January 05, 2008

The Bush Administration - governing over a $50 trillion deficit and hemmoraging, about to plunge the US deeper into debt with a "stimulus package"


The US dollar will be toilet paper after Bush is done with it.

We will never pay off this debt.

Any country or individual who buys US debt is a fool.

And you should all be sickened (and frightened) by the corrupt leaders in DC on both sides of the aisle.

At the very time we needed competent leadership with a firm grip on the wheel, we get The Worst President Ever - the most reckless, ignorant, corrupt, misguided and destructive president in the history of the United States.

If our wildly unpopular leaders in DC send out $500 rebate checks before the November election in a desperate attempt to keep hold of power, American should rise up, take their $500 checks for supplies, and do what the Declaration of Independence tells them to do in times like these. But of course they won't - America's Top Model is on ya know.

God help us all - and your kids' kids' kids' kids who will be suffocating under the debt run up by this selfish, greedy and disgusting generation.

Future Americans will hate us for what we've done.


Bush Administration Considering a Possible Economic Stimulus Package to Ward Off Recession

WASHINGTON (AP) -- The Bush administration, faced with a deteriorating economy and a big jump in unemployment, said Friday it was considering an economic stimulus package that might include tax cuts to ward off a recession.

Bush in his first term included a tax refund of up to $300 per person to combat the impact of the 2001 recession. Private economists said another round of tax cuts would be the best approach to get money to people who would spend it.

Some suggested a one-year tax rebate of $500 might provide a sufficient shot-in-the-arm for the economy. But they stressed that the proposal would have to be passed quickly.

"The critical time is the first part of this year. If it doesn't get passed until just before the November election, it will be totally useless," said David Wyss, chief economist at Standard & Poor's in New York.

28 comments:

decaffeinated said...

.
.
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As Dear Leader confronts $100+ oil, a crumbling dollar, rapidly rising inflation and unemployment, never forget the words of inspiration that got him out of bed every morning of his life:

I've got mine, where's yours?

Or was it:

Pickles, where's my scotch bottle?

Whatever.

Anonymous said...

It's all falling apart now

Johnny Silver Bear said...

Central banking is perhaps the most brilliant scam ever perpetrated, and the U.S. Federal Reserve stands as the most successful of all central banks in history. The Fed is able to transfer wealth away from the people who earned it, and into the hands of the Federal Government and member banks, relentlessly, stealthily, year after year, and all the while maintaining the preposterous claim of social benefit in the form of "managing the economy." The method of this theft is sophisticated and disguised enough as to escape the attention of most, and when combined with propaganda, leads most people to the conclusion that we'd be in trouble without it. Yet I wish to show here that central banking can be well understood by most people for exactly what it is: ­ the fraudulent theft of trillions of dollars via the monopolization of money."
-- Johnny Silver Bear
"The Fed", 15 Jul 2004

Ed said...

As usual the MSM get it wrong.

"Bush in his first term included a tax refund of up to $300 per person to combat the impact of the 2001 recession."

The $300 was not the same thing as the proposed $500 one-time stimulus today. Income tax rates were lowered in mid-2001 retroactive to Jan 1, 2001. The 15% bracket was lowered to 10% up to $6000. So a minimum of $300 would have been received by everyone when they did their taxes anyway. The check was a gimmick, sure but it wasn't a one shot deal like they are proposing today.

Look you know something will be done by govt. Clinton did his stimulus package in 1993 and it led to the highest tax increase ever. Greenspan lowered to 1% in 2002.

If the govt is going to do "something", I'd rather have tax cuts than tax increases or even worse reckless interest rate cuts.

I've been bearish for a long time and will turn to bullish on a dime if this thing happens. You know the Wall St herd will start buying like it's 1999 again. I don't care really. Markets up,markets down, real estate up, real estate down. As long as I'm on the right side of things, who cares?

debtisslavery.blogspot.com

Anonymous said...

Bush needs to be stopped by the people immediately. Your description of the 43rd President of the United States is perfect:

"The Worst President Ever - the most reckless, ignorant, corrupt, misguided and destructive president in the history of the United States."

Anonymous said...

Sometimes, because things are so bad, I wake up and wonder if I am already dead and just hanging around watching everything fall apart. It sure feels that way.

patriotis said...

I want my $500 dollar goburmint check NOW!!!

Malcolm said...

Using this logic, when you rescue a drowning man, the first thing you should do is offer them a glass of water.

Anonymous said...

It needs to fall apart, it is unstable and unsustainable, has been for too long.

Believe me I don't look forward to it, compared to the comments of some here I am not prepared. I own no gold, canned goods, cash, bullets, farm land, bunker, stocks, bonds, real estate, or debt.

All I have is my family, my job, and a 17 year old car.

As it falls apart all we can hope for is that the Feds pumping of worthless paper fails and deflation is allowed to happen and savings rates increase.

It is the only and quickest way to undo what will become known as the "Fed Bubble" to financial reality.

Deflation will be painful yes, particularly for business and those who desperately trying to maintain their wealth however, there is no other way to salvage this country for my kids and their kids.

W.'s Comments solidify the point that the current administration, Fed and markets have been at the wheel drunk on lies and greed for too long. The people got it the car willing and went along for the ride. Now we will all careen off the road together and slam full speed into a tree. All the occupants are going to be injured, there will be no exceptions.

Restoring the middle class and savings rate is the only thing that can save the U.S..

