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Obama To Unveil A New(er) Deal: Here Comes $50 Billion For Rails, Roads And Runways
The New Deal cost America $50 billion in 1930s dollars. How the times have changed - today the White House will announce a new and improved New(er) Deal, which will invest $50 billion in a 3Rs sequel - road, rail and runway, infrastructure developments. It will have roughly one thousandth the impact of the Roosevelt plan, demonstrating once again that in 80 years the only thing that has actually worked in America is the ongoing devaluation of the dollar. But don't call it failed fiscal surplus infinity +1, that would certainly not help the Democrats' InTrade odds this November. But since ARRA has now failed and GDP is stalling, and the Fed is pretty much powerless to create anything except a huge spike in gold prices once it goes full retard on monetary policy, what does one expect the president to do (aside from the obvious which is whatever the teleprompter tells him)? At least Paul Krugman will be giddy: there go two more $25 billion bond auctions to spike the economy for one or two days, only to cause another output vacuum shortly thereafter. And since no Obama plan could be complete without the creation of a czar or a bank to act as chief administration of fund misappropriation and embezzlement, the plan will also see the creation of an "Infrastructure Bank" which Wall Street is already actively plotting how to frontrun and to vicious rob blind at the expense of future generations. So congratulations America: ten days of total tax revenue were just washed down the drain to keep a few road workers busy: we'll skip the obligatory "Change you can..." jokes at this point. We also won't mention the imminent receipt of Warren Buffett's "thank you" card by the administration - that's a given.
More from Politico:
Seeking to bolster the sluggish economy, President Barack Obama is using a Labor Day appearance in Milwaukee to announce he will ask Congress for $50 billion to kick off a new infrastructure plan designed to expand and renew the nation’s roads, railways and runways.
The goals, according to the White House: “Rebuild 150,000 miles of roads — renewing our commitment to the backbone of our transportation system … . Construct and maintain 4,000 miles of rail — enough to go coast-to-coast … . Rehabilitate or reconstruct 150 miles of runway — while putting in place a NextGen system that will reduce travel time and delays.”
The measures include the “establishment of an Infrastructure Bank to leverage federal dollars and focus on investments of national and regional significance that often fall through the cracks in the current siloed transportation programs," and “the integration of high-speed rail on an equal footing into the surface transportation program.”
“To jumpstart job creation, this long-run policy front-loads — through a $50 billion up-front investment — a significant share of the new infrastructure resources,” the White House said in a fact sheet. “As with other long-run policies, the Administration is committed to working with Congress to fully pay for the plan.”
White House chief of staff Rahm Emanuel has been pushing an infrastructure plan in West Wing meetings for weeks. But with the November midterms looming, officials were having trouble finding a way for the effects to be felt immediately.
A White House official said: “Today in Milwaukee, Wisconsin, President Barack Obama will announce a comprehensive infrastructure plan to expand and renew our nation’s roads, railways and runways. This proposal is among a set of targeted initiatives that the president will outline in Cleveland on Wednesday to support our economic recovery and ensure long-term sustainable growth.
“The plan builds upon the infrastructure investments the president has already made through the Recovery Act, includes principles the president put forth during the campaign, and emphasizes American competitiveness and innovation.”
At 3:10 p.m. Eastern time, Obama is to deliver remarks on the economy at Milwaukee Laborfest, in Henry Maier Festival Park.
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Fuck the Fascist Emanuel.
This is a stealth gift to Buffett, whose Burlington Northern railroad will certainly have first dibs on the newly expanded national rails' best routes.....
No Bull
Gee Wally, Uncle Warren is sure a smart investor huh?
"...stealth gift to Buffett"
Excellent Point
All of Obummer's owners get largess... This ass hat needs to go.
Why the fuck does this joke of a spending bill need a bank? Why don't we just set up an Afghan central bank, have Wall Street loot it and bail IT out?
Oh, we did...
Gift to Warren and all the other Dems who have their heads on the block. Where was this a year and half ago. Bullshit for sure.
Timing is everything. We're really moving now!! We'll all be dead by the time this thing gets off the ground. And I don't mean us personally, I mean collectively.
Next to Wall Street, road construction is about as isolated of an economic cause one could find. The bonding requirements to rebuild bridges, roadways, airports, and railways are so big that it's generally a small group in each area that will compete for all the jobs.
And it's not something that requires a whole lot of trades, as opposed to building construction which spreads the wealth around a lot more.
Very true - I have a client who does various asphalt type work - saw him just a few months ago and inquired as to whether he was seeing any trickle down from the last round of stimulus. One, he'd need one or two full time contract clerks just to get to the point where he could bid for parts of the smallest contracts. Two, the construction arms of the local asphalt distributor wind up bidding the total job cheaper than what they'd sell him the asphalt for - he can't figure out - they'd make more money selling him the asphalt to do it....but obviously there is obviously something bigger at work.
