McCain will 'suspend' campaign tomorrow

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  1. Quote Originally Posted by Omen View Post
    I'll pay good money to see everyone responsible for this sh*t to get raped with a fire extinguisher covered in sand paper and lined with alcohol.

    The list would be very large.


    Considering the speech I just saw, without some miracle, I dont see McCain winning this at all now.
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  2. Quote Originally Posted by J. Peterman View Post
    The list would be very large.


    Considering the speech I just saw, without some miracle, I dont see McCain winning this at all now.
    Don't worry I can get enough supplies for everyone

    Who do you think is gonna handle the economy better? why?
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  3. i think this is a perfect situation. which candidate can bring about a bipartisan solution that suits both sides building consensus, and protecting the american public? isnt that what both of them say they will do as president? so heres the chance to prove whether they are even capable of bipartisan action, which we all know obama isnt. except comically in this situation obama would be more likely to have the win as mccain would like to see the bailout killed. so im glad obama isnt going back to dc. i wonder if he'll debate himself on tv?

  4. Quote Originally Posted by Omen View Post
    Don't worry I can get enough supplies for everyone

    Who do you think is gonna handle the economy better? why?
    Partisanship and political jabbing aside (which I do often and is fun), neither of these guys are qualified. Carly Fiorina was right. None of these candidates are qualified to run a major company. This is what happens when you have politicians dictate economic policy. Its the same thing that happens when politicians run a war. Its a disaster.


    Whats really sad is that the majorty of the public blame Republicans for this. They do have blame..not disputing that...but many of the guys who took sweetheart deals got booted out in 2006. They simply aren't there and not the root cause. The scary and saddest thing of all is the same people that pumped up Freddie Mac and Fannie Mae, the people who pushed the agenda for getting lower income people and people with bad credit a fair shot at loans, are the same ones you see now telling you they are going to fix it...and 99% of them are Democrats. Thats not partisan, its just a fact. Democrats control Fannie Mae and Freddie Mac and the creation of subprime was a Democrat ideology... Republicans have oil and thats another story.
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  5. Quote Originally Posted by Omen View Post
    Don't worry I can get enough supplies for everyone

    Who do you think is gonna handle the economy better? why?
    They will handle it exactly the same. There aren't very many options for this fix.
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  6. Warren Buffett: We are facing financial Pearl Harbor.
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  7. Quote Originally Posted by Omen View Post
    Don't worry I can get enough supplies for everyone

    Who do you think is gonna handle the economy better? why?
    mccain obviously. What do you think corporations will do when their taxes go up? cut costs by lowering wages or laying off people, and raise prices. Given the % of middle class income that goes towards non-housing related expenses, i'd say the middle class will be worse off by raising corporate taxes. Unemployment will climb, and so will inflation. Sounds just great, and all of us middle class families will get a WHOPPING $20 a week in tax credit. You heard that right, $20 whole dollars a week. Just think what a difference that will make!

    The reverse is true as well. Less corporate taxes means more spare dollars for corporations to invest in themselves and growth, meaning more jobs. Actually even 10x moreso right now. So theres a credit crunch and it may be difficult for businesses to get credit to finance expansion. The perfect time for a lower corporate tax so those companies have cash to do the expansion with instead.

  8. Someone once referred to Obama followers as sheep. Well lemmings, your cliff is coming, Enjoy the dive.

    :bruce3:

  9. Quote Originally Posted by Fastone View Post
    Someone once referred to Obama followers as sheep. Well lemmings, your cliff is coming, Enjoy the dive.

    :bruce3:

    I don't think you quite understand the cliff is created by the earth disapppearing under your feet.

    Obama is meeting tomorrow in Washington with everyone else. This is bigger than both of them.
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  10. Thanks for the insight.

    You people seem to know your sh*t when it comes to politics, I feel like I'm stepping in a pitch black area and quick sand, hate politics.

