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B · 09-22-2008, 03:32 PM

Oil spikes $25 a barrel on anxiety over US bailout: Financial News - Yahoo! Finance

yay.

Korax · 09-22-2008, 03:37 PM

For any reason, just ridiculous.

nootrac22 · 09-22-2008, 03:40 PM

nice I forgot to call and get my oil delivered today. I'll get screwed tomorrow.

Sabz5150 · 09-22-2008, 03:48 PM

I <3 deregulation. Don't you

B · 09-22-2008, 03:49 PM

socialism at it's finest.

Sabz5150 · 09-22-2008, 03:51 PM

Quote:

Originally Posted by B

corporate socialism at it's finest.

Fixed.

Korax · 09-22-2008, 03:59 PM

How is deregulation socialism? Wouldn't everything be regulated then?

B · 09-22-2008, 04:00 PM

private firms are becoming gov't firms.

when the gov't owns everything, capitalism is bust, and thus, we have socialism.

Korax · 09-22-2008, 04:21 PM

Ok, I just wasn't sure how you meant it. Either way it is their fault as much as the people who buy things they shouldn't. Whether you think it is deregualtions or not, forcing companies to continually take on bad debt that wasn't always their own to begin with wasn't a good idea.

B · 09-22-2008, 04:26 PM

You don't think it's their fault people are defaulting on loans?

I can see your point... but if you're going to design a loan type that is designed to fuck the consumer, what do you expect to happen?

stupid people fall for it.
stupid people usually don't have money because they are stupid.

here we are.

Korax · 09-22-2008, 04:30 PM

Yeah I think we are on the same page, haha. I said it was both.

Sabz5150 · 09-22-2008, 04:42 PM

Quote:

Originally Posted by B

I can see your point... but if you're going to design a loan type that is designed to fuck the consumer, what do you expect to happen?

A 700 billion dollar bailout and parachutes made of solid gold. Fucking the consumer is the means, not the end.

Celerity · 09-22-2008, 05:54 PM

None of you people know what you're talking about. You have been disqualified.

Socialism is not about government takeovers of banks. The Baillout was the fault of the company being bought, not the government that stepped in. Hoovervilles are the result of mortgage crisis.

mdpsEG · 09-22-2008, 06:28 PM

hell we are probably closer to communism than to socialism.... either way we are all screwed and this country is going downhill in a big way

EGProject · 09-22-2008, 08:43 PM

Everyone say it with me... Seven...hundred....BILLION. The gov bails out all these stupid companies that gambled on horrible mortgages, and I get a lousy check for $300 as an "incentive"? WTF?

That's almost a TRILLION dollars going to buy up private housing, to be owned by the government.

Silverchild79 · 09-22-2008, 09:03 PM

WOW

I can't believe both the Dem's and the GOP sold us out be deregulating the mortgage industry in the name of campaign money

I can't believe Obama was dumb enough to give a speech on TV solely blaming the republicans for this at the same time as Bill Clinton was on TV explaing that both sides of congress (to include Biden) were guilty of the actions that lead us to where we are today

And I can't belive that now our governmnet thinks the best solution is to buy up everything that's bad in wall st.

2000Si · 09-22-2008, 09:18 PM

So THAT is what happened.

I put 50 bucks in the work truck today at 3.98. As I was driving down to Bluffton at 9:30 it dropped to 3.82.

When I got back at 2 pm it was back to 3.95. lol

2000Si · 09-22-2008, 09:20 PM

Fuck B... Sell your gold.

Quote:

In other trading, gold prices shot up more than $44.30 to settle at $909 an ounce, and other safe-haven commodities also rallied, underscoring investors' uncertainly about the direction of the economy and their fear of more turmoil ahead.

totalburnout · 09-22-2008, 10:21 PM

Quote:

Originally Posted by 2000Si

Fuck B... Sell your gold.

Three months ago gold was $960.

nootrac22 · 09-22-2008, 10:23 PM

hold on to the gold. the dollar might be useful for toilet paper soon, but gold will always have value.