It may be just to cycle the money through two different business units to prevent/delay layoffs at your client's asphalt distributor.
Money will be "spent" and not one cubic yard of asphalt will hit the ground.
Look at New Orleans and the money that trickled down thru the contractors to end up with the guy driving the roofing nails getting nothing.
particularly if the steel is purchased from China. Just saying...
I heard about this, the new six-year plan.
Sounds a lot like a five-year plan. This has been expected.
Oh why not, what's another $50 billion at this stage when Uncle Ben can create it in a nano second.
We're so fucked.
New roads, rails would help in a poor economy
What good is it if there are new industries to come up in the region-most infra projects in emerging countries are associated with SEZs
Just more money down the drain and roads to nowhere
Well obviously we are in desperate need of decent infrastructure to transport all these new and innovative goods we are producing. I mean this economy is booming and has virtually exploded due to the stimulus.
And when these infrastructural works are finished we will implement the next money-print subsidized programm where all US citizens will start to cut each others hair at the rate of $ 10,000.- per haircut, nobody will ever be poor again. We will not forget about the bold of course, they will receive a scalp massage at the same rate.
Mission accomplished!
LMAO
"Well obviously we are in desperate need of decent infrastructure to transport all these new and innovative goods we are producing. I mean this economy is booming and has virtually exploded due to the stimulus."
Bold leadership...unprecedented...historic even. (Sigh)
I'm thinkin golf course expansions...he can call them Pivot Divots so the media stays on message...LOL.
Fukking awesome - should be good for a 2 point long bond rally
Is it 1936 yet?
Sorry Rip Van Winkle, but this is 1984. Each of these roads and stations will surely come with cameras, detectors, and guards.
Good point. Although in a similar vein I'll defend the call of 1936 by suggesting that right about that time the phrases, "Your papers, please" and "Ve haf vays of making you talk" came into vogue. Fashion being cyclical these golden oldies are making quite the comeback.
No. 1984.
This $50 billion will do the trick.
harharhar
that's right, because it's different this time ...
Lets compare 50B for infrastructure to the 185B AIG recieved, and thats just one of the many. Talk about a slap in the face, and as the article states this will be another opportunity for the politicians and corporations to rip off the common man. Time for a tax revolt.
OINK!
To help absorb the hit to future generations, the administration is kindly sending all people born 2001 and later a free tube of K-Y.
And what is K-Y derived from? We're truly fucked.
Elvis has left the building.
Obama & Company pumping these kinds of fiascos is like throwing rocks into the Grand Canyon to fill it up. That is the Goliath these creeps are just starting to realize exist in their world. 2 days of bond offerings to save November elections? No wonder we should consider these Beasts in NY/DC to be no different than alien Vikings pillaging the lands.
My California congressman lives in Maryland with his family full time.
Nobody is coming to help.
The ultimate protest will be burning the Federal Reserve Note like the Draft Cards of the 1960's. I can already feel that sick feeling in my stomach.
Hey! You can't use the unknown comic! I claimed him first!
I wouldn't say that too loud if I were you. You seem to be half the man that he is.
The First Teleprompter said that this will be paid for, yet does not give any specifics. So how is the FT planning on paying for this $50B, Timmy back taxes?
They will whack out tax provisions favorable to multinationals according to what I have read.
Obama will position it with the tried and true "the fortune 500 companies will lose a few tax loopholes to put John Q. Public to work on Davis Bacon projects......"
Should be fun to watch the Repubs spin this as a midterm bribery of the public affair.
Should be fun to watch the Repubs spin this as a midterm bribery of the public affair.
It's not?
If it is not "midterm bribery of the public affair" then please tell me what it is exactly? We spent $800B on stimulus, large portions of it going to road and infrastructure maintenance and improvements, unemployment went up.
If I remember correctly large portions of the original stimulus funds are yet to be spent.
Another ironic part is that Barry O can either have this spent quickly or have it go through the usual bureaucratic channels and doled out only to unions but not both. Let's see which he chooses.
how about giving it only to states wirth Rat governors and unions? This is to help Jerry Brown in CA, they can use the $$ to pay their unition workers instead of building new roads.
And when you ask them, "How much should we give?"
Ooh, they only answer More! more! more!
The FT 2012 tax plan:
A. how much did you make in 2012
B. How much did you spend?
C. Difference between A-B.
D. Send Line A? There, the $50B is paid for.
This only works if you put lots of men to work doing hard labour. Not 5 guys drinking coffee and eating donuts watching a guy in a big earth mover.
For road workers around here, I am almost certain there is a state mandated course on 'proper techniques for shovel leaning'.
