$825 Billion Stimulus Plan
- Thread starter trrenter_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
While that plan is certainly preferable to what is going through Congress, it still misses the mark. Supply side economics stimulates the economy by making people willing to work harder because they can keep more of THEIR OWN money. While having more money in pocket is beneficial, any tax rebate is limited in effectiveness because you can't change behavior in the past.
A tax cut can change economic behavior.
A tax rebate can't.
If you want the impact of a tax cut to filter through the economy faster, simply reduce (or eliminate) payroll taxes.
Is that a Turtle Ridge house in the background, or is it Quail Hill?
I don't know, I stole it from the main blog.
The house is ugly. Just another Irvine stucco box.
I'd give him a pass on the 235,982 times he said "uh" and his clumsy manner in asking for the next question, but this isn't his first press conference. Having spoken publically to large crowds, both at a podium and in a Q&A format, I can tell when someone is trying to pitch something they know isn't true. When you contrast his responses to questions on the stimulus bill with his responses on Iran, Iraq, & Afghanistan, the difference is night and day; he's convinced that his foreign policy is right and he's confident... but he's trying to baffle us with BS on the stimulus and he knows it. The only performance uglier than his was that of the White House Press Corps. Every one of those incompetent jerks should lose their jobs, starting with the tool that asked him about A-Rod. the rest of them either haven't bothered to read the bills in question or are content to buy the Administration's brand of BS and call it gospel. It should have been blatantly obvious to them that he wasn't being forthright and upfront, and anyone of them could have followed up one of the other's questions to force him to confront his own hypocrisy. They never would have laid down for Bush like that.
Actually, that's for real Santa Barbara style, and the dog in question is a Chinese Crested named Sam.
http://www.samugliestdog.com/theugliestdog.html
This one's even more choice.
http://www.msnbc.msn.com/id/10152429/
That poor baby. He was just misunderstood!
What is your take on why the financial collapse happened?
Easing restrictions on home mortgage loans and low interest rates. Housing bubble wouldn't have happened if banks didn't give money out to everybody that breathes air. Home values soared, people used homes as ATM machines to buy toys. That gave profits to companies and the DOW went to 14K. All it did was create a "fake" economy. After the 2001 crash, we should have never went to 14K DOW. We created a bubble within a much bigger bubble.
That's a symptom of the problem, not the cause.
The true problem is trying to use financial engineering to "outsmart" the business cycle. Creative destruction is part of capitalism. If we don't remove the stupid players and weak hands from the market, they eventually crowd out the smart money.
skek said:
While that plan is certainly preferable to what is going through Congress, it still misses the mark. Supply side economics stimulates the economy by making people willing to work harder because they can keep more of THEIR OWN money. While having more money in pocket is beneficial, any tax rebate is limited in effectiveness because you can't change behavior in the past.
A tax cut can change economic behavior.
A tax rebate can't.
If you want the impact of a tax cut to filter through the economy faster, simply reduce (or eliminate) payroll taxes.
O
Oscar_IHB
Guest
I'm watching the Obama press conference. It is ugly.
graphrix_IHB
New member
Oscar said:I'm watching the Obama press conference. It is ugly.
Is that a Turtle Ridge house in the background, or is it Quail Hill?
O
Oscar_IHB
Guest
graphrix said:
I don't know, I stole it from the main blog.
No_Such_Reality_IHB
New member
What was ugly? The hypocrisy? The pride in having a pork free bill and them bragging about the earmarks?
graphrix_IHB
New member
No_Such_Reality said:
The house is ugly. Just another Irvine stucco box.
