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10-01-2008, 01:23 PM #7711
- Join Date: Aug 2007
- Location: New York, United States
- Age: 36
- Posts: 10,005
- Rep Power: 24243
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10-01-2008, 01:29 PM #7712
long term doesnt look too good, but something needs to be done now. if its rejected and left then looking long term wont be an option, there will be greater issues faced.
does your family have credit cards and mortgage payments? then i gladly hope a no comes out tonight. Id like to see you go up to your parents and say yeah i voted no, im glad a no was given. If they dont, say it to the rest of them and that will be god damn lot.
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10-01-2008, 01:35 PM #7713
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10-01-2008, 01:51 PM #7714
I posted this type of response on another forum the other day.
The effects of the bailout being denied will be felt more by those with over leveraged mortgages, credit card debt and poor credit scores. In other words those that live like there is no tomorrow, may finally have no tomorrow financially. Live within your means and you're gonna be just fine.
And onto another touchy topic. Retired folks and near retired folks whine that they have "lost" loads of money. So WTF did they have that much of their portfolio/nest egg out there to be lost? As you age you trim your risky investments down so you have a secure future. If they let greed get ahold of them like many did back in Y2K that's not the middle class/tax payers fault and it's not our issue to fix. Everybody wants to be able to have big rewards but then can't accept that high risk was involved as part of the equation.
Keep YOUR eyes on YOUR prize!
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10-01-2008, 01:57 PM #7715
lol well then you shouldnt feel the full brunt then. Count yourself lucky you own your house outright and have no debts, the majority wont. thats who will feel the force of a no. but i have said the rich will survive and the poor will get poorer.
live within your means, yes good advice. although are you forgetting about 401ks. How many americans have one, a vast amount. they are affected by the stock market. 401ks are used as a retirement.
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10-01-2008, 01:57 PM #7716
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10-01-2008, 02:04 PM #7717
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10-01-2008, 02:04 PM #7718
Riiight....
a fuking tard with a tattoo who's preaching to dumbasses on a bodybuilding board
first of all, how much does your dumbass think Buffet will benefit personally from this. he has already pledged to give nearly all of his money away and you think this man has other greedy motives. Go to any group of real investors and tell them that you think Mr. Buffet is trying to benefit himself by letting this bill pass. I assure you NO ONE will take you seriously. The audacity of a little **** on a bodybuilding forum to accuse Mr. Buffet. That's seriously fuking hilarious.
and why don't you read a little about Hank Paulson. The man has been praised as a man of integrity for a very long time. His reputation since he was at Goldman is known THROUGOUT the world. Do you know how fuking funny it is for someone with a full back tattoo to be accusing two of the most respectable men in finance?
explain why the bill SHOULD pass? if you have to ask this, then you probably shouldn't give ANYONE investment advice.
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10-01-2008, 02:13 PM #7719
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Hey genius, looks like you honestly believe that the bill is supposed to save rich people and only rich people who have lost money in the housing market so here's a little info for you.
First of all, the bill is not to benefit people personally. Of course some people will benefit more than others, but the ultimate objective is to stop the financial industry from completely collapsing.
If the financial system collapses it spills into every other industry. Even now businesses have a hard time getting loans to fund projects or pay for day to day operating expenses. The financial industry supplies all this money. If the financial industry goes under then businesses won't have money to pay for projects or day to day operating expenses, do you know what that mean? It means that the economy will come to a halt.
Not only that people are worried that they will lose money in their banks not knowing that their deposits are insured up to 100k (maybe 250k soon). If people take their money from banks that will further make funding scarce.
I mean, do you even read the news? How can you sit there acting like a investment guru when you don't even understand the implications of the financial crisis?
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10-01-2008, 02:18 PM #7720
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10-01-2008, 02:23 PM #7721
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10-01-2008, 02:26 PM #7722
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10-01-2008, 02:27 PM #7723
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10-01-2008, 02:28 PM #7724
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10-01-2008, 02:30 PM #7725
V8 put his stash on the line for SKF
thats why he's being silly
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10-01-2008, 02:31 PM #7726
- Join Date: Feb 2007
- Location: the best h20, comes from, Fiji
- Posts: 45,692
- Rep Power: 486579
Hey, Chicken Little. The sky is not falling.
What is happening is that people who really have no business having access to credit (because they can't pay it back) are getting shut down. Yes, initially, some credit worthy applicants are also getting shut down, but this will correct itself.
People (including banks) got greedy and purchased and lent more than they should have and over extended themselves. This current financial "crisis" is little more than a stiff reality check.
A bailout, rescue, or whatever you want to call it amounts to putting the head in the sand and carrying on business as usual - lending to risky debtors. Until the next "crisis" and then what - a trillion dollar plus bailout?
You can't build on a house of cards indefinitely. Eventually it will collapse to the sturdier foundation. Any attempts to shore it up that are not fundamentally sound will simply result in a much bigger collapse later.It's hard to win an argument with a smart person. It's damn near impossible to win an argument with a stupid person. - Bill Murray
Mods - my avatar is locked by the admin and can't be changed.
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10-01-2008, 02:35 PM #7727
lol. its obviously rubbed off on him though. sound business adivce coming through his posts.
lmfao free markets. i say no to the bill, lets give the banks a chance to fail for we dont need banks and their bad debt do we? lmfao. yes bad implications from a yes and a no. but a no would be far worse off.
