Well, it looks like the 700 billion dollar bailout turned out to be a bust as of yesterday. Its almost funny how the House doesn’t pass the bill, and as soon as the vote is over, all the politicians are the first to point the finger at each other with blame. I do believe that the government does need to play a role with a bailout of some sort. I’m not sure whether Paulson’s bill was the right one, but I don’t know if anyone really knows the answer to that. I do believe that panic will only hurt an already chaotic situation. I’m not saying to have blind faith about your financial situation, but there’s always opportunities and safeguards that you can choose when managing your assets. Here’s a quick article about not panicking that tries to put the our situation in perspective. I’m sure with a little more research and maybe some googling can supply all of you with a little more piece of mind. On top of that, I think we all just have to hope for the best.
20 comments ↓
I am sorry but I think something eles is up. It should not of happened that fast after the vote. The biggest crash ever. Politicians have always pointed the finger at someone else that is nothing new. Everyone else is to blame. The politicians are the biggest snakes in the grass. They wonder where the money is going but they are the ones spending it for their own use. Turn around and lie where it is at. Something everyone needs to know any time you traded or join the market you are taking a 50/50 chance to make or lose money. It is not always the safe way to make money. You can have all the safe gaurds you want but you are the one that has to watch your money like a hawk and not trust that it would be ok. I am on my trade accounts all the time. I don’t leave it up to anyone but myself.
Why are we even here again?
I find it funny that people (especially politicians) speak on the past and how it has influenced the future. If the past was so relevant in molding the future then why are we having another depression? They won’t come right out and say that’s what it is, but is there any other name for it?
This is the result of the ignorance of greed and unnecessary spending. The result of not allowing for the incorporation of politics and ideologies from other countries or cultures to influence ours. We spend so much time focusing on others, and didn’t put enough effort into making sure all areas are covered. I find it funny that we are even in this position, again. Then again Tiffany may be right, there is a bigger picture. Maybe in 2009 we’ll finally meet the Amero (or American Euro).
I don’t particularly think that something “else” is up… although I have never been all that trusting an individual. I think that plenty has been going on right underneath our noses for quite awhile now. I just think that all of the thousand, or more, aspects of this problem have matured at roughly the same period and we are reaping the “benefits” of this colossal financial goulash.
In the case of the housing fiasco, the housing market has been playing fast and loose for far too long and taking advantage of the public at large and the current mindset of a large number of today’s individual. It was bound to catch up to us all… it’s a damn shame that they were allowed to operate so irresponsibly for so long and they were allowed to do so by the people that didn’t read their contracts and understand their terms, jumped at credit that was offered to them and didn’t refuse to pay $130,000 for a cottage that was only worth $60,000 before this “great housing boom” (I’m still disgusted, is it obvious?)… not the government. I always regret that any further government involvement into our lives may ever be necessary… and I don’t believe the government should bail out the companies… I believe it should bail out the families of this country… and not just bail them out but educate the people on how this happened in the first place. There will always be other companies to spring forth to take the place of the fallen ones… hopefully more ethical or responsible ones.
As for the stock market, one of the first pieces of advice I heard was that in the case of flucuation, to not jump into action too quickly… that most stocks recuperate. I don’t know how I feel about that, myself… it is all a big luck thing, right? I don’t believe in luck. It seems to me that alot of stocks are still recuperating from flucuations that happened a handful of years ago… but it WAS happening. If everyone pulls out or tries to liquidate all at one time, then recuperation is impossible and will push too many companies past the breaking point at a crucial time.
And, I would like to point out, on behalf of banks, that no lending or financial institution is set up to be able to pay out everyone’s dollar on any given day… or any similarly short-term basis. If your funds are federally insured, then surely it wouldn’t hurt anything to sit back a bit and play things out rather than add to the crisis.
I agree with you, Sung… about watching the pandemonium of everyone pointing at everyone else… although I am alternately amused and disgusted. Maybe if all those politicians involved had an alternative plan or idea ready to submit instead of a finger (and I mean ANY finger) then maybe we would be closer to a solution. I haven’t looked at that link you provided yet, but I think I will.