O
Oscar_IHB
Guest
That was part of it. Other parts included that meandering answers that seemed to drift for minutes at a time while not actually answering anything, the blatant lies about the content and intentions of the bills coming from Congress, the ham-handed way he handled the Grande Dame of the Press Corps... Helen Thomas, the calls for an end to partisan bickering while indulging in partisanship by accusing the Republicans of being partisans, ad infinitum.No_Such_Reality said:
I'd give him a pass on the 235,982 times he said "uh" and his clumsy manner in asking for the next question, but this isn't his first press conference. Having spoken publically to large crowds, both at a podium and in a Q&A format, I can tell when someone is trying to pitch something they know isn't true. When you contrast his responses to questions on the stimulus bill with his responses on Iran, Iraq, & Afghanistan, the difference is night and day; he's convinced that his foreign policy is right and he's confident... but he's trying to baffle us with BS on the stimulus and he knows it. The only performance uglier than his was that of the White House Press Corps. Every one of those incompetent jerks should lose their jobs, starting with the tool that asked him about A-Rod. the rest of them either haven't bothered to read the bills in question or are content to buy the Administration's brand of BS and call it gospel. It should have been blatantly obvious to them that he wasn't being forthright and upfront, and anyone of them could have followed up one of the other's questions to force him to confront his own hypocrisy. They never would have laid down for Bush like that.
awgee_IHB
New member
U.S. Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes
By Mark Pittman and Bob Ivry
Feb. 9 (Bloomberg) — The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed. The total already tapped has decreased about 1 percent since November, mostly because foreign central banks are using fewer dollars in currency-exchange agreements called swaps. The Senate is to vote early this week on a stimulus package totaling at least $780 billion that President Barack Obama says is needed to avert a deeper recession. That measure would need to be reconciled with an $819 billion plan the House approved last month.
Only the stimulus package to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates approved in 2008 have been voted on by lawmakers. The remaining $8 trillion in commitments are lending programs and guarantees, almost all under the authority of the Fed and the FDIC. The recipients’ names have not been disclosed.
By Mark Pittman and Bob Ivry
Feb. 9 (Bloomberg) — The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed. The total already tapped has decreased about 1 percent since November, mostly because foreign central banks are using fewer dollars in currency-exchange agreements called swaps. The Senate is to vote early this week on a stimulus package totaling at least $780 billion that President Barack Obama says is needed to avert a deeper recession. That measure would need to be reconciled with an $819 billion plan the House approved last month.
Only the stimulus package to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates approved in 2008 have been voted on by lawmakers. The remaining $8 trillion in commitments are lending programs and guarantees, almost all under the authority of the Fed and the FDIC. The recipients’ names have not been disclosed.
awgee_IHB
New member
General Motors to Invest $1 Billion in Brazil Operations — Money to Come from U.S. Rescue Program
By Russ Dallen
SAO PAULO — General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."
"It wouldn’t be logical to withdraw the investment from where we’re growing, and our goal is to protect investments in emerging markets," he said in a statement published by the business daily Gazeta Mercantil.
By Russ Dallen
SAO PAULO — General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."
"It wouldn’t be logical to withdraw the investment from where we’re growing, and our goal is to protect investments in emerging markets," he said in a statement published by the business daily Gazeta Mercantil.
no_vaseline_IHB
New member
graphrix said:
Actually, that's for real Santa Barbara style, and the dog in question is a Chinese Crested named Sam.
http://www.samugliestdog.com/theugliestdog.html
This one's even more choice.
http://www.msnbc.msn.com/id/10152429/
That poor baby. He was just misunderstood!
green_cactus_IHB
New member
skek said:
What is your take on why the financial collapse happened?
jbenko_IHB
New member
green_cactus said:
Easing restrictions on home mortgage loans and low interest rates. Housing bubble wouldn't have happened if banks didn't give money out to everybody that breathes air. Home values soared, people used homes as ATM machines to buy toys. That gave profits to companies and the DOW went to 14K. All it did was create a "fake" economy. After the 2001 crash, we should have never went to 14K DOW. We created a bubble within a much bigger bubble.
BlackVault CM said:
That's a symptom of the problem, not the cause.
The true problem is trying to use financial engineering to "outsmart" the business cycle. Creative destruction is part of capitalism. If we don't remove the stupid players and weak hands from the market, they eventually crowd out the smart money.
jbenko_IHB
New member
Well I was going to just say "Greed" and "Corruption". But I didn't want to use those words.