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02-12-2009
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Wandering Aimlessly
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Hawg - the so called stimulus bill is spending, not loans.
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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02-12-2009
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“Scientists are people who build the Brooklyn Bridge and then buy it.”
Wm. F. Buckley, Jr.
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02-13-2009
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Wandering Aimlessly
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I'm reading that more lobbyists have copies or parts of the stimulus than congressmen.
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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02-13-2009
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Siren 17
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Hog, some of the money will come back. Some might even make it back to the treasury, but in the meantime, good banks will collapse or be unable to expand because the bailed out bank will keep the business and be able to get away with riskier loans then the independent banks. So proping up a few big banks will kill good banks and leave us all poorer for it.
Just think of all those over paid CEOs that would already be unemployed if the government hadn't stepped in. We're never going to get that money back. This means rather then more profitable banks and investers paying more taxes in 2010 and 2011, we're going to see less profitable banks and investors stay alive at our expense. So in effect, we've lost more in future tax revenue then the little bit of money we'll get back from the tarp loans.
As well, there is the moral hazard introduced. There is a bigger then ever incentive not to worry about your customers and shareholders, rather you should get closer to your politicions. The 12 million in tarp funds given to a bank in Mass. Donors to Barney Frank, who we're already in trouble for breaking a bunch of leading laws. This is the bad bank that will blow cash on needless things and operate at a loss for the next few years, going back to Barney for another jolt of taxpayer cash if they can. The bank across town will have to match prices for services, will have to compete for employees and will have to offer more to they're shareholders to get more capital. Or they might decide to fold up shop and move on to better shores, seriously, move they're money to another country. Why work your a$$ off for very little return while accross town the conected pull in the big bucks thanks to they're friends.
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Last edited by danjarch; 02-13-2009 at 12:37 AM.
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02-13-2009
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Wandering Aimlessly
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Is this what we'll get? One very plausible scenerio, particularly in the context of the last paragraph.
http://www.nytimes.com/2009/02/13/op...ooks.html?_r=2
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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02-13-2009
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Wandering Aimlessly
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Join Date: Nov 2002
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Anybody want to bet against the deficit hitting the 3 trillion mark before next year?
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John
Ontario 32 - Aria
Free, is the heart, that lives not, in fear.
Full, is the spirit, that thinks not, of falling.
True, is the soul, that hesitates not, to give.
Alive, is the one, that believes, in love. JCP
Music on the Wind -
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02-15-2009
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Owner, Green Bay Packers
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A rational congressman speaks out in the NYT
For a congressional representative this guy has his head on straight. And he's from Wisconsin.
http://www.nytimes.com/2009/02/14/op...=2&ref=opinion
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“Scientists are people who build the Brooklyn Bridge and then buy it.”
Wm. F. Buckley, Jr.
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02-16-2009
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Senior Member
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Quote:
Originally Posted by danjarch
If we had any real leadership. They'd be cutting all the spending they could and so they'd have more to fund unemployment and SBA loans.
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It won't make any difference. It's too late, Take a look at the federal budget sometime. It they dropped everything tomorrow except service on the National debt, entitlements, and defense spending, we're still in the red. It won't work unless they double everyone's taxes. Even then, Congress would probably find a way to spend the 'new found' money.
Hyperinflation is the only way out. They know it, "we" are slowly getting it, hell even the Chinese know it. They hate the fact they're forced to purchase US Treasuries when the USD is about to fall off a cliff. They'll do it, but hate us for it.
What's about to happen is going to rival the Great Depression if not in it's mechanics, in it's severity. This will make the recessions of the '70's look like a walk in the park.
Indecently, if anyone has a way out of this, call Senator Dodd as he's running out of things to talk about.
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Tropic Cat
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02-16-2009
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Sailaway, I've pretty much stayed out of this thread since my 2007 predictions were validated. However, I just can't help myself on this one subject.
A final note on the Bush years.
"Last week the Federal Reserve released the results of the latest Survey of Consumer Finances, a triennial report on the assets and liabilities of American households. The bottom line is that there has been basically no wealth creation at all since the turn of the millennium: the net worth of the average American household, adjusted for inflation, is lower now than it was in 2001."
Not only was this guy the worst President in US History, we will probably feel the pain of his mismanagement for a generation.
Meanwhile we have Rush Whatshisname stubbornly trying to pin the whole mess on Obama. What does he care, he makes $40 mil a year on the backs of now out of work conservatives. Which is a very good job in anyone's book, if you can get it.
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Tropic Cat
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02-16-2009
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moderate?
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This is an extremely long read. Windy,Sway,Rick,Beez all....just start reading it and then please someone tell me why it is a load of crap like I hope. Otherwise I'm starting on the vegetable garden tomorrow.
ClubOrlov: Social Collapse Best Practices
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