zara oly
Member
- Joined
- Mar 29, 2008
- Messages
- 79
WaMu May Cost Taxpayers $24 Billion If Bailed Out, Bove Says
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX01d69GQ.9U
JPMorgan Buys WaMu Bank Business as Thrift Seized (Update3)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLxCHDTaOaWw&refer=home
(It says Update 3 in parentheses, obviously updated. However, I think the WWW is being slanted one way. Call me paranoid.)
"Customers withdrew $16.7 billion from WaMu accounts since Sept. 16, leaving the Seattle-based bank - 'unsound'".
As you can see, the $700 billion dollar bailout is now 724 billion. Although, I think many of us can see that this is not the end of this economic crisis. Thank God for the FDIC.
What about all the jobs loss from the bank fallout? What about the coming Holiday Season? Where's the money for that? What about all the houses being built, and the foreclosures? What about people not being able to afford those homes anymore? What about all the labor that went into building those homes? What will happen to all those workers, many whom are employed from the black labor market?
Here's something though, the South Sound, compared to the rest of the nation, has a relatively stable economy right now. (That's thanks to the import/export business related to Asia markets, particularly China.) This is unlike California, which as a high unemployment rate right now, and is one of the major centers for the mortgage meltdown. Home prices in California is notorious for having a pricey real estate market.
This not just a financial crisis, but it could be a labor crisis. If the South Sound continues to weather the economic downturn better than other regions, we could see a growing tide of people looking work. One of the most major economic labor migrations occurred during the Great Depression.
Already, homes are still being built in the South Sound. Trees that took hundreds of years to grow, have been cut down in one day. When the housing market goes belly-up, there will be barren lots where once stood trees. Newly built homes will be empty, and the laborers around those homes will now be looking for work in the service industry.
This labor disaster will be magnified thanks to inflation. This newly printed money will cause an inflation. T. Boone Pickens is asking for money, as well as the auto industry. Not to mention all the other bloated expenditures. T. Boone Pickens is asking for money, as well as the auto industry. Not to mention all the other bloated expenditures committed unconstitutionally by our governmet.
I was thinking about our dollar, and it how it is not pegged to any precious commodity, and how that meant it 's basically based on 0%. And that's true, but then I thought, that the only guarantee to pay our debt is the "faith and credit" of the American people. Now, the only question is, do we have the faith? Do we have the credit? These are moral questions, and these are the times to examine our morals.
I'm for one going to work on behalf of Michael Delavar. If you can, help out with this campaign for liberty. www.delavarforcongress.com
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aX01d69GQ.9U
JPMorgan Buys WaMu Bank Business as Thrift Seized (Update3)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLxCHDTaOaWw&refer=home
(It says Update 3 in parentheses, obviously updated. However, I think the WWW is being slanted one way. Call me paranoid.)
"Customers withdrew $16.7 billion from WaMu accounts since Sept. 16, leaving the Seattle-based bank - 'unsound'".
As you can see, the $700 billion dollar bailout is now 724 billion. Although, I think many of us can see that this is not the end of this economic crisis. Thank God for the FDIC.
What about all the jobs loss from the bank fallout? What about the coming Holiday Season? Where's the money for that? What about all the houses being built, and the foreclosures? What about people not being able to afford those homes anymore? What about all the labor that went into building those homes? What will happen to all those workers, many whom are employed from the black labor market?
Here's something though, the South Sound, compared to the rest of the nation, has a relatively stable economy right now. (That's thanks to the import/export business related to Asia markets, particularly China.) This is unlike California, which as a high unemployment rate right now, and is one of the major centers for the mortgage meltdown. Home prices in California is notorious for having a pricey real estate market.
This not just a financial crisis, but it could be a labor crisis. If the South Sound continues to weather the economic downturn better than other regions, we could see a growing tide of people looking work. One of the most major economic labor migrations occurred during the Great Depression.
Already, homes are still being built in the South Sound. Trees that took hundreds of years to grow, have been cut down in one day. When the housing market goes belly-up, there will be barren lots where once stood trees. Newly built homes will be empty, and the laborers around those homes will now be looking for work in the service industry.
This labor disaster will be magnified thanks to inflation. This newly printed money will cause an inflation. T. Boone Pickens is asking for money, as well as the auto industry. Not to mention all the other bloated expenditures. T. Boone Pickens is asking for money, as well as the auto industry. Not to mention all the other bloated expenditures committed unconstitutionally by our governmet.
I was thinking about our dollar, and it how it is not pegged to any precious commodity, and how that meant it 's basically based on 0%. And that's true, but then I thought, that the only guarantee to pay our debt is the "faith and credit" of the American people. Now, the only question is, do we have the faith? Do we have the credit? These are moral questions, and these are the times to examine our morals.
I'm for one going to work on behalf of Michael Delavar. If you can, help out with this campaign for liberty. www.delavarforcongress.com
