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Bailout effects
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<blockquote data-quote="flutterbee" data-source="post: 199319"><p>The thing is, the bailout is going to stop the bleeding. It's only going to open up the credit so banks continue lending to each other and to businesses that need money for payroll. That to me is scary - needing loans to make payroll. I guess I'm naive. That's like one of my clients at the accounting firm who took out a loan to pay his taxes. <img src="/community/styles/default/xenforo/smilies/surprise.png" class="smilie" loading="lazy" alt=":surprise:" title="surprise :surprise:" data-shortname=":surprise:" /> Think he was spending more than he should?</p><p></p><p>But, the bleeding at the bottom - with falling home values and foreclosures - is still going to continue. We can complain all we want about people that got into bad loans that should have known better, yada, yada, yada, but the fallout effects all of us with falling home values. For many people, all it takes is losing a job or a major medical crisis and a home now worth less than you owe and you're in a really bad spot.</p><p></p><p>Even with the bailout, unemployment is expected to continue to rise and home values are expected to continue to fall. It's just a mess and I don't think there is an easy fix. It's going to be a bumpy road for all of us.</p></blockquote><p></p>
[QUOTE="flutterbee, post: 199319"] The thing is, the bailout is going to stop the bleeding. It's only going to open up the credit so banks continue lending to each other and to businesses that need money for payroll. That to me is scary - needing loans to make payroll. I guess I'm naive. That's like one of my clients at the accounting firm who took out a loan to pay his taxes. :surprise: Think he was spending more than he should? But, the bleeding at the bottom - with falling home values and foreclosures - is still going to continue. We can complain all we want about people that got into bad loans that should have known better, yada, yada, yada, but the fallout effects all of us with falling home values. For many people, all it takes is losing a job or a major medical crisis and a home now worth less than you owe and you're in a really bad spot. Even with the bailout, unemployment is expected to continue to rise and home values are expected to continue to fall. It's just a mess and I don't think there is an easy fix. It's going to be a bumpy road for all of us. [/QUOTE]
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