It is an election year of course, and the GOP is getting slaughtered in the opinion polls, so I would expect this socialist masquerading as a Republican to announce at least $500 per person of "stimulus cash"
And that'd be $500 more than any US president should EVER propose. A country $52 trillion in debt should not be sending out "free money". And anyone who loans money to such a reckless country, or holds their currency, is a fool.
Screw George Bush. Screw Hillary Clinton. Screw Nancy Pelosi and Harry Reid. Screw Ben Bernanke. What they're doing is shameful, it's unethical, it's immoral, it's reckless and it's the worst pandering I've ever seen desperate incumbents ever do.
I hope a few of the candidates running for president have the courage to speak out and speak out forcefully against this parachute drop.
But I'm not counting on it. Since that would be the right thing to do.
January 18, 2008
Get your guesses in here - how much housing crash "free money" will the wildly unpopular George Bush drop from the sky today?
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Gimme $500. That is a 1/2 oz of FREE gold!!!!!!! HAHAHA suckers!
We give tens of thousands to welfare leeches and deadbeats every freakin year. We give millions to corporate fatcats. We give billions in foreign aid. If the system is going to collapse anyways, why shouldn't the taxpayers get something before it all goes under? I can get a nice Bersa .380 auto and a few hundred rounds of ammo.
$1000 dollares for everyone in my big familia.
Viva Jorge Bush el Presidente Magnifico!
Viva Jorge Bush un real Hombre con grande cojones.
Dame el dinero ahora!
I want my govermento check NOW!!!
Gringos, is this great country or what?
Viva los Estados Unidos y los Anglos maricones.
Muchas Gracias, suckaristas!
http://tinyurl.com/yjqm7p
From the Washington Post on our REAL deficit, not the fake one the politicians want you to believe:
The largest employer in the world announced on Dec. 15 that it lost about $450 billion in fiscal 2006. Its auditor found that its financial statements were unreliable and that its controls were inadequate for the 10th straight year. On top of that, the entity's total liabilities and unfunded commitments rose to about $50 trillion, up from $20 trillion in just six years.
If this announcement related to a private company, the news would have been on the front page of major newspapers. Unfortunately, such was not the case -- even though the entity is the U.S. government.
To put the figures in perspective, $50 trillion is $440,000 per American household and is more than nine times as much as the median household income.
Wow! Free money! Cool! I think I'll invest some of it in lottery tickets and Beanie Babies, but I admit I'll probably end up just wasting the rest.
EVERY SINGLE AMERICAN FAMILY should take that 500$ and buy silver with it.
Hell, we are already broke. I would be happy if they didn't do it. If they had the guts not to do it.
But this is a baby boomer president, a baby boomer congress and baby boomer Fed chief. What did you think they would do.
Whatever feels good. That's all that matters.
Dear George,
A $800 one time tax break = what ...15 tanks of gas? Big figgin deal. Georgie....What we really want is not to be over taxed to begin with. If you want to even try and save some face with the average American Joe...Call for and pass the abolishment of the IRS...install a flat tax system that gets them all...legal or illegal and do it without starting another usless war. Once you have that down we will talk about converting NASA into a renewable energy think-tank. Its not hard to see what the Country needs George...you just got to look.
IF the United States had a post inflationary plan for eternal balanced budgets, we could merrily default on our debt a la Argentina.
But we don't.
Forget outsourcing of manufacturing jobs, insourcing of technology wunderkinds from India and China, forget all of that...
In the next 15 to 30 years all unskilled and most semi-skilled human labor will be replaced by robots. Our current social contract of "money for work"
In that scenario we will need a more massive welfare state than ever or we will be facing mega-flash-mobs of the underemployed with no economic status.
Machinery and electricity did the same thing to the agricultural laborer; thank God FDR created the welfare state or we would have been just another Fascist/Communist hell hole.
Even in the so called free market boom in 19th Century America, we grew mostly due to giving away stolen land to immigrants (agrarian socialism), and we grew by playing China to Europe's America.
We need to confront the fact that technology is not producing sufficiently increased supply to overturning increased global demand.
We need sustainability and stability more than growth at this stage of the game; too much instability will usher in global fascism/communism and it will be 1,000 years before freedom can be reborn.
they're talking $800 per tax filer or $1600 per household and some kind of bonus depreciation for business----it wont matter.
$800 dollars is less than 10% of the taxes that the average person paid in 2007.
$300 or $800 who cares. It's only like 5% refund and won't have much of an impact either beneficially or detrimentally.
This is the death throes of an empire, we are looking at a long decscent into oblivion.
