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12-12-2008, 07:14 AM
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#1
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Give me a museum and I'll fill it. (Picasso)
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Location: NC
Posts: 21,303
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Dqotd
I'm paraphrasing Lou Dobbs here:
The average cost of a home in the US is $206,000. There are about 1 million homes in foreclosure in the US. If the gubmint bought all these homes outright it would cost $206 billion.
So why was/is the financial bailout, stemming from the housing bubble collapse, costing $700 billion? Sounds like little if any of that money is going to housing anyway - where is it going?
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No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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12-12-2008, 08:15 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Oct 2003
Posts: 5,105
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Not all the money is going into housing.
Generally, the housing market problems resulted in credit problems in all other industries - financial markets seized up - stopped money flow - since banks did not know who was/will be in good financial shape to pay things back. So, all economic activity is slowing down.
The current issues don't bother me as much as the seeds of the future problems we are planting now.
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Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
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12-12-2008, 08:21 AM
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#3
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Full time employment: Posting here.
Join Date: Jul 2007
Posts: 500
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Just a little math for example:
100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =
20.6 Trillion not 206 billion
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Worked the plan and now living the Dream!
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12-12-2008, 08:22 AM
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#4
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Give me a museum and I'll fill it. (Picasso)
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__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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12-12-2008, 08:26 AM
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#5
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Give me a museum and I'll fill it. (Picasso)
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Location: Independence
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 Quote:
Originally Posted by fisherman
Just a little math for example:
100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =
20.6 Trillion not 206 billion
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Was just checking - maybe ol' Lou is thinking European million:
"In particular, a billion is 10*9 = 1 000 000 000 in the American system and 10*12 = 1 000 000 000 000 in the European system. For 109, Europeans say "thousand million" or "milliard."
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12-12-2008, 08:27 AM
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#6
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
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Also, that doesn't mean there are 100,000,000 outstanding mortgages for $206billion.
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12-12-2008, 08:32 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Whatever the case its just peanuts right. I mean we will just print more money. Problem solved! Damn I could run for congress.
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12-12-2008, 08:38 AM
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#8
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
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Quote:
Originally Posted by Notmuchlonger
Whatever the case its just peanuts right. I mean we will just print more money. Problem solved! Damn I could run for congress.
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Send a check to Illinois and you can be in the Senate by the end of December!
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12-12-2008, 08:52 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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Quote:
Originally Posted by Bestwifeever
Send a check to Illinois and you can be in the Senate by the end of December!
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Heck, just deposit a couple hundred grand into my off-shore bank account, and I'll put in a good word for you for the governor's seat....'cause it's soon to be empty!
(we don't hold elections in IL anymore....we hold auctions...it's simpler 'cause no one has to go to the cemetery to collect voters!) 
Blago could use a little bit of that $700 billion.....for his own bailout (of jail).
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12-12-2008, 08:55 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Ohhh Governor. I wonder if it would be like that show Benson!
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12-12-2008, 09:00 AM
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#11
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,303
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Quote:
Originally Posted by fisherman
Just a little math for example:
100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =
20.6 Trillion not 206 billion
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Whoops, I corrected my OP, I mis-remembered what Lou said. I remembered $206,000 average price and $200B to fix it all - not very good with a calculator am I?
Can I manage anyone's money for them - you could make 100 times your money (or 1/100th...)?
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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12-12-2008, 09:37 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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Quote:
Originally Posted by Notmuchlonger
Ohhh Governor. I wonder if it would be like that show Benson!
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Our The guv in IL makes the one on Benson look like an Einstein! He's wondering if all this negative press is going to hurt his chances to run for Prez in 2016! 
I'm waiting for him to claim that he was going to use the money from the sale of Sen. Obama's seat, to help bailout our state's economy.... "Yeah...yeah, that's it....I wasn't going to keep that money! I was going to put it into the State's coffers to help the people of Illinois! Yeah, that's what I was gonna do! Honest, I was!"
</hijack>
Yeah, all those 0's throw me off too...millions...billions....trillions....heck, I dunno! I can only cypher up to 10 without taking my shoes off! 
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12-12-2008, 09:41 AM
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#13
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
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It's just like Benson except every other word is "BLEEPING", it sounds like on the transcripts.
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12-12-2008, 09:54 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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Quote:
Originally Posted by Bestwifeever
It's just like Benson except every other word is "BLEEPING", it sounds like on the transcripts.
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He's a bit of a potty-mouth.....and his DW sounds like she's worse than he is! That (bleeping) sets a (bleeping) poor (bleeping) example for their (bleeping) little (bleeping) kids! What the (bleep) do they (bleeping) think they are (bleeping) doing? The (bleeping) Guv and his (bleeping) wife need to stop all their (bleeping) swearing! It's just a bunch of (bleep)!
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12-12-2008, 06:30 PM
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#15
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Full time employment: Posting here.
Join Date: May 2007
Posts: 984
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Quote:
Originally Posted by fisherman
Just a little math for example:
100,000,000
206,000 ×
--------------------------
20,600,000,000,000 =
20.6 Trillion not 206 billion
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It was 1,000,000 homes, not 100,000,000......so the $206 billion would be correct. Are there even 100 million homes/mortgages in the US?
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12-12-2008, 06:43 PM
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#16
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Full time employment: Posting here.
Join Date: Jul 2007
Posts: 500
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The poset was edited /? corrected after my point per this note which is above:
Quote:
Originally Posted by Midpack
Whoops, I corrected my OP, I mis-remembered what Lou said. I remembered $206,000 average price and $200B to fix it all - not very good with a calculator am I?
Can I manage anyone's money for them - you could make 100 times your money (or 1/100th...)?
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__________________
Worked the plan and now living the Dream!
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12-12-2008, 06:57 PM
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#17
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Full time employment: Posting here.
Join Date: May 2007
Posts: 984
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Quote:
Originally Posted by fisherman
The poset was edited /? corrected after my point per this note which is above:
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Sorry about that -- didn't catch the edit...
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12-12-2008, 07:18 PM
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#18
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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lololol what a strange conversation. this is why i don't listen to anyone, ever. it pays to be completely self-involved. who are you people?
(and to think this is where i come for my financial advice. what the hell was i thinking? -- thanks for the laugh, that was fun.)
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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