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Bailout funds . . .

(23 posts)
  • Started 5 years ago by BobJam
  • Latest reply from Scott
  • Topic Viewed 1463 times

BobJam
BobJam
Posts: 1052

I want to know where the money is coming from and who it’s going to. These are very large numbers, so the allotments can be easily “lost” in the accounting.

Is there some lowly accountant greenshade guy somewhere that is writing billion dollar bailout checks to AIG, Fannie May, etc.? And is he saying, “Oh, I guess I’ll get 400 billion from the Social Security Trust Fund, another 100 billion from increased taxes, just print another 100 billion, and another 100 billion out of the DOD budget when we stop sending troops to Iraq”?

I mean whose writing the checks and balancing the checkbook?

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

For some reason this post isn't showing up in the main screen of recent posts. Trying to bump it here.

Posted 5 years ago
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Scott
Scott
Posts: 5618

This is a good source of information and dissemination,

http://www.rgemonitor.com/

"Can Central Banks Go Broke? Fed Refuses To Disclose Collateral Composition And Recipients Of $2.8 Trillion Loans
Print

Nov 24: The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the U.S. GDP, to rescue the financial system since the credit markets seized up 15 months ago. Bernanke’s Fed is responsible for $4.4 trillion of pledges, or 60 percent of the total commitment of $7.4 trillion. The unprecedented pledge of funds includes $2.8 trillion already tapped by financial institutions. The commitment dwarfs the only plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program (TARP)--> Regulators refuse to disclose who is receiving how much while Congress starts pushing for transparency and give authority over taxpayer money back to elected officials."

edited to get right to the point.

Here comes the TALF, here comes the TALF...

Posted 5 years ago
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LH
LH
Posts: 20002

If I may ask. How is the recent, massive, base interest rate cut, by the Bank of England, affecting my friends in the USA ?

Posted 5 years ago
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Scott
Scott
Posts: 5618

Cheaper pounds vs. the dollar will help US tourists and British conglomerates with sales in dollars.
With most countries devaluing their currencies (today China) the dollar has seen recent strength.

With the crisis now globalized, there has been a flight to dollars even though US inflation will have to be reckoned with down the road.

Posted 5 years ago
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LH
LH
Posts: 20002

Thanks Scott yes, but does it make a difference to "the man in the street"?
I do know it's costing me, but then what else is new ?

Posted 5 years ago
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Scott
Scott
Posts: 5618

Probably not. How is the Brit in the street affected by the massive (and growing) US bailout?

Posted 5 years ago
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LH
LH
Posts: 20002

Who knows how the G7 thinks, (certainly how to protect their own backs).

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

Maybe it doesn't affect the man in the street right now, but when it comes time to replenish those government funds (if they even were there to begin with . . . it's all electronic transfers anyway . . . no real cold hard cash is involved obviously) and taxes are raised to do it, then the man on the street is going to feel it.

(My fantasy accountant writing checks was just to dramatize the situation . . . though while there isn't someone writing checks, there likely is a person pushing a key on a keyboard . . . maybe I should have used a geek in my drama example instead of an accountant).

Posted 5 years ago
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Scott
Scott
Posts: 5618

Oh, our policy is affecting our citizens already, perception and fear. Not too worried about British fiscal policy here unless they start taxing our tea again.

Tea. Whatcha think it was?

Posted 5 years ago
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LH
LH
Posts: 20002

You will only throw it overboard again.....mmmm...maybe not, at those prices :)

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

Earl Grey?

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

Black Oolong?

Posted 5 years ago
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BobJam
BobJam
Posts: 1052

Maybe a Brit would have a better chance of identifying it. I mean, they know tea best don't they? We just dump it in the water. "I don't need no stinkin' tea".

Posted 5 years ago
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Scott
Scott
Posts: 5618

Looks like Lapsang Sinsemilla Souchong.

Posted 5 years ago
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LH
LH
Posts: 20002

I stick with PG Tips. (ooh sorry :( was that advertising ?)

Posted 5 years ago
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Scott
Scott
Posts: 5618

TIPS?
Yeah, I'm worried about inflation too.

Posted 5 years ago
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LH
LH
Posts: 20002

No, no. It's this,
http://en.wikipedia.org/wiki/PG_Tips

Posted 5 years ago
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Scott
Scott
Posts: 5618

One man's tea is another man's bonds ;)

Posted 5 years ago
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LH
LH
Posts: 20002

premium ;)

Posted 5 years ago
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