Hopefully some minimum wage worker will spit on your fish and chips. The capitalist system should only work for day traders like Keith folks, because he is better than them. Give me a break, the sheep need the money, they aren't the ones destroying the economy, you are.
"A country $52 trillion in debt should not be sending out 'free money'."
why not say it's "$52 trillion in economic stimulus?" and "it will make workers rich!"
private and public pensions, the retirement of educated workers and trillion dollar hedge funds will be much bigger problems-- my opinion, and a "big, broad stimulus package" is needed to keep things running smoothly, haha!
Yeah, ammo is getting pricey, and this will buy a couple hundred rounds and some shot gun shells.
After spending the entire week in Saudi Arabia, selling America cheap to the stinky Arabs, now your cowboy hero from Connecticut, which you geniuses voted for TWICE, is going to borrow 1% of GDP from the stinky Chinese to give a check to morons who don't even know how to vote, like you.
Stimulus package in a nutshell:
The insolvent US borrows money from its master, the Chinese, to cut a check to the sheep, so they can buy more Chinese crap and pay more interest to the Chinese down the line. Stimulus to China and evil Wal-Mart!
Meanwhile, the Arabs are killing you at the gas pump and soon on bank fees, since the crooks on Wall Street sold your American banks to them. Just to refresh your memory: 47% of the 9-11 hijackers were "supposedly" from Saudi Arabia.
Spin that hamster wheel faster, Republican slaves, because the GOP and the crooks on Wall Street are not done with your wallet yet. Geniuses!
Welfare queens get thousands every month. So Bush wants to give me a $1K, let him. I pay and pay and pay into the system and get jack shit out of it. I want mine for once.
"they're talking $800 per tax filer or $1600 per household and some kind of bonus depreciation for business----it wont matter."
Read the fine print. If you make over $85K (single) or $110K (married) you get nothing. Unless all of you were lying on those "how much do you make" HP surveys, you aren't getting anything.
Keith,
I agree. No to Tax Deferments! It is time to head towards a balanced budget.
Keep voting democrat everyone!!
Let's call it the Stimulus Package To Chinese: Borrow money from China to cut checks, so the retards can buy more crap from China. Then later on we all pay the interest to the Chinese for all those checks. Sweeeet!
This Paulson sounds and acts like a senile.
"$800 dollars is less than 10% of the taxes that the average person paid in 2007."
Based on the above, them, the problem as I see it is that the average person is not paying enough.
And, what is the point- the only thing that is going to happen is that China is going to get a whole bunch more dollars as a result.
They should call this the China and Saudi Arabia stimulus package since thats where all the cash will be going via either the gas tank or more cheap plastic crap.
1% of GDP to be paid out = 1% inflation
RESULT = $0
You're really getting nothing.
What about not taking the money in the first place!
Here's an idea George Bush, let's take money from the rich and give it to the poor. Good old fashioned wealth distribution, you're a socialist, right? Apparently you are, because that's what you are doing when you have a $1600 giveaway to people only under a certain income level.
What a disaster!
The $800 individual or $1,600 household payment might pay one month's worth of home payments or rent, depending on the mortgage on the house or size of apartment. So laughably silly to border on insanity.
And don't forget, our tax dollars (over 12bil/month) are going towards a needless war to support only the arses of the top wealthy here who have their money tied up with oil interests, and other foreign investments which do nothing but make matters worse for the people living within our boarders.
$500 free money - what a joke.
Might as well make it $5000, it still won't be of any help to those neck-deep in debt.
Smells like me a desparate attempt to distract the masses from revolution. It's like a robber who brings a juicy steak to keep the hounds at bay. I think the American people are a bit hungrier than $500...we're still gonna CHOMP DAT ASS!!!
"$300 or $800 who cares. It's only like 5% refund and won't have much of an impact either beneficially or detrimentally."
I'll be happy to take $800! I'll just keep feeding my appetite for CD's. For my 90 year old grandmother, who worries about outliving her money, $800 means a lot.
It was until people like you abused our system by not putting any of your own money back into our system.
Instead, you send it back home across the boarder, so you can live like a big Ranchero and exploit the poor mexican workers there.
I want my govermento check NOW!!!
Gringos, is this great country or what?
The great depression started in 1929 and was at it worst in 1933.