  11. Quote Originally Posted by J. Peterman View Post
    I don't think you quite understand the cliff is created by the earth disapppearing under your feet.

    Obama is meeting tomorrow in Washington with everyone else. This is bigger than both of them.
    Agreed, actually it's bigger than all of us.

    :bruce3:

  12. Joe Biden explained this the best.

    [nomedia="http://www.youtube.com/watch?v=Glrnb_G34E4"]YouTube - Broadcast Yourself.[/nomedia]


    Can anyone tell me whats wrong with this and can you imagine if Palin said this?


    This one is by far, the best one he's done to date.


    Give up? First, it was Hoover, not Roosevelt. Second, there were no TV's in 1929.

    Classic Biden.
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  13. give yourself a pat on the back if you voted bush back in the second time, lol.

  14. Quote Originally Posted by somewhatgifted View Post
    give yourself a pat on the back if you voted bush back in the second time, lol.
    Do you mean because he warned congress about Fannie and Freddie and yet no one did anything about it?

  15. Quote Originally Posted by Rugger View Post
    Do you mean because he warned congress about Fannie and Freddie and yet no one did anything about it?
    I am astounded how far the mighty have fallen. Introspection may prove that the current status is valid or understandable with a "we did what we had to do attitude". From afar it looks like a bed shatting, and it stinks so bad i wish i was farther away. Whom stands to benefit the most i always wonder?

  16. Quote Originally Posted by Omen View Post
    ....

    You people seem to know your sh*t when it comes to politics, I feel like I'm stepping in a pitch black area and quick sand, hate politics.
    Could not agree more! Hate blinds!
    Product Educator | USPowders
    Statements made by this online persona are the sole property of the owner, and do not necessarily reflect USPowders’ opinion as a whole.

  17. Quote Originally Posted by EasyEJL View Post
    mccain obviously. What do you think corporations will do when their taxes go up? cut costs by lowering wages or laying off people, and raise prices. Given the % of middle class income that goes towards non-housing related expenses, i'd say the middle class will be worse off by raising corporate taxes. Unemployment will climb, and so will inflation. Sounds just great, and all of us middle class families will get a WHOPPING $20 a week in tax credit. You heard that right, $20 whole dollars a week. Just think what a difference that will make!

    The reverse is true as well. Less corporate taxes means more spare dollars for corporations to invest in themselves and growth, meaning more jobs. Actually even 10x moreso right now. So theres a credit crunch and it may be difficult for businesses to get credit to finance expansion. The perfect time for a lower corporate tax so those companies have cash to do the expansion with instead.
    Unfortunately, Economics is one of those areas where we all claim expertise. With so many pseudo-experts around, things are bound to go wrong. And get worse!
    Product Educator | USPowders
    Statements made by this online persona are the sole property of the owner, and do not necessarily reflect USPowders’ opinion as a whole.

  18. Quote Originally Posted by strategicmove View Post
    Unfortunately, Economics is one of those areas where we all claim expertise. With so many pseudo-experts around, things are bound to go wrong. And get worse!
    I'm not talking from vague theory from afar, i'm talking about my own life. I made around xxxk last year, and after taxes got to keep around xxx of it. If i get stuck paying another 12k in taxes, thats $1000 a month I have to make up for somehow. So i'll likely stop paying for lawncare (around $100 a month), go out to eat even less often than now (2-3 times a month), be less likely to go to concerts and sporting events as well as not hiring a babysitter, and still be forced to raise the price of my professional services to make up for the rest. So this has direct impact on the people whose services I no longer use, and in lawn care alone the amount that is lost by me no longer using them is greater than the additional $20 a week that obama's low end tax credit will give them. I'm not the only person in this situation, and so from the longer term impact of the waste of the tax dollars by the horrible way the government uses it and the layers of beaurocracy, it ends up being a net loss for the population as it will stunt growth, and hurt many small business owners.