"Construct and maintain 4,000 miles of rail"
Warren Buffet:
"Thank you Satan! now we're talking, I was afraid that you had forgotten about my all-in bet on American railroad"
"Rehabilitate or reconstruct 150 miles of runway"
The public: "WTF, aren't these runways up to standard....?!"
The infrastructural worker: "Look dude this runway is brand new and doesn't need any rehabilitation."
The infrastructural chief of operations: "In that case reconstruct! The mandate says rehabilitate or reconstruct"
LMAO
Nothing beats another Uncle Sugar high. Since this is obviously another midterm elections salvage job, I assume Team Obama believes the voters will get all tingly over $ 50 billion pissed down the Build America rathole of kickbacks and inflated gubermint contracts.
At least we are accustomed to Big Fail and Big Con.
Tyler,
Is there a way of highlighting changes when posts are updated?
DavidC
New(er) Deal project priority #1 - Build a bridge to Hawaii.
The biggest roads, rails, and runway projects will be in China because of U.S. balance of payments with China and the Chinese giant vacuum sucking jobs out of U.S.
Hahahahabahaha
not enough "haha" 's .. You need a view billion more..
So the little boy who saw the economic tide go out and leave a wasteland thinks that peeing in the empty space will actually increase the size of the ocean?
This has to be one of the stupidest plans I have heard except for those union members who will be getting this handout from the taxpayers to boost spending for Democrat party candidates.
Classic Mussolini style thuggism at its best.
Not exactly Mussolini, he had better methods, this guy is more transparent.
The question is how do you stop Congress using public funds to backstop Union leadership who do not serve the membership but instead serve their masters in Congress. You do not until the house changes hands we take it with a smile and hopefully this is a lesson to all those who ignored national politics over the last 25 years.
The InTrade numbers are what they are, it's Republicans in November.
Then the US starts a trade war w/ the mercantilists .... gold will be very shiny at that point, unless of course they come to take it away.
Repaired highways will be very nice when driving on your way to Thunderdome.
Beyond the sarcasm which has very real truths embedded in it, this is not going to be easy.
Chart: ES
Don't think the market will like this; it's Labor Day and it's September (finally).
http://www.screencast.com/t/MzUyMzFmN
Actually 50B is just to kick off the program that is expected to run for 6 years.
SEPTEMBER 2010
http://williambanzai7.blogspot.com/2010/09/september-2010.html
OBAMOSLOTS
http://williambanzai7.blogspot.com/2010/09/obamoslots.html
I read drivel like this and just shake my head. People never learn anything. None of this crap worked in the GD and it won't work in GD2, but low and behold they parade it out as the answer.
worthless, absolutely worthless...
I wouldn't say worthless, I will guess that they will redirect most of it.
We do need some R & M on our infrastructure, but they won't do the right thing you can bet your ass. Everybody knows that stuff you build has a lifespan and it ain't 100 years w/o R & M.
I didn't junk you btw
I'm not a fan of unions, nor am I a fan of incompetent to barely competent to psychopathic CEOs who earn 300x what the entry worker earns while destroying value.
If the Unions must go (i.e., when Municipalities can't pay for firemen, police, teachers, sanitation, roads etc. because the labor costs are so high given exhorbitant retirement packages and health coverage) and if Union work has truly become synonymous with corruption and lack of productivity, then perhaps the government funds could be be used in a better way ... (oh they are going to spend this money in a last act of desperation no matter what)
*Sarcasm High, Embedded truths higher*
PV the average earnings of a Chinese peasant, $2000, over a ten year period discounting @ 2.5% (Japan muddle through). There are about 1 billion Chinese earning this or less. With $50 billion, the Government could buy some 3.2MM Chinese workers for a ten year stint. Bet these guys would work pretty hard. They did a nice job last century on the rail roads. And new jobs created would go through the roof ...
On Labor Day no less, have they no shame?
Of course, Labor Day! (smacks self in head). If that's not a signal as to where this money is headed then I don't know what would be.
I guess the SEIU will now be able to afford to send more paid protesters out to push Obama policies down the throats of disgusted Americans.
Whatever you do don't call this a 2nd (perhaps 25th is more appropriate).
Labor Secretary Hilda Solis said the infrastructure plan "will put people back to work immediately. These are projects and efforts that have bipartisan support that we know could possibly get support in the Congress and the Senate." Given the problems with the first stimulus package, the administration is eager to avoid this plan being labeled a second, smaller follow-on. "I don't think we're talking about a second stimulus.
So exactly what are they talking about.....fairies and unicorns?
What a joke this plan is. Spending more money we don't have. Guess it's okay, the fed will just monetize more debt. We're fully aware that the bond auctions are total bullshit any how because the fed just plays make believe. Further coiling the gold sping, eventually they lose control of their ability to supress gold, but I should thank them for allowing me to continue to amass the real stuff....12-fity is cheap to me considering our paper money will be next to useless, mind as well by something real.
