Yes Chap, and that’s another thing. They’re printing the money as fast as they can to pump up that stock market aren’t they? And that is going to increase inflation drastically, and lower the value of the dollar. So not only are my taxes paying for this bailout, but I’m effectively going to be getting a pay cut before this is all said and done aren’t I?
Biden invokes partiotism to sell class warfare
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Yes Chap, and that’s another thing. They’re printing the money as fast as they can to pump up that stock market aren’t they? And that is going to increase inflation drastically, and lower the value of the dollar. So not only are my taxes paying for this bailout, but I’m effectively going to be getting a pay cut before this is all said and done aren’t I?
that was my impression.
My taxes would definitely go up substantially under McCain's plan and perhaps when I become a VP making beaucoup dough, I'll have a hire rate, but I'm not there yet.
Yup. Thus the advice I've been giving for four years at least. Buy gold, protect yourself against inflation.
Topspin
Verified User
where am i whining? all i said is i totally disagree that paying taxes is patriotic.
i said all along i am voting for obama even tho hes worse for me from a personal tax position.. You can only hope enough of the chapdogs of the world are thinking bigger picture and not just bottom line in next years 1040 form.
here is your man:
GREEN BAY, Wisc. (AP) - John McCain says the Federal Reserve needs to stop bailing out failed financial institutions.
Addressing a business group in Wisconsin, the Republican presidential hopeful said the Fed should get back to what he called "its core business of responsibly managing our money supply and inflation."
The Fed engineered an $85 billion takeover of insurance giant AIG this week, one of a series of failures of major financial companies that have rocked Wall Street. The government seized control of housing giants Freddie Mac and Fannie Mae earlier this month.
The Arizona senator reiterated his call to fire S-E-C chairman Chris Cox, saying there needed to be greater accountability in Washington.
Give him 10 minutes, he'll change his mind. He's just flailing about until he lands on something that sticks. Except, of course, he'll still be calling on firing Cox even though the president has no authority to do so. That's just how mavericky he is.
Well, I actually believed we had to do the bailout before I started reading your posts and then remembered I'm bailing out Top too. I mean, you know...at some point I can be pushed into a "fuck them all" mindset, liberal as I am.
Funny thing, I just got an email from my brother. A right wing prick, who I don't always, or even usually get along with. Trust me when i tell you he's way more succesful than either you or Top...and even though we don't get along much, I guess he figured I'm still his sister...he told me, "smart people are selling out of this bullshit rally, don't fall for it".
It kinda reminded me of one of Top's "the hi iq people are" posts. Well, I did mention that my brother is a right wing prick, so...
But...he's really smart about the markets. And he's out. He's in gold. He's not going back in. So, not everyone agrees Chap. Let's see.
Your right we will see. Personally i invest long term. For money im using in short order like the 18grand i have to buy my next car I would never put in the stock market... that money sits in a money market or something. When i say long term im talking like 30years. Sure i go in and out of things over the years and re-balance my portfolio or act on tips but I would not at this point of my life pull all my money out of the market and buy gold.
uscitizen
Villified User
dollar will drop more and oil prices will rise.
of course those who get millions being bailed out on our credit won't worry about the price of gas.
also possibly more will switch from the dollar to the Euro for Oil
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Chap, the government had to guarantee the money markets today.
Anyway, whatever. I had a couple of stocks, one of which took a frigging dive earlier this year, and I waited patiently, as soon as it hit within a couple of dollars of what I paid, I sold it. I don’t want anything to do with this market, and while it’s true I haven’t made money off of it, it will never ruin me either.
I think the rally is temporary, but I hope not. I’d hate to have my tax dollars taken from helping poor people pay for their heating oil this winter, and given to you and Top, and end up with an epic crash anyway. But…the underlying conditions are dire. Will a trillion dollars thrown at that fix it permanently, or is it a band-aid? I don’t think anyone knows for sure.
End result it, all things considered I think it is inappropriate, if not outright obscene, for anyone in your position to be complaining about taxes right now. If people didn't pay taxes Chap, you'd be ruined right now. You'd have lost everything, and be out of a job. You're the perfect example of a person benefitting more than average from living in this country. So pay your share and suck it up. There's no need for us to hear about it.
Your being mellow dramatic. This is nothing more then what we did during savings and loans.. And we recovered from that with massive inflation of 80's.. (what you will see next), a correction in late 80's.. then biggest bull market in history.
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Can you just attempt to say where you would be without this bailout?
I can tell you where I'd be ok?
At my medium-paid managment position for a government funded non-profit organization.
i would be right where i am now. and i didnt sell on the down, i used what dry powder i had left and purchased more... i would just weather the storm.. as i illuded to i have a long time with that money.
In terms of my job I have over 10years of experience that is pretty ranged over a few different industries and the gambit of roles as an analyst. A Finance degree BSBA and an MBA, not to mention other qualifications. Additionally im a work horse and always in every role become a go to guy. im In a department of about 40 now and I wouldn't lose sleep as a layoff target till about 20 deep at this moment.
I can find a job within a month in pretty much any city in the country.
Not being arrogant here. I planned from the beginning to make myself an easy sell by getting the right qualifications and hand picking roles that fit that goal.
So to answer your question. I would be right where i am now without the govt bail out. So ill ask you again. How am i benefiting more then the average guy with this bailout?
I honestly don't think you have the full grasp of what could have, and actually, was, happening Chap.