Financial Crisis!!!

Window Washing PRO said:
I think that the big problem here is that our customers watch tv, read the paper, listen to the radio .... the MEDIA is a HUGE part of this mess, and is not helping at all agitating the mind of the people, generating panic.

Let's all play Xbox only :)
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Yea ingnorance is bliss and we should all just remain stupid as to whats going on and let the smart people in charge figure it out and tell us how much money we should have and be able to spend.
 
Sentinel said:
I tend to say its all panic and politics. Sure there are a few problems and things may get worse before they get better, but I think things really aren't that bad for a lot of the people that are freaking out right now. Best advice I can give is don't panic and things will be fine. There is a lot of people playing the blame game in politics right now and there will not be a straight answer from either party they will use this in election year politics and scare people into thinking it is worse than it is then once it starts to turn around and the numbers that they want to base stuff on look better there Will be more politicizing and both parties will claim they fixed the problem. People will feel how they want to about the economy and post links to stories and supposed stats and facts and I am not trying to change any minds,but for me the economy looks great I have a plan and I am ready for when competition cant hang. Things are great and I choose to stay positive.
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Good point,,,both sides are wanting to rush to get a huge blank check before Nov elections.
1) The Dem's get the GOP (Bush admin) who requested this ridiculous amount screaming "the sky is falling" then hope to take over in Jan, replace Sec Paulson and be able to spend all this money anyway they want to with the ability to blame Bush for the problem AND the deficit. If they lose they get to blame GOP for everything, But if it turns out it's not that bad get to blame them for the problem and the bail out and get credit for the fix because they will hold both houses anyway.
2) the GOP gets all this money with Dem's in it up to their armpit because they think they are going to get to spend it and gets to blame the Dem's for yelling "the sky is falling" and rushing this through.
Whomever wins in Nov gets the money and gets to blame the other side for the panic if its not that bad or or for stalling if it is.
They both want this blank check because they think they will get control of the money and blame the other side.

Its bad for sure but the one false hood everyone is crying is that we NEED all this money so the banks can keep CREDIT open to everyone so the economy will continue. Bullshit,,,too much easy credit is what caused this and the banks know it and are NOT going to be free flowing with credit no mater what happens. They just want bailed out AFTER they have taken the profit and ran. They want the Gov to buy it from them dollar for dollar today then resale back to them later for .40 on the dollar when things stabilize. BUT The credit crisis IS HERE for you and me bail out or no bail out. If you don't have perfect credit your screwed either way. You won't buy a house without 10% down at least or anything else for that matter. Interest is going back up to 15-29.9% with buy down options depending on down payment. This money is going to internally calm the finance markets but it's not going to really help you and me to keep things status quo for us. There not going to be giving credit easy as they did no matter what. The economy IS going to crash due to no one spending because the new credit is not going to be there. Exsisting credit is going to back up on you according to your history and debt to ratio. Get your overhead and debt to ratio as low as you can as fast as you can.
The good news is there will prob be a lot of new tax breaks no matter who's in charge.
 
MudDuck said:
Good point,,,both sides are wanting to rush to get a huge blank check before Nov elections.
1) The Dem's get the GOP (Bush admin) who requested this ridiculous amount screaming "the sky is falling" then hope to take over in Jan, replace Sec Paulson and be able to spend all this money anyway they want to with the ability to blame Bush for the problem AND the deficit. If they lose they get to blame GOP for everything, But if it turns out it's not that bad get to blame them for the problem and the bail out and get credit for the fix because they will hold both houses anyway.
2) the GOP gets all this money with Dem's in it up to their armpit because they think they are going to get to spend it and gets to blame the Dem's for yelling "the sky is falling" and rushing this through.
Whomever wins in Nov gets the money and gets to blame the other side for the panic if its not that bad or or for stalling if it is.
They both want this blank check because they think they will get control of the money and blame the other side.

Its bad for sure but the one false hood everyone is crying is that we NEED all this money so the banks can keep CREDIT open to everyone so the economy will continue. Bullshit,,,too much easy credit is what caused this and the banks know it and are NOT going to be free flowing with credit no mater what happens. They just want bailed out AFTER they have taken the profit and ran. They want the Gov to buy it from them dollar for dollar today then resale back to them later for .40 on the dollar when things stabilize. BUT The credit crisis IS HERE for you and me bail out or no bail out. If you don't have perfect credit your screwed either way. You won't buy a house without 10% down at least or anything else for that matter. Interest is going back up to 15-29.9% with buy down options depending on down payment. This money is going to internally calm the finance markets but it's not going to really help you and me to keep things status quo for us. There not going to be giving credit easy as they did no matter what. The economy IS going to crash due to no one spending because the new credit is not going to be there. Exsisting credit is going to back up on you according to your history and debt to ratio. Get your overhead and debt to ratio as low as you can as fast as you can.
The good news is there will prob be a lot of new tax breaks no matter who's in charge.
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Hey randell, almost sound like you know what you're talking about....................Nahhhhhhh LOL Its a high stakes game that no one really know what will be at the end of the game. Jail people NOW
 
What good is a bailout and WHO are they Bailing Out? I think half to 3/4 of Congress and the House need to go to Jail first before we can bail them out.

