Woody Posted February 9, 2009 Share Posted February 9, 2009 According to Fox .... the 'stimulous' money so far ... is enough to pay off 90% of all the mortgages in the United States. Instead though ... it goes to 'pet' programs to 'indirectly' stimulate the economy. When will America wake up to the Socialism and Nationalism that is being pushed down our throats by the Obama Admin.? Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Moderators Bravus Posted February 9, 2009 Moderators Share Posted February 9, 2009 WWBD? (What Would Bush Do?) Quote Truth is important Link to comment Share on other sites More sharing options...
Moderators Bravus Posted February 9, 2009 Moderators Share Posted February 9, 2009 It's not a bad idea, though: pay off everyone's mortgage, but make them sign an agreement not to enter into a new mortgage for 5 years (to avoid just a rush of trading up based on the new equity). That would release a massive amount of cash into most people's family budgets if they had no mortgage payment, which would stimulate the economy... Quote Truth is important Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 10, 2009 Share Posted February 10, 2009 I am one of them that doesn't think the stimulus package is big enough. Paying off debts, mortgages or otherwise, is not going to stimulate the economy. We need more consumerism. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Moderators Bravus Posted February 10, 2009 Moderators Share Posted February 10, 2009 You missed my point, though: if suddenly I had no mortgage payment every month, I'd have something like an extra $2000 a month available. Do you think none of that would get spent? Quote Truth is important Link to comment Share on other sites More sharing options...
Members phkrause Posted February 10, 2009 Members Share Posted February 10, 2009 I mentioned on another thread that I was listening to NPR the other day and they were interviewing a financial economist, actually I believe it was two economist, and they said that it should be 1.5 trillion. So I would say that they agree with you. Maybe you should change your occupation. pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 10, 2009 Share Posted February 10, 2009 If we paid off everyone's mortgage that would just be giving the banks a bunch of money. We did that already and it didn't accomplish much. If everyone got their home paid off, what would they do with the money they are using for the mortgage? They may just use that money to pay down other debt - which would put all that more money into the banks. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
CyberGuy Posted February 10, 2009 Share Posted February 10, 2009 According to Fox .... the 'stimulous' money so far ... is enough to pay off 90% of all the mortgages in the United States. Instead though ... it goes to 'pet' programs to 'indirectly' stimulate the economy. When will America wake up to the Socialism and Nationalism that is being pushed down our throats by the Obama Admin.? Fox is wrong. I have heard there is 11 trillion dollars in bad mortgages out there. If it was as simple as 1 trillion the government would have picked up all the debt and we would go on. 11 trillion just is to big a bite for even the federal government to chew on. Quote Riverside CA Link to comment Share on other sites More sharing options...
Amelia Posted February 10, 2009 Share Posted February 10, 2009 What about all the people in need who dont have mortgages? What is going to be done to stimulate them? Quote <p><span style="color:#0000FF;"><span style="font-weight:bold;"><span style="font-style:italic;">"Do not use harmful words, but only helpful words, the kind that build up and provide what is needed, so that what you say will do good to those who hear you."</span></span> Eph 4:29</span><br><br><img src="http://banners.wunderground.com/weathersticker/gizmotimetemp_both/US/OR/Fairview.gif" alt="Fairview.gif"> Fairview Or</p> Link to comment Share on other sites More sharing options...
Moderators Bravus Posted February 10, 2009 Moderators Share Posted February 10, 2009 Well, I should note that it was more by way of fancy on my part than a serious proposal - I know there are all sorts of holes in it. But the idea of the stimulus is to get businesses going, and by paying off the mortgages and getting spending going, that would happen. The poor people without mortgages mostly still have jobs in either manufacturing or service industries, and the people whose mortgages got paid off would be buying those goods and services, which would mean that the people without would keep their jobs. Not perfect, but no scheme is. Shane, how many billions have already been given to the banks? And my proposal is *instead* of directly giving more to the banks, not *as well as*. It just sucks that the American taxpayer is paying trillions to bail out the banks, but the banks can still foreclose on the taxpayer. Seems fundamentally unfair. Quote Truth is important Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 10, 2009 Share Posted February 10, 2009 There are certainly problems with the bank bailout. Hopefully our new Secretary of Treasury can do things better with the second half of the money than the last one did with the first half. But since this guy doesn't even know how to file his own taxes, I am not exactly inspired with confidence. The banks have lost so much money that the bailoout is really just a drop in the bucket. But... the money they have lost is a paper loss, and if they could change their accounting system they could get a lot of that money back. But... the government has to let them change the accounting systems. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
jasd Posted February 11, 2009 Share Posted February 11, 2009 Qr frame: Trillions...? try 50+ trillion in derivatives - still out there. What's that portend? Perspectives: I'm not big on math, but I think that if one paid-off a trillion-dollar bill at the rate of $1 a second - it would take 31,000 years to pay the principle - the service charges would significantly add to the bill. That's the dirty little secret that no one is addressing re the current Stimulus package - the service charges! (as I recall, the first 11 years of a 30-year mortgage goes to the interest payments - before the principle starts drawing down - relatively speaking) Quote Link to comment Share on other sites More sharing options...
