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The Second Great Depression - Page 17

I am wanting to see what this talk of the government subsidizing the mortgages of those in trouble. I wonder if I can pass the test and get my mortgage subsidized too?

Depression Great The

The main question I have for President Obama is what is the backup plan? Each politician has the solution, but you never hear a backup plan if the stimulus fails.

The Second Great Depression History & Civil Business Politics

Thats because there is no back up plan because we are all hoping for this thing to bail us out of trouble if it fails we are indeed screwed.

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Martin Khor on the Global Economic Meltdown: "We Could Have One Billion More People in the Developing World Plunging into New Poverty Because of this Crisis"

President Obama is scheduled to sign the $787 billion economic stimulus plan into law at a ceremony in Denver today. Tomorrow in Phoenix, Obama is expected to tackle the home mortgage crisis and roll out a plan to stem the huge rise in foreclosures. While there has been much discussion in the media on the state of the US economy, what about the rest of the world? From Greece to Guadeloupe, from Italy to Indonesia, from Chile to China, from Egypt to India, countries across the globe are feeling the heat of the recession that started over a year ago in the United States. We speak to economist Martin Khor of the Third World Network based in Malaysia. Ref. Source 5

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Bill Signed!

President Obama signs a $787 billion stimulus bill he calls "the most sweeping economic recovery package in our history." Ref. CNN

The Second Great Depression

Now lets all hope this does more good then bad.I for one hope its the right move.

The Great Depression - Page 17

What's happening here is "buying the future." All this debt to make the economy down the road somewhere do a turn-around. However, in order for it to work, there has to be continuous feeding of the future. It's like being sunk in credit card debt up to your armpits -- it's never paid off until you STOP BUYING THINGS ON CREDIT. Banker bailouts, automaker bailout, this stimulus plan, then the foreclosure bailout, etc etc etc. It will never end! Government (credit card debt) will just keep getting bigger and bigger and bigger, and everyone will be standing around for the next handout.

Personally, I don't want to be dependent on the government in that way and I don't want to be a slave to the US debt. That's all this "buying forward" is doing, creating future debt for our kids, grandkids, great-grandkids, ad infinitum. This depression is not over, not by a long shot, and all of this political posturing and "rescuing" is just making it worse, in my opinion.

The Great Depression Politics Business Civil & History - Page 17

Listening to all this bailout of bad mortgages is making me mad. I have paid my mortgage and not missed a single payment for over six years. Now I am thinking of not paying my mortgage so I can get these nice low interests rates and get at least $1,000 per year for keeping my mortgage current. I think all this is just going to cause more crisis in the housing industry as those who are currently paying and are not behind in any way are left out and those who are not paying anything are given free handouts.

Oh what a different world this is going to be by this summer.