The average American including MSM didn't realize we were in a depression or even a bad recession until late 1933. It took over 4 years into the worst economic time in our history for anybody living through it to recognize. The depression lasted another 8 years after people finally got the message (1941)
How is $800 or $1600 going to help people witht their $400K + mortgages? People need to get their heads around the real issue -- PRICE of homes. The market didn't work in this case. The "value" in real estate transactions the last few years was in the loan itself (for the potential 15% returns to Wall Street). Not the homes. Homes were just the carrot to get people to sign the loan. No amount of handouts will fix this. We can all run to Best Buy with cash that should be going toward valid governmental functions and people will still be stuck in loans they can't pay off, and homes will be artificially priced with "liquid crack MBS" prices.
$500 to me the joke is on him I am not going to spend it just to piss him off.
Burn Babay Burn
In fact my lazy, dope smokin, slacker, debt whoring, cousins will be getting $800 each to go get some pot, a tattoo or a Sony Play station while I actually pay taxes...
Hmm...come to think of it...we must have it all wrong...why work when you can get it for nothing.
Obanga sucks too ... he is a left leaning socialist just the same as Hillary and with the same opinions and views.
I think McCain has it right. He said he is ok with the stimulus package but the real problem is gov spending and should be addressed as part of the package.
100B stimulus won't make a big difference, either to the deficit or to people's bottom lines. It is "feel good" legislation. What needs to be addressed is the spending and liabilities.
This has been done before, in 1991by Bush Sr, if memory serves. The amount then was $300, which, indexed for inflation, is $600 or so now.
If it's $800 that Halliburton won't get as a result, great. In the long run, we're all dead.
$800 buys 2 hours with a high quality hooker. I'll take it.
As I would expect from any Bush plan, not one word about fixing anything that got us into this mess in the first place. No explaination of where the money comes from. No mention of responsability on anybodys part for getting us into this mess. Just a simple minded, uninspired band aid solution to a mortal wound.
Remember, this isn't the government giving us money...it is the government just not taking quite as much money from us. They are just giving you back what was yours.
Oh, wait a sec...due to my income it looks like I won't be getting anything back. As a matter of fact, it is starting to look a whole lot like I am giving $800 to some schlub just because they make less money than I do. Do you think I could at least get that person to come over to the house and help me move some furniture or clean out the garage?
Whaddya mean?
We should all love Hillary. She is proposing "aggressive action". Bush already said $800 ea. How about Hillary pushing $1000 ea?
That's my guess, $1000 ea.
Oh and Dems want more food stamps too.......
PARTAY!
Now I can buy that Wii, and take a trip to Vegas!
Won't this $500 per person make inflation even worse? I mean, why not give everyone $1,000? $10,000? $1,000,000?
Seriously, if EVERYONE suddenly gets more money (adding to the money supply) without an increase in production, doesn't that simply make everything cost more in order to compensate? Remember, it's impossible to get something for nothing.
"install a flat tax system that gets them all...legal or illegal and do it without starting another usless war."
the problem with the "flat tax" is that you still have to calculate your income and that's not easy when you have inheritance, stocks, interest, capitol gains, etc... and, to make the tax "fair," the government someone has to track all off this! corporations, for example, would still off shore and "highly paid executives" would still demand a lot of "deferred income."
in general, the folks you call "illegal" add more taxes to society than you'd imagine since they work for low wages and the labor arbitrage is taxed (as profit) and goes into the community pot.
usually, those who complain about "illegals" simply want to see the poor work for a pitance and ask for nothing in return for their efforts.
Maybe 800 is not a lot to you guys but that will pay off my Master Card Bill.
Daddy Like.
how can a payment to each taxpayer in this country of $600.00, stimulate this economy? this is insanity. for all those who think we are not in recession, you have to ask yourself why, would the government do such a thing. surely we are in a big mess and some people know exactly what is in store for us but the word has not gone out to everyone yet, but it will. john q public is going to find out what is going on soon enough, one way or the other.
Free money ...who cares?
Best get some food:
"This thing has immense potential for social and human destruction." Startling words - but spoken by the father of the Green Revolution, Nobel laureate Norman Borlaug, they are not easily dismissed.
An infection is coming, and almost no one has heard about it. This infection isn't going to give you flu, or TB. In fact, it isn't interested in you at all. It is after the wheat plants that feed more people than any other single food source on the planet. And because of cutbacks in international research, we aren't prepared. The famines that were banished by the advent of disease-resistant crops in the Green Revolution of the 1960s could return, Borlaug told New Scientist.
The disease is Ug99, a virulent strain of black stem rust fungus (Puccinia graminis), discovered in Uganda in 1999. Since the Green Revolution, farmers everywhere have grown wheat varieties that resist stem rust, but Ug99 has evolved to take advantage of those varieties, and almost no wheat crops anywhere are resistant to it. "
Enjoy the die off!!!
