Originally posted by f-mattox:
There's nowhere to hide! This crisis is taking everything down.
And all this a month before an election! Exciting times. Scary, but exciting.
heard the stocks lost a trillion dollars today.
$1,000,000,000,000. That is a lot of cash!!
I took a big hit today too. This is nuts. I won't say anything political, because it is against the rules, and I am mad at them both anyway. And Dave is right, we were let down by DC in common.
My losses were minimal compared to other people's. However, I will have to look for another job if they don't at least get the credit situation straightened out. I can't get a commission if my contracts can't close. I did the right thing during the real estate run up and told people to get fixed rate mortgages.
Now, I am paying the price for other people's greed and incompetence. They were telling people to get those 0% and low rate teaser mortgages that would re-set.
We did not have to take a loan out on our house. Our Money guy said and says we should take a loan out for tax reasons, but we have not. We are lucky that we have no debts. We keep the CC clear, our cars are paid for and still running. we try to watch our pennies, but we are still getting hurt.
DC needs to come together and do something.
My bother is in real estate and is doing well, but has a good target market. I bet this is hurting our TAs also.
Is this a smokescreen to cover for the 633 Billion Dollar budget bill to keep the country running? This event occurred while we were all looking at the 700 Billion Dollar bailout antics.
I understand a horrenderous amount of the new budget goes to the military for puposes of sustaining the war! I think the Congress is engaged in a sort of bait and switch. The purpose being to redirect our taxpayer attention! I hope I am wrong but I have become leery of things going on in the Capitol!
Originally posted by billybuzzy:
Is this a smokescreen to cover for the 633 Billion Dollar budget bill to keep the country running? This event occurred while we were all looking at the 700 Billion Dollar bailout antics.
I understand a horrenderous amount of the new budget goes to the military for puposes of sustaining the war! I think the Congress is engaged in a sort of bait and switch. The purpose being to redirect our taxpayer attention! I hope I am wrong but I have become leery of things going on in the Capitol!
BillyBuzzy
So you think you could get both parties together to pull this off?
Our Money guy said and says we should take a loan out for tax reasons
I had the money to pay off our mortgage earlier this year, but our adviser talked me out of it for the same reason. I wish I hadn't listened to him because we are down to a 4 figure amount as far as annual mortgage interest. The tax advantage just isn't significant to my thinking, as opposed to the 4 figure monthly payment that could be used for something else. Now it is too late and I don't have the funds to pay it off.
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