Stock Market, Bailout, My Retirement, My Future.

[Jeremy]

This is all I really care about to be honest. My retirement is looking to be extended now cause of this fucking bullshit. I have a lot of investments and have been involved in it for years. I don't see why the government wants to bail these companies out with our tax dollars. We should not have to pay for anyone's mistakes cause if we go bankrupt no one will be there to bail us out. It's their own damn fault they sent their companies under. Why don't they offer to bail out all the Americans in severe debt right now or the people that are losing their homes? I know the bailouts will help save jobs but I still don't think the government should be bailing out any company. You know the higher ups at Lehman got million dollar packages to leave with when the regular employees got screwed? Why does the government want to always throw money at the problem? Money this country does not have. The deficit if fucking beyond repair and is so out of control we will never be out of the red.

If the government has 700 billion dollars to bail out these companies then why didn't they throw money at all the other problems in this country. I would rather my tax money go to other things than to bail out these companies. The higher ups in all these companies will get million dollar packages if they go bankrupt.


Every day this shit gets worse I think about my future. Will my 403b be worth nothing? My IRA's? My Mutual funds? At this rate it looks like we will be working till we can't walk any more. I looked into some international markets but it seems that when our market is failing so is theirs. Some of you might be a little young to think about this but it's not looking good for young people and their future. I don't know about you but I'm trying to retire in 20 years.


:worried: :worried:

 

[Jeremy]

Anyfuckingbody?

 

[PuffnScruff]

My Fannie and Freddie stock is now worth over a dollar and almost up a dollar from what I bought in at.

 

[Jeremy]

My Fannie and Freddie stock is now worth over a dollar and almost up a dollar from what I bought in at.

That's great. Now give your opinion on the matter.

 

[Da_Funk]

Well sucks to be you. There's really nothing you can do except deal with it.

 

[Jokerman]

The government is not bailing these companies out with your tax dollars. Your tax dollars have long ago been spent on war and vacations for members of Congress. They're using made-up money. But if they don't bail out some of these companies the whole economy goes into meltdown, not just some jobs.

The cause of it all? Greedy firms, greedy investors, and an unregulated, debt-based monetary system. And politicians have enabled these financial crimes. Yet the American people are far from innocent. Did anyone force you to sign their sub-prime mortgage loans that you should have known you couldn't afford? Did you try to make as much money from the stock market as you could? We have allowed this to happen and are now reaping the consequences.

Here's a thread I made almost two years ago connected to this. No one responded to it either because this board is a microcosm of society in general: Economically ignorant fucks with their heads in the sand.

http://www.streethop.com/words-wisdom/47609-workers-find-gold-goldman-sachs.html

 

[Jeremy]

Well sucks to be you. There's really nothing you can do except deal with it.

You realize you will be fucked also when you grow up?

The government is not bailing these companies out with your tax dollars. Your tax dollars have long ago been spent on war and vacations for members of Congress. They're using made-up money. But if they don't bail out some of these companies the whole economy goes into meltdown, not just some jobs.

The cause of it all? Greedy firms, greedy investors, and an unregulated, debt-based monetary system. And politicians have enabled these financial crimes. Yet the American people are far from innocent. Did anyone force you to sign their sub-prime mortgage loans that you should have known you couldn't afford? Did you try to make as much money from the stock market as you could? We have allowed this to happen and are now reaping the consequences.

Here's a thread I made almost two years ago connected to this. No one responded to it either because this board is a microcosm of society in general: Economically ignorant fucks with their heads in the sand.

http://www.streethop.com/words-wisdom/47609-workers-find-gold-goldman-sachs.html

Yeah, It looks like the bailout is for sure going to happen. The DOW is at it's lowest point in a while now. Under 11,000 points.

 

[Da_Funk]

You realize you will be fucked also when you grow up?

I'll be affected, yeah, but I reside in Canada so I'll be much better off than most Americans. Also what Jokerman said. Your whole body of society is to blame for this.

