What the heck does Bush think he is doing??? There are rumors that he is going to give an individual tax rebate of $800.00 to every taxpayer as a way to stimulate the economy.
Just where is he getting the money from??? Could someone please explain this to me? I am too stupid to follow this guy. Nothing he does makes any sense...
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I don't know why he'd be doing this -- all the Pubbies here say that the economy is doing awesome. Never been better.
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
http://afp.google.com/article/ALeqM5g06lpUTJHppEC3iGBzDP9k-kud8Q
Toohotforu wrote:
Just punch her in the vag and tell her to @#$% off.
It'll work... in theory. Savings rates have been startlingly low over the past decade, but if the holiday spending spree didn't give the economy enough of a surge, I doubt that this "tax rebate" will either.
Maybe it's time for the FED to lower the FF rate again. Saint Alan would be proud, I'm sure.
Maybe it's time for the FED to lower the FF rate again. Saint Alan would be proud, I'm sure.
Jophiel wrote:
I managed to be both retarded and entertaining.
It would be a temporary boost. That's about it. Then everything would go in the crapper again.
The Demea of Doom wrote:
It'll work... in theory. Savings rates have been startlingly low over the past decade, but if the holiday spending spree didn't give the economy enough of a surge, I doubt that this "tax rebate" will either.
Maybe it's time for the FED to lower the FF rate again. Saint Alan would be proud, I'm sure.
Maybe it's time for the FED to lower the FF rate again. Saint Alan would be proud, I'm sure.
Bush hasn't announced exactly what he will do but a 800.00 rebate is one of the plans. Fed Chairman Bernanke stated in his testimony to the House Budget Committee yesterday that the Fed is ready to act (lower rates) if needed. Bernanke also said an economic stimulus package would be beneficial if timed correctly.
BTW, Fed funds futures are showing a 100% chance of a 25 basis point cut at their Jan 30 meeting. A 50 basis point cut is 65% and 75 basis point cut is around 45%.
Quote:
BTW, Fed funds futures are showing a 100% chance of a 25 basis point cut at their Jan 30 meeting. A 50 basis point cut is 65% and 75 basis point cut is around 45%.
I can't imagine they'd cut it by 75 basis points. They didn't even go that far when the sub-prime sector started imploding.
Do you have a link to that info? I've been meaning to get a site bookmarked so I can keep tabs on it.
Jophiel wrote:
I managed to be both retarded and entertaining.
Jophiel wrote:
I don't know why he'd be doing this -- all the Pubbies here say that the economy is doing awesome. Never been better.
Yep, the unsustainable boom in home ownership generated by the artificially inflated mortgage market and unscrupulous lending practices was proof positive of our stable economy, doncha know?
The mortgage market, loosened by Democrat legislators threatening congressional investigations should institutions "red-line" and stop lending to poor people from the ghetto, and the sub-prime mortgage implosion, directly related to the failure to repay that said ghetto bunnies fell in to, is largely the fault of some of our more prominent socialist members of congress.
Bush simply got to the mic first today to get his desires out, which included making permanent his tax cuts which is the most important thing to do. Anything else is pretty well f'ucking worthless and just for PR. He proposed it so pubs running for congress next year can point to the check and say "we did that".
Bush simply got to the mic first today to get his desires out, which included making permanent his tax cuts which is the most important thing to do. Anything else is pretty well f'ucking worthless and just for PR. He proposed it so pubs running for congress next year can point to the check and say "we did that".
MoebiusLord the Irrelevant wrote:
Bush simply got to the mic first today to get his desires out
Bush is late to this horse show.
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
The Demea of Doom wrote:
Quote:
BTW, Fed funds futures are showing a 100% chance of a 25 basis point cut at their Jan 30 meeting. A 50 basis point cut is 65% and 75 basis point cut is around 45%.
I can't imagine they'd cut it by 75 basis points. They didn't even go that far when the sub-prime sector started imploding.
Do you have a link to that info? I've been meaning to get a site bookmarked so I can keep tabs on it.
