Geithner belongs behind bars. I mean for this, not his tax fraud, since we have to categorize his crimes now.

The delayed-action Porkulus spending is going to have an entirely opposite consequence. It’s not going to suddently revive the economy in time for the election. It’s going to throw fuel onto the fire of inflation by dumping more borrowed and printed cash into the economy at the worst possible time.

The danger of an inflation spike isn’t at the bottom, it’s as the economy starts to sputter to life. Consumers spend, inventories go down, factories place orders, goods are imported. But now there’s this huge pool of money out there that doesn’t represent any increased backing or wealth, so prices jump.

The Fed should be frantically retiring TARP funds paid back to the government, and we should be slashing foreign borrowing and ending the ridiculous practice of the Fed buying its own T-Bills. Then we might have a chance at a real recovery. Otherwise we’re going to be looking at $5 a gallon gas and a trip to Wal-Mart (and their Chinese produced inventories) looking like a jaunt through Tiffany’s…just in time for the 2010 election.

Oh, you mean like the prediction that unless we pass this 1 trillion dollar pork package right away without reading it, unemployment won’t pass 8%. Is that the kind of prediction you think is insane?

I shudder to think that you are even capable of thought.

The stimulus didn’t have any effect other than increasing our deficit and pork payments to unions and friends of the Democrats. It will actually retard any progress towards growth and job creation. To believe otherwise is just Marxist theory about a utopian society where capitalism is evil and only the government can save the common man.

Doing nothing would have had a more positive effect on our economy than this pork filled legislation.

I shudder to think what the economy would have looked like without the stimulus, how high would unemployment have gone? How long would it have taken us to get out of the recession? Thankfully we are on the way out.
Posted by whats_up
2009-11-18 11:34:27

Many economists were seeing signs of the end of the recession on or about the end of this year 1st quarter next, BEFORE the stimulus package was even passed!!! We were quoting them when this monstrosity was being written!

I shudder to think you are retarded enough to forget that.

Doing nothing would have had a more positive effect on our economy than this pork filled legislation.
Posted by BIG
2009-11-18 11:40:13

I disagree, I would ask you to prove your assertion but it cant be done, your side will always think that there was no need for the stimulus, but then again you like to stick your head in the sand alot.

“That didnt work out so well for you.”

While I appreciate you making the economic discussion all about me, why don’t you go ask anybody in their early 60′s how their retirement account is looking?

There’s been no real wealth growth in the stock market since the bailouts. Sure, you dump a trillion dollars of Monopoly money into the big financial firms and it will help the market on paper. How many people are making real investments? How many companies are seeing actual growth? How many new businesses are opening? How’s the job market looking?

But by all means, keep harping on the DJIA. Scream loud enough and maybe you’ll forget about the rising unemployment rate, vanishing tax base, and utter unabashed corruption engine that we refer to politely as the government.

I disagree, I would ask you to prove your assertion but it cant be done, your side will always think that there was no need for the stimulus, but then again you like to stick your head in the sand alot.
Posted by whats_up
2009-11-18 12:32:52

I disagree, I would ask you to prove your assertion but it cant be done, your side will always think that there WAS A need for the stimulus, but then again you like to stick your head in the sand alot.

There’s been no real wealth growth in the stock market since the bailouts.

Posted by Mike_M
2009-11-18 12:45:43

LOL, thats the funniest statment that I have heard from you in a long time. No real growth huh? How do you explain the stock market being above 10,000 again, because their was no growth? Seriously are you that dumb?

No doubt it is higher than 8% but again I ask you, how much worse would it have been without the stimulus? It was needed, thankfully it was passed and we were able to avoid the worst.
Posted by whats_up
2009-11-18 13:04:44

Since your(the lefts) predictions were off by more than 25%. Without the stimulus it wouldn’t be ANY worse that it is now, possibly better. Most predictions had the number in at 9-9.5% max. So not only is now past that it’s looking like it could get WORSE, and much of that can be blamed on tax increases for the companies that actually EMPLOY people. Some economists are predicting as much as 12%. Since we’ve surpassed Obama’s predictions, AND that of the economists who were saying we don’t the stimulus, I see no reason to believe the stimulus was needed nor helpful. Especially since most of that money won’t even hit the economy until NEXT year!!!

By the way, the average annual GDP growth rate for the Bush years was +2.2%, including the post-9/11 recession and all of 2008. the Bush unemployment average was about 5.5%.

Obama has bungled away a decade of growth and prosperity in less than ten months.

4Q 2008: -5.4%
1Q 2009: -6.4%
2Q 2009: -0.7%
3Q 2009: +3.3%

That’s a net economic growth of -9.2% since the bailouts. The stock market is simply a collection of stock prices from a selection of companies. Many of which still only have stock listings because of bailout money.

But go ahead, tell us all how great Obama has done presiding over the disappearance of nearly 10% of the US economy.
Posted by Mike_M
2009-11-18 14:04:52

Mike,

So you are laying the blame for the lack of growth in the 4th quarter of 2008 on Obama, you realize that he wasnt even in office then correct? And his policies didnt take effect soon enough to effect the 1st quarter of 2009 but typical of conservatives you will try and blame him.

The last quarter has shown apparent growth and thats great but… I don’t think its going to last. Even President Obama is saying that the deficit could easily cause a double dip recession (actually if you look at history, no recessions were continually down, they had moments of some growth then problems once more). Too bad he caused that deficit himself with his and the rest of the Democratic Party’s insane spending spree. Almost as if they wanted it to happen.