Where are these trillions and trillions of government rescue dollars coming from?
Just wondering.
September 19, 2008
HousingPANIC Stupid Question of the Day
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23 comments:
The bail-out cheerleaders never seem to be able to answer the question of where the trillions of dollars are going to come from . The cheerleaders never ask if the Country can afford this price. This
funny money that will have to be paid is viewed as something that carries no cost right now for the average American . Wait until they get the bill .That is why it is so easy to get these bail-outs through
right now because the stupid public doesn't perceive the costs .Wait until they realize it costs them America as we know it .
As long as there are idiots who snap up US Treasury notes at low yields, our congressional idiots are happy to spend.
When inflation is at 10%, why would you buy a note which yields less than 4%?
The bank accounts and life savings of the Americans who didn't go party but instead worked hard and saved. The number in the bank accounts may stay the same, but the number of eggs they will buy will approach 0.
No need to wonder the picture says it all. That is where the money will come from. Looks like at least the paper industry is poised for a rebound!!
Smoke and mirrors. At the end of the day, it's all illusion and perception.
The printing press.
Can anyone say Robert Mugabe and Zimbabwe?
If George Washington were alive he would court martial the entire Bush Administration. Bush would be tried for treason.
You know the verdict on that one.
They are also now going to bail-out the money markets, announced this morning.
It seems that someone in congress would want to have something a bit more detailed in scope before spending like this, but then again what do I know, I'm an idiot.......
This 'money' does not exist.
It is Fiat currency.
America is Dead.
Thank your President and Vice-President for all they have done.
The Party that Wrecked America:
REPUBLICANS and THE BUSHCO EMPIRE
You're Welcome.
Both major parties will ask the taxpayer to bend over again.
Vote out all the scumbags.
Trillions of dollars?
They're coming out of the sweat and blood of my unborn grandchildren. It was not enough that my generation (child of baby-boomers) will probably never surpass our parents' generation, but my children and grandchildren will inherit a corrupt and bankrupt country. I guess it is time to find them a new country.
The $500 billion rescue for distressed mortgages? Well that would take care of the rest of the $800 billion in Fed reserve funds, but I don't know if the Fed can do that.
Now the Fed or Treasury(?!) feels the need to take an additional measure to insure another $2 trillion in bonds. Holy Smokes. Where do they get the money for that? Printer.
I don't know what to say right now. I'm feeling a little sick to my stomach, seriously.
Question of the Day:
"Where are these trillions and trillions of government rescue dollars coming from?"
--------------
Answer of the Day:
Got a flashlight?
We must borrow the money from the Chinese.
The trillions in bailout are actually quite small when compared to our other liabilities.
what is a few more trillion when 50+ is coming down the pipe?
Looks like at least the paper industry is poised for a rebound!!
Wrong again.
Currency is made of mostly linen.
Which is why it doesn't dissolve when you fall in the crick withcher wallet in your overalls after too much hooch.
Thank your President and Vice-President for all they have done.
Both major parties will ask the taxpayer to bend over again.
Sorry, I'm a Bush basher too, but this one really isn't him.
Except for the tax cuts for the rich, and the lack of proper regulation, it's rich bankers keeping their friends rich by stealing from the middle class.
Sure Bush isn't doing anything to stop it, because he never does, and because it's right before an election, and because he's a lame duck with a Dem congress, and because all his friends are rich.
Congress won't do anything about it because they want things to be bad before the presidential election, and because if they said "whoa" the Repubs would spin it to "reckless disregard", and because they are do-nothing idiots, and because they have rich friends too.
Much of the blame lies with the lazy, greedy, spoiled, stupid public who favors sports and guns and cars over education and being informed and being productive.
If you didn't want this to occur, then 20 years ago you should have started:
-- LIVING BELOW YOUR MEANS,
-- NOT BUYING CRAP FROM WALMART/CHINA,
-- COMMUTING A SHORT DISTANCE AND NOT BY CAR
-- NOT BUYING A HOUSE BIGGER THAN YOUR INCOME LEVEL OR YOUR NEED FOR SPACE
Keith I think these trillions of dollars for bailouts is coming from the fairies who live in the woods with their magical ponies and unicorns.
If you really want to have some magical thinking fun just imagine President Palin!
This one is an easy one Keith..take a look at this story and make this your top story please:
US Government to secure mortgage market with gold reserves
Lee Jones - 19-Sep-2008
The U.S. Treasury Department has promised “hundreds of billions” to save the US markets using its own gold reserves.
President Bush approved the use of existing authorities by Treasury secretary Hank Paulson to make available as necessary the assets of the Exchange Stabilisation Fund for up to $50 billion to buy more illiquid mortgage assets.
When the Government bailed out the the Government Sponsored Enterprises it promised to buy illiquid mortgage backed securities, but this announcement extends that pledge.
The ESF was created after the Great Depression and uses the US gold reserve as collateral for financial stability.
The plan will involve Fannie Mae and Freddie Mac increasing their purchases of mortgage assets. The Government will also expand its own purchase programme for mortgage backed assets, which was announced recently, to help increase the availability of capital for more mortgages.
Paulson says he will also work with Congress to create new legislation that will allow all mortgage backed securities to be bought up by the GSEs and the Government, instead of just those that fit within existing legislation.
This move is exactly what mortgage industry professionals have been calling for the UK Government to make. Earlier today, the Intermediary Mortgage Lenders Association urged the UK Government to take similar action. The Council of Mortgage Lenders also reiterated the call for help with illiquid assets.
Paulson said a press conference in Washington: “We are talking hundreds of billions of dollars, This needs to be big enough to make a real difference and get to the heart of the problem.”
“This morning we've taken a number of powerful tactical steps to increase confidence in the system.
“The underlying weakness in our financial system today is the illiquid mortgage assets that have lost value as the housing correction has proceeded. These illiquid assets are choking off the flow of credit that is so vitally important to our economy.”
Paulson says the Government will buy the illiquid assets but he urged that “this troubled asset relief program must be properly designed and sufficiently large to have maximum impact, while including features that protect the taxpayer to the maximum extent possible.”
Sounds like it is time to take Mr. Paulson out behind the woodshed and give him a dose of liquidity.
Got Lube?
I think that US is going to be bought by China soon.
Zimbabwe?
Soon we'll ALL be trillionaires!
"Much of the blame lies with the lazy, greedy, spoiled, stupid public who favors sports and guns and cars over education and being informed and being productive."
Wastefull:
Sports, Yes
Fancy cars, Yes
Guns, NO!
We'll probably be living in small villages very soon. We are going to NEED to be able to hunt and protect ourselves.
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