I do agree that we give far too much to other countries and don’t look to our own enough… that there is far too much unnecessary spending in our government… and that we, individually, must take more responsibility in watching our assets.
Good posts.
wow hugh comments from everyone
*shrug*
what will be will be
I have no money and no investments and so far NZ banks have been relatively secure (this is not smugness, I just don’t see the point of panicking).
It’s funny because I initially laughed at the outcome, and then I thought about it…. It’s scary right now, because there is no clear solution. I was thinking that maybe the should suspend all the lotto money to help with that situation. But 700 billion is A LOT of money.
There has to be some sort of copromise. All these politicans and they can’t come to some sort of agreement.
My parents have investments and they’re afraid to see what the damage is. And I have no idea what the future holds for America, but it doesn’t look good.
I’m seriously thinking of relocating to another country…maybe NZ, my sister moved there years ago.
It’s funny because I initially laughed at the outcome, and then I thought about it…. It’s scary right now, because there is no clear solution. I was thinking that maybe the should suspend all the lotto money to help with that situation. But 700 billion is A LOT of money.
There has to be some sort of compromise. All these politicans and they can’t come to some sort of agreement.
My parents have investments and they’re afraid to see what the damage is. And I have no idea what the future holds for America, but it doesn’t look good.
I’m seriously thinking of relocating to another country…maybe NZ, my sister moved there years ago.
double post…. Thanks iPhone :/
Teresa, the government will never bail out families instead of companies because their is no money in it. They are look at what will help them and how to make money for themself. If they help out companies they get some kind of kick backs towards themselfs. With families they don’t. They want to keep the rich, rich and the poor, poor. Think about this if nothing is up, then why is money they say we don’t have always just come to light. The government is hiding money there is no question on that. Also if your funds are federally insured that don’t mean a thing. They have nothing to lose, the people do. When someone has nothing to lose that is who you need to really watch. Wake up one morning and it gone and it would not hurt them one bit. I do agree with you about us helping out other countries more then us. They are to busy helping other countries when we have so many promblems here that needs handle. There are people here that do need help or even pushing adoption of childern in other countries, when there are childern here that need adopted. I am Adopted so I know how it works. About people getting more educate rates want up and alot of grants are no longer. They cut back on grants for schools. The government took that money and put it somewhere else. It is almost like they want to keep the country dum.
Whew, Tiffany…
I can’t refute most of what you wrote… nor do I want to. I don’t have any facts for or against your beliefs. I have no wish to enter into a battle of ideals or ideas… for obvious reasons that is a no-win debate. I’m sure you have your reasons for believing as you do… just as I do.
For the sake of a different viewpoint: I can say, from first hand experience, that the government does take care of great numbers of its individuals… if you know how to go about getting this action focused your way. Granted, this is not always easy. I have been declared “disabled” this year. I was blessed in several ways in that it did not take me years and a law firm and several tries. The “government” did their analysis of my situation, I had a professional evaluation done by them, and they awarded based on their findings and the findings of my several doctors and their files that spanned the last 2 decades. There is “no money in it” for the government to find me disabled and support me… and yet, they have and do, to my relief and gratitude. I am proof the government does do something to look after its citizens. If you know where to look, there are countless programs and services for any faction of needy people… and none of them are secrets… although they may not be all that easy to find out about.
I also worked for 13 years, prior to this disability finding, for a public housing entity that received a few million dollars each year in grants from our government to house low-income people and welfare recipients and to upkeep this housing and make it better for its occupants. Using these government funds, my department built several very nice housing structures for the elderly and for low-income recipients and we also kept the older structures in good repair. It is also a fact that over the years the amounts awarded have been declining and I couldn’t tell you what the last year has been like in public housing since I left… but I know all of that information is public knowledge.
Do I think there are things that go on that are not so great or are dark in nature? How can there not be? Such things go on wherever there are humans… it is a sad fact that many humans are of questionable moral fiber… people like this feel they have something to gain or think they are owed and think they can get away with what they do… but not everyone or every organization is like that or is guilty of such things. Whenever I am faced with proof that such things go on, I have to figure that it is a part of our reality based on human nature but that one more instance has been stopped.
