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Is Henry Paulsons Bill Climbing??

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noncompos

Well-known Member
As I recall, the first reports of Henry's bailout plan mentioned "hundreds of billions" (in a context that implied 200 to 300 billion), then became 500 billion.
Late Sunday, it was up to 700 billion, with a statement (I don't recall whether in an interview or on the net) that purchases would be limited to "...firms headquartered in the US".
This AM, on Bob Schieffer, he denied ever saying 500 (acknowledging reports had said 500), admitted that 700 may not be enough, and stated purchases would be made from "...firms doing business in the US...".
I missed part, and he may've limited foreign firms to those with offices in the US, which would still be a major broadening.
There's a report on Shah Gilani that the Int'l Swaps & Derivatives Assn. estimates there are 65 Trillion $$$ in such instruments in effect...(the "T" is not a typo).
 
Whatever it is they ask for it'll only be the down payment.No way any of this will ever be paid for in today's Dollars.The only way for all the massive debt to be repaid is for the treasury to print money so the US Dollar you hold today will buy maybe if you're lucky 10 cents worth of goods in a couple years.Which means Average Citizen needs to get their assets into something tangible.My choice is ammunition,
chainsaws,gardening tools,open pollinated seedsetc
 
I am glad that we have such good, honest, upstanding citizens making all these decisions for us.
 
I read several financial forums and a great many think that the final cost could be well over 1 trillion dollars,maybe even as much as 2 trillion.How much of it will ever be recovered? The sentiment at these forums is strongly against a bail-out.

The average taxpayer should be mad having to bail-out the greed and excesses of Wall Street,Fannie Mae,Freddie Mac,AIG with their huge salaries and fat bonuses based off their cooked books and stupid business practices.! They owe us alot of money back.

All this bail-out is going to do is postpone things for awhile.They say that lots of hedge funds could be next.What are we going to do with the big 3 automakers? Its going to be a wild ride for the next few years.
 
Well, you could say it affects farm financing, which affects farm production, which provides the $$$ to continue the hobby...or you could say it affects farm commodity prices (ditto)...or you could say it affects decisions re" whether or not to make that intended purchase, or which one, if any, of several necessary or pleasurable purchases to make, one or more of which could be of an antique tractor or parts for one...or you could say it doesn"t, really, pertain to antique tractors at all, at least not directly...
 
noncompos pretty well summed it up, I came here off and on since last Thursday and it took some of the discussions that long to move off the first page. I guess you came here and wasted your time reading this because you've read all five other posts?
 
The way this relates to antique tractors is that one of these days they will have taxed us working stiffs to the point that we can no longer afford antique tractors!!! Taxpayers will eventually take it in the shorts for this bail out of legalized criminals.


Gene
 
Well, you're half right.

Raising taxes won't happen anymore under either party, because raising taxes erodes the job security of career politicians. So what WILL happen is that the Fed will have to print up tons of money, and the value of the dollar will sink so low that, like Germany in the 1920's, it'll soon take a wheelbarrow full of cash to buy a loaf of bread.

Which will mean that nobody will be able to afford to play with tractors anymore.
 
I don't mean to keep this going--feel free to email any comments--but it now appears that Paulson wants:
NO oversight, auditing, review of any kind, that NO ONE (courts included) can review...an absolutely free blank check!!
The 700B actually a revolving account: get 700, spend 500, get another 500 to make 700, repeat until country destroyed...
ANY "instruments" can be purchased, not just mtg based...(remember, NO OVERSIGHT)
Foreign firms included now...
Paulson, of course, is ex-Goldman Sachs, which seems to've suddenly become a "Commercial (Retail) Bank", thereby "saved"...
 
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