IHT: Fed to pump another $1 trillion into U.S. economy

_Damian S_

Yeah, that's the problem you guys are having... Over here, we are just having your run of the mill crisis caused by the US and EU financial systems completely turning to crap... :laugh:

Knowledge is knowing that the tomato is a fruit. Wisdom is not putting it in fruit salad!! Booger Mobile - Camp Quality esCarpade 2010

Lost User

Christian Graus wrote:

Perhaps the offer is made to pay out a mortgage only on the basis that the person in question pays back the money before taking out any other mortage, for life ?

But then the debt essentially remains its just transferred from the original issuer of the mortgage to the government and people could still sell the house and take that money overseas. I think the idea of payout peoples mortgages will never work. You've said recently that you no longer have a mortgage. Thats no doubt largely the result of hard work. How would you feel if Joe Bogan down the street who'd only ever made the minimum repayments on his mortgage had his debt paid out free of charge?

Lost User

_Damian S_ wrote:

Not a bad idea - or, people who take up the mortgage payout offer basically assign that portion of their house to the govt, and pay them that percentage of the value of the home when it's sold - eg: if a $100K mortgage on a $400K property, the bailed out mortage holder pays the govt 25$ of the sale price of the home... so if the house later sells for $500K, the govt gets $125K.

That type of finance is currently available. See EFM[^]

_Damian S_

The same way I feel about my hard earned tax dollars being thrown down the toilet by Krudd and his Krew... but if they are going to do it, at least they could do something that may actually help... Although I'd rather they used it for something like FTTN across the country...

Knowledge is knowing that the tomato is a fruit. Wisdom is not putting it in fruit salad!! Booger Mobile - Camp Quality esCarpade 2010

Ilion

Christian Graus wrote:

Hey, I didn't say I agree with the bailout in *any* form, I'm just saying, if they must spend the money, why not give it to the people who are actually hurting ? It sounds like it will get to the point where that would have been cheaper....

There is no magic. Anywhere.

Lost User

You are quite right. I recall Zep's observations on the CDS problem. However, these two links are likely to cause you scratch your head, one of them in some disbelief ... 1. Those ever so secretive 144A equity securities and the damning UCLA Law Review Vol 56 p 409 of 2008[^] Whole report via the download link 2. Top Fannie Mae Executives Each Get $1M Retention Bonuses[^]

Christian Graus

Josh Gray wrote:

How would you feel if Joe Bogan down the street who'd only ever made the minimum repayments on his mortgage had his debt paid out free of charge?

Like I said, I am not in favour of any kind of bailout. I'm just saying, if they *must* spend the money, then they should do it in a way that actually helps the poor. As to how I'd feel, I'd feel like I wish I had kept my mortgage. I'd expect if such a plan was created, there'd be a run of people like me trying to create new mortgages on our homes.

Christian Graus Driven to the arms of OSX by Vista.

Christian Graus

Probably.

Christian Graus Driven to the arms of OSX by Vista.

Lost User

_Damian S_ wrote:

The same way I feel about my hard earned tax dollars being thrown down the toilet by Krudd and his Krew... but if they are going to do it, at least they could do something that may actually help...

Fucking Rudd is a useless little pandering to the ignorant masses qld tool and he didnt even stimulate my package

Christian Graus

WE tried to go out for dinner last night, and everywhere was packed. Donna suddenly realised why. She leans forward and whispers to me, 'Rudd money'. Not that we get any, of course.

Christian Graus Driven to the arms of OSX by Vista.

Lost User

Christian Graus wrote:

everywhere was packed. Donna suddenly realised why. She leans forward and whispers to me, 'Rudd money'.

Well I guess that was the purpose of it. Better people spend it that stick it in super for example but I still fundamentally disagree with what he's done. On another topic you might have heard about his use of the term "shit storm" in an interview. There was an article in the SMH saying that the use of that term had been scripted after much analysis was done with focus groups and marketing type people. What a fabulous way to spend our tax dollar. I miss Johnny

Christian Graus

Josh Gray wrote:

On another topic you might have heard about his use of the term "sh*t storm" in an interview. There was an article in the SMH saying that the use of that term had been scripted after much analysis was done with focus groups and marketing type people. What a fabulous way to spend our tax dollar

Wow - I'd not heard about this at all. That's just pathetic.

Josh Gray wrote:

Better people spend it that stick it in super for example but I still fundamentally disagree with what he's done.

Yeah, I think it's stupid.

Christian Graus Driven to the arms of OSX by Vista.

Oakman

Christian Graus wrote:

So the problem is that the system is not self policing and needs oversight ?

I hate to be speaking for John. I suspect that John C is the only one who catches the nuances of everything he says, but I am pretty sure that is exactly what Zep was saying, from long before the crash.

Jon Smith & Wesson: The original point and click interface

Oakman

_Damian S_ wrote:

Over here, we are just having your run of the mill crisis caused by the US and EU financial systems completely turning to crap

Sure thing. I am positive that not one bank in Oz bought any CDS.

Jon Smith & Wesson: The original point and click interface

Oakman

Richard A. Abbott wrote:

However, these two links are likely to cause you scratch your head, one of them in some disbelief ...

How did you find out I have two heads???

Jon Smith & Wesson: The original point and click interface

Stan Shannon

It never was self-policing, and no one said that it was, or expected it to be. What has happened is that the system has been intentionally undermined by government to create just the fiasco we are now experiencing so that people will accept the state taking direct control of the entire economic engine.

Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.

Christian Graus

*grin* I was more trying to bait Stan. Wait, I feel a bite....

Christian Graus Driven to the arms of OSX by Vista.

Christian Graus

Stan Shannon wrote:

What has happened is that the system has been intentionally undermined by government to create just the fiasco we are now experiencing so that people will accept the state taking direct control of the entire economic engine.

Wait a sec, I need to go and grab some aluminum foil before I can read this fully. You can't be serious, Stan. Your ability to believe in huge conspiracy theories would make a Roswell citizen blush.

Christian Graus Driven to the arms of OSX by Vista.

_Damian S_

Very limited exposure to it, but a great excuse... I was more alluding to the old "the US sneezes, the world catches a cold" scenario.

Knowledge is knowing that the tomato is a fruit. Wisdom is not putting it in fruit salad!! Booger Mobile - Camp Quality esCarpade 2010

Oakman

_Damian S_ wrote:

I was more alluding to the old "the US sneezes, the world catches a cold" scenario.

What I find quite interesting is that every country on the planet achieved their own prosperity without any impetus from the U.S. economy (especially France) but that without exception they all started failing as soon as the American economic engine began to stall out.

Jon Smith & Wesson: The original point and click interface