The BailOUT bill, what do you guys think? + rant
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phyregod
!!YTINASNI
I think the bailout should not happen. This only encourages more shitty behavior. Let the companies that played with fire burn. We don't need them fuxoring up our market anymore.
Maybe they'll think about re-structuring the way credit works. Yes, there is a bagillion dollars to be made off of credit cards, loans, etc.. But Its just fucking the consumer over. Irresponsible people are overextending themselves, living with a couple of nice cars, nice house, putting food on the table, and having enough left over for a package of bubble gum, every pay check. Sounds great! Except that noone is saving for retirement or crisis. Somone in the family gets hurt and the house gets forclosed, the cars get repo'd, and they're back in a shit hole apartment because they had no savings. They lean on the government for rent and food stamps. I can only immagine what is going to happen here in about 20-30 years when baby boomers and Gen X start wondering what the fuck to do about retirement. Of course they are going to lean on the government to bail them out. And the govt will bail them out, and they will send the bill to the tax payers for it. This whole system is Fucked.
Maybe they'll think about re-structuring the way credit works. Yes, there is a bagillion dollars to be made off of credit cards, loans, etc.. But Its just fucking the consumer over. Irresponsible people are overextending themselves, living with a couple of nice cars, nice house, putting food on the table, and having enough left over for a package of bubble gum, every pay check. Sounds great! Except that noone is saving for retirement or crisis. Somone in the family gets hurt and the house gets forclosed, the cars get repo'd, and they're back in a shit hole apartment because they had no savings. They lean on the government for rent and food stamps. I can only immagine what is going to happen here in about 20-30 years when baby boomers and Gen X start wondering what the fuck to do about retirement. Of course they are going to lean on the government to bail them out. And the govt will bail them out, and they will send the bill to the tax payers for it. This whole system is Fucked.
4U2H8ME
Beer its whats for dinner
F***'em! Let them fall, either way we tax payers are the ones that will have to carry the burden regardless. Those corporate bastard ceo's who recieved millions and billions in bonuses aren't losing any sleep! They should be made to pay back those bonuses for letting this crap happen!!
I was listening to Rush today... he had some interesting comments.
Apparently in 2006, there were 33,000,000 mortgages in the US. (33 million).
With this 700 billion dollar bail out; the US government could pay off ALL of the mortgages that are worth 75,000 or less... or they could pay off half of the mortgages of 100,000 or less.
Why the fuck does someone who doesn't know how to manage money and risk get this? How do they deserve it?
You know what the hell I could do and buy with not having to pay a mortgage?! Talk about stimulating the economy.
Apparently in 2006, there were 33,000,000 mortgages in the US. (33 million).
With this 700 billion dollar bail out; the US government could pay off ALL of the mortgages that are worth 75,000 or less... or they could pay off half of the mortgages of 100,000 or less.
Why the fuck does someone who doesn't know how to manage money and risk get this? How do they deserve it?
You know what the hell I could do and buy with not having to pay a mortgage?! Talk about stimulating the economy.
here's the thing...
the bail out is not to save the companies... it's to save the worlds economy. Imagine a world where there is no such thing as credit for ANYONE.
it's not just loans either...
mom and pop diner who buy from sysco on PO, and pay monthly... won't happen.
staples business delivery for paper supplies, etc etc...
want something online? can't use a credit card. gotta mail in a check, wait a week for it to get there, wiat a week for it to process, wait a week for your item.
THATS what they are trying to save.
As for john's comment about 35k getting 120k loans... i see nothing wrong with it.
When i bought my condo (152k) i was making 40k a year.
And had my $530 STi payment on top of it.
I never missed a payment, was never late, and in fact, i over-payed every month to bring my principle down.
But, you are correct about interest owning you.
All said and done, my house will cost my 1.3 million dollars when i'm done paying for it.
out of my $2800-odd payment, $78 goes to principle right now. lol
the bail out is not to save the companies... it's to save the worlds economy. Imagine a world where there is no such thing as credit for ANYONE.
it's not just loans either...
mom and pop diner who buy from sysco on PO, and pay monthly... won't happen.
staples business delivery for paper supplies, etc etc...
want something online? can't use a credit card. gotta mail in a check, wait a week for it to get there, wiat a week for it to process, wait a week for your item.