The money would be better spend cleaning up the housing mess. As far as giving me money? Uncle Sam takes over $50,000 a year from my family. I hardly think the amount he wants to give back will mean much. Dinner? Don't give me money. Reduce my taxes...especially on property. I'm tired of leasing my land forever since you never own it with property taxes.
And despite all, no mention of how they are inflating our way out of the bubble? Adjusted for inflation, currency devaluation, home prices have fallen significantly. As far as losses to big companies? Don't believe it. I think they are inflated...not that many house have gone under to account for the losses they talk about and a lot are just on paper. Oh, sorry you expected 13% interest on that investment so on paper you lost a million...If congress really wants an impact, reign in the whore mongering bankers, investors, and criminal usery. On this point Islam has the edge...credit cards should't charge 18% or home/car loans, 12%-especially for the poor. Maybe index for inflation, a small profit...so prime plus 2% plus no more than 3% for inflation? Then banks/investors would have to ensure the viability of the borrower before lending as they won't cover their bad bets on the backs of those who pay.
No one ever mentions inflation and why owning might be good? The cost of inflation does get passed on to us via higher prices, costs. And no one in two years ever wants to address what a fair price for a home would be. You try to get imput on the real cost of building and the only thing people want is to say give me the house for free. Builders here in Arizona are now at cost or below...and below only until inventory is absorbed. No business can stay afloat if they can't make a small profit.
So what should a house cost? And before Keith moved to England he never really appreciated the high cost of living in Europe..even if paid in Euros. Wait til their house bubble pops....the dollar will rebound and so will the economy here.
Keith
Man your blog is my crack/weed/meth/coke/kool-aid/and all of the other shit out there to get high on to make it through the day. It is always entertaining and thought provoking (both posts and comments). Be cool man.
Avid Reader
Just give up. Turn off the computers and live in bliss. If your not born rich you never will be. You will just work the rest of your life and give everything to El Presidente (whatever party he/she is).
It sucks they are stealing from us to give to the poor. Why dont they drop a billion on me? I will make the angry monkey stimulus package a reality! I will buy houses cars and everything I can get my grubby paws on.
I dont take anything from the Gov. I pay my gas taxes for my road travels. I pay all my utlities. I pay my student loans. I ask for nothing but a chance to make a better life without having to pay for all these slackers who are buying over priced houses and 100 inch tvs.
Keep the $500 and rot in hell.
I mean like this is just SO AWESOME like when my friend Bunny called and told me Bush is going to send everyone a check and so Ive been going to the mailbox like every few minutes and like this is just SO AWESOME I cant believe it.
Umm, I'd like a circus a to come to town and pass out the checks if you don't mind. I really like it when the bear walks on a ball. Man, those bears sure are smart.
continued devaluing of the currency. CHECK
Nepotism rules government. CHECK
Unreliable accounting and enforcement. CHECK
Government run for the purpose of the wealthy. CHECK
Foreign wars fought by mercenaries. CHECK
Bread and Circuses. CHECK
I sure hope the militant islamists didn't read a book on the fall of the Roman Empire and I hope the Chinese stick to the Art of War so we can keep the system in place.
I think that as the Roman Empire was dying, the powers did the same thing.
They paid for (or confiscated) "free government bread", and heralded it it populist and demagogic ways in politically important districts.
Then they entranced people to ignore the decline in fundamental productive capacity, strategic sense and competent incorrupted ethcial government services, using spectacles of gladiatorial games.
W and Cueball encourage you to be a good citizen, bask in the glory of your munificent President, and spend your check heartily on Super Bowl weekend! We do not yet know the victor in that arena, but we do know that when you spend, America wins!
SPQR/FUBAR
In the next 15 to 30 years all unskilled and most semi-skilled human labor will be replaced by robots. Our current social contract of "money for work"
No it won't.
Robots are expensive and require a high-technology manufacturing base.
As the dollar goes, all the Asian productive capacity will be ever more expensive.
Cheap, sullen bodies, ambitions crushed by brutal capitalist/fascist overlords are much cheaper.
Who uses robots in Bangladesh?
If you have an ox or a horse, you are rich.
Oppression is much more cost-effective than technology.
With Peak Oil and technological decline, it's skilled and semi-skilled machinery which will be replaced by impoverished hand labor.
ambac downgraded.
