Stocks

[MrsDM]

I'm not a huge economic person, but I can't believe how much the stocks went down after the House rejected the bailout plan. As of right now, the Dow is down to -693

This is the worst percentage loss in more than 6 years!

[lalaland13]

Yeah, it's a bummer. Without getting too political, I think some sort of bailout does need to go through, as much as I hate to see it, because Wall Street is freaking out and there's a big domino effect. Maybe just put through enough funds to get through Jan. 20, and then whoever is president can make that one of the priorities of their administration?

I have a 401(k) at work, and while I doubt there's much in it since I haven't had it long, I'm afraid to even look at the statement.

There are times when I want to get out of dodge and go somewhere else, but until the economy stabilizes, probably not the best idea. There are other reasons why it would be prudent to wait, but I have a chronic case of wanderlust. But I'm in an industry that's been in a recession for a while now, so oh boy.

[Nekochanpurr]

The sad part though.. If we did go through with the bailout.. It just puts a band-aid on the whole thing.. Which means we are going to push it off for later.. It'll come back to haunt us. :( Its going to really suck.. But i'd rather we just get it over with..

[kgvettegirl]

one of the guys on the other forum I seem to spend alot of time on posted this I think it is a good idea alot better than what the idiots in congress came up with.


Are you as pi$$ed off as I am :banghead: :banghead:

I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in a…..

‘We Deserve It Dividend’.

To make the math simple, let's assume there are 200,000,000 bona fide
U.S Citizens 18+ years old.

Our population is about 301,000,000 +/- counting every man, woman and child.

So 200,000,000 might be a fair stab at adults 18 and up.
So divide 200 million adults - 18+ into $85 billon - that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a ‘We Deserve It Dividend’.

Of course, it would NOT be tax free…..
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife team has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who
lost their jobs at Lehman Brothers and every other company that is cutting
back.

And, of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it.... instead of trickling

out a puny $1000.00 economic incentive that is being proposed by one of

our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S

Citizen 18+!

As for AIG - liquidate it! Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work".
But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
‘We Deserve It Dividend’’ more than I trust the geniuses at AIG or in

Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because

$25.5 Billion is returned instantly in taxes to Uncle Sam.

BTW, who's side of the family is he on.

WOW, I thought all the crooks were in jail, seems their just getting richer.

Ahhh.... I feel so much better getting that off my chest.

[Ninedays9]

This looked like a great idea to me... until I had my fiance read it. He says it only amounts to $425, instead of $425,000 per person.

[Ninedays9]

This whole thing sounds like it's going to be just lovely for me... a new graduate student who needs loans to pay for classes. I've been having trouble already with it... I was approved for a certain amount in loans, and I started applying for them. I can't get into the page for loan counselling and to pick a lender because it says its timed out. I've been calling, getting busy signals and incorrect answers when they do answer... and now with this whole economy deal, I'm afraid I may not even find a lender! So now this is added on to the 82 million things I'm stressing out over. Great. If anyone has any reassurance to offer me on this, I would greatly appreciate it 'cause I'm really not sure what to think right now... even though Eddie still says to not worry about it (yet).

[MrsDM]

This whole thing sounds like it's going to be just lovely for me... a new graduate student who needs loans to pay for classes. I've been having trouble already with it... I was approved for a certain amount in loans, and I started applying for them. I can't get into the page for loan counselling and to pick a lender because it says its timed out. I've been calling, getting busy signals and incorrect answers when they do answer... and now with this whole economy deal, I'm afraid I may not even find a lender! So now this is added on to the 82 million things I'm stressing out over. Great. If anyone has any reassurance to offer me on this, I would greatly appreciate it 'cause I'm really not sure what to think right now... even though Eddie still says to not worry about it (yet).

Yeah, I can definitely see how that is stressing you out! I don't have any advice, but I'm kinda in the same boat as you. FH and I are kinda persuing house hunting right now. We are pre-approved through a credit union around here, but I'm still nervous the way everything is! Plus, we have to sell our condo, so I'm sure we are going to deal with people's lendors falling through.

[amunet]

This whole thing sounds like it's going to be just lovely for me... a new graduate student who needs loans to pay for classes. I've been having trouble already with it... I was approved for a certain amount in loans, and I started applying for them. I can't get into the page for loan counselling and to pick a lender because it says its timed out. I've been calling, getting busy signals and incorrect answers when they do answer... and now with this whole economy deal, I'm afraid I may not even find a lender! So now this is added on to the 82 million things I'm stressing out over. Great. If anyone has any reassurance to offer me on this, I would greatly appreciate it 'cause I'm really not sure what to think right now... even though Eddie still says to not worry about it (yet).

I'm also in a similar situation, just graduating college. I am worried since I am going to look for a job soon to start as soon as a graduate so hope things don't affect it that much.

[Kay]

I graduate from college August 1st. NO JOB. Not even an interview yet!!! :sob: It is SERIOUSLY killing me. I was.. of all things.. a FINANCE major. I remember last semester my Advanced Investments professor said, in all our lives, even in his life, we would NEVER EVER see the market this low, ever again in our lives... I hope Obama gets elected and this is true.

Sorry to throw politics in but GEEZ... things are SO BAD right now. Not having a job is HORRIBLE. :sob::sob:

[Ninedays9]

I'm not even close to graduating and I already feel like I can sympathize with you on that... I'll be getting a library science degree (if I do, in fact, even get the loans to cover the costs), and there's one scary factor about getting a job at a library... when people do get jobs there, they stay there until they retire and beyond. And we live in the area where the library school is (and FH doesn't seem to want to move), so that makes it even harder.

Hopefully something will work out... and I also hope you find a job soon!

[Kay]

Heather,
I soooo feel your pain!! I live in a small town and when anyone gets any sort of "good" job here, they literally keep it their entire life. If you don't, you are frowned-upon. My sister is in her mid 40s and has worked at the same office since she was 17. It is the only job she has ever had. Lots of people in this town are like that and I applaud that... but when the market is dead and the economy is dead... there are no NEW job openings. :sob:

Good luck to us both!!

BTW, I "graduated" not graduate. LOL Soooo intelligent am I, huh? LOL