fccool Posted February 11, 2009 Share Posted February 11, 2009 According to Fox .... the 'stimulous' money so far ... is enough to pay off 90% of all the mortgages in the United States. Instead though ... it goes to 'pet' programs to 'indirectly' stimulate the economy. When will America wake up to the Socialism and Nationalism that is being pushed down our throats by the Obama Admin.? I don't think you understand the problem. Paying off American mortgages will do no good considering that the entire financial system of US depends on strength of the dollar, and solvency(or confidence in) of the banks. If you paid off all of the mortgages, you'd get severe inflationary effect, and subsequent collapse of the economies. The people in charge are not stupid. They understand the problems at hand, and they do the only thing they can do to prolong the agony a bit longer. It's not a win/loose situation. It's a loose/loose one. Quote Link to comment Share on other sites More sharing options...
Woody Posted February 11, 2009 Author Share Posted February 11, 2009 Never suggested that paying off mortgages was a good or a bad idea. I just described the scope of the stimulous. However ... I do believe the people in charge are stupid. They are tossing out trillions of dollars to banks etc with out any controls on it. That is stupid. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
olger Posted February 11, 2009 Share Posted February 11, 2009 According to Fox .... the 'stimulous' money so far ... is enough to pay off 90% of all the mortgages in the United States. Instead though ... it goes to 'pet' programs to 'indirectly' stimulate the economy. When will America wake up to the Socialism and Nationalism that is being pushed down our throats by the Obama Admin.? Ya gotta good point there, Pilgrim. Quote "Please don't feed the drama queens.." Link to comment Share on other sites More sharing options...
Moderators Bravus Posted February 12, 2009 Moderators Share Posted February 12, 2009 I'll ask it again: WWBD - What Would Bush Do? If he was still president, what would his actions and proposals be? Quote Truth is important Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 12, 2009 Share Posted February 12, 2009 We know what Bush did before. He cut taxes, sent out rebate checks and encourage the public to consume. That worked after 9/11 and the economy boomed. This latest crisis has been brought on by banks buying toxic assets. The media and our new President has been scaring the daylights out of everyone to the point where I am not sure what could convince the public to start spending. Americans are now saving more money than they have in several years. Much is that is directly influenced by the media and the President's fear-mongering. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
Woody Posted February 12, 2009 Author Share Posted February 12, 2009 Yeah ... the fear mongering is just to save his .... when his policies fail. What is ironic is that while he is encouraging us NOT to spend ... spending is exactly what he is doing by making our grandchildren pay for it. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
olger Posted February 13, 2009 Share Posted February 13, 2009 I'll ask it again: WWBD - What Would Bush Do? If he was still president, what would his actions and proposals be? Bush was spendy enough to make people think he was somewhat a liberal. I am one of them. The conservative things that he did were good - he should have done more of them. Next question please, og Quote "Please don't feed the drama queens.." Link to comment Share on other sites More sharing options...
Dr. Shane Posted February 13, 2009 Share Posted February 13, 2009 The current crisis was caused by a combination of banks buying toxic assets and the Federal Reserve making money so cheap which encouraged the banks to buy more toxic assets. No one in Congress was crying for more regulation and the Administration was bragging about the number of minorities becoming home owners. There is not an innocent politician in Washington and the idea that the same folks that caused this mess are going to save us from it is quite absurd. I hope it works out. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
olger Posted February 14, 2009 Share Posted February 14, 2009 A SERIOUSLY messed up individual: Quote "Please don't feed the drama queens.." Link to comment Share on other sites More sharing options...
Parade Orange Posted February 14, 2009 Share Posted February 14, 2009 that guy looks familiar who is he? look at his eyes! is he gay? my gaydar went off! Quote All progress in the Spiritual Life is knowing and Loving GOD"there is non upon earth that I desire besides YOU" PS 73:25That perspective changes EVERYTHING-suffering and adversity are the means that makes us hungry for GOD. Disapointments will wean us away wordly occupations. Even sin(when repented of) becomes a mechanism to push us closer to HIM as we experience His Love and Forgiveness. Link to comment Share on other sites More sharing options...
Members phkrause Posted February 14, 2009 Members Share Posted February 14, 2009 Yes he is, and his name is Barney Frank, a senator from Massachusetts. pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Moderators John317 Posted February 14, 2009 Moderators Share Posted February 14, 2009 Congressman. Quote John 3:16-17 For God so loved the world, that he gave his only Son, that whoever believes in him should not perish but have eternal life. [17] For God did not send his Son into the world to condemn the world, but in order that the world might be saved through him. Link to comment Share on other sites More sharing options...
Members phkrause Posted February 14, 2009 Members Share Posted February 14, 2009 congressman, right, thanks john pk Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
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