  19. All partisan stuff aside, what is the ramifications of no bailout vs a bailout. Obviously the deficit grows if there is a bailout, but what happens if there isn't?

  20. Business' can't acquire the money they need for basic operations.


    Probably double digit, some say 20% unemployment.


    Joe Average with a 740 FICO score can't buy a car unless he writes a check for the whole thing..that is if he still has a job.


    Budgets get cut across the board for just about everything.


    Soup kitchen lines in urban areas become a tourist attraction because of their size.


    That's a basic view of it.
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  21. Quote Originally Posted by J. Peterman View Post
    Business' can't acquire the money they need for basic operations.


    Probably double digit, some say 20% unemployment.


    Joe Average with a 740 FICO score can't buy a car unless he writes a check for the whole thing..that is if he still has a job.


    Budgets get cut across the board for just about everything.


    Soup kitchen lines in urban areas become a tourist attraction because of their size.


    That's a basic view of it.
    Is that if AIG isn't bailed out, or all the companies?

  22. No, that has nothing to do with AIG. This has to do with the 700 billion to buy the bad mortgage backed securities and take them off the banks books.

    Its basically choking the credit market to death.
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  23. Quote Originally Posted by J. Peterman View Post
    No, that has nothing to do with AIG. This has to do with the 700 billion to buy the bad mortgage backed securities and take them off the banks books.

    Its basically choking the credit market to death.
    I need to read up on this more. Let me see if I can try to understand this:

    A couple investment banks have already gone under (Bears Stearns, Lehman), and the rest are at risk if the US Gov't doesn't buy their bad mortgages? Was Fannie/Freddie previously buying their bad mortgages?

    Work with me here...I need to get smarter on this stuff.

  24. Quote Originally Posted by RobInKuwait View Post
    I need to read up on this more. Let me see if I can try to understand this:

    A couple investment banks have already gone under (Bears Stearns, Lehman), and the rest are at risk if the US Gov't doesn't buy their bad mortgages? Was Fannie/Freddie previously buying their bad mortgages?

    Work with me here...I need to get smarter on this stuff.

    Fannie and Freddie sold bundles of these mortgages to investors, then those investors sold them to other people in the form of mortgage backed securities, then that buyer has them insured through companies like AIG, etc....it was basically flipping large loan packages based on the idea that house values would increase.

    Then the original loans went into default because the people couldn't pay them, the value of the properties dropped, and the whole house of cards fell apart. You basically built this house of cards on sub prime loans and the idea that prices would continue to rise.

    Now all these people who have the mortgage backed securities on their books have extremely bad credit ratings and basically can't borrow or lend and these are the institutions who lend money to large business's who constantly use credit lines for inventory, payroll, growth, etc...

    This isn't just banks that did this. Pension funds, investment banks, insurance carriers, etc...all bought this stuff as an "investment".



    And that's a very simplistic way of looking at it...
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  25. Quote Originally Posted by J. Peterman View Post
    Fannie and Freddie sold bundles of these mortgages to investors, then those investors sold them to other people in the form of mortgage backed securities, then that buyer has them insured through companies like AIG, etc....it was basically flipping large loan packages based on the idea that house values would increase.

    Then the original loans went into default because the people couldn't pay them, the value of the properties dropped, and the whole house of cards fell apart. You basically built this house of cards on sub prime loans and the idea that prices would continue to rise.

    Now all these people who have the mortgage backed securities on their books have extremely bad credit ratings and basically can't borrow or lend and these are the institutions who lend money to large business's who constantly use credit lines for inventory, payroll, growth, etc...

    This isn't just banks that did this. Pension funds, investment banks, insurance carriers, etc...all bought this stuff as an "investment".



    And that's a very simplistic way of looking at it...
    So basically the US Gov't buys up all the bad mortgages and everything starts fresh?

    Anyway I can I get them to buy up my mortgage? That way I can buy a new house without taking a $70,000 bath through selling
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