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10 thoughts on “Bailout Money

  1. markross Post author

    Yes, I have heard conflicting numbers, also.

    However, how can we can track it when billions are being thrown out one day, in one direction, and another, in another direction.

    LdyBelle,

    The problem is so complex and there is some degree of blame that we can all assume; from credit cards, excessive spending, and living beyond our means, generally speaking;

    to banks, making loans to people who were high risks, to overpaid, corporate CEOs, fiscal irresponsibility by The Republicans, over the last eight years, to The Fannie-Freddie mess that is a known Democrat monster that was allowed to go on, way too long; some Wall Street corruption, accounting fraud, and cooking books..etc.

    I could easily break this out to a full blown political discussion, however, I will attempt not to, here at least.

    So, here we are..

    We can all take responsibility to some degree for the problem, however, looking forward, the question is, how do we solve it? That brings us full circle; the way the government is handling it, seems to be a disaster and an out of control mess, frankly.

    If we are all given a stimulus check, frankly, I do not think that it will do a darn thing for the economy, it is a mere pat on the back, by the government, like giving a child a lollipop for not misbehaving; if they want to attempt to do that, in order to stimulate the economy, then perhaps they need to get that money out NOW, in time for Christmas; not likely.

    The point that we hit upon, that does make total sense to me, is that, if the consumers were "somehow" given a sufficient amount toward strictly debt relief assistance, then possibly we can all pay the banks for most of our debts..ie. credit cards etc. With that, the consumers (citizens) are more confident about their futures, able to save, and spend more, the banks are getting money toward "real" debt, then more likely to lend, and on and on.

    Beyond that, is the debate as to how "not" to get into this jam again; that will take a lot of cooperation and responsibility by all of us.

    OK, now I go back to saying, "in my opinion", the way the government is handling it, is insane; I see it as a temporary band-aid, not resolving anything; then how are they going to explain to us that they just wasted billions of dollars when these big companies, may eventually, fold anyhow; then go into bankruptcy and restructuring, like they probably should be doing now.

    In both scenarios, jobs will be lost, however, billions of tax dollars, would have been saved; preserving the value of the dollar, less national debt, and god forbid, what if we have an international threat, that would require further military needs.

    To that extent, the government is their own worse enemy, and possibly drawing a further divide between us and them.

    Please excuse the diatribe.

    Mark

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  2. markross Post author

    LdyBelle,
    I hear you..
    I think that having this site, and some others, helps me vent our my sincere disappointment and disillusionment, in our Federal Government.

    I don’t think that the people will step back (God help us all) forever and watch this happen; at some point, they/we are going to ask, where’s ours.

    In fact, one study showed that after averaging out, all of the bailout money, thus far, it is app. $24,000 per person; can you imagine?

    I can think of a few things that I would do with that money.
    Number one, with less then half of that money, I could be totally debt free. Wouldn’t that be nice?

    Mark

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  3. LdyBelle

    I’ve heard that dollar amount range from $2K to $100K!!

    Whatever that amount may be, would truly help any citizen of this country and truly stimulate this economy and help ease our own personal debt… Which I think if FAR more important than bailing out corporation after corporation..

    Now, I certainly do not want unemployment to rise and that is what these “companies” are threatening.. However, that can’t be the only solution..

    Ahhh, to be debt free would be amazing! I only know a small few who actually live that way and what a way to live!!! Especially now…

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  4. LdyBelle

    Point taken – However, with what you say, I think this has been 20 years in the making, not only the past 8… What was the infamous line from that famous movie made in 1987?? Wall Street ~ “Greed is good”???

    Growing up in the 80’s and maturing into the 90’s, us Gen X’ers may have contributed mostly to this problem.. Wanting more, getting more, and wanting even more is a generational issue.. And, I think it will take a generation for us to get out of it.. Who knows? It’s just an opinion, but to me, it’s taken us a long time to get here and it will take us a long time to get out – if we’ve really learned from our “mistakes”…

    Personally, I am fearful of what may come down the road… I work in an industry that is volitile based upon the economy and I can’t help to wonder that my job may be at risk in the coming year…

    The thought of losing nearly 15 years of experience and to start over at the begining is terrifying… I’m sure I’m not the only one who fears this… I wonder, what could I do, and how could I survive based upon my skill set, to start off a new career – at this mid-point of my life??? I pray that this does not happen and that I’ll be able to ride out this “storm” but, you never know.. Too many companies are falling and if you seen any of the emails regarding the retail industry, many more will be gone after Christmas…

    How could we survive, truly, if unemployment jumps to 15-25% ?? I only have faint memories of the late 70’s under Carter when unemployment was high… From what I recall, what may come will be nothing like we have seen before…

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  5. markross Post author

    I totally agree! I was by no way saying that it was exclusive to the last eight years, although some people would love to believe that it was.

    I agree, the last two or so generations have lived WAY beyond their means. Our parents were brought up to believe that you lived a frugal life style, and that you should save for rainy days; the last few generations have lived in the thinking of why get one wide screen TV when I can get the second one for half price. Insane! You know, I have a 54″, wide screen TV, it is called 2, 27 inch TVs. : )

    To the defense of the last 8 years, we did have 9-11, the need for increased national security, we’ve been fighting two wars, for many years; still government spending has been so irresponsible, and one of the wars, debatable.

    Bill Clinton did, indeed, leave us with a surplus budget, however, we can not go back and say, if 9-11 did not happen, then this and that…There are just so many variables, at play.

    I can understand your fear; I’m sure that the whole nation is somewhat anxious with all of this craziness that seemingly, side swiped us. I admit that I am a bit anxious, pretty dam angry, at the government, and some days I watch this all, very vicariously.

    I suppose that since my entire adult life has been filled with ups and downs, coupled with perpetual change, it has somewhat prepared me to survive and weather big storms, emotionally.

    Since you have been at one company, for 15 years, I can see the fear that you may have of your situation changing. I have found that while change may feel uncomfortable, at first, it usually works out for the best, in the end.

    I don’t know all of the details of your skill set, but based on the few conversations that we have had, you seem like you have many marketable skills and experience. Perhaps it may be a good idea to take some proactive measures, to the extent that you can?

    There is certainly an unsettling feeling in the air, and there is no doubt, going to be some hard times ahead, however, it is in nobody’s interest to see a complete downfall of our system; at least from people that are citizens of this country. So, to that extent, we have to be careful to not get too freaked out; at the same time, being prepared for hard times ahead.

    LdyBelle,
    You raise a great, historical point, in time, under The Carter administration, and look, we survived it. Also, we had The Great Depression and were fighting WW2, at the same time, inconceivable; not to mention 9-11, which could have potentially ruined us.

    Surviving these events, show that our country is very resilient, however, it took solid leadership, wise decisions, and citizens really pulling together, to help pull us out of those times.

    I have a very limited faith in DC politics, it is a severely flawed system, however, I do remain optimistic for our future. Remember, change and “lots” of faith can go a long way, in the end.

    WOW! I just redefined the word diatribe : )
    Heavy subject, huh?

    Mark

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