The Bail Out Card

brokesamEver since the US Congress approved the manufacture of $700 billion dollars for the bailout of the ailing American economy people had been crying wolf over the government’s apparent preferential treatment of financial institutions. The $250 billion rescue package for 9 of the biggest Wall St. banks devised to assuage their pain and suffering was considered unfair by many. Why exculpate these institutions who brought havoc to the world as the result of their hoggish and gormandizing ways in the first place? Why not bail out the people instead? Good question. Methinks both need to be bailed out. Keep the rest of the money to bail out consumers who are in danger losing their homes to foreclosure. This keeps the equilibrium and alleviates the financial institutions of toxic mortgages.  There are talks about this plan and I hope it happens fast.

But how big is $700 billion? Before we can appreciate the size of this immense amount of money perhaps we must dimension how large a billion is. They say when you count a billion 1 dollar bills at a rate of 1 second per bill, it will take you 32 years. That’s continuous counting – without sleeping. Counting 700 billion will take you 22,400 years!

What can you buy with $700 billion? Over the last week, I kept notes of what I read  and here’s a list I compiled :

  • Buy a country – Denmark, Peru, Nepal or Iceland
  • Write 301 million checks of $2,325 dollars to every American
  • 2.5 million Lambhorghinis
  • 2,000 apple pies for every American
  • A cup of Tim Horton’s coffee a day for every Canadian for the next 45 years
  • 210 high end hockey sticks for every Canadian
  • 700 million omelets with 10 ounces of sevruga caviar, a whole lobster, and six eggs
  • 100 years worth of continuous $2000/hr call girl services for 410 lucky people
  • 21 new Florida Marlin baseball stadiums
  • 2 cups of Starbucks every day for a year for every person in Brazil
  • You could literally buy the world a Coke. One 2-liter bottle per week for a year.
  • A brand new Hummer for each of the 11 million people on the island of Cuba
  • 2 mountain bikes for everyone in China
  • 10,000 dollars for every Pinoy
  • 438 lbs of rice for every person in Africa

 Remember, you are only 12 times richer than Bill Gates so in reality, $700B is really not that much 🙂

 

THE XBOX DILEMMA

xbox Here’s a familiar episode in the living room of every family with young teens – the seemingly never ending row between parents and kids over the latter’s excessive use of gaming devices. This everyday conflict has stressed many households and the consquences can range from the mundane to the serious, and even fatal as evidenced by the unfortunate incident that took the life of a 15 year old Brandon Crisp. Upset by his parents’ drastic action of sequestering his XBOX because of his addiction to the game, Brandon ran away from home on Oct 13 and wasn’t seen until deer hunters found his lifeless body in the thick woods on Nov 5, four weeks after his disappearance. Brandon apparently died of hypothermia, caused by prolonged exposure to the cold.

Who do we blame for this tragedy ? The parents ? The child ? Microsoft – the makers of XBOX ? – which reminds me of the absurdity of lawsuits against tobacco companies and gun manufacturers accusing them as accessories , if not criminals, on the fatal damage/accidents purportedly caused by the products they manufacture. When I was in my teens, I pulled the same antic of running away when I was admonished by my parents. I usually ended up in the safety of relatives’ homes, only to be reported to my parents of my whereabouts.

It is not my intention to criticize the parents of Brandon Crisp of their shortcomings but I do think that parents must train their kids on gaming discipline when they’re young. Just an opinion but when a young child understands his limits on playing with gaming devices, it is easier to enforce such policy when he/she grows a bit older. It’s not easy to teach old dogs new tricks the say. My 2 cents.

HAVEN FOR DEMOCRATS

Unbenkownst to many liberal minded Americans who desperately wanted a Democratic government, a McCain win wouldn’t necessarily translate into hopelessness. There was a way out 😆

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33 Responses

  1. “I do think that parents must train their kids on gaming discipline when they’re young.”

    >>> i strongly agree on this. it’s really the discipline and control.

  2. When you really think about, $700 billion isn’t that much. I believe the 5 year Iraq war already cost that much 😦

  3. “100 years worth of continuous $2000/hr call girl services for 410 lucky people”

    If I am one of the lucky 410 chosen recipient?,
    above is my Federal Govt.”Stimulus/Bailout” choice, but only for 30 years.
    I’ll cash in the rest to invest in pharmaceutical laboratories! hehehehe!

