One step up, two steps down. Where it stops no one knows.....

[Steven Vaccaro]

Lets see I find out by accident that my wife has a $5000 credit card bill. As mad as I was I ask her to see the bills and find out there is lots of spending for my new born child, so I calm down and say how are we going to fix this? Our basic plan, We stopped going to dinner, didn't buy new cloths for a bit and no vacations. Little by little paid it down to nothing. That's my little world.

If I was the US government I would have tossed my wife another credit card and said "don't worry about it things will get better".

This PORK package is JUNK!!! The smart guys in the market know this and are rebelling in the only way they know how!

Lets face it Obama and his 20 teleprompters(so many its tough to get a good camera angle on him without it being in the picture) are not the next coming. He's trying to force way to much on the budget in bad times. We all need to fight this tooth and nail!

http://www.marketwatch.com/

[Jeff Wohlt]

hmmm... sounds familiar...my wife...whoops. x-wife told me she had over $16,000 in CC debts that I did not know of. She was having the bills sent to her mom's house so I could not find out.

My banker called me and said she was down there wanting to barrow money and he would not do it without my signature.

Well guess what...I kicked her a$$ out after 15 years and said it is more than just the money....we were suppose to be soul mates and that blew it for me.

[Darin Jordan]

Does anyone else find it IRONIC that the Chinese, in response to this economic crisis, have DROPPED Capital Gains taxes, and are taking steps to encourage business and individual investement by LOWERING taxes and promoting "friendly" business climates??

Go Figure! I guess they ARE good at splashing/copying the BEST ideas the US has to offer!

Too bad WE aren't as talented and forward thinking...

[Steven Vaccaro]

Does anyone else find it IRONIC that the Chinese, in response to this economic crisis, have DROPPED Capital Gains taxes, and are taking steps to encourage business and individual investement by LOWERING taxes and promoting "friendly" business climates??

Go Figure! I guess they ARE good at splashing/copying the BEST ideas the US has to offer!

Too bad WE aren't as talented and forward thinking...

This is depressing! Our government for the last 16 plus years has set up up for failure. I was hoping "change" was coming. Not another 4 years of robbing my pocketbook! My kids college funds are off almost 50%! One of my kids will be going attending in 5 years. No way its going to come back.

[Dr. Jet]

I wonder how many Change-Seeking Obamaniacs are having buyer's remorse right about now? Oh yeah, that's right: the Media didn't TELL you about him before the election, they just told you Bush and Palin were bad, and McCain was old and just wanted more Bush, and Barak Hussein Obama offered change and hope.



Looks like I have change and hope now thanks to B.O. I have nothing but small change in my pocket and I hope this clown won't take the country any further down the toilet.

Don't worry folks, this inexperienced Neo-Marxist will take us down the road to change all right, just not the change you thought your vote would make.

[Flying Scotsman]

I think the problem is that everyone is scared stupid.
Scared for their jobs, too much debt, etc.
Every government in the world is throwing money to try and solve the dilema of failed banks and corporations to try to stimulate consumer confidence. If, we do not buy, the problem only gets worse. This a global problem and I do not think any one knows how to stop FEAR. We are all bunkering down.

Douggie

[Jeff Wohlt]

I work with some close friends at the Chicago Tribune and they said they are shocked BO made it as far as he did. They do not have a lot of confidence in him.

He sure talks the talks to the blue collar worker.

All this will take time....better than the last D that thought cigars went somehwere else and that was not chip and dip on her dress!!

[Darin Jordan]

Every government in the world is throwing money to try and solve the dilema of failed banks and corporations to try to stimulate consumer confidence.

No they are not... These numbers can be "fixed" a couple of different ways... The way our government is choosing is to take more money from us and spend it on social programs and building roads and bridges... to nowhere, most likely...

The way the Chinese are doing it is to let us KEEP MORE OF OUR MONEY, and spend what they have trying to stimulate job growth and businesses...

I wonder which plan will work better...??? Actually... come to think of it... I don't wonder at all...

[Flying Scotsman]

Darin, the Chinese are notorious for hoarding their cash. Their problem is many that fled from a rural economy and now face the reality of closed factories. Their government is scared stupid about an angry mob of citizens

Douggie

[ghostofpf1]

I'd rather they take it from us for jobs and infrastructure than for failed war efforts and financial "institutions"...where was all the teeth gnashing and wailing from the right when teh shrub did us in ??

