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Topic: CRITICAL DAY for AMERICAN ECONOMY
Guys
Today is the critical day for US economy.
Bill must be passed otherwise we all will be in peril.
these are scenarios that will happen
if the bill is not passed
1) Stock Market (DOW JONES) will dip atleast 2000 points in single day. Its already down 340 points so far today.
2) This will impact global stocks
3) US will sink into deep recession.
4) Millions will lose job in single month.
5) Immigration will be tightened and laws will be passed to limit the immigrants in significant numbers
6) It will take atleast 4-5 years for the economy to recover.
If the bill is passed
1) Stock will recover the losses and stabilize
2) US will not sink into recession atleast for short term
3) New Jobs will be created
4) House and car buying will pick up as banks can get credit
Passing the bill is very critical for everyone especially for immigrants like us
eventhough wall street and financial corporation are greedy and deserve punishment, we cant afford to punish them now as we will also be affected.
Its all linked. We may have to make wise decision.
for US economy to improve, only chance is to pass this bill. Lets hope sense prevails and bill gets approved.
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Passing this Bill is like giving away some money to a Alcholic to spend on his drinks.
And the most of $700 B goes overseas.
The bill not strictly regulated yet, and lets hope there will some corrections to Save real USA.
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Gurupitka,
see, what we are trying to do is to fix the problem short term.
so that we buy ourselves some time to take necessary precations and plans to fix the problem permanantly.
Lets think rationally here. we all knew Greedy of the financial institutions has bought this mess but we cannot afford to sit and say let them suffer. It will not be good thing at this point. Lets punish them in differnet ways but right now clearing this bill is the critical one.
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Bill will get passed.. the similar situation is happend in HK (A lot smaller in scale of course becaz HK is a lot smaller than US) years ago during the Asian Econ downturn. HK Gov't insist to bail out the HKSE and HSI becaz of the the same evil "housing bubble bust".
Well, at the end of the day, the 100B HK dollar investment into HK securites are paid up and recovered and eventually made money on it right now...
Storm will pass eventually and if US are a good goal keeper this time... the invested $$ will cover and start earning... but the question is, how long it will be? Everyone has an expiration date, being too old, going to die... and maybe a lot of people cannot see the good future anyone...?
Just FYI, it took HK 7-8 years to fully recover (based on the HSI stock index) and the fell housing price never recovered to its highest and maintain in a 70% of its highest level.
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Bill will get 'go' signal. Remember, the bailout is not new to US. As per Bill Clinton US has already done this kinda bailout and booked profit out of it. The issue could be the exact amount the congress allow for this bail out. It might not be 700 Billion.
The other scary thing is, US is creating a panel of economists and experts from the Wall Street. Yes Wall Street. It is a kinda, the govt. is investing our money in US securities, which are cheap now and going to bounce back when the turmoil is over.
So, we might get the money back, or break even or loose a little.
S..
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guys,
lets not assume the bill will be passed.
There is lot of opposition from republicans
its very close game. it may just get passed
lets pray god to pass the bill
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guys,
lets not assume the bill will be passed.
There is lot of opposition from republicans
its very close game. it may just get passed
lets pray god to pass the bill
You dont want us to assume that the bill is going to be passed. I believe you dont want us to assume that the Bill is not not going to passed either. Then what do you expect from this thread pal?
S.. |
all i am saying is lets be neutral and pray god that bill be passed
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700 billion is nothibg unfortunately, we havet even seen the full effect of derivatives exposure and credit card debt yet. that in my opinion is the next one in line.......
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With 60 trillion in capitalization on the global market I do not now how much is really matters 700B.
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Here are my findings on how 700 billion bailout will affect our country India.
If 700 billion bailout doesnt happen
1) Dollar will gain strength against indian currency ( we are talking not abt 45 rupees here but we are talking about somewhere around 55-60 rupees per dollar. some may think wow.. we can work in US but there wont be any jobs in US. Outsourcing will take place in full fledge but with payroll reduced significantly)
2) India will find it difficult to sell the real estates. for example, The houses that are bought for 20 lakhs will have to be sold for 10-15 lakhs.
3) Middle class, lower middle class and poor will be affected.
4) India will go into depression...
If 700 billion bailout happens.
1) Indian rupee will get stabilized and it will be around 40-44 rupees/dollar.
2) Outsourcing will take place and more jobs will be created for india.
Its crucial for india if the bailout occur
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also its worth mentioning the point that we depend completely on US Economy.
If US goes down, India goes down.
and most countries go down.