  4. Great Article! a new popular blog giving deeper meaning into the $700 billion bailout or rescue plan and to purchase historic art work visit http://got700billion.blogspot.com/

  5. What’s unfortunate about this bailout package is that due to the lack of oversight, some of the banks, instead of extending loans to businesses and to people, have instead used the money to acquire smaller banks.

    Everybody wants a bailout now: the US auto industry, state and local governments, and even General Electric are now knocking on the doors of both the White House and the Congress to ask for bailouts.

    I suggest that for the US auto industry and GE, let them go bankrupt. Bankruptcy will force their companies to reorganize and get rid of money-losing businesses. A bailout at this point will only serve to extend the life of a dying business. No damn use!

  6. “100 years worth of continuous $2000/hr call girl services for 410 lucky people” – Now THAT’s what I call a bailout for lonely and love-starved people, hehe. 😀

    Hehe, I love the video. Amusing but true in a way. A lot of my friends — and some relatives as well — have chosen to settle in Canada rather than in your neighbor to the south because of the medical benefit.

  7. “100 years worth of continuous $2000/hr call girl services for 410 lucky people.”

    BW… I am the third one already… your 410 slots will be gone in no time…
    He guys…. only 407 call girl services left… hurry! 😉

  8. Dong – teenagers are a rebellious lot and it really pays to knuckle them down when they’re still young 😯

  9. Natez1- they say that the $700B Iraq war didn’t go all to waste. A lot of American defence companies are profitting from it. AS well, I think the moderate Arab nations in the Persian gulf are also chipping in to the expense. 😯

  10. Noy – LOL on your “stimulus package” 🙂 So you want to be one of the lucky 410 eh ? 🙂 Only 30 years ? 😉 how come? Meron namang Viagra di ba.. hehe 🙂

  11. Panaderos – in truth, if the big Wall St banks acquire smaller banks as long as it boosts their balance sheet, it should be OK. The feds are actually more concerned that the $250B bailout money might be used by these banks to pay hefty bonuses! It is estimated that $6B out of the $250B will be handed out as bonuses and the House Oversight Committee had written a letter to these banks requiring them to declare the disbursement of the bailout money. The banks have agreed in principle that help to homeowners is a prudent measure of helping to avert the crisis.

    As for the auto industry, there is a consensus that bankruptcy will be very devastating to the economy because a lot of other companies, worldwide in fact, are major suppliers of the big 3, let alone the many many car dealerships that would go under. The last I heard that Canada and the US are working a joint solution. FYI, despite the crisis, there was a 1.5% increase of auto sales in Canada for the month of October. Chrysler even had a 5% jump in sales and Subaru had its best sales ever in Canada – a 23% increase. The reason is prices have gone down and people here are still getting credit coz the banks here aren’t hit by the subprime meltdown because of their conservative practices and tight regulation from the government. In the end though, if the US goes deep in a recession, Canada will be affected because it is its prime trading partner.

  12. Sngl – are you registering for the elite 410 too? hehe 🙂

    I’m wondering if this video is really authentic, meaning if the ELITE program is true. Methinks this is a hoax, if not one of those Saturday Night Live comedies 🙂 True health care is free here and sometimes that is all thet matters to some people who are reaching their twilight years, that they don’t have to spend a dime for their health care. A bit of socialism won’t hurt. What we need in life isn’t money or luxuxy but continuity of the standard of living we enjoy 🙂

  13. Sidney – hahaha 🙂 I’m taking a slot so only 406 are left. Panaderos hasn’t raised his hand so far hehe 😆

  14. You mean these countries countries are cheap ? 🙂

    OMG, running away from your parents house and going to the forest by yourself is suicide. This is so tragic. I’m sure the parents are devastated.

    The video is funny and you’re right, it looks like an SNL episode 🙂

  15. And come to think of it, the Japanese has in their coffers about $700 billion US dollars, while China about $300 billion. The Saudis, on the other hand, own about 8 percent of the US economy. The US better not anger any of these guys … hehehe.

    As for Brandon Crisp, I wonder if he were a latchkey kid or without enough parental supervision so as to inspire him with other activities such as reading a book or mountain biking or hiking. A sad tale, indeed.

