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Jandar
Joined: 11 Jun 2008
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 Posted: Thu Sep 25, 2008 10:05 pm Post subject: |
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I don't know if this has already been contributed here but $700,000,000,000
comes out to about a $2300 donation for each and every man woman and child in the USA.
For a household figure multiply by 4 or $9200 per household(AVG). |
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Hater Depot
Joined: 29 Mar 2005
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| Posted: Sat Sep 27, 2008 8:46 pm Post subject: |
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| All I know is, my student loans are a major drag on the economy and I should really be bailed out. |
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sojourner1
Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug
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| Posted: Sat Sep 27, 2008 10:32 pm Post subject: |
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| Hater Depot wrote: |
| All I know is, my student loans are a major drag on the economy and I should really be bailed out. |
Amen, it's the little guys they should be helping too. I don't think it's too much to ask for $20,000 to $40,000 loan forgiveness on account of bad economics and job market due to terrible leadership screwing the country system and economy up like they did. If we're going to forgive billions of dollars of bad corporate and executive debt on account of the risky investment mistakes executives took on during the Bush years, then they should just wipe us all clean of debt to start over. The big wigs sold us over priced education, housing, and merchandise that isn't worth enough in today's economy to have chance at being debt free and wealth building while they sold us out by outsourcing jobs overseas, downsizing, and stagnating wages. For every individual, especially educated individual, who is able to pay debt, save, enterprise, and invest, they have a huge positive impact on the entire country system itself, but many college graduates are not performing at adequate levels due to the terrible job market. I'd be happy to pay off that over priced $40,000 education loan, but these years are not very prosperous to our generation like it was during the 20th century after the great depression where they had appropriate employment, home ownership, healthy economy, and adequate incomes. I just holding onto what little chicken feed I can crumb snatch into my bag so I can have needed things such as a car and housing when I repatriate.
Crumb snatching is not profitable enough for someone who invested 5 years and $40,000 of debt to get professional qualifications with the idea of having a rewarding professional career. That's what they (government, educators, and business leaders) sold us since we were little kids. It's sickly absurd when you served your country and got an education at one of the great state universities to find you don't have career opportunity and then are expected to pay all this student loan debt while you struggle and then the big wigs get forgiven for their huge boondoggled mistakes that got us all into this mess in the first place. It's absurd for those like me to be struggling from paycheck to paycheck and then have to decide which bills not to pay so they can eat. That's all too common at home during the Bush years. That's mine and millions of others experience. Sickly absurd. |
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peppermint
Joined: 13 May 2003
Location: traversing the minefields of caddishness.
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| Posted: Sun Sep 28, 2008 2:45 am Post subject: |
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| I'm still wondering if the money couldn't be used to bail regular people out of the foreclosures that got the banks into this mess in the first place. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sun Sep 28, 2008 7:04 am Post subject: |
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| peppermint wrote: |
| I'm still wondering if the money couldn't be used to bail regular people out of the foreclosures that got the banks into this mess in the first place. |
Firstly, "regular people" don't have a direct number to Uncle Hank. In addition, people who bought stuff they can't afford do not deserve to be bailed out. |
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alpope23
Joined: 15 Mar 2006
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| Posted: Sun Sep 28, 2008 12:41 pm Post subject: |
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It is exactly the same as 70 TRILLION pennies!!!!  |
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Gatsby
Joined: 09 Feb 2007
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| Posted: Sun Sep 28, 2008 9:08 pm Post subject: |
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alpope23 wrote:
| Quote: |
| It is exactly the same as 70 TRILLION pennies!!!! |
This is not exactly right.
If the government were to pay out the bailout funds in pennies, it would cost them $980,000,000,000 to make the $700,000,000,000 in pennies. This is because it costs about 1.4 cents to make one penny, given the high price of the metals.
It might be worth it, though, for the satisfaction of seeing the banks paid in pennies. I'd just love to see them count them all. Just pile them on the CEO's desk. On the other hand, they might be able to melt down the pennies and make a profit. Not good.
Here's another way to look at it:
$700,000,000,000 = 812,280,017,089,870 won.
At least according to the yahoo currency converter:
http://finance.yahoo.com/currency/convert?amt=700000000000&from=USD&to=KRW&submit=Convert
Is there such a thing as 812,280,017,089,870 won in currency?