Another bailout for the governing classes and their minions.
Who's going to gain from this? Well, it won't be paid out of general funds; it'll all be converted into 30 year bonds, so the lawyers and accountants at the favored firms will do well there. Then the same old heavy construction firms will build the things, but they are de facto government employees already.
We do need infrastructure work, but the way we do it today is expensive, top heavy, and surely not stimulative... they should have reformed the infrastructure industrial complex before the money flowed.
No help to the unemployed, no help to the average taxpayer... more insider goodies. Economic triage to protect the ruling classes and their loyal dogs.
"We do need infrastructure work, but the way we do it today is expensive, top heavy, and surely not stimulative... they should have reformed the infrastructure industrial complex before the money flowed."
I'd rather see an expansion of this criticism, rather than the usual echo-chamber sound off today.
Did you miss the term "Infrastructure Bank"? Especially the word "Bank"?
Any use of that term should tell you who will benefit. Don't you know there is a lot of overhead and paper work that needs to be done, contracts put out, and, OH!, the bookkeeping will be horrendous. If we are lucky 10% of the funds will actually build something.
If we are lucky 10% of the funds will actually build something.
But what will they build and how will they build it? Recall Robert Reich's testimony before Congress regarding the first Obama stimulus plan: "I am concerned, as I'm sure many of you are, that these jobs not simply go to high skilled people who are already professionals or to white male construction workers"
As the administration intends to build infrastructure without employing high skilled workers, who will want to trust their lives to these new highways, railways and runways?
Here's Robert Reich's comment on video. See it and believe it: http://www.youtube.com/watch?v=wSw5RQDLhOA
What this country needs is guaranteed stimulus effectiveness with lower costs. So when is Congress going to make it happen? All they need to do is pass Comprehensive Stimulus Reform!
Not nearly enough. If they had not given so much to the banks and the wars perhaps there would be something left to build this country back up again. Best to let the small business owners and entrepreneurs take care of fixing this mess. As usual.
Happy Labor Day
If permanent tax structure change does not happen....nothing happens ....for the better....
ie The elimination of the individual/corporate taxes ....to be replaced by a very broad based tax...ie small basis pts. per month on cash balances...would be a GAME CHANGER....
................................................
To be coupled with a maximum 10% government size with respect to the economy....
..........................................
These polys just do not get it.....
What will it take for you people to realize that supply side economics and balancing the budget in a balance sheet recession will not help and is both practically impossible and self defeating?
What will it take for people to realize this isn't a balance sheet recession?
Another $1T of funny-money down the shithole? Another sovereign default? Or two? Or five?
It is absolutely a balance sheet recession.
Please elaborate to the contrary...
You first.
Edit: Agree with the illness (balance sheet recession - I was incorrect in my first statement) - completely disagree with the prescription (continued spending orgy).
Silver Bullet,
Personally I reckon it's a balance sheet depression...
DavidC
The roads to the golf courses and lobster buffets had a lot of potholes. Shook the limo something terrible. So I told Michelle, "I must and I will do something about this."
"Let me be clear... uh.. potholes pose a great threat to this nation"
And conversely, it is possible — indeed, necessary — for the nation as a whole to spend its way out of debt: a temporary surge of deficit spending, on a sufficient scale, can cure problems brought on by past excesses. -Paul Krugman (NYT OpEd 9/6/2010) http://www.nytimes.com/2010/09/06/opinion/06krugman.html?_r=1
Do you see where all this is coming from? An entrenched quasi political cum philosophical belief in Stimulants as a way of life.
The US needs revitalization of transportation to address major competitive deficiencies. Major. But it needs to be integrated, forward-looking comprehensive, and well-planned, not a jobs program. We need to be competitive in air, rail and road, instead of being chronically behind. Airports are inadequate. Highways date back to the 1950s. Cities lack major arteries. There is no really "rapid" transportation in America these days. This could be an opportunity to plan for the next century.
Instead we're getting a one-shot deal, front-loaded (as per White House sources) with the aim of producing a quick jobs fix. We need a visionary 5-10 year plan.
Sometimes doing too little too late is counterproductive. And not capitalizing on big opportunities is unforgiveable.
We need to start building Nucs with breeder reactors before doing this nonsense. Won't be done until it too late and its already too late.
Agreed on the Stimulants as a way of life comment. Wonder how that will end?
Russians and Chinese do 5 and 10 year plans. We're Americans don't ya know.
We shoot from the hip.
And conversely, it is possible — indeed, necessary — for the nation as a whole to spend its way out of debt: a temporary surge of deficit spending, on a sufficient scale, can cure problems brought on by past excesses. -Paul Krugman
That Krugman quote is the funniest thing I've heard all day. But I've been watching the Jerry Lewis MDA Telethon and between Carrot Top and Jerry himself I'd have to say that Krugman had no serious competition in the belly laugh department.
