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It Keeps Growing and Growing and Growing...


Business  (tags: bailout, Federal reserve, unsecured debt, innflation, money, world economy, moneylending )

RC
- 2114 days ago - nytimes.com
Despite the Miracle of the Sacred Bailout, the world economy is shattering & sinking. Now the Federal Reserve has a new brainstorm: "Hey kids, let's buy vast amounts of unsecured short-term debt that companies use to finance their day-to-day activities!"



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Comments

RC deWinter (418)
Tuesday October 7, 2008, 4:31 am
In plain English, kids, it means that the Fed will be the direct lender to all kinds of businesses with liquidity problems by taking over their no-collateral loans. And where will this largesse be found? Not in the bailout billions - they're accounted for (supposedly). No, the Fed will have to print NEW money by the wheelbarrowful. Stop the world, I want to get off! Failing that, will the Fed pay MY unsecured debt?
 

Hans L. (958)
Tuesday October 7, 2008, 5:01 am
New money is great that will make everything better.....
investors began to hunt for bargains how many bargains will they find? Many ! Its like christmas for people holding cash positions or people who own their own moneymakermachine!
The rainforests will have to die for the inflation that is about to come! LOL! Its party time Nancy!
 

Joycey B. (750)
Tuesday October 7, 2008, 5:10 am
Thanks for this information Cate.
 

RC deWinter (418)
Tuesday October 7, 2008, 5:12 am
I am so concerned that very soon all American money won't be worth the paper it's printed on...with nothing but junk bonds, lousy mortgages and unsecured business loans to back it up, how can we possibly survive economically?
 

Pete Conrads (91)
Tuesday October 7, 2008, 5:58 am
I want to be able to live like a billionaire, what do I need to do to be an insider?

Best wishes to all and warm regards
 

Past Member (0)
Tuesday October 7, 2008, 6:38 am
ty was it ever worth the paper it was printed on?
 

Chris Nielsen (70)
Tuesday October 7, 2008, 6:45 am
I am a romantic. I would love to see a full recreation of the French Revolution right here in America. The condemned would be played by the Bush administration and the entire past and present executive boards of all of Wall Street corporations. Lets free up some money and return the land to the people.
 

RC deWinter (418)
Tuesday October 7, 2008, 6:49 am
Wants to be Madame Defarge but doesn't know how to knit...I suppose I'll have to settle for being Charlotte Corday....LMAO!
 

Laurie W. (189)
Tuesday October 7, 2008, 6:54 am
Hey maybe i should look into picking up some of these investments...I'll just use the money from my Monopoly game...should have the same face value as our paper currancy has nowadays..If not start collecting your beads and trinkets....
Thanks Cate, and you might as well hold on to your unsecure loans. The market will be so flooded there won't be enough personnel to handle the foreclosures. Can we just go back to promising everyone a chicken in every pot...easier to swallow that nasty worthless paper.
 

Past Member (0)
Tuesday October 7, 2008, 7:46 am
Really very good article. Very good.
 

Tsandi Crew (95)
Tuesday October 7, 2008, 8:50 am
This is all so convoluted it would make a good Sci Fi chiller....you wouldn't have to make it up! A planet full of people who are either 1) the liars, or 2) the lied to. No one in between.

I think we should put all the bankers and politicians on an island, and put a tall fence around them so they couldn't get back to the mainland to bother us. Then we could get back to business.
 

David S. (55)
Tuesday October 7, 2008, 8:58 am
When hyperinflation hits, Pete, you too will be able to be a "billionaire"...of course by then our current real billionaires will not be holding U.S. dollars. Having been facilitated in selling off their losses, they will pocket their bailouts to buy into new markets elsewhere.
 

Terrie Williams (759)
Tuesday October 7, 2008, 9:05 am
Chris....I agree with you. I have that same romantic fantasy!

ROFLMAO Cate, Madame DeFarge!!! Cloris Leachmann made the BEST Madame DeFarge ever played! I can just see you playing it that way too! LMAO.

Here's the truth peeps, our 'money' NEVER had any VALUE from the gitgo(once the 'Fed' started printing it). Now the world is waking up to that fact--in spades. Now America is waking up to that fact as well. It is and always has been--worthless paper.