I agree that some large entities do attempt to keep their congregations “dummied” down… this has been proven out in history as with the Catholic Church, centuries ago, keeping the Bible out of the hands of “common” worshippers. Catholic leaders controlled every bit of knowledge and, therefore, power. I’m only stating that one example to illustrate… don’t make me work too hard here. Has this been done today? I have no doubt… do I have specifics? No and until I do, I’m not going to put much thought into it.
I am adopted as well and was in the foster care system for a time… I can attest to actual sins against myself and to the mismanagement of the foster care system and child protective services… but as all of these things happened 3.5 decades ago, I can only hope that alot of improvements and corrections have been made.
All of this is just a different viewpoint… very different if you take into account the person holding it. =)
Peace.
I think the government will never leave to the families instead of companies because the deles/delas is not any money in this. They want to maintain the rich, rich and the poor, poor. Today I saw in the newspaper deles/delas will have a meeting to solve if they will accept the package of “help” U $$7 billion, hopefully that it accepts to help the banks.
Keep this in mind not everyone is disable. If the government is taking that good care of you, then why are they working on changing it so you would get less or nothing. My son gets ssi. My son has autism, I am in the ssi office all the time. They have new up dates on what is happening. Ssi is running out of money and that is nothing new. They broadcasted it 5 years ago and still are saying the same thing. You get nothing. Remember that you are not going to get it for a long term. Don’t forget Bush tried to privatize ssi, which means if that would of pasted you would not be getting it right now. So how is the government helping. Also they are cutting most of the promgrams that help people, they think it is a waste of money. The feds no longer give grant money to the salvation army or urban league. The government for the last 2 years have been pulling out(feds). All states are in charge of their own programs now and if the don’t have money(the states) you are not getting anything (help). See I do keep up. By the time I would need ssi there will be no ssi. So how is that taking care of the people. Most of the promgrams don’t have anymore funding, the feds cut it and what they will give to people. They take care of you now but wait a couple of years when your money is cut or get cut off. Also if you did not know housing is getting cut to in all states. See the feds stop giving grants for housing. In all states have to come up with the money now. The feds no longer help with the grants for housing it is all your state. Why do you think housing in most of the states is on freeze. No funding. The feds stop giving grants for housing in Feb. 2006. It is all up to your state to fund housing now and if your state don’t have money no housing. You worked for housing so you should of know that. Ok then why did the government sell the housing prop. in new orleans to donald trump to build hotels on. That housing is gone to a rich man. All those people are out now, which makes less housing now in new orleans So if the government cared about people they would not of done that. Donald Trump bought up half of new orleans. Used the hurricane to snake people out their lands. The government approved it. Right they help people cause if they help people they would not of let that happen. People are forgetting yes there is promgrams but alot of them are on freeze no funding. Welfare is getting cut to. They rised welfare then turned around and cut it again, double. So how is that help. By the end of 2009 welfare is getting cut again. You know you can only get welfare for 5 years. Soon as you hit that 5 years you are cut and never can get welfare again in your life time. So how is that help. All these programs you are talking about, if they had money then why all the murders. People killing each for 50 cents. Where I live there is up to over 50 murders a day here in day light in front of cops. The men are killng each. So far no women or childern but its bad. There is no housing left. Our help programs on freeze. Welfare here, you only get 50 dollars every two weeks per person (100 dollars month). Foster care here has no change it has gotten worse. More kids then homes. I was one of the lucky ones. Adopted at 4. Now a days if you ask a child if they know the bible, they cant answer. They are not being told or teach about the bible or GOD. This is just what I see everyday. Also I know everyone has their own veiwpoint. I like hearing others veiwpoint and what they see. I am glad you have your own mind and veiws. It is very inportant for everyone to have there own veiws. I am a very open person to others. I also have to keep in mind I’m from pittsburgh and they almost filled bankrupt at lease 15 different times in the last 5 years so what does that say.
they didn’t pass that bill because 80% of them don’t even understand it. They’re idiots. If people who barely passed college can become the president then I’m sure we’ve got like super-super senior college graduates in there too. Oh the humanity!
