Comments on: But What If It Works? http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/ Wed, 18 Nov 2009 17:06:37 -0500 http://wordpress.org/?v=2.8.5.2 hourly 1 By: Nick Cellini http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-2/#comment-1391 Nick Cellini Wed, 18 Feb 2009 20:44:30 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1391 Nothing in life can be successful without optimism and confidence. Wether the stimilus plan is effective or not, a positive outlook can and will make it better. Consumer confidence drives the economy not necessarily logic. Another perspective is that all the bad ideas implemented during the depression must have worked eventually, because it ended. Nothing in life can be successful without optimism and confidence. Wether the stimilus plan is effective or not, a positive outlook can and will make it better. Consumer confidence drives the economy not necessarily logic. Another perspective is that all the bad ideas implemented during the depression must have worked eventually, because it ended.

]]> By: TERRY LIPAK http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1377 TERRY LIPAK Mon, 16 Feb 2009 12:56:01 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1377 LIZ, LOVE YOU DEARLY BUT YOU KNOW THAT YOU CAN NOT SPEND MONEY YOU DO NOT HAVE. THE UNITED STATES IS USING A GIANT CREDIT CARD THAT WILL SOON COME DUE. IS THIS NOT THE REASON WE ARE NOW IN TROUBLE? MY FATHER WHO LIVED DURING THE DEPRESSION ONCE ADVISED, DO NOT LIVE BEYOND YOUR MEANS(MONEY). LIZ, LOVE YOU DEARLY BUT YOU KNOW THAT YOU CAN NOT SPEND MONEY YOU DO NOT HAVE. THE UNITED STATES IS USING A GIANT CREDIT CARD THAT WILL SOON COME DUE. IS THIS NOT THE REASON WE ARE NOW IN TROUBLE? MY FATHER WHO LIVED DURING THE DEPRESSION ONCE ADVISED, DO NOT LIVE BEYOND YOUR MEANS(MONEY).

]]> By: Shawn http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1376 Shawn Sun, 15 Feb 2009 17:23:37 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1376 Watch! This is going to lead to the perfect opportunity to devalue our currency and wipe out all of that debt. Watch! This is going to lead to the perfect opportunity to devalue our currency and wipe out all of that debt.

]]> By: Matt Bennett http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1366 Matt Bennett Fri, 13 Feb 2009 21:40:50 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1366 Wasn't spending more than we had and getting into debt up to our eyeballs one of the causes of the economic tight spot? I respectfully disagree, that's not what got us here. The financial derivatives market based upon mortgage-backed securities backed by assets that were over-valued caused this financial meltdown. The fault lies entirely upon so called financial "gurus" who believed in periodic lowering of the federal interest rate and sub-prime asset-backed secure lending, and that the entire mortgage backed derivatives market were capable of "self-regulation". In other words, Greenspan was asleep at the wheel and the bankers noticed that the babysitter was asleep (mixed too many metaphors, didn't I?) Greenspan himself admitted he wsn't even paying attention, he said that he didn't understand the breadth of the financial derivatives market until 2005 and even then he didn't understand the complexities of the derivatives market. The fault doesn't lie in our consumer debt, on individual mortgage holders, or upon anyone in the govt unless they were directly responsible for the financial deregulations of the past 20 years, the lack of oversight, and the constant interest rate lowering (it could have been prevented if Greenspan stopped lowering the rate years ago). Sorry, I don't mean to ambush you, but for three years I've been running around like chicken little telling people that the mortgage bubble was about to burst and the consequences would be dire and no one listened to me. I'm so sorry to find that I was right. BTW, when the govt builds things, civilians benefit. Govt rebuilds the national mall (only the most popular destination for foreign tourists) we employ out of work builders, building materials suppliers, the transportation industry, the food industry and we improve a popular tourist destination to encourage old visitors to visit again. Wasn't spending more than we had and getting into debt up to our eyeballs one of the causes of the economic tight spot? I respectfully disagree, that's not what got us here.

The financial derivatives market based upon mortgage-backed securities backed by assets that were over-valued caused this financial meltdown. The fault lies entirely upon so called financial "gurus" who believed in periodic lowering of the federal interest rate and sub-prime asset-backed secure lending, and that the entire mortgage backed derivatives market were capable of "self-regulation". In other words, Greenspan was asleep at the wheel and the bankers noticed that the babysitter was asleep (mixed too many metaphors, didn't I?) Greenspan himself admitted he wsn't even paying attention, he said that he didn't understand the breadth of the financial derivatives market until 2005 and even then he didn't understand the complexities of the derivatives market.

The fault doesn't lie in our consumer debt, on individual mortgage holders, or upon anyone in the govt unless they were directly responsible for the financial deregulations of the past 20 years, the lack of oversight, and the constant interest rate lowering (it could have been prevented if Greenspan stopped lowering the rate years ago).

Sorry, I don't mean to ambush you, but for three years I've been running around like chicken little telling people that the mortgage bubble was about to burst and the consequences would be dire and no one listened to me. I'm so sorry to find that I was right.

BTW, when the govt builds things, civilians benefit. Govt rebuilds the national mall (only the most popular destination for foreign tourists) we employ out of work builders, building materials suppliers, the transportation industry, the food industry and we improve a popular tourist destination to encourage old visitors to visit again.

]]> By: Matt Bennett http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1365 Matt Bennett Fri, 13 Feb 2009 21:21:20 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1365 I pray it works. I own a small business with a family of employees and we only have enough capital to stay afloat for another 4 weeks, forget about profit. I haven't taken a salary in 4 months to keep it running and we're living off of savings. We're hoping the temporary infusion of money into govt projects will mean that we can sell to the govt and survive until the credit markets unfreeze. The long term plan of giving us "tax breaks" only works when we're profiting (which we were for 8 straight years). How do tax breaks help us when we have no profits? By the time tax breaks could revive the economy, we'll be out of business, and then it'll just be another 6 months before we run out of our savings to keep our home. I pray it works. I own a small business with a family of employees and we only have enough capital to stay afloat for another 4 weeks, forget about profit. I haven't taken a salary in 4 months to keep it running and we're living off of savings. We're hoping the temporary infusion of money into govt projects will mean that we can sell to the govt and survive until the credit markets unfreeze. The long term plan of giving us "tax breaks" only works when we're profiting (which we were for 8 straight years). How do tax breaks help us when we have no profits? By the time tax breaks could revive the economy, we'll be out of business, and then it'll just be another 6 months before we run out of our savings to keep our home.

]]> By: Ward http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1364 Ward Fri, 13 Feb 2009 18:31:47 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1364 What if this thing works? What? You, the media think it will work; that is why we, the average American, knows it will not work. This is the fourth bailout/stimulas put out of congress and things are worse than ever. Capitalism works; socialism punishes those who do work. And that is why it will not WORK. What if this thing works? What? You, the media think it will work; that is why we, the average American, knows it will not work. This is the fourth bailout/stimulas put out of congress and things are worse than ever. Capitalism works; socialism punishes those who do work. And that is why it will not WORK.

]]> By: freddy da freeloader http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1363 freddy da freeloader Fri, 13 Feb 2009 17:52:44 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1363 ...but what if the moon were made of green cheese?? …but what if the moon were made of green cheese??

]]> By: Bill http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1362 Bill Fri, 13 Feb 2009 15:42:10 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1362 EmpFab Let's hear your specific suggestions, I don't recall seeing any recommendations, only criticizing what has been done.?? EmpFab
Let's hear your specific suggestions, I don't recall seeing any recommendations, only criticizing what has been done.??

]]> By: Greg Scott http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1361 Greg Scott Fri, 13 Feb 2009 15:00:05 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1361 22-56 Months from now this recession will be over - when it ends we will not be looking back to see what worked. Politicians will scurry to say that they did the right thing and bend the facts to suit their philosophy - The faster we turn away from D.C. and back to NYC for financial leadership the better off all of us will be. 22-56 Months from now this recession will be over – when it ends we will not be looking back to see what worked. Politicians will scurry to say that they did the right thing and bend the facts to suit their philosophy – The faster we turn away from D.C. and back to NYC for financial leadership the better off all of us will be.

]]> By: gfalcon http://liz.blogs.foxbusiness.com/2009/02/12/but-what-if-it-works/comment-page-1/#comment-1360 gfalcon Fri, 13 Feb 2009 14:36:16 +0000 http://liz.blogs.foxbusiness.com/?p=160#comment-1360 the problem is, what and see ,and that is all we can do because this is done.unfortunately a 13 yr old is right{on this blog}how is he going to pay for it.it will be along time repairing because the old routine of buy now and pay later has just hit anew extreme and getting something for nothing still doesnt work.on the same token no matter what happens the politicians are NEVER wrong(cya).I have to take care of my family first today and in the future as a reponsible adult .On that note the government failed to analyze their customers needs for now and 4yrs done the road(cash is king and queen) the problem is, what and see ,and that is all we can do because this is done.unfortunately a 13 yr old is right{on this blog}how is he going to pay for it.it will be along time repairing because the old routine of buy now and pay later has just hit anew extreme and getting something for nothing still doesnt work.on the same token no matter what happens the politicians are NEVER wrong(cya).I have to take care of my family first today and in the future as a reponsible adult .On that note the government failed to analyze their customers needs for now and 4yrs done the road(cash is king and queen)

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