I am a FX Trader so I have licensed bloomberg financial screen sitting on my desk. A lot of the stuff I have on the economy comes from licensed websites. Quoted below is what I cut and pasted off of my screen:
Quote:
There is continued talk that today would be the last day the
Fed would come in to cut rates inter-meeting as it is
unlikely the Fed would want to move next week (the
week before the meeting) or indeed the week of the
meeting. As such, it would not surprise if equity and
potentially USD sentiment waned later today if the
market did not get a cut. The market is still pricing
in a significant probability of an inter-meeting cut
and I suspect that if we do not get one this
morning, that those bets are going to begin to get
unwound this afternoon in the futures market as we
head into the long weekend. For those keeping
track, yesterday’s close indicated a 56% probability
of 50bp worth of cuts and a 44% probability of 75bp
worth of cuts by the end of the month.
Fed would come in to cut rates inter-meeting as it is
unlikely the Fed would want to move next week (the
week before the meeting) or indeed the week of the
meeting. As such, it would not surprise if equity and
potentially USD sentiment waned later today if the
market did not get a cut. The market is still pricing
in a significant probability of an inter-meeting cut
and I suspect that if we do not get one this
morning, that those bets are going to begin to get
unwound this afternoon in the futures market as we
head into the long weekend. For those keeping
track, yesterday’s close indicated a 56% probability
of 50bp worth of cuts and a 44% probability of 75bp
worth of cuts by the end of the month.
Here are a couple different free websites you can try but you may have to dig for the info.
Bloomberg.com
Fxstreet.com
A shameless plug - a few days ago I started putting US economic news in my journal.
Hey, if someone wants to throw free oney at me, have at it. I welcome each of you to follow Bush's generous lead and contribute more to the Totem Capital Appreciation Fund.
Totem
Totem
Totem wrote:
Hey, if someone wants to throw free money at me, have at it.
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
Hint: It's not free money.
Just as Planned.
bubspeed wrote:
Just where is he getting the money from???
I think we're past the point where a lil cash happy pill is gonna do much good.
Alma wrote:
I lost my post
This is where the money comes from. We'll pay it back, eventually, with a huge chunk of interest.
Just as Planned.
Elinda, Star Breaker wrote:
bubspeed wrote:
Just where is he getting the money from???
I think we're past the point where a lil cash happy pill is gonna do much good.
That's my point exactly. Bush thinks he can just print money and hand it out to anyone. This is the main reason why our friends to the north can now call their dollar equal to ours...
Though the canadian dollar is really pretty, with the picture of the queen and all!
Anyone planning on taking a vacation to Europe? It will cost you twice today what it would just a few years ago.
Edited, Jan 18th 2008 3:42pm by bubspeed
Edited, Jan 18th 2008 3:42pm by bubspeed
Edited, Jan 18th 2008 3:43pm by bubspeed
Edited, Jan 18th 2008 3:43pm by bubspeed
bubspeed wrote:
though the canadian dollar is really pretty, with the picture of the queen and all!
Edited, Jan 18th 2008 9:44pm by Elinda
Alma wrote:
I lost my post
bubspeed wrote:
Anyone planning on taking a vacation to Europe? It will cost you twice today what it would just a few years ago.
Latvia and Belarus are still a bargain. And let's not forget Serbia!
Edited, Jan 18th 2008 2:49pm by Jophiel
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
In many countries in the world 'buying voters' is commonplace.
"If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders". Carlin.
Quote:
In many countries in the world 'buying voters' is commonplace.
In many countries killing people for their opinions is commonplace.
Just because it happens doesn't make it right.
Just as Planned.
/Whoosh
"If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders". Carlin.
"Buying voters" would make more sense if this was in October.
Eleven months from now, that $800 will be spent, gone and forgotten.
Eleven months from now, that $800 will be spent, gone and forgotten.
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
Quote:
/Whoosh
/Whoosh
Just as Planned.
Eleven months from now, that $800 will be spent, gone and forgotten.
It would take probably 3 months just to process the checks, assuming the IRS had nothing else going on. No one's going to see any money until at least June, if at all.
Shouldn't the solution be to further reduce taxes on the richest 1%? That's what really drives the economy, right? Not middle class spending.
Disclaimer:
To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
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