B · 09-22-2008, 11:50 PM

i'm not selling my gold or silver until i retire.

cheese9988 · 09-23-2008, 10:48 AM

Soooo as part of this $700b deal is the government:
1. Buying a stake in the bankrupt companies
2. Flat buying these companies out
3. Just being generous and handing money out or loaning money out

reckedracing · 09-23-2008, 11:08 AM

buying a stake in the companies
(and also trying to limit executive packages, which isn't going well from what i understand)

cheese9988 · 09-23-2008, 12:27 PM

Are they trying to buy more than 50% of companies stock then? If the government doesn't have control over the company, wouldn't it just be a profit gain?

Ie: govt buys a ton of stock, magically the stock market rises again, govt kicks its heals over all the money it made.

nootrac22 · 09-23-2008, 12:53 PM

heard on the radio this moring a govt watchdog group (i forgot the name) basically said that what ever the govt is saying the cost of this will be is wrong. Double it for a more realistic figure. 1.4 trillion is about equal to 1/3 of GDP

09-22-2008, 03:32 PM	#1
B Administrator Join Date: Nov 2007 Location: across the way Age: 29 Posts: 8,016 iTrader: 0 / 0% Ride: 318ti, dakota, genesis 2.0t Rep Power: 403	F%@#$ bailouts Oil spikes $25 a barrel on anxiety over US bailout: Financial News - Yahoo! Finance yay.

09-22-2008, 03:37 PM	#2
Korax Senior Member Join Date: Nov 2007 Location: Western PA Age: 24 Posts: 692 iTrader: 0 / 0% Ride: 1990 ED DX jdm D15B dual carb;x 1991 ED DX B16A OBD0 Rep Power: 21	For any reason, just ridiculous. __________________ PSN: Korax37

09-22-2008, 03:48 PM	#4
Sabz5150 FALCON PUNCH!!! Join Date: Nov 2003 Age: 31 Posts: 3,338 iTrader: 0 / 0% Ride: 1989 Accord SE-i Rep Power: 101	I <3 deregulation. Don't you __________________ lrwxrwxrwx 1 root root 9 2007-09-24 10:32 /dev/thisissparta -> /dev/null

09-22-2008, 03:59 PM	#7
Korax Senior Member Join Date: Nov 2007 Location: Western PA Age: 24 Posts: 692 iTrader: 0 / 0% Ride: 1990 ED DX jdm D15B dual carb;x 1991 ED DX B16A OBD0 Rep Power: 21	How is deregulation socialism? Wouldn't everything be regulated then? __________________ PSN: Korax37

09-22-2008, 04:21 PM	#9
Korax Senior Member Join Date: Nov 2007 Location: Western PA Age: 24 Posts: 692 iTrader: 0 / 0% Ride: 1990 ED DX jdm D15B dual carb;x 1991 ED DX B16A OBD0 Rep Power: 21	Ok, I just wasn't sure how you meant it. Either way it is their fault as much as the people who buy things they shouldn't. Whether you think it is deregualtions or not, forcing companies to continually take on bad debt that wasn't always their own to begin with wasn't a good idea. __________________ PSN: Korax37


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09-22-2008, 03:40 PM	#3
nootrac22 Senior Member Join Date: Mar 2007 Location: PA pocono mts Age: 33 Posts: 4,002 iTrader: 1 / 100% Ride: daily driver working on 92 prelude 4ws Blog Entries: 1 Rep Power: 228	nice I forgot to call and get my oil delivered today. I'll get screwed tomorrow.

09-22-2008, 03:49 PM	#5
B Administrator Join Date: Nov 2007 Location: across the way Age: 29 Posts: 8,016 iTrader: 0 / 0% Ride: 318ti, dakota, genesis 2.0t Rep Power: 403	socialism at it's finest.

09-22-2008, 04:00 PM	#8
B Administrator Join Date: Nov 2007 Location: across the way Age: 29 Posts: 8,016 iTrader: 0 / 0% Ride: 318ti, dakota, genesis 2.0t Rep Power: 403	private firms are becoming gov't firms. when the gov't owns everything, capitalism is bust, and thus, we have socialism.

09-22-2008, 04:26 PM	#10
B Administrator Join Date: Nov 2007 Location: across the way Age: 29 Posts: 8,016 iTrader: 0 / 0% Ride: 318ti, dakota, genesis 2.0t Rep Power: 403	You don't think it's their fault people are defaulting on loans? I can see your point... but if you're going to design a loan type that is designed to fuck the consumer, what do you expect to happen? stupid people fall for it. stupid people usually don't have money because they are stupid. here we are.

