Stimulus
By Capt. Fogg
Stimulus package - yeah, that's the ticket. You can almost hear Jon Lovitz deliver the line. A stimulus package will turn around all the years of fiscal misconduct and everything will be fine very soon. Yes, and we're "winning the war" too. Funny that this flies in the face of non-interventionist dogma; funny that if anyone else had suggested it, they'd be screaming epithets at Liberals. Of course you're all too young or were busy watching sports when this tripe was given us a generation ago and of course you want to believe it, so you will.
The The Fed moved today to add as much as $200 billion to the banking system this month to offset the credit crunch so that the borrowing can continue in the private sector so that we can borrow our way out of the mess borrowing got us into. That and of course, the gargantuan Bush administration borrowing to finance spending that is not particularly beneficial to our economy, but just because we're losing jobs, trading good jobs for subsistence jobs; just because the 9 trillion dollars owned by foreigners are being dumped on the market in favor of Yen and Euros and gold; just because so many people in my area who were living well a few years ago are now bagging groceries at Publix and living in trailers; just because nothing really promises to stem the wave of foreclosures or the rise of oil prices, doesn't mean we can use the R word, does it?
"There are indicators suggesting that growth will pick up and pick up quickly. So the question is how quickly will it pick up" said Edward Lazear, chairman of the White House Council of Economic Advisers today. Did those indications come from the same kind of deep thinkers who predicted we'd be greeted with roses in the streets of Baghdad and who assured us that Saddam had stockpiles of chemical weapons and nukes ready to be bolted together like an erector set?
But hey - elect another Republigoon for all I care. I always wanted to live in a third world country anyway.
Cross posted from Human Voices
Stimulus package - yeah, that's the ticket. You can almost hear Jon Lovitz deliver the line. A stimulus package will turn around all the years of fiscal misconduct and everything will be fine very soon. Yes, and we're "winning the war" too. Funny that this flies in the face of non-interventionist dogma; funny that if anyone else had suggested it, they'd be screaming epithets at Liberals. Of course you're all too young or were busy watching sports when this tripe was given us a generation ago and of course you want to believe it, so you will.
The The Fed moved today to add as much as $200 billion to the banking system this month to offset the credit crunch so that the borrowing can continue in the private sector so that we can borrow our way out of the mess borrowing got us into. That and of course, the gargantuan Bush administration borrowing to finance spending that is not particularly beneficial to our economy, but just because we're losing jobs, trading good jobs for subsistence jobs; just because the 9 trillion dollars owned by foreigners are being dumped on the market in favor of Yen and Euros and gold; just because so many people in my area who were living well a few years ago are now bagging groceries at Publix and living in trailers; just because nothing really promises to stem the wave of foreclosures or the rise of oil prices, doesn't mean we can use the R word, does it?
"There are indicators suggesting that growth will pick up and pick up quickly. So the question is how quickly will it pick up" said Edward Lazear, chairman of the White House Council of Economic Advisers today. Did those indications come from the same kind of deep thinkers who predicted we'd be greeted with roses in the streets of Baghdad and who assured us that Saddam had stockpiles of chemical weapons and nukes ready to be bolted together like an erector set?
But hey - elect another Republigoon for all I care. I always wanted to live in a third world country anyway.
Cross posted from Human Voices
Labels: recession
posted by Libby Spencer at 2:33 PM
8 Comments:
pppht! the democrats are calling for this just as much as the republicans. ron paul is on the fniance commitee so i see those things sometime. Chuck schumer will argue that consumers need a break so cut the interest rate mr bernanke. sam brownback will argue that the storeowners need a break so please cut mr bernanke.
it's a beltway/ wall street disease. Yuo think hillary rodham clinton or Obama opposed either of these actions?
Another point well missed.
When I got to Singapore in 2003 the dollar exchange rate was 1.76SD to 1US. 4 months ago it had fallen to 1.51SD to 1US. Now it is at 1.38SD to 1US.
My Social Security in 2003 was worth about 2,300SD a month. Now it is at 1,800SD. I've lost 500 a month.
I retire in 2.5 years. I just pray that a new Democratic administration effects a re-strengthening of the dollar. But I'm not gonna hold my breath.
This comment has been removed by the author.
Latest report, CEO compensation is at an all time high, especially in the mortgage industry. The fat cats get fatter while dumb bumpkins loose their homes. A statistic to ponder: There are as many sociopaths serving as CEOs as there are serving time.
the CEO compensation is a red herring. at worst, it shows bad judgement in hiring practices. Howard Stern was given like 500 million or something to go on sirius satellite. but he's brought in like twice that. it's a roll of the dice and we mainly hear about it when it's a bad roll.
expatbrian- all they have to do is stop inflating. that's all robert mugabe has to do to stop the hyperinflation in zimbabwe. but it involves taking a look in the mirror and very few of our politicians are willing to do that.
our constitution is not what we are allowed to do, it's what we have allowed our government to do. their rights, not ours. now, we are simply here to make money for them. the balance is off.
gold standard
also:
http://www.goldline.com/market-news/radio-show.html
^this is a great show. granted, it's an ad for their stuff, mainly gold and silver, but it's still very informative. it's like left-libertarian if there is such a thing
another one today. won't work either. this "market as force of nature" stuff is so silly. the underlying problems are the same, the result will be the same.
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