PeakOil is You
Washington's Day of Reckoning!
Re: Washington's Day of Reckoning!
by perdition79 » Sun 01 Feb 2009, 15:36:38
Don't worry about it. The violent rioting in California this week will take attention away from the stimulus plan.
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"We are building a religion; we are building it bigger. We are widening the corridors and adding more lanes."
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"We are building a religion; we are building it bigger. We are widening the corridors and adding more lanes."
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perdition79 - Tar Sands
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Re: Washington's Day of Reckoning!
by Quinny » Sun 01 Feb 2009, 15:40:52
cbxer If the republicans had won you probably wouldn't have an unemployment cheque.
Don't you realise it might be in a small way, but you are being bailed out!
Don't you realise it might be in a small way, but you are being bailed out!
Live, Love, Learn, Leave Legacy.....oh and have a Laugh while you're doing it!
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Re: Washington's Day of Reckoning!
by miskatonic » Sun 01 Feb 2009, 16:13:14
$this->bbcode_second_pass_quote('perdition79', 'D')on't worry about it. The violent rioting in California this week will take attention away from the stimulus plan.
If riots happen at all, it will not be for at least another 3 weeks to a month.
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Re: Washington's Day of Reckoning!
by billg » Sun 01 Feb 2009, 16:16:25
Not to mention...
$this->bbcode_second_pass_quote('', '[')b]Billions more needed for financial rescue
By DANIEL WAGNER – Jan 28, 2009
WASHINGTON (AP) — The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.
Details are still being worked out. But the administration is looking to spend hundreds of billions more to address the foreclosure crisis, help banks get out from under weighty bad assets and expand liquidity programs.
Looming above these is a proposal to set up a federal bank — dubbed a "bad bank" — that would buy troubled assets clogging financial institutions' balance sheets. This would free the institutions to lend money and would entice wary investors back into the market, proponents say.
But the government will have to commit far more money than policymakers were discussing even a few weeks ago.
"I think we're talking hundreds of billions of dollars," said Brian Gardner, an analyst with the research firm Keefe, Bruyette & Woods. "I don't think there's anyone who doubts the administration will be going back to the Hill for more than the $350 billion" recently released from this fall's $700 billion bailout package.
The International Monetary Fund wrote in a report Wednesday that losses from banks in the U.S. and Europe already have topped $1 trillion and could reach $2.2 trillion.
At that rate, the banks will require "at least half a trillion dollars" to remain solvent, the report says.
$this->bbcode_second_pass_quote('', '[')b]Billions more needed for financial rescue
By DANIEL WAGNER – Jan 28, 2009
WASHINGTON (AP) — The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.
Details are still being worked out. But the administration is looking to spend hundreds of billions more to address the foreclosure crisis, help banks get out from under weighty bad assets and expand liquidity programs.
Looming above these is a proposal to set up a federal bank — dubbed a "bad bank" — that would buy troubled assets clogging financial institutions' balance sheets. This would free the institutions to lend money and would entice wary investors back into the market, proponents say.
But the government will have to commit far more money than policymakers were discussing even a few weeks ago.
"I think we're talking hundreds of billions of dollars," said Brian Gardner, an analyst with the research firm Keefe, Bruyette & Woods. "I don't think there's anyone who doubts the administration will be going back to the Hill for more than the $350 billion" recently released from this fall's $700 billion bailout package.
The International Monetary Fund wrote in a report Wednesday that losses from banks in the U.S. and Europe already have topped $1 trillion and could reach $2.2 trillion.
At that rate, the banks will require "at least half a trillion dollars" to remain solvent, the report says.
"It is no measure of health to be deemed sane in an insane society" J. Krishnamurti
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Re: Washington's Day of Reckoning!
by Snowrunner » Mon 02 Feb 2009, 03:05:50
$this->bbcode_second_pass_quote('cbxer55', 'B')elieve me, it is not a walk-in-the-park. It is a lot less than what we made working, so we have to cut out a lot. But at least we can keep the house and its bills paid for. Since we do not have car payments or credit cards, and do have some money in the bank. w'ell do alright.
Clearly you must be doing it wrong. I am being told over and over again by people that if you are on welfare it is a golden ticket for early retirement where you make as much if not more than if you'd be working 10 hours a day.
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Re: Washington's Day of Reckoning!
by ReverseEngineer » Mon 02 Feb 2009, 06:28:40
$this->bbcode_second_pass_quote('cbxer55', 'Y')es, I realize that in a small way unemployment is a bailout. Believe me I wish i did not need it, I would much rather be working. Unemployment insurance is one of the big differences between now and The Great Depression. It gives you a small safety net and some time to find new work before TSHTF. You get about nine months to struggle along before you lose everything.
So its OK for you to have a Safety Net, but it wasn't OK for the poor people who came before you joined the party? Unemployment is just another form of Welfare. Its Big Goobermint sucking out my tax dollars so you can stay in your house. Etc, etc, etc.
Soon enough in CA, they'll be paying out Unemployment in CalBucks. No idea how solvent the OK unemployment fund is, but my bet would be not so solvent. So would you have Obama cut out of his stimulus package the money earmarked to bailout the Unemployment funds of OK? In that case, I doubt you would have 9 months coming to you, unless you take OKbucks and you can use them to pay your mortgage.
Unemployment Insurance worked only so long as the economy worked. You have to have enough people paying into the system to support the marginal number unemployed at any given time. Long as it stayed in the 5% range, it was doable. As it soars past that, its an actuarial nightmare.
If you really were true to your philosophical diatribes, you wouldn't be accepting this Welfare money. Particularly when its going to be funded by the Obama stimulus package you abhor. Its obvious hypocrisy, along with taking the Make Work Job that Obama creates in the next Stimulus package or the one after that.
Anyhow, if I were you, I would get out of the house NOW and save the unemployment money Obama is giving you, or use it to buy more and better preps for your parent's paid off house. You could buy some Solar Panels for the roof, and when the lights go out, you can thank Obama for extending your Unemployment long enough for you to buy them.
Reverse Engineer
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