PS: Don't forget to drop some coin on Jerry's Kids. The local host guilted me into sending a few bucks, now I'm laying it on you. Those phones should be ringing but they're not!
Gee, spending lots and lots of other peoples' money (that we don't even have) in a scatterbrained, shotgun spending blitz to try to stop the bleeding of public support. That's precisely the original, out of the box hopey-changey thinking we were supposed to expect from the Unicorn King upon his coronation, wasn't it?
Drowning. Flailing madly.
But remember - Obambi is going to be all about "fiscal discipline" the second-half of his term. Right?
Riiiiiiiiight.
Lets say that the best case scenario happens and you get to improve infrastructure without the costs being too high.(I don't want to think about what this will do to taxes)
Did it really help anyone?
Even if you do these bailouts you are still leaving companies and people to wallow in horrid economic conditions.
Its like helping a poor child by correcting some physical ailment but sending them back to squalor once the physical ailment is gone. Not only that but in this scenario the child will return with a new physical ailment because the environment is so hostile and the process will start over again.
Also, I should also be allowed to judge the merits of future bailouts/stimulus programs on the success of previous ones. If we don't start looking at what has happened with the previous programs how are we ever going to know what success or failure looks like?
We can't just allow those in power to rewrite what they said to the effect of: "Well the last bailout was just too small and we knew that" or "You didn't understand what we meant by stimulus spending so let me adjust the definition a bit".
...more anecdotal evidence... in my hood they've excavated the street 4X in 12 months...first water mains... then cable... then gas lines... each time the work was on top of the last work... and then redone... no coordination... no records of when the last work was done... literally pooring taxpayer $$$ down an endless hole... water main replacement cost $12MM... specifically $250K per foot... priceless...
Probably unintended, but you got the "poor" part right!
Great stuff...
Like I keep sayin, the gov't will drive credit growth. Wait for when they try to MAKE you borrow.
Look, they don't need your income or your taxes, they need you to BORROW and stay on that hamster wheel
Wow Trav, you really nailed that one.
Have a simple question I have never heard answered well: "If money is created out of thin air, and then loaned out (to us on the hamster wheel), WHO creates the interest money to pay off the loan principal AND interest?"
This seems like the easiest definition of a Ponzi-scam in human history. Am I missing something?
FRNs are borrowed into existence and the additional FRNs required to repay the loan plus interest are borrowed into existence -- thus the hamster wheel analogy.
And yes, it is a Ponzi scheme.
Thanks Crocket...
My issue of total disgust is that the moment the FRNs are borrowed into existence there is not a corresponding amount of interest money created; thus making it a mathematical certainty that someone in the food chain is going to go broke forking over the additional money to the 'lender'.
I know the money to make that interest payment will be borrowed as well, but I find it rare to hear people put the concept of obvious deceit in these terms. That is why I told Trav that he nailed it...
There should be a new term created for this, as Ponzi scheme seems too small in scale for comparison.
Fraud is right there in the dictionary. No need to reinvent the wheel.
A student, of anything, must use dictionaries to avoid violent misunderstandings.
Imagine the confusion if one tries to understand without correct definitions?
Oh, wait...
When doe's it end? This country is bring run into the ground, and not by accident.
I think it will end with mushroom-clouds...
Don't like to admit I read Denninger today, but amazingly he sorta called for a work stoppage. A great idea if everyone could go along for a month, just a month, it all comes down.
My thought is that strategy is way too far left for this crowd.
way too far notgonnafuckingwork for this crowd. If the public sector has not felt the deleveraging process and has largely been untouched by the downturn, leading to further cannibalization of the private sector, then who the fuck is going to stop work? What incentive do government workers have to stop working? Everything is catered to their demands... The government will gladly fill the void.
The average American can't organize a weenie roast, let alone a work boycott.
I boycott work every chance I get. You'd be surprised how little organization is required.
+++ amidst this depressing development, that made me laugh... tnx.
Work stoppage? Great idea. I'm leading by example. I haven't worked (for pay) for 10 years now. ;-)
They pretend to pay me; I pretend to work?
This "roadway improvement" thing makes me nuts!
Here in South Florida, (I don't want to be too specific about where I am) I have witnessed the following "infrastructure" projects paid for by the stimulus plan:
1) A car rest area along a major highway
2) A car rest area along a minor highway
3) A 500 Million dollar set of improvements and new bridges over a series of roads that service a population of... wait for it.... 30,000 people
So, whats the mythical Keynesian multiplier on a fucking car rest area?