Were not fixing anything only saving their behinds so they can go right back to the same crap as they were doing.
 
MudDuck said:
Good point,,,both sides are wanting to rush to get a huge blank check before Nov elections.
1) The Dem's get the GOP (Bush admin) who requested this ridiculous amount screaming "the sky is falling" then hope to take over in Jan, replace Sec Paulson and be able to spend all this money anyway they want to with the ability to blame Bush for the problem AND the deficit. If they lose they get to blame GOP for everything, But if it turns out it's not that bad get to blame them for the problem and the bail out and get credit for the fix because they will hold both houses anyway.
2) the GOP gets all this money with Dem's in it up to their armpit because they think they are going to get to spend it and gets to blame the Dem's for yelling "the sky is falling" and rushing this through.
Whomever wins in Nov gets the money and gets to blame the other side for the panic if its not that bad or or for stalling if it is.
They both want this blank check because they think they will get control of the money and blame the other side.

Its bad for sure but the one false hood everyone is crying is that we NEED all this money so the banks can keep CREDIT open to everyone so the economy will continue. Bullshit,,,too much easy credit is what caused this and the banks know it and are NOT going to be free flowing with credit no mater what happens. They just want bailed out AFTER they have taken the profit and ran. They want the Gov to buy it from them dollar for dollar today then resale back to them later for .40 on the dollar when things stabilize. BUT The credit crisis IS HERE for you and me bail out or no bail out. If you don't have perfect credit your screwed either way. You won't buy a house without 10% down at least or anything else for that matter. Interest is going back up to 15-29.9% with buy down options depending on down payment. This money is going to internally calm the finance markets but it's not going to really help you and me to keep things status quo for us. There not going to be giving credit easy as they did no matter what. The economy IS going to crash due to no one spending because the new credit is not going to be there. Exsisting credit is going to back up on you according to your history and debt to ratio. Get your overhead and debt to ratio as low as you can as fast as you can.
The good news is there will prob be a lot of new tax breaks no matter who's in charge.
Click to expand...

Exactly. Everyone is saying we need this money to free loans up. I have to tell you, I got my home loan with a 5% down, no doc. loan. The difference between me and most people who took these loans are, I have money in the bank. Plenty to survive for a long time. So if things go sour with my business, or job or whatever, I can still pay my loan every month.

These easy loans they were giving, we being given to people who were working paycheck to paycheck and had no business buying a home.

I own some rent houses, and when I have a tenant that wants to get in one, they must have $4k down. This weeds out the beatniks who dont know how to save, and are probably just skimming by. I hope credit does tighten up. I hope they do start making people put down at least 20%. It makes you work harder to make those payments every month.

Theres nothing in the constitution or bill of rights that says every american, majority, minority, or woman has the right to own a home. You have the option to, but its up to the banks to put safeguards into place to prevent this from happening. Problem is that the giv stepped in and threatened to sue for descrimination if loans to minorities and women were not made readily available.
 
Start selling what people are going to need, Water, Non Perishables, Zanax, Bulletts, Gun's.
 
The government supports large corps..So the idea is to make it tough on the little guy so we will close up shop , and then once again big business will prevail.. .. I vote NOBODY for president .. I say we the people should over throw the stupid congress and take back our country.. As far as Iraq, bring our troops home... Let all the rag heads over there kill themselves .. It is not our problem , Unless they come here starting trouble.. Then Shoot'em.. Also We should all come together (((( Remember One Nation Under God )))) I think that the idiots in washington forgot about that.. And by the way PRAY you bunch a political washington wimps... Also you want to sell what people need , Sell them There country back , Oh Wait we already pay for our country thanks to the IRS... Who do you think pays your bills ( BIG OIL, Mr Pres, Mr Pres Wanna Be , Extinguished idiots of Congress and the multitude of 5th grade educated goverment workers)) Well that would be us , the hard working middle class.. So the way I see It If I pay you ,, then you do what I Say.....Uncle Spam !!!!!
 
Just hang in there guy's, pray and hopefully it will be back to normal ONE day. DON'T GIVE UP!!!! Don't let them win.
 
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