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by jstol3 from kansas city

Last Post 14 days, 7 hours Ago


NOT A CRISIS
Sep 30, 2008 | 6:40 AM
Category: News
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They keep trying to frighten us by telling us that credit will dry up and we won't be able to buy anything. The good banks all have money. They make money by lending money to good customers. If you have good credit you will be able to borrow money. The banks are still advertising money to lend. If you have so-so credit you will probably be able to get what you need.

If you have bad credit its time to start tightening your belt and being concientious about paying your bills. If you can't pay your bills don't borrow. Live within your means.

If each of us and if each business lived within our means we would not have the mortgage crisis or the current economic downturn.

A great man once asaid "we have nothing to fear but fear itself'. It is time for us to remember those words and to stop allowing the people who caused our problems to frighten us.

NO BAILOUT FOR THOSE WHO ACTED IRRESPONSIBLY!!!

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Member Comments Total Comments: 11
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mnaines read my blog view my photos
Sep 30, 2008 | 8:34 AM

I think those who got us into this mess are those who should get us out of it. Make the corporate executives and CEOs bail themselves out.
mnaines read my blog view my photos
Sep 30, 2008 | 8:40 AM

I do not think it is right for taxpayers to fork over our money to corporate greedmongers who won't even use their own money to do the right thing. I am seriously contemplating not paying any taxes at all until the government sides with the middle class and starts providing benefits for Main Street instead of their rich b****es on Wall Street.
Searchingtoo read my blog view my photos
Sep 30, 2008 | 10:05 AM

How are we going to track down all those Democrats to make them pay? They were trying to make it a right to own a home.. It is not a right.. you gotta work for it.. just like the rest of us.
mnaines read my blog view my photos
Sep 30, 2008 | 10:16 AM

Searchingtoo, its not just democrats, its republicans as well. Both parties are guilty of bringing us into this mess - the Republicans for offering tax breaks to corporations and the Democrats for not being aggressive enough to stop the Republicans from messing up our economy. The Democrats are the ones who run the banks, while the republicans are the ones giving the banks and the rich SOB's in the upper class tax breaks at the expense of the middle class.
mnaines read my blog view my photos
Sep 30, 2008 | 10:18 AM

I think this election will hinge on who can actually clean up the mess that was made, but right now, it looks like neither Barack Obama nor John McCain can or will clean it up. They're too busy blaming each other for making the mess.
MFerbet read my blog
Sep 30, 2008 | 10:23 AM

I think that Bush and his cohorts are using Fear to try to bully Congress into making another very expensive mistake. Iraq was done exactly the same way. It's got to be NOW....

Your right. Absolutely. WE, the American Tax Payers should not have to bail these Banks out. They made the decisions... let them be accountable for them. If I make bad decisions, I must be accountable for them.

I think new legislation needs to be put forward to regulate Wall Street. To some degree... let's not get crazy and overregulate, but I think that these Banks and Mortgage Companies have proven that if you don't watch them, they will become corrupt, and make very bad choices. And I think that some kind of regulation needs to take place. Oversight into ANYTHING that the Government has investments in, as well... should be a given.

We will survive this... as we have survived other tough times. The problems on Wall Street have more to do with Greed, than anything else.
mnaines read my blog view my photos
Sep 30, 2008 | 10:25 AM

However, I do see some good news in this whole mess...The good news I see is this: With the stock market this low (and it will only get lower), I think that the average joe will be able to get into the stock market game as the economy starts to recover. I think that would be a perfect way to help the economy recover once the government does its job is for the average joe to invest in stocks as the economy starts its recovery process - buy as many stocks as you can afford as the economy starts its recovery process, and I think, given enough time, that the economy will be better after this mess than it was before.
BasehorLady read my blog view my photos
Sep 30, 2008 | 5:56 PM

I heard if this passed it would take about 10 months to recover. If this doesn't get passed, it could take 10 years to recover. If that's the truth, I vote for the bailout because I don't have time to wait to see IF we will recover. If this doesn't pass, some of our employers won't even be able to get loans to cover our paychecks, and I'm not talking big companies, but even some of the smaller companies. Assets could be frozen and even if you have the money, you might not be able to access it immediately. My employer moves money around from time to time, I'd hate to think that they could have their hands tied and the employees have to suffer.
mnaines read my blog view my photos
Sep 30, 2008 | 6:16 PM

BasehorLady, you want an idea of just how bad its going to be for us? Take a look at Japan. They have been in the same mess we're in now for the past 10 years, and they still haven't recovered from it.
jstol3 read my blog
Sep 30, 2008 | 7:25 PM

"The only thing we have to fear is fear itself". The banks hve plenty of money and it is available to those with good credit. The only businesses, banks and people that need to worry are those with marginal or bad credit. Don't let them frighten you. If you scare easily you give up your money to irresponsible people. This is a "snake oil" sale - don't buy foolishly!
American1966 read my blog view my photos
Oct 1, 2008 | 8:11 AM

One thing they are not touching alot on is, whether we bail them out or not our market will get better. Dropping 700 million into their system true enough will prevent some from becoming unemployeed as well as prevent some from loosing their life savings. I did not see anyone bailing out Enron, it cause some retiree's their entire lifes finances, it caused thousands of innocent people to be unemployed. Our market is still in place as well as there are still other businesse's going out of business leaving thousands unemployed and our markets will not crash because of it. As for Japan, it could be looked at many ways. (my way of looking at it is that is one of this countries biggest problem now is to damn much concern in foriegn affairs and a lack of concern for our own.) Another problem with Japan's economy is they have no body in place to ensure there are standards and safety measures in place for the products they are mass producing (The USA 30 years ago when things were cheap and jobs were plentiful) You see we have already lived that era, when you put all your safety measures in place as the USA has done to get out of the erfa that Japan is in now it caused the producers to have to raise their prices to stay in business or it cost them in regulations to much to stay in business in turn seeing a more profit margin to move their business out of the USA for profit margins ONLY.
Hence the blame that so many people would like to lay on an adminastration during an election year. Sure they could operate differently but it all ends at the PROFIT MARGIN
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jstol3

independant. If anyone wants to correspond directly with me you can do so at jstol3@netzero.com. I see myself as both a conservative and a conservationist. I despise wastefulness but I don't want environmentalists telling me how to live my life. I'm all for a free market system except when it comes to energy. This is a monopoly thast needs to be regulated! I diverge from most conservatives when it comes to abortion and stem cell research as I belive in freedom of choice and scientific progress as I believe that we were given a brain to think with. Knee jerk reactions and one issue politics turn me off. I am both a Vietnam veteran and former Vietnam war protester (we should have been allowed to win). I am an advocate of the war in Iraq (as long as we do what we have to to win) and the war on terror.

Member Since: 11/2/2006