At least you're getting some ARRA improvements since you live in a state where Dems need votes. Anybody else driven cross-country lately? To me it looked like millions of $ of propaganda signs for Illinois and the battleground states/districts, and nothing much for the traditionally Republican states. People were mostly working though, and I figure it's better than funding people to lobby for more stimulus $, or making sure no rich folks suffer for risking their bank on CDOs and MBSs.
The old rest areas are fairly practical. Simple parking and restrooms. Room to walk a dog. A couple tables. Now they are big affairs, without enough parking, without enough toilet stalls, but big buildings with high roofs, expensive tile, and lots of picnic tables and shelters that no one uses. Somebody makes money. But the parking lot is full by 8PM, and truck drivers move on looking for a spot to park and sleep.
Be afraid; be very afraid...
"Granny Shot To Death 7 Times By Cops For Refusing To Answer Census" - http://www.youtube.com/watch?v=djoDgiPWVwIWhat's happening to the once great United States of America?
Please detail what time period you believe the US was 'great' -- I'm honestly curious.
Right here, right now as these people here prove quite nicely.. These Americans come together to bitch, yes, but also to propose solutions to a set of problems we all face. Do you propose another country that has done anything like the things like the U.S. has done to improve the lot of people around the world? There is none who can claim the mantle of greatness like the U.S. and all your negativity doesn't change the facts.
Heh. I used to live with hippy guy years ago that always used to ask me "why I was so negative?" every time I simply questioned the methodology and motives of his actions. If you don't feel like mentioning a specific time period to back up your claims, so be it
I'm no hippy. You want to discuss methodologies and motives of this country, its ideals and what it has accomplished compared to any other burg on this rock, lets go...
1776-2010
I was initially responding to this comment:
"What's happening to the once great United States of America?"
..in order to be "once great" - there has to be two different time periods - one in which said country is said to be "great," and one where it is not - or at least "less great". Citing the entire period of years the US has existed does not answer the question. Pick a timeframe. When, exactly, was America "once great?" the 1950s? The 1830s?
Also you are immediately setting up a straw man by continually asking for a comparison to some other nation. Let's compare the US to itself, for a moment. Where people better off during your chosen time period?
it occurs to me, that, even as not-so-great as you imply it has been (the US), it seems to be getting much worse at a unsettling rate.
maybe that's where our concern is rooted.
I agree. Although "things getting worse" and "once great" are two completely different things.
Splendid idea, because plainly there's so much rail undercapacity and people are driving and flying so much more.
Smoke and Mirrors For the Elections
Somebody smells an ass kicking in November. Better phony up a "jobs" bill to fool the sheeple with back door cash to Buffet (RR) and Wall Street (We need a "jobs" bank). Just like a phony Obummer "reform" bill...
Is Jamie and Lloyd's puppet Obummer's only answer to everything a bank and a bank bailout?
So how many jobs were saved with that first $700 billion? Not even Obummer and Rahm-tard's?
Obummer Jobs Record
In our next stimulus, we will hire 1M out of work American to dig a giant hole. Immediately after, we will hire another 1M out of work American to fill in that hole.
Stimulus creates jobs. Therefore, it must be a good thing for our economy. No need to think it further than that.
As a male prostitute, I will no longer accept the dollar or the euro in payment for my services. However as an Armadillo, I will gladly accept any form or payment.
Best regards,
Econolicious
Got the math question wrong again therefore as a mathematician I will only accept dollars.
Funny. Pythonesque.
Another 20 million for commie signs.
http://www.ihatethemedia.com/20-million-spent-on-stimulus-road-signs
1/1000th in a country more than twice the size now. That's Nero for you. Impeach the bum. (of course I wonder if ZH is incorporating ALL of the plans or just one of the MANY FDR programs in those numbers...meaning 1/1000th is overstating and only comparing this to say WPA and not the CCC or other ones, which would imo further show how putrid a plan this is)
Where's a national mag-lev system? Oh, we want China to have a 30 year advantage over us there. Hell they almost do. But I guess the great sage of Narnia isn't involved with mag-lev. Does NerObama really not realize how easy it is to read between the lines on his bs? Guess so.
What about the falling bridges? How many stimulus bills will be written and this not be addressed. Hell even 10 percent addressed. You'd think this be sort of a high priority. We did have one fall during rush hour traffic in Minnesota. I mean that's sort of something you can't hide or forget.
Oh that's right, NerObama's non-economic team believe more in creative destruction than actually creating anything besides a mess with a certain hand motion to a certain bodily orfice.
Now, through creative destructive policies it was a chance to build something else and you didn't even have to pay for demolition for that Minnesota bridge. That's what the idiots think.
Ineffectively making lemonade from lemons isn't always a good thing, when you didn't have to choose lemons to begin with. It's supposed to be reserved for accidents and tragedies, and just replacing things with passage of time or whatever unknown strikes. Not an active economic strategy to employ. Idiots.