On another note, I saw Sung Kang on Knight Rider tonight. I endured watching that horrible show to see two korean dudes get punked at the end. BOOO!
wow! thats alot of comments; darn what should i say. well the first thing is i know that my mother only owns one small share of stock, she dosen’t worry about it tough. I get why people are starting to panic but ya don’t have to worry about me panicking sung, ok.
Ah… where to start…
As of last year, my housing authority, for year 2007 still received their grant… from Federal funds. It was cut by 10% of the previous year but they had been doing that every year for about 6 years… so no biggee.
Welfare, if I may simplify, was only meant to be temporary for any one recipient. It is for people who are qualified to work but need temporary assistance. It was never meant to be doled out to the recipient long-term… only to help them get back on their feet.
I am not on SSI. There are 2 funds for disability. SSI is the supplemental disability… I did not qualify for that one… I qualified for the main one.
I have too much to deal with on a daily basis to worry about things that are not directly in front of me today… and I have no interest in worrying about things that may or may not take place. I will take one day at a time and I will deal with it as it comes. That is my S.O.P. and I have to say that, while it isn’t perfect, it works for me.
Alot can happen in a day… and there are people working hard on each problem that we currently face… and while they may be working for their own good, on some of those problems, it will be for our good as well. Their country is our country.
What is today’s outlook may not be tomorrow’s… and tomorrow is something I don’t see yet. People are problematic but I judge everyone on what I experience from them. Don’t count on their failure… on our failure. Keep some hope… or help someone else keep some.
I don’t plan to comment further on this topic here… although if anyone wants to, they can visit me on my own site.
Peace.
*waves to Sung* =)
Since you think you are right. I will vist your web site and in two days you will get the info to prove that I’m right about feds pulling out. See you already have housing. If you don’t have it and try to get it. you are not going to. People from hurricane k get the fed money now. Feds gave it to them instead of housing in states. Do your research. Iwill send you all the right facts and it was not writen by me but the feds post.
Ok… send me what you want… I know where I can go to read it for myself in black and white and I encourage everyone else to do so as well. It was really my oversight that I didn’t post this address before. I will correct that now… with this ADDITIONAL post. *sigh* It is true that we should be given bad news when warranted… but we should also have access to any good or hopeful news as well. I did read a handful of recent news items via google and I didn’t see one that proposed the cutting of HUD’s proposal for 2009 that I will discuss here…
This is the link for the Department of Housing and Urban Development’s proposed budget request for Fiscal Year 2009… it will show you that the Nation’s Section 8 assistance, public housing and other types of housing assistance has not been cut and, in fact, is being planned for the future. The proposed budget request is actually for MILLIONS above what last years funding was.
“www.hud.gov/about/budget/fy09/fy09budget.pdf”
The FY 2009 Budget request allows HUD to:
• Expand our efforts to increase the number of Americans who can own and keep their home;
• Sustain rental subsidies to nearly 4.8 million low-income families;
• Continue to revitalize distressed communities; and
• Provide care and shelter for the most vulnerable among us.
HUD’s FY 2009 Budget request includes increased funding to support housing choice vouchers, project-based Section 8 housing, homeless assistance programs, vouchers for homeless veterans, housing counseling, Public Housing Agencies, and affordable housing programs such as the HOME Investment Partnerships Program.
Anyone with questions can also go to the main site “www.hud.gov” with ANY questions about whatever kind of housing funding they can imagine in any state and any city. This site also has comprehensive and official plans for HUD’s strategy and goals. It also includes news articles, press releases and any official government releases pertaining to these areas. I did see news releases there stating that emergency funds were to be given to disaster areas from recent hurricanes…. but they are not cutting the federal programs to do it… they are giving States leeway to allocate the State’s funds as they will… the Federal funding and programs are still there.