THATS what they are trying to save.
As for john's comment about 35k getting 120k loans... i see nothing wrong with it.
When i bought my condo (152k) i was making 40k a year.
And had my $530 STi payment on top of it.
I never missed a payment, was never late, and in fact, i over-payed every month to bring my principle down.
But, you are correct about interest owning you.
All said and done, my house will cost my 1.3 million dollars when i'm done paying for it.
out of my $2800-odd payment, $78 goes to principle right now. lol
cjvictoria
Active Member
this is why im joining the army.
the money will always be in military. no doubt about that.
it's the most stable as far as job security, and benefits.
priority = defense = im paid
the money will always be in military. no doubt about that.
it's the most stable as far as job security, and benefits.
priority = defense = im paid
cjvictoria
Active Member
Well, it depends on a variety of factors, other financial, interest rate, family/single, insurance, savings, etc...ideally yea, it would be ok, until say, you get hospitalized, your engine blows up. IMO you should keep monthly payments around a quarter of your monthly income, so I guess 120k w/ 35k would be managable.
Interest rates are just obscene. The difference in my payments between a 15 year, and 30 year is only $87 per month, but at the end of the 30 years, it's a cost difference of well over 50,000 0.o
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K2e2vin
Senior Member
You should definitely talk to guys in the military. I know a couple, and they're not really making more than if they were to stay out of the military. Most of them went because they didn't know what they wanted to do after high school. The only people who make a decent living are those that stay in the military(as in that's their career). If anything, contractors hired by the military/government get a much better wage.
The problem is, there isn't a 700B to give to the bailout, or to spread around America, we just don't have the money.
K2e2vin said:
At first yea, the pay isn't great, BUT, if you're married, or want a house, to go back to school, or a car, it is an awesome opportunity. You can't just look at the paycheck, you have to look at the package, medical/dental, food, housing, a clothing allowance. If you're single until you are an E5 you pretty much have to live in barracks, after that you can live off post, well, at least at my base, it may be different in the states. When you are marreid, the military basically pays for everything, house payments, COLA (cost of living allowance). I added some things up when I was an E4, and I was basically make about $48,000 a year at station, during deployments that went a lot higher, especially in a combat zone. Yea, hourly it's nothing if you're deployed for a year, but you stop thinking like that after a while.
dont forget the sex. military folks fuck more than porn stars.
+1 on the military. Most of the guys I work with are former military, with tech school training. Average pay $40k-$50k depending on experience.
Domi31
Member
If you want to make money in the military. First go to college, then go to Officer School then get paid. Enlistes out of high school dont make shit!! My brother is a career military man (Navy) and he was and enlisted out of high school. He told me his pay at first was no better then Min-wage. He makes good money now but he is pretty high up in rank after 10yrs in. But if he could do it again, he would want to get his degree and be an Officer.
INJEN78
HS LEGEND
i said the exact same thing in another thread probably 4-5 mnths ago and got shit on!!!
what about for a car? It must be nice to still be young and see this advice before hand. I remember back when I was making 5.25 an hour and ended up with over 2k in my checking account... and not having any bills. I miss those days.
phyregod
!!YTINASNI
Car: Buy something you can afford. Cash. No, its not going to be pretty.
Make a monthly car payment to yourself in a savings account. Every month, just like you would had you purchased a car via credit. Drive said car until the wheels fall off. Check out your car account. Instead of going into debt and paying interest, you are saving for a new car and being PAID to do it via interest. Trade in that piece of shit and get a decent $8000 car. Do the same thing. After several years, you'll be paying cash for $30k cars. Making money on it the whole time, not paying interest, and getting a kick ass deal on the purchases because you are paying cash.
Make a monthly car payment to yourself in a savings account. Every month, just like you would had you purchased a car via credit. Drive said car until the wheels fall off. Check out your car account. Instead of going into debt and paying interest, you are saving for a new car and being PAID to do it via interest. Trade in that piece of shit and get a decent $8000 car. Do the same thing. After several years, you'll be paying cash for $30k cars. Making money on it the whole time, not paying interest, and getting a kick ass deal on the purchases because you are paying cash.
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