How will the financial crisis effect me if our government doesn't bail out the banks?

I am a stay at home mom living in middle america and going to college. My husband supports our family, he is a blue collar worker. We dont have a savings or any extra money laying around. We live paycheck to paycheck. Would the government not bailing them out effect us?How will the financial crisis effect me if our government doesn't bail out the banks?If you don't rely on credit, and you don't rely on anyone else who relies on credit, then you may be fine. Hard to say how it will play out.



The problem is that most of us, in one way or another, do rely on credit......a student relying on loans, a car salesman relying on the ability of customers to get loans, a real estate agent relying on the ability of people to get home loans, a small business relying on credit to expand, employers relying on credit to pay employees, etc...



How will the financial crisis effect me if our government doesn't bail out the banks?
Does your husband work for a small company? If so, then with the credit market frozen its possible that he could lose his job. Would that affect you?How will the financial crisis effect me if our government doesn't bail out the banks?yes it would help. your children, and your children's children, and their children will not be saddled by the debt that would result. we don't owe these fat cats anything!
Yes, it could. If the credit markets freeze, it means business won't be able to borrower the money they need to run their business. If they can't borrower money, they don't have any capital, can't buy materials, and can't make any profits. This means your husband may not get paid. This is a rudimentary explanation, but I think you get the picture.How will the financial crisis effect me if our government doesn't bail out the banks?Yep. As Susie Orman keeps saying, if you have credit cards, expect the credit card companies to start taking credit away from you. So for example, if you have a 10K credit limit, they could take 5 K, which could ultimately increase your debt:credit ratio, thereby lowering your credit score. Lower credit score means you pay more for interest rates on loans, etc. Also, if you are like most Americans who charge a lot to credit cards, this may effect your ability to charge, especially if your available credit goes down. In the long run, no more credit, everything has to be paid with cash.How will the financial crisis effect me if our government doesn't bail out the banks?
The dire predictions are fear mongering. You will be fine. It would be far worse for you if the government prints a bunch of money and hands it to the finance industry. This will lead to more inflation. Let the market go down, I say. It deserves to go down. Artificially propping it up will only prolong the misery.
This is a very good question that nobody has the answer to.



Personally, I transferred all of my money out of my online accounts back to my checking account at a local bank. I don't know if there is a situation in which that would be necessary, but I felt it was something I could do since ETRADE is a publicly traded company and I fear a market crash.



I know the FDIC insures our money, but what if ALL major banks suddenly went under? How could the government reimburse most of the deposits in the entire country?



I know some have even considered pulling all their money our of retirement accounts. I hesitate to make such a move as their is a penalty.



Basically, if everything goes completely wrong, think Great Depression II, many businesses will go away. Many jobs will be lost. Stocks will be made worthless. The value of our currency will go to crap. And I just don't know how that effects being able to buy food and gas.



As far as the bailout, we don't know if it will actually fix the problem. Many people think it will actually take around $1.5 Trillion to stabilize the economy. We may just be stalling.



I'm not one to fear-monger and worry too much. But for me, I am willing to forgo the interest on my cash for a little while just in case.How will the financial crisis effect me if our government doesn't bail out the banks?
700 Billion means each Americans taxpayers need to pay our government 5,500 dollars for the bail out
No, the bailout would destroy you as the bailout would cause your husband to lose his job.



Never believe an elected official who us we need a bill to improve our economy. It has never worked.

NAFTA was supposed to bring thousands of jobs to our Country, the exact opposite happened, thousands of jobs left our Country.



The Senior Citizen Medicare Script Drug Program was supposed to be good for Seniors, again a total failure. The Republican Controlled Congress allowed the Pharmaceutical Companies to write this terrible bill which will cost us billions in taxes.
The Federal Reserve Bank, which is a privately owned central bank, creates the $700 billion out of thin air and lends it to the Federal government. The central bankers are causing another economic crash like they did in 1929. They plan to snap up all the assets that they can for 10 cents on the dollar and cause the public untold suffering so that they can gain greater control over us all. That 700 BILLION WILL BE PAID OUT WHEN THE BANKERS ARE READY TO LAP IT BACK UP AND NOT UNTIL THEN. DON'T THINK THAT ANY REPUBLICAN CONGRESSMEN are honest enough to vote against the party line. Everything the government is doing was planned that way, it is part of the show.

If you want some real info get a copy of America, Freedom to Fascism and watch it. The only way to make things better is to find out what is really going on.
Depending on the company if they can't obtain loans or credit to purchase what they need to operate or orders start being small or canceled he could be laid off. Credit card companies in need of money may start raising interest rates to the maximum. If you need a loan or need to refinance..you will most likely not get one now. If your husband loses his job and if you own a home how long would it take to sell..if you rent the landlord may raise the rent to to replace what they are losing . Prices could start to rise because companies again cannot get credit to manufacture or produce the needed supply.
Whether the government bailout gets passed or not we will all be effected in one way or another. The repercussions are going to be enormous throughout the country and the whole world.