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Bush Economic Stimulus Package





LumberJack
http://www.cbc.ca/money/story/2008/01/18/bush.html?ref=rss

145 Billion, too little too late. The problems of the US economy are so multi-layered I doubt if 25% of that will actually hit the economy. I guess the markets thought the same as well. DOW down another 60 points, at least it isn't triple digits. All of 07's gains have been vaporized.... good luck people!
crdowner
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.
bogger
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
LumberJack
crdowner wrote:
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.


Actually, C$ is a problem. Went up way too fast and when a currency is that volatile, it tends to do more harm than good. Especially, on an export based economy like Canada's.

I do agree with you about the media though. They should all be replaced....
the-guide
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.
roxys_art
crdowner wrote:
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.


I think you make a very good point here. Sure the economy may not be the best right now, but then the media points this fact out which causes many to become hesitant. If the media were to say that the economy is turning around and show false numbers of prosperity on everyone's screen across the nation, the economy would quickly turn around...guaranteed. Now, it may not be a full 180 right away, but it would be much better than our current position.

As far as the stimulus package goes, I don't think it's going to work as long as the media portrays our economy as "down in the dumps."

But for those who are complaining how stupid the plan is, you can just forward all checks back to the government and attach a letter describing how stupid the plan is. The government can then use this money they get back for programs. Or, better yet, you can forward your checks to my bank account and I can find something to do with the extra money. It would be tough, but I'm sure I would be able to manage...
Billy Hill
It's nothing more than wealth redistribution. And trying to convince other economies to do it is ef'n stupid.
whitehole
I think that the gov't should shrink and take less money in the form of taxes etc. Earn your own way and let me earn mine. If inflation and taxes weren't a factor or less of a factor then the economy would be fine. We are a very productive society with lots of skilled labor and entrepreneurship so even if a recession hits it won't last for ever.

The personal irony of the rebate to me is, if I get a rebate I will save it all and spend it in Europe this summer when I do some foreign exchange studies. So Bush's plan will be stimulating the European economy and not ours. Smile
LumberJack
the-guide wrote:


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.


I think the Fed was actually panicked by the EU markets due to the French Banking Fraud. I don't think they did their research properly. If they drop interests rates again in February, then I am wrong, if they hold them, then I am right. What an embarrassment.
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