I remember them saying something about needing to update the air traffic controllers, but can't remember if they put the money to it yet. I remember it got delayed. I'm thinking maybe this portion is really the air traffic controller update money thrown in and called stimulus now? That's a bit of a crock if true. So it should at this point, be expected.
See all these things we were going to do, we'll now lump them all together and call it stimulus, when really it's doing what we were going to do (pitfully small and delayed) anyways. Those roads your state was going to pay for resurfacing anyways, or if they could afford it? Well now it's all powerful STIMULUS.
What about NAWAPA Nero? The North American Water and Power Act would be a great start. That's a REAL program, not this penny into the fountain approach.
A commitment to more roads? Unless you have lots of nuclear power or fusion you'll be burning fossil fuels, as wind and solar won't cut it (the max energy that can EVER be derived from these things is horribly small).
Wind and solar (at max effectiveness) is to fusion what an ant is to the size of the Earth.
Hell even nuclear can be done for $0.015 kw/h, if done right. Sure beats wind and solar. ($0.250-0.350 kw/h). Yes excuse the three digits and dollar sign, but as you can see we're talking different scales here.
Fusion has all the green benefits, without all the green fascist bs. So if you must be a green fascist idiot, then be for fusion, not crappy wind and solar. Where's the fusion program? It's not as if we don't need it.
With fusion does such fascist malthusian ideas really make much sense? Of course not. Depopulation? Why?
No need to follow the Queen's monetary and green bs. That is unless of course you always want her to be in control. As we've seen only just a taste of the effects of her organization's, Inter-Alpha group's, shitty fiat and derivatives decisions. The rest is just around the corner. How about something different and real, instead of a digital printing pressed fueled shell game?
NAWAPA is the way to go for REAL stimulus. With actual tangible benefits. HUGE tangible benefits. Also help out our so called immigration problem. *cough bullshit* *no problem other than regular crime* *nothing out of the ordinatry*. There are plenty of problems to fix around the border, but none of them involved a Western Wall to be built between us and Mexico. Should we all start praying at it too?
But then again we aren't actually trying to SOLVE problems are we? Just pretend to. The idiots think, 'it's psychology stupid'.
Forget about changing biospheres, capturing wasted Alaskan fresh water (we must CONSERVE instead), forget add-ons for a worldwide mag lev rail links. Forget about delivering water to Mexico instead of illegally siphoning it all off.
Forget about how such American undertakings give opportunity to Mexicans to build their own society up, which they most definitely would. (at least the desire would be there, but of course politics can fuck stuff up). It's not as if Mexico doesn't have cement. It's not like they don't have construction workers by the millions laying around. Hell it's not like they don't have AMERICAN training by building shit here.
Forget about the linkages that can be formed, including over panama canal, and how columbia, being the entry point into south america could benefit. Anyone think Columbia could use such wealth creation? Of course these are later steps, but hopefully not too much later.
Forget about anything that can actually increase real productivity and cut costs and shorten the time of things. Because that's not the point of stimulus. It's supposed to be one off nothings, and tax cuts pocketed (or not enough of a difference maker to save a business...duh it's the SYSTEM that's broken). It's mad money perfectly spent on something that gives us little to no return.
It's all psychology don't you know. What people believe is real is real. Or so the idiots think.
I guess I should congratulate Nero on something, I guess you could say it's a big toe's cuticle sized step in the right direction. Woo hoo. Break out the the good vintage. Much too little, far too late, and the other problems have nowhere near been fixed.
You pay for NAWAPA by cancelling the bs bailouts among others. Which can and must be done. No cancelling, no recovery. Glass/Steagall, say it 10 times. No watered down version, FULL implementation.
Good stuff
Barney Frank - lying D-bag
http://www.larouchepac.com/node/15691
Mis-allocation Anyone?
http://www.larouchepac.com/node/15694
Oh yeah don't forget tomorrow Bailout Barney Frank debates Rachel Brown. It's going to be fun watching Bailout Barney squirm and look like Children's Barney tomorrow.
Speaking of Dinosaur Barney tune.
"I love wall street
They love me
We're as happy as two scumbags can be
With a great big lie and a shift of wealth from you (people) to me (banks)
Welcome to the Recovery!"
http://www.larouchepac.com/node/15663
http://www.rachelforcongress.com/
Apparently they'll have the debate on her website after it happens. Must See Grilling.
nice rant! That was awesome.
The problem with these trains, Mag-Levs, monorails etc. is that the running and the maintenance with union wages cost far more than the revenue that can be generated.
They will only be cost effective when the gas price eventually reaches $8 a gallon.
