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  1. #21
    mrs disregard's Avatar
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    Oh..

    Thanks Modern Nomad.

  2. #22
    Senior Member Lateralus's Avatar
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    This could spiral into a depression if the Fed makes the wrong move, like it has in the past.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  3. #23
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    Quote Originally Posted by Lateralus View Post
    This could spiral into a depression if the Fed makes the wrong move, like it has in the past.

  4. #24
    mountain surfing nomadic's Avatar
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    Quote Originally Posted by disregard View Post
    Oh..

    Thanks Modern Nomad.
    thats a best case scenario. its difficult to see the effects from what the media tells you, unless you run your own business and depend on lending and borrowing to some degree for employee's wages, paying bills, paying insurance, paying taxes, letters of credit, lines of credit to buy/get paid for goods, etc...

  5. #25
    Senior Member Eileen's Avatar
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    Quote Originally Posted by Jack Flak View Post
    I laugh at your "J" rhetoric.
    And I weep at the piles and piles of papers that you would laugh at if you saw what I have to do.

    And yet.
    Here I am.
    Last edited by Eileen; 09-29-2008 at 02:01 PM. Reason: grammmarrrr
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    "I can never be what I ought to be until you are what you ought to be. You can never be what you ought to be until I am what I ought to be. This is the interrelated structure of reality." -Martin Luther King, Jr.

  6. #26
    Seriously Delirious Udog's Avatar
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    Problem is, if this bill didn't work (very possible, as it's based on the same principles that got us in this mess), things would still eventually crash and dilute the value of the dollar in the process. This would only postpone the inevitable.

    I mean, I tend to agree that something has to be done, but a knee jerk reaction when we haven't really acknowledged the root of the problem doesn't seem helpful to me.

  7. #27

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    I think there is more to this story than meets the eye.

    Notice that the Dow lost a lot of it's value before the vote.

    But also notice the zero volume from 1:41PM to 1:58 PM.

    House Bailout Vote Fails!-dow-bail-news-jpg

    Does anyone know exactly when the House deliberated and voted on this?
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    Accept the past. Live for the present. Look forward to the future.
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    "[A] scientist looking at nonscientific problems is just as dumb as the next guy." Richard Feynman
    "[P]etabytes of [] data is not the same thing as understanding emergent mechanisms and structures." Jim Crutchfield

  8. #28
    Senior Member Lateralus's Avatar
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    The root of the problem is the Federal Reserve. We're not going to do anything about that. Obama talks about giving the Fed MORE power...
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  9. #29
    Content. Content? DigitalMethod's Avatar
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    We should all gather on an island some where and form a MBTIc community. Self supporting. We could set each person in a certain job according to their type. Our efficiency would rival that of a small country. Just don't bring any Kool-aid please.
    "The life of the individual has meaning only insofar as it aids in making the life of every living thing nobler and more beautiful."
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  10. #30
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by Modern Nomad View Post
    its going to affect some people's jobs at some point down the line. People who work for non financial companies that are borderline on layoffs too...

    imagine the small business owner (possibly your boss) trying to make payroll, but his debtors can't pay him, and the banks won't lend him money.

    small business owners will feel the affects pretty soon.
    It'll hit big first.

    First, you might hit a liquidity trap. The small business there might get squeezed, but it'll be the public companies that get hit first (they tend to have debt convents they have to meet). See: AIG.

    Second, there will be less money being transferred, which means that the use of money will decrease. This will cause a few major problems, namely like the liquidity trap, money will be harder to re-raise to cover existing debt, and with that comes an end of existing businesses

    Third, it will be harder to raise money for capital projects, meaning projects that would of been financed are not (and they almost all are!). This means less business across the board (this hits small businesses too, either directly or in terms of trickle-down).


    Great time to be a long term investor though. Just wish I had income to divert for buying. Ah well.

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