Going to Cash

[sparky216]

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.

I'm not suggesting that we pull out all of our money from the banks, just a months worth of cash to live on. Seems reasonable to me to have a thousand or two in cash, not 25k laying around.

[balair]

keep it in your safe deposit box spark. My dad keeps gold and some cash in his

[balair]

oh and I'm the only other authorized signer on it

[dogbert]

I'm not suggesting that we pull out all of our money from the banks, just a months worth of cash to live on. Seems reasonable to me to have a thousand or two in cash, not 25k laying around.

Can you show my wife and kids how to get by on $1K-$2K?

[sparky216]

Can you show my wife and kids how to get by on $1K-$2K?

hehe......I'm sure if things got tight that you would manage......

[KonaKing]

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.

Wow email is fast. I got this one today also

[KonaKing]

There was story going around the other day about the FED usually having 7 billion to back up the banks. When all this crap was going down they (the FED)
boosted that number to 90 billion

[KonaKing]

To close for credit Switching to cash