Maybe one or two, maybe a dozen housing funds have been cut, but maybe you don’t realize just how many housing grants or funds are out there. I know I’m not going to count them. My housing authority was for only ONE city in Virginia, and it was one of the best and highest producing authorities in the Nation… but there are thousands out there, each city has its own… some are in trouble… some do falter… but the fate of one city’s housing is by no means the fate of all. Also, each housing authority is its own entity… funded and regulated by Feds but not a Federal agency. It is up to each city to formulate their own authority and request those funds.
As I said before… anyone with continuing questions or issues with what I’ve discussed here should probably contact me at my site.
Thank you for your patience.
SUNG! Why didn’t you tell us that you were in Knight Rider the other night?! I caught the whole episode at NBC’s site. So many of the networks post whole episodes now. Tell imdb that they really dropped the ball on keeping us up to date about your projects. =)
Thank you, DUMBO, for mentioning it and bringing it to my attention. Your comment about the Asian dudes being punked was what really got my attention… but they were bad dudes! =)
Nicky Mac… you made me laugh about that double posting message. ‘Thanks iPhone’… lol.
You don’t have to post your address. All someone has to do is click on your name and it will come up. Everyone that has a line under their name you can go to their site and address. It means your site is Public or also a friend to sung kang on his MYSPACE page. It carries over to the page. Unless you put in you don’t want it to. So you don’t have to say your address. Just a click to your name. Way you ask people to do it now, but change up. I’ll prove that to you I’ll send you a nice little note.
Make sure people know this if they go under the web site that it will pull up for your state or theirs. Don’t forget every time you log in it knows what state unless you ask for others. Their is a different web site that with give you the whole country out look.
Numder two I said in 2006 the funds were cut. That has nothing to do with the new hurricane. I said hurricane K (katerina). When that one hit it cause a major debt to the country and they are still coming up from it. The feds gave all the feds funding for section 8 and housing to them. Pittsburgh was one of the states that had to pull the money for them and all other asstances that where needed. There alot of other states that had to. We are busy housing them in our state. Pittsburgh came forward to help the ones in need. We still have alot of them here. Don’t forget Your state turn down the aid and only give a pinch of help. Pittsburgh we want all out to help. We housed them, cloth them, feed them, and ex. We are just one of the states that help. The feds ask every state. Some said no because it would put their state in debt. Yours was one of them. That would not give up housing to them. Your fed grants for housing. We no longer have section 8 here. Because our state gave to the ones in need, that lost everything. So there is something postive that Pittsburgh has done. The new hurricane Pittsburgh also gave out money to help again. Lose section 8 or help others. My state helped. That is way in your state housing is fine. The states that all helped out is short on housing to. So rememder we house hurricane viticums in my state and take good care of them here. We also have the youngest leader in history here ever in all states. Youngest ever and he helps out other states more then the old guys in other states. What does that say.
By the way you double back on some things you say. So which is it. One post it’s one thing and the next different. Did you work for housing, but now you live in housing?????????????? Keep your story right. Mine is all facts. Not what I think. There is proof behind mine. When you change up people and I think you are lieing. I just happen to pick up on that.
Well I am going to send you a nice comment to you. Then I am done because I do have a life. I have a big party to do. To show off my 13 day old twin girls to family and friends. That I just had.
Oh by the way the web site you posted is a bust. That also proved my point. On that web site if you read it. It talked about over 1 million Hud homes are being foreclosured. They removed the section 8 part. Wonder way. On all web sites they are removing section 8. If it is sill there it read No longer taking any apps. Try this web site it is more helpful. www.hacp.org.
Forgot the thing you are talking about is people that losed their home to foreclosure others can buy their foreclosed home at a cheaper price then what they payed. That is not Hud housing or section 8. It is buying what people lost for no payment. Big difference. That is the two things that web site is about.
Far out what long comments. Has anyone (with money still) considered that NOW is the perfect time to go SHOPPING for shares, whilst there are so many bargains to go around. Hmm insightful trading is what I call it as dfd the late Rene rivkin. oh and every BOOM will go BUST.
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