 

[Preach]

i don't have a lot of invested money yet. what can i say, i know old people who lived through ww2 would be weird with their money. keep it in their mattress cause they didn't believe in the "system". that's because they had their money invested and when everything went to shits, they lost it all. there was a huge crack in the 20s we all know about, with the following depression. right now it's like, i don't know a lot about economics but the u.s. is owing itself 9 trillion? don't even bother explaining how the fuck that's possible because i'm gonna read up on it anyway, but c'mon lol. not saying anyone deserves it, but is it likely or unlikely that you'll have another great depression before things turn okay?

i won't be fucked. the us stock market affects our market too, but not to an extreme degree. it's unlikely you'll have norwegian companies going bankrupt due to a failing economy in the us.

 

[vg4030]

The government is not bailing these companies out with your tax dollars. Your tax dollars have long ago been spent on war and vacations for members of Congress. They're using made-up money. But if they don't bail out some of these companies the whole economy goes into meltdown, not just some jobs.

The cause of it all? Greedy firms, greedy investors, and an unregulated, debt-based monetary system. And politicians have enabled these financial crimes. Yet the American people are far from innocent. Did anyone force you to sign their sub-prime mortgage loans that you should have known you couldn't afford? Did you try to make as much money from the stock market as you could? We have allowed this to happen and are now reaping the consequences.

Here's a thread I made almost two years ago connected to this. No one responded to it either because this board is a microcosm of society in general: Economically ignorant fucks with their heads in the sand.

http://www.streethop.com/words-wisdom/47609-workers-find-gold-goldman-sachs.html

I disagree that the government is not bailing these companies out with our tax dollars.. thats exactly what theyre doing, the money has to eventually come from somewhere whether its made up or not?

I agree that some people were'nt forced to take these mortgages, but the many took them after they were conned by mortgage companies looking to sell them to others.

The strange thing is, is that the government ENCOURAGED sub-prime lending a few years back, assuming that the housing market will continue to rise.. companies were given incentives to lend in this way

Im a british citizen but I pay taxes here too as I work and have investments in the states.. Im not a fan of mutual funds cos I dont feel they give good value, I prefer stocks etc.. (which are down)

Its bullshit though that Paulsen is reluctant to put a cap on executive bonuses as 'some companies' might not sign up to the bail out if their executives wont get a large pay out. That just pisses me off.. I say let em burn

 

[PuffnScruff]

I disagree that the government is not bailing these companies out with our tax dollars.. thats exactly what theyre doing, the money has to eventually come from somewhere whether its made up or not?

I agree that some people were'nt forced to take these mortgages, but the many took them after they were conned by mortgage companies looking to sell them to others.

The strange thing is, is that the government ENCOURAGED sub-prime lending a few years back, assuming that the housing market will continue to rise.. companies were given incentives to lend in this way

Im a british citizen but I pay taxes here too as I work and have investments in the states.. Im not a fan of mutual funds cos I dont feel they give good value, I prefer stocks etc.. (which are down)

Its bullshit though that Paulsen is reluctant to put a cap on executive bonuses as 'some companies' might not sign up to the bail out if their executives wont get a large pay out. That just pisses me off.. I say let em burn

Many companies did not want to give out loans to unqualified individuals. But certain members of congress that are very politically correct decided that it would be discrimination to tell people they can't afford this home or that home. That plays a part of the problem.

The repbulicans got a bill in that was struck down by democrats for partisan reasons that may have prevented this mess from happening. But will never know now.

 

[vg4030]

Many companies did not want to give out loans to unqualified individuals. But certain members of congress that are very politically correct decided that it would be discrimination to tell people they can't afford this home or that home. That plays a part of the problem.

The repbulicans got a bill in that was struck down by democrats for partisan reasons that may have prevented this mess from happening. But will never know now.

thats just makes me laugh.. i never heard about the 'politically correct' angle.