Less than 1/2 one month mortgage payment
Or, less than 1/5 what has already been taken out of the US economy because of "subprime losses"
Here are some alternate economic stimulus ideas:
1) Socialized medicine - make healthcare cheaper for all consumers
2) Stimulate investment in renewable energy, that 150B could generate roughly 5% of US energy needs if it was spent directly on solar panels (check out companies like Nanosolar); factor in additional private funding and economies of scale and you could make serious dents in what consumers spend on energy
3) Pass legislation to oversee lending practices
4) Downsize Iraq war
Then again why would you want to permanetly fix a problem when you could continue to flush more money down the toilet. This is like subsidizing the existing mortgage mess...
They laughed in 1972 when George McGovern made a similar proposal. He lost 49 states to Nixon even AFTER Watergate. Just hard to imagine how far we have slipped since then.
"Unless all of you were lying on those 'how much do you make' HP surveys, you aren't getting anything."
are those numbers before or after the standard deduction taxes and 401k contributions?
On the radio this morning they were saying $800 for singles, and $1600 for couples. The brown stuff must really be hitting the fan somewhere.
Sweeeet! I'm gonna spend it all in weed.
Why bother wasting money on the printing and postage for all these checks and just let Dave Chappelle spend the money on a wild $150 billion shopping spree? It would be like a remake of "Brewster's Millions". If he doesn't spend all the money in a one week period on goods made in the USA then he has to give it all back.
It should have the same effect on stimulating the economy right?
I'M RIIICH BIIITCH!!!
Anonymous said...
The great depression started in 1929 and was at it worst in 1933.
The average American including MSM didn't realize we were in a depression or even a bad recession until late 1933.
---
Is this what they teach in schools these days? Doofus, FDR was elected in 1932. His whole campaign was based on getting out of the recession/depression. People noticed.
Blogger Chris said...
Maybe 800 is not a lot to you guys but that will pay off my Master Card Bill.
Daddy Like.
January 18, 2008 7:11 <<<
hey if they give me 800, I am going to take it too. its only paper and its only a game so what difference does it really make?
The Americano is as toasted as a snapper turtle skewered on a stick from head to ass all sizzling, juices dripping, fat popping over a bed of white hot charcoal grill.
Americano = Grilled Snapper Turtle
Heeeee... Haaaaa... Arrrrr...
The mentality of the average Americano is just amazing, if not stupefying.
A Circuit City Sale Associate is able to buy a house.
A Shoe Sale Man is driving an Audi.
An uneducated, illiterate, ignorant Ford factory auto-assembly worker makes $40/hour.
The Iraqi has Weapon Of Mass Destruction.
Talk about brain-dead zombie, blind-as-a-bat crapper. Maybe that is the reason why there is such word as "Trailer White Trash"... And guess what, this stupid-ass nation is full of these TRASHES !!!
i think the fine print on the check says: this check only to be used for goods displaying "Made in China"
in general, the folks you call "illegal" add more taxes to society than you'd imagine since they work for low wages and the labor arbitrage is taxed (as profit) and goes into the community pot.
usually, those who complain about "illegals" simply want to see the poor work for a pitance and ask for nothing in return for their efforts.
Wrong. The majority of illegals work for cash and send 80% of their earnings back to their country of origin. As such, they don't help to pay for the expensive infrastructure (more roads, power, water, sewage, etc) needed to support this out of control immigration. Plus, that wired money doesn't go back into our local economy. Also, illegals breed like flies, putting pressure on our overextended social services and health care system.
Illegals depress wages of minorities, create inflation in housing, increase our property taxes to pay for all the social services and infrastructure they suck, increase crime rates and costs of law enforcement, and the list goes on and on.
Illegal immigration is destroying this country, including our limited natural resources (i.e., water).
Bitter Renter must be in heaven. He loves a government handout.
Man your blog is my crack/weed/meth/coke/kool-aid/and all of the other shit out there to get high on to make it through the day. It is always entertaining and thought provoking (both posts and comments). Be cool man.
So go get us a twelve pack of chilled Bohemia beer, boy. It's our initiation ritual here at the HP for those who just popped the cherry.
Not enough to make any difference.
Guns and Ammo
OR
Coke and Hookers?
Long-term security vs. instant gratification.
I think I’ll split the difference and go for guns, charge the ammo, two bottles of Boon’s Farm, and a night home with the wife.
Oh, I think I earn too much to be that stimulated -- rats!
I would rather they mail me gold from Fort Knox then their toilet paper currency.
The Battle of Sprawlingrad is raging!
I warned you months ago that you were surrounded and that your leaders have abadoned you. They said that they will try everything in there power to rescue you. While the only ones they have/are going to rescue are the treasonous, sabateurs and thiefs. They pretend that this rescue package is all you need to make it through the winter, while in fact, all it is going to do is fatten you up more for the vultures that are circling. It does not free you from the Kessel.
