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Registered
Join Date: Mar 2004
Location: Summerville, SC
Posts: 2,057
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"The government might make money on this bailout..."
It sounds like the criminals in Washington have reached a deal with the criminals on Wall Street.
Has everyone heard the latest lies claiming that "the government might actually make money on this deal." Yea, right:  When it cost more to repair a house than the house can be sold for, or if it costs more to tear down a condemned structure than the resulting vacant lot will be worth, there is no money to be made on the deal! |
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09-28-2008, 07:25 AM
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Dog-faced pony soldier
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Even if they somehow could make money off them, the taxpayers won't see Dollar #1. That's as guaranteed as the sunrise.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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09-28-2008, 07:44 AM
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Join Date: Nov 2003
Location: West of Seattle
Posts: 4,718
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competentone, that place looks like something my wife and I looked at in the DC Metro area. Looking for a house in the under $250 range around here is a bit of a nightmare. Is the red stuff paint, or the remnants of some pagan ritual? Is the smell human feces or some animal that's been living in the kitchen? And why did the Realtor(tm) list this as a "beautiful well maintained colonial?"
(blech) Dan
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'86 911 (RIP March '05) '17 Subaru CrossTrek '99 911 (Adopt an unloved 996 from your local shelter today!) |
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09-28-2008, 02:00 PM
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Join Date: May 2008
Posts: 1,144
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Yeah they might get the same money back or a little more in 5 years. Problem is this bailout is highly inflationary and the same amount of money five years from now might get you 50 percent less in real terms.
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'87, Modified WUR, Billet valve, 965 downpipe, Kokeln intercooler, GHL headers, Garrett T04B K27 hybrid, Tial w/.8 bar, WEGO IV, RarlyL8 dual out, LSD |
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09-28-2008, 02:36 PM
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Dog-faced pony soldier
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I guarantee there's a "behind the scenes" policy right now to pump more $$$ into the system and raise inflation in order to soften the effect of deteriorating housing prices - at least on paper. Anyone who thinks otherwise is nuts - look at the evidence: huge price increases across-the-board for virtually everything, a deteriorating dollar on the world currency markets, etc. I can guarantee this is being done right now, today, regardless of what's being said out of Washington.
There was also a "re-defining" of the formula used to calculate the inflationary index reported by the GAO (those numbers are laughably low anyway). Think that's accidental? Add the $700B bailout into that equation and the incentive to print more dough is pretty enticing to the Treasury.
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A car, a 911, a motorbike and a few surfboards Black Cars Matter |
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09-28-2008, 04:38 PM
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