The economic meltdown has started. So what do our fearless leaders plan to do about it?
The Fed dropped interest rates. About all this means is that the banks who made fraudulent or stupid investments will get propped up for a little longer, because the people who are paying these loans will be able to pay them for a little while longer. Before going bankrupt and disappearing off the face of the Earth.
Tax breaks for business. After all corporation are people too. The vampirarchy must be protected. All the short-sighted, self-centered decisions made by corporations will be repaid with a tax decrease. Heaven knows we can’t let them get desperate enough to sell off a couple of corporate jets.
Tax rebates for people who still have jobs. yippee. They think that $300 is a big enough bribe to get me to go along with the corporate handout? I’m not that cheap.
What could I do this $300?
-I could pay down a loan, which would give money to the vampires that are already overcharging me.
-I could use it to pay for the increased price of food & gas for a month or two. Big economic stimulus there.
-I could use it to buy more stuff. After all, consumers keep the economy afloat. With any luck, it will bounce around our economy for a little while before zooming off shore. The bump in spending will spur an increase in the price of oil, and I get to pay even more for food & gas.
What about the people who have been laid off by the vampirarchy? We can’t extend unemployment benefits because people would be counted for a longer length of time. That would make our unemployment rate closer to the real number. No, they have the honor of subsidizing the companies that laid them off. Since Pelosi is so ready to abandon them, maybe it’s time for a permanent tent city on her front lawn. Should we call it Pelosiville or Pelosiburg?
By the way, Pelosi is so busy fixing the economy, we are going to have to put off those subpoenas for Josh Bolton & Harriet Miers a little while longer. But she promises to get to it, just as soon as this emergency is over.
And what has our Senate been doing about this mess? Reid decided that they are too busy to deal with economic problems. They need to make sure that the telecom companies have immunity for those wiretaps that weren’t illegal.
John Edwards has a really stupid idea. Many the economy would be stimulated if people had good jobs. And we could use these jobs to make the country more energy efficient. Wow! hope for a better future, that couldn’t possibly spur the economy.
Impeach. Now.
Note: vampirarchy – A set of ruling persons, comparable to vampires.
No, corporate welfare is not an economic stimulus. But when are our Democratic representatives going to believe this as much as we do?
listen up. This should be all the confirmation we need that we’re facing “a financial tsunami”…How quickly did CONgress and Bush, Paulson, set aside differences to let’s make this stimulus deal. Only in a disaster, catastrophic event or calamity do we see such action.
Financial Tsunami – it’s been long in the planning. trillions of fraudulent bonds – mortgage backed securities. Banks, non – banks are broke. Many more shoes will drop.
this $150 billion won’t save the day. ..even if they sent out $5,000 checks to every taxpayer. What’s $150 billion when we need half a quadrillion!
All that’s playing right now is too little too late. Days ago the chimp told us the economy was sound, strong.
What changed?
They’ll believe it the very instant they are forced to believe in it, not one instant sooner. Total economic meltdown or populist groundswell – either one would do nicely.
Thanks for posting this Diary H. Teeth. I was just so livid when i saw that news (on reuters not AM. MSN) and i just feel like hopping up and down in frustration… and no one seemed to be paying attention.
I’m hoping for the populist groundswell, even if it is the less likely choice.
Not in the foreseeable future.
What an insight!
I couldn’t understand why the Republicans are so against extending benefits. It would be inexpensive, decent and have immediate stimulative effects. They don’t want to see the numbers. They want the unemployed to disappear like the immigrants do when laid off. Blame the victims every chance you get. Maybe they will put a fence around Pelosi’s front lawn like at a junkyard. Things that have no use anymore. She has let us all down again with her
capitulationcompromise. Hurry because thepeoplemake that the profits margins are hurting. Pelosi and Reid make me sick.Thanks hens teeth – recommended.
I was one of the uncounted once. It was a shock to find out that I was not allowed to file with unemployment after my benefits were exhausted. I was still looking. I wanted to be counted even if I couldn’t collect any more benefits.
I think what the magic team of Bush/Cheney need, is a great white tiger to bite their freak’n heads off..; )
afterall, that’s all their doing, smoke & mirror’s.
hmmmm, there is a tiger out there, the general public, but alas, they have that tiger de-fanged, and in a permanent deep sleep….so the show goes on…
Edwards 08
There is a new community blog, The Economic Populist.
I hope all who are aware of, concerned about trade, budget deficits, taxes, global labor issues, outsourcing, insourcing, migration from a labor economics viewpoint,
fiscal policy would consider contributing.
The focus is to use some real facts, statistics to attempt to increase awareness on just precisely how current policy is plaining bringing down the US economically and what to do about it, what we really need in terms of overall/complete overhaul on policy and legislation.
There is no community blog, where anyone can write a blog site that is focused trade, economic policy that is for the US national interest and that means the middle class, working America’s interests and this is where the real war (including our DoD budget and war debt) is happening.