I seem to remember getting a $400 check in the mail several years ago - wasn't that also Bush in his first term? I don't actually remember what it was supposed to be for. Maybe some people will run out and spend - but in the end - we still have to file taxes in April and $500, $1,000. It's not going to do much for most people. Half of the people at work owe more than that on their credit cards.
It seems that RED STATE Nevada will need the Bush welfare checks:
BusinessWeek - Nevada's unemployment rate rose for the ninth month in a row, hitting 5.8 percent in December as the state's housing slump continued, according to a report released Friday.
On the other hand, Las Vegas ho's must be much cheaper now, especially with all those realtwhores out of work. Time for a weekend getaway, boys.
The market didn't work in this case.
The market is working perfectly. Prices got too high and now they're coming back down. Nobody ever guaranteed that the market moved slowly and steadily. The market will always revert to the mean.
in general, the folks you call "illegal" add more taxes to society than you'd imagine since they work for low wages and the labor arbitrage is taxed (as profit) and goes into the community pot.
usually, those who complain about "illegals" simply want to see the poor work for a pitance and ask for nothing in return for their efforts.
You mean illegal slave labor that is unable to complain about illegal wages and illegal working conditions is a good thing. How humanitarian of you. After all, you couldn't afford to pay a legal person an extra $10 to mow your lawn or wipe your fat ass.
Don't forget to mention the 5 children the illegals have while working for $10/hr. Do you really think they are able to support a family on $10/hr and send money back to Mexico? Now real taxpayers get to pay for the healthcare and education of those 5 children.
It seems that RED STATE Nevada will need the Bush welfare checks:
Isn't that Harry Reid's state?
Who the hell knows how much money but who the hell cares? It won't do anything. George Dubya does look really old, sick and pathetic, doesn't he? Maybe his conscience is getting the best of him. And then did you see Cheney in the background? Wow, miserable & bitter old man. He lost his soul a long time ago and his twisted, miserable face shows that. Paulson just looks freakish in the background, almost like a serial killer kind of freaky...bugging out eyes. Maybe that's the coke he's snorting. Go "ownership" society! rah! rah! rah! All I know is the supposedly fiscally conservative/responsible "Republicans" got us back into enormous, infinite debt after having a surplus by the end of Clinton's term...the American people followed suit with a Debt nation and living way over one's means to strut in front of others in that smug, arrogant way. Just like Georgey Dubya who struts but would run like a littel girl if he actually had to fight. Fools.
One problem with the "free market" is that starving people don't follow laws. Thus you'd better have a plan for dealing with them; either murder, enslavement, imprisonment, exile, or (God forbid!), the welfare state.
You can't spend each and every day talking about how stupid people are and then in the next breath say, "let's give these people freedom!"
Free stupid people are a menace.
What we need is for a new elite that can and will actually govern well.
Free money, but only for those who make below $85k/yr?
Gee, I'm so glad I quit trying to swim upstream, as I only work 3 days a week part-time nowadays, but the good news is I'm below the cut-off for the hand-out!
Hey, the Bushies have mastered the art of economic disincentives, and here's the latest example.
What a GREAT message to send to people: why work when you can get something for nothing? Free government cheese, indeed.
Heck, most houses earned more EZ-money fake equity during the credit boom, just by sitting there; the house earned more fake equity than most people's regular job ever did! So why should I go to work?
It seems that RED STATE Nevada will need the Bush welfare checks:
---
How about BLUE STATE Michigan where they've been in a depression since 1981?
And although Nevafa is RED STATE, Las Vegas is as blue as it gets. And gee hmmm where was the biggest housing bubble...oh I know, in BLUE LAS VEGAS.
And where is Harry Reid from again? Oh yeah Nevada.
Congrats. You are the winner of he BIGGEST DOUCHEBAG OF THE WEEK award.
Moron.
Please explain to me why gold and silver did not take off after this was announced. Policy of truth?
Just leave my check on the dresser, Mr. Preznit.
Ha, just last night I spent like 400$ for some weed, blow, a couple of bottles of vodka and 2 lap dances. Didn't even get no p****y. Well, I actually did before that with my girl but still...
Point is 800 is nothing... sheesh, even for a welfare person it is barely a month of welfare for even a single child.
I love how they call this an "economic stimulus" package, the implication being that Americans HAVE money, but they just need a little "push" to get them back into the habit of spending money...
I guess these dolts in government don't really understand that the current problem is not that citizens HAVE money and AREN'T spending it out of fear of a recession, but simply that they DON'T have money and have tapped their credit to it's limit!