09-22-2008, 04:30 PM	#11
Korax Senior Member Join Date: Nov 2007 Location: Western PA Age: 24 Posts: 692 iTrader: 0 / 0% Ride: 1990 ED DX jdm D15B dual carb;x 1991 ED DX B16A OBD0 Rep Power: 21	Yeah I think we are on the same page, haha. I said it was both. __________________ PSN: Korax37

09-22-2008, 06:28 PM	#14
mdpsEG Senior Member Join Date: Jun 2008 Location: north palm beach, FL Age: 29 Posts: 878 iTrader: 1 / 100% Ride: JRSC B20/vtec DC, Nissan Xterra SE Rep Power: 43	hell we are probably closer to communism than to socialism.... either way we are all screwed and this country is going downhill in a big way

09-22-2008, 09:03 PM	#16
Silverchild79 Senior Member Join Date: Nov 2002 Location: Albany, Oregon Age: 30 Posts: 6,763 iTrader: 0 / 0% Rep Power: 192	WOW I can't believe both the Dem's and the GOP sold us out be deregulating the mortgage industry in the name of campaign money I can't believe Obama was dumb enough to give a speech on TV solely blaming the republicans for this at the same time as Bill Clinton was on TV explaing that both sides of congress (to include Biden) were guilty of the actions that lead us to where we are today And I can't belive that now our governmnet thinks the best solution is to buy up everything that's bad in wall st. __________________ Did I just say something interesting or funny? Check out my blog for more... http://campassmore.wordpress.com/

09-22-2008, 10:23 PM	#20
nootrac22 Senior Member Join Date: Mar 2007 Location: PA pocono mts Age: 33 Posts: 4,002 iTrader: 1 / 100% Ride: daily driver working on 92 prelude 4ws Blog Entries: 1 Rep Power: 228	hold on to the gold. the dollar might be useful for toilet paper soon, but gold will always have value.

09-22-2008, 11:50 PM	#21
B Administrator Join Date: Nov 2007 Location: across the way Age: 29 Posts: 8,016 iTrader: 0 / 0% Ride: 318ti, dakota, genesis 2.0t Rep Power: 403	i'm not selling my gold or silver until i retire.

09-23-2008, 10:48 AM	#22
cheese9988 Senior Member Join Date: Apr 2003 Location: Rochester, NY Age: 28 Posts: 1,640 iTrader: 1 / 100% Ride: 2007 Chevrolet Cobalt SS Supercharged Rep Power: 31	Soooo as part of this $700b deal is the government: 1. Buying a stake in the bankrupt companies 2. Flat buying these companies out 3. Just being generous and handing money out or loaning money out __________________ Is it good when my dipstick is rusty on my jeep? Linux Mint 6.0 "The only man who makes no mistakes is the man who never does anything. Do not be afraid to make mistakes providing you do not make the same one twice." Theodore Roosevelt http://homemodders.com/t188/

09-23-2008, 11:08 AM	#23
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 406	buying a stake in the companies (and also trying to limit executive packages, which isn't going well from what i understand)

09-23-2008, 12:27 PM	#24
cheese9988 Senior Member Join Date: Apr 2003 Location: Rochester, NY Age: 28 Posts: 1,640 iTrader: 1 / 100% Ride: 2007 Chevrolet Cobalt SS Supercharged Rep Power: 31	Are they trying to buy more than 50% of companies stock then? If the government doesn't have control over the company, wouldn't it just be a profit gain? Ie: govt buys a ton of stock, magically the stock market rises again, govt kicks its heals over all the money it made. __________________ Is it good when my dipstick is rusty on my jeep? Linux Mint 6.0 "The only man who makes no mistakes is the man who never does anything. Do not be afraid to make mistakes providing you do not make the same one twice." Theodore Roosevelt http://homemodders.com/t188/

09-23-2008, 12:53 PM	#25
nootrac22 Senior Member Join Date: Mar 2007 Location: PA pocono mts Age: 33 Posts: 4,002 iTrader: 1 / 100% Ride: daily driver working on 92 prelude 4ws Blog Entries: 1 Rep Power: 228	heard on the radio this moring a govt watchdog group (i forgot the name) basically said that what ever the govt is saying the cost of this will be is wrong. Double it for a more realistic figure. 1.4 trillion is about equal to 1/3 of GDP

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F%@#$ bailouts