I am definitely not a Bush lover but since you live in Canada you should be since the Canadian dollar is worth more than the American dollar.
I have no idea if this stimulus package will help but I know enough about economics to understand that the US economy is impacted more my media coverage than by actual problems in the economy. Americans over react which causes the stock markets to drop which just further feeds the media.
If the media would stop talking about things in a negative manner, a lot of things would be better.
Negativity = money.
I haven't done enough proper research on the matter to give a full opinion, sorry, but I'd be interested to see what the economist says about it. Despite their capitalist bias, their economic criticism tends to be top notch
I think, it's not pertaining to the talk of negative manner of media... or the capitalist bias but it's the real economics depression, the real global recession, if you remember, it slowly began from 8 to 9 months ago but at that time, not enough interestedly.
Economic depression in U.S. today, this phenomenon now called Hamburger Crisis!, affects world's economics not only U.S. but all countries around the world, like domino action.
The world's stock markets are in meltdown, market meltdowns overnight around the globe and growing anxiety. Wall Street plummeted as the day began this week, following Asian stocks, then warily eased its sell-off after the Fed ordered the biggest cut on record in a key interest rate. The Dow Jones industrials, down 465 points at one point, closed the day off 128.
It's the biggest world economic depression after the 2nd World War as billionaire investor "George Soros" said. And he also said U.S. Recession Is "Almost Inevitable".
The Fed, announcing its action after an emergency video conference Monday night, indicated further rate reductions were likely, aimed at encouraging people and companies to start spending again. The reduction in the federal funds rate from 4.25 percent to 3.5 percent (0.75 percent at once) marked the biggest reduction in this target rate for overnight loans on records going back to 1990.
That action help Asian stocks yesterday (Jan 23) a little better, following Wall Street and Dow Jones industrials too, but not for EU and Latin America which still down.
However, the Fed was expected to cut rates further, possibly as soon as their next meeting on Jan. 29-30, if there are continued signs that the economy is weakening.
It's nothing more than wealth redistribution. And trying to convince other economies to do it is ef'n stupid.
