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Author Topic: Second Stimulus Spending in the works? HuH!  (Read 1929 times)

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double helixTopic starter

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Second Stimulus Spending in the works? HuH!
« on: February 18, 2009, 10:14:14 AM »

Word up, folks. DC folks are already talking about a second stimulus spending package. While Obama cautions, pundits plan. I don't know about you folks but all I can do is shake my head and spiral deeper into depression. I already have my cardboard house picked out and my flop space in the local begging spot reserved. I hear tell the soup kitchen serves up a mean bean soup every day and the moldy bread ain't half bad if you get there early.
I don't think that extra twenty dollars on my pay check that the current stmulus offers is going to quite cover the 60% increase in utility bills this year nor pay my taxes when all is said and done.
The great American standard of living bites the dust!

Quote
Even as the first stimulus bill was being made law, the Obama administration said it has not ruled out a second boost for the economy. White House spokesman Robert Gibbs said the government would do what it takes to spur the economy, although he said there are no immediate plans for a second stimulus package


http://www.cbc.ca/money/story/2009/02/17/obamastimuluslaw.html

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Re: Second Stimulus Spending in the works? HuH!
« Reply #1 on: February 18, 2009, 11:50:51 AM »

Banks need to be compelled to start lending money so that people can buy houses and cars, otherwise let them fail.
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Peter Perfect

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Re: Second Stimulus Spending in the works? HuH!
« Reply #2 on: February 18, 2009, 01:20:20 PM »

Banks need to be compelled to start lending money so that people can buy houses and cars, otherwise let them fail.

Yeah, right!   Who's money are they gonna lend?
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Re: Second Stimulus Spending in the works? HuH!
« Reply #3 on: February 18, 2009, 01:52:24 PM »

All the money they're getting from the government which they've been hoarding and using to continue paying their executive bonuses.

The first stimulus under Bush was sold on the proposition that they would be injecting liquidity into the markets and easing credit as soon as it passed but that hasnt happened because the government just gave them the money and didnt tie any strings to it which was just plain dumb.

If they are going to use the money to support their balance sheets and nothing else, then they should be forced to give it back. They are making things worse and Congress needs to get off their asses and do something about it.
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Peter Perfect

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Re: Second Stimulus Spending in the works? HuH!
« Reply #4 on: February 18, 2009, 02:14:53 PM »

All the money they're getting from the government which they've been hoarding and using to continue paying their executive bonuses.

The first stimulus under Bush was sold on the proposition that they would be injecting liquidity into the markets and easing credit as soon as it passed but that hasnt happened because the government just gave them the money and didnt tie any strings to it which was just plain dumb.

If they are going to use the money to support their balance sheets and nothing else, then they should be forced to give it back. They are making things worse and Congress needs to get off their asses and do something about it.

This is just plain fucking stoopid.   Banks pay interest to investors/people to cover the risk of loss to the investor.  People speculate on the share market (gamble) to make profits.    It's all a fucking gamble with potential rewards for those who take the risk.   Banks themselves share in the profit from taking those same risks.

When banks/people/investors profit from those risks their investments grow.    Do they refund that profit to the greater masses that eventually pay for the profit?   Of course they don't.

Yet when they lose, it appears that the masses must pay out again.  What a fucking total sham.    People and banks etc have profited during the good times, let them take their fucking lumps in the bad times.   Perhaps their value will drop sufficiently for some of the lower order masses to have a turn at the paying end of the money go round. 

Personally I believe that the international sharemarkets (casinos) should introduce the requirement for a mandatory 2 month notified cooling period for selling shares.  That would take the bullshit profiteering/insider trading (not gambling) out of the equation and make for a significantly more stable sharemarket.
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THE BRA1N

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Re: Second Stimulus Spending in the works? HuH!
« Reply #5 on: February 18, 2009, 02:32:22 PM »

This is just plain fucking stoopid.   

Seems that what you are saying is that the entire process of giving money to banks in the first place is stupid. I had that debate with dani a couple of months ago.

On the surface, it might be stupid, socialistic and sound counter-productive but the differences with banks and lending institutions and every other business, is that they make the economies of the world go. They are ground zero.

