Episode-64- Wrap Up On Questions about the 700 Billion Dollar Bail Out — 18 Comments

  1. It seems as if the podcast was cut short. There was only 11 min and 10 seconds. I am not sure if this is an error or not. I will post about it on the forum also.

  2. Keep talking about the bailout, financial intuitions collapsing, and the general unrest on Wall street. For me this is the big push I needed to really buckle down and get serious about my preparations.

  3. ARGH!!!!
    Where is the rest of it?
    I was all set up for the lunch hour, now I’ll have to listen to “office din”

  4. I don’t know what happened, I guess the file got cut short on the upload. May be I have been hacked by the fed! I have fixed the issue but your browser may have cashed it if you listen to it via the player on the site.

    So you can clear your cashe or you may even have to do a restart. But the new file is now fixed.

  5. Seems there are some strange occurances in nature this day. Up is down. Dark is light. And our political elite rejected the bailout bill…

    Nothing makes sense anymore..

  6. It makes sense to me, I was spot on about this fake crisis it just came on Monday instead of Friday.

    We will now get a bill very soon, it will be somewhat changed but mostly what was already voted on. The congress critters are scared to death of the wrath of the sheeple. Now the crash came, it will get worse today too. Then the sheeple will baaaaa, “save us, save us” and the rejected bill will become the accepted bill.

    The scary part,

    A bill is bad

    No bill is bad

    Neither is a good thing at this point, times are going to get tough, up your preps.

  7. @Gary,

    What I meant in my comment above is now that the bill failed and the crisis have come a new bill will be passed.

    Now the sheep will freak out and beg to be saved from the market tumble and that will give the Congress the ability to pass something with out getting fired in November.

  8. I couldn’t be happier that this bill didn’t go through. Now we all need to get on the phone and threaten our reps that they will be fired if a new bill is put through.
    The alternative to a “Rescue Bill” isn’t pretty, but we have got to nut up and take what is coming. Better now than later. We have to let this system fall and rebuild it right. The longer we wait, the worse it will be.
    Time to take our medicine.

  9. Personally, I like you to get back to practical prep stuff Jack. Especially preps geared for this particular type of crisis.

    I think we all know things are going to get even worse. I’d like to hear more on getting ready for it.

    Not that I don’t appreciate your insight into this whole mess. Frankly, I need a break from it. I can’t take the talking heads yelling about how we HAVE to have this or “WE’RE ALL GOING TO DIE!!!!!!!!” any more. You’ll notice not a single major media source has said the first thing about how to deal with this. Not one of them has said, “You know what, this would be a really good time to reduce your debt load.” All they keep saying is, “You won’t be able to get a loan for a new car, or a computer, or college for your kids. WE’RE ALL GOING TO DIE!!!!” Buncha’ bloody fear mongering.

    Okay, rant’s done for now.

  10. Even though the measure failed, I feel that Congress will still pass a bailout of somekind. It seems that they don’t get that the majority of American people don’t want a bailout.

  11. I am glad the bill didn’t pass; having read some and listened to TSP, I think that though it’s not pleasant, it’s the best thing for both the US and the world at large. In Canada, the various newspapers and economists are publicly saying that “Canada doesn’t do thing the way the US did, so we’re not going to be affected in the same way”; that maybe true to a degree, though if Canadians thought about it, roughly 75% (I believe) of our export goes to the US, so if you hurt, we’re going to be hurting too. That said, we need to smarten up, tighten our belts, pay down our debts (ergo, use the Snowball method) and learn to live within our means.

  12. The 700 billion will, of course, balloon to at least twice that. Who will pay for it? The common everyday people who labor for a living, that’s who.

    It’s time the market kick to the curb companies who give CEO’s $100,000,000 a year salaries and bonuses.

  13. Jack, looking forward to the suggested podcast today on preparation in light of the bail-out package being nuked and what we can do to really start preparing and get ourselves into the right mindset.

  14. Not trying to say I support the idea of giving the money to the people but:

    700,000,000,000 / 200,000,000 =

    700,000 / 200 =

    7,000 / 2 = 3500

    $3500 not $495


  15. Actually you are correct! I am not sure how I ended up with the 495 dollar figure now, I guess I missed a zero somewhere.

    That said 3500 is not 495,000 (which is what the chain letter claimed) and again giving all the tax payers 3500 in monopoly money will devalue all the money to a point were no one “gets” anything other then run away inflation. It we did this at all it would make sense to give the money only to people that paid say at least paid in 3500 in taxes in the first place!

    The answer is simple, government, programs and incentives caused the problem. So expecting government, programs to solve the problem just isn’t logical. The solution is simple, let the market correct itself.

    Now if they want to cut spending by 750 billion and cut taxes by the same, that I am all for, that would actually work. Why? It would be the government doing LESS.

    Or how about the Ron Paul plan, cut spending to 2001 levels, then do away 100% with personal income tax. You want to see an economy surge, that would do it so fast you would not believe it.