Call your congressman and ask them to add $53.5 million to the stimulus pkg for...

[Snake Doctor]

Best friggin idea I've heard in months.

As long as we're about to spend gazillions to stimulate the economy, I'd like to suggest we throw in another $53.5 million for a cause dear to all business journalists: economic literacy. And what better place to start than right here in Washington.

My modest proposal is that lawmakers be authorized to hire personal economic trainers over the coming year to sit by their sides as they fashion the government's response to the economic crisis and prevent them from uttering the kind of nonsense that has characterized the debate over the stimulus bill during the last two weeks.

Full article (great read)
http://www.washingtonpost.com/wp-dyn...020503413.html

[tony286]

a good read and very true like I said before the right needs this to fail so they can get elected again.

[IllTestYourGirls]

heres a better idea. how about we spend that money educating the public not to be fooled by the FED that we need to print a trillion dollars or we are doomed. Or not to elect this fucking morons in the first place?

the first spending bill didnt work, nor will this one.

[tony286]

Originally Posted by IllTestYourGirls

heres a better idea. how about we spend that money educating the public not to be fooled by the FED that we need to print a trillion dollars or we are doomed. Or not to elect this fucking morons in the first place?

the first spending bill didnt work, nor will this one.

do you realize if the economy keeps getting worse eventually its going to touch you? Your not rich like rush.

[IllTestYourGirls]

Originally Posted by tony404

do you realize if the economy keeps getting worse eventually its going to touch you? Your not rich like rush.

Of course I do. Im not fooled into believing that we live in a lollipop world and Obama farts rainbows. This package will do NOTHING. 1 trillion dollars is not enough to save us. The money we would need to save us would cause us to go into massive hyper inflation. Those are the facts. The fed has printed trillions and trillions and trillions and trillions over the last FEW MONTHS. And it has not slowed the fall.. 1 trillion more is not going to stop us.

We are falling no matter what we do. But If we keep adding trillions on top of trillions we will fall faster into hyper inflation.

[IllTestYourGirls]

If 1 trillion will save us why arent we all billionaires now?

[tony286]

I convinced anything this guy does you will say wont work. lots of your arguments dont make sense.

[IllTestYourGirls]

Originally Posted by tony404

I convinced anything this guy does you will say wont work. lots of your arguments dont make sense.

What dont you understand?

[Snake Doctor]

IllTestYourGirls
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[pocketkangaroo]

Originally Posted by IllTestYourGirls

Of course I do. Im not fooled into believing that we live in a lollipop world and Obama farts rainbows. This package will do NOTHING. 1 trillion dollars is not enough to save us. The money we would need to save us would cause us to go into massive hyper inflation. Those are the facts. The fed has printed trillions and trillions and trillions and trillions over the last FEW MONTHS. And it has not slowed the fall.. 1 trillion more is not going to stop us.

We are falling no matter what we do. But If we keep adding trillions on top of trillions we will fall faster into hyper inflation.

I look at it this way. A lot of intelligent and well respected economists believe the stimulus is necessary. Many more than those that believe we don't need one. Since I'm not an economist, nor an expert on this kind of stuff, I tend to believe it's best to side with what the experts think.

Sure they could be completely wrong, and sure it could implode in our faces. But in the end, isn't it smarter to take the opinions of the people who have studied and researched this stuff their entire lives?

I'd also add that most of the experts believe that deflation is the big risk, not inflation. Sure we could have inflation down the line, and there are ways to deal with that. But in the short term, if we don't stave off the risk of deflation, we fall into the trap that Japan did last decade.

[seeandsee]

nice article ;)

[teomaxxx]

Originally Posted by pocketkangaroo

I look at it this way. A lot of intelligent and well respected economists believe the stimulus is necessary. Many more than those that believe we don't need one. Since I'm not an economist, nor an expert on this kind of stuff, I tend to believe it's best to side with what the experts think.

Sure they could be completely wrong, and sure it could implode in our faces. But in the end, isn't it smarter to take the opinions of the people who have studied and researched this stuff their entire lives?

I'd also add that most of the experts believe that deflation is the big risk, not inflation. Sure we could have inflation down the line, and there are ways to deal with that. But in the short term, if we don't stave off the risk of deflation, we fall into the trap that Japan did last decade.

I agree with IllTestYourGirls on this topic and apparently IMF head agree with us.

Originally Posted by teomaxxx

http://www.independent.co.uk/news/uk...e-1519067.html

"The IMF says tax cuts and public spending and borrowing boosts all over the world will be useless unless the financial system is rebooted.

Its managing director, Dominique Strauss-Kahn, warned: "If there's not a restructuring of the banking system, all the money you can put into [monetary and fiscal] stimulus will just go into a black hole.""

Thats it. All bailout money are wasted, unless politicians stop to support capital sucking blackholes (aka 90% of banks) and let them bankrupt. There is not enough money to cover all their loses (it only started with housing, watch for much more and bigger problems like CDS).
The current system cant be saved, it have to be rebuilded again.

i am not against stimulus, but the problem with politicians is, they spend and spend in good times, when they should be saving. In bad times, they spend, spend, spend and spend. sometimes in the future people will have to repay it back.

[nation-x]

I watched CSPAN all day yesterday... and by all day I mean from 8AM to Midnight. Goddamn... senators can be some whiny bitches... "But you didn't include my amendment for vote!". Goddamn amendment had nothing to do with the stimulus.

[IllTestYourGirls]

http://www.bloomberg.com/apps/news?p...8yU&refer=asia

Many advanced countries are already in depression and as it stands now the spending bills will not work.

“The worst cannot be ruled out,” Strauss-Kahn said in Kuala Lumpur, where he was attending a gathering of central bankers from Southeast Asia. “There’s a lot of downside risk.”

Ten days ago, the IMF cut its world-growth estimate for this year to 0.5 percent, the weakest pace since World War II. Stimulus packages alone won’t succeed in dragging the global economy out of recession unless confidence is restored in the banking system, Strauss-Kahn said today.