Without banks making loans to people and businesses, EVERYTHING will eventually come to a grinding halt. Who has $200,000 around to buy a house or $20,000 to buy a car? How many small businesses have cash reserves to meet more than 3 months worth of payrolls or to invest in inventories?

They all need loans. Banks are getting money from the government to make loans, not to sit on the money. But they arent making them which isnt much better than the government not giving them a dime and allowing them to fail.
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JimmyBlonde

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Re: Second Stimulus Spending in the works? HuH!
« Reply #6 on: February 18, 2009, 02:34:59 PM »

A ban on short selling and buying on margin would be a good idea too.

Go to a legit casino and try to short sell on black at the roulette table and see how far you get.
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Peter Perfect

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Re: Second Stimulus Spending in the works? HuH!
« Reply #7 on: February 18, 2009, 03:06:15 PM »

A ban on short selling and buying on margin would be a good idea too.

Go to a legit casino and try to short sell on black at the roulette table and see how far you get.

Lol  Exactly

Brain.  Not I'm not saying banks don't have their place.  I'm saying that they should be allowed to fail every now and again instead of being propped up by taxes.  Most of the money they play with doesn't come from taxes, it comes from peoples savings and investments (even those moneys from other lending institutions).
If an investor stands to make a profit from his deposit because of perceived risk.  Let them take the loss.   

Does a anyone refund your nickels when you loose them in the pokies?
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double helixTopic starter

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Re: Second Stimulus Spending in the works? HuH!
« Reply #8 on: February 20, 2009, 01:08:39 AM »

Banks, Mortgage institutes, Credit companies all of those money grubbing mongers NEED TO LOWER THEIR FREAKING INTREST RATES!

Wow, what a novel idea. People could actually make some headway in paying down their loans and haves spending money to boot. And gee, no taxpayer would have to pay for these huge freaking bail outs.
Yeah, the lenders would have to bite the bullet, but hey, if they could look at an applicants financials  with the stroke of the keyboard and SEE they don't have enough income to pay a big ass loan then it's the lenders fault when the applicants default, don't you think?

I have a car loan of which I'm two payments ahead on. The lender calls offering to re-fi for a lower intrest rate but when I decline to re-fi at the original amount of the loan, nother words don't want to get any cash back they decline to re-fi.  Not because I don't have an excellent credit rating, but because I don't want to go deeper in debt. And this lender is one that recently went under and was bought up by a bigger company. This is the kind of double jeprody America is getting the shaft for.

We should all pull our money out of the banks and let them go broke.
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JimmyBlonde

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Re: Second Stimulus Spending in the works? HuH!
« Reply #9 on: February 20, 2009, 01:23:24 AM »

Banks, Mortgage institutes, Credit companies all of those money grubbing mongers NEED TO LOWER THEIR FREAKING INTREST RATES!



Yes it was a case of them being too slow to raise them and too slow to lower them. Pure greed, nothing more.
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Angelica

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Re: Second Stimulus Spending in the works? HuH!
« Reply #10 on: February 20, 2009, 06:05:14 PM »

Word up, folks. DC folks are already talking about a second stimulus spending package. While Obama cautions, pundits plan. I don't know about you folks but all I can do is shake my head and spiral deeper into depression. I already have my cardboard house picked out and my flop space in the local begging spot reserved. I hear tell the soup kitchen serves up a mean bean soup every day and the moldy bread ain't half bad if you get there early.
I don't think that extra twenty dollars on my pay check that the current stmulus offers is going to quite cover the 60% increase in utility bills this year nor pay my taxes when all is said and done.
The great American standard of living bites the dust!

Hey Iceberg, we tried the Repug taxcut way...in fact we tried it for over 8 years and look where it got us...in debt and in a depression.