Maybe I can say this in big words so Bernanke can understand:
The American consumer is not facing a crisis of confidence in our banking system, i.e. a lack of confidence which is not warranted, as there's sound fundamentals underneath the system.
No, we're facing a crisis of confidence that truly IS warranted, as let's face it: our economy IS broke! We KNOW Bush et al have blown the economy out of the water with deficit spending and exporting jobs to China, etc, and worse yet: alot of our trading partners know it! Now people want to continue to throw good money after bad (Hillary and universal health care?), as that's what gets the voters to come out.
Peter Schiff has suggested that Helicopter Ben should use plastic debit cards to hand out the funds to people. This is the electronic era's answer to dropping money from the sky, as it could be done in a more-controlled manner.
Heck, the military hands out government-labelled debit cards to military members on official duty (e.g. TDY) that can ONLY be used to spend at authorized locations during limited time periods. The same idea could be used to allow people to spend at Best Buy, etc , as a quasi-gift card from the government. It's the fastest way to get $$$ into people's mittens. Waiting for a tax-break is too slow, as recession is here (whether it's admitted or not).
This is how the military controls government spending for small-item unanticipated (yet official) purchases, thus preventing the soldiers from buying rounds of drinks at bars, etc.
You guys have failed to notice that $800 can buy a lot of ramen packets. This will help out many "homeowners".
"Hopefully some minimum wage worker will spit on your fish and chips. The capitalist system should only work for day traders like Keith folks, because he is better than them. Give me a break, the sheep need the money, they aren't the ones destroying the economy, you are."
January 18, 2008 5:01 PM
Keith, we've got your back.
Edgar, I know you're hurting from the financial stocks you bought which you said couldn't go down. But please, don't blame and malign others for your own financial mistakes.
People spent more than they had. Banks loaned them more than they had. They destroyed the economy in the process. We are dealing with the repercussions.
This is like giving a nickle bag to a junkie. Not enough to get high, but it will make him feel better for an hour or two. Then, it's back to pain and looking for the next fix...
Wrong. The majority of illegals work for cash and send 80% of their earnings back to their country of origin.
Not any more they don't...
Moneygram International Inc, MGI down from $30.93 to 3.68
Business seems to be off slightly :)
Sweeeet! I'm gonna spend it all in weed.
Use the money to buy a nice hydro outfit... You know, give a man a fish/ teach a man to fish...
Will someone pleez explain why cash is King?
My 400k house is paid for, I have 400k in MMA @ 6% liquid, 40k in IRA mutual funds, 2 private loans that pay 8%, food stored for 2 weeks of power outage, 50 gals of gas stored, 2 pistols and 2 rifles with 2k rounds stashed away. Is my debit card to pay for goods going to stop working? Shall I put a few months living expenses in actual currency in a private safe?
Oh by the by, I am a 20 year veteran RE person retiring. I didn't spend it all or buy into the investment RE idea. I never hyped our market which went up 200% in 10 years. My fellow REtors are 80% over extended and bought rentals and built specs. Poor bastards can't make any $'s now to pay for it. Our market is lagging the national trend in the prices going down, but sales are off 70% YOY 2006.
I love this blog even is it slams a profession I partake in. I generally don't care for REtors either. However , I/we didn't plant greed in the human heart.
So about the cash..anyone care to respond?
Luckily on my stated income 2006 loan from countrywide for my $850,000 nodown house I could say I made $250,000 a year without actually showing my Irs tax form of making $18,000 income from Wal-mart so I can still get George Bush's check.
Well, sounds like Romney is topping them all with a 250Billion package:
Romney plans to propose permanently reducing the rate for the lowest income tax bracket to 7.5 percent from 10 percent, retroactive to 2007, eliminating Social Security payroll taxes for workers over 65 and eliminating capital gains and dividend taxes on households earning under $200,000 a year,
unfortunately, i make too much to even qualify under mit's plan.
hey, did you guys see american idol the other night?!
That $800 can buy 2400 packs of Ramen if you get them on sale. That can keep alot of FB's going for three years. It looks like no die-off for Richard.
Folks, I know we've had fun watching the housing panic ensue..and this website has been GREAT. But let's get a dose of reality here. America may be royally fucked. This is not who we Americans are. We shouldn't take pride in watching our country go down the toilet. I think the time has come to stop gloating about how right all HPers were about the housing and credit markets. Its time to take back the country and restore its greatness. Wrest it away from socialist liberals and hawkish republicans. Bring back the values that made us great- a nation that saved, prepared for a rainy day, and wisely invested into production, not consumption.
