdated. Hopefully the government will get restructured in the near future as well becuase this system, although very good has some major major flaws.PS I am no expert, Tonymac will come in here and drop some knowledge I am sure of it
metaru_gia
Spectator
waiting for TonyMac.
mandy240sx
Member
we'll just have to wait in see the end result of this unpassed bailout program and see wat else the goverment has got hidden under their sleaves to help tis crumbling economy. but like everyone has said there are ups and down phases in the economy
Charlie a.k.a. Chuck
Driver
that has to be one of the stupidest things that any one can do.
ZenkiSX
Driver
Bailout plan wasn't that great of an idea to begin with. It would only help for a very little time.
All that would happen is banks would sell property for half of what they were worth. Yeah making cheap housing.
But what happens when you live in a neighborhood and about 5 house that are being sold by banks are being sold half cost?
Well your house is going to lose property value. So now a house that you owe, lets say 180,000, on is now only worth a 100,000 on the market. So what will most people do? They will walk away from their homes putting the banks right back where they are now. So in the end the bailout plan is an EPIC FAIL! lol.
And like someone said above, as long as you don't spend more than you make you will be perfectly fine and live will go on as it always has.
All that would happen is banks would sell property for half of what they were worth. Yeah making cheap housing.
But what happens when you live in a neighborhood and about 5 house that are being sold by banks are being sold half cost?
Well your house is going to lose property value. So now a house that you owe, lets say 180,000, on is now only worth a 100,000 on the market. So what will most people do? They will walk away from their homes putting the banks right back where they are now. So in the end the bailout plan is an EPIC FAIL! lol.
And like someone said above, as long as you don't spend more than you make you will be perfectly fine and live will go on as it always has.