Even though some politically correct senators want something... I thought it was the law that mortgage companies cannot 'dupe' buyers into buying something they cannot afford?

 

[The.Menace]

If the government has 700 billion dollars to bail out these companies then why didn't they throw money at all the other problems in this country

Good question. I do understand that these companies have to be saved 2 prevent further damage, but there have to be consequences .... like a tax for the gain on wallstreet, it can't be that tax money is used 2 save companies and if they make a lot of money with speculation for example the tax payer don't get their share of the money....

besides that I agree with jeremey. there is money 2 save wallstreet and there is also money for war, but people can't get proper health care? And education remains a privilege?

Yeah, I agree with Jermey, I think that sucks.

 

[Jokerman]

I disagree that the government is not bailing these companies out with our tax dollars.. thats exactly what theyre doing, the money has to eventually come from somewhere whether its made up or not?

It's coming from China, Japan, and other countries who are "lending" us unprecedented amounts. And since we won't be able to pay it back, it's very likely that nearly every major US asset will ultimately pass into foreign control, including most S&P 500 companies. As the value of the dollar plunges, the Chinese will stop producing goods for Americans and begin producing it for themselves. And Wal-Marts will be empty because we've lost the means to produce anything.

 

[lii]

i wish i understood more about economics
its frustrating to read all the time how fucked america is but i dont know what to do or how fucked i really am. is it safe to have money in a bank? i have mine in a credit union but is that even ok? and is it the war that has drained our funds or was america heading this way before that?

 

[The.Menace]

Of course a war needs money and so the financial reservoir in case of a crisis is slimmer than without spending a lot of money for a war. Isn't that obvious?

 

[S O F I]

Jeremy, you will end up living on a farm after all, but not in retirement. You'll be milking cows to feed your happy pills habit.

 

[AmerikazMost]

Many companies did not want to give out loans to unqualified individuals. But certain members of congress that are very politically correct decided that it would be discrimination to tell people they can't afford this home or that home. That plays a part of the problem.

The repbulicans got a bill in that was struck down by democrats for partisan reasons that may have prevented this mess from happening. But will never know now.

That's such a lame excuse for how this happened. The major role that the legislators played was not implementing oversight mechanisms, not the non-discrimination policies.

Giving out loans to people for houses appraised at 8 times their annual salary has nothing to do with the non-discrimination policies. Not requiring proof of income when loans are made has nothing to do with it either.

Why would a company make such outrageous loans? How could they possibly expect people to pay them? Because housing values kept going up, and they saw no end in sight (or didn't want to look that far ahead). If housing values kept going up, then people got free equity and could refinance their mortgages if they needed to. But low and behold, the prices stagnated and people with these loans were asked to make payments higher than the value of their homes.

And since these greedy mortgage lenders decided they could make more loans by not requiring down payments, the home owner had nothing invested in the houses. So what do you do when you have nothing invested in a piece of property whose value is falling and the cost is extremely too high? You mail the keys back to the bank and say, "Here, it's yours. Have fun." And then the banks have to eat the outrageous risk they took.

If these lenders are going to act like banks, they should be regulated like them.

 

[Caesar]

And Wal-Marts will be empty because we've lost the means to produce anything.

Reminds me of the fat lazy fucks from Wall-E for some reason.

Could this mark the return of those factory based small towns producing goods for the rest of America and a self sustained US economy? Or is everything just going to go bust?

I think the more dangerous global threat created by this situation is that if the US is really painted into an economic corner their only trump card will be their military and thus starting a world scale war will be the only thing they can do to kick start their economy or remain globally influential.

 

[The.Menace]

I agree with amerikasmostwanted.

Giving out loans to people for houses appraised at 8 times their annual salary has nothing to do with the non-discrimination policies. Not requiring proof of income when loans are made has nothing to do with it either.

:thumb: