| T O P I C R E V I E W |
| Miss Bee Haven |
Posted - Sep 29 2008 : 11:45:07 AM
My dh just called and said the House just defeated the bailout bill. Now what? I think he said stocks are dropping. This is very scary.
Farmgirl Sister #50
"If you think you've got it nailed down, then what's all that around it?"
'Br.Dave Gardner' |
| 25 L A T E S T R E P L I E S (Newest First) |
| Past Blessings |
Posted - Oct 03 2008 : 6:06:53 PM
Sheri, I agree, the problem isn't money, it is integrity. And since that seems to be harder and harder to find these days, I doubt that this debt will ever be repayed by those who borrowed it . . . this generation. We will pass on this curse to our children and the generations to come. I am so frustrated, as I feel this will solve nothing . . . the debt is larger, but the reasons for the debt . . . dishonesty, dipping where they shouldn't, living beyond what is reasonable, etc. will still continue. It seems most the people I have talked with are against it, so it makes me feel like our senators and congressmen are really not listening to the thoughts of the American people. Okay, I need to get off my soapbox and go make dinner!
Hugs & blessings,
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
| levisgrammy |
Posted - Oct 03 2008 : 5:34:13 PM
quote:
Originally posted by Sheep Mom 2
Sometimes I think our currency should read "Anything for a Buck" instead of "In God We Trust".
Sheri,
It won't be long before I'm sure it won't read "In God We Trust"
Seems we don't have money to buy oil overseas and keep gas prices down but we have money to throw at the problems here.
Whatever happen to "Made In America"? Is there such a thing anymore? It's very dis-heartening when we have to depend on other countries. Maybe if more items were made here there would be enough jobs to go around. But we are always looking for the cheap way out.
Denise
farmgirl sister #43
"Take a lesson from the teakettle, though up to its
neck in hot water...it sings!"
www.torisgram.etsy.com |
| junkjunkie |
Posted - Oct 03 2008 : 4:03:29 PM
I have mixed feelings about the passing of the bill. I guess something had to be done to get currency moving....but at what cost?? The pork palace will never go away, and I wonder if the hold outs of passing the bill were waiting for a sweeter deal for themselves? I know that sound cynical, but it's hard to trust anyone anymore. If this bailout is abused by the leeches of some of our politicians, and corporations and other special interest groups, I'm afraid that's that....there will be no second chances.
"To have life in focus, we must have death in our field of vision." Benedictine monk John Main |
| therusticcottage |
Posted - Oct 03 2008 : 3:58:51 PM
I was watching Fox Business Channel this afternoon and Mike Huckabee was on there talking about the bailout bill. He did not have many good things to say and doesn't believe that it will solve anything. The only thing he did say was that it will leave debt for our children and grandchildren. In that light - and it goes along with everything Brenda said - I not sure it's a good thing that it passed. Other news today was the unemployment rate. But at least the House passed an unemployment extension bill - let's hope the senate does too. My unemployment is about to run out and no job in sight!
Handmade Soap and More! - http://therusticcottage.etsy.com
The Rustic Cottage Blog http://therusticcottage.blogspot.com
PROUD FARMGIRL SISTER #100 |
| Sheep Mom 2 |
Posted - Oct 03 2008 : 3:13:27 PM
They passed the bail out today. This is good and bad. Good that our economy and that of the rest of the world won't crash. Bad because of all the added pork on the bill plus the amount of debt it adds to our already sky rocketing debt. This is not a money problem. This is an integrity problem and it goes from the very top to the very bottom of our society. Until people realize that money solves nothing we will have more of the same. As I listen to the various discussions and analysis going on I came to the conclusion that everyone thinks if you throw money at something that's the only action needed. This even includes education. We've thrown a lot of money at it and still the schools don't seem to be able to get the job done. We have this upside down. It's people first, money second, stuff third. When we quit being a society that was based on agriculture and industry and moved to one based on service industries we gave all our power away. Now we are at the mercy of the world economy because we don't manufacture most of our most basic items. When I went to the grocery store last week and went to buy garlic, the garlic cloves were grown in China when I live in an area that grows mega garlic! How does that make sense? Our economy will never be truly secure until we are willing to pay more to have things that are grown or manufactured here. WalMart was based on "made in America" at one time and now that couldn't be further from the truth. We need to start being honest with ourselves. Sometimes I think our currency should read "Anything for a Buck" instead of "In God We Trust". We need to get back to basics - buying Made in America means job security and national security. Maybe we would have to pay more for our consumer goods but we would have the jobs to pay for it. It's time to start thinking outside the box for a change and get some new ideas rolling instead more of the same. Deregulation hasn't worked since it's inception in the 80's and trickle down definately doesn't work unless you are referring to tax burden. Just my opinion and I'm no economist and I don't claim to understand the finite details of economics. A lot of the products we enjoy today came out of making do on the farm - after all, necessity is the mother of invention. Let's see if we can apply that principal to this financial mess as well. |
| Past Blessings |
Posted - Oct 02 2008 : 8:37:38 PM
Yes, we are very unfortunate that we are a credit driven society. That needs to change. But what you are advocating is taking a loan so that we can create more loans. It will truly just add to the decline of our nation financially. I understand that many people will have some tough times ahead, with home foreclosures, job losses, etc. and there is no easy answer here. But why should we jeopardize the future of our children and grandchildren because of overspending of our generation? I think we need to tighten our belts, learn what is need and not simply want, and hold everyone . . . Wall Street or not, accountable and force honesty. I guess I still hold true the old bible verse: An evil man borrows and does not repay his debtors. How do you suppose we would ever repay our country . . . namely our future generations. It simply is not right for us to borrow from tomorrow's Americans. Just my opinion and soapbox too! It is interesting to hear all the different ideas and thoughts. Regardless, being a frugal farmgirl is something I think we all should be proud of!
Hugs & blessings,
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
| therusticcottage |
Posted - Oct 02 2008 : 1:05:46 PM
I don't like this situation either. However, it is something that has to be done. This goes far beyond bailing out Wall St. The money is needed to free up the credit of banks. Right now there is very little to no credit - no loans for houses, cars, student loans, etc. Unfortunately we are country that is credit driven. What happens to the car dealership if no one can get loans for cars?? It closes and people are without jobs. What happens when your son or daughter wants to go to college and needs to get a student loan? They can't go because there is no money to loan. If this bill is not passed we will see a financial situation much worse than what we're seeing now. It is a no win situation either way - either the bill passes and the taxpayers are in debt or the bill doesn't pass and we go into a worse financial situation than we are in now. Just my opinion and now I'll get off my soapbox!
Handmade Soap and More! - http://therusticcottage.etsy.com
The Rustic Cottage Blog http://therusticcottage.blogspot.com
PROUD FARMGIRL SISTER #100 |
| Past Blessings |
Posted - Oct 02 2008 : 10:32:31 AM
Grumble, grumble . . . they are now trying to pass a second version of the Bailout . . . still a 700 billion dollar debt mind you . . . they think they can re-word it and somehow make the debt seem like a good thing. Can't wait to tell my children, "Look at all the debt your country just handed you and your future children . . . but never mind that . . . see how prettily it is packaged?!"
Hugs & blessings,
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
| laluna |
Posted - Oct 01 2008 : 5:24:36 PM
While we're posting links, here's another to my one of my favorite radio shows with a very smart woman who makes a lot of sense, an she's had plenty to say about the bail-out fiasco: http://www.therandirhodesshow.com/
"I believe in God, only I spell it Nature." -- Frank Lloyd Wright |
| K-Falls Farmgirl |
Posted - Oct 01 2008 : 07:48:03 AM
Thanks Stephanie.. Appreciate the info,
Cheryl #309
Farm girl sister
Keep life simple, to Simply live. Life is too short to worry about it. |
| miss wilma |
Posted - Oct 01 2008 : 07:39:48 AM
You are right there, an old doctor told me one time most things will come and go but the land will always be there
Farm Girl #96
http://www.picturetrail.com/misswilmasplace
http://misswilma.blogspot.com/ |
| Miss Bee Haven |
Posted - Oct 01 2008 : 07:00:30 AM
Amen, Miss Wilma! If I had been able to keep the money they've made me contribute to their bogus fund, I'd be finished with the farmhouse and ready to move in!!!! I've always had more faith in putting my money in land than in some stupid paper fund!
Farmgirl Sister #50
"If you think you've got it nailed down, then what's all that around it?"
'Br.Dave Gardner' |
| miss wilma |
Posted - Oct 01 2008 : 06:57:55 AM
You are right Janice I dont need big daddy to take care of my money either, I AM A FARM GIRL SO THAT MAKES ME MORE QUALIFIED, to take care of myself
Farm Girl #96
http://www.picturetrail.com/misswilmasplace
http://misswilma.blogspot.com/ |
| Miss Bee Haven |
Posted - Oct 01 2008 : 06:53:01 AM
What has saddened me the most this week is what has happened to my friends and coworkers here. We are forced to contribute to a 'retirement' fund (TIAA). I was told I'd be fired when they first began this thing 20 or so years ago if I didn't 'join'. I said then and I've said over and over down through the years that I don't need a 'daddy' to manage my money and that I feel I should have dominion over my own finances, sink or swim. As it has turned out, I was right. My co secretary was going to retire next June, but her retirement account lost so many thousands of dollars in one day last week, that her retirement is seriously in doubt.
Farmgirl Sister #50
"If you think you've got it nailed down, then what's all that around it?"
'Br.Dave Gardner' |
| palmettogirl |
Posted - Oct 01 2008 : 06:43:14 AM
what i find interesting are all the "threats" that are going to happen to the "main street" population if the bill doesn't get passed. well, nothing happened last friday (when they initially said everything would crash) ...on monday, the market went down, BUT, went back up tuesday (all those gamblers on wall street couldn't help themselves from buying low and running it back up so they could sell higher/make more invisible money$$!!) this is such a joke, yesterday on the news, bankers from kansas were calling in saying that they have money to lend...?? and one guy said that 40% of his bank was in mortgages and he has no forclosures to report. this is strictly the big shots on wall street who want to be bailed out with our money. oh, and the best excuse/reason they can come up with to get the american people to tell their congressmen to approve this is "you won't be able to get a car loan?" people who are good, decent and responsible will still be able to get $$, and the people who are not financially stable enough, or have a past history of bad credit risk will have trouble getting $, but those are the people who probably shouldn't get it anyway cause they'll most likely lose it again. common sense! |
| queenofdreamsz4u |
Posted - Sep 30 2008 : 9:23:59 PM
Thanks Cheryl! I've furnished links for those of you that are interested.
Here's Dave's show on the Fox Business Network
http://www.daveramsey.com/etc/cms/dave_fox_business_network_7703.htmlc
You can listen to his radio show online...it's broadcast from my hometown of Nashville, Tennessee :0)
http://www.daveramsey.com/radio/home/
And here is the Fox Business Network...lots of it streams online
http://www.foxbusiness.com/markets/economy.html
Here is the national Fox News website:
http://www.foxnews.com/
Stephanie
www.queenofdreamsz.blogspot.com ~~~Crochet, Sewing, Life Collections & Recollections Blog
www.dreamkingdomdesigns.blogspot.com Vintage & Modern Fabric, Fiber & Yarn Blog
www.dreamkingdomdesigns.com ~~~~~Go Shopping at my Website Catalog!! |
| Past Blessings |
Posted - Sep 30 2008 : 8:27:50 PM
I still want Miss Wilma to run for president . . . are you still promising me a place on your cabinet?!!
Hugs & blessings,
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
| herbquilter |
Posted - Sep 30 2008 : 8:12:29 PM
I love Dave Ramsey's common sense. I hope he's appointed to US Treasary in the cabinet.
Blessings,
Kristine ~ Mother of Many, MRET & Wellness Coach
http://herbalmommasda.blogspot.com/
Farmgirl Sister #97
|
| K-Falls Farmgirl |
Posted - Sep 30 2008 : 5:22:20 PM
Here's a thought. Anyone listen to Dave Ramsey?
The Common Sense Fix
Years of bad decisions and stupid mistakes have created an economic nightmare in this country,
but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support
any congressperson who votes to implement such a policy. Instead, I submit the following threestep
Common Sense Plan.
I. INSURANCE
a. Insure the subprime bonds/mortgages with an underlying FHA-type insurance.
Government-insured and backed loans would have an instant market all over the
world, creating immediate and needed liquidity.
b. In order for a company to accept the government-backed insurance, they must do two
things:
1. Rewrite any mortgage that is more than three months delinquent to a
6% fixed-rate mortgage.
a. Roll all back payments with no late fees or legal costs into the
balance. This brings homeowners current and allows them a
chance to keep their homes.
b. Cancel all prepayment penalties to encourage refinancing or
the sale of the property to pay off the bad loan. In the event of
foreclosure or short sale, the borrower will not be held liable
for any deficit balance. FHA does this now, and that
encourages mortgage companies to go the extra mile while
working with the borrower—again limiting foreclosures and
ruined lives.
2. Cancel ALL golden parachutes of EXISTING and FUTURE CEOs and
executive team members as long as the company holds these
government-insured bonds/mortgages. This keeps underperforming
executives from being paid when they don’t do their jobs.
c. This backstop will cost less than $50 billion—a small fraction of the current proposal.
II. MARK TO MARKET
a. Remove mark to market accounting rules for two years on only subprime Tier III
bonds/mortgages. This keeps companies from being forced to artificially mark down
bonds/mortgages below the value of the underlying mortgages and real estate.
b. This move creates patience in the market and has an immediate stabilizing effect on
failing and ailing banks—and it costs the taxpayer nothing.
III. CAPITAL GAINS TAX
a. Remove the capital gains tax completely. Investors will flood the real estate and stock
market in search of tax-free profits, creating tremendous—and immediate—liquidity in
the markets. Again, this costs the taxpayer nothing.
b. This move will be seen as a lightning rod politically because many will say it is helping
the rich. The truth is the rich will benefit, but it will be their money that stimulates the
economy. This will enable all Americans to have more stable jobs and retirement
investments that go up instead of down.
This is not a time for envy, and it’s not a time for politics. It’s time for all of us, as Americans, to
stand up, speak out, and fix this mess.
Cheryl #309
Farm girl sister
Keep life simple, to Simply live. Life is too short to worry about it. |
| miss wilma |
Posted - Sep 30 2008 : 2:18:28 PM
Brenda that is exactly how I see it.
Farm Girl #96
http://www.picturetrail.com/misswilmasplace
http://misswilma.blogspot.com/ |
| Past Blessings |
Posted - Sep 30 2008 : 12:53:03 PM
I am told that the bail out would be the equivalent of giving each American household $550,000!!! So why not do that instead!!?? This would cause people to spend money again . . . strengthening all those wimpy companys on Wall Street and bringing the economy back around. Us farmgirls could certainly make that money go a lot further, don't ya think?! Just giving it to the villains on Wall Street would have been insane. I truly don't want the government giving anyone any more loans . . . did we forget all the loans we have taken from other countries?! And yet we are considering loaning money we don't have??!! Duh! Thank goodness this bailout failed. We would be so wrong to pass on such a debt to our children and grandchildren. I just pray that some of the common sense of the original founders of America can somehow be restored. Honest hard work is the ethic we as a country need to be seeking after.
Hugs and blessings,
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
| miss wilma |
Posted - Sep 30 2008 : 05:45:36 AM
Aunt Jenny I cant understand why people think they have to have so much credit.We have borrowed money thru the years but never without a good collateral for paying it back and never very much and always worked as fast as we could to pay it off, weve never tried to live like the Jones but we never had to worry about having a roof over our heads, this borrowing more money on the equity of your home is crazy,If you cant pay for what you done have how is borrrowing more money going to help. I am not for the bailout, if it goes thru we are going to be taxed to death.You know farmers are looked down on but I would take a farmer anyday when it comes to finances and some of them have jumped on the credit wagon
Farm Girl #96
http://www.picturetrail.com/misswilmasplace
http://misswilma.blogspot.com/ |
| Aunt Jenny |
Posted - Sep 29 2008 : 9:58:08 PM
Personally....I would like to live in Paigetopia..haha.
I think it sounds like we are all in pretty close agreement on this one. There has to be a better plan!
Jenny in Utah
Proud Farmgirl sister #24
Inside me there is a skinny woman crying to get out...but I can usually shut her up with cookies
http://www.auntjennysworld.blogspot.com/ visit my little online shop at www.auntjenny.etsy.com |
| K-Falls Farmgirl |
Posted - Sep 29 2008 : 9:07:34 PM
Applauding!!! Here Here.. Thank You Luna..
Cheryl #309
Farm girl sister
Keep life simple, to Simply live. Life is too short to worry about it. |
| Alee |
Posted - Sep 29 2008 : 6:05:28 PM
Thank you for posting that article Luna. This is all such an interesting situation. This sure is a historic time in our country's history!!
Alee
Farmgirl Sister #8
www.awarmheart.com
Please come visit Nora and me on our blog: www.farmgirlalee.blogspot.com
Put your pin on the farmgirl map! www.farmgirlmap.blogspot.com |
