Going to Cash

[zad0030]

I love the thinking... but ur math is a bit flawed... or else I'm missing some zero's in my calculations.

85,000,000,000 / 200,000,000 = 425


In order to get 425,000 you'd have to have a 85 trillion dollar buyout.... OR 85,000,000,000,000

I like his math better, you can have your $425.00, I'll take the $425,000

And that doesnt include taxes!!!

[chpthril]

And that doesnt include taxes!!!

i'll pay taxes on found money any day.

[Tanner]

I like his math better, you can have your $425.00, I'll take the $425,000

Hell.... I do too... I wish my CPA and the IRS would use his math on my taxes.

[Tanner]

But yes... unfortunately the Media is good at that. The media is part of what Crushed the housing market in some states. If they would just keep their mouths shut, and stop being sensationalists, everything might just normalize after some work. Will that ever happen (them shutting up)... doubtful!

I wish we could charge the media w/ inciting a riot. Think about it... they kind of do. Ever seen your local grocery store on the day b4 it was supposed to snow heavily. I dreaded those days when I sacked groceries for my first true job.

[chpthril]

But yes... unfortunately the Media is good at that. The media is part of what Crushed the housing market in some states. If they would just keep their mouths shut, and stop being sensationalists, everything might just normalize after some work. Will that ever happen (them shutting up)... doubtful!

I wish we could charge the media w/ inciting a riot. Think about it... they kind of do. Ever seen your local grocery store on the day b4 it was supposed to snow heavily. I dreaded those days when I sacked groceries for my first true job.

I agree 100%, the media is 90% of the problem. I learned years ago through personal experience, that the media will not let the truth get in the way of a good story

[sparky216]

That depends on a lot of things. I do not believe that my bank will see a run (and am not convinced that a run on any bank will appear in teh next few days either...) at all.

It all has to do with your risk tolerance. If you feel like you need the cash, then by all means take it out. If it is from a bank account, it is not like you will lose a whole lot of interest in a month or couple of months time period.

A bailout will happen. When and what it will be remains to be seen. I believe (perhaps completely wrongly) that as long as there is promise of the bailout to come, there will be no emergency type crisis.

Funny you should say that, cause it looks *as of this evening* that a bailout is not going to happen........Cash is king, and I firmly believe that we all need a months worth of cash available......

[sparky216]

No offense, but yes, you are being paranoid, this is how bank runs begin. First it's just a little money, then you hear friends, co-workers, and neighbors are taking money out, so you think...maybe I need to take out more, or better yet ALL.

Relax, the FDIC insures bank deposits up to 100K, so no need to panic. If you have some variable non-insured accounts that are taking a beating, consider rolling them into a CD or money market account, or IRA. Split up if more then 100K.

Fear and panic create more problems, then what people are scared and panicking about.

No Mike, no offense. I'm really interested to hear everyones point of view. Perhaps I'm too conservative....I've stocked up on staples and fuel, bought another generator and now have thousands in cash at home.........maybe I'm the loon, but a prepared on!

[sparky216]

MAKES MORE SENSE THAN CORPORATE BONUSES...

I'm against the $85,000,000,000.00 (that’s $85 Billion) bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.
To make the math simple, let's assume there are 200,000,000 bona fide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.
So divide 200 million adults 18+ into $85 billion that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free. So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in his or her pocket. A husband and wife have $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage – housing crisis solved. Repay college loans – what a great boost to new grads. Put away money for college – it'll be there. Save in a bank – create money to loan to entrepreneurs. Buy a new car – create jobs. Invest in the market – capital drives growth. Pay for your parent's medical insurance – health care improves. Enable Deadbeat Dads to come clean – or else.
Remember this is for every adult U S Citizen 18 + including the folks who lost their jobs at Lehmann Brothers and every other company that is cutting back, and of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!
As for AIG – liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can 'never work.'
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.
And remember, this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.


Ahhh...I feel so much better getting that off my chest.

hmmmm....interesting........I think I like it

[sparky216]

I love the thinking... but ur math is a bit flawed... or else I'm missing some zero's in my calculations.

85,000,000,000 / 200,000,000 = 425


In order to get 425,000 you'd have to have a 85 trillion dollar buyout.... OR 85,000,000,000,000

wow debbie downer.....his math was way cooler.......***!.....lol

[dingleberry]

since when does truthful math have anything to do with politics?

[da.bell]

Depends if this bailout is what it should be.

And I said it on the second post of this thread.

We could be screwed..... thank god that my bank is financially stable and they will be around for a long time.

[jwanck11]

you hope! Oh Yeah... and I hope so too!


OK... so do the math with the 1 Trillion figure then...

[Matt Garcia]

This panic reminds me of when I used to work at a bank during college. The Y2K scare had everyone pulling money out of our bank and storing it at home. I couldnt believe that some people thought they would loose their money after we repeatedly informed our customers that it was completely safe. We even had people on the side of the road selling water and duct tape near my bank!

People in our area caught wind of customers pulling money out of their accounts and sure enough some people lost all they had.

[Carter13]

Sparky,

Do you have a safe to lock up your cash in? Just curious because didn't you get your home and car broken into?

[sparky216]

Sparky,

Do you have a safe to lock up your cash in? Just curious because didn't you get your home and car broken into?

Yes I have a safe......and yes my house and cars did get broken into in March.