Nice rant indeed. I for one am tired of seeing "wind mills" littering our beautiful mountains. A 3 GW Nuc facility takes all of a couple of acres and does deliver electricity at a penny and a half per kilowatt hour.Last I checked (nine years ago) Palo Verde was delivering @ a penny per kilowatt hour and evaporating Phoenix's waste water...
What about the falling bridges?
Never miss an opportunity to spin the Kelly's Heroes soundtrack.
Burning Bridges - Kelly's Heroeshttp://www.youtube.com/watch?v=OqSiLL8U3vo&feature=related
Only $50 billion? My, how timid they have become. Not enough to satisfy the economics professors, but just enough to piss off the country in time for the elections. Piper Palin with her lemonade stand has more business sense than anyone in the Obummer's administration.
Look at the bright side. Its a great time to rebuild roads what with nobody having a job to drive to anymore. No traffic delays.
Any papers noting the multiplier effect of infrastructure build in a developed nations on a glidepath to slow or no growth (w transfers)? Last I checked trains, ships and airplanes still moved slower than bytes. As for Buffet see if he gets some money allocated to building a western coal port to tap the thermal crossover export market. Labor stripped (globalization), asset stripped (financial globalization) and now resource stipping = decline. As an aside high speed train has done wonders for the French economy.
Labor stripped (globalization), asset stripped (financial globalization) and now resource stipping = decline.
+1
I don't know if this is pie-in-the-sky stuff, but what about thorium as an energy source?
http://www.telegraph.co.uk/finance/comment/7970619/Obama-could-kill-fossil-fuels-overnight-with-a-nuclear-dash-for-thorium.html
It most definitely is not pie-in-the-sky. Thorium reactors are in operation today. We have plenty of it in the U.S. There is no reason not to build them.
ROAD AND RAILROADS TO NOWHERE!!!
TOOOTOOOT!! Whoehahaha :)
I wonder which of his buddies will get the contract to build them.
SO:
Go long CAT
Go long GE
Go long Drys
Go long EXM
Go long... Berkenshire? Inside trade knowledge of also buddy rubbing?
I think this is another example of what a tin-ear Obama and his team have when it comes to politics and the mood on Main Street. Another stimulus package will absolutely backfire and turn the tide even further from Obama and the Dems. The money will go to Unions and other groups that already support them. The independents overwhelmingly are against any more stimulus and bailout. It's almost as if Obama is saying "Screw it, we're going to lose anyway, might as well throw $50B more to my friends while I still can".
not to speaking about the german banks that now need another 105 billion.
So many more will soon follow suit.
At a US scale that will be another trillion or so.
I am so sick of Obama's bullshit I could scream. The best stimulus package he could ever deliver would be a resignation letter with his name on it. Shit, I'd settle for Joe at this point.
must pass this on ...
can't keep it to myself ...
http://www.youtube.com/watch?v=ChkAdoNwSn0&NR=1&feature=fvwp
At some point it ceases being money and simply becomes a concept.
2+2=5
This is not real. Nothing is real anymore.
I did alot of road travel over the past 6 mo. I was surprised to see sign at highway construction sites advertising that they were being paid for by stimulus money. Mississippi repaved large swathes of I-20 (it needed it badly). Around Chicago on I-94 much work is being done. I-25N from Denver to Ft Collins is reaping the benefit also as was I-24 thru Tennessee and I-65.
Perhaps my expectations have dropped so low that I expected road improvements to be "talk" but no real action. At least there has been real work done to improve our highway system.
Highway projects are planned long in advance. The work never stops. What was porkulus and what was regular funding, only the highway departments know.
Oh goodie. Another Big Labor pay-off at everyone else's expense. Is this the only record this guy owns? This broken record just gets uglier every time he plays it.
We are sent to the poorhouse so he can pay off his goons and cronies!
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is this thing on? tasting, tasting, 1 2 3.
Yeah, and then he'll spend $50 billion dollars on sex toy research, if you ain't working you may as well be f...ing.
'50 billion? What a pittance', said Blankfein. 'You'd have to cough up twice that for me to get off my executive recliner. 'Know what, you could set up the bank with Fuld in charge. He has a lot of experience after all'.
Just in time for the elections.
Why not make it $50 trillion? It's high time to drop the pretense that there are any limits on the government.
http://www.youtube.com/watch?v=DyHeoo2suB0&feature=related
Change you can... default on!!!
50 billion is a large, incomprehensible number to most people. This will play well with a much larger fraction of the public than you might expect.
A few months ago I was talking to someone who worked for a large corporation... they were bitching about their CEO's seven figure bonus, saying that if only the CEO went without their bonus, that the workers could all get a hefty raise.
I actually had to produce a pen, paper, and calculator to prove that it would be an extra $20 for each employee, per year. Even then I'm not sure he believed me.
For a similar experiment, ask a guy on the street how much money we'd all get (approximations are fine) if the government gave us a billion USD, split evenly.