  16. You left out Philippines, it’s for sale at a bargain price.

    I agree with panaderos solution. At this point its better to “live and let die”. It’s a bitter pill to take but in the long run it will make companies “lean and mean”. The same treatment should also be given to these big banks. Teach them that not all things always go their way.

  17. With $700 billion in my account; I will transport ALL the good people to unpopulated countries temporarily. Then I will create a manmade TSUNAMI to pummel the whole Philippine Islands, submerge it for maybe thirty minutes until all the EVIL ONES are nowhere to be seen. Bring back the good ones and start the good life one more time. The nation is great again.

    Cheers!

  18. Irrealis – you bet they’re cheap 🙂 There was a letter to the editor to one of the major papers here proposing that Canada annex the almost bankrupt island Iceland as one of its provinces 🙂

    No one must fool around with the weather here. Although it is still officially autumn, temps go below zero in the evenings 😦

    Guess what, I called the 800 number on the videocap, and it went dit,dit,dit… 😯

  19. Eric – goes to tell you that the world is truly global and if the head goes ballistic, all the body parts will suffer the consequences 😯

    The kid was probably truly addicted with the game. Interestingly, a reward was set for anyone who could give a tip on the boy’s whereabouts which went up to $50,000. Microsoft chipped in for 10 grand… ooops, a declaration of guilt? 😳

  20. Blogusvox – magkano na ba ang price tag ng Pinas ngayon ? 🙂

    The feds seem concerned more on the impact of bankruptcy to the public. Case in point they bailed AIG, the largest insrunace company in the US but allowed Lehman Brothers, a big investment bank to go bankrupt. Merryl Lynch could have followed but was bought hence saved by Bank of America the last minute. The auto companies have been spoiled for the last decade with their outrageous union demands. I say of they are bailed out, they should demand to scrap the unions and bring the salaries of their overpaid workers back to normal 😡

  21. TrueBlue – you mean we need a second Noah and the great flood to purge Pinas of its evils? 🙂 Well, lets put everybody in Northern Ontario all the way up the Artic tundra – we have a lot of real estate here 😆

  22. I like the second to the last item in your list to happen. I’d settle even for half the amount per Pinoy. Hehe.

  23. Abaniko – for those living abroad, time to get a dual citizenship 😆

  24. i can only hope that every government budget will go direct to where its is intended unlike in the Philippines.

    i have fun with the caricature.:)

  25. Cliffnotes – agree. Come to this of it – if this financial crisis is coupled with government corruption it would be tantamount to death 😦

  26. bail out—there’s the in word nowadays.

    I wouldn’t mind getting a check for 2000. But then again, I wont be spending it, that’s probably why that’s not the road taken by the govt.

  27. Ewok – yes, even states and cities are requesting a bail out !

    As Warren Buffet said ” if everybody is greedy I am fearful but if everybody is fearful, I like to be greedy”
    He went on to say that he will convert all the cash he had hoarded and buy stocks 🙂

    The recipe for this economic crisis is more consumer spending but people are just too scared to spend coz they might lose their jobs ! It’s a catch 22 situation 😯

  28. I have a proposal. Why don’t we just put the 700 billion in fixed deposit say 1% p.a. (we are being generous here).

    hence, we will earn 7.0 billion a year, 583.333 million a month,19.444 million a day, and 9,722 call girl services in a day, still have a change of 444.44 for a gum or whatever…. ha ha ha.

    and we still have the 700.0 billion IF the banking system does not fail.

    That is precisely what these people are afraid of. unless of course there is new system invented or we go back to barter trade and keep the proceeds in big warehouses or caves.

  29. MyePinoy – that’s a great proposal esp with the increase in call girl services hehe 😆

    One big problem is the $700B – isn’t real, it’s an IOU to the taxpayers , ugh 😯

  30. that is a lot of money. i’ll probably keep $1 M and give the rest to Charity.

    Wait, i’ll give some to Vanessa, Hope, Jasmine, Charise and Jenny too.

  31. Lawstude – hahaha… with that kind of maintenance, you’d better keep more than $1M bro 🙂

  32. 10,000 US dollars for every Pinoy…hmm, not bad. Would that include Pinoys in the Diaspora as well?

    *****

    Sad thing about the gamer-boy who died in the woods.

  33. Jayred – I hope so … 10 grand would be nice 😉

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