Bail Out failed ! What did you do? (in Off-topic)


Little Anthony September 29 2008 11:18 PM EDT

I just tried to save my little $ in gold index and T Bill.
What did you do?

Usul [CHOAM] September 30 2008 1:31 AM EDT

It's funny that the Congress refuse to let out 700bil , but willing to just watch the stock market plummet and lose as much as 1.2 trillion dollars in market value :D

Sacredpeanut September 30 2008 2:17 AM EDT

A good time to buy shares, some sort of bill will go through eventually and when it does, shares will rebound.

chuck1234 September 30 2008 6:17 AM EDT

not yet, there's still one full year of recession to go around, so better stick to commodities or treasury bills rather than shares atm

Sickone September 30 2008 7:20 AM EDT

So who do you think would have paid off those 700 bil USD in the end ?
Yup, that's right, you, the tax payer.
You're going to pay it either way, but at least by NOT "bailing them out" the ones that will pay it off are those who got into debt to get those properties, not everybody equally wether they're in debt or not.
Because the housing prices are artificially inflated, because the banks were in the habit of lending so much money it was only a matter of time until the bubble burst from all the people who "bet" on housing prices continuously climbing (the only reason they were climbing being the huge credits given in the first place).
The world should have never abandoned the gold standard in the first place, and this is a direct consequence of that decision, way back nearly half a century ago.

Want to invest in something ? Invest in OIL :)
We're past "peak oil" already (actually, peak oil was around 2005 or so), so oil prices can only go UP from now on. And yes, that's up compared to gold, not just compared to the USD.

Sickone September 30 2008 7:27 AM EDT

P.S. Gold is always a decent deposit, but only if you have it in physical form. Any form of "redeemable bill" for gold is just setting yourself up for a big shafting.
Also, treasury bills ? Hillarious. What's one of the first things that will come crashing down in value once the banking/economic system starts to collapse ? Yup, the treasury. Getting T-bills in a time of crisis is almost just as good as setting a pile of cash on fire.

Commodities, especially natural resources of any kind or their direct byproduct (precious metals, regular metals, oil in any form, even coal, lumber, cotton, wool or similar) there's where the actual investment security lies.
Of course, precious metals have the greatest advantage, being easiest (and cheapest) to transport in case you need to.

Unappreciated Misnomer September 30 2008 7:52 AM EDT

the proposed 700billion, as you call it is actually more money, its infinite as to how much itll cost. it curve is that only at one time can 700billion be lent out. its a rolling 700billion, in the sense that once for example 300billion of bad debt is cleared up they can go and respend that money.

Flatcap [East Milwaukee Devival] September 30 2008 8:13 AM EDT

Actually bonds are the most stable as it's actually a debt note from a government. So unless the government melts the interest will be paid. Local bonds are usually a good bet, along with the warm fuzzy feeling of throwing money at your community.

Personally? I dumped my money into beer futures. Mainly the six pack I have in my fridge. Mmmm Pumpkin Lager.

If I really had any cash I would put money in component manufacturers, mainly ones that make bits for solar and medical equipment. Always demand and they tend to have a divident. Or buy up some of those ever so distressed properties in the city.

Admindudemus [jabberwocky] September 30 2008 8:38 AM EDT

expecting business to trade profits for responsible self-regulation is kinda like applying the concept of gravity to the basis of an economics platform.

Brakke Bres [Ow man] September 30 2008 8:58 AM EDT

I find it funny that every baby born in the USA already has a debt of 32000 USD. Way to go Bush!

More Bush highlights:

You can't say he was the worst president ever! He did in eight years more then any other president!

He started two wars.
Ruined the Economy, not just the USA but the whole world.
Investors lost all faith in the stock markets.
The Dollar dropped to an all time low.
Ethnic groups hate the USA even more then they ever did.
Not just investors lost all faith, because of his 'USA first' policy Europe lost it too.

His mad dash for oil made him rich, or at least his daddies companies.
Cheney's companies, Iraq anyone?

And of course he let a whole City down in its time of need, New Orleans.
Ow and he ruined the nice little peace talks Clinton started up in the middle east.

So he's not the worst out there, but probably a good second best.

And you guys are trying to get another one in? Read McCain.

Nah, if you really want to save your cash? Invest in Euros! at this rate the USD is dropping even more!

3D September 30 2008 10:35 AM EDT

Well, why did we vote for him a second time if he is so crappy? :P

Brakke Bres [Ow man] September 30 2008 10:36 AM EDT

now thats a good question :)

Lady Die September 30 2008 11:20 AM EDT

I didn't vote for him!

{Wookie}-Jir.Vr- September 30 2008 12:15 PM EDT

Because he was the lesser of two evils at the time, and the general public didn't think he could do any worse then he already did.

That's my assumption from hearing from people who did vote for him. (I didn't)

Godpanda September 30 2008 12:55 PM EDT

Because people are stupid. Infuriatingly, nightmarishly stupid. Whatever problems you may see in the world around you, I promise, are directly caused by someone acting with their nature, ie. stupidly.

iBananco [Blue Army] September 30 2008 1:10 PM EDT

Natural disasters.