Unfortunately what this means is that those trying to maintain their paper wealth will be injured most fatally.

bank dick said...

Paulson and Bernanke are playing at the margins. Injecting $180 billion via these $600 handouts is just part of a bigger strategy. Their goal is to keep consumption at a level where the whole damn thing doesn't implode. We have to run faster and faster just to stay in the same place.

The real problem they face is they need to maintain or increase the rate of credit creation. M3 is actually dropping, in spite of their efforts to recapitalize the banking system. That didn't work as well as they figured so now they're tring a grass-roots approach to fill the holes. Will it work, who the hell knows?

Anonymous said...

$500 check from DC? Bring it on. I'll take that $500 and short home builders with it, turn it into $2000.

Anonymous said...

Nice doctored photo. Now show the real video of clinton doing that.

Anonymous said...

bank dick @ January 05, 2008 4:00 PM
M3 is actually dropping


even on this blog there are some seriously delusional people. m3 is far from dropping, but growing at an astonishing rate.

shadowstats.com/alternate_data

Anonymous said...

Anonymous January 05, 2008 5:03 PM said...

Nice doctored photo. Now show the real video of clinton doing that.
***********************************

Too bad it's not doctored....
http://www.snopes.com/photos/politics/binoculars.asp

Anonymous said...

Can someone please explain to me what will happen if the U.S.A. defaults on all of this money we borrowed? We can simply say to our lenders "we don't have the money to pay you back" then what happens? I mean what other countries are there for people around the world to invest in? Also, if we are in such bad financial shape, then why do people keep lending us money hand over fist?

Anonymous said...

I am almost euphoric these days...

In my heart, I know a huge and violent crash is upon us. I look forward in the aftermath to arming myself and hunting for food and water for my family.

Natural slection is a concept whose time HAS COME. Anyone with a fanny pack or a NASCAR T-shirt is going down first...

Only the strong and cunning will survive. The intelligent poodles on the couch will be murdered in front of their families and eaten.

Anyone not speaking Engish will go next, and so forth and so on.

Isn't America a wonderful place?

Magnum Force. Kill or be Killed.

Anonymous said...

I want my $500 refund....the dollar is already lost beyond repair so why not get a few tanks of gasoline from uncle Sam?

borkafatty said...

$500...bullshit I want $100,000 why not its worthless paper anyway.

bank dick said...

some anonopussy chimed in to the effect:
"even on this blog there are some seriously delusional people. m3 is far from dropping, but growing at an astonishing rate."

In the last two weeks cumulative M3 has decreased, even though the rate of growth is still 17%. I went to school in the daytime and learned a little math here and there, so that tells me there is a serious "money leak" in the banking system mostly at the institutional level. Where the money is actually going is anyone's guess. I suspect it's one of the reasons Paulson and Bernanke were briefing Bush yesterday.

John Williams' recreation of M3 (the one you cite) does not have the fine scale that shows detail like this one:

http://tinyurl.com/kh74j

Anonymous said...

DEFAULT" IMAGINE THE RAKEOFFS WITH BANKS PAYING 11 PERCENT INTERESTS ON INTERBANK LOANS AND THE DISCRIMINATION ABOUT/TO YOUR BANK DEPOSITS/LOANS GETTING 4 PERCENT...LAWSUIT BY SHAREHOLDERS? BEING RIPPED OFF,,,,

Avenger said...

The best part: chosen not once but twice..

by the ever clever American public.

Got what one deserves is what they say. Soooowww, Hillary next?

Mitesh Damania said...

People need to stop saying Bush is incompetent. He looks dumb but he isn't. Remember, he's said the war is the next president's responsibility. He's getting exactly what he wants. Where's the incompetence in that?

Princess Mononoke said...

Anonymous said...
>>>>Also, if we are in such bad financial shape, then why do people keep lending us money hand over fist?
January 05, 2008 6:14 PM

Just think... what is the best and alternative way to conquer and control another country without having to go to war?!?!? This is ingenious thinking- Flawless Victory as a china man or woman put it on one of my blog post.

As far as c.c. co's and others still loaning consumers money = USURY = debt slavery! or debt trap! It's what they show on their books that counts to shareholders, the anticipated interest from their slaves...

Princess Mononoke said...

1) When the Master governs, the people are hardly aware that he exists.
2) Next best is a leader who is loved.
3) Next, one who is feared.
4) The worst is one who is despised!

Anonymous said...

it's our money anyway. why not?

Anonymous said...

Slick willy did the same thing. Of course KWEEFER won't post that picture. Nope, Clinton is a saint in the minds of communists like KWEEFER.

Anonymous said...

>> In my heart, I know a huge and violent crash is upon us. I look forward in the aftermath to arming myself and hunting for food and water for my family.

Won't happen. A scalar weapon will be detonated in the upper atmosphere over the U.S., and we're all going to die an instantaneous death.

But as a sidenote, trying feeding your family some dog or cat and see how they like it, because being the pathetic moron that you are, your "hunting" will be restricted to your neighbor's pets.

Anonymous said...

I wpuld like to know why is a brasilion flag and not a portuguese when I see the other flags that represented the language.
May be Brasil discover Portugal and not the other way aeound. Spain for exemplo it is a country with many language and the language which we know for Spanish happen to be of one state name Castilha.
Must be because Portugal are a small country which not thau small only 20.000 Km2 bigger and holand only half the sise of Portugal
I think somethng wrong and descremination about you knowledge which may be poor
My email Antoniouoscar@gmail.com