The countries that dont depend on US are Oil rich countries (Middle east, and Canada)
These countries will do well despite US slowdown
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Global economy wud get hit, if US economy crashes. Its a ripple effect. And Canada of all countries is USA's largest trading partner, and will most likely face the ripple effect of a US Economic collapse/ lets hope for the best.
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also its worth mentioning the point that we depend completely on US Economy.
If US goes down, India goes down.
and most countries go down.
The countries that dont depend on US are Oil rich countries (Middle east, and Canada)
These countries will do well despite US slowdown
Who will buy their oil when all the consuming economies take a hit?
With the do nothing 110th Congress refusing to step in we are in for a bumpy ride, GC or no GC. |
Fact is there are no guarantees that the 700b$ package is going to fix things. If it doesn't what next??
Isn't it time other countries learn their lessons and start to have economies that are based on internal consumption rather than waiting for business from US.
Tax payers should not bail out Wall St. Why should they?
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Here are my findings on how 700 billion bailout will affect our country India.
If 700 billion bailout doesnt happen
1) Dollar will gain strength against indian currency ( we are talking not abt 45 rupees here but we are talking about somewhere around 55-60 rupees per dollar. some may think wow.. we can work in US but there wont be any jobs in US. Outsourcing will take place in full fledge but with payroll reduced significantly)
this is also depends on how much congress will inflate the indian rupees. since it is congress they will go ahead and inflate so much for calling them a party of poor.
2) India will find it difficult to sell the real estates. for example, The houses that are bought for 20 lakhs will have to be sold for 10-15 lakhs.
not sure about this, historically india never had a housing bubble not enough land to get india a housing bubble.
3) Middle class, lower middle class and poor will be affected.
4) India will go into depression...
If 700 billion bailout happens.
1) Indian rupee will get stabilized and it will be around 40-44 rupees/dollar.
2) Outsourcing will take place and more jobs will be created for india.
Its crucial for india if the bailout occur
it is definitely crucial for the american home owners and credit card owners, other wise we will see hike in fees (non deductible) rather than rates (deductible) in mortgages. no need to answer the credit card woes we all are familar with them. |
The bailout plan fails to pass through the House ... market is down over 700 points.
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The bill did not pass, but I wouldn't say its completely dead. Whatever it is, we need some sort of a bill to pass. We're in precarious times with credit quickly drying up, business unable to borrow money, the stock market in feel fall and the average consumer feeling completely hopeless.
No politician wants to put his/her seal of approval on this bail out, especially the Republicans. Clearly those Republican representatives up for re-election are more worried about their seats, will they have a job after Nov 3rd? Most people believe this crisis is solely their doing, given the lack of oversight and regulation in the credit industry; the party responsible will have to answer for it. Election day will be very interesting.
PS. The Dow was down 700 point as of 2.30p CT!!
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The only thing I am worried is if items will get more expensive. Whatever you bought for $ 1 will cost you $ 10.00. It is not good. Believe it or not, I never had money in stocks, and I do not feel sorry for Wallstreet either, but this 700 Bill would have been a start to boost the economy for all of us.
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I believe the bill [with amendments] will come back up again. Europe is already bailing out!!!
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i struggle to understand how this doom and gloom people speak of will come to pass.
i think as long as people have jobs, the economy will move on. yes, the lack of credit will cause a reduction in some jobs ... but to say the average consumer is completely hopeless is an overstatement.
if anyone is feeling completely hopeless, it is the Wall Street gurus, and probably the baby boomers who want to retire soon.
my personal opinion is that we need to hit rock bottom, and then start re-building. invest that 700 billion in job creation etc.
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It is not going to matter what you and I think. The US Citizens are letting their voices heard by calling and writing to their senators - most of them are sick of both Wall St. and Main St., angry, and against the bill. [Atleast the ones I know.]
I agree with less government involvement with the businesses in general. But, there are many people who think this is the time to take extreme measures and support the financial system of this ecomony just enough so that it does not go into depression.
Well, can this bailout garauntee that -- noone is sure ... they are trying to ensure that by amending it.
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JAY LENO, HOST, "THE TONIGHT SHOW WITH JAY LENO": You know the way a bailout works? Here's the way a bailout works. A failed president and a failed Congress invest $700 billion of your money in failed businesses. Believe me, this can't fail. How can this fail?
How many agree with Jay Leno.........
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lol.. Since when Jay Lino become Financial Guru.. He is a comedian, dont take him too serious
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lol.. Since when Jay Lino become Financial Guru.. He is a comedian, dont take him too serious
exactly ! |
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