What's to replace it? Um, I have a suggestion--which may end up being what we 'little common people' will be forced to do anyway--and that is BARTER SYSTEM. Maybe now we can get rid of the 'Fed' and let the TREASURY do what the CONSTITUTION proposed it to do in the first place--print its own money and back it with 'solid' assets, i.e., gold, platinum, silver, bronze, whatever. Unfortnately, that will be the least likely thing to happen. More likely, welcome to the AMERO, another usless, fiat, fake, worthless piece of paper.
 

Stephen Hannon (203)
Tuesday October 7, 2008, 9:57 am
Read all about this in the NYT this morning. I was going to submit the story but I got up late this morning, and I knew someone would have posted this story, so I didn't bother.

It seems to me that this was already done in Germany. Print more money by the barrel full, wheelbarrow that is, and bring it to the bakery to buy a loaf of bread. The only good news is that the USS ia beginning to rise above the Euro, and the Candadian dollar will plunge again, making their currency as worthless as ours. I feel bad for the next 8 presidents who will still be bailing us out of this mess. It might take that long to do it. But then again we have the pesky problems of job outsourcing, and the hiring of illegal immigrants because there are no Americans who want the jobs they do. How untrue this is. The only reason we don't want the jobs is because they don't pay a decent wage, and we can't live on the wages being paid. So it takes an army of illegals to do the jobs, and they all live in one small apartment, pool all their money together and they do okay. They get health care that Americans can't get. They get food stamps that Americans can't get because the applicant made 1 dollar over the alowable limit. Now that's a good excuse eh?

Tonights debat should be interesting, but there are better comedy shows on TV that I would prefer to watch. I can always catch up by listening to the pundits pick apart who won the debate. Old Walnuts or Obama.

What is strange in this election is that the Republicans are not voting for McCain, their voting for Palin. If Palin was removed from the ticket it would be all over but the shouting for McShame. Number 2 liar..
 

Marian E. (152)
Tuesday October 7, 2008, 12:27 pm

I'd like to know where you get in line for this
newest handout. I have a failing business with
a non collateral loan they can take the paper on.

Seriously, perhaps we're looking at this wrong.
Maybe we all need to get into business and join
in the hand outs.

Thanks Cate.



 

David S. (55)
Tuesday October 7, 2008, 12:59 pm
These new govt loans actually are only effectively available to larger business, Marian...I guess it depends on how many politicians you can afford to buy :(. That's why it should be called "dollar democracy"
 

RC deWinter (418)
Tuesday October 7, 2008, 1:01 pm
Has everyone seen the Greg Palast documentary "The Best Democracy Money Can Buy'?
 

David Gould (155)
Tuesday October 7, 2008, 3:29 pm
Idon't know I am away for a long weekend to see my latest grand-son and the world goes mad without me.

I am back now so we can short selling shorts...buy vests instead and call them in-vest-ments.

It was the ecomony stupid! or was that the stupid economy/

I have shares in a two banks so I guess I have a whole lot of nothing now.

I was hoping to retire gracefully and live off a pension fund...now it looks as though my pension fund will live off me, and I will have to grow old dis-gracefully.

Thanks Cate...some nice coming home party!

Perhaps we will all have to become Muslim and stop all this gambling.
 

Ken S. (38)
Tuesday October 7, 2008, 3:58 pm
Sorry folks, but this is all theater to entertain the gullible, while they rip you off....this is a MASSIVE con, the string pullers plan for massive debt, and your dollar to crash, so the Amero can be installed. Those in the know have already made the necessary changes, so that they can capitalize on this scam. If you plan your future on this basis, you may be able to minimize your losses. You and your children pay for the players losses, so these players don't have to pay for their folley and greed. Sounds like a good deal, if you are IN on the scam.
 

RC deWinter (418)
Tuesday October 7, 2008, 4:18 pm
Here's the first proof of it too:


Bailout Scandal So Soon? AIG Executives Blow $440,000 on Retreat One Week Later
WE ARE BEING TOTALLY F*CKED - but then again, we Americans are getting used to bending over, ain't we? BAH HUMBUG!!!!
 

Louise L. (48)
Wednesday October 8, 2008, 5:31 pm
This whole crappy mess has now spread worldwide; I just read that Iceland's economy is about to "implode". Does anyone know if there are Care2ers in Iceland? Wish we could see what they have to say. The really odd thing is, too, that it's all about paper moving around...paper that could destroy us financially! Thanks, Ombretta....where the heck is Tim? I'd like his take on this....is he in a "cloud"? LOL!
 
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