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Here Comes Stimulus 2.0
In this Bloomberg clip, commerce secretary Gary Locke says that "if there is to be another stimulus -- and that’s being
hotly discussed and very seriously considered within the
administration as well as members of Congress -- it needs to be
very targeted, very specific and we need to be very mindful of
the deficit as well.In other words, with unemployment not improving after the first $787 billion was spent, with GDP improvements having peaked, and since at this point nothing matters since America will never be able to realistically service its debt, with mid-term elections coming up, and Obama's rating plummeting even despite an orchestrated 50% rally, it is a matter of months, if not days, before the President unveils another multi-trillion Treasury sinkhole. And since no horrible policy decision can go unused, the next stimulus is likely to be promptly followed by the Chairman announcing the next iteration of Quantitative Easing.
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Gonna need quite a few RATO bottles to get this lead balloon off the ground...
We (taxpayers) could make this much more cost efficient by just handing each big bank a book of blank checks and be done with it forever. At least this way we save on not giving the banks money so that they can hire lobbyists to get politicians to vote on bills to give our money to the banks.
I was also thinking with Stimulus III, we could just give people that actually has federal tax liabilities a million dollars each. There are roughly 100MM taxpayers that actually pay taxes. That makes about 100,000,000,000,000 (100T). Yes, that sounds like a lot. However, we are already into the trillions currently, let's just get it over with. The middle class would be the largest benefactors of this program.
As long as we can convince everyone to not spend the money for awhile, it may not cause inflation. To make the program better, we could pay people even more not to spend that money. We'll let people use their houses/cars/leaves as collateral at whatever price they decide is fair, just to make sure we aren't stuck with the bill.
Actually, giving people money and then paying them interest on the money you JUST gave them is probably the best idea I've ever come up with. I am surprised they haven't thought of that already. Seems like a win-win to me?
On second thought, if you just interchange the word "people" with "banks", and "middle class" with "executives and shareholders of every major bank" then you have our current stimulus program.
celtic gold pops the cherry.... stimulus#2 ...cash for flunkers
I recently heard Obama address the public's question: "Why haven't we gotten a bailout?"
Obama went on to give a definition of the fractional banking system and explained that money given to the banks will increase the money supply exponentially.
Of course, the Prez didn't mention that, because of excessive debt, very few businesses and individuals are in a position to borrow.
Obviously the guy doesn't get it or, more likely, isn't allowed to get it.
From what I was told/taught banks lend before capital injections and not after. They make their bets without government money even if its promised to them.
Does everyone here sings the same note ? I dont really see a divergence of view or a really meaningful debate. All I see validation of each other's view?
Is the situation that bad here in US? Pardon my ignorance because the economic scene here in India is ok.
Yeah, it's just paradise, over there:
_____________
India Failing to Control Open Defecation Blunts Nation’s Growth Share
By Jason Gale
March 4 (Bloomberg) -- Until May 2007, Meera Devi rose before dawn each day and walked a half mile to a vegetable patch outside the village of Kachpura to find a secluded place.
Dodging leering men and stick-wielding farmers and avoiding spots that her neighbors had soiled, the mother of three pulled up her sari and defecated with the Taj Mahal in plain view.
With that act, she added to the estimated 100,000 tons of human excrement that Indians leave each day in fields of potatoes, carrots and spinach, on banks that line rivers used for drinking and bathing and along roads jammed with scooters, trucks and pedestrians. Devi looks back on her routine with pain and embarrassment.
“As a woman, I would have to check where the males were going to the toilet and then go in a different direction,” says Devi, 37, standing outside her one-room mud-brick home. “We used to avoid the daytimes, but if we were really pressured, we would have to go any time of the day, even if it was raining. During the harvest season, people would have sticks in the fields. If somebody had to go, people would beat them up or chase them.”
In the shadow of its new suburbs, torrid growth and 300- million-plus-strong middle class, India is struggling with a sanitation emergency. From the stream in Devi’s village to the nation’s holiest river, the Ganges, 75 percent of the country’s surface water is contaminated by human and agricultural waste and industrial effluent. Everyone in Indian cities is at risk of consuming human feces, if they’re not already, the Ministry of Urban Development concluded in September.
What did I say to offend you? I just said that situation in India has improved compared to last year. What relevance has it to the link you have posted. Do you really know how to interact with people apart from being rude to them for no reason? Or do you only exist behind a computer screen?
I guess this site is full of idiots like you. All you know is to be a smart ass, paste links, criticise everyone and be a doomsdayer. Keep up on it, someday you will be right and then paste your prediction here on this site and be smug about it. Good for nothing people.
Let's break down your post:
"Does everyone here sings the same note ?"
"I dont really see a divergence of view or a really meaningful debate. All I see validation of each other's view?"
While this is a perspective that has merit, do you think you brought it up in the most polite way possible, yourself? Looks to me like you were looking for a debate. I had the instinct to respond aggressively to you. I didn't. If you are from India, there is no point in it, I dismiss your judemental tone as a lack of understanding our view of India. In other words, I don't judge you for it.
"Is the situation that bad here in US? Pardon my ignorance because the economic scene here in India is ok."
This is a tough one. Relative to what India might see as normal, maybe the US isn't so bad. Maybe we are a bunch of babies who need to STFU. We look at India and see that as bad. I believe that is why you were posted that article. This is how some of us see India, so we don't think India is okay. Meanwhile, the US looks okay to you because it does not look like India to you yet, which is okay, according to you.
This is about difference in cultural perspective. I see yours as a healthy view, however, you may have gone off too much on the person who posted that article. There is an arguement you were "rude" first. In reality "rude" doesn't fit.
No, it's not that bad here for some people (financial asset holders). What people on this site are most worried about is we're becoming India: a country of corrupt politicians who only look out for the rich people. Glad to hear India is doing well though, that's a load off.
and? how is relevant to the question i asked? So blasting India off makes u feel better?
Count the days to the next Congressional election. Only that which can be accomplished by then will be attempted. One can only imagine what will happen when it becomes clear that no party will have a majority. Then everything that can be passed prior to next November, will be. That will really be something!
Hmmmmmm, how do we slow down or stop Washington and Wall St.? I'm thinking a small platoon of cars winding around the streets dropping 1 inchh roofing nails every 500 feet or so. Wonder if street cams would notice the car in front of the slowdown?
Without the nails, enough cars together could stop things dead in their tracks. Instead of a million man march, a million car drive in (like a sit in). Make it festive, the spirit of the worlds biggest tailgate party. If you are a prepper, you might bring some of your preps. Share what you have with everyone. Could do this crap for days. Party, cook, sing, chant, demand change.