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about the latest (bad) bailout

Discussion in 'Financial Cents' started by eeyore, Sep 25, 2008.

  1. eeyore

    eeyore Monkey++

    Thomas Sowell is one of the best economic minds that this Country processes (imo)


  2. homeshow

    homeshow Monkey++

    We do not need a replay of the Great Depression of the 1930s, when the failure of thousands of banks meant a drastic reduction of credit-- and therefore a drastic reduction of the demand needed to keep production going and millions of people employed.

    this will happen without government help. no i don't like it. but i need my job and this paper is not worthless. it is mortgages to real homes you can buy and live in. not a T-bill can't live in a T-bill. a $200,000 house gets reduced to $150,000 the actual mortgage note costs is close to $90,000 so even at $150,000 this is a good long term investment. the problem is that the $90,000 is tied up. as in not available for investment or to use for loans (credit). there is a great chance that the US government will make lots of moolah long term. of course the democrats will spend it as soon as it hits the books.
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