And it's funny how you never once said shit about the Bush stimulus plan when he and his Repug cronies spent the last 8 years cutting taxes to Corporations who went and sent all their jobs to 3rd world countries so they can get more fucking money into their pockets and still charge the same for their shit products, and avoid paying taxes their share of taxes.  You didn't say shit when he gave everyone a rebate that would eventually go into the pockets of the credit card companies to pay off their inflated interest rates (which Bush and Co did nothing about it).  You didn't say shit when Bush never vetoed one fucking bill that would enrich the already rich, yet found his pen full and ready to veto when it came time to give to the middle working class.  But somehow now you found your fucking voice.  Just where were you DH...under an ice-floe?

And the best part is, now it seems that the Repug Governors want the best of both worlds, they want to cherry pick what they want to take from the stimulus to make up their deficit, while telling everyone that they oppose the stimulus package (just in case it doesn't work).  Just like a Republican; party first, constituents last!
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thekid65

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Re: Second Stimulus Spending in the works? HuH!
« Reply #11 on: February 21, 2009, 11:01:21 AM »

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Angelica

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Re: Second Stimulus Spending in the works? HuH!
« Reply #12 on: February 21, 2009, 12:04:27 PM »

Nifty little link that shows how your state is planning on using the extra bucks

There's some defo waste going on here....


There sure is...and the majority of it is from Republican states.  :slap:

The top 5 states in almost all category on waste is....wait for it....
a Republican run state.  Hmmm, sounds like they want their cake, and also eat it. :uhuh:
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LKTraz

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Re: Second Stimulus Spending in the works? HuH!
« Reply #13 on: February 21, 2009, 02:23:39 PM »

There sure is...and the majority of it is from Republican states.  :slap:

The top 5 states in almost all category on waste is....wait for it....
a Republican run state.  Hmmm, sounds like they want their cake, and also eat it. :uhuh:

What flavor koolaid is that?
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Angelica

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Re: Second Stimulus Spending in the works? HuH!
« Reply #14 on: February 21, 2009, 02:28:17 PM »

What flavor koolaid is that?

Hmmmm, lets see:
AL = Repug
MS = Repug
TX = Repug
CA = Repug
AK = Repug
PR = Repug

Do you want me to name some other flavors? I think there are still some that you haven't sampled..... :vc:
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LKTraz

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Re: Second Stimulus Spending in the works? HuH!
« Reply #15 on: February 22, 2009, 10:09:03 AM »

Hmmmm, lets see:
AL = Repug
MS = Repug
TX = Repug
CA = Repug
AK = Repug
PR = Repug

Do you want me to name some other flavors? I think there are still some that you haven't sampled..... :vc:
]

Actually I was wondering which DUMBOcrat koolaid you've been drinking again.  Seems you're pretty good at spewing the libertard talking points all the while denying being one.
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thekid65

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Re: Second Stimulus Spending in the works? HuH!
« Reply #16 on: February 22, 2009, 10:17:15 AM »

What Angel is neglecting to mention is that all of our money is being handed out by a Democrat.

Nuff said.
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double helixTopic starter

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Re: Second Stimulus Spending in the works? HuH!
« Reply #17 on: February 22, 2009, 03:52:36 PM »

Hey Iceberg, we tried the Repug taxcut way...in fact we tried it for over 8 years and look where it got us...in debt and in a depression.

And it's funny how you never once said shit about the Bush stimulus plan when he and his Repug cronies spent the last 8 years cutting taxes to Corporations who went and sent all their jobs to 3rd world countries so they can get more fucking money into their pockets and still charge the same for their shit products, and avoid paying taxes their share of taxes.  You didn't say shit when he gave everyone a rebate that would eventually go into the pockets of the credit card companies to pay off their inflated interest rates (which Bush and Co did nothing about it).  You didn't say shit when Bush never vetoed one fucking bill that would enrich the already rich, yet found his pen full and ready to veto when it came time to give to the middle working class.  But somehow now you found your fucking voice.  Just where were you DH...under an ice-floe?

