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i like the one a friend sent about taking the bail-out money and distributing it to every person over the age of 21,(actually it was only using 85 billion) $147,000 each.now that would really bail out some folks(myself included).
 

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"Wizards begin as blacksmiths"
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Of course I would like to see that $147k as well, but that's not going to happen. So, I forwarded the Dave Ramsey email I got yesterday to all of my friends and associates.
 

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The older I get, the better I was.
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If Financial Peace University worked for my wife and I, then this should work for the government.
Just my .02.
 

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Kids, Surf, Fish, Golf.....
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budana said:
i like the one a friend sent about taking the bail-out money and distributing it to every person over the age of 21,(actually it was only using 85 billion) $147,000 each.now that would really bail out some folks(myself included).
They moved the decimal point around a little.. the "simple math" does not work out that way. Should have been $425.00 to each person and not $425,000.00
http://www.snopes.com/politics/taxes/dividend.asp
 

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The fundamentals of our economy is just fine.
 

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I agree with most things in that article(not all). Especially: "This move will be seen as a lightning rod politically because many will say it is helping the rich. The truth is the rich will benefit, but it will be their money that stimulates the economy. This will enable all Americans to have more stable jobs and retirement investments that go up instead of down."
Our economy is based on people with money investing in order to make a stable economy that everyone can benifit from. How is that going to happen if all your hard earned money just gets givin to someone? JMO
 

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Let's Go Fishin Boss!
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LOL! I got that e-mail too last week and also informed the sendee that whoever originated that e-mail obviously had extremely weak math skills!

plhsurfer said:
They moved the decimal point around a little.. the "simple math" does not work out that way. Should have been $425.00 to each person and not $425,000.00
http://www.snopes.com/politics/taxes/dividend.asp
 

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Salty Dawg
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budana said:
i like the one a friend sent about taking the bail-out money and distributing it to every person over the age of 21,(actually it was only using 85 billion) $147,000 each.now that would really bail out some folks(myself included).
It's not true but if it was, could you imagine the inflation is every American $147,000 dollars to do with as they pleased? $425,000.00 would be even more extreme. Gucci bags would be selling for 20,000 bucks. It wouldn't take long for that money to be worthless.
 

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Dave Ramsey is a joke. His investment advice is 9th grade stuff. I guess I have to tip my hat to the guy, he's got a lot of people fooled.
 

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It might be 9th grade stuff to you but if our government would follow his simple advise of not spending more than they bring in we would not be in this predicament as it is.

Just curious if you are in the financial industry or the insurance industry. Those are about the only people I have ever heard say he is a joke. Mostly because he is not afraid to expose some of the corruptness in both those industries. I am not saying all in those industries are bad but the greed factor is what has gotten wall street in the bind it is now.

Just my 2 cents worth.

Hal01 said:
Dave Ramsey is a joke. His investment advice is 9th grade stuff. I guess I have to tip my hat to the guy, he's got a lot of people fooled.
 

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Not that I am opposed to different Ideas to the bail-out but theese ideas will not work either.

I a there are no more subprime bonds, and most of the companies holding them are already out of bussiness and just a shell servicing company. Not re-writing any loans

b All this would do is make anyone in a loan higher than 6% purposely get behind to get their loan reworked. Currently 9% of loans are in trouble with atleast one month behind. 9% is enough to obviously create a meltdown. What happens when the number doubles or triples ( the current market because of the failed bailout is higher than the 6% rate with perfect credit)

2 I would love to see golden parachutes removed, but not sure how constiturional it is to take away some ones contractual compensation if criminal activity cannot be proven. Great concept, but most likely illegal.

II This is a simular move to not allowing short sales. It kept the market falesly high, until the bailout news caused the 778 point crash. Simular results will happen. The write downs are bad, but these debts are not worth on a secondary market what they cost the original company and need to be reflected on the ballance sheet accordingly. This is where alot of the losses are.

III. How much will this cost the americain tax payer. Capitol gains is a significant revenue source for IRS. We are squaking at 700 billion, how is giving 700 billion tax breaks any different than giving 700 Billion in loans to companies. Anyway, its much harder to finance an investment property these days, and talking to people, the investors are very leary about jumping in with to much real estate. Not sure this would have the intended effect.

Something silular to the 1st suggestion needs to be made by congress for fha. Basically, there should be an fha program for people upside down in their home. 6% is not a deserving rate, something closer to the rates of the current fha secured like 7% would be more realistic.

The biggest problem is most people actually have very little concept of what is really going on or what the plan is intended to do. They do not realize how the secondary mortgage market works, they just dont want to see the fat cats bailed out. What they fail to see is this bailout is actually for the middle class. Last time I checked, during the depression, the rich still were rich, it was the middle class that disapeared.
 

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Hal01 said:
Dave Ramsey is a joke. His investment advice is 9th grade stuff. I guess I have to tip my hat to the guy, he's got a lot of people fooled.
why don't explain this a little more? Last I knew, being debt free was better than strapped with IOU's. Explain how he's got people fooled living debt free!
 

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Please elaborate Hal01.

The principles he has are very basic, yes, but foolish, or a joke?

Do tell, wise one.
 

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Come on Hal01 give some insight. Must be a new math because being debt free is the only way to go.
 

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Mr. Tuffy said:
Please elaborate Hal01.

Do tell, wise one.
Absolutely.......But you'll need to sign up for a 1 year subscription - $89.95. I'll even toss in my bestselling book (a $24.95 value) and my Deluxe Envelope System (a $19.95 value). And if you want the hands on approach, you can attend on my upcoming seminars with "platinum seating" for $199.00 (plus $3.00 service fee).


In all seriousness.

Perhaps my chioce of words could have been better, maybe "basic" would be more accurate.

If it takes people listening to Dave Ramsey (or whomever) to understand that carrying $75,000 in credit card debt might not be the way to go, then god bless them.
 

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Unfortunatly, most of the american public needs to be advised on a 9th grade (or less) level. The Wall Street Journal is written on a 9th grade level, and the Houston Chronicle a 6th.

Dave preaches what I see as common sense, therefore I haven't found myself in the hole that the majority of his audience has... but I wouldn't call the man a joke. If you read his plan that was brought up at the start of the thread, you can tell that he has got more sense than a lot of folks in washington.
 

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Some people have determination and drive, others have the Dave Ramseys of the world to keep them focused. At the end of the day, anyone can sit down and write out a budget that will allow them to reduce thier debt assuming that they have not gotten in too far over thier heads. If you find yourself with $5000 /mo coming in the front door and $7000 /mo going out the back door then you need a Dave Ramsey or the like. And maybe a good bankruptcy attorney :)
 

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Cat O' Lies said:
Some people have determination and drive, others have the Dave Ramseys of the world to keep them focused. At the end of the day, anyone can sit down and write out a budget that will allow them to reduce thier debt assuming that they have not gotten in too far over thier heads. If you find yourself with $5000 /mo coming in the front door and $7000 /mo going out the back door then you need a Dave Ramsey or the like. And maybe a good bankruptcy attorney :)
Good post....that says it well.
 
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