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  #16  
Old 10-01-2008, 10:06 AM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Sad thing is: for those with money, stock and a brain this was the perfect oppertunity to make a killing. At any rate, it was bound to happen sometime. I promise you, life will go on.

~Isaiah
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Last edited by SiberianTiger; 10-01-2008 at 10:08 AM.
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  #17  
Old 10-01-2008, 08:42 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Quote:
Originally Posted by Kenny_C.002 View Post
Pretty much the idea of stupidity being rewarded by a bailout is at least shot down by Congress (thank goodness for that!). The problem with not being able to capitalize by buying is because simply few actually have the money to buy, so those that make money by buying are those that are (again) rich. It doesn't really solve anything in this regard outside of killing all of those pension funds, which again hurts the middle-class.
There are other ways of getting around having no cash to buy these houses. You have three main options.

1. Go to a hard money lender that will lend you the money for around a 16% Interest Rate. After six months of seasoning or a 80% LTV, you'll be able to refinance and get all of your money back minus the 20% on the latter. You don't need good credit or money to get money from hard money lenders. They analyze the deal, not you.

2. Institutional Lenders will lend you millions of dollars on properties, provided you have a track record. You would be better off going with the first option before this. However, this is great for getting cheaper interest rates, and getting more houses in bulks of around 50 houses per buy.

3. Go to "angel" investors and get huge lumps of cash from them that will lend you the money. As long as you have a deal and business plan, they'll lend you the money. They are looking for a 21-25% annualized return.

There are many tax breaks for business's. We get so much tax credits it is unbelievable. When we buy HUD apartment complexes, we can basically tear a 200 unit apartment complex down and put a new one up ALL funded by the government. It is amazing how much tax breaks you can get. There are so many loopholes. For instance, if you use a Roth IRA, when you put money into it, the money is taxed. When you make money from that account, the money is TAX FREE. When you take the money out, you don't pay for any taxes of the profits. Another example is a 1031 exchange. With that, you can take any equity you have and transfer it to the down payment of another lets say 10 million dollar property. Now on the profits you just "transferred" you are NOT taxed on. So yes, many loopholes.
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  #18  
Old 10-02-2008, 10:05 AM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

The bail-out plan has been approved by the Senate: http://www.guardian.co.uk/business/v...senate.bailout
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  #19  
Old 10-02-2008, 11:01 AM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Kinda good news, the first day back at the Stock Market, Australia's share companies have recovered 2/3 of what they lost! Which is... Well... It hasn't gone back down again...

Interesting to see what the governments of both countries will do now.
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  #20  
Old 10-03-2008, 12:27 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

It was a good time to buy, we know. Too bad I had no money to cash in on the "rescue" plan. Could have paid for my awesome educational costs in the next couple of years. >.>
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  #21  
Old 10-03-2008, 04:12 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

The whole point of the matter is this: While it may have been the best time to make investments or whatever, those who did were either really lucky or really smart, and those who didn't just didn't. You can't change what you did or didn't do, but the world keeps spinning. We're dropping into another economical depression here, and it's prettymuch hitting world wide.

Where we are right now, and at the rate we keep dropping, the Depression of the 30's is going to return and hit us just as hard if not harder thanks to media garb. News teams just don't know when to leave what alone, and what with the coming election, unfortunately, nobody has answers on how to 'change' or fix the problem. All we can do now is wait it out, and try to fix it any way we can.

Maybe stocks and investments aren't the way to go, or maybe they are.
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  #22  
Old 10-03-2008, 05:34 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Quote:
Originally Posted by Kenny_C.002 View Post
It was a good time to buy, we know. Too bad I had no money to cash in on the "rescue" plan. Could have paid for my awesome educational costs in the next couple of years. >.>
Haha, me too. :3 But no go, you can't. But either way; the chances that you would have got your money back was outweighed by the chances you would lose it- the Government was buying bad investments made by Wall Street. If the losses by professionals was hovering around a trillion dollars, what can the government do?

If Tax Payers gain, it would be good{But they won't get it back}, and they you lost the money they're paying taxes with, too bad, the government would tell you.

My opinion as a capitalist- Pass the bill. As a honest American, it's against the best interests of the country, and is only keeping a small group of men in mind.

Mr. Ben Bernanke and Henry Paulson singing different tunes months ago.

Former Treasury Secretary on Bailout Plan.

Oct. 1 (Bloomberg) -- Former U.S. Treasury Secretary Paul O'Neill said the $700 billion bank-rescue proposal under negotiation in Washington is ``crazy,'' with potentially ``awful'' consequences for the world's largest economy.

``Doesn't this seem like lunacy to you?'' said O'Neill, who was President George W. Bush's first Treasury chief, from 2001 to 2002, in a telephone interview today. ``The consequences of it are unbelievably bad in terms of public intrusion into the private sector.''

Senators who voted and what they voted.

Cheers for our Congressmen. :D lol

EDIT: Short lived cheer, Congress passed the bill... -sigh-
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  #23  
Old 10-03-2008, 08:45 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Quote:
Originally Posted by Fantastical_Enterprises View Post
The whole point of the matter is this: While it may have been the best time to make investments or whatever, those who did were either really lucky or really smart, and those who didn't just didn't. You can't change what you did or didn't do, but the world keeps spinning. We're dropping into another economical depression here, and it's prettymuch hitting world wide.

Where we are right now, and at the rate we keep dropping, the Depression of the 30's is going to return and hit us just as hard if not harder thanks to media garb. News teams just don't know when to leave what alone, and what with the coming election, unfortunately, nobody has answers on how to 'change' or fix the problem. All we can do now is wait it out, and try to fix it any way we can.

Maybe stocks and investments aren't the way to go, or maybe they are.
How can it possibly be luck? The basic laws of Physics say that what goes up must come down. Vise Versa, anything that goes down, must come up. =/

Everything in life is a cycle. Whether you believe that or not, just look up the statistics of everything.
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  #24  
Old 10-03-2008, 09:24 PM
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Default Re: Financial Credit Crisis - DOW Drops 777 Points

Ouch.

There goes my extra credit in economics.
[didn't refresh portfolio, so that's what my stocks were after everything plummeted]

My econ. teacher has been going on about how Adam Smith and Milton Friedman are rolling over in their graves about this.
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