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10-01-2008, 02:38 PM #7728
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10-01-2008, 02:39 PM #7729
What are ways to short the US dollar? I see the ETF UDN...but it doesn't seem to move much. Is there any ultrashorts on the dollar?
I don't have a forex account, only a simple scottrade account (no options, yet...)
what is a good way to short the dollar besides UDN?I go to Appalachian State University
Ron Paul 08! I BELIEVE!!
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10-01-2008, 02:44 PM #7730
i think the best advice you gave was under your username. read > post. maybe you should. you've just expanded on what he said. ? we know it wont solve everything. Tomorrow we arent going to wake up and go, oh wow a bail out, what credit crunch? what finiancial crisis?
there will always be a 'crisis' at points in our lives. the government was forced to act because it was backed into making a decision. hes saying explaining the implications if a no was to be given. your just repeating what the causes were. we know that.
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10-01-2008, 02:49 PM #7731
Negged...get a life. You're clearly blind to the reality of wall street and how profit makes things happen.
It's comical that you think anyone with wealth is looking out for the little guy. Retard.
I love how my tattoos are used as negative stigma...shows your ability to remain non-biased.
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10-01-2008, 02:49 PM #7732
- Join Date: Feb 2007
- Location: the best h20, comes from, Fiji
- Posts: 45,692
- Rep Power: 486579
Meh....going back to lurk mode.
This thread has been steadily going down in quality for some months now.
Naps doesn't even post anymore and mike on a limited basis.
Well, I'm not concerned about the bailout package. If it doesn't pass, and the whole civilized world collapses, I still know how to make fire without matches.It's hard to win an argument with a smart person. It's damn near impossible to win an argument with a stupid person. - Bill Murray
Mods - my avatar is locked by the admin and can't be changed.
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10-01-2008, 02:51 PM #7733
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10-01-2008, 02:53 PM #7734
no ive never said that. read my posts. Ive said the people who got the US (and other countries) into this situation should be brought out and shamed and made to pay. but doing that wont solve the problem as a whole.
yes you should be angry at having to pick up the mess of these people. yes they have brought it to this. but for gods sake look at the problem other then your own pocket and 'pride' because thats what it is in your posts.
the fact you want a no and to let banks fail is completely moronic, incredibly short sighted and not feasible. some part of me wants a no just to show you the implications and the fact it will become far worse. but i know it wont and hope not either. the point being raised here is the fact that your ignorance of the situation just shows how you've lost so much money in this thread.
as ive said i will post tomorrow, own up and hang my head in shame if im wrong, but i know im not.
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10-01-2008, 02:53 PM #7735
Don't forget when the bulk of baby boomers begin pulling from and/or closing out their 401k's we will see a bigger impact potentially than this subprime mess even. Also if you only invest in 401k and don't hedge with any precious metals or other tangible items you deserve what you get. People need to be multi pronged and not count on the US government as a airbag.
I'm done with this thread for good...too many ****in idiots here. The non idiots are welcome on my site, you know where to find me and you know who I mean by "non idiots".
So many pussies here that can't think for themselves. They think because "news said" this or "news said" that the bailout needs to pass. Wake the fcuk up and cut the cord, you don't need the TV to apply logic.
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10-01-2008, 02:57 PM #7736
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10-01-2008, 02:57 PM #7737
That is exactly correct! That is why the bailout bill is totally flawed. Any bailout should impose penalty and extract a heavy price on the shareholders, bondholders and management.
The Paulson bailout basically privatise profits but socialize losses. When the businesses generate profits, the profits go to the shareholders and bondholders and the management. But when the businesses generate losses, Paulson wants the losses to be unloaded onto the taxpayers. Paulson wants the taxpayers to pay up to take the investement that has gone bad, OFF the companies.
That is just plain wrong. If the taxpayers are to take a share of the losses, then the taxpayers should also get a share of the profits!
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10-01-2008, 03:00 PM #7738
ok... thats what caused the housing crisis. and because of that, now businesses are having a hard time getting loans. BUSINESSES, not people "who have no business having access to credit."
LULZ
Wow thats a bunch of jibberish and your opinion with absolutely zero facts. What point were you exactly trying to make with such a post?
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I dont think there are many other ways than a few ETFs to short the dollar. Currency is always a relative value. What do you want to short the dollar against? The sterling or the Euro? Best way to do this is through Forex. And you probably shouldn't just jump right into Forex trading if you have no experience. Read a couple books and try out simulation accounts first.
Bravo!
Still doesn't change a thing about how stupid you made yourself look by accusing two of the most highly respected people in finance.
good thinkingLast edited by Yodsanklai; 10-01-2008 at 03:02 PM.
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10-01-2008, 03:02 PM #7739
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10-01-2008, 03:05 PM #7740
funny how president bush has just said we need to pass this legisaltion to save our citizens and so they do not lose their wealth and work. nice to know how so many in this thread dont seem to care beyond their own pockets.
im out, this thread has been entertaining so far. if a no happens, i will post here and admit my misguided opinions. i will not post from there on. do wat you want, neg or watever everyone does on these forums these days. i will openly admit i was wrong. but just watch the chaos ensue.
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