Posted on 07/13/2008 3:31:33 PM PDT by Sleeping Freeper
U.S. rescues Fannie, Freddie Treasury Department raises credit line, has power to buy companies' stock. Fed will open discount-lending to two government-sponsored mortgage lenders. Paulson calls for new regulatory controls.
(Excerpt) Read more at marketwatch.com ...
ping
You hit the nail on the head.
i’ve got news for you: American “raises” haven’t been keeping pace with the cost of living anyway.
“I predict oil will continue to rise as long as it’s a monopoly and we stubbornly refuse to give it a competitor.”
BINGO
racism/PC had nothing to do with this. Banks were falling all over themselves to make these loans. Fannie and Freddie were actually in better shape than many others, because their standards were kept tighter.
You can’t blame this on minorities or political correctness, and bombing Iran won’t help, either. At some point, we’ve got to re-evaluate how we run our markets, because at this rate the Saudis and the Chinese will own everything we have.
Doesn’t do much good to have a totally free market when your national borders are irrelevant, and your country doesn’t own its own assets.
so? That’s how it’s supposed to work. People who save their money in responsible, secure investments won’t get rich quick, but they should do better over time.
People who take risks are necessary parts of the system and have the opportunity to get very rich very quickly, but they should live by the risk sword and die by it, too.
Right now we’re just bailing out all the risk-takers for their bad risks, and responsible people lose money. That’s insanity.
and if you DON’T save them, we’ll have Great Depression redux. Except this time, due to the globalized economy, the Saudis and the Chinese will just buy up all our assets. We’re kind of screwed either way.
That’s the thing about the “free market” as idealized by Milton Friedman: it doesn’t respect national boundaries or borders.
We’ve all been so worried, and rightly so, about Communist/Socialist one world government that didn’t respect American sovereignty, that we forgot about the possibility of one-world government by global markets that don’t respect American sovreignty, either.
uh oh
But, of course, whether we want to believe in the market or not, the effects are there...and unfortunately, most Americans want to put their heads in the sand and pretend that they have some God-given right to be prosperous and get paid more than others.
Problem is, you can't charge $100 for a widget when there's someone next door selling for less, and you can't sell an hour of your time when there's someone with equal qualifications willing to take less in salary (and benefits, including OSHA, etc.)
OH, but selling off our capital assets is called "foreign investment in America" and is a good thing, don'tcha know...
Why, if we can only sell off everything and become thralls to foreign-owned corporations, we'll be so prosperous you won't know what to do with it!
</sarc>
I hate it when the federal government tries to manage the economy.
My friend is thankful I screamed in her ear about an ARM. Her mortgage broker tried to talk her into it, it would “save” $400 a month. I talked and talked and talked until she agreed on the $400 higher payment, but fixed. Now her nieghbors are foreclosing because they are paying narly $3000 a month and she is fixed at $1250. Yes, she paid $400 more for a couple of years, but she isn’t losing her house. I told her her income will go up over time, but the house note will stay the same. I’m glad she listened too.
Ooohh, so the price goes up based on what the price will be in the future (hence the term; futures), which increases the current price because people are holding on to the oil based on what they will make later on.
Wow, it all seems so smoke and mirrors. Thanks for explaining that. Very simplistic and easy to understand. I appreciate it.
They already do. The only reason that Freddie and Fannie are being bailed out is to pay China and the Arab countries so they don't ditch the dollar entirely. We have mortgaged our entire future plus some abroad and the name of the game is to keep outgoing payments flowing while transferring all the risk to American taxpayers.
I have been called those things, and more, right here on FR for supporting the man. Now look where we are.
No, listening to the one candidate who recognizes the financial disaster we are facing and actually wants to work to prevent it is completely unreasonable because he doesn’t believe we should be the world’s policeman. Well, I have one question now for everyone; what good does it do to spend billions trying to keep Iraq from falling apart if domestically we are falling apart ourselves? Hopefully now people will realize that spending years at war while continuing to handout blank checks and printing money like there is no tomorrow is not something a responsible nation does.
I’ll be writing in Ron Paul, not because I think he has a snowballs chance in hell of winning, but because I honestly don’t see how we can hope to get out of this mess with either McCain or Obama and this detestable group in Congress. Fasten your seatbelts, it’s going to be a bumpy ride.
You want a crystal ball not an audit. Audits are historical not predictive.
needless to say, the sale would probably not have occurred if the dollar was not so low against the euro.
if you look at the u.s. govt bailout of chrysler, to provide jobs for over-priced unions, now what?
mercedes benz doesn’t even want chrysler; they bought and dumped chrysler to the cerberus group.
in the final tally, honda and toyota did us a favor; doors were falling off iaccoca’s cars.
now, americans make and buy hondas and toyotas, and they like them.
it’s called COMPETITION.
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