Looks like this particular big government approach needs to be reconsidered. I heard several economist point out that this infrastructure approach would move too slowly to make a big difference for the economy. I hope Barack will be open to a more market oriented approach to stimulating the economy where needed.
Obama can't and won't solve this crisis as he works for the same people that created the crisis to begin with. That is too much for most people to grasp, though -- too "conspiratorial," because, after all, they love us.
Since no one seems to know exactly what will work because we haven't seen this type of crisis before I think Larry Kudlow had an interesting proposal that touches on combining the most effective parts from different economic schools. MoneyNews - Reagan, Friedman, Keynes: We Need All the Help We Can Get
Maybe you have not personally but the country has and far worse! It needs to happen, too many people including our country living on credit and its time to pay up. Yes sure many will die in the process from crime issues, lack of food and shelter and medical, there will be serious problems in the cities but you all had years to see it comming, it was no suprise and now its time to pay! Society thought everyone needed there own room, an extra room, each had to have thier own computer, tv, stereo, car, atv, rv, boat, hire people to mow the grass, clean the house and so on and when the money started to choke they just went into credit mode to get more and more and more and now its time to waek up and realize it was a mistake and to accept what it takes to cure it! It may not sound nice but its reality! We let our jobs leave this country becuase we kept buying lower cost items, we wanted to pay less but recieve more. We complain that a Mexican in Mexico will do our job for $8.00 a day when we were paid $10.00 an hour. The only reason we dont survive as a society during these times is we are all to selfish, stupid and vain to work together. You loose that 3 bedroom, 2 bath house with a 2 car garage and recroom becuase you will make up your economic short commings by putting you extra rooms to good use like renting out the garage for storage, extra rooms for rental living space. I have seen the whiners and babies on TV complain about being just $200 a month shy of making house payments yet they lived in a 4 bedroom 3 bath home and had but on child. In CA the one side of the garage would have rented for the $200 for car storage. Deal with it!
LOL! Yeah, right, credit that was pushed on the people by the parasitic banks. But of course it's all the people's fault. WE have to pay! Surely the government will save us, though, thank god.
People have the right to say NO to credit. They tried to give us more for our home purchase, we said no that we didn't feel comfortable with it. They've increased my credit card to $10k....I've lowered it because I don't feel comfortable with it. NOONE CAN PUSH THAT SHIT ON YOU IF YOU DON"T WANT IT! People still have a fucking brain and need to use it. Well it doesn't matter so much now....but not every single person is a 'sheeple' that does not think or take care of their ownselves. Just because someone offers me a sandwich does not mean I have to take it.
No, most people DON'T have WORKING brains, and the powers that be, which have helped to dumb the public down through their media and public education system, are exploiting people's ignorance for their own ends Yes, it is good that you opted not to take that route, but many people do because that is what is pushed on them and they simply are not informed. They rewrote the laws so the banks could give money to people that didn't have the money to pay it back. Everything that is happening was engineered to happen.
With interest rates so low, people are not encouraged to save, and are encouraged to use credit cards. With the rising prices of living its not about saying no to debt, its just about feeding the family and buying new tv's and living the american dream. The average american household is something like 8000$ in debt, the government is somewhere around 15 trillion in debt... Any stimulus package just piles more debt. The only thing that can solve the problem would be a full on depression, but the more the government does to "stimulate" the economy, the longer and more dreadful the depression will be.
I agree most people don't have working brains. Come on, I go to community college I see a whole slew of them in each of my classes. People are informed enough to know that if you take credit, you have to pay it back. They just make really freaking retarded decisions. I concur that its all been engineered....and that any attempt to fix this is only gonna blow over in horrible ways. History shows that to us....but people want instant gratification. I am all for the barter system and community living, to tell you the truth. The land has no credit
Are you seriously expecting the government to save us?????????? Please tell me that you were being sarcastic, or something. Have you studied history or economics?? When has a government ever pulled an economy out of a recession. How is that even possible. What we need is less government. We need the market to pull us out of this depression. However, Obama is not going to let this happen, because he wants to Socialize America so the government can control us all. I recommend everyone get as much cash as you can and hide it somewhere so Barack can't find it and tax it. Offshore banks in tax havens like Liechtenstein are going to be loving Obama because their business is going to go through the roof, just like our taxes. Good luck, y'all
Being the pragmatist he appears to be I think Barack will let results and accurate economic information dictate what moves he will make. So I'am assuming Barack has read the CBO critique of the stimulus and will base his decisions on things like that.
Oh my god... are you freaking dense or what?? I think I made it quite obvious I was being sarcastic, hence the . Geez.
Which is EXACTLY what I have been saying if you actually READ my threads. Except this socialization won't have begun with Obama, he is just going to put the finishing touches on it. Bush was a socialist as well and has nearly tripled the size of government. Obama will simply pick up where Bush left off. Obama's administration will be Bush's administration x10.
^ I don't see Barack being as "socialist" as many people think as far as expanding entitlement programs. Where will the money come from? Keep in mind that America's demographics are changing because of the retiring baby boomers. Even before this financial collapse the issue of the Boomer's retirement and it's affects on SS and medicare were already big issues and will continue to be. This is even an issue in Europe. They are shrinking their gov'ts some and moving towards more market solutions. Examples: Analysis: Obama's toughest fiscal crises lie ahead Washington Times - DALE: While U.S. expands government ...
Well people have stopped buying on credit and the financial world is screaming poormouth. Because our economy and financial institutions are based on debt. What exactly is going to fix this problem? My guess would be if this country's economy was no longer based on consumerism, but on the manufacture of tangible goods. But we sold all that off. Let's have a close transparent look at Hedgefunds shall we.
you know what the dirty little secret to that is?? a whopping 3% of the package is going to infrastructure!! http://newsbusters.org/blogs/jeff-poor/2009/01/23/debunking-stimulus-myth-only-3-allotted-road-bridge-spending they make it out like all these jobs are going to be saved or created,that much needed infrastructure projects will get done,i got news for them, that wont even make up for states lost revenues going to infrastructure projects. this whole "stimulus package" is complete bullshit!!!
so can someone correct me if my math is wrong (its a lot of zeros. ), 3% of 826 billion divided by 50 (states) comes out to a little less than 500 million per state for infrastructure projects..(yes i know it wont be divided evenly,but for the ease of painting a basic picture i divided it evenly ) last year georgia DOT grappled with a 456 million dollar budget shortfall and through cuts managed to get it down to 189 million . the way i see it its almost a given with the economy the way it is georgias shortfall for just one year will be more than the total allocation from the stimulus.. http://www.whitlockavenue.com/2008/09/28/georgia-department-of-transportation-budget-issues/ so at the very best this saves a few state workers from being laid off. what a joke..
