Obama's $825 Billion Stimulus

[Miroslav]

Re: Obama's $825 Billion Stimulus

well I wish you guys the best of luck since it has never happened in the past.

What exactly hasn't happened in the past?

Look, I agree with you that these are highly risky actions. And I sure don't like the fact that the government has to potentially take these actions into markets...and I know there are real risks with increasing the deficit. I wish we didn't have to be dealing with any of this. But have to deal with it. Shit has hit the fan and stakes is high, son! I'm afraid we don't have much of a choice but to knuckle down and take some sort of a bet to stabilize the economy if we don't want things to get drastically worse... But the key is, if we're going to mortgage our future, we have to be making damn good bets. And that's of course easier said than done...I will agree that they have done a C- to D so far with the bailout money. It is a hell of a crap situation...I dunno, wish I had the answers.

[tiddles]

Re: Obama's $825 Billion Stimulus

I don't understand. can someone explain really simply where this money comes from? is like foreign loans or something or does the gov't just pull money out of nowhere?

[runningman]

Re: Obama's $825 Billion Stimulus

Basically Tiddles your government is borrowing money from China, Japan..etc. to even get money to print in the treasury. What guys like Miro on here believe is that you can get a loan to pay off a loan. Which we all know is impossible. Picture it like this, you are $100,000 in debt and you go to the bank and get a $10,000 loan to pay off your $100,000 debt. Mathematically that is impossible right?

Well Obama now has decided for you that you are going to take that $10,000 loan and do home renovations (Government Infrastructure) even though you don't have a job to pay off any of the loans. You see the government can't stimulate an economy it can shock it but it can't raise Frankenstein back from the dead. It has never happened in history (Rome). But some people believe that this is a good idea.

Also Miro you talk about doing this radical and different. Different and radical would be to let things fail since the trend is to bail everyone out.

[Miroslav]

Re: Obama's $825 Billion Stimulus

^^ I admit it's a real risk and an unpleasant situation to further increase the national debt in the near term. I just don't know what's worse:

spend something to stabilize the economic disaster

or

save the cash and just let things play out


there are some formidable risks to both approaches.

[MJDub]

Re: Obama's $825 Billion Stimulus

save the cash and just let things play out

The last great depression happened before the advent of nuclear weapons. Keep that in mind. These bailouts could inadvertently be preventing a nuclear holocaust by not letting the fabric of society completely shred.

[jeffrey collins]

Re: Obama's $825 Billion Stimulus

if it's over $500, I promise to spend it on actual things. like a nice new subwoofer and some art materials.

[Nigel Harkness]

Re: Obama's $825 Billion Stimulus

I'm soooo glad we have CHANGE with Obama....

There is so much BS in this "Stimulus Package" that should not be there but should instead be in its own bill instead of used as a bargaining chip by the Dems.

[runningman]

Re: Obama's $825 Billion Stimulus

Obamas message of fear. He is starting to sound more and more like Bush. Bush wanted to take your freedom away and Obama wants your money.

"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,"

Ya so adding $1 trillion in debt will surely fix it..lol.. 5 million jobs if your lucky more like 30 million.

http://news.yahoo.com/s/ap/20090205/ap_on_go_pr_wh/congress_stimulus_126

Glenn Beck is hilarious in this one. I hate GB but in this case he is right about Obama. Maybe a little over the top but Obama is def. a Markist

[youtube]http://www.youtube.com/watch?v=uuwgHNtyD54[/youtube]

[Miroslav]

Re: Obama's $825 Billion Stimulus

but Obama is def. a Markist

"Marxist"...as in a follower of Karl Marx

[MJDub]

Re: Obama's $825 Billion Stimulus

He just gave a pretty rousing speech in support of the bill at a Democratic Caucus meeting. Don't have the link but I just watched it on CNN. It was in simple, easy-to-understand terms, and went after all of the arguments leveled against the bill.

Made the Republicans look like nothing more than bumbling obstructionists, which is really what they've been reduced to anyway.

[sono]

Re: Obama's $825 Billion Stimulus

There is no quick fix solution. Obama stimulus package will not fix the economy, the US is 9 Trillion Dollars in Debt, you're basically throwing peanuts at the problem.

And like the person mentioned above, there is a pattern here to what happened in the great depression. And this is where things could get out of hand.

- People will lose their jobs
- Unemployment rises, crimes are up
- People will demand change
- People get fed up with politicians for lack of change.
- Extremist politicians and ideologies rise up promising real change
- People desperate for change vote for them
- etc.... you can fill in the blanks...

History always repeats itself and it always takes something revolutionary before things are balanced out again.

[Dj_chole]

Re: Obama's $825 Billion Stimulus

Only foul dont know that this is a crisis of rich PEOPLE. this 825bilion is smarter to spend on the puriest ...
Rich will find way to earn more money..

[Miroslav]

Re: Obama's $825 Billion Stimulus

The more I learn about the details of this stimulus bill, the less thrilled I am with it. I think some form of stimulus is very much needed, but I'm concerned that these projects have no exit strategy to them; they should be temporary initiatives that are ultimately fully shifted off into the private sector as quickly as possible. I am also concerned that even if this stimulus works, the amount of money we're flooding into the economy will touch off the greatest wave of inflation this country has ever seen once the economy bottoms.

[runningman]

Re: Obama's $825 Billion Stimulus

Word^^

Inflation is going to kick into high gear in the coming months-years.

[Miroslav]

Re: Obama's $825 Billion Stimulus

^^ that's ONE thing on which I may agree with you