Comments on: What You Could Do With $700,000,000,000. http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/ A place to discuss money...for the rest of us. Mon, 23 Nov 2009 05:09:30 -0500 hourly 1 By: jack http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29904 jack Mon, 03 Nov 2008 02:40:40 +0000 http://www.mytwodollars.com/?p=1686#comment-29904 To pay the national debt, all work required is just printing out dollars and U.S done. Thats why U.S could borrow so much money without any worries. If USD doesn't becomee international money, then U.S is screwed. To pay the national debt, all work required is just printing out dollars and U.S done. Thats why U.S could borrow so much money without any worries. If USD doesn’t becomee international money, then U.S is screwed.

]]> By: Rob http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29281 Rob Fri, 03 Oct 2008 15:26:22 +0000 http://www.mytwodollars.com/?p=1686#comment-29281 Brent; The assets are "distressed" for a reason- they are worth nowhere near what the banks expected. The securities are backed by "failing" or "failed" mortgages. People who aren't, won't , or never could hope to pay the bill. Let's call it what it is - the government is borrowing money into existence, and giving it away to large businesses for free. In exchange, they get a pile of toxic waste that will likely never be worth more than it is today. Whether you like it or not ( I don't, many do ), it is what it is. If it looks like a duck, sounds like a duck, and smells like a duck... chances are pretty good it's a duck. And this time, it's a duck. Brent;
The assets are “distressed” for a reason- they are worth nowhere near what the banks expected. The securities are backed by “failing” or “failed” mortgages. People who aren’t, won’t , or never could hope to pay the bill. Let’s call it what it is – the government is borrowing money into existence, and giving it away to large businesses for free. In exchange, they get a pile of toxic waste that will likely never be worth more than it is today. Whether you like it or not ( I don’t, many do ), it is what it is. If it looks like a duck, sounds like a duck, and smells like a duck… chances are pretty good it’s a duck. And this time, it’s a duck.

]]> By: David http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29264 David Thu, 02 Oct 2008 22:10:03 +0000 http://www.mytwodollars.com/?p=1686#comment-29264 Brent My "lack of education" points out nothing - these points are from a magazine, as I mentioned in the post. And as for my opinion on the matter, I wish it wouldn't pass and we let the chips fall where they may. Depression? Maybe...but maybe that's what we need. Even as a liberal, who some say loves giving away government money, I think this is a bad deal for US taxpayers & homeowners and only benefits the wealthy corporations that screwed this up in the first place. I get nothing if I don't pay my bills or my small business fails; these guys get $700 billion. Enough is enough. Brent

My “lack of education” points out nothing – these points are from a magazine, as I mentioned in the post. And as for my opinion on the matter, I wish it wouldn’t pass and we let the chips fall where they may. Depression? Maybe…but maybe that’s what we need. Even as a liberal, who some say loves giving away government money, I think this is a bad deal for US taxpayers & homeowners and only benefits the wealthy corporations that screwed this up in the first place. I get nothing if I don’t pay my bills or my small business fails; these guys get $700 billion. Enough is enough.

]]> By: Brent Perry, CFP http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29263 Brent Perry, CFP Thu, 02 Oct 2008 21:39:45 +0000 http://www.mytwodollars.com/?p=1686#comment-29263 david, I can certainly understand your frustration and anger with our present situation, but your post points to your lack of understanding of the "bailout". Hopefully, you've been paying attention the past couple of days as Washington and the mainstream media are now calling it what it really is: an "investment". The basic plan is for the governement to buy distressed assets and hold them until they can be sold or mature, likely at a substantial profit to the Treasury and taxpayers. Is the plan perfect? Of course not. Does it suck that we are in this crisis? You bet. But action must be taken otherwise we run the risk of much, much great diffficulties. For your own education I suggest watching Charlies Rose's interview of Warren Buffett on 10.1.08. You can find it at www.charlierose.com. david,

I can certainly understand your frustration and anger with our present situation, but your post points to your lack of understanding of the “bailout”. Hopefully, you’ve been paying attention the past couple of days as Washington and the mainstream media are now calling it what it really is: an “investment”. The basic plan is for the governement to buy distressed assets and hold them until they can be sold or mature, likely at a substantial profit to the Treasury and taxpayers. Is the plan perfect? Of course not. Does it suck that we are in this crisis? You bet. But action must be taken otherwise we run the risk of much, much great diffficulties.

For your own education I suggest watching Charlies Rose’s interview of Warren Buffett on 10.1.08. You can find it at http://www.charlierose.com.

]]> By: bill http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29243 bill Thu, 02 Oct 2008 12:14:40 +0000 http://www.mytwodollars.com/?p=1686#comment-29243 2,300 for everyone? Just exactly the amount that's the max you can donate to a campaign? Hmm..... 2,300 for everyone? Just exactly the amount that’s the max you can donate to a campaign? Hmm…..

]]> By: Lacey http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29238 Lacey Wed, 01 Oct 2008 22:42:48 +0000 http://www.mytwodollars.com/?p=1686#comment-29238 This was a great post! There is so much turbulence in the market today, and people need peace of mind more than ever. It blows my mind that a bill will most likely be passed tonight. What a crazy world we are living in. I wanted to offer your readers a link to another blogger who is doing great work. He writes about our 'childhood money messages' and how the best approach to stability in today's market is to resist letting these emotions control our buying/selling habits. It is really fascinating work, and something you should all check out. This was a great post! There is so much turbulence in the market today, and people need peace of mind more than ever. It blows my mind that a bill will most likely be passed tonight. What a crazy world we are living in. I wanted to offer your readers a link to another blogger who is doing great work. He writes about our ‘childhood money messages’ and how the best approach to stability in today’s market is to resist letting these emotions control our buying/selling habits. It is really fascinating work, and something you should all check out.

]]> By: Canadian Tax Resource http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29217 Canadian Tax Resource Wed, 01 Oct 2008 04:50:41 +0000 http://www.mytwodollars.com/?p=1686#comment-29217 How about help everyone hurt by hurricane Katrina! How about help everyone hurt by hurricane Katrina!

]]> By: Doom and Gloom with the Economy at TRNT.com/LIFE http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29207 Doom and Gloom with the Economy at TRNT.com/LIFE Tue, 30 Sep 2008 17:03:31 +0000 http://www.mytwodollars.com/?p=1686#comment-29207 [...] posts about what we could do with $700 billion. This definately puts it in perspective for [...] [...] posts about what we could do with $700 billion. This definately puts it in perspective for [...]

]]> By: Rob http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29204 Rob Tue, 30 Sep 2008 15:53:01 +0000 http://www.mytwodollars.com/?p=1686#comment-29204 Haha no doubt. Once they have it in their mind to spend it, it's as good as gone. They just have to figure out to convince the remaining few intelligent congressmen to change their minds. All this bailout fuss almost makes me want to move to Canadia. Haha no doubt. Once they have it in their mind to spend it, it’s as good as gone. They just have to figure out to convince the remaining few intelligent congressmen to change their minds. All this bailout fuss almost makes me want to move to Canadia.

]]> By: david http://www.mytwodollars.com/2008/09/30/what-you-could-do-with-700000000000/comment-page-1/#comment-29203 david Tue, 30 Sep 2008 15:45:31 +0000 http://www.mytwodollars.com/?p=1686#comment-29203 Rob, "nothing" might be the best thing to do with it, for sure. But you and I know that won't happen - the government will find something to spend it on! Rob, “nothing” might be the best thing to do with it, for sure. But you and I know that won’t happen – the government will find something to spend it on!

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