That comes to 16,577,143 won per South Korean. |
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Tiger Beer
Joined: 07 Feb 2003
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| Posted: Mon Sep 29, 2008 12:15 am Post subject: |
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There are 6 billion people on Planet Earth...so the 700 Billion Bailout is...equivalent to a little over $100 from every individual on planet earth.
Wonder how much that would be from each individual U.S. taxpayer...probably astounding how much that will cost each of us in U.S. taxpaying dollars. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Thu Oct 02, 2008 5:29 am Post subject: |
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Dennis Kucinich speaking against the bailout on the House floor said there were half a quadrillion dollars ($500,000,000,000,000) that stood to fail in the derivatives market. That is of course 50 quadrillion pennies, and 612,044,039,080,118,656 (612 quintillion+) won.
Does anyone know how much money there is in the world? All currencies total. USD equivalent, please.
(If this has anything to do with M1, M2, and M3, please explain.)
Last edited by bacasper on Fri Oct 03, 2008 4:52 am; edited 1 time in total |
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ddeubel
Joined: 20 Jul 2005
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| Posted: Thu Oct 02, 2008 4:52 pm Post subject: |
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LOL! Thanks Pooty for this is indeed a gem. I better PM her thanks - I'm still laughing....... (not all the way to the bank).
I find it sooo ironic that the cost of the war in Iraq = the cost of the irresponsibility in the financial markets. A new kind of math.
DD
| Quote: |
Credit to Alyallen for this gem:
From: Ethan Ackerman
Date: Tue, Sep 23, 2008 at 1:18 PM
Subject: URGENT BUSINESS RELATIONSHIP
DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.
I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.
I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.
THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.
PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO [email protected] SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.
YOURS FAITHFULLY, MINISTER OF TREASURY PAULSON |
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Gatsby
Joined: 09 Feb 2007
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| Posted: Thu Oct 09, 2008 5:54 pm Post subject: |
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Poet on Call
by Andrei Codrescu
After The Bailout
Listen Now [4 min 37 sec] add to playlist
All Things Considered, October 9, 2008 � I was sharpening my chain saw when they called me from Washington, D.C., to ask me how to fix the economy.
This request focused my thoughts, or the lack of 'em, to such a fine point, I gave my 14-inch Echo an edge it never had. Good enough for cutting half a cord at least, to keep the wood stove going through October. I love not paying the oil company a nickel. Except for the half-gallon of gas and the chain oil, but I'm fixin' to make the thing run on plum brandy. I've got a plum tree.
Ah, where were we? The economy, yes: $700 billion is more than enough money to buy every able-bodied American a chain saw, a solar-powered generator and a stake in a communal well and windmill. Also, red dirt and plum trees. That would probably only cost about $100 billion, and you can use the other $600 billion to buy everybody their house outright.... |
http://www.npr.org/templates/story/story.php?storyId=95567782 |
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Kuros
Joined: 27 Apr 2004
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| Posted: Thu Oct 09, 2008 6:44 pm Post subject: |
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| Gatsby wrote: |
Here's another way to look at it:
$700,000,000,000 = 812,280,017,089,870 won.
At least according to the yahoo currency converter:
http://finance.yahoo.com/currency/convert?amt=700000000000&from=USD&to=KRW&submit=Convert
Is there such a thing as 812,280,017,089,870 won in currency?
That comes to 16,577,143 won per South Korean. |
Gatsby, using the same converter and the same $700billion, I came up with this figure: 967,119,982,910,130.0 won.
You see? In just over a week that $700billion has increased in value! The bailout is working!
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Jandar
Joined: 11 Jun 2008
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| Posted: Thu Oct 09, 2008 7:02 pm Post subject: |
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| mises wrote: |
| peppermint wrote: |
| I'm still wondering if the money couldn't be used to bail regular people out of the foreclosures that got the banks into this mess in the first place. |
Firstly, "regular people" don't have a direct number to Uncle Hank. In addition, people who bought stuff they can't afford do not deserve to be bailed out. |
The real question is who really bought what they couldn't afford. Was it the banks (mortgagee) buying homes at 120% of equity or the Tenant (Mortgagor), in the end by all definitions I have seen, it is the Mortgagee that ultimately holds true legal estate aginst the mortgaged property until fulfillment of the debt. Without relieving the tenant neither party prospers.
My feeling and many others is that in the end the bank bought it.
See Country Wide Mortgage (BoA) settlement ie. predatory lending practices. |
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