Steve

[Bill-SOCAL]

Originally Posted by Flying Scotsman:
Every government in the world is throwing money to try and solve the dilema of failed banks and corporations to try to stimulate consumer confidence.

No they are not...

You and I must have different sources for information.

England

Bank of England to start pumping money into UK economy

http://www.guardian.co.uk/business/2009/mar/04/bank-of-england-quantitative-easing

Russia

The Vedomosti business daily reported on Thursday that the latest draft budget earmarks more than a quarter of its spending for anti-crisis measures - a sum that amounts to around 1.9 trillion rubles.

http://www.iht.com/articles/2009/02/...ness/ruble.php

Iceland

The government withstood furious protests last year after the nationalization of three banks -

http://www.forbes.com/2009/01/26/iceland-government-collapse-markets-equity-cx_vr_0126markets35.html

Japan

Government officials have hinted that Japan would consider drafting a fresh fiscal stimulus package to stem the downturn. Prime Minister Taro Aso, whose popularity ratings have plummeted even as an election approaches this year, has already promised stimulus spending worth almost ¥50 trillion in two packages unveiled late last year.

http://www.iht.com/articles/2009/02/...ness/16yen.php

France

France's Prime Minister Francois Fillon has unveiled a series of measures worth 26bn euros ($33.1bn; £23.5bn) designed to "revitalise" the French economy.

http://news.bbc.co.uk/2/hi/business/7864942.stm

And since you mentioned it:

China

China on Sunday announced a huge economic stimulus package aimed at bolstering its weakening economy and perhaps helping fight the effects of a global economic slowdown. In a sweeping move at a time when major projects are being put off around the world, Beijing said it would spend an estimated $586 billion by 2010 on wide array of national infrastructure and social welfare projects, including constructing new railways, subways, airports and rebuilding communities devastated by an earthquake in southwest China in May.

http://www.marginalrevolution.com/marginalrevolution/2008/11/the-chinese-eco.html

It seems that some sort of government intervention and stimulus packages are pretty much the norm around the world as a response to the current world economic crisis.

[Dr. Jet]

Darrin's post was meant to elucidate the fact that the Chinese are REDUCING taxes, and providing BUSINESS INCENTIVES instead of taxing the people/companies that PRODUCE WEALTH.

The government, by definition, produces nothing. They can only take away from those that do.

Government is not the solution to this financial mess. It is the reason we are in this mess.

Bush (in his final 9 months in office) became a fiscal socialist. So the pointy-headed "intellectuals" figured we needed a change, so they voted in this Neo-Marxist. We are going from the frying pan into the fire (that's a change).

[Bill-SOCAL]

Sorry Dr. Jet, but that is NOT what he said. Douggie's very clearly stated that governments are throwing money at the problem to which Darin plainly stated, "No they are not."

He then went on to use China as an example, but even China has a huge stimulus package.

About China

China will exempt foreign investors in the nation's local-currency securities from paying capital- gains tax, the latest attempt to revive stock markets that have lost more than half their value in the past four years.

But this again is government attempting to solve the problem. And China is very far more dependent on foreign investment than internal, so this is a huge thing for them.

[Darin Jordan]

Bill... you might want to read the whole thing in context... I know... you libs have a problem doing that, but Dr. Jet got it, and likely, if you try hard enough, you can too...

[AndyKunz]

China

http://www.marginalrevolution.com/marginalrevolution/2008/11/the-chinese-eco.html

China on Sunday announced a huge economic stimulus package aimed at bolstering its weakening economy and perhaps helping fight the effects of a global economic slowdown. In a sweeping move at a time when major projects are being put off around the world, Beijing said it would spend an estimated $586 billion by 2010 on wide array of national infrastructure and social welfare projects, including constructing new railways, subways, airports and rebuilding communities devastated by an earthquake in southwest China in May.

Bill,

What are the Chinese doing? BUILDING INFRASTRUCTURE.

What are the Obamites doing? GIVING MONEY AWAY.

Major difference, imho.

FWIW, a lot of the WPA projects built where I grew up in NJ are still in daily use. My elementary school, high school, and most of the bridges on the road I grew up on (hilly, wet, LOTS of crossings) are still in good repair. The cash we got the past two times? I stuck them mostly into my savings account.

Not that I like socialism (be it FDR's or modern European or Asian), but WORKFARE is better than WELFARE. If we're gonna do it, at least do it right.

Andy