Discussion in 'Economy' started by Paulie, Jan 19, 2008.
Absolutely correct, Paulitics, can't argue with one word.
We saved ours from '01. Oh, how grateful we were with the 1/2% interest on it. eusa_whistle: ) Eventually savings is spent on remodeling, landscaping, required municipal sewage system, large ticket items. But that doesn't go to the immediate problem which is endemic to our economy.
What do you know, we agree. Taking money out of one person's pocket and into another is just moving money around. More important, those that it's taken from are more likely to invest it in something that will grow wealth. Those it's given to may buy something at retail or pay off part of their bills, nothing is created. Perhaps it blips up for a couple months, that's it.
To get around the fact that people may either save the money or use it to pay down debt Peter Schiff suggests the government could give us debit cards and force us to spend the money within a certain time period.
However, as noted, a PERMANENT cut could have the desired effect. No way Democrats would EVER agree to that though.
A permanent tax cut would be good long-term - assuming spending is cut - but it doesn't help us now. The tax cuts don't expire for another three years. We'll be out of the recession by then.
The checks they'll send us will help us a bit but it won't be enough to get us out of the recession. What will get us out will be lower interest rates and just time to work out all the problems in the economy.
I'm going to Europe for a holiday. That's where I'm spending mine.
Spending doesn't look like it's ever going to be cut again. No one in Washington advocates cutting spending anymore. They pay LIP SERVICE to the idea, but all one needs to do is look at their recent records.
That 150 Billion they're sending out can only come from one of 2 sources, as I see it...PRINT IT, or BORROW IT.
so, either inflate the supply, or create more debt.
When will these fucking idiots realize how much they're fucking this country over?
How do you KNOW the recession will be over, even in 3 years? If spending isn't cut, and borrowing, tax cutting, and money printing keep going up, there's no WAY the markets will just work themselves out.
There's no more bubbles left to transfer things to. We need to stop all the spending, and we need to do it NOW.
Actually, there is another one coming IMHO
You could be right. It'll be the first bubble I got involved in.
I wish I'd have grabbed some gold a couple years ago, but I'm all over it now.
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