{Wookie}-Jir.Vr- September 30 2008 1:11 PM EDT

Mushu is behind those as well.

QBBast [Hidden Agenda] September 30 2008 4:00 PM EDT


Bail Out failed ! What did you do?

To answer the question: I voted no.

Picasso September 30 2008 4:03 PM EDT

Bast works in Congress?!

Admindudemus [jabberwocky] September 30 2008 4:22 PM EDT

bast is congress! we live in a bastocracy.

Goodfish September 30 2008 4:23 PM EDT

>>Because people are stupid. Infuriatingly, nightmarishly stupid. Whatever problems you may see in the world around you, I promise, are directly caused by someone acting with their nature, ie. stupidly.

Similarly, the problems in the world you see are always created by somebody who is not you. ;)

I suggest we all just give up and create our own CB-topia somewhere off the coast of Florida. Take over one of the Keys or something and secede.

Admindudemus [jabberwocky] September 30 2008 4:25 PM EDT

your plan to secede can never succeed. however, in this can failing to plan might not be the same as planning to fail.

Kefeck [Demonic Serenity] September 30 2008 4:27 PM EDT

That wouldn't fix the problems borgin. Cause technically a different CB member would be the problem starter right?

Goodfish September 30 2008 4:28 PM EDT

You sound like The Sphinx from Mystery Men. :)

Goodfish September 30 2008 4:28 PM EDT

Err, @ dudemus. Stupid time, interfering with my desire to get posts in when I want them! ;)

Colonel Custard [SeeD] September 30 2008 5:31 PM EDT

Henk: The U.S. Dollar went up slightly and the Euro dropped noticeably in value on the world trade market yesterday.

Also, explain this:
"Ruined the Economy, not just the USA but the whole world.
Investors lost all faith in the stock markets."

I'm not Bush's biggest fan, but you can't just blindly attribute everything that's wrong with the world to him just because you don't like him/don't respect him/think he's stupid/are from Holland. How is he responsible for the economic crisis? As far as I can see it, his biggest failure was not going Teddy Roosevelt on the big financial institutions. And what President has since Teddy himself?

I acknowledge in advance that I may have made a mistake or overlooked something while making this post. Please correct me if I have.

Admindudemus [jabberwocky] September 30 2008 5:44 PM EDT

"How is he responsible for the economic crisis?"

deregulation mostly complicated by waiting too long to act when it all started falling apart.

Brakke Bres [Ow man] October 1 2008 10:51 AM EDT

He did little speech in 2002, that speech was the direct cause for people to 'upgrade' there mortgages and loan even more, more then they could afford. Which led to the financial crisis as we know it.

Lady Die October 1 2008 11:08 AM EDT

[Borgin]Goodfish September 30 4:23 PM EDT >>Because people are stupid. Infuriatingly, nightmarishly stupid. Whatever problems you may see in the world around you, I promise, are directly caused by someone acting with their nature, ie. stupidly.

Similarly, the problems in the world you see are always created by somebody who is not you. ;)

I suggest we all just give up and create our own CB-topia somewhere off the coast of Florida. Take over one of the Keys or something and secede.

----
Borgin, Sadly this wont work. After all, Humans are known for their need to breed and i'm sorry but there is just not enough of a selection. Meso and I would go mad!

(j/k)

TheHatchetman October 1 2008 11:18 AM EDT

Don't worry, I'd visit seeing as it's nearby. And there's enough hatchet to go around ~_^

Lochnivar October 1 2008 11:33 AM EDT

/me is fully qualified for breeding duties... at least that's what the staff at the local 'donation' clinic said.

Hey, judge me if you will but supporter items do not grow on trees and I need my 2 AoFs....

AdminTitan [The Sky Forge] October 1 2008 7:33 PM EDT

Also, explain this:
"Ruined the Economy, not just the USA but the whole world.
Investors lost all faith in the stock markets."

Allow me to. How would a country with the largest GNP and GDP entering a depression not cause the world's economy to suffer.

Colonel Custard [SeeD] October 1 2008 7:38 PM EDT

AG, you still leave it up to me to attribute guilt to Bush. If I don't decide it's his fault on my own, your argument does not at all help prove the point I asked about.

AdminTitan [The Sky Forge] October 1 2008 7:41 PM EDT

Its quite obvious that Bush hurt the economy, I assumed I didn't have to argue the clear points.

AdminQBGentlemanLoser [{END}] October 1 2008 7:52 PM EDT

The Media was quick to blame over here (still haven't moved house yet...).

"ZOMG! House Prices are falling! Lowest Ever!"

Splattered all over the press.

Guess what. People saw that, decided in droves not to buy properties, so sellers had to reduce thier prices to get interest...

Thank you so much Media Moguls.

Colonel Custard [SeeD] October 1 2008 10:14 PM EDT

"Its quite obvious that Bush hurt the economy"

If you're referring to the budget deficit, that has nothing to do with popping housing bubbles.

Goodfish October 2 2008 12:31 AM EDT

I'm moving to Borginopia. You all are welcome by personal invitation.

At least _my_ market won't crash. Oh, and Bush won't be president. Win-win.
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