I know I can't be the only one on here who does not want to see our parent's generation become impoverished, our children's generation resent the US, and our generation to squander it away. As stupid as we were to get into this mess, we are the only people in the world who are capable of figuring our way out. Its time to refocus, Keith. No more HousingPanic...its time to become RestoringGreatness.
Do the math.
Payload of B-52 / weight of a Benjamin X total sorties flown during Rolling Thumder.
That's how much $$$ B-52 Ben plans to carpetbomb.
"Wrong. The majority of illegals work for cash and send 80% of their earnings back to their country of origin. As such, they don't help to pay for the expensive infrastructure."
what I said was, the business owner pays $5 an hour for "immigrant labor" and makes $150 an hour if profit; the difference, $145, is taxed (when the business owner files) and goes towards community infrastructure. Additionally, the IRS only has one tax return to process.
"Plus, that wired money doesn't go back into our local economy."
Also, illegals breed like flies, putting pressure on our overextended social services and health care system.
the question is, is it cheaper to pay cheaper wages and "hand out services" or to pay a "living wage?" I'd bet it's better to pay $15,000 and subsidize the services rather than pay $50,0000 and partially subsidize the services.
and the list goes on and on.
it sounds to me like each immigrant creates a boatload of jobs for Americans to do! Cool!
it sounds to me like each immigrant creates a boatload of jobs for Americans to do! Cool!
It sounds to me that you like to subsidize illegals. You're like condo owners who buy buildings with pools but never use it, subsidizing the others who do.
How can any state come up with a budget if nobody knows how many thousands of illegals will invade the place?
You end up picking up the tab through ever increasing property taxes, tolls, speed cameras, fees, taxes, etc, while the illegals depress wages of every minority (i.e., African American workers born in the US). Simple law of supply and demand...and exponential growth.
The only things that illegals help to create are chaos, debt, pollution, crime, and bubbles.
But let's get a dose of reality here. America may be royally fucked. This is not who we Americans are. We shouldn't take pride in watching our country go down the toilet.
Speak for yourself, buddy. I want every single realtwhore, flipper, lobbyist, crook banker, corrupt politician, and selfish Baby Boomers to bleed in the streets. No more Mr. Nice Guy. Go wave your Made in China flag somewhere else and good luck with your sissy speech.
mhrist: "Point is 800 is nothing... sheesh, even for a welfare person it is barely a month of welfare for even a single child."
Where is welfare that high? In my state it's less than $200/mo. for 2 people.
@anonymous @ 9:16 PM
Thas right, biiitch! You're rich!
"slap" But you didn't spend it all by the time allotted because Brewster's accountant screwed you!
Too bad the government didn't spend that $800/ person to fund public elections to eliminate the influence of money & corporations on elections.
Thus eliminating the industrial/ military complex's influence, the REIC's influence, the AMA's influence, the insurance government's influence, the pharmaceutical companies' influence, etc, etc....
Seriously - publicly funded elections. If you remember anything besides the fact that American Idol started this week, please remember that publicly funded elections alone have the promise to eliminate the vast majority of our problems.
Including the Fed, the TriLateral Commission, and rendition.
Whatever happened to "Not in My Country?"
V
"what I said was, the business owner pays $5 an hour for "immigrant labor" and makes $150 an hour if profit; the difference, $145, is taxed (when the business owner files) and goes towards"
Put down the crack pipe and walk away slowly. You must be on crack if you think that $145 is declared as income.
Too bad the government didn't spend that $800/ person to fund public elections to eliminate the influence of money & corporations on elections.
How many parties and people would be allowed to participate? Would it only go to the two corrupt parties? We all know that's exactly what will happen. They won't let anyone else invade their turf. Besides, why should any tax dollars be taken from workers and given to sleazy politicians?
Well, sounds like Romney is topping them all with a 250Billion package:
I don't consider tax cuts to be welfare. Just because someone is not taking your money away by force does not mean that they are giving you something. If a mugger misses the $200 you had in your pocket, did he just donate $200 to you? The government is mugging us to fund many programs that do not help us at all. Our needs as a nation should be very simple. Travel and commerce should be federal because it crosses state lines. We should have a small defensive military. We should have a court system and regulators for interstate businesses. Instead, look at the octopus we have.
Now those tax cuts need to be paired with spending cuts in defense, foreign aids and trimming the fat on pork barrel and other wasteful programs.
How about oil at 10 cents a gallon and gas at 1 cent a gallon since we have troops over there and have conquered the Middle East. LOL.
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