And the best part is, now it seems that the Repug Governors want the best of both worlds, they want to cherry pick what they want to take from the stimulus to make up their deficit, while telling everyone that they oppose the stimulus package (just in case it doesn't work).  Just like a Republican; party first, constituents last!
So, Angelica, can we assume from your commentary that your  $600 went for credit card payments? Because mine didn't. Mine went directly to the stores, new shoes, supplies, clothes,gas, air plane tickets etc.
Now, under Obama, I get $18 dollars a week for a year, then $7.50 a week for the next year. That will go for credit card debt, bills etc.  Why? Because I will need to run up my credit card to purchase those extras I used last years lump sum on.
We can expect prices to rise again this year. How is that $18 dollars going to offset that rise in prices? Nada.
Obama promises to keep an EYE on where and how the stimulus money is used. He can keep and eye on anything he wants Angel, but that's about all he can do. He is powerless, just like Bush was, to really do much of anything except express his displeasure and shame the bad boys into APPEARING to be less greedy. Do you really think all the holes in the financial system can be plugged by Obama keeping an EYE on the situation? If you do, your more naive than I ever thought.
You can rail against Bush all you want. Realistically and as a realist thinker, I cannot believe Bush had any more power or influence over the economic or political situation than Obama does. Only difference is, at the moment, Obama believes he does have the power and ability. A belief that has already begun to erode at the edges and will quickly crumble away when the economic situation continues to worsen and Obama's vision begins to clear.
As for the Republican Governors being greedy sumbitches. HaHaHa your funny. I would take a greedy sumbitch REPUBLICAN Governor grabbing up some money for MY STATE jobs and economy over some perverse, low down selfish lying mofo DEMOCRATIC governor trying to SELL his states senate seat for his own profit, or some DEMOCRATIC senator who commits manslaughter while driving drunk and gets away with it or some jack ass DEMOCRATIC president sitting on camera in front of the entire world LYING about his sexual adventures in the White House while conducting our countries business.
The long and short of it is, Angelica, politicians are power hungry egotistical buffoons whatever party flag they fly. And us, the people, we are all just left blowing in the wind.
Word up, do what you can NOW to prepare for the future hard times because that's what all the rich and powerful are doing, that's what all the wise and resourceful are doing, and that's what we all should be doing. 2010 is a long way away and that's the projected first real sign of economic return. PROJECTED isn't in anyway guaranteed and in all likelihood we will never see the American Dream as it once was alive again.
 Obama didn't even wait a week after his stimulus package was passed to begin on another bail out. And what did he say when the first one passed? Well let me refresh your memory, "the passage of this stimulus spending package in no way means there won't be the need for another in the future" and not two days later we hear he ALREADY had another stimulus prepared for consideration by our lawmakers.
Nationalization of our banking, housing and automobile institutions is here,  socialism is here and unfortunately it's here to stay no matter how much Obama uses the word temporary. The American Standard of Living has taken a nose dive and will continue to until it levels out somewhere close to what it was in the 70 or 80's.
American tax payers have been sold up the river for ever and ever by both sides of the political party Angelica. If we don't watch out for our own asses it's our own fault. Don't stand around slack jawed and misty eyed expecting your politicians to have your best interest at heart. If we do it's our own damm fault when we go down in flames and smoke. :slap:
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Peter Perfect

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Re: Second Stimulus Spending in the works? HuH!
« Reply #18 on: February 22, 2009, 05:20:16 PM »

Post of the week :trophy: for double helix
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Angelica

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Re: Second Stimulus Spending in the works? HuH!
« Reply #19 on: March 07, 2009, 09:20:55 AM »

I was wondering which DUMBOcrat koolaid you've been drinking again.  Seems you're pretty good at spewing the libertard talking points all the while denying being one.

Didn't see this until now. 

As I have said over and over again, I am an Independent.  I always see the good and bad of both sides. 

What makes me laugh the most, is that you seem to think that anyone that is not lock step with the Republican ideology is a retard that is not worthy of a response. You guys have drunk that Bush koolaid for too long, you need to come out of his ass and take a breath of fresh air.  Look around you, this catastrophe was made by him and his cronies.  If it wasn't for the "war against terror" that he instituted against Iraq, a non entity in the 9/11 attack, and also the Repubs deregulation mantra, we wouldn't be in the fucking hole we are in right now.

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"I'll believe that corporations are people when the State of Texas executes one." - Bill Moyers
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