Comments on: American Taxpayers Up to Their Ears in Debt http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 10:39:45 -0600 http://wordpress.org/?v=2.8 hourly 1 By: Jerry http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-65120 Jerry Mon, 09 Feb 2009 12:46:58 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-65120 15,000,000 American households with average bad debt of $20000.00.Send $25000.00( average ) to each of these households to pay off debt, avoid bankruptcy, renew credit, purchase new car, or whatever they need with the extra $5000.00. This will stimulate the economy better than giving it to rich asshole CEO's who have helped create this economic crisis that we are in. Total cost is $375 Billion. 15,000,000 American households with average bad debt of $20000.00.Send $25000.00( average ) to each of these households to pay off debt, avoid bankruptcy, renew credit, purchase new car, or whatever they need with the extra $5000.00. This will stimulate the economy better than giving it to rich asshole CEO's who have helped create this economic crisis that we are in. Total cost is $375 Billion.

]]> By: Ernest Langmaid http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-61002 Ernest Langmaid Tue, 13 Jan 2009 02:11:55 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-61002 Always the comedian. I always get a good gut shaker from the way things fall out of your brain and on to the page unfiltered, a little frayed, sardonic and funny as hell. I fear you also see the truth of the current insane way the economists in our universities are doing. I know it is possible to go through university without learning much, but these guys need locking away. Always the comedian.
I always get a good gut shaker from the way things fall out of your brain and on to the page unfiltered, a little frayed, sardonic and funny as hell.
I fear you also see the truth of the current insane way the economists in our universities are doing. I know it is possible to go through university without learning much, but these guys need locking away.

]]> By: Glenn Peters http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-60760 Glenn Peters Sat, 10 Jan 2009 02:38:03 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-60760 There's another trillion or so USD in uncrystallised losses waiting to erupt upon the US mortgage market : Alt-A and ARMs. These loans are already showing massive default rates on tiny teaser rates of 1%-3% *before* they re-set to much higher rates. It's likely that 50%-70% of these mortgages will default. More bailouts, and where will the $ come from? The US Fed will simply print more money or run titanic deficits, to be paid off by US taxpayers for decades to come. The worst is yet to come. There's another trillion or so USD in uncrystallised losses waiting to erupt upon the US mortgage market : Alt-A and ARMs. These loans are already showing massive default rates on tiny teaser rates of 1%-3% *before* they re-set to much higher rates. It's likely that 50%-70% of these mortgages will default. More bailouts, and where will the $ come from? The US Fed will simply print more money or run titanic deficits, to be paid off by US taxpayers for decades to come.
The worst is yet to come.

]]> By: Dennis http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-55471 Dennis Thu, 04 Dec 2008 02:56:36 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-55471 Don't hold back now,say what you really think. Don't hold back now,say what you really think.

]]> By: john weymouth http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-55334 john weymouth Wed, 03 Dec 2008 07:18:26 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-55334 Yes but he didn't say WHEN did he. Actually he was probably referring to FDR's confiscation of US citizens' bullion holdings during the Depression, which was a hot topic in Judea a few thousand years ago. Yes but he didn't say WHEN did he. Actually he was probably referring to FDR's confiscation of US citizens' bullion holdings during the Depression, which was a hot topic in Judea a few thousand years ago.

]]> By: Greg S. http://www.dailyreckoning.com.au/american-taxpayers/2008/12/02/comment-page-1/#comment-55198 Greg S. Tue, 02 Dec 2008 14:15:27 +0000 http://www.dailyreckoning.com.au/?p=4534#comment-55198 "They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity." Ezekiel 7:19 "They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity."

Ezekiel 7:19

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